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Stock research / United States / EYE · Ophthalmic Goods · Nasdaq

National Vision Holdings, Inc. (EYE)

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National Vision Holdings, Inc. (EYE) reported revenue of $499 million for Q2 FY2026, the quarter ended 4 July 2026, up 2.5% on the same quarter a year earlier. Net income was $12 million, up 42.3% on the year, and diluted earnings per share $0.15. The figures are the company's own, from the 10-Q it filed with the SEC on 13 August 2026.

Revenue$499 millionup 2.5%
Net income$12 millionup 42.3%
Diluted EPS$0.15
QuarterQ2 FY2026ended 4 July 2026

National Vision Holdings (EYE) in brief

National Vision Holdings (EYE) reported revenue of $2.0 billion for fiscal 2025, the year ended 3 January 2026, up 9.0% on the year before.
Read moreNet income was $30 million and diluted earnings per share $0.37. Revenue was $1.8 billion in fiscal 2024, $1.8 billion in fiscal 2023, $1.6 billion in fiscal 2022 and $2.1 billion in fiscal 2021. Net income in the same years was a loss of $28 million, a loss of $66 million, $42 million and $128 million. Over the twelve months to 4 July 2026, National Vision Holdings reported revenue of $2.0 billion and net income of $50 million. Revenue grew 3.0% a year, compounded, over the five years to fiscal 2025. National Vision Holdings had 79 million shares outstanding at the latest filed count. At 4 July 2026 it carried $230 million of debt and $36 million of cash. At the close of 9 October 2026 the market cap of National Vision Holdings was $1.3 billion, 27.3 times its earnings over the last twelve months.

Ratios

From the filings

ROE5.6%
ROCE7.3%
Operating margin4.1%
Net margin2.5%
FCF margin2.4%
Interest covern/a
Debt to equity0.26
Cash conversion2.58
Share count, 1 year-0.1%
Sales CAGR, 3 years6.5%
Profit CAGR, 3 years-11.1%
EPS, TTM$0.61

At the close of 9 October 2026

Price$16.66
Market cap$1.3 billion
Stock P/E27.31
Price to book1.47
EV / EBITDA8.63
Dividend yieldn/a
Market cap / sales0.65
52-week high$29.46
52-week low$15.44
Price, 1 year-39.2%
Price CAGR, 3 years4.3%
Price CAGR, 5 years-21.9%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as National Vision Holdings, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
EYEgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on EYE

Filings14 in twelve months: 7 current reports (8-K), about 4 results of operations; 1 shareholder vote; 1 regulation FD disclosure; 1 material agreement
Planned insider sales3 Form 144 notices in twelve months, $1.3 million; latest 11 March 2026
Options tapeput/call 0.01 by open interest at the 9 October 2026 close; the straddle prices a 8.5% move to 16 October 2026
13F holders7 of the followed funds hold it; largest FMR LLC; 15 Schedule 13D or 13G filings in twelve months
Insider trading3 sales and 1 purchase on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest15.5 million shares short, 6.22 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023 †Q4 FY2023Q1 FY2024 †Q2 FY2024Q3 FY2024Q4 FY2024 †Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue439421483452452437510486487503544499
Cost of revenue184184196194190185205200203211219208
Gross profit255237287258262252305286284293325290
Gross margin58%56%59%57%58%58%60%59%58%58%60%58%
SG&A228248240231234233256247252261256243
Operating income3.5-12.423.40.6-8.8-25.626.116.49.66.645.221.3
Operating margin1%-3%5%0%-2%-6%5%3%2%1%8%4%
Pre-tax income-0.2-17.819.2-2.6-12.1-30.221.612.25.52.442.418.0
Tax raten/an/a39%n/an/an/a34%29%39%-39%26%31%
Net income-73.8-16.011.7-3.1-8.5-28.614.28.73.43.331.212.4
Net margin-17%-4%2%-1%-2%-7%3%2%1%1%6%2%
Diluted EPS-$0.94-$0.20$0.15-$0.04-$0.11-$0.36$0.18$0.11$0.04$0.04$0.38$0.15
Operating cash flow41.119.824.051.527.930.332.254.346.613.261.78.1
Capital expenditure27.832.820.019.623.932.020.211.816.424.417.622.2
Free cash flow13.2-13.04.031.94.1-1.712.042.430.3-11.244.1-14.1
Buybacks0.10.82.70.10.00.31.60.10.90.710.520.1
Shares outstanding78m78m79m79m79m79m79m79m79m79m80m79m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 11 fiscal years and the trailing twelve months

FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021FY2022 †FY2023 †FY2024FY2025TTM
Revenue1,0631,1961,3751,5371,7241,7122,0801,6451,7561,8231,9872,033
Cost of revenue491545637714807787905668735764819841
Gross profit5716517388239189251,1759771,0221,0591,1681,192
Gross margin53.8%54.5%53.7%53.6%53.2%54.0%56.5%59.4%58.2%58.1%58.8%58.6%
Selling, general and administrative4745266006877447259018339059391,0161,013
Operating income44.764.164.342.473.687.017552.824.5-10.458.882.8
Operating margin4.2%5.4%4.7%2.8%4.3%5.1%8.4%3.2%1.4%-0.6%3.0%4.1%
Interest expense36.739.155.537.333.348.325.6n/an/an/an/an/a
Pre-tax income5.425.04.24.930.538.714952.39.6-25.741.768.2
Income tax1.811.6-38.9-18.8-2.32.421.115.56.01.512.117.9
Effective tax rate32.8%46.6%-920.3%-385.9%-7.6%6.2%14.1%29.7%62.9%n/a29.0%26.3%
Net income3.613.343.123.732.836.312842.1-65.9-28.529.650.3
Net margin0.3%1.1%3.1%1.5%1.9%2.1%6.2%2.6%-3.8%-1.6%1.5%2.5%
Diluted EPS$0.06$0.23$0.70$0.30$0.40$0.44$1.43$0.52-$0.84-$0.36$0.37$0.61
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021FY2022 †FY2023 †FY2024FY2025TTM
Operating cash flow83.197.690.3107165235259119173134146130
Capital expenditure77.290.093.210410176.895.511411595.572.880.5
Free cash flow6.07.6-3.02.163.81581635.758.338.173.549.1
Free cash flow margin0.6%0.6%-0.2%0.1%3.7%9.2%7.9%0.3%3.3%2.1%3.7%2.4%
Cash from investing-80.1-91.0-94.6-104-101-76.4-92.9-111-116-96.1-76.6-78.4
Cash from financing-4.3-6.63.810.4-42.1176-234-84.6-137-113-105-63.8
Depreciation and amortisation44.152.762.074.387.291.697.188.789.991.391.292.3
Share-based compensation6.64.35.220.912.710.714.913.520.216.723.724.7
Buybacksn/a0.20.01.925.60.773.384.428.43.13.232.1
Dividends paid1460.01710.00.0n/an/an/an/an/an/an/a
Diluted shares, weighted56m57m62m79m82m83m96m80m78m79m81m81m
Shares outstanding at period endn/a56m75m78m80m81m81m79m78m79m79m79m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021FY2022 †FY2023 †FY2024FY2025TTM
Funded by
Shareholders' equity385400655743776907926901829816870897
Debtn/a738562571536625544546445337236230
Operating lease liabilitiesn/an/an/a0.0332327342358377366358365
Finance lease liabilitiesn/an/an/an/a30.027.222.517.213.19.56.1n/a
Other liabilitiesn/a393367348358448459469508478513491
Total liabilities and equityn/a1,5311,5841,6612,0332,3332,2932,2912,1732,0081,9841,983
Owned
Fixed assetsn/a256302355n/an/an/an/an/an/an/an/a
Goodwill797793793778778778778778718698701701
Intangible assetsn/an/a72.964.556.949.542.034.720.28.37.67.2
Cash and equivalents5.64.94.217.139.337430622915073.938.736.0
Receivablesn/a34.443.250.744.558.055.779.986.949.957.334.9
Inventoryn/a87.191.211612811112412312093.989.3123
Other assetsn/a3552772809879639881,0461,0781,0831,0901,082
Total assetsn/a1,5311,5841,6612,0332,3332,2932,2912,1732,0081,9841,983
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded6.5%3.0%6.5%7.8%
Profit growth, compounded23.4%-4.0%-11.1%n/a
Return on equity, average3.2%2.1%-2.7%3.4%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was National Vision Holdings' revenue in fiscal 2025?

National Vision Holdings (EYE) reported revenue of $2.0 billion for fiscal 2025, the year ended 3 January 2026, up 9.0% on the year before.

How much did National Vision Holdings earn in fiscal 2025?

Net income was $30 million for fiscal 2025, and diluted earnings per share $0.37.

What is National Vision Holdings' P/E ratio?

At the close of 9 October 2026, National Vision Holdings traded at 27.3 times its earnings over the twelve months to 4 July 2026.

What is National Vision Holdings' market cap?

The market cap of National Vision Holdings was $1.3 billion at the close of 9 October 2026.

How much debt does National Vision Holdings have?

At 4 July 2026 National Vision Holdings carried $230 million of debt and $36 million of cash.

Peers: Medical Equipment

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Cooper Companies, Inc. COO$10.3 billion18.566.8%12.8%4.7%0.310.0%
Warby Parker Inc. WRBY$3.2 billion361.362.0%0.2%11.0%0.00n/a
Inspire Medical Systems, Inc. INSP$2.0 billion14.9216.4%6.0%4.3%0.00n/a
Lemaitre Vascular Inc. LMAT$1.8 billion28.3115.6%29.5%11.8%0.401.0%
Dentsply Sirona Inc. XRAY$1.8 billionn/a-40.4%-8.5%-0.8%1.487.2%
Conmed Corp. CNMD$1.3 billion24.015.4%8.0%3.4%0.631.4%
National Vision Holdings, Inc. EYE$1.3 billion27.315.6%4.1%7.8%0.26n/a
Tandem Diabetes Care Inc. TNDM$1.1 billionn/a-48.6%-4.4%4.0%4.62n/a
Staar Surgical Co. STAA$1.1 billion309.711.1%4.0%51.3%0.00n/a
Integra Lifesciences Holdings Corp. IART$1.0 billionn/a-0.7%4.0%1.6%1.79n/a
Artivion, Inc. AORT$1.0 billionn/a-0.7%4.4%16.4%0.820.0%
Enovis Corp. ENOV$1.0 billionn/a-74.6%-45.1%4.9%0.87n/a
All 44 in Medical Equipment
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Intuitive Surgical Inc. ISRG$150.0 billion48.5617.3%31.3%20.7%0.00n/a
Medtronic plc MDT$113.3 billion21.7910.4%18.1%9.8%0.513.2%
Stryker Corp. SYK$106.4 billion28.7315.5%21.4%8.5%0.621.3%
3M Co. MMM$82.5 billion28.41101.5%18.4%2.3%3.691.8%
Boston Scientific Corp. BSX$61.9 billion17.3114.7%19.8%13.5%0.44n/a
Becton Dickinson & Co. BDX$50.0 billion55.343.9%9.6%-2.6%0.552.3%
Edwards Lifesciences Corp. EW$49.1 billion48.979.5%22.3%14.6%0.06n/a
Resmed Inc. RMD$33.2 billion22.0523.1%33.4%9.9%0.101.0%
Dexcom Inc. DXCM$31.7 billion33.2438.1%22.9%15.5%0.47n/a
GE HealthCare Technologies Inc. GEHC$29.9 billion15.0818.1%12.9%6.5%0.920.2%
West Pharmaceutical Services Inc. WST$25.8 billion46.8818.9%20.5%12.4%0.070.2%
Koninklijke Philips N.V. PHG *$23.3 billion23.158.2%8.0%-1.0%0.741.6%
Steris plc STE$20.9 billion26.2111.2%18.9%8.4%0.261.1%
Zimmer Biomet Holdings, Inc. ZBH$17.0 billion21.636.4%14.2%8.6%0.501.1%
Solventum Corp. SOLV$14.9 billion10.6829.9%25.0%-0.9%1.06n/a
Baxter International Inc. BAX$12.6 billionn/a-17.1%-2.4%5.4%1.522.1%
Penumbra Inc. PEN$12.6 billion78.4810.5%12.4%17.6%0.00n/a
Smith & Nephew plc SNN *$12.0 billion19.0211.8%12.9%6.1%0.592.8%
Cooper Companies, Inc. COO$10.3 billion18.566.8%12.8%4.7%0.310.0%
Align Technology Inc. ALGN$10.2 billion24.839.8%13.2%4.4%0.00n/a
Globus Medical Inc. GMED$10.0 billion19.0911.2%20.3%19.7%0.00n/a
Glaukos Corp. GKOS$9.7 billionn/a-27.6%-31.6%41.5%0.00n/a
Insulet Corp. PODD$9.4 billion25.2826.4%16.9%29.4%0.65n/a
MSA Safety Inc. MSA$7.0 billion22.4622.4%21.2%6.5%0.431.2%
Haemonetics Corp. HAE$5.4 billion58.2011.5%11.9%0.4%1.42n/a
Teleflex Inc. TFX$5.3 billionn/a-35.5%2.0%30.7%0.971.1%
Merit Medical Systems Inc. MMSI$5.2 billion36.048.7%12.8%10.2%0.44n/a
Integer Holdings Corp. ITGR$4.3 billion34.597.5%9.7%2.7%0.72n/a
LivaNova plc LIVN$4.2 billion22.6014.2%12.7%12.4%0.22n/a
ICU Medical Inc. ICUI$4.0 billion135.931.4%3.3%-9.0%0.57n/a
Envista Holdings Corp. NVST$3.7 billion39.643.1%9.6%11.9%0.47n/a
Warby Parker Inc. WRBY$3.2 billion361.362.0%0.2%11.0%0.00n/a
TransMedics Group, Inc. TMDX$2.7 billion20.1629.3%12.2%25.8%0.880.0%
UFP Technologies Inc. UFPT$2.2 billion31.1215.6%15.3%7.3%0.25n/a
Inspire Medical Systems, Inc. INSP$2.0 billion14.9216.4%6.0%4.3%0.00n/a
Lemaitre Vascular Inc. LMAT$1.8 billion28.3115.6%29.5%11.8%0.401.0%
Dentsply Sirona Inc. XRAY$1.8 billionn/a-40.4%-8.5%-0.8%1.487.2%
Conmed Corp. CNMD$1.3 billion24.015.4%8.0%3.4%0.631.4%
National Vision Holdings, Inc. EYE$1.3 billion27.315.6%4.1%7.8%0.26n/a
Tandem Diabetes Care Inc. TNDM$1.1 billionn/a-48.6%-4.4%4.0%4.62n/a
Staar Surgical Co. STAA$1.1 billion309.711.1%4.0%51.3%0.00n/a
Integra Lifesciences Holdings Corp. IART$1.0 billionn/a-0.7%4.0%1.6%1.79n/a
Artivion, Inc. AORT$1.0 billionn/a-0.7%4.4%16.4%0.820.0%
Enovis Corp. ENOV$1.0 billionn/a-74.6%-45.1%4.9%0.87n/a
3 companies share its SEC industry code (Ophthalmic Goods); the rest are the names nearest in size in its wider industry, Medical Equipment, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q4 July 202613 August 2026EDGAR
10-Q4 April 202614 May 2026EDGAR
10-K3 January 20264 March 2026EDGAR
10-Q27 September 20256 November 2025EDGAR
10-Q28 June 20257 August 2025EDGAR
10-Q29 March 20258 May 2025EDGAR
10-K28 December 202426 February 2025EDGAR
10-Q28 September 20246 November 2024EDGAR
10-Q29 June 20247 August 2024EDGAR
10-Q30 March 20248 May 2024EDGAR

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