National Vision Holdings, Inc.

NasdaqGS:EYE Stock Report

Market Cap: US$918.2m

National Vision Holdings Valuation

Is EYE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of EYE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EYE ($11.66) is trading above our estimate of fair value ($4)

Significantly Below Fair Value: EYE is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EYE?

Key metric: As EYE is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for EYE. This is calculated by dividing EYE's market cap by their current revenue.
What is EYE's PS Ratio?
PS Ratio0.4x
SalesUS$2.18b
Market CapUS$918.22m

Price to Sales Ratio vs Peers

How does EYE's PS Ratio compare to its peers?

The above table shows the PS ratio for EYE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.2x
ODP ODP
0.1x-2.1%US$821.0m
WOOF Petco Health and Wellness Company
0.2x1.4%US$1.1b
HZO MarineMax
0.3x2.7%US$690.5m
SBH Sally Beauty Holdings
0.4x1.3%US$1.3b
EYE National Vision Holdings
0.4x-2.9%US$918.2m

Price-To-Sales vs Peers: EYE is expensive based on its Price-To-Sales Ratio (0.4x) compared to the peer average (0.2x).

Price to Sales Ratio vs Industry

How does EYE's PS Ratio compare vs other companies in the US Specialty Retail Industry?

41 CompaniesPrice / SalesEstimated GrowthMarket Cap
TA TravelCenters of America
0.1x-0.8%US$1.30b
ODP ODP
0.1x-2.1%US$821.02m
ARKO Arko
0.09x-1.7%US$811.56m
AAN Aaron's Company
0.1x2.4%US$306.82m
EYE 0.4xIndustry Avg. 0.5xNo. of Companies41PS00.61.21.82.43+
41 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: EYE is good value based on its Price-To-Sales Ratio (0.4x) compared to the US Specialty Retail industry average (0.5x).

Price to Sales Ratio vs Fair Ratio

What is EYE's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EYE PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.4x
Fair PS Ratio0.4x

Price-To-Sales vs Fair Ratio: EYE is good value based on its Price-To-Sales Ratio (0.4x) compared to the estimated Fair Price-To-Sales Ratio (0.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst EYE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$11.66
US$13.70
+17.5%
16.3%US$18.00US$12.00n/a10
Nov ’25US$11.01
US$13.70
+24.4%
17.0%US$18.00US$11.00n/a10
Oct ’25US$10.69
US$14.90
+39.4%
27.4%US$25.00US$11.00n/a10
Sep ’25US$10.56
US$14.90
+41.1%
27.4%US$25.00US$11.00n/a10
Aug ’25US$13.58
US$19.90
+46.5%
15.8%US$25.00US$16.00n/a10
Jul ’25US$12.67
US$20.60
+62.6%
18.4%US$27.00US$16.00n/a10
Jun ’25US$15.09
US$20.90
+38.5%
19.0%US$27.00US$16.00n/a10
May ’25US$17.70
US$23.80
+34.5%
15.0%US$30.00US$19.00n/a10
Apr ’25US$21.57
US$24.00
+11.3%
15.6%US$30.00US$18.00n/a10
Mar ’25US$23.54
US$23.10
-1.9%
17.3%US$30.00US$18.00n/a10
Feb ’25US$19.94
US$21.20
+6.3%
16.3%US$28.00US$18.00n/a10
Jan ’25US$20.93
US$21.00
+0.3%
16.5%US$28.00US$18.00n/a10
Dec ’24US$19.20
US$20.90
+8.9%
16.8%US$28.00US$18.00n/a10
Nov ’24US$15.60
US$22.00
+41.0%
15.1%US$28.00US$16.00US$11.0110
Oct ’24US$16.18
US$23.65
+46.2%
15.9%US$31.50US$19.00US$10.6910
Sep ’24US$17.92
US$23.86
+33.2%
15.3%US$31.50US$19.00US$10.5611
Aug ’24US$21.64
US$24.23
+12.0%
18.1%US$32.00US$20.00US$13.5811
Jul ’24US$24.29
US$28.27
+16.4%
17.1%US$38.00US$22.00US$12.6711
Jun ’24US$25.70
US$28.27
+10.0%
17.1%US$38.00US$22.00US$15.0911
May ’24US$21.39
US$29.00
+35.6%
24.9%US$45.00US$20.00US$17.7010
Apr ’24US$18.84
US$29.00
+53.9%
24.9%US$45.00US$20.00US$21.5710
Mar ’24US$22.76
US$38.73
+70.2%
22.8%US$50.00US$23.00US$23.5411
Feb ’24US$41.98
US$41.73
-0.6%
15.7%US$50.00US$27.00US$19.9411
Jan ’24US$38.76
US$41.73
+7.7%
15.7%US$50.00US$27.00US$20.9311
Dec ’23US$39.74
US$41.73
+5.0%
15.7%US$50.00US$27.00US$19.2011
Nov ’23US$37.66
US$36.09
-4.2%
14.7%US$41.00US$23.00US$15.6011

Analyst Forecast: Target price is less than 20% higher than the current share price.

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