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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.0B | $159M | $30M | $73M | 3.4% | 9.0% | -203.9% |
| 2024 | $1.8B | $90M | $-28M | $38M | -3.5% | 3.8% | -56.8% |
| 2023 | $1.8B | $125M | $-66M | $58M | -7.9% | 6.8% | -256.5% |
| 2022 | $1.6B | $159M | $42M | $6M | 4.7% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,644.68 | 1,756.37 | 1,823.32 | 1,987.49 |
| Cost Of Revenue | - | 667.66 | 734.66 | 764.06 | 819.47 |
| Gross Profit | - | 977.01 | 1,021.72 | 1,059.26 | 1,168.02 |
| Operating Expense | - | 918.74 | 994.53 | 1,029.77 | 1,107.20 |
| Operating Income | - | 58.26 | 27.19 | 29.49 | 60.82 |
| EBITDA | - | 158.73 | 125.31 | 89.58 | 158.72 |
| EBIT | - | 52.77 | 23.89 | -9.50 | 58.83 |
| Pretax Income | - | 52.30 | 9.55 | -25.68 | 41.68 |
| Tax Provision | - | 15.54 | 6.01 | 1.48 | 12.08 |
| Net Income | - | 42.12 | -65.90 | -28.50 | 29.60 |
| Net Income Common Stockholders | - | 42.12 | -65.90 | -28.50 | 29.60 |
| Total Expenses | - | 1,586.41 | 1,729.18 | 1,793.83 | 1,926.67 |
| Interest Expense | - | 0.46 | 14.34 | 16.18 | 17.15 |
| Selling General And Administration | - | 832.61 | 904.76 | 938.52 | 1,016.25 |
| Normalized EBITDA | - | 164.23 | 128.61 | 128.57 | 160.71 |
| Normalized Income | - | 40.62 | 6.15 | 3.64 | 31.01 |
| Market Cap | 1,891.40 | 1,891.40 | 1,891.40 | 1,891.40 | 1,891.40 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| National Vision Holdings, Inc.this co. | EYE | $1.9B | 63.90β premium | 2.18 | 3.4% | 16.05 |
| Capri Holdings Limited | CPRI | $2.3B | - | 21.91 | -317.7% | 18.31 |
| Driven Brands Holdings Inc. | DRVN | $2.1B | - | 2.64 | -48.2% | 12.08 |
| The Goodyear Tire & Rubber Company | GT | $2.0B | - | 0.62 | -50.6% | 6.94 |
| Revolve Group, Inc. | RVLV |
| - |
| - |
| - |
| - |
| - |
| - |
| $1.8B |
| 29.99 |
| 3.07 |
| 12.0% |
| 19.01 |
| United Parks & Resorts Inc. | PRKS | $1.8B | 9.76 | -3.77 | -38.6% | 7.27 |
| Kohl's Corporation | KSS | $1.6B | 6.06 | 0.41 | 6.7% | 5.74 |
| Interface, Inc. | TILE | $1.6B | 14.14 | 2.56 | 18.1% | 9.32 |
| Leggett & Platt, Incorporated | LEG | $1.6B | 6.57 | 1.51 | 23.0% | 5.39 |
| Peer Median | - | 9.76 | 2.04 | -16.0% | 8.29 | |