EYE · National Vision Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.99B | $1.82B | $2.13B | $2.01B | $2.08B | $1.71B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $1.02B | $938.52M | $991.88M | $915.36M | $900.80M | $720.59M |
| Total Operating Expenses | $1.11B | $1.07B | $1.17B | $1.02B | $999.81M | $838.13M |
| D&A | $91.15M | $91.35M | $98.25M | $99.96M | $97.09M | $91.58M |
| Operating Income | $58.83M | ($10.36M) | ($46.83M) | $61.27M | $174.94M | $87.01M |
| Interest Expense | - | - | - | - | $25.61M | $48.17M |
| Income Tax | $12.08M | $1.48M | $4.14M | $18.69M | $21.08M | $2.40M |
| Net Income | $29.60M | ($28.50M) | ($65.90M) | $42.12M | $128.24M | $36.28M |
| EPS - Basic | $0.37 | ($0.36) | ($0.84) | $0.53 | $1.57 | $0.45 |
| EPS - Diluted | $0.37 | ($0.36) | ($0.84) | $0.52 | $1.43 | $0.44 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $38.71M | $73.95M | $149.90M | $229.43M | $305.80M | $373.90M |
| Accounts Receivable | $57.32M | $49.94M | $86.85M | $79.89M | $55.70M | $57.99M |
| Inventory | $89.32M | $93.92M | $119.91M | $123.16M | $123.67M | $111.27M |
| Accounts Payable | $79.00M | $53.64M | $67.56M | $65.28M | $64.33M | $64.86M |
| Current Assets | $225.72M | $249.83M | $396.67M | $473.84M | $514.58M | $566.65M |
| Total Assets | $1.98B | $2.01B | $2.17B | $2.29B | $2.29B | $2.33B |
| Current Liabilities | $412.41M | $468.27M | $397.70M | $344.26M | $343.80M | $328.68M |
| Long-term Debt | $223.24M | $239.15M | $437.68M | $546.23M | $543.57M | $624.61M |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $869.53M | $816.33M | $829.42M | $901.11M | $925.98M | $906.50M |
| Retained Earnings | $255.72M | $226.12M | $254.62M | $320.52M | $278.39M | $142.88M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $146.29M | $133.65M | $173.03M | $119.20M | $258.94M | $234.98M |
| Investing Cash Flow | ($76.61M) | ($96.09M) | ($115.82M) | ($110.89M) | ($92.90M) | ($76.41M) |
| Financing Cash Flow | ($104.62M) | ($113.34M) | ($136.81M) | ($84.56M) | ($234.32M) | $176.28M |
| CapEx | $72.84M | $95.50M | $114.77M | $113.55M | $95.52M | $76.82M |
| Free Cash Flow | $73.45M | $38.14M | $58.26M | $5.65M | $163.42M | $158.16M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 3.0% | -0.6% | -2.2% | 3.1% | 8.4% | 5.1% |
| EBITDA margin | 7.5% | 4.4% | 2.4% | 8.0% | 13.1% | 10.4% |
| Net margin | 1.5% | -1.6% | -3.1% | 2.1% | 6.2% | 2.1% |
| Free cash flow margin | 3.7% | 2.1% | 2.7% | 0.3% | 7.9% | 9.2% |
| FCF / Net income | 2.48 | -1.34 | -0.88 | 0.13 | 1.27 | 4.36 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 51.1% | 51.5% | 46.6% | 45.6% | 43.3% | 42.1% |
| Effective tax rate | 29.0% | - | - | 30.7% | 14.1% | 6.2% |
| Return on assets | 1.5% | -1.4% | -3.0% | 1.8% | 5.6% | 1.6% |
| Return on equity | 3.4% | -3.5% | -7.9% | 4.7% | 13.8% | 4.0% |
| Return on invested capital | 3.8% | -0.8% | -2.9% | 2.9% | 10.2% | 5.3% |
| Liquidity | ||||||
| Current ratio | 0.55 | 0.53 | 1.00 | 1.38 | 1.50 | 1.72 |
| Quick ratio | 0.33 | 0.33 | 0.70 | 1.02 | 1.14 | 1.39 |
| Cash ratio | 0.09 | 0.16 | 0.38 | 0.67 | 0.89 | 1.14 |
| Leverage | ||||||
| Debt / Equity | 0.26 | 0.29 | 0.53 | 0.61 | 0.59 | 0.69 |
| Debt / Assets | 0.11 | 0.12 | 0.20 | 0.24 | 0.24 | 0.27 |
| Debt / EBITDA | 1.49 | 2.95 | 8.51 | 3.39 | 2.00 | 3.50 |
| Interest coverage | - | - | - | - | 6.8x | 1.8x |
| Equity multiplier | 2.28 | 2.46 | 2.62 | 2.54 | 2.48 | 2.57 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 1.00 | 0.91 | 0.98 | 0.88 | 0.91 | 0.73 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 11d | 10d | 15d | 15d | 10d | 12d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 70.1x | - | - | 74.5x | 33.6x | 102.9x |
| P / B | 2.4x | 1.0x | 2.0x | 3.5x | 5.0x | 4.1x |
| P / S | 1.1x | 0.4x | 0.8x | 1.6x | 2.2x | 2.2x |
| EV / EBITDA | 15.2x | 12.2x | 37.5x | 21.3x | 17.8x | 22.4x |
| Growth | ||||||
| Revenue growth (YoY) | 9.0% | -14.3% | 6.0% | -3.6% | 21.5% | -0.7% |
| Revenue CAGR (3y) | -0.3% | -4.3% | 7.5% | 5.2% | 20.2% | 17.2% |
| Revenue CAGR (5y) | 3.0% | 1.1% | 12.2% | 13.5% | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | - | 77.9% | - | -65.0% | 101.1% | 18.3% |
| Net income growth (YoY) | - | 56.8% | - | -67.2% | 253.5% | 10.6% |
| EPS growth (YoY) | - | 57.1% | - | -63.6% | 225.0% | 10.0% |
| EPS CAGR (3y) | -10.7% | - | - | 9.1% | 68.3% | 94.3% |
| EPS CAGR (5y) | -3.4% | - | - | 54.0% | - | - |
| FCF growth (YoY) | 92.6% | -34.5% | 931.0% | -96.5% | 3.3% | 148.1% |
| FCF CAGR (5y) | -14.2% | -9.8% | 93.7% | -1.1% | - | - |
| Book value growth (YoY) | 6.5% | -1.6% | -8.0% | -2.7% | 2.1% | 16.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-01-03.
Business segments
$1.98B totalOwned And Host Store Brands$1.98B · 100.0%
Product / service
$3.97B totalProduct Sales$1.60B · 40.4%
Eyeglasses And Sunglasses$1.27B · 31.9%
Services And Plans$382.90M · 9.6%
Contact Lenses$324.20M · 8.2%
Exam$254.70M · 6.4%
Product Protection Plans$73.56M · 1.9%
Eyecare Clubs$54.63M · 1.4%
Accessories And Other$11.27M · 0.3%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
7/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Ophthalmic Goods
Comparing National Vision Holdings against the 5 most active filers in the same SIC group.