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Side-by-side financial comparison of National Vision Holdings, Inc. (EYE) and Gaming & Leisure Properties, Inc. (GLPI). 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 $420.0M, roughly 1.2× Gaming & Leisure Properties, Inc.). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs 0.7%, a 56.3% gap on every dollar of revenue. On growth, National Vision Holdings, Inc. posted the faster year-over-year revenue change (7.9% vs 6.3%). Over the past eight quarters, National Vision Holdings, Inc.'s revenue compounded faster (7.6% CAGR vs 5.0%).
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.
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
EYE vs GLPI — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $487.3M | $420.0M |
| Net Profit | $3.4M | $239.4M |
| Gross Margin | — | — |
| Operating Margin | 2.0% | 79.4% |
| Net Margin | 0.7% | 57.0% |
| Revenue YoY | 7.9% | 6.3% |
| Net Profit YoY | 139.8% | 40.5% |
| EPS (diluted) | $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.
| Q1 26 | — | $420.0M | ||
| Q4 25 | — | $407.0M | ||
| Q3 25 | $487.3M | $397.6M | ||
| Q2 25 | $486.4M | $394.9M | ||
| Q1 25 | $510.3M | $395.2M | ||
| Q4 24 | $437.3M | $389.6M | ||
| Q3 24 | $451.5M | $385.3M | ||
| Q2 24 | $451.7M | $380.6M |
| Q1 26 | — | $239.4M | ||
| Q4 25 | — | $275.4M | ||
| Q3 25 | $3.4M | $241.2M | ||
| Q2 25 | $8.7M | $151.4M | ||
| Q1 25 | $14.2M | $165.2M | ||
| Q4 24 | $-28.6M | $223.6M | ||
| Q3 24 | $-8.5M | $184.7M | ||
| Q2 24 | $-3.1M | $208.3M |
| Q1 26 | — | 79.4% | ||
| Q4 25 | — | 89.3% | ||
| Q3 25 | 2.0% | 84.8% | ||
| Q2 25 | 3.4% | 61.3% | ||
| Q1 25 | 5.1% | 65.5% | ||
| Q4 24 | -5.8% | 79.1% | ||
| Q3 24 | -2.0% | 70.4% | ||
| Q2 24 | 0.1% | 77.1% |
| Q1 26 | — | 57.0% | ||
| Q4 25 | — | 67.6% | ||
| Q3 25 | 0.7% | 60.7% | ||
| Q2 25 | 1.8% | 38.4% | ||
| Q1 25 | 2.8% | 41.8% | ||
| Q4 24 | -6.5% | 57.4% | ||
| Q3 24 | -1.9% | 47.9% | ||
| Q2 24 | -0.7% | 54.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | $0.96 | ||
| Q3 25 | $0.04 | $0.85 | ||
| Q2 25 | $0.11 | $0.54 | ||
| Q1 25 | $0.18 | $0.60 | ||
| Q4 24 | $-0.36 | $0.79 | ||
| Q3 24 | $-0.11 | $0.67 | ||
| Q2 24 | $-0.04 | $0.77 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $56.0M | $274.5M |
| Total DebtLower is stronger | $236.5M | — |
| Stockholders' EquityBook value | $858.8M | $5.0B |
| Total Assets | $2.0B | $13.8B |
| Debt / EquityLower = less leverage | 0.28× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $274.5M | ||
| Q4 25 | — | — | ||
| Q3 25 | $56.0M | — | ||
| Q2 25 | $48.5M | — | ||
| Q1 25 | $80.0M | — | ||
| Q4 24 | $73.9M | $560.8M | ||
| Q3 24 | $81.2M | $560.8M | ||
| Q2 24 | $179.5M | $560.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $7.2B | ||
| Q3 25 | $236.5M | $7.2B | ||
| Q2 25 | $255.6M | $6.9B | ||
| Q1 25 | $244.7M | $6.9B | ||
| Q4 24 | $248.6M | $7.7B | ||
| Q3 24 | $252.8M | $7.4B | ||
| Q2 24 | $143.9M | $6.6B |
| Q1 26 | — | $5.0B | ||
| Q4 25 | — | $4.6B | ||
| Q3 25 | $858.8M | $4.6B | ||
| Q2 25 | $850.6M | $4.6B | ||
| Q1 25 | $836.2M | $4.2B | ||
| Q4 24 | $816.3M | $4.3B | ||
| Q3 24 | $840.0M | $4.3B | ||
| Q2 24 | $843.4M | $4.1B |
| Q1 26 | — | $13.8B | ||
| Q4 25 | — | $12.9B | ||
| Q3 25 | $2.0B | $12.8B | ||
| Q2 25 | $2.0B | $12.5B | ||
| Q1 25 | $2.0B | $12.1B | ||
| Q4 24 | $2.0B | $13.1B | ||
| Q3 24 | $2.0B | $12.7B | ||
| Q2 24 | $2.1B | $11.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.56× | ||
| Q3 25 | 0.28× | 1.57× | ||
| Q2 25 | 0.30× | 1.51× | ||
| Q1 25 | 0.29× | 1.63× | ||
| Q4 24 | 0.30× | 1.81× | ||
| Q3 24 | 0.30× | 1.74× | ||
| Q2 24 | 0.17× | 1.60× |
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 | $46.6M | — |
| Free Cash FlowOCF − Capex | $30.3M | — |
| FCF MarginFCF / Revenue | 6.2% | — |
| Capex IntensityCapex / Revenue | 3.4% | — |
| Cash ConversionOCF / Net Profit | 13.83× | — |
| TTM Free Cash FlowTrailing 4 quarters | $83.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | $46.6M | $240.3M | ||
| Q2 25 | $54.3M | $293.4M | ||
| Q1 25 | $32.2M | $252.5M | ||
| Q4 24 | $30.3M | $1.1B | ||
| Q3 24 | $27.9M | $270.4M | ||
| Q2 24 | $51.5M | $252.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $30.3M | $183.0M | ||
| Q2 25 | $42.4M | $272.3M | ||
| Q1 25 | $12.0M | $239.6M | ||
| Q4 24 | $-1.7M | $1.1B | ||
| Q3 24 | $4.1M | $261.5M | ||
| Q2 24 | $31.9M | $245.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 6.2% | 46.0% | ||
| Q2 25 | 8.7% | 69.0% | ||
| Q1 25 | 2.4% | 60.6% | ||
| Q4 24 | -0.4% | 275.3% | ||
| Q3 24 | 0.9% | 67.9% | ||
| Q2 24 | 7.1% | 64.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 3.4% | 14.4% | ||
| Q2 25 | 2.4% | 5.3% | ||
| Q1 25 | 4.0% | 3.3% | ||
| Q4 24 | 7.3% | 0.0% | ||
| Q3 24 | 5.3% | 2.3% | ||
| Q2 24 | 4.3% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.10× | ||
| Q3 25 | 13.83× | 1.00× | ||
| Q2 25 | 6.22× | 1.94× | ||
| Q1 25 | 2.27× | 1.53× | ||
| Q4 24 | — | 4.80× | ||
| Q3 24 | — | 1.46× | ||
| Q2 24 | — | 1.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
