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Side-by-side financial comparison of National Vision Holdings, Inc. (EYE) and StubHub Holdings, Inc. (STUB). 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 $449.2M, roughly 1.1× StubHub Holdings, Inc.). On growth, National Vision Holdings, Inc. posted the faster year-over-year revenue change (7.9% vs -15.8%). National Vision Holdings, Inc. produced more free cash flow last quarter ($30.3M vs $2.0M).

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.

StubHub Holdings operates a leading global online ticket marketplace for live entertainment events. It facilitates secure resale and direct purchase of tickets for concerts, sports matches, theater performances and other live experiences, serving consumers, event organizers and sellers across North America, Europe and Asia-Pacific.

EYE vs STUB — Head-to-Head

Bigger by revenue
EYE
EYE
1.1× larger
EYE
$487.3M
$449.2M
STUB
Growing faster (revenue YoY)
EYE
EYE
+23.7% gap
EYE
7.9%
-15.8%
STUB
More free cash flow
EYE
EYE
$28.3M more FCF
EYE
$30.3M
$2.0M
STUB

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
EYE
EYE
STUB
STUB
Revenue
$487.3M
$449.2M
Net Profit
$3.4M
Gross Margin
83.1%
Operating Margin
2.0%
Net Margin
0.7%
Revenue YoY
7.9%
-15.8%
Net Profit YoY
139.8%
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.

Revenue
EYE
EYE
STUB
STUB
Q4 25
$449.2M
Q3 25
$487.3M
$468.1M
Q2 25
$486.4M
Q1 25
$510.3M
Q4 24
$437.3M
Q3 24
$451.5M
$433.8M
Q2 24
$451.7M
Q1 24
$482.8M
Net Profit
EYE
EYE
STUB
STUB
Q4 25
Q3 25
$3.4M
$-1.3B
Q2 25
$8.7M
Q1 25
$14.2M
Q4 24
$-28.6M
Q3 24
$-8.5M
$-33.0M
Q2 24
$-3.1M
Q1 24
$11.7M
Gross Margin
EYE
EYE
STUB
STUB
Q4 25
83.1%
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Operating Margin
EYE
EYE
STUB
STUB
Q4 25
Q3 25
2.0%
-292.3%
Q2 25
3.4%
Q1 25
5.1%
Q4 24
-5.8%
Q3 24
-2.0%
2.8%
Q2 24
0.1%
Q1 24
4.9%
Net Margin
EYE
EYE
STUB
STUB
Q4 25
Q3 25
0.7%
-276.6%
Q2 25
1.8%
Q1 25
2.8%
Q4 24
-6.5%
Q3 24
-1.9%
-7.6%
Q2 24
-0.7%
Q1 24
2.4%
EPS (diluted)
EYE
EYE
STUB
STUB
Q4 25
Q3 25
$0.04
$-4.27
Q2 25
$0.11
Q1 25
$0.18
Q4 24
$-0.36
Q3 24
$-0.11
$-0.15
Q2 24
$-0.04
Q1 24
$0.15

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
EYE
EYE
STUB
STUB
Cash + ST InvestmentsLiquidity on hand
$56.0M
Total DebtLower is stronger
$236.5M
Stockholders' EquityBook value
$858.8M
Total Assets
$2.0B
Debt / EquityLower = less leverage
0.28×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
EYE
EYE
STUB
STUB
Q4 25
Q3 25
$56.0M
$1.4B
Q2 25
$48.5M
Q1 25
$80.0M
Q4 24
$73.9M
Q3 24
$81.2M
$1.1B
Q2 24
$179.5M
Q1 24
$150.1M
Total Debt
EYE
EYE
STUB
STUB
Q4 25
Q3 25
$236.5M
$1.7B
Q2 25
$255.6M
Q1 25
$244.7M
Q4 24
$248.6M
Q3 24
$252.8M
Q2 24
$143.9M
Q1 24
$448.6M
Stockholders' Equity
EYE
EYE
STUB
STUB
Q4 25
Q3 25
$858.8M
$1.7B
Q2 25
$850.6M
Q1 25
$836.2M
Q4 24
$816.3M
Q3 24
$840.0M
$815.9M
Q2 24
$843.4M
Q1 24
$841.3M
Total Assets
EYE
EYE
STUB
STUB
Q4 25
Q3 25
$2.0B
$5.6B
Q2 25
$2.0B
Q1 25
$2.0B
Q4 24
$2.0B
Q3 24
$2.0B
Q2 24
$2.1B
Q1 24
$2.2B
Debt / Equity
EYE
EYE
STUB
STUB
Q4 25
Q3 25
0.28×
0.98×
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
EYE
EYE
STUB
STUB
Operating Cash FlowLast quarter
$46.6M
Free Cash FlowOCF − Capex
$30.3M
$2.0M
FCF MarginFCF / Revenue
6.2%
0.4%
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.

Operating Cash Flow
EYE
EYE
STUB
STUB
Q4 25
Q3 25
$46.6M
$181.4M
Q2 25
$54.3M
Q1 25
$32.2M
Q4 24
$30.3M
Q3 24
$27.9M
Q2 24
$51.5M
Q1 24
$24.0M
Free Cash Flow
EYE
EYE
STUB
STUB
Q4 25
$2.0M
Q3 25
$30.3M
$180.3M
Q2 25
$42.4M
Q1 25
$12.0M
Q4 24
$-1.7M
Q3 24
$4.1M
Q2 24
$31.9M
Q1 24
$4.0M
FCF Margin
EYE
EYE
STUB
STUB
Q4 25
0.4%
Q3 25
6.2%
38.5%
Q2 25
8.7%
Q1 25
2.4%
Q4 24
-0.4%
Q3 24
0.9%
Q2 24
7.1%
Q1 24
0.8%
Capex Intensity
EYE
EYE
STUB
STUB
Q4 25
Q3 25
3.4%
0.2%
Q2 25
2.4%
Q1 25
4.0%
Q4 24
7.3%
Q3 24
5.3%
Q2 24
4.3%
Q1 24
4.1%
Cash Conversion
EYE
EYE
STUB
STUB
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.

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