Credit and interest ratesnegative · 5 filings
“The change was primarily a result of lower interest expense of $2.4 million resulting from lower outstanding debt balance.”10-Q · Aug 13, 2026 ↗
National Vision Holdings, Inc.
EYE
Market read
National Vision Holdings, Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
What changed
- Revenue increased 6.6% versus the comparable filing period.
Company+0.8% todayVolume comparison unavailable
Market group0 of 1 activeOptical Retail · unavailable
Disclosed network0 of 1 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Lower outstanding debt reduced interest expense during the latest six-month period.
- Pricing and product-mix initiatives increased net product sales, while the shift toward higher-value offerings reduced eyeglass margin.
Invalidation: The isolated read changes if EYE's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
Evidence that supports
- Revenue increased 6.6% versus the comparable filing period.
- Operating margin improved 3.2 percentage points.
- Net income increased 119.8% versus the comparable filing period.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- Lower outstanding debt reduced interest expense during the latest six-month period.
- Pricing and product-mix initiatives increased net product sales, while the shift toward higher-value offerings reduced eyeglass margin.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements133
Verified relationships1
Evidence supporting the case
- Latest annual revenue changed +9.0% year over year.
- Operating margin changed +3.5 percentage points in the latest annual period.
- Net margin changed +3.1 percentage points in the latest annual period.
- Operating cash flow covered net income at 4.94x in the latest annual period.
Evidence challenging the case
- Diluted shares increased 2.5% in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 5 filings.
- Restructuring and cost reductions has repeated adverse evidence across 3 filings.
Questions before a position
- P/E is 161% above the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 89% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 11, 2026
17.296m-33.3%12m-23.6%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-01-01$2.1B+21.5%$1.43+16.1%
2022-12-31$1.6B-20.9%$0.52-16.5%
2023-12-30$1.8B+6.8%$-0.84-2.1%
2024-12-28$1.8B+3.8%$-0.36-0.0%
2026-01-03$2.0B+9.0%$0.37+2.5%
What management says matters
Persistent and emerging business drivers
Tariffs and trade policypositive · 5 filings
“In Mexico, where our exposure relates to our outsourcing relationship with our third-party laboratory, we have mitigation plans in place, and we estimate that less than 1% of our costs applicable to revenue are subject to tariffs in Mexico.”10-Q · Aug 13, 2026 ↗
Restructuring and cost reductionsnegative · 3 filings
“This was partially offset by changes in net working capital and other assets and liabilities of $30.8 million and a decrease in non-cash adjustments items of $14.7 million primarily driven by a decrease in asset impairment, partially offset by increases in de…”10-K · Mar 4, 2026 ↗
Legal and regulatory exposuremixed · 2 filings
“Additionally, new or additional legal, legislative and regulatory requirements to reduce or mitigate the effects of climate change on the environment could result in increased capital expenditures to improve the energy efficiency of our existing stores and ot…”10-K · Mar 4, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 0.7× · EV/sales 0.8×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
17.29+0.8% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for EYE. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
Fundamentals strengthened in the latest filing
10-Q filed 2026-05-14 against the comparable filing from 2025-05-08.
OperationsconstructiveEvidence score +3
liquidityneutralEvidence score 0
valuationmixed
What improved
- Revenue increased 6.6% versus the comparable filing period.
- Operating margin improved 3.2 percentage points.
- Net income increased 119.8% versus the comparable filing period.
What weakened
No thresholded deterioration was identified.
Filing receipts
“As a percentage of net revenue, costs applicable to revenue increased 10 basis points and were primarily driven by lower eyeglass margin of 60 basis points impacted by product mix, partially offset by successful pricing initiatives, leveraging of optometrist-related costs of 30 basis points and higher exam revenue of 20 basis points.”
“Costs of products as a percentage of net product sales increased 60 basis points, primarily driven by lower eyeglass margin impacted by product mix, partially offset by successful pricing initiatives.”
“25 Table of Contents Three Months Ended (in thousands) April 4, 2026 March 29, 2025 $ Change % Change Total net revenue $ 543,880 $ 510,324 $ 33,556 6.6 % Net product sales $ 439,500 $ 412,765 $ 26,735 6.5 % As a percentage of total net revenue 80.8 % 80.9 % Net sales of services and plans $ 104,380 $ 97,559 $ 6,821 7.0 % As a percentage of total net revenue 19.2 % 19.1 % Net product sales increased $26.7 million, or 6.5%, in the three months ended April 4, 2026 compared to the three months ended March 29, 2025, primarily due to pricing and product mix initiatives in eyeglass sales of $20.4 million and contact lens sales of $7.0 million.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind EYE
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
WMTWalmart Inc.partnerMar 4, 2026 ▾
“While we have implemented mitigation plans and continue to focus on additional mitigation strategies to offset the impact of tariffs, including the termination of our outsourced laboratory relationship with China in early 2024 in connection with the terminati…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
EYE is currently a Leader in the organic co-movement group Optical Retail. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for EYE; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.