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Saturday 17 October 2026 Export EYE’s income statement to Excel — free account

National Vision Holdings, Inc.

EYE Consumer Cyclical Specialty Retail

National Vision Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.0 billion, up 9.00% from fiscal 2024. In the quarter to June 2026, revenue grew 2.55%, EPS grew 45.5%, free cash flow fell 133.2% and total debt fell 12.7%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.

17.43 0.23 −1.30%
Market cap
$1.4B
P/E
27.7×
Fwd P/E
22.2×
Dividend yield
—
F-score
8/9
Altman Z
2.27
Beneish M
−2.59
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.78
Total sells 1.27
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — 1 — — — —
Sell — — — — 2 — — — — — — —
Insider Ownership 3.49%

Capital & Financial Ratios $m

Market Cap 1,400.00
Revenue 2,033.43
Net Income 50.29
Free Cash Flow 49.08
Net Debt 201.74
Current Ratio 0.59 (below 1: weak)
Debt/Equity 0.27 (at or below 0.5: strong)
P/E ratio 27.67
Fwd P/E 22.20
P/S ratio 0.68
P/B ratio 1.55
Past 5Y EPS Growth (3.41%) (below 0%: weak)
This Y EPS Growth 26.03% (at or above 15%: strong)
Next Y EPS Growth 19.83% (at or above 15%: strong)
Next Y revenue growth 3.60%
Next 5Y EPS Growth 22.73% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.8×, against a ten-year median of 1.6×; over the ten years it ranged from 0.6× in 2024 to 2.7× in 2018.
P/E against its own 10 years 11.80%
10-year low 10-year high
P/S against its own 10 years 12.95%
10-year low 10-year high
P/B against its own 10 years 15.57%
10-year low 10-year high
EV/Sales against its own 10 years 11.97%
10-year low 10-year high
EV/FCF against its own 10 years 35.55%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 150 74 39 36
Receivables 87 50 57 35
Inventory 120 94 89 123
Other — — — —
397 250 226 227
2023 2024 2025 Q'26
Payables 68 54 79 77
ST’ Debt 10 101 17 16
Other — — — —
398 468 412 383

Compound Annual Growth %

10y 5y 3y
Sales 6.46% 3.03% 6.51%
Cash Flow 5.81% (9.04%) 7.07%
Earnings 23.39% (3.99%) (11.09%)
Book Value 8.45% (0.83%) (1.18%)

Revenue $m

Mar Jun Sep Dec Year
’26 544 499 — — —
’25 510 486 487 503 1,987
’24 483 452 452 437 1,823
’23 521 432 439 365 1,756
’22 528 510 499 108 1,645
’21 534 549 518 478 2,080
’20 470 260 485 497 1,712
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 62 8 — — —
’25 32 54 47 13 146
’24 24 51 28 30 134
’23 74 38 41 20 173
’22 47 41 33 (2) 119
’21 98 92 44 25 259
’20 86 (15) 132 31 235
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 44 (14) — — —
’25 12 42 30 (11) 73
’24 4 32 4 (2) 38
’23 46 12 13 (13) 58
’22 19 13 3 (30) 6
’21 81 70 24 (11) 163
’20 73 (27) 117 (5) 158
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.38 0.15 — — —
’25 0.18 0.11 0.04 0.04 0.37
’24 0.15 (0.04) (0.11) (0.36) (0.36)
’23 0.22 0.07 (0.94) (0.20) (0.84)
’22 0.34 0.12 0.15 (0.12) 0.52
’21 0.48 0.42 0.45 0.07 1.43
’20 0.12 (0.55) 0.42 0.42 0.44
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — 27.19 25.60 22.02 11.70 41.58 22.59 13.71 9.56 10.16

Analyst estimates 2026–2028

Powerpack
High — 40.76 46.63 35.66 50.00 65.92 49.54 43.82 24.11 29.87
People
People Employees 10,360 10,902 10,668 11,781 12,792 13,735 13,975 13,998 13,411 13,138
Revenue/emp, $m 0.12 0.13 0.14 0.15 0.13 0.15 0.12 0.13 0.14 0.15
Income, $m
Income, $m Revenue 1,196 1,375 1,537 1,724 1,712 2,080 1,645 1,756 1,823 1,987
Gross margin, % 54.46 53.69 53.57 53.23 54.05 56.49 59.40 58.17 58.10 58.77
EBT 25 4 5 30 39 149 52 10 (26) 42
EBT margin, % 2.09 0.31 0.32 1.77 2.26 7.18 3.18 0.54 (1.41) 2.10
Net income 13 43 24 33 36 128 42 (66) (28) 30
Depreciation 57 69 76 89 103 106 109 105 101 101
Per share, $
Per share, $ Revenue 21.29 22.96 20.25 21.94 21.25 25.42 20.60 22.43 23.20 25.12
Earnings 0.24 0.77 0.31 0.42 0.45 1.57 0.53 (0.84) (0.36) 0.37
Cash flow 1.74 1.51 1.40 2.10 2.92 3.16 1.49 2.21 1.70 1.85
Capex (1.60) (1.56) (1.38) (1.29) (0.95) (1.17) (1.42) (1.47) (1.22) (0.92)
Free cash flow 0.13 (0.05) 0.03 0.81 1.96 2.00 0.07 0.74 0.49 0.93
Book value 7.15 10.93 9.79 9.88 11.25 11.32 11.29 10.59 10.39 10.99
Shares, m 56 60 76 79 81 82 80 78 79 79
Valuation, ×
Valuation, × P/E 77.16 56.17 80.49 78.11 102.93 30.57 76.31 0.00 0.00 69.78
P/S 1.16 1.75 1.39 1.48 2.13 1.89 1.93 0.95 0.45 1.03
P/B 6.17 3.68 2.88 3.28 4.03 4.24 3.52 2.01 1.00 2.35
EV/Sales 1.82 2.16 1.76 1.79 2.30 2.02 2.13 1.12 0.60 1.13
EV/FCF 199.24 (1,003.37) 1,264.19 48.30 24.85 25.64 620.38 33.91 28.71 30.64
Cash, $m
Cash, $m Operating cash flow 98 90 107 165 235 259 119 173 134 146
Capex (90) (93) (104) (101) (77) (96) (114) (115) (96) (73)
Free cash flow 8 (3) 2 64 158 163 6 58 38 73
Balance, $m
Balance, $m Working capital (52) (49) 3 (39) 238 171 130 (1) (218) (187)
Total debt 746 569 578 570 655 570 568 461 350 246
Net debt 741 565 561 530 281 264 338 311 276 207
Shareholders’ equity 402 655 743 776 907 926 901 829 816 870
Returns, %
Returns, % ROA 0.89 2.77 1.46 1.78 1.66 5.54 1.84 (2.95) (1.36) 1.48
ROIC 3.50 3.29 2.03 3.52 4.58 9.19 2.66 1.34 (0.59) 3.41
ROE 3.39 8.17 3.38 4.32 4.31 14.00 4.61 (7.62) (3.46) 3.51
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

National Vision Holdings, Inc. vs peers in Specialty Retail (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RH RH $2.2B 19.1× 27.9× +2.56% (above 0%: growing) +15.22% (above 0%: growing) +23.83% (above 0%: growing) 48.24% 11.67% Compare
SBH Sally Beauty Holdings, Inc. $1.6B 8.4× 5.9× +0.23% (above 0%: growing) +23.91% (above 0%: growing) +25.44% (above 0%: growing) 52.41% 9.24% Compare
SVV Savers Value Village, Inc. $1.6B 62.9× 21.8× +7.43% (above 0%: growing) +16.67% (above 0%: growing) +104.50% (above 0%: growing) 56.87% 9.43% Compare
ARHS Arhaus, Inc. $1.4B 20.0× 13.3× +7.38% (above 0%: growing) +12.00% (above 0%: growing) +130.85% (above 0%: growing) 44.71% 14.10% Compare
EYE National Vision Holdings, Inc. $1.4B 27.7× 22.2× +2.55% (above 0%: growing) +45.45% (above 0%: growing) −133.21% (below 0%: shrinking) 58.23% 4.27%
HZO MarineMax, Inc. $1.2B 291× 77.1× −6.98% (below 0%: shrinking) n/m +0.54% (above 0%: growing) 35.68% 6.09% Compare
WINA Winmark Corporation $1.1B 27.3× 31.8× +23.23% (above 0%: growing) +5.22% (above 0%: growing) −5.68% (below 0%: shrinking) 82.89% 56.60% Compare
WOOF Petco Health and Wellness Company, Inc. $683.1M 21.2× 32.0× +0.05% (above 0%: growing) +180.00% (above 0%: growing) +136.50% (above 0%: growing) 39.70% 3.21% Compare
BWMX Betterware de Mexico SAPI de C $644.0M 8.8× 7.7× +30.92% (above 0%: growing) +28.89% (above 0%: growing) −11.82% (below 0%: shrinking) 65.49% 16.37% Compare
Median of peers $1.3B 20.6× 24.9× +4.97% +16.67% +24.64% 50.33% 10.55%

All 49 Specialty Retail stocks →

National Vision Holdings, Inc. (EYE) key facts

  • Strength: National Vision Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.0 billion, up 9.00% from fiscal 2024.
  • National Vision Holdings, Inc. (EYE) is a Specialty Retail company in the Consumer Cyclical sector, listed on Nasdaq.
  • As of October 16, 2026, EYE traded at $17.43, a market capitalization of $1.4 billion.
  • Return on equity was 3.51% and debt-to-equity 0.26.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 2.27 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

National Vision Holdings, Inc. (EYE) Latest News

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stockrow.com/EYE · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com