National Vision Valuation Multiples

National Vision Overview

About National Vision

National Vision Holdings Inc is an optical retailer in the U.S. Its product portfolio includes eyeglasses and sunglasses, contact lenses, accessories, and other products. The company has two operating segments; Owned and Host segment includes company-owned brands America’s Best and Eyeglass World, In America’s Best stores, vision care services are provided by optometrists or by independent professional corporations and Host operating consist of Military and Fred Meyer which provide eye exams by independent optometrists, and the Legacy segment manages the operations of, and supplies inventory and lab processing services to Legacy retail Vision Centers. It earns a majority of its revenue from the Owned and Host segment.

Founded

2014

HQ

Employees

13.4K

Website

nationalvision.com

Sectors

Specialty Stores

Financials (LTM)

Revenue: $2B

EBITDA: $200M

EV

$3B

Valuation Multiples

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National Vision Financials

National Vision reported last 12-month revenue of $2B and EBITDA of $200M.

In the same LTM period, National Vision generated $1B in gross profit, $200M in EBITDA, and $70M in net income.

National Vision P&L

In the most recent fiscal year, National Vision reported revenue of $2B and EBITDA of $218M.

National Vision expects next 12-month revenue of XXX and NTM EBITDA of XXX

National Vision Stock Performance

National Vision has current market cap of $2B, and enterprise value of $3B.

National Vision's stock price is $24.08.

National Vision Valuation Multiples

National Vision trades at 1.3x EV/Revenue multiple, and 12.8x EV/EBITDA.

National Vision Financial Valuation Multiples

As of April 30, 2026, National Vision has market cap of $2B and EV of $3B.

Equity research analysts estimate National Vision's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

National Vision has a P/E ratio of 27.5x.

National Vision Margins & Growth Rates

National Vision's revenue in the last 12 month grew by 5%.

National Vision's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

National Vision's rule of 40 is 8% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

National Vision's rule of X is 8% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

National Vision Public Comps

See public comps and valuation multiples for other Specialty Stores comps.

National Vision M&A Activity

National Vision acquired XXX companies to date.

Last acquisition by National Vision was on XXXXXXXX, XXXXX. National Vision acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

National Vision Investment Activity

National Vision invested in XXX companies to date.

National Vision made its latest investment on XXXXXXXX, XXXXX. National Vision invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).