EYE · CIK 0001710155 · FY2025 live · 2025-12-31
National Vision Holdings, Inc.
View as
Model
Classic Z
FY2025
1.64
Zone
Distress
Prior
—
Market DD
—
1y PD
—
1.64
Z″ 0.82
Score 1.64 · distress below 1.80, grey to 2.99, safe at 3.00 and above.
Classic Z factor contributions
X1 Working capital / assets
Short-term liquidity versus the size of the balance sheet.
−0.091.2 × = −0.11X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
0.131.4 × = 0.18X3 EBIT / assets
Operating return on assets. Highest weight in the original model.
0.033.3 × = 0.10X4 Book equity / liabilities
Book equity versus the liability stack. Mega-caps often look greyer here than they would if X4 used market cap.
0.780.6 × = 0.47X5 Sales / assets
Asset turnover — how much revenue the asset base supports.
1.001 × = 1.00
Five-year path
Need two annual 10-Ks to draw a path. The desk will pull this issuer’s filings rather than invent a series.
Overview
rule-v1
National Vision Holdings, Inc. is on classic Z at 1.64 (distress) for FY2025, from an SEC 10-K. Sales / assets is the line that sets the print. This is the first live year on the desk. No market tape loaded. Classic Z was fit on manufacturers; buybacks can send retained earnings negative at otherwise healthy issuers, and X4 is book equity, not market cap.
Book screen Distress; market PD —. Tape not priced — not a single default call.
Market DD · naive Merton
No market tape yet.
Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.
Sector peers
Closest Classic Z scores · 73rd percentile in Healthcare.
KPI widgets
Current assets
$226M
Total assets
$2.0B
Current liabilities
$412M
Total liabilities
$1.1B
Working capital
−$187M
Retained earnings
$256M
EBIT
$59M
Total sales
$2.0B
Book equity
$870M
Accession 0001628280-26-014379. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Classic Z is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 12 Sept 2026.