EYE

Consumer Cyclical

National Vision Holdings, Inc. · Specialty Retail · $1B

UQS Score — Balanced Preset
41.1
Below Average

National Vision Holdings, Inc. scores 41.1/100 using the Balanced preset.

UQS vs Consumer Cyclical Sector
EYE
41.1
Sector avg
37.7
Quality
Neutral
Moat
Weak
Growth
Neutral
Risk
Weak
Valuation
Good

What is National Vision Holdings, Inc.?

National Vision Holdings operates one of the largest optical retail chains in the United States, serving value-conscious consumers across hundreds of store locations under several well-known brand names. The company combines retail eyewear sales with in-store eye exam services.

The company generates revenue by selling eyeglasses, contact lenses, and optical accessories through its branded store network, which includes America's Best, Eyeglass World, Vista Optical, and Vision Center locations. It also provides eye exam services through licensed optometrists operating within or alongside its stores. National Vision operates across two segments — Owned & Host and Legacy — and supplements its physical footprint with e-commerce websites targeting budget-oriented eyewear shoppers.

National Vision Holdings is headquartered in Duluth, Georgia, and has operated optical retail locations since 1990.

  • Prescription eyeglasses and frames across value price points
  • Contact lenses and optical accessories
  • In-store eye exams via licensed optometrists
  • America's Best and Eyeglass World branded retail stores
  • E-commerce eyewear purchasing options

Is EYE a Good Stock to Buy?

UQS Score rates EYE as Below Average overall, reflecting meaningful challenges across several key quality dimensions.

Among the five pillars, Growth and Valuation both register as Neutral, suggesting the company is not in freefall on revenue trajectory and is not dramatically mispriced relative to its fundamentals. These two pillars provide a modest stabilizing element within an otherwise cautious profile.

Quality, Moat, and Risk all carry Weak ratings — indicating thin competitive differentiation, below-average business quality, and elevated financial or operational risk relative to peers in the Consumer Cyclical sector.

Pro members can view the complete pillar breakdown and underlying financial metrics to understand exactly where National Vision stands against sector benchmarks. Sign up free →

Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.

Does EYE pay dividends?

No — National Vision Holdings, Inc. does not currently pay a dividend.

National Vision does not currently pay a dividend. For a value-oriented optical retailer operating in a competitive, low-margin environment, retaining capital for store operations, technology, and potential debt management tends to take priority over shareholder distributions. Income-focused investors should factor this into their assessment.

When does EYE report earnings?

National Vision reports earnings on a quarterly cadence, consistent with standard practice for US-listed equities.

The company's recent results have reflected the pressures visible in its UQS pillar profile — particularly around quality and risk — with ongoing challenges in profitability and competitive positioning within the value optical segment. Trends in consumer spending on discretionary health-adjacent products remain a key variable.

For the most recent quarter's results and guidance, visit National Vision Holdings' investor relations page directly.

EYE Price History

-49.4% over 5Y

Monthly close, adjusted for stock splits and dividend reinvestment.

Return Calculator

What if I invested in National Vision Holdings, Inc.?

$
Today it would be worth
$5,310
That's a -46.9% total return, or -11.9% annualized.

Based on National Vision Holdings, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.

EYE Long-term Outlook

Given Neutral Growth and Neutral Valuation ratings alongside Weak Quality, Moat, and Risk scores, the fundamental outlook for EYE is cautious. The company operates in a segment where price competition is intense and switching costs for consumers are low, which constrains margin recovery. Any meaningful improvement in the UQS profile would likely require demonstrated progress on profitability and competitive differentiation.

Growth drivers

  • Expansion of the value optical retail footprint in underserved markets
  • Growth in demand for affordable vision care among cost-conscious consumers
  • E-commerce channel development supplementing physical store traffic

Key risks

  • Weak moat leaves the business exposed to pricing pressure from larger and better-capitalized optical chains
  • Elevated risk profile suggests potential vulnerability to cost increases or consumer spending pullbacks
  • Limited pricing power in the value segment constrains margin improvement

EYE vs Peers

National Vision operates in the Consumer Cyclical space alongside a range of value-oriented and specialty retailers, each with distinct business models.

RVLVEYE scores lower
Revolve Group, Inc.

Revolve targets a premium fashion-forward demographic through a digital-first model, contrasting sharply with National Vision's value-oriented, brick-and-mortar optical focus.

REREEYE scores lower
ATRenew Inc.

ATRenew operates a consumer electronics recommerce platform in China, representing a very different value-retail model compared to National Vision's US optical store network.

LNF.TOEYE scores lower
Leon's Furniture Limited

Leon's is a Canadian furniture and appliance retailer serving value-conscious households, sharing a budget-retail orientation with National Vision but operating in an entirely different product category.

Frequently Asked Questions

What does National Vision Holdings do?

National Vision Holdings operates a large network of optical retail stores across the United States under brands including America's Best, Eyeglass World, and Vista Optical. The company sells eyeglasses, contact lenses, and accessories, and provides eye exam services through in-store optometrists. It also sells through e-commerce channels.

Does EYE pay dividends?

No, National Vision Holdings does not currently pay a dividend. The company retains capital for operational needs rather than distributing it to shareholders. Investors seeking regular income should note this absence when evaluating EYE as part of a portfolio.

When does EYE report earnings?

National Vision reports financial results on a quarterly basis, in line with standard US-listed company practice. For exact dates and upcoming reporting schedules, check the investor relations section of the National Vision Holdings website.

Is EYE a good stock to buy?

UQS Score rates EYE as Below Average, driven by Weak ratings across Quality, Moat, and Risk pillars. Growth and Valuation are Neutral, offering some balance, but the overall profile signals meaningful fundamental challenges. Pro members can access the full pillar breakdown for a deeper view.

Is EYE overvalued?

EYE carries a Neutral Valuation rating in the UQS framework, suggesting the stock is not dramatically overpriced or underpriced relative to its fundamentals at the time of scoring. However, valuation alone does not determine quality — the Weak pillar ratings elsewhere are important context.

How does EYE compare to its competitors?

National Vision's Below Average UQS Score reflects a weaker fundamental profile relative to many Consumer Cyclical peers. Its value optical retail model faces intense competition and thin margins. The full competitor comparison, including UQS scores for peers, is available to Pro members on the platform.

What is EYE's market cap bracket?

National Vision Holdings is classified as a mid-cap company. This places it in a tier that typically offers more liquidity than small-cap names but less financial resilience than large-cap peers, which is relevant context given the company's Weak Risk pillar rating.

Who founded National Vision Holdings?

National Vision has operated optical retail locations since 1990. The company's founding history and leadership background are publicly available through its investor relations materials and corporate filings for those seeking detailed historical context.

Is EYE a long-term quality investment?

As a long-term quality indicator, EYE's Below Average UQS Score — with Weak ratings in Quality, Moat, and Risk — raises meaningful questions about durability of competitive position and earnings power over time. Long-term investors typically look for stronger moat and quality scores as indicators of compounding potential.

What is the main competitive advantage of National Vision?

National Vision's primary positioning is its value-price model, offering affordable eyeglasses and eye exams to budget-conscious consumers. However, the UQS Moat pillar rates this advantage as Weak, reflecting that low prices alone are difficult to defend against larger, better-resourced optical and retail competitors.

What sector does EYE belong to?

EYE is classified under the Consumer Cyclical sector. This means its business performance tends to be sensitive to consumer spending trends and economic conditions — a relevant factor given the company's Weak Risk rating and its focus on discretionary health-adjacent purchases.

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Pro Analysis

EYE — Score History

253035404550Apr 2Apr 12Apr 22May 2May 12May 22May 24v5
Score changes· 22 most recent
DateUQSQualityMoatGrowthRiskValueChange
May 22, 202641.142.825.047.423.374.4+7.9
May 8, 202633.23.425.047.841.269.1-2.9
May 7, 202636.131.525.047.820.362.6+0.1
May 3, 202636.031.525.047.820.361.7+0.1
Apr 26, 202635.931.525.047.820.361.4+0.3
Apr 25, 202635.631.525.047.820.359.2+0.2
Apr 23, 202635.431.125.047.820.358.40.0
Apr 21, 202635.431.025.047.820.358.50.0
Apr 19, 202635.431.025.047.820.358.6-0.2
Apr 18, 202635.631.025.047.820.359.8-1.0

EYE — Pillar Breakdown

Quality

42.6/100 (25%)

National Vision Holdings, Inc. has average quality metrics, with room for improvement in margins or capital efficiency.

Capital Efficiency (ROIC)Weak

How effectively capital is deployed to generate returns.

Return on EquityWeak

Profitability relative to shareholders' equity.

Operating ProfitabilityWeak

Ability to convert revenue into operating profit.

Net ProfitabilityWeak

Bottom-line profit as a share of revenue.

Gross Profit / AssetsStrong

Asset productivity — how much gross profit each dollar of assets generates.

Cash GenerationStrong

Free cash flow relative to market value.

Growth

47.4/100 (20%)

National Vision Holdings, Inc. shows steady but unspectacular growth, typical for mature companies.

Recent Revenue TrendWeak

Revenue trajectory over the last twelve months.

3Y Revenue CAGRWeak

Compound annual revenue growth rate over 3 years.

EPS GrowthStrong

Year-over-year earnings per share growth.

Forward Revenue OutlookWeak

Analyst consensus for future revenue growth.

Forward EPS GrowthStrong

Analyst consensus for future earnings growth.

Risk

23.3/100 (15%)

National Vision Holdings, Inc. presents elevated risk with concerns around leverage or financial stability.

Financial LeverageWeak

Debt levels relative to earnings capacity.

Debt/EquityStrong

Total debt relative to shareholder equity.

Current RatioWeak

Short-term liquidity — ability to pay near-term obligations.

Interest CoverageWeak

Earnings capacity relative to interest payments.

Valuation

74.5/100 (15%)

National Vision Holdings, Inc. trades at a reasonable valuation with decent earnings yield and FCF multiples.

Earnings YieldModerate

Inverse of forward P/E — higher yield means cheaper stock.

Price to Free Cash FlowStrong

How many years of FCF the market cap represents.

PEG RatioStrong

P/E relative to earnings growth — lower is more attractive.

EV/EBITDA vs SectorModerate

Enterprise value multiple relative to sector median.

Moat

25/100 (25%)

National Vision Holdings, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for EYE.

Score Composition

Quality
42.6×25%10.7
Growth
47.4×20%9.5
Risk
23.3×15%3.5
Valuation
74.5×15%11.2
Moat
25.0×25%6.3
Total
41.1Below Average

Financial Data

More Stock Analysis

How is the EYE UQS Score Calculated?

The UQS (Unified Quality Score) for National Vision Holdings, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.

Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.

Moat (25%) assesses National Vision Holdings, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.

Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.

Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.

Valuation (15%) measures whether National Vision Holdings, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.

Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.