National Vision Holdings (EYE) Stock Analysis & Winston Score

National Vision Holdings, Inc., through its subsidiaries, operates as an optical retailer in the United States. The company operates in two segments, Owned & Host and Legacy. It offers eyeglasses and contact lenses, and optical accessory products; provides eye exams through its America's Best, Eyeglass World, Vista Optical, Fred Meyer, and Vista Optical military, as well as Vision Center branded stores; and offers health maintenance organization and optometric services. As of January 1, 2022, th

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

YoY Growth Rate

Revenue data limited

EPS Growth

YoY Growth Rate

EPS data limited

Insider Activity

2.5%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~10 months

$39M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

National Vision Holdings has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

53.5%

Healthy — 53.5% gross margin

Operating Margin

1.5%

Thin — 1.5% operating margin

ROCE

0.6%

Weak — 0.6% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+9.2%

Steady sales growth (9.2% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

377%

Turns 377% of profit into real cash

FCF Margin

5.2%

Thin free cash flow (5.2%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.38

Conservative — low debt load (0.38)

Interest Cover

5.10x

Adequate interest coverage (5.1x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

33.0x

no trend

Pricey — P/E 33.0

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+16.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (33.0 → 16.7)

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Dividends

Not applicable for this business.

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