⬤ Loading…
National Vision Holdings, Inc.
…
NASDAQ: EYE Consumer Discretionary Consumer 🔎 Screen
🏹 Trader: 📊 High Volume View all →
$1.3B
Market Cap
26.9
P/E
1.04
PEG
4.9%
ROCE
5.3%
ROE
0.78
D/E
4.6%
OPM
-41.9%
% from 52W High
20
α RS
⚖️ Compare 🔒 Generate Report 🔒 Research Packet 📚 Guides
🌏 Global Investor Returns
Currency-adjusted total returns for EYE including FX impact
🌏
Click 🌏 Returns tab to load data
📈 Price History
Ratio Health
— Excellent
— Good
— Average
— Poor
By Category
📊 Peer Medians
About

National Vision Holdings, Inc., through its subsidiaries, operates as an optical retailer in the United States. The company offers eyeglasses and contact lenses, and optical accessory products; and provides eye exams through its America's Best, Eyeglass World, Vista Optical, Fred Meyer, Vista Optical military, and DiscountContacts.com. It also offers health maintenance organization and optometric services. In addition, the company sells prescription and non-prescription eyewear, contact lenses and related accessories to retail customers. The company serves a diverse customer base, including price-driven consumers, style leaders, wellness shoppers with vision benefits, managed care customers, outside prescription customers, and progressive lens wearers. The company was formerly known as National Vision, Inc. and changed its name to National Vision Holdings, Inc. in March 2014. The company was founded in 1990 and is headquartered in Duluth, Georgia.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
Loading…
⭐ Superinvestors Holding EYE
View All Superinvestors →
Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 611.7K $15.8M 0.02% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔒
Premium Feature
AI-generated 10-section company profile — business model, financials, strengths, risks & management quality
Upgrade to Premium
Already a member? Log in
📐
3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
Open Model →
📊 MIXED National Vision Q1 revenue up 6.6% to $544M; adj op margin expands to 10.2%.
Revenue & Profitability
Q1 2026 net revenue was $544 million, up 6.6% year-over-year. Adjusted operating income was $55.5 million, up from $41.3 million in the prior year, and adjusted operating margin expanded 210 basis points to 10.2%. Adjusted diluted EPS was $0.45 versus $0.34 in Q1 2025. Full-year 2026 guidance reaffirmed: net revenue $2.03B-$2.09B, adjusted operating income $107M-$133M, adjusted EPS $0.85-$1.09.
Outlook
Management sees continued demand from managed care customers, while cash-pay traffic remains suppressed category-wide. The macro backdrop includes choppiness from weather, gas price spikes, and consumer uncertainty. The company believes its value proposition and premiumization efforts position it well. It reaffirmed full-year 2026 guidance despite near-term headwinds from website replatforming.
Growth Drivers
Four growth vectors: growing demand, improving ticket, expanding footprint, and driving operating margin. Key drivers include premium frame and lens mix (e.g., Ray-Ban Meta, Nikon Lenswear), managed care customer penetration (targeting 50% of mix), store segmentation (starting late Q2 for America's Best, Q4 for Eyeglass World), and military expansion (20 new AAFES stores added in Q1).
Balance Sheet & CapEx
Full-year 2026 CapEx is expected to be $73M-$78M, including 30-35 new America's Best stores and 10-15 closures (net ~20-25 new stores). Q1 CapEx was $17.6 million, mainly for new and existing stores and IT. The company invested in replatforming americasbest.com in early Q2 to strengthen its digital foundation and prepare for AI-driven commerce.
Margins
Adjusted operating margin expanded 210 bps to 10.2% in Q1, driven by SG&A leverage (lower associate expenses and advertising). For full-year 2026, management expects approximately 100 bps of adjusted operating margin expansion excluding the 53rd week, with gross margin roughly flattish to nominally negative due to product mix. SG&A leverage is the primary driver.
Key Risks
Risks flagged include disruption from the americasbest.com replatform causing lower exam bookings and low-single-digit comps in Q2 (sequentially improving). Macro headwinds such as winter storms, gas price spikes, and a volatile backdrop affecting cash-pay customers. No tariff recovery is assumed in guidance. The company also faces execution risk from multiple transformation initiatives.
Generated by AI · Q1 2026 results · Not investment advice
🔒
Free Account Required

Create a free Finmagine account to access Finmagine™ Scorecard.

See how this company scores across 5 dimensions — Financial Health, Growth Prospects, Competitive Position, Management Quality, and Valuation — powered by 30+ computed ratios.

Create Free AccountLog In
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Ask AI.

Get 25 expert AI analysis templates — Business KPIs, Comprehensive, Forensic Governance, Peer Comparison, Risk-Reward, Full Research Report, IPO Decoder, Red Flag Detector, and more — ready to paste into ChatGPT, Claude, Gemini, or Perplexity.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Peer Comparison.

Compare this company side-by-side against its sector peers with financial metrics, ratio benchmarking, and relative performance across all key dimensions.

Upgrade to PremiumCreate Free Account
✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
🔍
🔎 See cross-company document search → ?
📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-12
Q2 saw 2.5% revenue growth and 140 bps margin expansion, driven by premium product mix and higher value customers, despite traffic headwinds from deferred lower value transactions and a temporary e-commerce re-platform impact. Full-year profit guidance was raised, with continued investment in segmentation, premiumization, and marketing initiatives.
Q1 2026 Q1 2026 2026-05-13
Q1 2026 saw 6.6% revenue growth, 210 bps margin expansion, and strong EPS gains, driven by premiumization, digital upgrades, and a shift toward managed care. Guidance for 2026 is reaffirmed, with ongoing investments in product, digital, and store segmentation expected to offset near-term traffic headwinds.
Q4 2025 Q4 2025 2026-03-04
Delivered strong 2025 results with 9% revenue growth, 56% higher adjusted operating income, and significant margin expansion, driven by a shift to more profitable customer cohorts and premium products. 2026 guidance calls for continued growth, margin improvement, and disciplined capital allocation.
Q3 2025 Q3 2025 2025-11-05
Delivered strong Q3 results with 7.9% revenue growth and 7.7% comp sales increase, driven by higher-value customer segments and premium product adoption. Raised full-year guidance, maintained strong liquidity, and continued strategic investments in marketing, technology, and store expansion.
Q2 2025 Q2 2025 2025-08-06
Q2 saw record results with 7.7% revenue growth, 5.9% comp sales growth, and a 69% increase in adjusted operating income. Brand modernization, CRM upgrades, and premium product expansion are driving performance, leading to a raised full-year outlook despite macro uncertainty.
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Catalyst Timeline.

Every result, order win, insider trade, ECS update, earnings-call, and SEC announcement for this company — in one chronological lane.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Full Report.

Read the complete Finmagine™ investment research report — comprehensive fundamental analysis, business model assessment, competitive positioning, and investment recommendation.

Upgrade to PremiumCreate Free Account

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯
Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.
📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.