National Vision Holdings, Inc. (EYE) vs Winmark Corporation (WINA)

National Vision Holdings, Inc. and Winmark Corporation are both Specialty Retail companies. National Vision Holdings, Inc. is the larger, with a market value of $1.3B against $1.1B — 1.2× the size. Winmark Corporation trades at the lower P/E: 26.0× against 26.2×. National Vision Holdings, Inc. grew revenue faster over the last twelve months: 7.84% against 3.76%. Winmark Corporation has the higher net margin (47.1% vs 2.47%) and the lower return on invested capital (0.00% vs 4.71%). Across the 21 metrics below, Winmark Corporation leads on 14 and National Vision Holdings, Inc. on 7.

Valuation

Metric EYE WINA Specialty Retail median
P/E 26.24 25.97 17.14
P/S 0.65 12.27 0.48
P/B 1.47 n/m 1.71
Price to free cash flow 26.79 25.87 13.04
EV/EBITDA 8.14 20.12 8.92
EV/Sales 0.75 12.71 0.64
Earnings yield 3.81% 3.85% 3.85%
Free cash flow yield 3.73% 3.86% 3.02%

Profitability

Metric EYE WINA Specialty Retail median
Gross margin 58.62% 96.66% 37.89%
Operating margin 4.07% 62.33% 3.66%
Net margin 2.47% 47.09% 1.42%
Free cash flow margin 2.41% 47.41% 1.44%
Return on equity 5.75% (109.44%) 2.58%
Return on assets 2.54% 94.36% 0.25%
Return on invested capital 4.71% 0.00% 0.00%

Growth

Metric EYE WINA Specialty Retail median
Revenue growth (TTM) 7.84% 3.76% 3.35%
EPS growth (last fiscal year) 202.78% 3.76% —
Revenue growth, 5-year CAGR 3.03% 5.43% 3.70%
Net income growth, 5-year CAGR (3.99%) 6.91% 0.00%

Health

Metric EYE WINA Specialty Retail median
Debt to equity 0.27 (1.59) 0.27
Current ratio 0.59 3.75 1.35
Net debt to EBITDA 1.30 0.89 0.24

Dividend

Metric EYE WINA Specialty Retail median
Dividend yield — 0.64% 1.73%
Payout ratio 0.00 0.26 0.00

Size

Metric EYE WINA Specialty Retail median
Market cap 1.30b 1.07b 348.57m

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