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Side-by-side financial comparison of Krispy Kreme, Inc. (DNUT) and National Vision Holdings, Inc. (EYE). Click either name above to swap in a different company.
National Vision Holdings, Inc. is the larger business by last-quarter revenue ($487.3M vs $392.4M, roughly 1.2× Krispy Kreme, Inc.). National Vision Holdings, Inc. runs the higher net margin — 0.7% vs -7.1%, a 7.8% gap on every dollar of revenue. On growth, National Vision Holdings, Inc. posted the faster year-over-year revenue change (7.9% vs -2.9%). National Vision Holdings, Inc. produced more free cash flow last quarter ($30.3M vs $27.9M). Over the past eight quarters, National Vision Holdings, Inc.'s revenue compounded faster (7.6% CAGR vs -5.9%).
Krispy Kreme, Inc. is an American multinational doughnut company and coffeehouse chain. Krispy Kreme was founded by Vernon Rudolph (1915–1973), who bought a yeast-raised recipe from a New Orleans chef, rented a building in 1937 in what is now historic Old Salem in Winston-Salem, North Carolina, and began selling to local grocery stores. Steady growth preceded an ambitious expansion as a public company in the period 2000 to 2016, which ultimately proved unprofitable. In 2016, the company retur...
Vision Research is an international company that manufactures high-speed digital cameras based in Wayne, New Jersey. Their cameras are marketed under the Phantom brand, and are used in a broad variety of industries including: defense, industrial product development, manufacturing, automotive, scientific research, and entertainment. Vision Research is a business unit of the Materials Analysis Division of Ametek Inc., a global manufacturer of electronic instruments and electromechanical devices.
DNUT vs EYE — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $392.4M | $487.3M |
| Net Profit | $-27.8M | $3.4M |
| Gross Margin | — | — |
| Operating Margin | -1.9% | 2.0% |
| Net Margin | -7.1% | 0.7% |
| Revenue YoY | -2.9% | 7.9% |
| Net Profit YoY | -23.8% | 139.8% |
| EPS (diluted) | $-0.18 | $0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $392.4M | — | ||
| Q3 25 | $375.3M | $487.3M | ||
| Q2 25 | $379.8M | $486.4M | ||
| Q1 25 | $375.2M | $510.3M | ||
| Q4 24 | $404.0M | $437.3M | ||
| Q3 24 | $379.9M | $451.5M | ||
| Q2 24 | $438.8M | $451.7M | ||
| Q1 24 | $442.7M | $482.8M |
| Q4 25 | $-27.8M | — | ||
| Q3 25 | $-19.4M | $3.4M | ||
| Q2 25 | $-435.3M | $8.7M | ||
| Q1 25 | $-33.3M | $14.2M | ||
| Q4 24 | $-22.4M | $-28.6M | ||
| Q3 24 | $39.6M | $-8.5M | ||
| Q2 24 | $-5.5M | $-3.1M | ||
| Q1 24 | $-8.5M | $11.7M |
| Q4 25 | -1.9% | — | ||
| Q3 25 | -1.9% | 2.0% | ||
| Q2 25 | -114.4% | 3.4% | ||
| Q1 25 | -5.4% | 5.1% | ||
| Q4 24 | -2.8% | -5.8% | ||
| Q3 24 | -4.2% | -2.0% | ||
| Q2 24 | 1.6% | 0.1% | ||
| Q1 24 | 2.7% | 4.9% |
| Q4 25 | -7.1% | — | ||
| Q3 25 | -5.2% | 0.7% | ||
| Q2 25 | -114.6% | 1.8% | ||
| Q1 25 | -8.9% | 2.8% | ||
| Q4 24 | -5.6% | -6.5% | ||
| Q3 24 | 10.4% | -1.9% | ||
| Q2 24 | -1.3% | -0.7% | ||
| Q1 24 | -1.9% | 2.4% |
| Q4 25 | $-0.18 | — | ||
| Q3 25 | $-0.11 | $0.04 | ||
| Q2 25 | $-2.55 | $0.11 | ||
| Q1 25 | $-0.20 | $0.18 | ||
| Q4 24 | $-0.13 | $-0.36 | ||
| Q3 24 | $0.23 | $-0.11 | ||
| Q2 24 | $-0.03 | $-0.04 | ||
| Q1 24 | $-0.05 | $0.15 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $42.4M | $56.0M |
| Total DebtLower is stronger | $911.9M | $236.5M |
| Stockholders' EquityBook value | $650.1M | $858.8M |
| Total Assets | $2.6B | $2.0B |
| Debt / EquityLower = less leverage | 1.40× | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.4M | — | ||
| Q3 25 | $30.7M | $56.0M | ||
| Q2 25 | $21.3M | $48.5M | ||
| Q1 25 | $18.7M | $80.0M | ||
| Q4 24 | $29.0M | $73.9M | ||
| Q3 24 | $25.4M | $81.2M | ||
| Q2 24 | $28.6M | $179.5M | ||
| Q1 24 | $33.1M | $150.1M |
| Q4 25 | $911.9M | — | ||
| Q3 25 | $906.2M | $236.5M | ||
| Q2 25 | $889.4M | $255.6M | ||
| Q1 25 | $935.0M | $244.7M | ||
| Q4 24 | $844.5M | $248.6M | ||
| Q3 24 | $804.6M | $252.8M | ||
| Q2 24 | $895.0M | $143.9M | ||
| Q1 24 | $881.8M | $448.6M |
| Q4 25 | $650.1M | — | ||
| Q3 25 | $670.3M | $858.8M | ||
| Q2 25 | $693.6M | $850.6M | ||
| Q1 25 | $1.1B | $836.2M | ||
| Q4 24 | $1.1B | $816.3M | ||
| Q3 24 | $1.2B | $840.0M | ||
| Q2 24 | $1.1B | $843.4M | ||
| Q1 24 | $1.2B | $841.3M |
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.6B | $2.0B | ||
| Q2 25 | $2.6B | $2.0B | ||
| Q1 25 | $3.1B | $2.0B | ||
| Q4 24 | $3.1B | $2.0B | ||
| Q3 24 | $3.1B | $2.0B | ||
| Q2 24 | $3.2B | $2.1B | ||
| Q1 24 | $3.2B | $2.2B |
| Q4 25 | 1.40× | — | ||
| Q3 25 | 1.35× | 0.28× | ||
| Q2 25 | 1.28× | 0.30× | ||
| Q1 25 | 0.85× | 0.29× | ||
| Q4 24 | 0.74× | 0.30× | ||
| Q3 24 | 0.68× | 0.30× | ||
| Q2 24 | 0.79× | 0.17× | ||
| Q1 24 | 0.76× | 0.53× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $45.0M | $46.6M |
| Free Cash FlowOCF − Capex | $27.9M | $30.3M |
| FCF MarginFCF / Revenue | 7.1% | 6.2% |
| Capex IntensityCapex / Revenue | 4.4% | 3.4% |
| Cash ConversionOCF / Net Profit | — | 13.83× |
| TTM Free Cash FlowTrailing 4 quarters | $-64.0M | $83.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $45.0M | — | ||
| Q3 25 | $42.3M | $46.6M | ||
| Q2 25 | $-32.5M | $54.3M | ||
| Q1 25 | $-20.8M | $32.2M | ||
| Q4 24 | $27.0M | $30.3M | ||
| Q3 24 | $3.3M | $27.9M | ||
| Q2 24 | $33.2M | $51.5M | ||
| Q1 24 | $-17.7M | $24.0M |
| Q4 25 | $27.9M | — | ||
| Q3 25 | $15.5M | $30.3M | ||
| Q2 25 | $-60.8M | $42.4M | ||
| Q1 25 | $-46.7M | $12.0M | ||
| Q4 24 | $-6.9M | $-1.7M | ||
| Q3 24 | $-22.9M | $4.1M | ||
| Q2 24 | $1.6M | $31.9M | ||
| Q1 24 | $-46.8M | $4.0M |
| Q4 25 | 7.1% | — | ||
| Q3 25 | 4.1% | 6.2% | ||
| Q2 25 | -16.0% | 8.7% | ||
| Q1 25 | -12.5% | 2.4% | ||
| Q4 24 | -1.7% | -0.4% | ||
| Q3 24 | -6.0% | 0.9% | ||
| Q2 24 | 0.4% | 7.1% | ||
| Q1 24 | -10.6% | 0.8% |
| Q4 25 | 4.4% | — | ||
| Q3 25 | 7.1% | 3.4% | ||
| Q2 25 | 7.4% | 2.4% | ||
| Q1 25 | 6.9% | 4.0% | ||
| Q4 24 | 8.4% | 7.3% | ||
| Q3 24 | 6.9% | 5.3% | ||
| Q2 24 | 7.2% | 4.3% | ||
| Q1 24 | 6.6% | 4.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | 13.83× | ||
| Q2 25 | — | 6.22× | ||
| Q1 25 | — | 2.27× | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.08× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.05× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
