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National Vision HoldingsEYE -4.30%76 Debt-to-EBITDA is 3.91 as of Jun. 2026, which is 36% below its 10-year median of 6.07. GuruFocus rates EYE with a GF Score™ of 76/100 and a GF Value™ of $22.09 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 910 Retail - Cyclical companies, National Vision Holdings ranks worse than 70% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for National Vision Holdings's Debt-to-EBITDA or its related term are showing as below:
EYE'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 3.52 Med: 6.07 Max: 9.11
Current: 3.74
During the past 11 years, the highest Debt-to-EBITDA Ratio of National Vision Holdings was 9.11. The lowest was 3.52. And the median was 6.07.
EYE's Debt-to-EBITDA is ranked worse than 70% of 910
companies
in the Retail - Cyclical industry
Industry Median: 2.35
vs EYE: 3.74
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
National Vision Holdings Debt-to-EBITDA Related Terms
National Vision Holdings Debt-to-EBITDA Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Specialty Retail subindustry, National Vision Holdings's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
National Vision Holdings Debt-to-EBITDA vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, National Vision Holdings's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where National Vision Holdings's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Jun. 2026) EBITDA data.
National Vision Holdings (EYE) has a Debt-to-EBITDA of 3.91 as of Jun. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on National Vision Holdings. This is 36% below median its historical median of 6.07. Over the past decade, National Vision Holdings' Debt-to-EBITDA has ranged from 3.52 to 9.11. According to the industry distribution chart, National Vision Holdings ranks #637 out of 910 companies in the Retail - Cyclical industry, placing it in the top 70%.
Is National Vision Holdings' Debt-to-EBITDA too high?
National Vision Holdings' current Debt-to-EBITDA of 3.91 is 36% below median its 10-year median of 6.07. Over the past 10 years, this metric has ranged from a low of 3.52 to a high of 9.11. The Retail - Cyclical industry median Debt-to-EBITDA is 2.35. National Vision Holdings' value of 3.91 is 66.4% above this industry median. Based on the distribution chart, National Vision Holdings ranks #637 out of 910 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, National Vision Holdings has a GF Score™ of 76/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does National Vision Holdings' Debt-to-EBITDA compare to SVV and SBH?
According to the Retail - Cyclical industry distribution chart, National Vision Holdings ranks #637 out of 910 companies for Debt-to-EBITDA. This places National Vision Holdings in the lower half of its industry. The industry median Debt-to-EBITDA is 2.35. National Vision Holdings' value of 3.91 is 66.4% above this benchmark. Historically, National Vision Holdings' own Debt-to-EBITDA has ranged from 3.52 to 9.11 over the past decade. While the company's 10-year median is 6.07 vs. the industry median of 2.35, National Vision Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Retail - Cyclical company?
The median Debt-to-EBITDA among Retail - Cyclical companies is 2.35, based on 910 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Vision Holdings's current Debt-to-EBITDA of 3.91 is 66.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on National Vision Holdings. For the Retail - Cyclical industry, the median Debt-to-EBITDA is 2.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Vision Holdings's current Debt-to-EBITDA is 3.91, which is 36% below median its own 10-year median of 6.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Vision Holdings stock overvalued right now?
Based on GuruFocus' analysis, National Vision Holdings (EYE) is currently considered Modestly Undervalued. The stock's GF Value™ is $22.09, compared to a current price of $18.48 — trading 16.3% below its estimated fair value. The current Debt-to-EBITDA is 3.91, which is 36% below median its 10-year median of 6.07 and 66.4% above the Retail - Cyclical industry median of 2.35. National Vision Holdings' overall GF Score™ is 76/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For National Vision Holdings (EYE), the current Debt-to-EBITDA is 3.91 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is National Vision Holdings (EYE) Overvalued in 2026?
Based on GuruFocus' analysis, National Vision Holdings stock appears to be undervalued.
The current stock price of $18.48 is trading 16.3% below its estimated GF Value™ of $22.09.
GuruFocus considers National Vision Holdings to be Modestly Undervalued.
Key valuation signals for EYE:
Debt-to-EBITDA: 3.91 (36% below median its 10-year median of 6.07)
GF Value™: $22.09 vs. price of $18.48 (16.3% below fair value)
Industry Position: 66.4% above the Retail - Cyclical median (#637 of 910)
No single metric tells the full story. See the EYE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Vision Holdings Inc. is an optical retailer in the United States. Its product portfolio includes eyeglasses, sunglasses, contact lenses, accessories, and other related products. The company operates through a single operating segment. The Owned and Host segment includes the 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. The Host segment consists of Military and Fred Meyer locations, where eye exams are provided by independent optometrists.
76GF Score
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