What is National Vision Holdings, Inc.'s earnings per share (EPS)?

National Vision Holdings, Inc. (EYE) reported diluted earnings per share of $0.37 for fiscal year 2025. 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 Holdings, Inc. (EYE) Financials

EYE

Trailing 12 months to July 4, 2026

Revenue $2.0B +7.8% YoY

Net Income $50.3M +455.4% YoY

EPS (Diluted) $0.61 +438.9% YoY

Free Cash Flow $49.1M -13.5% YoY

Market Cap $1.4B as of Sep 12, 2026

Price / Sales 0.7x on $2.0B revenue, trailing 12 months to July 4, 2026

Price / Earnings 27.2x on $50.3M net income, trailing 12 months to July 4, 2026

Price / Book 1.5x on $897.0M equity, Q2 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2027, ended Jul 4, 2026 Reported Aug 13, 2026 Currency USD FYE January

Newest figures come from the 10-Q for Q2 FY2027, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EYE SEC filings page.

National Vision Holdings, Inc. (EYE) reported $2.0B in revenue over the twelve months to Jul 4, 2026, up 7.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).

Rhea AI EYE FY2025 2026-09-05

Revenue recovery is reaching the income statement unevenly: stable gross economics coexist with overhead pressure, improving cash flow, and tighter working capital.

FY2025 operating cash flow of $146M was nearly five times net income of $30M, showing that reported earnings understate cash generation because noncash charges and working-capital movements matter materially. Even during the FY2024 net loss, operating cash flow remained positive and supported positive free cash flow of $38.1M, making cash conversion more resilient than the income statement suggests.

Gross margin stayed near 58% across FY2021-FY2025, while operating margin reached only 3.0% in FY2025; the gap points to pressure below gross profit. SG&A reached $1.02B in FY2025 despite revenue remaining below FY2021's $2.08B, indicating that overhead absorption—not product-level gross economics—drives much of the earnings swing.

By FY2025, the current ratio was 0.5x while debt-to-equity was 0.3x. This combination means near-term obligations exceed current assets even as long-term borrowing is lighter than earlier periods, leaving the financing structure less debt-heavy but more dependent on current-liability turnover.

Financial Health Signals

Financial Health Score 36/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of National Vision Holdings, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

National Vision Holdings, Inc. has an operating margin of 3.0%, meaning the company retains $3 of operating profit per $100 of revenue. This results in a moderate score of 38/100, indicating healthy but not exceptional operating efficiency. This is up from -0.6% the prior year.

Growth

National Vision Holdings, Inc.'s revenue grew 9.0% year-over-year to $2.0B, a solid pace of expansion. This earns a growth score of 55/100.

Leverage

National Vision Holdings, Inc. has a moderate D/E ratio of 0.26. This balance of debt and equity financing earns a leverage score of 43/100.

Liquidity

National Vision Holdings, Inc.'s current ratio of 0.55 is below the typical benchmark, resulting in a score of 5/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

National Vision Holdings, Inc. has a free cash flow margin of 3.7%, earning a moderate score of 37/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

National Vision Holdings, Inc.'s ROE of 3.4% shows moderate profitability relative to equity, earning a score of 37/100. This is up from -3.5% the prior year.

Altman Z-Score Grey Zone

1.90

National Vision Holdings, Inc. scores 1.90, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Strong

8/9

National Vision Holdings, Inc. passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

4.94x

For every $1 of reported earnings, National Vision Holdings, Inc. 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.

Interest Coverage Adequate

3.43x

National Vision Holdings, Inc. earns $3.43 in operating income for every $1 of interest expense ($58.8M vs $17.1M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$498.8M

YoY+2.5%

QoQ-8.3%

5Y CAGR-1.9%

10Y CAGR+5.5%

National Vision Holdings, Inc. generated $498.8M in revenue in Q2 2027. This represents an increase of 2.5% from the same quarter a year earlier. Against the prior quarter it is down 8.3%.

EBITDA

$44.5M

YoY+14.2%

QoQ-35.2%

5Y CAGR-10.8%

National Vision Holdings, Inc.'s EBITDA was $44.5M in Q2 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 14.2% from the same quarter a year earlier. Against the prior quarter it is down 35.2%.

Net Income

$12.4M

YoY+42.3%

QoQ-60.2%

5Y CAGR-19.9%

10Y CAGR+13.2%

National Vision Holdings, Inc. reported $12.4M in net income in Q2 2027. This represents an increase of 42.3% from the same quarter a year earlier. Against the prior quarter it is down 60.2%.

EPS (Diluted)

$0.15

YoY+36.4%

QoQ-60.5%

5Y CAGR-18.6%

10Y CAGR+9.6%

National Vision Holdings, Inc. earned $0.15 per diluted share (EPS) in Q2 2027. This represents an increase of 36.4% from the same quarter a year earlier. Against the prior quarter it is down 60.5%.

Cash & Balance Sheet

Free Cash Flow

-$14.1M

YoY-133.2%

QoQ-131.9%

National Vision Holdings, Inc. recorded an outflow of $14.1M in free cash flow in Q2 2027, representing a cash shortfall after capex. This represents a decrease of 133.2% from the same quarter a year earlier. Against the prior quarter it is down 131.9%.

Cash & Debt

$36.0M

YoY-25.7%

QoQ-47.0%

5Y CAGR-38.5%

National Vision Holdings, Inc. held $36.0M in cash against $216.8M in long-term debt as of Q2 2027.

Shares Outstanding

79M

YoY-0.2%

QoQ-1.3%

5Y CAGR-0.7%

National Vision Holdings, Inc. had 79M shares outstanding in Q2 2027. This represents a decrease of 0.2% from the same quarter a year earlier. Against the prior quarter it is down 1.3%.

Dividends Per Share

Not reported for Q2 2027.

Margins & Returns

Gross Margin

58.2%

YoY-0.6pp

QoQ-1.5pp

5Y change+1.2pp

National Vision Holdings, Inc.'s gross margin was 58.2% in Q2 2027, indicating the percentage of revenue retained after direct costs. This is down 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.5 percentage points.

Operating Margin

4.3%

YoY+0.9pp

QoQ-4.0pp

5Y change-5.7pp

10Y change-1.1pp

National Vision Holdings, Inc.'s operating margin was 4.3% in Q2 2027, reflecting core business profitability. This is up 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 4.0 percentage points.

Net Margin

2.5%

YoY+0.7pp

QoQ-3.2pp

5Y change-4.4pp

10Y change+1.3pp

National Vision Holdings, Inc.'s net profit margin was 2.5% in Q2 2027, showing the share of revenue converted to profit. This is up 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.2 percentage points.

Return on Equity

1.4%

YoY+0.3pp

QoQ-2.1pp

5Y change-2.6pp

National Vision Holdings, Inc.'s ROE was 1.4% in Q2 2027, measuring profit generated per dollar of shareholder equity. This is up 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.1 percentage points.

Capital Allocation

Share Buybacks

$20.1M

YoY+36403.6%

QoQ+90.9%

5Y CAGR+238.8%

National Vision Holdings, Inc. spent $20.1M on share buybacks in Q2 2027, returning capital to shareholders by reducing shares outstanding. This represents an increase of 36403.6% from the same quarter a year earlier. Against the prior quarter it is up 90.9%.

Capital Expenditures

$22.2M

YoY+87.3%

QoQ+26.3%

5Y CAGR-0.2%

National Vision Holdings, Inc. invested $22.2M in capex in Q2 2027, funding long-term assets and infrastructure. This represents an increase of 87.3% from the same quarter a year earlier. Against the prior quarter it is up 26.3%.

R&D Spending

Not reported for Q2 2027.

EYE Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EYE quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Revenue	$2.0B	$2.0B+9.0%	$1.8B+3.8%	$1.8B+6.8%	$1.6B-20.9%	$2.1B+21.5%	$1.7B-0.7%	$1.7B+12.2%	$1.5B+11.7%	$1.4B+15.0%	$1.2B+12.6%	$1.1B
Cost of Revenue	$841.4M	$819.5M+7.3%	$764.1M+4.0%	$734.7M+10.0%	$667.7M-26.2%	$904.8M+15.0%	$786.6M-2.5%	$806.5M+13.0%	$713.6M+12.0%	$637.0M+16.9%	$544.8M+10.9%	$491.1M
Gross Profit	$1.2B	$1.2B+10.3%	$1.1B+3.7%	$1.0B+4.6%	$977.0M-16.8%	$1.2B+27.0%	$925.1M+0.8%	$917.8M+11.5%	$823.3M+11.5%	$738.3M+13.3%	$651.4M+14.0%	$571.4M
SG&A Expenses	$1.0B	$1.0B+8.3%	$938.5M+3.7%	$904.8M+8.7%	$832.6M-7.6%	$900.8M+24.3%	$725.0M-2.6%	$744.5M+8.3%	$687.5M+14.6%	$600.0M+14.1%	$525.9M+10.9%	$474.1M
Operating Income	$82.8M	$58.8M+667.9%	-$10.4M-142.3%	$24.5M-53.6%	$52.8M-69.8%	$174.9M+101.1%	$87.0M+18.3%	$73.6M+73.7%	$42.4M-34.1%	$64.3M+0.3%	$64.1M+43.4%	$44.7M
EBITDA	N/A	$150.0M+85.2%	$81.0M-29.2%	$114.4M-19.2%	$141.5M-48.0%	$272.0M+52.3%	$178.6M+11.1%	$160.8M+37.8%	$116.7M-7.6%	$126.3M+8.2%	$116.7M+31.6%	$88.7M
Interest Expense	$14.6M	$17.1M+6.0%	$16.2M+12.9%	$14.3M+3003.7%	$462K-98.2%	$25.6M-47.0%	$48.3M+45.1%	$33.3M-10.7%	$37.3M-32.9%	$55.5M+42.1%	$39.1M+6.4%	$36.7M
Income Tax	$17.9M	$12.1M+715.7%	$1.5M-75.3%	$6.0M-61.4%	$15.5M-26.3%	$21.1M+777.3%	$2.4M+204.1%	-$2.3M+87.7%	-$18.8M+51.7%	-$38.9M-434.5%	$11.6M+558.0%	$1.8M
Net Income	$50.3M	$29.6M+203.9%	-$28.5M+56.8%	-$65.9M-256.5%	$42.1M-67.2%	$128.2M+253.5%	$36.3M+10.6%	$32.8M+38.7%	$23.7M-45.2%	$43.1M+223.3%	$13.3M+268.9%	$3.6M
EPS (Basic)	N/A	$0.37+202.8%	-$0.36+57.1%	-$0.84-258.5%	$0.53-66.2%	$1.57+248.9%	$0.45+7.1%	$0.42+35.5%	$0.31-56.9%	$0.72+200.0%	$0.24+300.0%	$0.06
EPS (Diluted)	$0.61	$0.37+202.8%	-$0.36+57.1%	-$0.84-261.5%	$0.52-63.6%	$1.43+225.0%	$0.44+10.0%	$0.40+33.3%	$0.30-57.1%	$0.70+204.3%	$0.23+283.3%	$0.06
Diluted Shares (Avg)	N/A	81M+2.5%	79M0.0%	79M-2.1%	80M-16.5%	96M+16.1%	83M+1.4%	82M+3.3%	79M+27.4%	62M+8.8%	57M+1.9%	56M

Metric	Q2'2710-Q	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q
Revenue	$498.8M+2.5%	$543.9M+6.6%	$503.4M+15.1%	$487.3M+7.9%	$486.4M+7.7%	$510.3M+5.7%	$437.3M+3.9%	$451.5M+2.9%
Cost of Revenue	$208.4M+4.0%	$219.1M+6.8%	$210.7M+13.9%	$203.2M+7.0%	$200.4M+3.5%	$205.2M+4.9%	$185.0M+0.3%	$189.9M+3.3%
Gross Profit	$290.4M+1.5%	$324.7M+6.4%	$292.7M+16.0%	$284.1M+8.6%	$286.1M+10.8%	$305.1M+6.2%	$252.3M+6.6%	$261.6M+2.6%
SG&A Expenses	$243.4M-1.5%	$256.1M+0.2%	$261.2M	$252.3M+7.8%	$247.2M+6.8%	$255.5M+6.4%	N/A	$234.0M+2.8%
Operating Income	$21.3M+29.5%	$45.2M+73.1%	$6.6M+125.9%	$9.6M+208.9%	$16.4M+2683.2%	$26.1M+11.5%	-$25.6M-105.9%	-$8.8M-348.7%
EBITDA	$44.5M+14.2%	$68.7M+39.9%	$30.1M+1165.6%	$31.8M+129.2%	$39.0M+67.4%	$49.1M+5.2%	-$2.8M-125.8%	$13.9M-46.7%
Interest Expense	$3.3M-20.7%	$2.8M-37.7%	$4.2M	$4.1M+0.3%	$4.2M+31.7%	$4.6M+7.4%	N/A	$4.1M+10.4%
Income Tax	$5.5M+57.9%	$11.2M+51.9%	-$929K	$2.1M+158.3%	$3.5M+324.7%	$7.4M-0.7%	N/A	-$3.6M-2000.5%
Net Income	$12.4M+42.3%	$31.2M+119.8%	$3.3M+111.6%	$3.4M+139.8%	$8.7M+379.2%	$14.2M+21.4%	-$28.6M-78.8%	-$8.5M+88.5%
EPS (Basic)	$0.16+45.5%	$0.39+116.7%	$0.04+111.1%	$0.04+136.4%	$0.11+375.0%	$0.18+20.0%	-$0.36-80.0%	-$0.11+88.3%
EPS (Diluted)	$0.15+36.4%	$0.38+111.1%	$0.04+111.1%	$0.04+136.4%	$0.11+375.0%	$0.18+20.0%	-$0.36-80.0%	-$0.11+88.3%
Diluted Shares (Avg)	81M+0.7%	81M+2.8%	N/A	81M+3.2%	80M+1.9%	79M+0.5%	79M+0.6%	79M+0.6%

Not reported in any period shown, so not listed: R&D Expenses.

EYE Balance Sheet

EYE quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Total Assets	$2.0B-1.2%	$2.0B-7.6%	$2.2B-5.2%	$2.3B-0.1%	$2.3B-1.7%	$2.3B+14.8%	$2.0B+22.4%	$1.7B+5.0%	$1.6B+3.3%	$1.5B	N/A
Current Assets	$225.7M-9.6%	$249.8M-37.0%	$396.7M-16.3%	$473.8M-7.9%	$514.6M-9.2%	$566.6M+141.5%	$234.6M+9.3%	$214.7M+32.1%	$162.5M+10.3%	$147.3M	N/A
Cash & Equivalents	$38.7M-47.7%	$73.9M-50.7%	$149.9M-34.7%	$229.4M-25.0%	$305.8M-18.2%	$373.9M+850.4%	$39.3M+129.6%	$17.1M+307.1%	$4.2M-14.9%	$4.9M-11.6%	$5.6M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$89.3M-4.9%	$93.9M-21.7%	$119.9M-2.6%	$123.2M-0.4%	$123.7M+11.1%	$111.3M-12.8%	$127.6M+9.9%	$116.0M+27.3%	$91.2M+4.7%	$87.1M	N/A
Accounts Receivable	$57.3M+14.8%	$49.9M-42.5%	$86.9M+8.7%	$79.9M+43.4%	$55.7M-4.0%	$58.0M+30.4%	$44.5M-12.3%	$50.7M+17.5%	$43.2M+25.7%	$34.4M	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$700.6M+0.3%	$698.3M-2.7%	$717.5M-7.7%	$777.6M0.0%	$777.6M0.0%	$777.6M0.0%	$777.6M0.0%	$777.6M-1.9%	$792.7M-0.1%	$793.2M-0.4%	$796.6M
Total Liabilities	$1.1B-6.5%	$1.2B-11.3%	$1.3B-3.4%	$1.4B+1.7%	$1.4B-4.2%	$1.4B+13.6%	$1.3B+36.8%	$918.2M+1.7%	$903.2M-20.2%	$1.1B	N/A
Current Liabilities	$412.4M-11.9%	$468.3M+17.7%	$397.7M+15.5%	$344.3M+0.1%	$343.8M+4.6%	$328.7M+20.3%	$273.2M+29.1%	$211.7M+7.3%	$197.3M-1.2%	$199.7M	N/A
Non-Current Liabilities	$701.7M-3.0%	$723.2M-23.5%	$945.4M-9.6%	$1.0B+2.2%	$1.0B-6.8%	$1.1B+11.7%	$983.1M+39.1%	$706.6M+0.1%	$705.9M-24.3%	$931.9M	N/A
Long-Term Debt	$223.2M-6.7%	$239.1M-45.4%	$437.7M-19.9%	$546.2M+0.5%	$543.6M-13.0%	$624.6M+18.8%	$525.9M-7.8%	$570.5M+1.5%	$562.0M-23.9%	$738.3M	N/A
Total Equity	$869.5M+6.5%	$816.3M-1.6%	$829.4M-8.0%	$901.1M-2.7%	$926.0M+2.1%	$906.5M+16.8%	$776.4M+4.5%	$743.2M+9.5%	$678.8M+69.9%	$399.6M+3.7%	$385.3M
Retained Earnings	$255.7M+13.1%	$226.1M-11.2%	$254.6M-20.6%	$320.5M+15.1%	$278.4M+94.8%	$142.9M+33.4%	$107.1M+43.1%	$74.8M+32.9%	$56.3M+749.2%	-$8.7M	N/A

Metric	Q2'2710-Q	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q
Total Assets	$2.0B+0.8%	$2.0B+0.5%	$2.0B-1.2%	$2.0B-3.1%	$2.0B-8.3%	$2.0B-6.7%	$2.0B-7.6%	$2.0B-10.9%
Current Assets	$226.9M+4.2%	$260.6M+2.6%	$225.7M-9.6%	$220.2M-9.7%	$217.7M-40.3%	$254.1M-32.9%	$249.8M-37.0%	$243.7M-51.3%
Cash & Equivalents	$36.0M-25.7%	$67.9M-15.2%	$38.7M-47.7%	$56.0M-31.0%	$48.5M-73.0%	$80.0M-46.7%	$73.9M-50.7%	$81.2M-69.5%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$122.6M+36.7%	$107.7M+21.6%	$89.3M-4.9%	$88.0M+0.5%	$89.6M-1.4%	$88.6M-25.3%	$93.9M-21.7%	$87.6M-27.4%
Accounts Receivable	$34.9M-24.1%	$44.0M-17.3%	$57.3M+14.8%	$46.1M-1.4%	$46.0M-24.7%	$53.2M-28.4%	$49.9M-42.5%	$46.8M-38.9%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$701.0M+0.4%	$701.0M+0.4%	$700.6M+0.3%	$700.6M-2.4%	$698.3M-2.7%	$698.3M-2.7%	$698.3M-2.7%	$717.5M0.0%
Total Liabilities	$1.1B-2.8%	$1.1B-4.4%	$1.1B-6.5%	$1.1B-6.8%	$1.1B-14.2%	$1.2B-10.6%	$1.2B-11.3%	$1.2B-17.2%
Current Liabilities	$383.0M-8.4%	$418.5M-10.6%	$412.4M-11.9%	$417.0M-2.1%	$418.2M-36.9%	$468.2M+24.9%	$468.3M+17.7%	$426.1M+14.1%
Non-Current Liabilities	$703.5M+0.6%	$704.0M-0.3%	$701.7M-3.0%	$682.7M-9.5%	$699.5M+9.3%	$706.0M-24.8%	$723.2M-23.5%	$754.0M-28.4%
Long-Term Debt	$216.8M-12.5%	$220.0M-6.8%	$223.2M-6.7%	$229.7M-5.1%	$247.9M+87.2%	$236.1M-45.9%	$239.1M-45.4%	$242.2M-55.0%
Total Equity	$897.0M+5.5%	$898.0M+7.4%	$869.5M+6.5%	$858.8M+2.2%	$850.6M+0.9%	$836.2M-0.6%	$816.3M-1.6%	$840.0M0.0%
Retained Earnings	$299.3M+20.2%	$286.9M+19.4%	$255.7M+13.1%	$252.4M-0.9%	$249.0M-5.4%	$240.3M-9.8%	$226.1M-11.2%	$254.7M-5.9%

EYE Cash Flow Statement

EYE quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Cash Flow	$129.6M	$146.3M+9.5%	$133.6M-22.8%	$173.0M+45.2%	$119.2M-54.0%	$258.9M+10.2%	$235.0M+42.3%	$165.1M+54.8%	$106.6M+18.1%	$90.3M-7.5%	$97.6M+17.4%	$83.1M
Depreciation & Amortization	N/A	$91.2M-0.2%	$91.3M+1.6%	$89.9M+1.3%	$88.7M-8.7%	$97.1M+6.0%	$91.6M+5.0%	$87.2M+17.4%	$74.3M+20.0%	$62.0M+17.6%	$52.7M+19.5%	$44.1M
Stock-Based Compensation	N/A	$23.7M+41.8%	$16.7M-17.2%	$20.2M+49.3%	$13.5M-9.2%	$14.9M+38.6%	$10.7M-15.2%	$12.7M-39.5%	$20.9M+306.4%	$5.2M+20.0%	$4.3M-35.3%	$6.6M
Capital Expenditures	$80.5M	$72.8M-23.7%	$95.5M-16.8%	$114.8M+1.1%	$113.5M+18.9%	$95.5M+24.3%	$76.8M-24.2%	$101.3M-3.0%	$104.5M+12.1%	$93.2M+3.5%	$90.0M+16.7%	$77.2M
Free Cash Flow	$49.1M	$73.5M+92.6%	$38.1M-34.5%	$58.3M+931.0%	$5.7M-96.5%	$163.4M+3.3%	$158.2M+148.1%	$63.8M+2886.2%	$2.1M+172.0%	-$3.0M-139.2%	$7.6M+26.6%	$6.0M
Investing Cash Flow	-$78.4M	-$76.6M+20.3%	-$96.1M+17.0%	-$115.8M-4.4%	-$110.9M-19.4%	-$92.9M-21.6%	-$76.4M+24.1%	-$100.6M+3.4%	-$104.2M-10.2%	-$94.6M-4.0%	-$91.0M-13.6%	-$80.1M
Financing Cash Flow	-$63.8M	-$104.6M+7.7%	-$113.3M+17.2%	-$136.8M-61.8%	-$84.6M+63.9%	-$234.3M-232.9%	$176.3M+518.3%	-$42.1M-505.3%	$10.4M+170.9%	$3.8M+158.4%	-$6.6M-52.3%	-$4.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$171.0M	$0-100.0%	$145.7M
Share Buybacks	$32.1M	$3.2M+3.7%	$3.1M-89.1%	$28.4M-66.3%	$84.4M+15.1%	$73.3M+10537.9%	$689K-97.3%	$25.6M+1230.2%	$1.9M	$0-100.0%	$188K	N/A

Metric	Q2'2710-Q	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q
Operating Cash Flow	$8.1M-85.1%	$61.7M+91.4%	$13.2M-56.5%	$46.6M+67.0%	$54.3M+5.4%	$32.2M+34.4%	$30.3M+53.2%	$27.9M-32.0%
Depreciation & Amortization	$23.2M+3.0%	$23.4M+2.1%	$23.5M+3.2%	$22.2M-2.2%	$22.5M-0.7%	$23.0M-1.1%	$22.7M-2.6%	$22.7M+1.0%
Stock-Based Compensation	N/A	$7.0M-0.1%	N/A	N/A	N/A	$7.0M+185.2%	N/A	N/A
Capital Expenditures	$22.2M+87.3%	$17.6M-13.1%	$24.4M-23.8%	$16.4M-31.4%	$11.8M-39.6%	$20.2M+1.1%	$32.0M-2.4%	$23.9M-14.3%
Free Cash Flow	-$14.1M-133.2%	$44.1M+267.4%	-$11.2M-546.7%	$30.3M+646.6%	$42.4M+33.1%	$12.0M+202.4%	-$1.7M+86.7%	$4.1M-69.3%
Investing Cash Flow	-$16.5M-29.8%	-$18.3M+9.7%	-$24.3M+27.9%	-$19.4M+20.4%	-$12.7M+36.0%	-$20.2M-11.1%	-$33.7M-1.5%	-$24.3M+12.5%
Financing Cash Flow	-$23.9M+67.4%	-$14.1M-161.7%	-$6.1M-53.1%	-$19.7M+80.7%	-$73.4M-3138.7%	-$5.4M-4.5%	-$4.0M+96.1%	-$101.9M-4766.8%
Share Buybacks	$20.1M+36403.6%	$10.5M+547.7%	$650K+138.1%	$876K+1890.9%	$55K+1.9%	$1.6M-40.3%	$273K-63.7%	$44K-13.7%

Not reported in any period shown, so not listed: Dividends Paid.

EYE Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EYE quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Gross Margin	58.8%+0.7pp	58.1%-0.1pp	58.2%-1.2pp	59.4%+2.9pp	56.5%+2.4pp	54.0%+0.8pp	53.2%-0.3pp	53.6%-0.1pp	53.7%-0.8pp	54.5%+0.7pp	53.8%
Operating Margin	3.0%+3.5pp	-0.6%-2.0pp	1.4%-1.8pp	3.2%-5.2pp	8.4%+3.3pp	5.1%+0.8pp	4.3%+1.5pp	2.8%-1.9pp	4.7%-0.7pp	5.4%+1.2pp	4.2%
Net Margin	1.5%+3.0pp	-1.6%+2.2pp	-3.8%-6.3pp	2.6%-3.6pp	6.2%+4.0pp	2.1%+0.2pp	1.9%+0.4pp	1.5%-1.6pp	3.1%+2.0pp	1.1%+0.8pp	0.3%
Return on Equity	3.4%+6.9pp	-3.5%+4.5pp	-8.0%-12.6pp	4.7%-9.2pp	13.9%+9.8pp	4.0%-0.2pp	4.2%+1.0pp	3.2%-3.2pp	6.4%+3.0pp	3.3%+2.4pp	0.9%
Return on Assets	1.5%+2.9pp	-1.4%+1.6pp	-3.0%-4.9pp	1.8%-3.8pp	5.6%+4.0pp	1.6%-0.1pp	1.6%+0.2pp	1.4%-1.3pp	2.7%+1.9pp	0.9%	N/A
Current Ratio	0.550.0x	0.53-0.5x	1.00-0.4x	1.38-0.1x	1.50-0.2x	1.72+0.9x	0.86-0.2x	1.01+0.2x	0.82+0.1x	0.74	N/A
Debt-to-Equity	0.260.0x	0.29-0.2x	0.53-0.1x	0.610.0x	0.59-0.1x	0.690.0x	0.68-0.1x	0.77-0.1x	0.83-1.0x	1.85	N/A
Asset Turnover	1.00+0.1x	0.91+0.1x	0.81+0.1x	0.72-0.2x	0.91+0.2x	0.73-0.1x	0.85-0.1x	0.93+0.1x	0.87+0.1x	0.78	N/A
FCF Margin	3.7%+1.6pp	2.1%-1.2pp	3.3%+3.0pp	0.3%-7.5pp	7.9%-1.4pp	9.2%+5.5pp	3.7%+3.6pp	0.1%+0.4pp	-0.2%-0.9pp	0.6%+0.1pp	0.6%

Metric	Q2'2710-Q	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q
Gross Margin	58.2%-0.6pp	59.7%-0.1pp	58.1%+0.5pp	58.3%+0.4pp	58.8%+1.7pp	59.8%+0.3pp	57.7%+1.5pp	57.9%-0.2pp
Operating Margin	4.3%+0.9pp	8.3%+3.2pp	1.3%+7.2pp	2.0%+3.9pp	3.4%+3.2pp	5.1%+0.3pp	-5.9%-2.9pp	-1.9%-2.8pp
Net Margin	2.5%+0.7pp	5.7%+2.9pp	0.7%+7.2pp	0.7%+2.6pp	1.8%+2.5pp	2.8%+0.4pp	-6.5%-2.7pp	-1.9%+14.9pp
Return on Equity	1.4%+0.3pp	3.5%+1.8pp	0.4%+3.9pp	0.4%+1.4pp	1.0%+1.4pp	1.7%+0.3pp	-3.5%-1.6pp	-1.0%+7.8pp
Return on Assets	0.6%+0.2pp	1.5%+0.8pp	0.2%+1.6pp	0.2%+0.6pp	0.4%+0.6pp	0.7%+0.2pp	-1.4%-0.7pp	-0.4%+2.8pp
Current Ratio	0.59+0.1x	0.62+0.1x	0.550.0x	0.530.0x	0.520.0x	0.54-0.5x	0.53-0.5x	0.57-0.8x
Debt-to-Equity	0.240.0x	0.240.0x	0.260.0x	0.270.0x	0.29+0.1x	0.28-0.2x	0.29-0.2x	0.29-0.4x
Asset Turnover	0.250.0x	0.270.0x	0.250.0x	0.250.0x	0.250.0x	0.250.0x	0.220.0x	0.220.0x
FCF Margin	-2.8%-11.5pp	8.1%+5.8pp	-2.2%-1.8pp	6.2%+5.3pp	8.7%+1.7pp	2.4%+1.5pp	-0.4%+2.7pp	0.9%-2.1pp

Note: The current ratio is below 1.0 (0.55), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
National Vision Holdings, Inc. EYE	FY2025	$2.0B	$29.6M	1.5%	$1.4B	36/100
Winmark Corp WINA	FY2025	$86.1M	$41.7M	48.4%	$1.1B	68/100
Savers Value Village, Inc. SVV	FY2025	$1.7B	$22.6M	1.4%	$1.5B	42/100
Sally Beauty Holdings, Inc. SBH	FY2025	$3.7B	$195.9M	5.3%	$1.5B	54/100
Arhaus, Inc. ARHS	FY2025	$1.4B	$67.3M	4.9%	$1.1B	47/100
Petco Health and Wellness Company, Inc. WOOF	FY2025	$6.0B	$9.1M	0.1%	$701.7M	21/100

Where National Vision Holdings, Inc. Ranks

Frequently Asked Questions

What is National Vision Holdings, Inc.'s annual revenue?

National Vision Holdings, Inc. (EYE) reported $2.0B in total revenue for fiscal year 2025. 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 Holdings, Inc.'s revenue growing?

National Vision Holdings, Inc. (EYE) revenue grew by 9.0% year-over-year, from $1.8B to $2.0B in fiscal year 2025.

Is National Vision Holdings, Inc. profitable?

Yes, National Vision Holdings, Inc. (EYE) reported a net income of $29.6M in fiscal year 2025, with a net profit margin of 1.5%.

What is National Vision Holdings, Inc.'s EBITDA?

National Vision Holdings, Inc. (EYE) had EBITDA of $150.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does National Vision Holdings, Inc. have?

As of fiscal year 2025, National Vision Holdings, Inc. (EYE) had $38.7M in cash and equivalents against $223.2M in long-term debt.

What is National Vision Holdings, Inc.'s gross margin?

National Vision Holdings, Inc. (EYE) had a gross margin of 58.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is National Vision Holdings, Inc.'s operating margin?

National Vision Holdings, Inc. (EYE) had an operating margin of 3.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is National Vision Holdings, Inc.'s net profit margin?

National Vision Holdings, Inc. (EYE) had a net profit margin of 1.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is National Vision Holdings, Inc.'s return on equity (ROE)?

National Vision Holdings, Inc. (EYE) has a return on equity of 3.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is National Vision Holdings, Inc.'s free cash flow?

National Vision Holdings, Inc. (EYE) generated $73.5M in free cash flow during fiscal year 2025. 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 Holdings, Inc.'s operating cash flow?

National Vision Holdings, Inc. (EYE) generated $146.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are National Vision Holdings, Inc.'s total assets?

National Vision Holdings, Inc. (EYE) had $2.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are National Vision Holdings, Inc.'s capital expenditures?

National Vision Holdings, Inc. (EYE) invested $72.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does National Vision Holdings, Inc. buy back shares?

Yes, National Vision Holdings, Inc. (EYE) spent $3.2M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does National Vision Holdings, Inc. have outstanding?

National Vision Holdings, Inc. (EYE) had 79M shares outstanding as of fiscal year 2025.

What is National Vision Holdings, Inc.'s current ratio?

National Vision Holdings, Inc. (EYE) had a current ratio of 0.55 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is National Vision Holdings, Inc.'s debt-to-equity ratio?

National Vision Holdings, Inc. (EYE) had a debt-to-equity ratio of 0.26 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is National Vision Holdings, Inc.'s return on assets (ROA)?

National Vision Holdings, Inc. (EYE) had a return on assets of 1.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is National Vision Holdings, Inc.'s P/E ratio?

National Vision Holdings, Inc. (EYE) trades at 27.2x earnings, its market capitalization divided by net income of $50.3M net income, trailing 12 months to July 4, 2026. The market capitalization is $1.4B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is National Vision Holdings, Inc.'s price-to-sales ratio?

National Vision Holdings, Inc. (EYE) trades at 0.7x sales, its market capitalization divided by revenue of $2.0B revenue, trailing 12 months to July 4, 2026. The market capitalization is $1.4B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is National Vision Holdings, Inc.'s Altman Z-Score?

National Vision Holdings, Inc. (EYE) has an Altman Z-Score of 1.90, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is National Vision Holdings, Inc.'s Piotroski F-Score?

National Vision Holdings, Inc. (EYE) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are National Vision Holdings, Inc.'s earnings high quality?

National Vision Holdings, Inc. (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.

Can National Vision Holdings, Inc. cover its interest payments?

National Vision Holdings, Inc. (EYE) has an interest coverage ratio of 3.43x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is National Vision Holdings, Inc.?

National Vision Holdings, Inc. (EYE) scores 36 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.