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Nasdaq · Healthcare

National Vision Holdings, Inc. (EYE)

As-reported financials and SEC filings for National Vision Holdings, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About National Vision Holdings, Inc.

National Vision Holdings, Inc. operates as one of the largest optical retailers in the United States, providing eye exams, eyeglasses, and contact lenses through a network of approximately 1,250 retail stores under brands such as America’s Best Contacts and Eyeglasses, Eyeglass World, and Vista Optical. The company serves a diverse customer base across various income levels by offering a range of quality products at multiple price points and supports its retail operations with centralized laboratories and distribution systems. It also offers omni-channel and e-commerce platforms to enhance the customer shopping experience.

Snapshot

Revenue
$1.99B
Revenue growth (YoY)
9.0%
Net income
$29.6M
Diluted EPS
$0.37
Gross margin
—
Operating margin
3.0%
Net margin
1.5%
FCF margin
3.7%
ROE
3.4%
net income / fiscal-year-end equity
P/E
27.6×
trailing when available, otherwise FY EPS
Market cap
$1.40B
Long-term debt / equity
0.26×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended January 3, 2026). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at National Vision Holdings

  • Revenue grew 9.0% to $2.0B in FY2025, faster than the 3.8% the year before.
  • Operating margin is 3.0% in FY2025, -5.5 pp against 8.4% in FY2020.
  • Most recent quarter Q2 FY2026: revenue $499M, up 2.5% from Q2 FY2025.
  • Free cash flow was $73M in FY2025, 3.7% of revenue.
  • Net income turned positive at $30M in FY2025, from a $28M loss in FY2023.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where National Vision Holdings’s fundamentals sit among the 570 Healthcare companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin3.0%
56th percentile of 410
Net margin1.5%
56th percentile of 429
FCF margin3.7%
52nd percentile of 385
Revenue growth (YoY)+9.0%
48th percentile of 552
ROE3.4%
65th percentile of 481
P/E27.6×
58th percentile of 183
Long-term debt / equity0.26×
35th percentile of 251
Short interest6.22d
69th percentile of 568

No reported insider transactions (codes P/S) in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+6 quant / multi-strat
Initiated / added
4
0 new, 4 added
Reduced / exited
5
5 trimmed, 0 exited
Combined position
$62.3M
reported long value
InvestorAs ofPosition valueSharesChange
Millennium ManagementquantQ2 2026$13.9M729.6KAdded
D. E. ShawquantQ2 2026$12.7M667.2KAdded
Citadel AdvisorsquantQ2 2026$11.7M613.1KReduced
Renaissance TechnologiesquantQ2 2026$9.3M489.1KReduced
First Eagle Investment ManagementQ2 2026$8.2M429.6KAdded
AQR Capital ManagementquantQ2 2026$3.0M158.7KReduced
Bridgewater AssociatesQ2 2026$2.2M116.9KAdded
Two Sigma InvestmentsquantQ2 2026$785,11341.3KReduced
Gotham Asset ManagementQ2 2026$576,44030.3KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
0
—
Reported activity
Quiet
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-05
filed 2026-06-09
Michael J. NicholsonDirectorBuy50.0K$15.52$776K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
15.5M
settled 2026-09-30
Change vs prior
-0.8%
vs previous settlement
Days to cover
6.22
at avg daily volume
Avg daily volume
2.5M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-3015.5M-0.8%6.22
2026-09-1515.7M+11.5%7.40
2026-08-3114.1M-0.2%6.98
2026-08-1414.1M-1.4%5.62
2026-07-3114.3M-14.2%8.56
2026-07-1516.6M+0.5%8.95
2026-06-3016.6M+23.7%6.59
2026-06-1513.4M+17.8%5.77

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2023FY2022FY2021FY2020
Revenue$1.99B$1.82B$1.76B$1.64B$2.08B
Gross profit—————
Operating income$58.8M$-10.4M$24.5M$52.8M$174.9M
Net income$29.6M$-28.5M$-65.9M$42.1M$128.2M
Diluted EPS$0.37$-0.36$-0.84$0.52$1.43

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2023FY2022FY2021FY2020
Cash and equivalents$38.7M$73.9M$149.9M$229.4M$305.8M
Current assets$225.7M$249.8M$396.7M$473.8M$514.6M
Total assets$1.98B$2.01B$2.17B$2.29B$2.29B
Current liabilities$412.4M$468.3M$397.7M$344.3M$343.8M
Long-term debt$223.2M$239.1M$437.7M$546.2M$543.6M
Total liabilities
Total equity$869.5M$816.3M$829.4M$901.1M$926.0M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2023FY2022FY2021FY2020
Operating cash flow$146.3M$133.6M$173.0M$119.2M$258.9M
Capital expenditure$72.8M$95.5M$114.8M$113.5M$95.5M
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$498.8M2.5%$12.4M$0.15
Q1 FY2026$543.9M6.6%$31.2M$0.38
Q4 FY2025—
Q3 FY2025$487.3M—$3.4M$0.04
Q2 FY2025$486.4M—$8.7M$0.11
Q1 FY2025$510.3M—$14.2M$0.18
Q4 FY20233.9%
Q3 FY2023$451.5M2.9%$-8.5M$-0.11

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNasdaq
SectorHealthcare
SIC industryOphthalmic Goods
Latest annual periodFY2025 (ended January 3, 2026)
Latest reported quarterQ2 FY2026 (ended July 4, 2026)
Oldest indexed filing2017
SEC CIK1710155

Selected SEC filings

10-Q2026-08-13
View on EDGAR →
10-Q2026-05-14
View on EDGAR →
8-K2026-08-12
View on EDGAR →
8-K2026-06-22
View on EDGAR →
8-K2026-06-03
View on EDGAR →
8-K2026-05-13
View on EDGAR →

Largest Healthcare peers

All Healthcare companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.