NASDAQ$EYE
National Vision Holdings Inc. · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
National Vision reported strong Q4 2025 revenue growth and returned to profitability as comparable store sales and operating margins improved.
National Vision delivered strong fourth quarter results with net revenue increasing 15.1% year over year to $503.4 million, supported by comparable store sales growth and new store openings. The company returned to profitability with net income of $3.3 million and improved operating margins, while adjusted operating income rose significantly reflecting strong cost discipline and operating leverage.
- Net revenue increased 15.1% year over year to $503.4 million driven by comparable store sales growth and new stores.
- Comparable store sales grew 6.6%, marking the twelfth consecutive quarter of positive comparable growth.
- Net income improved to $3.3 million compared to a loss in the prior year period.
- Adjusted operating income rose sharply to $17.6 million with margin expanding to 3.5%.
Headline financials
Revenue & EPS history
National Vision · Revenue · Quarterly
$503M
Revenue by segment
National Vision · $532M total across 2 segments · Q3 2023
- Net Product Sales$436M+6.1%81.8%
- Services and Plans$96.8M+9.4%18.2%
Forward guidance
For fiscal 2026, National Vision expects continued revenue growth, improved comparable store sales, and higher adjusted profitability driven by new store openings and operating leverage.
Tailwinds
- Net revenue expected between $2.033 billion and $2.091 billion.
- Adjusted comparable store sales growth expected between 3.0% and 6.0%.
- Adjusted operating income projected between $107 million and $133 million.
- Adjusted diluted EPS expected between $0.85 and $1.09.
- Plans to open approximately 30–35 new stores.
Headwinds
- Macroeconomic conditions could affect consumer spending on optical products.
- Execution risks related to new store openings and expansion.
- Cost pressures including healthcare and labor expenses.
- Potential volatility from international trade policies or tariffs.
- Competitive pressure in the optical retail market.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2025
-0.5%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+1.2%
Avg return
30 days after
54%
21 / 39 earnings
Positive
+16.9%
Q1 2025
Best reaction
-38.8%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.8% | -0.1% | — | |
| Q4 2025 | +9.1% | +0.6% | -11.0% | |
| Q3 2025 | -3.6% | -5.7% | +14.4% | |
| Q1 2025 | +16.9% | +40.7% | +57.8% | |
| Q4 2024 | +11.6% | +10.7% | +12.1% | |
| Q3 2024 | -4.7% | -3.1% | -8.0% | |
| Q2 2024 | -21.6% | -26.1% | -30.7% | |
| Q1 2024 | -15.2% | -16.4% | -19.3% | |
| Q4 2023 | +14.7% | +17.9% | +11.0% | |
| Q3 2023 | +9.4% | +14.1% | +11.5% | |
| Q2 2023 | -5.9% | -8.4% | -19.5% | |
| Q1 2023 | +5.9% | +4.7% | +14.7% | |
| Q4 2022 | -38.8% | -40.1% | -49.6% | |
| Q3 2022 | +12.7% | +12.8% | +5.3% | |
| Q2 2022 | +9.2% | +13.7% | +12.7% | |
| Q1 2022 | -31.5% | -22.3% | -17.8% | |
| Q4 2021 | -4.7% | +0.8% | +16.4% | |
| Q3 2021 | -16.4% | -22.3% | -23.8% | |
| Q2 2021 | -0.8% | +1.0% | +7.8% | |
| Q1 2021 | +6.5% | +6.3% | +2.9% | |
| Q3 2020 | +2.5% | +6.4% | -2.1% | |
| Q2 2020 | -1.8% | +3.8% | +16.1% | |
| Q1 2020 | +10.0% | +2.2% | +32.5% | |
| Q4 2019 | +4.0% | +7.4% | -41.1% | |
| Q3 2019 | +11.8% | +8.8% | +23.8% | |
| Q2 2019 | +8.2% | +7.9% | -4.8% | |
| Q1 2019 | +3.3% | +2.3% | -1.5% | |
| Q4 2018 | -1.4% | -3.1% | -7.7% | |
| Q3 2018 | -1.7% | -7.8% | -27.8% | |
| Q2 2017 | -8.4% | -7.5% | +2.6% | |
| Q2 2018 | -8.4% | -7.5% | +2.6% | |
| Q1 2018 | +2.3% | +6.4% | +10.4% | |
| Q1 2016 | -2.2% | -3.1% | -6.9% | |
| Q2 2016 | -2.2% | -3.1% | -6.9% | |
| Q4 2017 | -2.2% | -3.1% | -6.9% | |
| Q3 2016 | +1.8% | +7.9% | +19.4% | |
| Q1 2017 | +1.8% | +7.9% | +19.4% | |
| Q3 2017 | +1.8% | +7.9% | +19.4% | |
| Q4 2016 | +1.8% | +7.9% | +19.4% |
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