National Vision Holdings (EYE) AI Stock Analysis

• Market Cap: $2.26B
• Dividend Yield: N/A
• Average Volume (3M): 1.93M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.97
• Revenue Growth: -1.58%
• EPS Growth: 85.04%
• Country: US
• Employees: 13,411
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): 0.13
• Shares Outstanding: 79,309,555
• 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: 1.28
• Enterprise Value/Revenue: 1.51
• Enterprise Value/Gross Profit: 2.57
• Enterprise Value/Ebitda: 23.08
• 1Y Price Target: $30.89
• Price Target Upside: 8.35% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 10
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: $29.00 ▲(1.72% Upside)

National Vision Holdings' overall stock score reflects moderate financial performance with significant challenges in profitability. The technical analysis suggests a neutral to slightly positive trend, while the valuation remains unattractive due to a negative P/E ratio. The earnings call provided a positive outlook with consistent sales growth and strategic initiatives, and the recent corporate event adds stability. However, profitability issues and valuation concerns weigh heavily on the overall score.

Positive Factors

Strategic Transformation

The strategic transformation aims to capture new customer segments and enhance product offerings, potentially driving long-term revenue growth and market expansion.

Operating Margin Expansion

Sustained margin expansion indicates improved operational efficiency and pricing power, enhancing profitability over the long term.

Cost Savings Plan

The cost savings plan through vendor renegotiations and efficiency improvements will strengthen financial health and support future investments.

Negative Factors

Profitability Challenges

Ongoing profitability issues, with negative net income, could hinder reinvestment and growth, posing a risk to long-term financial stability.

Healthcare Cost Headwinds

Rising healthcare costs can pressure margins and increase operational expenses, impacting overall profitability and competitiveness.

Flat Traffic in Cash Pay Segment

Flat traffic in the cash pay segment indicates potential challenges in attracting and retaining price-sensitive customers, affecting sales growth.

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 through multiple streams, primarily from the sale of eyewear products, including prescription glasses and contact lenses. The company offers a variety of pricing options, including value-focused promotions that attract customers seeking affordable eyewear solutions. Additional revenue is derived from eye examinations and vision care services provided in-store. National Vision has established partnerships with major eyewear brands and manufacturers, which helps it to maintain a competitive edge in pricing and product variety. Furthermore, the company's membership plans and vision insurance partnerships contribute to a steady influx of customers, enhancing overall sales and profitability.

National Vision Holdings Financial Statement Overview

Summary

National Vision Holdings shows moderate financial performance with challenges in profitability. The income statement indicates low margins and negative net income, while the balance sheet shows improved leverage but negative returns on equity. The cash flow statement is a bright spot, with strong free cash flow growth, suggesting potential for future financial stability if profitability issues are addressed.

Income Statement

National Vision Holdings shows a mixed performance in its income statement. The TTM data indicates a slight revenue growth of 1.9%, but the company is struggling with profitability, as evidenced by a negative net profit margin of -0.12%. The gross profit margin is relatively healthy at 58.7%, but the EBIT and EBITDA margins are low at 1.39% and 6.54%, respectively, indicating challenges in operational efficiency.

Balance Sheet

The balance sheet reflects moderate financial stability. The debt-to-equity ratio has improved to 0.81 in the TTM period, suggesting a better leverage position compared to previous years. However, the return on equity remains negative at -0.27%, highlighting ongoing profitability issues. The equity ratio is not explicitly provided, but the overall asset management appears stable.

Cash Flow

Cash flow analysis shows positive trends, with a significant free cash flow growth of 46.2% in the TTM period. The operating cash flow to net income ratio is 0.39, indicating that the company is generating cash flow despite net losses. The free cash flow to net income ratio of 0.51 further supports the company's ability to generate cash, albeit with room for improvement.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.92B	1.82B	2.13B	1.64B	2.08B	1.71B
Gross Profit	1.13B	1.06B	1.13B	977.01M	1.17B	925.14M
EBITDA	125.61M	89.58M	53.12M	158.73M	276.74M	178.59M
Net Income	-2.31M	-28.50M	-65.90M	42.12M	128.24M	36.28M
Balance Sheet
Total Assets	1.96B	2.01B	2.17B	2.29B	2.29B	2.33B
Cash, Cash Equivalents and Short-Term Investments	56.03M	73.95M	149.90M	229.43M	305.80M	373.90M
Total Debt	693.57M	816.03M	923.15M	1.00B	973.25M	1.04B
Total Liabilities	1.10B	1.19B	1.34B	1.39B	1.37B	1.43B
Stockholders Equity	858.76M	816.33M	829.42M	901.11M	925.98M	906.50M
Cash Flow
Free Cash Flow	82.95M	38.14M	58.26M	5.65M	163.42M	158.16M
Operating Cash Flow	163.42M	133.65M	173.03M	119.20M	258.94M	234.98M
Investing Cash Flow	-86.02M	-96.09M	-115.82M	-110.89M	-92.90M	-76.41M
Financing Cash Flow	-102.50M	-113.34M	-136.81M	-84.56M	-234.32M	176.28M

National Vision Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 28.51
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EYE, the sentiment is Positive. The current price of 28.51 is above the 20-day moving average (MA) of 27.43, above the 50-day MA of 26.97, and above the 200-day MA of 23.03, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 58.30 is Neutral, neither overbought nor oversold. The STOCH value of 89.88 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EYE.

National Vision Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ULTA	78 Outperform	$29.45B	25.44	47.97%	―	5.45%	4.28%
SBH	76 Outperform	$1.54B	8.32	27.54%	―	-0.42%	31.64%
GPC	69 Neutral	$18.61B	23.05	17.05%	3.33%	3.26%	-25.41%
BBY	62 Neutral	$13.97B	22.01	22.49%	5.46%	-0.95%	-48.28%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
EYE	57 Neutral	$2.26B	-848.51	-0.37%	―	-1.58%	85.04%
BBWI	53 Neutral	$4.71B	7.08	―	4.16%	-1.04%	-20.88%

National Vision Holdings Corporate Events

National Vision Extends Agreement with Essilor

On December 13, 2025, National Vision, Inc. and Essilor of America, Inc. agreed to amend their existing Letter Agreement, extending its term by two years to May 31, 2028, and updating pricing terms. This amendment signifies a continued partnership between the two companies, potentially strengthening National Vision’s market position and providing stability in its operations.

The most recent analyst rating on (EYE) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on National Vision Holdings stock, see the EYE Stock Forecast page.