Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
National Vision HoldingsEYE +4.25%74 Gross Margin % is 59.71% as of Mar. 2026, which is 8% above its 10-year median of 55.48. GuruFocus rates EYE with a GF Score™ of 74/100 and a GF Value™ of $23.96 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,112 Retail - Cyclical companies, National Vision Holdings ranks better than 84.53% on this metric.
National Vision Holdings (NAS:EYE) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
National Vision Holdings had a gross margin of 59.71% for the quarter that ended in Mar. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
National Vision Holdings Gross Margin % Related Terms
National Vision Holdings Gross Margin % 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 Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, National Vision Holdings's Gross Margin % distribution charts can be found below:
* The bar in red indicates where National Vision Holdings's Gross Margin % 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
National Vision Holdings (EYE) has a Gross Margin % of 59.71% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on National Vision Holdings and its competitors. This is near median its historical median of 55.48. Over the past decade, National Vision Holdings' Gross Margin % has ranged from 53.23 to 59.40. According to the industry distribution chart, National Vision Holdings ranks #172 out of 1112 companies in the Retail - Cyclical industry, placing it in the top 15.5%.
Is National Vision Holdings' Gross Margin % too high?
National Vision Holdings' current Gross Margin % of 59.71% is near median its 10-year median of 55.48. Over the past 10 years, this metric has ranged from a low of 53.23 to a high of 59.40. The Retail - Cyclical industry median Gross Margin % is 36.24. National Vision Holdings' value of 59.71% is 64.8% above this industry median. Based on the distribution chart, National Vision Holdings ranks #172 out of 1112 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, National Vision Holdings has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does National Vision Holdings' Gross Margin % compare to WINA and SVV?
According to the Retail - Cyclical industry distribution chart, National Vision Holdings ranks #172 out of 1112 companies for Gross Margin %. This places National Vision Holdings in the top 16% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 36.24. National Vision Holdings' value of 59.71% is 64.8% above this benchmark. Historically, National Vision Holdings' own Gross Margin % has ranged from 53.23 to 59.40 over the past decade. While the company's 10-year median is 55.48 vs. the industry median of 36.24, 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 Gross Margin % for a Retail - Cyclical company?
The median Gross Margin % among Retail - Cyclical companies is 36.24, based on 1,112 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Vision Holdings's current Gross Margin % of 59.71% is 64.8% 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 Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on National Vision Holdings and its competitors. For the Retail - Cyclical industry, the median Gross Margin % is 36.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Vision Holdings's current Gross Margin % is 59.71%, which is near median its own 10-year median of 55.48. 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 $23.96, compared to a current price of $20.11 — trading 16.1% below its estimated fair value. The current Gross Margin % is 59.71%, which is near median its 10-year median of 55.48 and 64.8% above the Retail - Cyclical industry median of 36.24. National Vision Holdings' overall GF Score™ is 74/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For National Vision Holdings (EYE), the current Gross Margin % is 59.71% as of Mar. 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 $20.11 is trading 16.1% below its estimated GF Value™ of $23.96.
GuruFocus considers National Vision Holdings to be Modestly Undervalued.
Key valuation signals for EYE:
Gross Margin %: 59.71% (near median its 10-year median of 55.48)
GF Value™: $23.96 vs. price of $20.11 (16.1% below fair value)
Industry Position: 64.8% above the Retail - Cyclical median (#172 of 1112)
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.
74GF Score
Get the complete analysis for EYE
Gross Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
EYE has been successfully added to your 
