(EYE) National Vision Holdings - Overview
Sector: Consumer Cyclical | Industry: Specialty Retail | Exchange: NASDAQ (USA) | Market Cap: 1.372m USD | Total Return: -12.6% in 12m
Avg Turnover: 42.9M
EPS Trend: 68.2%
Qual. Beats: 0
Rev. Trend: 52.5%
Qual. Beats: 0
Warnings
Altman Z'' 0.48 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
No distinct edge detected
National Vision Holdings, Inc. (EYE) is a specialized optical retailer operating a portfolio of brands including America’s Best, Eyeglass World, and Vista Optical. The company provides comprehensive eye exams and sells prescription eyeglasses, contact lenses, and optical accessories through brick-and-mortar stores and e-commerce platforms. Its business model targets a broad demographic ranging from budget-conscious consumers to managed care members with vision benefits.
The optical retail sector is characterized by high customer loyalty and a recurring revenue model driven by the medical necessity of vision correction. National Vision utilizes a multi-brand strategy to capture market share across different price points and service requirements, including dedicated locations on military bases and within select grocery chains. This integrated approach combines clinical services with retail sales to drive store traffic.
For a more detailed analysis of the companys financial health, investors should consult ValueRay. National Vision Holdings was founded in 1990 and maintains its corporate headquarters in Duluth, Georgia.
- Termination of Walmart partnership reduces long-term revenue and retail footprint
- Low-income consumer spending sensitivity impacts exam volume and eyewear sales
- Optometrist wage inflation and labor shortages pressure store operating margins
- Managed care membership growth drives consistent recurring patient traffic
- Managed vision care reimbursement rates influence overall gross profit margins
| Net Income: 46.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 2.93 > 1.0 |
| NWC/Revenue: -7.81% < 20% (prev -11.57%; Δ 3.76% < -1%) |
| CFO/TA 0.09 > 3% & CFO 175.8m > Net Income 46.6m |
| Net Debt (1.07b) to EBITDA (170.3m): 6.31 < 3 |
| Current Ratio: 0.62 > 1.5 & < 3 |
| Outstanding Shares: last quarter (81.5m) vs 12m ago 2.82% < -2% |
| Gross Margin: 54.23% > 18% (prev 0.57%; Δ 5.37k% > 0.5%) |
| Asset Turnover: 100.3% > 50% (prev 92.07%; Δ 8.21% > 0%) |
| Interest Coverage Ratio: 5.10 > 6 (EBITDA TTM 170.3m / Interest Expense TTM 15.4m) |
| A: -0.08 (Total Current Assets 260.6m - Total Current Liabilities 418.5m) / Total Assets 2.02b |
| B: 0.14 (Retained Earnings 286.9m / Total Assets 2.02b) |
| C: 0.04 (EBIT TTM 78.6m / Avg Total Assets 2.02b) |
| D: 0.26 (Book Value of Equity 288.0m / Total Liabilities 1.12b) |
| Altman-Z'' = 0.48 = B |
| DSRI: 0.76 (Receivables 44.0m/53.2m, Revenue 2.02b/1.85b) |
| GMI: 1.05 (GM 54.23% / 56.96%) |
| AQI: 1.02 (AQ_t 0.51 / AQ_t-1 0.50) |
| SGI: 1.09 (Revenue 2.02b / 1.85b) |
| TATA: -0.06 (NI 46.6m - CFO 175.8m) / TA 2.02b) |
| Beneish M = -3.17 (Cap -4..+1) = AA |
As of May 27, 2026, the stock is trading at USD 16.61 with a total of 1,734,381 shares traded.
Over the past week, the price has changed by -4.10%,
over one month by -32.92%,
over three months by -39.07% and
over the past year by -12.62%.
National Vision Holdings has received a consensus analysts rating of 4.09. Therefore, it is recommended to buy EYE.
- StrongBuy: 6
- Buy: 0
- Hold: 5
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 29.3 | 76.2% |
P/E Trailing = 30.5893
P/E Forward = 20.79
P/S = 0.6791
P/B = 1.5586
Revenue TTM = 2.02b USD
EBIT TTM = 78.6m USD
EBITDA TTM = 170.3m USD
Long Term Debt = 225.2m USD (from longTermDebt, last quarter)
Short Term Debt = 107.9m USD (from shortTermDebt, last quarter)
Debt = 1.14b USD (from shortLongTermDebtTotal, last quarter) + Leases 450.3m
Net Debt = 1.07b USD (calculated: Debt 1.14b - CCE 67.9m)
Enterprise Value = 2.45b USD (1.37b + Debt 1.14b - CCE 67.9m)
Interest Coverage Ratio = 5.10 (Ebit TTM 78.6m / Interest Expense TTM 15.4m)
EV/FCF = 23.18x (Enterprise Value 2.45b / FCF TTM 105.6m)
FCF Yield = 4.31% (FCF TTM 105.6m / Enterprise Value 2.45b)
FCF Margin = 5.22% (FCF TTM 105.6m / Revenue TTM 2.02b)
Net Margin = 2.31% (Net Income TTM 46.6m / Revenue TTM 2.02b)
Gross Margin = 54.23% ((Revenue TTM 2.02b - Cost of Revenue TTM 925.0m) / Revenue TTM)
Gross Margin QoQ = 55.40% (prev 53.48%)
Tobins Q-Ratio = 1.21 (Enterprise Value 2.45b / Total Assets 2.02b)
Interest Expense / Debt = 1.35% (Interest Expense 15.4m / Debt 1.14b)
Taxrate = 26.44% (11.2m / 42.4m)
NOPAT = 57.8m (EBIT 78.6m * (1 - 26.44%))
Current Ratio = 0.62 (Total Current Assets 260.6m / Total Current Liabilities 418.5m)
Debt / Equity = 1.27 (Debt 1.14b / totalStockholderEquity, last quarter 898.0m)
Debt / EBITDA = 6.31 (Net Debt 1.07b / EBITDA 170.3m)
Debt / FCF = 10.18 (Net Debt 1.07b / FCF TTM 105.6m)
Total Stockholder Equity = 869.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.31% (Net Income 46.6m / Total Assets 2.02b)
RoE = 5.36% (Net Income TTM 46.6m / Total Stockholder Equity 869.2m)
RoCE = 7.18% (EBIT 78.6m / Capital Employed (Equity 869.2m + L.T.Debt 225.2m))
RoIC = 3.38% (NOPAT 57.8m / Invested Capital 1.71b)
WACC = 6.32% (E(1.37b)/V(2.51b) * Re(10.76%) + D(1.14b)/V(2.51b) * Rd(1.35%) * (1-Tc(0.26)))
Discount Rate = 10.76% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 82.22 | Cagr: 1.81%
[DCF] Terminal Value 77.97% ; FCFF base≈81.8m ; Y1≈93.8m ; Y5≈138.0m
[DCF] Fair Price = 12.52 (EV 2.08b - Net Debt 1.07b = Equity 1.00b / Shares 80.1m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 68.17 | EPS CAGR: 13.13% | SUE: 0.67 | # QB: 0
Revenue Correlation: 52.45 | Revenue CAGR: 1.73% | SUE: -0.04 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.19 | Chg30d=-10.34% | Revisions=-54% | Analysts=12
EPS next Quarter (2026-09-30): EPS=0.20 | Chg30d=-6.38% | Revisions=-57% | Analysts=12
EPS current Year (2026-12-31): EPS=0.97 | Chg30d=-2.12% | Revisions=-20% | GrowthEPS=+21.1% | GrowthRev=+3.9%
EPS next Year (2027-12-31): EPS=1.18 | Chg30d=-5.59% | Revisions=-71% | GrowthEPS=+22.2% | GrowthRev=+5.8%
[Analyst] Revisions Ratio: -71%