What is National Vision's earnings per share (EPS)?

National Vision (EYE) reported diluted earnings per share of $0.37 for fiscal year 2026. This represents a 202.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

National Vision Financials

EYE

Source SEC Filings (10-K/10-Q) Updated Jan 3, 2026 Currency USD FYE January

This page shows National Vision (EYE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Earnings Quality Cash-Backed

4.94x

For every $1 of reported earnings, National Vision generates $4.94 in operating cash flow ($146.3M OCF vs $29.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$2.0B

YoY+9.0%

5Y CAGR+2.9%

National Vision generated $2.0B in revenue in fiscal year 2026. This represents an increase of 9.0% from the prior year.

EBITDA

$150.0M

YoY+85.2%

5Y CAGR-1.4%

National Vision's EBITDA was $150.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 85.2% from the prior year.

Net Income

$29.6M

YoY+203.9%

5Y CAGR-2.0%

National Vision reported $29.6M in net income in fiscal year 2026. This represents an increase of 203.9% from the prior year.

EPS (Diluted)

$0.37

YoY+202.8%

5Y CAGR-1.5%

National Vision earned $0.37 per diluted share (EPS) in fiscal year 2026. This represents an increase of 202.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$73.5M

YoY+92.6%

5Y CAGR+2.9%

National Vision generated $73.5M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 92.6% from the prior year.

Cash & Debt

N/A

Dividends Per Share

N/A

Shares Outstanding

79M

YoY+0.8%

5Y CAGR-0.2%

National Vision had 79M shares outstanding in fiscal year 2026. This represents an increase of 0.8% from the prior year.

Margins & Returns

Gross Margin

58.8%

YoY+0.7pp

5Y CAGR+5.5pp

National Vision's gross margin was 58.8% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 0.7 percentage points from the prior year.

Operating Margin

3.0%

YoY+3.5pp

5Y CAGR-1.3pp

National Vision's operating margin was 3.0% in fiscal year 2026, reflecting core business profitability. This is up 3.5 percentage points from the prior year.

Net Margin

1.5%

YoY+3.0pp

5Y CAGR-0.4pp

National Vision's net profit margin was 1.5% in fiscal year 2026, showing the share of revenue converted to profit. This is up 3.0 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

$3.2M

YoY+3.7%

5Y CAGR-34.0%

National Vision spent $3.2M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 3.7% from the prior year.

Capital Expenditures

$72.8M

YoY-23.7%

5Y CAGR-6.4%

National Vision invested $72.8M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 23.7% from the prior year.

EYE Income Statement

Metric	FY26	FY24	FY23	FY22	FY21	FY19
Revenue	$2.0B+9.0%	$1.8B+3.8%	$1.8B+6.8%	$1.6B-3.9%	$1.7B-0.7%	$1.7B
Cost of Revenue	$819.5M+7.3%	$764.1M+4.0%	$734.7M+10.0%	$667.7M-15.1%	$786.6M-2.5%	$806.5M
Gross Profit	$1.2B+10.3%	$1.1B+3.7%	$1.0B+4.6%	$977.0M+5.6%	$925.1M+0.8%	$917.8M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.0B+8.3%	$938.5M+3.7%	$904.8M+8.7%	$832.6M+14.8%	$725.0M-2.6%	$744.5M
Operating Income	$58.8M+667.9%	-$10.4M-142.3%	$24.5M-53.6%	$52.8M-39.4%	$87.0M+18.3%	$73.6M
Interest Expense	N/A	N/A	N/A	$25.6M-47.0%	$48.3M+45.1%	$33.3M
Income Tax	$12.1M+715.7%	$1.5M-75.3%	$6.0M-61.4%	$15.5M+546.9%	$2.4M+204.1%	-$2.3M
Net Income	$29.6M+203.9%	-$28.5M+56.8%	-$65.9M-256.5%	$42.1M+16.1%	$36.3M+10.6%	$32.8M
EPS (Diluted)	$0.37+202.8%	$-0.36+57.1%	$-0.84-261.5%	$0.52+18.2%	$0.44+10.0%	$0.40

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Revenue	$503.4M+3.3%	$487.3M+0.2%	$486.4M-4.7%	$510.3M+16.7%	$437.3M-3.2%	$451.5M0.0%	$451.7M-6.4%	$482.8M
Cost of Revenue	$210.7M+3.7%	$203.2M+1.4%	$200.4M-2.3%	$205.2M+10.9%	$185.0M-2.6%	$189.9M-1.9%	$193.6M-1.0%	$195.5M
Gross Profit	$292.7M+3.0%	$284.1M-0.7%	$286.1M-6.3%	$305.1M+21.0%	$252.3M-3.6%	$261.6M+1.3%	$258.2M-10.1%	$287.2M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$261.2M+3.5%	$252.3M+2.1%	$247.2M-3.3%	$255.5M	N/A	$234.0M+1.1%	$231.4M-3.7%	$240.1M
Operating Income	$6.6M-30.9%	$9.6M-41.6%	$16.4M-37.1%	$26.1M+202.2%	-$25.6M-189.9%	-$8.8M-1592.6%	$591K-97.5%	$23.4M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$929K-143.9%	$2.1M-39.8%	$3.5M-52.4%	$7.4M	N/A	-$3.6M-132.1%	-$1.6M-121.0%	$7.4M
Net Income	$3.3M-1.6%	$3.4M-61.4%	$8.7M-38.5%	$14.2M+149.6%	-$28.6M-237.6%	-$8.5M-171.0%	-$3.1M-126.7%	$11.7M
EPS (Diluted)	N/A	$0.04-63.6%	$0.11-38.9%	$0.18+150.0%	$-0.36-227.3%	$-0.11-175.0%	$-0.04-126.7%	$0.15

EYE Balance Sheet

Metric	FY26	FY24	FY23	FY22	FY21	FY19
Total Assets	N/A	$2.0B-7.6%	$2.2B-5.2%	$2.3B-5.3%	$2.4B+19.0%	$2.0B
Current Assets	N/A	$249.8M-37.0%	$396.7M-16.3%	$473.8M-27.9%	$657.0M+180.0%	$234.6M
Cash & Equivalents	N/A	$73.9M-50.7%	$149.9M-34.7%	$229.4M-49.4%	$453.8M+1053.5%	$39.3M
Inventory	N/A	$93.9M-21.7%	$119.9M-2.6%	$123.2M+3.0%	$119.5M-6.3%	$127.6M
Accounts Receivable	N/A	$49.9M-42.5%	$86.9M+8.7%	$79.9M+33.1%	$60.0M+35.0%	$44.5M
Goodwill	N/A	$698.3M-2.7%	$717.5M-7.7%	$777.6M0.0%	$777.6M0.0%	$777.6M
Total Liabilities	N/A	$1.2B-11.3%	$1.3B-3.4%	$1.4B-9.3%	$1.5B+22.0%	$1.3B
Current Liabilities	N/A	$468.3M+17.7%	$397.7M+15.5%	$344.3M-4.3%	$359.8M+31.7%	$273.2M
Long-Term Debt	N/A	$239.1M-45.4%	$437.7M-19.9%	$546.2M-22.9%	$708.2M+34.7%	$525.9M
Total Equity	N/A	$816.3M-1.6%	$829.4M-8.0%	$901.1M+1.5%	$887.5M+14.3%	$776.4M
Retained Earnings	N/A	$226.1M-11.2%	$254.6M-20.6%	$320.5M+65.6%	$193.6M+80.7%	$107.1M

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Total Assets	$2.0B+1.3%	$2.0B-0.5%	$2.0B-2.1%	$2.0B+0.1%	$2.0B-0.6%	$2.0B-5.9%	$2.1B-0.4%	$2.2B
Current Assets	$225.7M+2.5%	$220.2M+1.1%	$217.7M-14.3%	$254.1M+1.7%	$249.8M+2.5%	$243.7M-33.1%	$364.4M-3.8%	$378.9M
Cash & Equivalents	$38.7M-30.9%	$56.0M+15.6%	$48.5M-39.4%	$80.0M+8.2%	$73.9M-8.9%	$81.2M-54.8%	$179.5M+19.6%	$150.1M
Inventory	$89.3M+1.5%	$88.0M-1.8%	$89.6M+1.2%	$88.6M-5.7%	$93.9M+7.2%	$87.6M-3.7%	$91.0M-23.3%	$118.6M
Accounts Receivable	$57.3M+24.3%	$46.1M+0.4%	$46.0M-13.6%	$53.2M+6.5%	$49.9M+6.7%	$46.8M-23.4%	$61.1M-17.8%	$74.3M
Goodwill	$700.6M0.0%	$700.6M+0.3%	$698.3M0.0%	$698.3M0.0%	$698.3M-2.7%	$717.5M0.0%	$717.5M0.0%	$717.5M
Total Liabilities	$1.1B+1.3%	$1.1B-1.6%	$1.1B-4.8%	$1.2B-1.4%	$1.2B+1.0%	$1.2B-9.4%	$1.3B-0.8%	$1.3B
Current Liabilities	$412.4M-1.1%	$417.0M-0.3%	$418.2M-10.7%	$468.2M0.0%	$468.3M+9.9%	$426.1M-35.7%	$663.2M+76.8%	$375.0M
Long-Term Debt	$223.2M-2.8%	$229.7M-7.3%	$247.9M+5.0%	$236.1M-1.3%	$239.1M-1.3%	$242.2M+82.9%	$132.4M-69.6%	$436.3M
Total Equity	$869.5M+1.3%	$858.8M+1.0%	$850.6M+1.7%	$836.2M+2.4%	$816.3M-2.8%	$840.0M-0.4%	$843.4M+0.2%	$841.3M
Retained Earnings	$255.7M+1.3%	$252.4M+1.4%	$249.0M+3.6%	$240.3M+6.3%	$226.1M-11.2%	$254.7M-3.2%	$263.2M-1.2%	$266.3M

EYE Cash Flow Statement

Metric	FY26	FY24	FY23	FY22	FY21	FY19
Operating Cash Flow	$146.3M+9.5%	$133.6M-22.8%	$173.0M+45.2%	$119.2M-49.3%	$235.0M+42.3%	$165.1M
Capital Expenditures	$72.8M-23.7%	$95.5M-16.8%	$114.8M+1.1%	$113.5M+47.8%	$76.8M-24.2%	$101.3M
Free Cash Flow	$73.5M+92.6%	$38.1M-34.5%	$58.3M+931.0%	$5.7M-96.4%	$158.2M+148.1%	$63.8M
Investing Cash Flow	-$76.6M+20.3%	-$96.1M+17.0%	-$115.8M-4.4%	-$110.9M-45.1%	-$76.4M+24.1%	-$100.6M
Financing Cash Flow	-$104.6M+7.7%	-$113.3M+17.2%	-$136.8M-61.8%	-$84.6M-148.0%	$176.3M+518.3%	-$42.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	$0
Share Buybacks	$3.2M+3.7%	$3.1M-89.1%	$28.4M-66.3%	$84.4M+12147.9%	$689K-97.3%	$25.6M

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Operating Cash Flow	$13.2M-71.8%	$46.6M-14.1%	$54.3M+68.3%	$32.2M+6.5%	$30.3M+8.5%	$27.9M-45.7%	$51.5M+114.5%	$24.0M
Capital Expenditures	$24.4M+49.1%	$16.4M+38.1%	$11.8M-41.4%	$20.2M-36.8%	$32.0M+34.2%	$23.9M+21.7%	$19.6M-2.0%	$20.0M
Free Cash Flow	-$11.2M-137.1%	$30.3M-28.6%	$42.4M+253.0%	$12.0M+791.3%	-$1.7M-142.9%	$4.1M-87.3%	$31.9M+701.8%	$4.0M
Investing Cash Flow	-$24.3M-25.6%	-$19.4M-52.5%	-$12.7M+37.2%	-$20.2M+40.0%	-$33.7M-38.6%	-$24.3M-22.6%	-$19.8M-8.9%	-$18.2M
Financing Cash Flow	-$6.1M+68.9%	-$19.7M+73.2%	-$73.4M-1258.6%	-$5.4M-35.3%	-$4.0M+96.1%	-$101.9M-4395.4%	-$2.3M+56.2%	-$5.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$650K-25.8%	$876K+1492.7%	$55K-96.6%	$1.6M+494.9%	$273K+520.5%	$44K-18.5%	$54K-98.0%	$2.7M

EYE Financial Ratios

Metric	FY26	FY24	FY23	FY22	FY21	FY19
Gross Margin	58.8%+0.7pp	58.1%-0.1pp	58.2%-1.2pp	59.4%+5.3pp	54.0%+0.8pp	53.2%
Operating Margin	3.0%+3.5pp	-0.6%-2.0pp	1.4%-1.8pp	3.2%-1.9pp	5.1%+0.8pp	4.3%
Net Margin	1.5%+3.0pp	-1.6%+2.2pp	-3.8%-6.3pp	2.6%+0.4pp	2.1%+0.2pp	1.9%
Return on Equity	N/A	-3.5%+4.5pp	-8.0%-12.6pp	4.7%+0.6pp	4.1%-0.1pp	4.2%
Return on Assets	N/A	-1.4%+1.6pp	-3.0%-4.9pp	1.8%+0.3pp	1.5%-0.1pp	1.6%
Current Ratio	N/A	0.53-0.5	1.00-0.4	1.38-0.4	1.83+1.0	0.86
Debt-to-Equity	N/A	0.29-0.2	0.53-0.1	0.61-0.2	0.80+0.1	0.68
FCF Margin	3.7%+1.6pp	2.1%-1.2pp	3.3%+3.0pp	0.3%-8.9pp	9.2%+5.5pp	3.7%

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Gross Margin	58.1%-0.2pp	58.3%-0.5pp	58.8%-1.0pp	59.8%+2.1pp	57.7%-0.3pp	57.9%+0.8pp	57.1%-2.3pp	59.5%
Operating Margin	1.3%-0.6pp	2.0%-1.4pp	3.4%-1.7pp	5.1%+11.0pp	-5.9%-3.9pp	-1.9%-2.1pp	0.1%-4.7pp	4.9%
Net Margin	0.7%-0.0pp	0.7%-1.1pp	1.8%-1.0pp	2.8%+9.3pp	-6.5%-4.7pp	-1.9%-1.2pp	-0.7%-3.1pp	2.4%
Return on Equity	0.4%0.0pp	0.4%-0.6pp	1.0%-0.7pp	1.7%+5.2pp	-3.5%-2.5pp	-1.0%-0.6pp	-0.4%-1.8pp	1.4%
Return on Assets	0.2%0.0pp	0.2%-0.3pp	0.4%-0.3pp	0.7%+2.1pp	-1.4%-1.0pp	-0.4%-0.3pp	-0.1%-0.7pp	0.5%
Current Ratio	0.55+0.0	0.530.0	0.52-0.0	0.540.0	0.53-0.0	0.57+0.0	0.55-0.5	1.01
Debt-to-Equity	0.26-0.0	0.27-0.0	0.290.0	0.28-0.0	0.290.0	0.29+0.1	0.16-0.4	0.52
FCF Margin	-2.2%-8.4pp	6.2%-2.5pp	8.7%+6.4pp	2.4%+2.8pp	-0.4%-1.3pp	0.9%-6.1pp	7.0%+6.2pp	0.8%

Similar Companies

Winmark WINA

$1.6B

Savers Value Village, Inc. SVV

$1.3B

Sally Beauty Hldgs SBH

$1.4B

Arhaus, Inc. ARHS

$925.6M

Petco Health & Wellness Company, Inc. WOOF

$799.0M

Frequently Asked Questions

What is National Vision's annual revenue?

National Vision (EYE) reported $2.0B in total revenue for fiscal year 2026. This represents a 9.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is National Vision's revenue growing?

National Vision (EYE) revenue grew by 9% year-over-year, from $1.8B to $2.0B in fiscal year 2026.

Is National Vision profitable?

Yes, National Vision (EYE) reported a net income of $29.6M in fiscal year 2026, with a net profit margin of 1.5%.

What is National Vision's EBITDA?

National Vision (EYE) had EBITDA of $150.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

What is National Vision's gross margin?

National Vision (EYE) had a gross margin of 58.8% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is National Vision's operating margin?

National Vision (EYE) had an operating margin of 3.0% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is National Vision's net profit margin?

National Vision (EYE) had a net profit margin of 1.5% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

What is National Vision's free cash flow?

National Vision (EYE) generated $73.5M in free cash flow during fiscal year 2026. This represents a 92.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is National Vision's operating cash flow?

National Vision (EYE) generated $146.3M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are National Vision's capital expenditures?

National Vision (EYE) invested $72.8M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

Does National Vision buy back shares?

Yes, National Vision (EYE) spent $3.2M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

How many shares does National Vision have outstanding?

National Vision (EYE) had 79M shares outstanding as of fiscal year 2026.

Are National Vision's earnings high quality?

National Vision (EYE) has an earnings quality ratio of 4.94x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.