National Vision Holdings, Inc. (EYE)

Ophthalmic Goods

Latest Price

$17.51

TTM P/E

Normalized P/E

44.27

Div Yield

Book Value

11.27

P/B Ratio

1.55

Valuation metrics

EPS: $0.37

Book value / share: $10.95

Formula: √(22.5 × EPS × BVPS)

Graham Number

$9.55

45% downside

Norm. op. income: $60M (median of 6yr)

Tax rate: 29%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$2.88

84% downside

Base FCF: $58M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$52.11

+198% upside

EPS: $0.37

Target P/E: 44×

Formula: EPS × P/E

P/E Fair Value

$16.28

7% downside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	12.11M	$230.0M	15.32%	+578.8K	2026-06-30
WELLINGTON MANAGEMENT GROUP LLP	7.67M	$145.0M	9.70%	+2.17M	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	5.43M	$103.0M	6.87%	-314.4K	2026-06-30
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC	4.75M	$90.0M	6.00%	+521.7K	2026-06-30
FMR LLC	4.07M	$77.0M	5.15%	+2.98M	2026-06-30
Engine Capital Management, LP	3.52M	$66.0M	4.45%	+3.51M	2026-06-30
STATE STREET CORP	3.47M	$65.0M	4.38%	+287.1K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	3.40M	$64.0M	4.30%	-37.7K	2026-06-30
DIMENSIONAL FUND ADVISORS LP	3.38M	$64.0M	4.28%	+322.6K	2026-06-30
AMERIPRISE FINANCIAL INC	3.15M	$59.0M	3.98%	+1.85M	2026-06-30