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Side-by-side financial comparison of National Vision Holdings, Inc. (EYE) and Palomar Holdings, Inc. (PLMR). 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 $253.4M, roughly 1.9× Palomar Holdings, Inc.). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs 7.9%). Palomar Holdings, Inc. produced more free cash flow last quarter ($409.0M vs $30.3M). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% CAGR vs 7.6%).
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.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
EYE vs PLMR — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $487.3M | $253.4M |
| Net Profit | $3.4M | — |
| Gross Margin | — | — |
| Operating Margin | 2.0% | 28.7% |
| Net Margin | 0.7% | — |
| Revenue YoY | 7.9% | 62.7% |
| Net Profit YoY | 139.8% | — |
| EPS (diluted) | $0.04 | $2.05 |
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 | — | $253.4M | ||
| Q3 25 | $487.3M | $244.7M | ||
| Q2 25 | $486.4M | $203.3M | ||
| Q1 25 | $510.3M | $174.6M | ||
| Q4 24 | $437.3M | $155.8M | ||
| Q3 24 | $451.5M | $148.5M | ||
| Q2 24 | $451.7M | $131.1M | ||
| Q1 24 | $482.8M | $118.5M |
| Q4 25 | — | — | ||
| Q3 25 | $3.4M | $51.5M | ||
| Q2 25 | $8.7M | $46.5M | ||
| Q1 25 | $14.2M | $42.9M | ||
| Q4 24 | $-28.6M | — | ||
| Q3 24 | $-8.5M | $30.5M | ||
| Q2 24 | $-3.1M | $25.7M | ||
| Q1 24 | $11.7M | $26.4M |
| Q4 25 | — | 28.7% | ||
| Q3 25 | 2.0% | 27.4% | ||
| Q2 25 | 3.4% | 29.5% | ||
| Q1 25 | 5.1% | 30.8% | ||
| Q4 24 | -5.8% | 28.9% | ||
| Q3 24 | -2.0% | 25.9% | ||
| Q2 24 | 0.1% | 25.5% | ||
| Q1 24 | 4.9% | 29.0% |
| Q4 25 | — | — | ||
| Q3 25 | 0.7% | 21.0% | ||
| Q2 25 | 1.8% | 22.9% | ||
| Q1 25 | 2.8% | 24.6% | ||
| Q4 24 | -6.5% | — | ||
| Q3 24 | -1.9% | 20.5% | ||
| Q2 24 | -0.7% | 19.6% | ||
| Q1 24 | 2.4% | 22.3% |
| Q4 25 | — | $2.05 | ||
| Q3 25 | $0.04 | $1.87 | ||
| Q2 25 | $0.11 | $1.68 | ||
| Q1 25 | $0.18 | $1.57 | ||
| Q4 24 | $-0.36 | $1.29 | ||
| Q3 24 | $-0.11 | $1.15 | ||
| Q2 24 | $-0.04 | $1.00 | ||
| Q1 24 | $0.15 | $1.04 |
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 | $106.9M |
| Total DebtLower is stronger | $236.5M | — |
| Stockholders' EquityBook value | $858.8M | $942.7M |
| Total Assets | $2.0B | $3.1B |
| Debt / EquityLower = less leverage | 0.28× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $106.9M | ||
| Q3 25 | $56.0M | $111.7M | ||
| Q2 25 | $48.5M | $81.3M | ||
| Q1 25 | $80.0M | $119.3M | ||
| Q4 24 | $73.9M | $80.4M | ||
| Q3 24 | $81.2M | $86.5M | ||
| Q2 24 | $179.5M | $47.8M | ||
| Q1 24 | $150.1M | $61.4M |
| Q4 25 | — | — | ||
| Q3 25 | $236.5M | — | ||
| Q2 25 | $255.6M | — | ||
| Q1 25 | $244.7M | — | ||
| Q4 24 | $248.6M | — | ||
| Q3 24 | $252.8M | — | ||
| Q2 24 | $143.9M | — | ||
| Q1 24 | $448.6M | — |
| Q4 25 | — | $942.7M | ||
| Q3 25 | $858.8M | $878.1M | ||
| Q2 25 | $850.6M | $847.2M | ||
| Q1 25 | $836.2M | $790.4M | ||
| Q4 24 | $816.3M | $729.0M | ||
| Q3 24 | $840.0M | $703.3M | ||
| Q2 24 | $843.4M | $532.6M | ||
| Q1 24 | $841.3M | $501.7M |
| Q4 25 | — | $3.1B | ||
| Q3 25 | $2.0B | $2.9B | ||
| Q2 25 | $2.0B | $2.8B | ||
| Q1 25 | $2.0B | $2.4B | ||
| Q4 24 | $2.0B | $2.3B | ||
| Q3 24 | $2.0B | $2.3B | ||
| Q2 24 | $2.1B | $2.0B | ||
| Q1 24 | $2.2B | $1.9B |
| Q4 25 | — | — | ||
| Q3 25 | 0.28× | — | ||
| Q2 25 | 0.30× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.30× | — | ||
| Q3 24 | 0.30× | — | ||
| Q2 24 | 0.17× | — | ||
| Q1 24 | 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 | $46.6M | $409.1M |
| Free Cash FlowOCF − Capex | $30.3M | $409.0M |
| FCF MarginFCF / Revenue | 6.2% | 161.4% |
| Capex IntensityCapex / Revenue | 3.4% | 0.1% |
| Cash ConversionOCF / Net Profit | 13.83× | — |
| TTM Free Cash FlowTrailing 4 quarters | $83.0M | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $409.1M | ||
| Q3 25 | $46.6M | $83.6M | ||
| Q2 25 | $54.3M | $120.9M | ||
| Q1 25 | $32.2M | $87.2M | ||
| Q4 24 | $30.3M | $261.2M | ||
| Q3 24 | $27.9M | $100.3M | ||
| Q2 24 | $51.5M | $55.1M | ||
| Q1 24 | $24.0M | $33.1M |
| Q4 25 | — | $409.0M | ||
| Q3 25 | $30.3M | $83.6M | ||
| Q2 25 | $42.4M | $120.8M | ||
| Q1 25 | $12.0M | $87.1M | ||
| Q4 24 | $-1.7M | $260.9M | ||
| Q3 24 | $4.1M | $100.1M | ||
| Q2 24 | $31.9M | — | ||
| Q1 24 | $4.0M | — |
| Q4 25 | — | 161.4% | ||
| Q3 25 | 6.2% | 34.2% | ||
| Q2 25 | 8.7% | 59.4% | ||
| Q1 25 | 2.4% | 49.9% | ||
| Q4 24 | -0.4% | 167.5% | ||
| Q3 24 | 0.9% | 67.4% | ||
| Q2 24 | 7.1% | — | ||
| Q1 24 | 0.8% | — |
| Q4 25 | — | 0.1% | ||
| Q3 25 | 3.4% | 0.0% | ||
| Q2 25 | 2.4% | 0.0% | ||
| Q1 25 | 4.0% | 0.0% | ||
| Q4 24 | 7.3% | 0.2% | ||
| Q3 24 | 5.3% | 0.1% | ||
| Q2 24 | 4.3% | 0.0% | ||
| Q1 24 | 4.1% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | 13.83× | 1.63× | ||
| Q2 25 | 6.22× | 2.60× | ||
| Q1 25 | 2.27× | 2.03× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.29× | ||
| Q2 24 | — | 2.14× | ||
| Q1 24 | 2.05× | 1.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
