National Vision Holdings (EYE) FY2020 results: revenue $1.7 billion, down 0.7% on the year
National Vision Holdings, Inc. (EYE) reported revenue of $1.7 billion for fiscal 2020, the year ended 2 January 2021, down 0.7% on the year before. Net income was $36 million, up 10.6%, and diluted earnings per share $0.44. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2021.
Revenue
$1.7 billion
-0.7% on the year
FY2015FY2020
Operating margin
5.1%
4.3% a year earlier
FY2015FY2020
Net income
$36 million
+10.6% on the year
FY2015FY2020
Diluted EPS
$0.44
+10.0% on the year
FY2015FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,712
1,724
1,537
-0.7%
Cost of revenue
787
807
714
-2.5%
Gross profit
925
918
823
+0.8%
Gross margin
54.0%
53.2%
53.6%
Selling, general and administrative
725
744
687
-2.6%
Operating income
87.0
73.6
42.4
+18.3%
Operating margin
5.1%
4.3%
2.8%
Interest expense
48.3
33.3
37.3
+45.1%
Pre-tax income
38.7
30.5
4.9
+26.9%
Income tax
2.4
-2.3
-18.8
Effective tax rate
6.2%
-7.6%
-385.9%
Net income
36.3
32.8
23.7
+10.6%
Net margin
2.1%
1.9%
1.5%
Diluted EPS
$0.44
$0.40
$0.30
+10.0%
$ million except per share. 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.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
235
165
107
+42.3%
Capital expenditure
76.8
101
104
-24.2%
Free cash flow
158
63.8
2.1
+148.1%
Free cash flow margin
9.2%
3.7%
0.1%
Cash from investing
-76.4
-101
-104
Cash from financing
176
-42.1
10.4
Depreciation and amortisation
91.6
87.2
74.3
+5.0%
Share-based compensation
10.7
12.7
20.9
-15.2%
Buybacks
0.7
25.6
1.9
-97.3%
Dividends paid
n/a
0.0
0.0
Diluted shares, weighted
83m
82m
79m
+1.4%
Shares outstanding at period end
81m
80m
78m
+2.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
907
776
743
+16.8%
Debt
625
536
578
+16.4%
Operating lease liabilities
327
332
0.0
-1.3%
Finance lease liabilities
27.2
30.0
n/a
-9.6%
Other liabilities
448
358
340
+25.1%
Total liabilities and equity
2,333
2,033
1,661
+14.8%
Fixed assets
n/a
n/a
355
Goodwill
778
778
778
0.0%
Intangible assets
49.5
56.9
64.5
-13.0%
Cash and equivalents
374
39.3
17.1
+850.4%
Receivables
58.0
44.5
50.7
+30.4%
Inventory
111
128
116
-12.8%
Other assets
963
987
280
-2.4%
Total assets
2,333
2,033
1,661
+14.8%
10-K for the year ended 2 January 2021, filed 3 March 2021: the filing.