National Vision Holdings, Inc.

NASDAQ•EYE

CEO: Mr. L. Reade Fahs

Sector: Consumer Cyclical

Industry: Specialty Retail

Listing Date: 2017-10-27

National Vision Holdings, Inc., through its subsidiaries, operates as an optical retailer in the United States. The company operates in two segments, Owned & Host and Legacy. It offers eyeglasses and contact lenses, and optical accessory products; provides eye exams through its America's Best, Eyeglass World, Vista Optical, Fred Meyer, and Vista Optical military, as well as Vision Center branded stores; and offers health maintenance organization and optometric services. National Vision Holdings, Inc. was founded in 1990 and is headquartered in Duluth, Georgia.

Contact Information

Building 2200, 2435 Commerce Avenue, Duluth, GA, 30096, United States

770-822-3600

www.nationalvision.com

Market Cap

$2.04B

P/E (TTM)

68.8

31.5

Dividend Yield

52W High

$30.02

52W Low

$10.75

52W Range

77%

Rank50Top 68.9%

3.1

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Weak • 3.1 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$503.41M+0.00%

4-Quarter Trend

EPS

$0.04+0.00%

4-Quarter Trend

FCF

-$11.24M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Strong Annual Revenue Growth Total net revenue 1.987B USD, up 9.0% from 1.823B USD, driven by comparable store sales growth and new store openings.

Significant Net Income Turnaround Net income 29.6M USD, improving from 28.5M USD loss in 2024, reflecting successful pricing initiatives and margin expansion efforts.

Adjusted EBITDA Increase Adjusted EBITDA 192.9M USD, up 24.1% from 155.5M USD, demonstrating improved operational efficiency and effective cost management across all brands.

Managed Care Revenue Growth Managed care revenue reached 42% of total revenue, with strategic goal to increase penetration to 50% of total revenue.

Risk Factors

Labor Market Constraints Shortage of optometrists and wage pressure continue to impact exam capacity and operating costs, potentially affecting future profitability and growth.

Vendor Concentration Risk 86% of lens expenditures from one supplier and 96% of contact lens expenditures from three vendors create significant supply chain dependency.

Regulatory Compliance Risks Extensive healthcare and vision care regulations, including telehealth restrictions, pose ongoing compliance costs and potential operational disruptions in specific jurisdictions.

Debt Leverage Impact 237.6M USD in term loan debt limits financial flexibility, with variable interest rates increasing exposure to potential market rate fluctuations.

Outlook

Store Expansion Strategy Plan to open 30-35 new stores in 2026, primarily America’s Best, with long-term goal of 240 new stores through 2030.

Share Repurchase Program Authorized 50M USD share repurchase program effective March 2026 through December 2030, funded by cash on hand to return value.

Digital Transformation Investment Continued investment in CRM and e-commerce platforms to enhance customer experience, drive retention, and support long-term growth and operational efficiency.

Peer Comparison

Revenue (TTM)

$18.28B

-3.2%

SAH

$15.15B

+6.5%

ADNT

$14.68B

+1.1%

Gross Margin (Latest Quarter)

SBET

97.6%

+76.4pp

EYE

53.5%

-4.2pp

RVLV

53.3%

+3.5pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
VSCO	$4.05B	26.9	22.7%	56.8%
LCII	$3.06B	16.2	13.8%	38.9%
UAA	$2.62B	-5.0	-29.5%	48.5%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-0.5%

Flat Growth

4Q Net Income CAGR

-38.4%

Declining Profitability

Cash Flow Stability

100%

Strong Cash Flow

Deep Research

Next earnings:May 5, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data