National Vision Holdings (EYE) AI Stock Analysis

• Market Cap: $2.02B
• Dividend Yield: N/A
• Average Volume (3M): 1.93M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.04
• Revenue Growth: -7.25%
• EPS Growth: 82.63%
• Country: US
• Employees: 13,411
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): 0.18
• Shares Outstanding: 79,196,380
• 10 Day Avg. Volume: 1,640,867
• 30 Day Avg. Volume: 1,926,512
• PEG Ratio: 0.51
• Price to Book (P/B): 1.02
• Price to Sales (P/S): 0.46
• P/FCF Ratio: 21.78
• Enterprise Value/Market Cap: 1.25
• Enterprise Value/Revenue: 1.34
• Enterprise Value/Gross Profit: 2.29
• Enterprise Value/Ebitda: 23.28
• 1Y Price Target: $29.44
• Price Target Upside: 15.59% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 10

• Rating: 53 Neutral
• Price Target: $26.00 ▲(2.08% Upside)

The overall stock score is primarily influenced by the company's strong earnings call performance, which highlights strategic growth initiatives and improved operating income. However, financial performance challenges, including high debt reliance and unprofitability, weigh heavily on the score. Technical indicators suggest potential short-term weakness, and valuation metrics are unattractive due to negative earnings.

Positive Factors

Managed Care Business Growth

The strong growth in the managed care segment indicates a robust demand for services, which is a positive structural trend that can drive sustained revenue growth over the long term.

Brand Revitalization

Revitalizing the brand and launching new initiatives can enhance customer engagement and loyalty, leading to long-term competitive advantages and market share gains.

Product Assortment Expansion

Expanding product offerings with high-value items and designer partnerships can attract a broader customer base and improve profit margins, supporting long-term growth.

Negative Factors

Profitability Challenges

Ongoing profitability challenges suggest operational inefficiencies that could hinder long-term financial health and limit the company's ability to invest in growth opportunities.

High Debt Reliance

A high reliance on debt financing can strain financial flexibility and increase risk, potentially impacting the company's ability to weather economic downturns or invest in strategic initiatives.

Decline in Customer Transactions

A decline in customer transactions could indicate weakening demand or competitive pressures, which may affect revenue growth and market position if not addressed.

National Vision Holdings Business Overview & Revenue Model

Company Description

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. As of January 1, 2022, the company operated through 1,278 retail stores, as well as various e-commerce websites. National Vision Holdings, Inc. was founded in 1990 and is headquartered in Duluth, Georgia.

How the Company Makes Money

National Vision Holdings generates revenue primarily through the sale of eyewear products, including both prescription and non-prescription glasses, contact lenses, and related accessories. The company operates several well-known retail chains, such as Vision Centers located within Walmart, as well as standalone stores under the brands America's Best Contacts & Eyeglasses and Eyeglass World. Additional revenue streams include eye examinations and vision services offered in-store. Significant partnerships with major eyewear manufacturers and suppliers enable National Vision to offer a diverse product selection at competitive prices, further enhancing its revenue potential. The company's focus on providing value through promotions and bundled offers also attracts a large customer base, contributing to sustained earnings growth.

National Vision Holdings Financial Statement Overview

Summary

National Vision Holdings is facing profitability challenges despite slight revenue growth. The balance sheet shows a high reliance on debt, and while cash flow generation is improving, it is not sufficient to cover net losses. The company needs to address operational inefficiencies to improve margins and reduce debt reliance.

Income Statement

National Vision Holdings has shown a slight revenue growth in the TTM period with a 1.87% increase. However, the company is struggling with profitability, as indicated by negative net profit and EBIT margins. The gross profit margin remains stable, but the declining EBIT and net profit margins suggest operational challenges.

Balance Sheet

The company's debt-to-equity ratio is relatively high at 0.96, indicating a significant reliance on debt financing. The return on equity is negative, reflecting the company's current unprofitability. However, the equity ratio remains stable, suggesting a balanced asset structure.

Cash Flow

There is a positive growth in free cash flow, with a 22.86% increase in the TTM period. The operating cash flow to net income ratio is healthy, indicating good cash generation relative to net income. However, the free cash flow to net income ratio suggests that cash flow is not fully covering the net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2019	Dec 2018
Income Statement
Total Revenue	1.89B	1.82B	2.13B	2.01B	1.72B	1.54B
Gross Profit	1.11B	1.06B	1.13B	1.08B	917.81M	823.28M
EBITDA	108.52M	89.58M	53.12M	161.23M	169.71M	116.49M
Net Income	-14.15M	-28.50M	-65.90M	42.12M	32.80M	23.65M
Balance Sheet
Total Assets	1.97B	2.01B	2.17B	2.29B	2.03B	1.66B
Cash, Cash Equivalents and Short-Term Investments	48.47M	73.95M	149.90M	229.43M	39.34M	17.13M
Total Debt	719.34M	816.03M	923.46M	1.00B	953.40M	578.11M
Total Liabilities	1.12B	1.19B	1.34B	1.39B	1.26B	918.24M
Stockholders Equity	850.58M	816.33M	829.42M	901.11M	776.44M	743.15M
Cash Flow
Free Cash Flow	56.74M	38.14M	58.26M	5.65M	63.76M	2.13M
Operating Cash Flow	144.70M	133.65M	173.03M	119.20M	165.08M	106.63M
Investing Cash Flow	-90.97M	-96.09M	-115.82M	-110.89M	-100.63M	-104.22M
Financing Cash Flow	-184.73M	-113.34M	-136.81M	-84.56M	-42.14M	10.40M

National Vision Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 25.47
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EYE, the sentiment is Negative. The current price of 25.47 is below the 20-day moving average (MA) of 27.15, below the 50-day MA of 25.51, and above the 200-day MA of 18.90, indicating a neutral trend. The MACD of -0.15 indicates Positive momentum. The RSI at 43.43 is Neutral, neither overbought nor oversold. The STOCH value of 27.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EYE.

National Vision Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ULTA	80 Outperform	$23.21B	19.84	48.52%	―	2.94%	4.57%
MNSO	77 Outperform	$6.76B	20.82	22.92%	2.79%	10.93%	-10.89%
SBH	73 Outperform	$1.50B	8.17	28.94%	―	-0.38%	35.78%
RVLV	73 Outperform	$1.61B	35.94	10.36%	―	10.68%	37.84%
BBWI	63 Neutral	$5.57B	8.03	―	2.96%	-0.18%	-18.95%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
EYE	53 Neutral	$2.02B	-139.41	-1.77%	―	-7.25%	82.63%

National Vision Holdings Corporate Events

National Vision Holdings Reports Strong Q2 Earnings

National Vision Holdings’ recent earnings call painted a picture of strong financial performance and strategic initiatives that are driving growth, particularly in the managed care segment. The company is making significant strides in brand revitalization and operational efficiency, although challenges persist in the cash pay segment, and there is cautious guidance for the second half of the year.

National Vision Holdings Reports Strong Q2 2025 Growth

National Vision Holdings, Inc. is a leading optical retail company in the United States, operating over 1,200 stores across various brands, including America’s Best Contacts & Eyeglasses and Eyeglass World, with a mission to provide affordable and accessible eye care and eyewear. In the second quarter of 2025, National Vision reported a 7.7% increase in net revenue, reaching $486.4 million, and a 6.5% growth in comparable store sales, marking the tenth consecutive quarter of positive growth. The company also saw a significant improvement in profitability, with adjusted operating income rising by 69.1% to $23.8 million and adjusted diluted EPS increasing to $0.18. Key financial highlights include a 3.5% increase in costs applicable to revenue and a 6.8% rise in SG&A expenses, with overall store count growing by 2.0%. Looking ahead, National Vision has raised its fiscal 2025 outlook, reflecting confidence in its strategic direction, with plans to continue leveraging brand advertising and cost management to drive sustainable growth and long-term value for shareholders.

National Vision Holdings Announces New CEO Appointment

On August 1, 2025, National Vision Holdings expanded its Board of Directors to eleven members, appointing Alex Wilkes as a new director. This appointment is part of a CEO succession plan where Reade Fahs will become Executive Chairman, and Alex Wilkes will succeed him as CEO, indicating a strategic leadership transition within the company.

The most recent analyst rating on (EYE) stock is a Buy with a $36.00 price target. To see the full list of analyst forecasts on National Vision Holdings stock, see the EYE Stock Forecast page.