National Vision Holdings, Inc. (EYE) Income Statement
EYE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsEYE revenue and net income
Where EYE's revenue goes
2025Each bar shows an amount and its share of revenue. EYE kept 1.5% of revenue as net income.
EYE profit margins
EYE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +9.0% | +6.5% | +3.0% | +6.5% |
| Gross profit | +1.7% | +3.3% | +3.1% | +6.5% |
| Operating income | — | +5.1% | −6.8% | +3.2% |
| Net income | — | −11.1% | −4.0% | +23.4% |
| EPS (diluted) | +39.6% | +6.7% | −3.0% | +28.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
EYE quarterly EPS vs estimates
National Vision beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.06).
EYE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.99B | $1.82B | $2.13B | $1.64B | $2.08B | $1.71B | $1.72B | $1.54B | $1.38B | $1.20B |
| Cost of revenue | $910.6M | $764.1M | $1.00B | $667.7M | $904.8M | $786.6M | $806.5M | $713.6M | $637.0M | $544.8M |
| Gross profit | $1.08B | $1.06B | $1.13B | $977.0M | $1.17B | $925.1M | $917.8M | $823.3M | $738.3M | $651.4M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | — |
| Sales, general & admin | $1.02B | $938.5M | $991.9M | $915.4M | $900.8M | $720.6M | $744.5M | $687.5M | $597.9M | $524.2M |
| Total operating expenses | $1.02B | $1.07B | $1.17B | $924.2M | $999.8M | $838.1M | $844.2M | $763.3M | $660.0M | $577.9M |
| Operating income | $61.3M | −$10.4M | −$46.8M | $52.8M | $174.9M | $87.0M | $73.6M | $42.4M | $67.2M | $66.4M |
| Interest income | — | — | — | — | — | — | — | — | — | $39.1M |
| Interest expense | $16.9M | $16.2M | $14.3M | $462,000 | $25.6M | $48.3M | $33.3M | $37.5M | $60.1M | $39.1M |
| Income before taxes | $41.7M | −$25.7M | −$61.8M | $52.3M | $149.3M | $38.7M | $30.5M | $4.9M | $7.2M | $27.3M |
| Income taxes | $12.1M | $1.5M | $4.1M | $15.5M | $21.1M | $2.4M | −$2.3M | −$18.8M | −$38.6M | $12.5M |
| Net income | $29.6M | −$28.5M | −$65.9M | $42.1M | $128.2M | $36.3M | $32.8M | $23.7M | $45.8M | $14.8M |
| EBITDA | $158.5M | $89.6M | $56.3M | $152.7M | $276.7M | $178.6M | $151.0M | $116.5M | $121.7M | $118.4M |
| EPS (diluted) | $0.74 | $0.53 | $0.61 | $0.61 | $1.47 | $0.86 | $0.82 | $0.69 | $0.17 | $0.20 |
| Gross margin | 54.2% | 58.1% | 52.9% | 59.4% | 56.5% | 54.0% | 53.2% | 53.6% | 53.7% | 54.5% |
| Operating margin | 3.1% | −0.6% | −2.2% | 3.2% | 8.4% | 5.1% | 4.3% | 2.8% | 4.9% | 5.5% |
| Net margin | 1.5% | −1.6% | −3.1% | 2.6% | 6.2% | 2.1% | 1.9% | 1.5% | 3.3% | 1.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $498.8M | $543.9M | $503.4M | $487.3M | $486.4M | $510.3M | $437.3M | $451.5M | $451.7M | $482.8M | $506.4M | $438.8M |
| Cost of revenue | $208.4M | $242.6M | $234.2M | $225.4M | $222.9M | $228.2M | $185.0M | $189.9M | $193.6M | $195.5M | $247.0M | $183.8M |
| Gross profit | $290.4M | $301.3M | $269.2M | $261.9M | $263.5M | $282.2M | $252.3M | $261.6M | $258.2M | $287.2M | $259.4M | $255.0M |
| Sales, general & admin | $243.4M | $256.1M | $261.2M | $252.3M | $247.2M | $255.5M | $2.4M | $234.0M | $231.4M | $244.8M | $249.2M | $249.7M |
| Total operating expenses | $269.1M | $256.1M | $261.5M | $252.3M | $247.5M | $255.9M | $277.8M | $270.4M | $257.6M | $263.8M | $272.7M | $251.4M |
| Operating income | $21.3M | $45.2M | $7.8M | $9.6M | $16.0M | $26.2M | −$25.6M | −$8.8M | $591,000 | $23.4M | −$13.3M | $3.5M |
| Interest expense | $3.3M | $2.8M | $4.2M | $4.1M | $4.2M | $4.6M | $4.6M | $4.1M | $3.2M | $4.3M | $4.3M | $3.7M |
| Income before taxes | $18.0M | $42.4M | $2.4M | $5.5M | $12.2M | $21.6M | −$30.2M | −$12.1M | −$2.6M | $19.2M | −$17.8M | −$175,000 |
| Income taxes | $5.5M | $11.2M | −$929,000 | $2.1M | $3.5M | $7.4M | −$758,000 | −$3.6M | −$1.6M | $7.4M | −$1.8M | $191,000 |
| Net income | $12.4M | $31.2M | $3.3M | $3.4M | $8.7M | $14.2M | −$28.6M | −$8.5M | −$3.1M | $11.7M | −$16.0M | −$73.8M |
| EBITDA | $44.5M | $68.7M | $30.1M | $31.8M | $39.0M | $49.1M | $3.6M | $14.7M | $22.5M | $48.8M | −$68.7M | $28.0M |
| EPS (diluted) | $0.17 | $0.45 | $0.15 | $0.07 | $0.18 | $0.34 | −$0.04 | $0.12 | $0.15 | $0.30 | −$0.02 | $0.15 |
| Gross margin | 58.2% | 55.4% | 53.5% | 53.8% | 54.2% | 55.3% | 57.7% | 57.9% | 57.1% | 59.5% | 51.2% | 58.1% |
| Operating margin | 4.3% | 8.3% | 1.5% | 2.0% | 3.3% | 5.1% | −5.8% | −2.0% | 0.1% | 4.9% | −2.6% | 0.8% |
| Net margin | 2.5% | 5.7% | 0.7% | 0.7% | 1.8% | 2.8% | −6.5% | −1.9% | −0.7% | 2.4% | −3.2% | −16.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in EYE's financial statements (latest annual report filed March 4, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
EYE financial results
In fiscal year 2025 (ended December 31, 2025), National Vision reported revenue of $2.0 billion, up 9.0% from the year before. It had net income of $29.6 million, a net profit margin of 1.5%. Diluted earnings per share came to $0.74. Over five years revenue grew at an average rate of 3.0% a year.
See the EYE stock overview for the latest quote and news, or the EYE chart for price history and technical indicators.
EYE income statement FAQ
What is National Vision's annual revenue?
National Vision reported total revenue of $2.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 9.0% from $1.8 billion the previous year.
Is National Vision profitable?
Yes. National Vision reported net income of $29.6 million in fiscal 2025, a net profit margin of 1.5%; its operating margin was 3.1%.
What is National Vision's gross margin?
National Vision's gross margin was 54.2% in fiscal 2025: for every $100 of revenue, National Vision kept $54 after the direct cost of its products and services.
How fast is National Vision growing?
Revenue grew 3.0% a year on average over the last five fiscal years, from $1.7 billion to $2.0 billion.
What are National Vision's earnings per share?
National Vision earned $0.74 per diluted share in fiscal 2025, compared with $0.53 a year earlier.
When will National Vision report its next earnings?
National Vision is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 before the market opens.
When does National Vision's fiscal year end?
National Vision's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 4, 2026.