National Vision Holdings, Inc.
Business
National Vision Holdings, Inc. operates one of the largest optical retail chains in the United States, serving customers through 1,250 stores across four brands: America's Best Contacts and Eyeglasses, Eyeglass World, and Vista Optical locations in Fred Meyer stores and on military bases. The company provides eye exams, eyeglasses, contact lenses, and eyewear accessories, leveraging a centralized laboratory network and distribution system to minimize costs. National Vision targets value-conscious consumers across multiple income levels and is expanding into managed care, premium products, and telehealth-enabled exam services available in over 800 locations.
Summary from 10-K filed 2026-03-04
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total net revenue | 1,987 | 1,823 | 1,756 | 1,645 | 2,080 | |
| Total costs applicable to revenue | 819 | 764 | 735 | 668 | 905 | |
| Selling, general and administrative expenses | 1,016 | 939 | 905 | 833 | 901 | |
| Depreciation and amortization | 91 | 91 | 90 | 89 | 97 | |
| Asset impairment | 2 | 40 | 3 | 6 | 4 | |
| Other expense (income), net | −204,000 | −101,000 | −104,000 | −3 | −3 | |
| Total operating expenses | 1,109 | 1,070 | 997 | 924 | 1,000 | |
| Income (loss) from operations | 59 | −10 | 24 | 53 | 175 | |
| Interest expense, net | 17 | 16 | 14 | 462,000 | — | |
| (Gain) loss on extinguishment of debt | 0 | −859,000 | 599,000 | 0 | 0 | |
| Earnings (loss) from continuing operations before income taxes | 42 | −26 | 10 | 52 | 149 | |
| Income tax provision | 12 | 1 | 6 | 16 | 21 | |
| Income (loss) from continuing operations | 30 | −27 | 4 | 37 | — | |
| Income (loss) from discontinued operations, net of tax (See Note 2) | 0 | −1 | −69 | 5 | — | |
| Net income (loss) | 30 | −28 | −66 | 42 | 128 | |
| Continuing operations (in usd per share) | 0.37 | −0.35 | 0.05 | 0.46 | — | |
| Discontinued operations (in usd per share) | 0 | −0.02 | −0.89 | 0.07 | — | |
| Total (in usd per share) | 0.37 | −0.36 | −0.84 | 0.53 | 1.57 | |
| Continuing operations (in usd per share) | 0.37 | −0.35 | 0.05 | 0.46 | — | |
| Discontinued operations (in usd per share) | 0 | −0.02 | −0.88 | 0.07 | — | |
| Total (in usd per share) | 0.37 | −0.36 | −0.84 | 0.52 | 1.43 | |
| Basic (in shares) | 79 | 79 | 78 | 80 | 82 | |
| Diluted (in shares) | 81 | 79 | 79 | 80 | 96 | |
| Unrealized gain (loss) on hedge instruments | −161,000 | 548,000 | 1 | 1 | 6 | |
| Tax provision of unrealized gain (loss) on hedge instruments | −40,000 | 129,000 | 259,000 | 259,000 | 4 | |
| Comprehensive income (loss) | 29 | −28 | −65 | 43 | 131 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 39 | 74 | 150 | 229 | 306 | |
| Accounts receivable, net | 57 | 50 | 87 | 80 | 56 | |
| Inventories | 89 | 94 | 120 | 123 | 124 | |
| Prepaid expenses and other current assets | 40 | 32 | 40 | 41 | 29 | |
| Total current assets | 226 | 250 | 397 | 474 | 515 | |
| Property and equipment, net | 345 | 362 | 360 | 360 | 346 | |
| Goodwill | 701 | 698 | 718 | 778 | 778 | |
| Trademarks and trade names | 241 | 241 | 241 | 241 | 241 | |
| Other intangible assets, net | 8 | 8 | 20 | 35 | 42 | |
| Right of use assets | 395 | 409 | 406 | 383 | 355 | |
| Other assets | 70 | 40 | 28 | 22 | 17 | |
| Total noncurrent assets | 1,758 | 1,758 | 1,776 | 1,817 | 1,779 | |
| Total assets | 1,984 | 2,008 | 2,173 | 2,291 | 2,293 | |
| Accounts payable | 79 | 54 | 68 | 65 | 64 | |
| Other payables and accrued expenses | 110 | 109 | 123 | 94 | 119 | |
| Unearned revenue | 52 | 42 | 48 | 41 | 30 | |
| Deferred revenue | 65 | 63 | 63 | 62 | 65 | |
| Current maturities of long-term debt and finance lease obligations | 17 | 101 | 10 | 4 | 4 | |
| Current operating lease obligations | 90 | 100 | 85 | 77 | 61 | |
| Total current liabilities | 412 | 468 | 398 | 344 | 344 | |
| Long-term debt and finance lease obligations, less current portion and debt discount | 229 | 249 | 451 | 563 | 566 | |
| Noncurrent operating lease obligations | 358 | 366 | 377 | 358 | 342 | |
| Deferred revenue | 23 | 22 | 21 | 22 | 23 | |
| Other liabilities | 9 | 8 | 8 | 9 | 9 | |
| Deferred income taxes, net | 83 | 78 | 88 | 94 | 83 | |
| Total noncurrent liabilities | 702 | 723 | 945 | 1,046 | — | |
| Commitments and contingencies | — | — | — | — | — | |
| Common stock, $0.01 par value; 200,000,000 shares authorized; 86,278,538 and 85,444,263 shares issued as of January 3, 2026 and December 28, 2024, respectively; 79,416,050 and 78,775,117 shares outstanding as of January 3, 2026 and December 28, 2024, respectively | 862,000 | 854,000 | 848,000 | 842,000 | 838,000 | |
| Additional paid-in capital | 834 | 807 | 789 | 767 | 750 | |
| Accumulated other comprehensive loss | −121,000 | 0 | −419,000 | −1 | −2 | |
| Retained earnings | 256 | 226 | 255 | 321 | 278 | |
| Treasury stock, at cost; 6,862,488 and 6,669,146 shares as of January 3, 2026 and December 28, 2024, respectively | −221 | −218 | −215 | −186 | −102 | |
| Total stockholders equity | 870 | 816 | 829 | 901 | 926 | |
| Total liabilities and stockholders equity | 1,984 | 2,008 | 2,173 | 2,291 | 2,293 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 91 | 93 | 98 | 100 | — | |
| Amortization of debt discount and deferred financing costs | 1 | 2 | 3 | 3 | 4 | |
| Amortization of cloud computing implementation costs | 9 | 6 | 3 | 6 | 5 | |
| Asset impairment | 2 | 40 | 82 | 6 | — | |
| Deferred income tax expense (benefit) | 5 | −10 | −6 | 11 | 17 | |
| Stock-based compensation expense | 24 | 17 | 20 | 14 | 15 | |
| (Gains) on change in fair value of derivatives | 0 | −34,000 | −1 | −16 | −3 | |
| Inventory adjustments | 5 | 4 | 4 | 2 | 2 | |
| Other | −56,000 | −1 | 4 | 2 | 94,000 | |
| Accounts receivable | −8 | 36 | −8 | −25 | 1 | |
| Inventories | −728,000 | 22 | −457,000 | −2 | −15 | |
| Operating lease right of use assets and liabilities | −2 | −2 | 524,000 | 859,000 | −41,000 | |
| Other assets | −46 | −7 | −3 | −10 | −11 | |
| Accounts payable | 25 | −14 | 2 | 945,000 | −530,000 | |
| Deferred and unearned revenue | 13 | −6 | 7 | 7 | 6 | |
| Other liabilities | −2 | −18 | 32 | −22 | 9 | |
| Net cash provided by operating activities | 146 | 134 | 173 | 119 | 259 | |
| Purchase of property and equipment | −73 | −96 | −115 | −114 | −96 | |
| Other | −4 | −589,000 | −1 | 3 | 3 | |
| Net cash used for investing activities | −77 | −96 | −116 | −111 | −93 | |
| Repayments on long-term debt | −126 | −222 | −103 | −4,000 | −167 | |
| Borrowings on long-term debt | 25 | 115 | 0 | 0 | 0 | |
| Payments of debt issuance costs | 0 | −2 | −3 | 0 | −900,000 | |
| Payments on finance lease obligations | −3 | −3 | −4 | −4 | −5 | |
| Proceeds from issuance of common stock | 3 | 2 | 2 | 4 | 12 | |
| Purchase of treasury stock | −3 | −3 | −28 | −84 | −73 | |
| Net cash used for financing activities | −105 | −113 | −137 | −85 | −234 | |
| Net change in cash, cash equivalents and restricted cash | −35 | −76 | −80 | −76 | −68 | |
| Cash paid for interest | 19 | 13 | 12 | 17 | 25 | |
| Capital expenditures accrued at the end of the period | 12 | 9 | 5 | 10 | 11 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is National Vision Holdings, Inc.'s CIK number?
National Vision Holdings, Inc.'s SEC CIK number is 0001710155 (1710155). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find National Vision Holdings, Inc.'s SEC filings?
All of National Vision Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did National Vision Holdings, Inc. last report earnings?
National Vision Holdings, Inc. (EYE) most recently filed an earnings 8-K with the SEC on May 13, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-034360). This is National Vision Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is National Vision Holdings, Inc.'s most recent earnings 8-K?
National Vision Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed May 13, 2026 under accession 0001628280-26-034360. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View National Vision Holdings, Inc.'s latest earnings 8-K →
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