National Vision Holdings, Inc. EYE

Healthcare SIC 3851 - Ophthalmic Goods NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Ophthalmic Goods Manufacturing derived Nasdaq

National Vision Holdings, Inc., a Delaware corporation, and its consolidated subsidiaries are referred to here as "we," "our," "us," "the Company," or "National Vision." National Vision Holdings, Inc. conducts substantially all of its activities through its indirect, wholly-owned subsidiary, National Vision, Inc. ("NVI"), and NVI's subsidiaries.

We are one of the largest optical retailers in the United States ("U.S.") and a leader in the value segment of the U.S. optical retail industry. We believe that vision is central to quality of life and that people deserve to see their best to live their best. Our mission is to help people by making quality eye care and eyewear more affordable and accessible. We achieve this by providing eye exams, eyeglasses and contact lenses to consumers across the nation. Our range of quality product offerings at multiple price points makes us an attractive destination for consumers of all income levels. As of January 3, 2026, our 2025 fiscal year end, we reach our customers through a diverse portfolio of 1,250 retail stores across four brands, our associated omni-channel consumer websites, and our dedicated e-commerce consumer website, DiscountContacts.com.

Last close 18.67 2026-10-23
Market cap $1.48B 2026-07-04 share count
52-week range 14.75 - 30.02

Valuation FY2025 figures against the last close

P/S0.7x
P/E50.5x
P/FCF20.1x
EV/EBITDA28.5x
Dividend yield—
Diluted EPS0.37

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.99B$1.82B$1.76B$1.64B$2.08B$1.71B$1.72B$1.54B$1.38B$1.20B
Cost of revenue ———————$713.6M$637.0M$544.8M
Gross profit ———————$823.3M$738.3M$651.4M
SG&A $1.02B$938.5M$904.8M$832.6M$900.8M$725.0M$744.5M$687.5M$600.0M$525.9M
Total operating expenses $1.11B$1.07B$997.2M$924.2M$999.8M$838.1M$844.2M$780.9M$674.1M$587.3M
Operating income $58.8M-$10.4M$24.5M$52.8M$174.9M$87.0M$73.6M$42.4M$64.3M$64.1M
Interest expense ————————$55.5M$39.1M
Pre-tax income $41.7M-$25.7M$9.6M$52.3M$149.3M$38.7M$30.5M$4.9M$4.2M$25.0M
Income tax $12.1M$1.5M$6.0M$15.5M$21.1M$2.4M$2.3M$18.8M$38.9M$11.6M
Net income $29.6M-$28.5M-$65.9M$42.1M$128.2M$36.3M$32.8M$23.7M$43.1M$13.3M
EPS, basic 0.37-0.36-0.840.531.570.450.420.310.720.24
EPS, diluted 0.37-0.36-0.840.521.430.440.400.300.700.23
Shares, diluted (wtd. avg.) 80.6M78.6M78.6M80.3M96.1M82.8M81.7M79.0M62.0M57.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $38.7M$73.9M$149.9M$230.6M$306.9M$375.2M$40.3M$18.0M$5.2M$5.7M
Receivables $57.3M$49.9M$86.9M$79.9M$55.7M$58.0M$44.5M$50.7M$43.2M$34.4M
Inventory $89.3M$93.9M$119.9M$123.2M$123.7M$111.3M$127.6M$116.0M$91.2M$87.1M
Total current assets $225.7M$249.8M$396.7M$473.8M$514.6M$566.6M$234.6M$214.7M$162.5M$147.3M
Property, plant and equipment ———————$355.1M$302.3M$256.4M
Goodwill $700.6M$698.3M$717.5M$777.6M$777.6M$777.6M$777.6M$777.6M$792.7M$793.2M
Other intangibles $7.6M$8.3M$20.2M$34.7M$42.0M$49.5M$56.9M$64.5M$72.9M—
Total assets $1.98B$2.01B$2.17B$2.29B$2.29B$2.33B$2.03B$1.66B$1.58B$1.53B
Accounts payable $79.0M$53.6M$67.6M$65.3M$64.3M$64.9M$40.8M$43.6M$35.7M$39.4M
Short-term debt $13.2M$98.0M$7.5M$0$0$0$10.5M———
Total current liabilities $412.4M$468.3M$397.7M$344.3M$343.8M$328.7M$273.2M$211.7M$211.3M$199.7M
Long-term debt $223.2M$239.1M$437.7M$546.2M$543.6M$624.6M$525.9M———
Retained earnings $255.7M$226.1M$254.6M$320.5M$278.4M$142.9M$107.1M$74.8M$32.2M-$8.7M
Total equity $869.5M$816.3M$829.4M$901.1M$926.0M$906.5M$776.4M$743.2M$654.6M$399.6M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $146.3M$133.6M$173.0M$119.2M$258.9M$235.0M$165.1M$106.6M$90.3M$97.6M
Depreciation and amortisation ————————$52.7M$42.8M
Stock-based compensation $23.7M$16.7M$20.2M$13.5M$14.9M$10.7M$12.7M$20.9M$5.2M$4.3M
Capital expenditure $72.8M$95.5M$114.8M$113.5M$95.5M$76.8M$101.3M$104.5M$93.2M$90.0M
Investing cash flow -$76.6M-$96.1M-$115.8M-$110.9M-$92.9M-$76.4M-$100.6M-$104.2M-$94.6M-$91.0M
Financing cash flow -$104.6M-$113.3M-$136.8M-$84.6M-$234.3M$176.3M-$42.1M$10.4M$3.8M-$6.6M
Dividends paid ——————$0$0$171.0M$0
Buybacks $3.2M$3.1M$28.4M$84.4M$73.3M$689.0K$25.6M$1.9M$0$188.0K

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-018642.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B Revenue, FY2016: 1.2B Gross profit, FY2016: 651.4M Net income, FY2016: 13.3M Revenue, FY2017: 1.4B Gross profit, FY2017: 738.3M Net income, FY2017: 43.1M Revenue, FY2018: 1.5B Gross profit, FY2018: 823.3M Net income, FY2018: 23.7M Revenue, FY2019: 1.7B Net income, FY2019: 32.8M Revenue, FY2020: 1.7B Net income, FY2020: 36.3M Revenue, FY2021: 2.1B Net income, FY2021: 128.2M Revenue, FY2022: 1.6B Net income, FY2022: 42.1M Revenue, FY2023: 1.8B Net income, FY2023: -65.9M Revenue, FY2024: 1.8B Net income, FY2024: -28.5M Revenue, FY2025: 2B Net income, FY2025: 29.6M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.20B $1.38B $1.54B $1.72B $1.71B $2.08B $1.64B $1.76B $1.82B $1.99B
Gross profit $651.4M $738.3M $823.3M — — — — — — —
Net income $13.3M $43.1M $23.7M $32.8M $36.3M $128.2M $42.1M -$65.9M -$28.5M $29.6M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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