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Side-by-side financial comparison of National Vision Holdings, Inc. (EYE) and RxSight, Inc. (RXST). 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 $32.6M, roughly 14.9× RxSight, Inc.). National Vision Holdings, Inc. runs the higher net margin — 0.7% vs -28.1%, a 28.8% gap on every dollar of revenue. On growth, National Vision Holdings, Inc. posted the faster year-over-year revenue change (7.9% vs -18.9%). National Vision Holdings, Inc. produced more free cash flow last quarter ($30.3M vs $-2.3M). Over the past eight quarters, National Vision Holdings, Inc.'s revenue compounded faster (7.6% CAGR vs 5.1%).
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.
RxSight, Inc. is a medical technology company focused on developing and commercializing innovative intraocular lens solutions for patients undergoing cataract and refractive lens exchange procedures. Its flagship Light Adjustable Lens allows post-surgery power adjustment via a dedicated light delivery device, serving global ophthalmology care markets to improve post-operative visual outcomes for patients.
EYE vs RXST — Head-to-Head
Income Statement — Q3 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $487.3M | $32.6M |
| Net Profit | $3.4M | $-9.2M |
| Gross Margin | — | 77.5% |
| Operating Margin | 2.0% | -34.8% |
| Net Margin | 0.7% | -28.1% |
| Revenue YoY | 7.9% | -18.9% |
| Net Profit YoY | 139.8% | -54.1% |
| EPS (diluted) | $0.04 | $-0.22 |
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 | — | $32.6M | ||
| Q3 25 | $487.3M | $30.3M | ||
| Q2 25 | $486.4M | $33.6M | ||
| Q1 25 | $510.3M | $37.9M | ||
| Q4 24 | $437.3M | $40.2M | ||
| Q3 24 | $451.5M | $35.3M | ||
| Q2 24 | $451.7M | $34.9M | ||
| Q1 24 | $482.8M | $29.5M |
| Q4 25 | — | $-9.2M | ||
| Q3 25 | $3.4M | $-9.8M | ||
| Q2 25 | $8.7M | $-11.8M | ||
| Q1 25 | $14.2M | $-8.2M | ||
| Q4 24 | $-28.6M | $-5.9M | ||
| Q3 24 | $-8.5M | $-6.3M | ||
| Q2 24 | $-3.1M | $-6.1M | ||
| Q1 24 | $11.7M | $-9.1M |
| Q4 25 | — | 77.5% | ||
| Q3 25 | — | 79.9% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 74.8% | ||
| Q4 24 | — | 71.6% | ||
| Q3 24 | — | 71.4% | ||
| Q2 24 | — | 69.5% | ||
| Q1 24 | — | 70.1% |
| Q4 25 | — | -34.8% | ||
| Q3 25 | 2.0% | -40.1% | ||
| Q2 25 | 3.4% | -41.6% | ||
| Q1 25 | 5.1% | -28.2% | ||
| Q4 24 | -5.8% | -21.5% | ||
| Q3 24 | -2.0% | -26.1% | ||
| Q2 24 | 0.1% | -23.9% | ||
| Q1 24 | 4.9% | -36.2% |
| Q4 25 | — | -28.1% | ||
| Q3 25 | 0.7% | -32.4% | ||
| Q2 25 | 1.8% | -35.0% | ||
| Q1 25 | 2.8% | -21.6% | ||
| Q4 24 | -6.5% | -14.8% | ||
| Q3 24 | -1.9% | -17.9% | ||
| Q2 24 | -0.7% | -17.4% | ||
| Q1 24 | 2.4% | -30.8% |
| Q4 25 | — | $-0.22 | ||
| Q3 25 | $0.04 | $-0.24 | ||
| Q2 25 | $0.11 | $-0.29 | ||
| Q1 25 | $0.18 | $-0.20 | ||
| Q4 24 | $-0.36 | $-0.14 | ||
| Q3 24 | $-0.11 | $-0.16 | ||
| Q2 24 | $-0.04 | $-0.16 | ||
| Q1 24 | $0.15 | $-0.25 |
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 | $228.1M |
| Total DebtLower is stronger | $236.5M | — |
| Stockholders' EquityBook value | $858.8M | $275.7M |
| Total Assets | $2.0B | $311.8M |
| Debt / EquityLower = less leverage | 0.28× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $228.1M | ||
| Q3 25 | $56.0M | $227.5M | ||
| Q2 25 | $48.5M | $227.5M | ||
| Q1 25 | $80.0M | $229.3M | ||
| Q4 24 | $73.9M | $237.2M | ||
| Q3 24 | $81.2M | $237.1M | ||
| Q2 24 | $179.5M | $233.3M | ||
| Q1 24 | $150.1M | $125.4M |
| 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 | — | $275.7M | ||
| Q3 25 | $858.8M | $276.0M | ||
| Q2 25 | $850.6M | $278.0M | ||
| Q1 25 | $836.2M | $279.3M | ||
| Q4 24 | $816.3M | $281.2M | ||
| Q3 24 | $840.0M | $277.3M | ||
| Q2 24 | $843.4M | $275.2M | ||
| Q1 24 | $841.3M | $163.9M |
| Q4 25 | — | $311.8M | ||
| Q3 25 | $2.0B | $308.5M | ||
| Q2 25 | $2.0B | $309.0M | ||
| Q1 25 | $2.0B | $313.0M | ||
| Q4 24 | $2.0B | $318.6M | ||
| Q3 24 | $2.0B | $310.5M | ||
| Q2 24 | $2.1B | $305.5M | ||
| Q1 24 | $2.2B | $183.2M |
| 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 | $-1.1M |
| Free Cash FlowOCF − Capex | $30.3M | $-2.3M |
| FCF MarginFCF / Revenue | 6.2% | -6.9% |
| Capex IntensityCapex / Revenue | 3.4% | 3.5% |
| Cash ConversionOCF / Net Profit | 13.83× | — |
| TTM Free Cash FlowTrailing 4 quarters | $83.0M | $-19.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-1.1M | ||
| Q3 25 | $46.6M | $-1.2M | ||
| Q2 25 | $54.3M | $-4.4M | ||
| Q1 25 | $32.2M | $-8.8M | ||
| Q4 24 | $30.3M | $-4.3M | ||
| Q3 24 | $27.9M | $650.0K | ||
| Q2 24 | $51.5M | $-4.0M | ||
| Q1 24 | $24.0M | $-9.3M |
| Q4 25 | — | $-2.3M | ||
| Q3 25 | $30.3M | $-1.8M | ||
| Q2 25 | $42.4M | $-5.9M | ||
| Q1 25 | $12.0M | $-9.4M | ||
| Q4 24 | $-1.7M | $-5.1M | ||
| Q3 24 | $4.1M | $-453.0K | ||
| Q2 24 | $31.9M | $-5.5M | ||
| Q1 24 | $4.0M | $-11.3M |
| Q4 25 | — | -6.9% | ||
| Q3 25 | 6.2% | -5.8% | ||
| Q2 25 | 8.7% | -17.6% | ||
| Q1 25 | 2.4% | -24.8% | ||
| Q4 24 | -0.4% | -12.7% | ||
| Q3 24 | 0.9% | -1.3% | ||
| Q2 24 | 7.1% | -15.9% | ||
| Q1 24 | 0.8% | -38.2% |
| Q4 25 | — | 3.5% | ||
| Q3 25 | 3.4% | 1.9% | ||
| Q2 25 | 2.4% | 4.6% | ||
| Q1 25 | 4.0% | 1.5% | ||
| Q4 24 | 7.3% | 2.1% | ||
| Q3 24 | 5.3% | 3.1% | ||
| Q2 24 | 4.3% | 4.4% | ||
| Q1 24 | 4.1% | 6.7% |
| Q4 25 | — | — | ||
| Q3 25 | 13.83× | — | ||
| Q2 25 | 6.22× | — | ||
| Q1 25 | 2.27× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.05× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EYE
Segment breakdown not available.
RXST
| Rxlal | $28.2M | 86% |
| LDD | $3.0M | 9% |
| Service Warranty Service Contracts And Accessories | $1.5M | 4% |
