# National Vision Holdings, Inc. (EYE)

> Source: Nexqual · https://nexqual.com/EYE · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, National Vision Holdings, Inc. (EYE), nexqual.com/EYE" · informational, not investment advice.

**Price:** USD 17.66 (+3.70% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 17.03 · day 17.25–18.01 · 52w 14.75–30.02 · market cap $1.40B · NMS

## Key facts
- Last four reported quarters (through Jul 4, 2026): revenue $2.03B, net income $50.3M (2.5% margin), free cash flow $49.1M (SEC filings).
- Valuation: P/E 27.8x (avg 71.7x at the last 1 fiscal year-ends), EV/EBITDA 9.1x, net debt $194M.
- 1 of 80 tracked superinvestors hold EYE (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 2.17 on a 1–5 scale) (12 analysts), mean target USD 28.18 (range 20–35).
- Total return with dividends: 1Y -34.7% vs S&P 500 +18.1%; 5Y -72.2% vs S&P 500 +85.1%.
- Next earnings: 2026-11-04, EPS estimate USD 0.17, revenue estimate $513M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.08B | $1.64B | $1.76B | $1.82B | $1.99B | $2.03B |
| Operating income | $175M | $52.8M | $24.5M | -$10.4M | $58.8M | $82.8M |
| Net income | $128M | $42.1M | -$65.9M | -$28.5M | $29.6M | $50.3M |
| EPS (diluted) | $1.43 | $0.52 | -$0.84 | -$0.36 | $0.37 | — |
| Free cash flow | $163M | $5.7M | $58.3M | $38.1M | $73.5M | $49.1M |
| Operating margin | 8.4% | 3.2% | 1.4% | -0.6% | 3.0% | 4.1% |
| Net margin | 6.2% | 2.6% | -3.8% | -1.6% | 1.5% | 2.5% |
| Revenue growth | +21.5% | -20.9% | +6.8% | +3.8% | +9.0% | — |
| Cash + short-term investments | $306M | $229M | $150M | $73.9M | $38.7M | — |
| Total debt | $544M | $546M | $445M | $337M | $236M | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 4, 2026)
P/E 27.8x · P/S 0.7x · EV/EBITDA 9.1x · EV/Sales 0.8x · P/FCF 28.5x · P/B 1.6x · FCF yield 3.51% · Earnings yield 3.60% · Buyback yield (TTM) 2.30% · Net debt $194M · EV $1.59B
P/E at fiscal year-ends: Jan 2026 71.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold EYE. Change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.01% | $8.2M | Added +93.9% |

## Analysts
Consensus Buy (mean 2.17 on a 1–5 scale), 12 analysts; mean target USD 28.18 (low 20, high 35).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-13 | UBS | Target lowered | Buy | $36 → $34 |
| 2026-08-13 | Citigroup | Target lowered | Buy | $39 → $35 |
| 2026-08-13 | Morgan Stanley | Target lowered | Equal-Weight | $22 → $21 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | -34.7% | -72.2% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | -34.8% | -22.5% |
| Volatility (annualized) | 51.8% | 55.7% |
| Max drawdown | -47.6% (Dec 2025→Jun 2026) | -85.1% (Nov 2021→Sep 2024) |

## Peers (Specialty Retail)
ARHS (Arhaus, Inc.) USD 10.13 +5.52% · SVV (Savers Value Village, Inc.) USD 10.12 +9.64% · SBH (Sally Beauty Holdings, Inc. (Na) USD 17.12 +7.67% · HZO (MarineMax, Inc.  (FL)) USD 52.35 -0.08% · WINA (Winmark Corporation) USD 314.26 +11.29% · BOBS (Bob's Discount Furniture, Inc.) USD 14.78 +3.21%

## More
Full page: https://nexqual.com/EYE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt