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EYE Financials National Vision Holdings, Inc.

11 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has grown 3.0% per year over the past 5 years.
  • Net income has grown slower than revenue (-4.0% vs 3.0% per year).
  • Operating margin has contracted, at 3.0% in the latest year.
  • Free cash flow has declined 14.2% per year over the past 5 years.

Financial health

  • Total debt ($236M) exceeds cash ($39M); net debt is $198M.
  • Total debt has grown slower than revenue (-17.7% vs 3.0% per year).
  • Total debt is 1.6× EBITDA.
Revenue & net income
-$66M $1B $2B $0 2016 2017 2019 2022 2023 2026
RevenueNet income
Margins (gross / operating / net)
-4% 25% 54% 0% 2016 2017 2019 2022 2023 2026
GrossOperatingNet
Return on equity & assets (ROE / ROA)
-8% 3% 14% 0% 2016 2017 2019 2022 2023 2026
ROEROA
Free cash flow (CFO − capex)
-$3M $80M $163M $0 2016 2017 2019 2022 2023 2026
Free cash flow
Cash vs total debt
$0 $312M $625M 2016 2017 2019 2022 2023 2026
CashTotal debt
Cash flow: operating / investing / financing
-$234M $12M $259M $0 2016 2017 2019 2022 2023 2026
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MROEROAFCFTotal debtCash
2026 $2.0B $30M 0.0% 3.0% 3.4% 1.5% $73M $236M $39M
2024 $1.8B -$28M 0.0% -0.6% -3.5% -1.4% $38M $337M $74M
2023 $1.8B -$66M 0.0% 1.4% -7.9% -3.0% $58M $445M $150M
2022 $1.6B $42M 0.0% 3.2% 4.7% 1.8% $6M $546M $229M
2022 $2.1B $128M 0.0% 8.4% 13.8% 5.6% $163M $544M $306M
2021 $1.7B $36M 0.0% 5.1% 4.0% 1.6% $158M $625M $374M
2019 $1.7B $33M 0.0% 4.3% 4.2% 1.6% $64M $536M $39M
2018 $1.5B $24M 53.6% 2.8% 3.2% 1.4% $2M — $17M
2017 $1.4B $43M 53.7% 4.7% 6.6% 2.7% -$3M — $4M
2016 $1.2B $13M 54.5% 5.4% 3.3% 0.9% $8M — $5M
2016 — $4M — — 0.9% — $6M — $6M

Valuation over time

How the market has priced EYE against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 36.0 72.0 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/E
Price / sales (P/S)
0.0 0.6 1.3 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/S

Frequently asked questions

Is EYE growing its revenue and profit?

Over the past 5 years, National Vision Holdings, Inc.'s revenue has grown 3.0% per year, and net income declined 4.0% per year.

How much debt does EYE have?

As of FY2026, National Vision Holdings, Inc. reported $236M of total debt against $39M of cash.

What is EYE's profit margin?

In FY2026, gross margin was —, operating margin 3.0%, and net margin 1.5%.

What is EYE's P/E ratio?

National Vision Holdings, Inc.'s P/E (TTM) is 28.11 as of the 2026-11-05 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the EYE stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 47.8× as of Nov '26) can differ.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing.