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
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
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
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jul '26
$499M
$12M
0.0%
4.3%
1.4%
0.6%
-$14M
$230M
$36M
Apr '26
$544M
$31M
0.0%
8.3%
3.5%
1.5%
$44M
$233M
$68M
Jan '26
$503M
$3M
0.0%
1.3%
0.4%
0.2%
-$11M
$236M
$39M
Sep '25
$487M
$3M
0.0%
2.0%
0.4%
0.2%
$30M
$243M
$56M
Jun '25
$486M
$9M
0.0%
3.4%
1.0%
0.4%
$42M
$261M
$48M
Mar '25
$510M
$14M
0.0%
5.1%
1.7%
0.7%
$12M
$334M
$80M
Dec '24
$437M
-$29M
0.0%
-5.8%
-3.5%
-1.4%
-$2M
$337M
$74M
Sep '24
$452M
-$8M
0.0%
-2.0%
-1.0%
-0.4%
$4M
$340M
$81M
Jun '24
$452M
-$3M
0.0%
0.1%
-0.4%
-0.1%
$32M
$442M
$180M
Mar '24
$483M
$12M
0.0%
4.9%
1.4%
0.5%
$4M
$444M
$150M
Dec '23
$421M
-$16M
0.0%
-2.9%
-1.9%
-0.7%
-$13M
$445M
$150M
Sep '23
$439M
-$74M
0.0%
0.8%
-8.8%
-3.3%
$13M
$546M
$266M
Jul '23
$432M
$6M
0.0%
1.3%
0.6%
0.2%
$12M
$547M
$255M
Apr '23
$521M
$18M
0.0%
5.6%
2.0%
0.8%
$46M
$547M
$247M
Dec '22
$469M
-$9M
0.0%
-2.1%
-1.0%
-0.4%
-$30M
$546M
$229M
Oct '22
$499M
$12M
0.0%
3.1%
1.3%
0.5%
$3M
$546M
$256M
Jul '22
$510M
$10M
0.0%
3.6%
1.1%
0.4%
$13M
$545M
$254M
Apr '22
$528M
$30M
0.0%
7.1%
3.2%
1.3%
$19M
$544M
$315M
Jan '22
$478M
$6M
0.0%
1.7%
0.7%
0.3%
-$11M
$544M
$306M
Oct '21
$518M
$41M
0.0%
9.8%
4.1%
1.7%
$24M
$593M
$439M
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.
The price-to-earnings ratio has risen from 35.3× (Mar '23) to 47.8× (Nov '26).
The price-to-sales ratio has fallen from 0.9× (Mar '23) to 0.7× (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
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.