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Side-by-side financial comparison of National Vision Holdings, Inc. (EYE) and Walker & Dunlop, Inc. (WD). 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 $340.0M, roughly 1.4× Walker & Dunlop, Inc.). National Vision Holdings, Inc. runs the higher net margin — 0.7% vs -12.9%, a 13.6% gap on every dollar of revenue. On growth, National Vision Holdings, Inc. posted the faster year-over-year revenue change (7.9% vs -0.4%). National Vision Holdings, Inc. produced more free cash flow last quarter ($30.3M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% 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.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
EYE vs WD — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $487.3M | $340.0M |
| Net Profit | $3.4M | $-13.9M |
| Gross Margin | — | — |
| Operating Margin | 2.0% | -17.2% |
| Net Margin | 0.7% | -12.9% |
| Revenue YoY | 7.9% | -0.4% |
| Net Profit YoY | 139.8% | -131.0% |
| EPS (diluted) | $0.04 | $-0.41 |
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 | — | $340.0M | ||
| Q3 25 | $487.3M | $337.7M | ||
| Q2 25 | $486.4M | $319.2M | ||
| Q1 25 | $510.3M | $237.4M | ||
| Q4 24 | $437.3M | $341.5M | ||
| Q3 24 | $451.5M | $292.3M | ||
| Q2 24 | $451.7M | $270.7M | ||
| Q1 24 | $482.8M | $228.1M |
| Q4 25 | — | $-13.9M | ||
| Q3 25 | $3.4M | $33.5M | ||
| Q2 25 | $8.7M | $34.0M | ||
| Q1 25 | $14.2M | $2.8M | ||
| Q4 24 | $-28.6M | $44.8M | ||
| Q3 24 | $-8.5M | $28.8M | ||
| Q2 24 | $-3.1M | $22.7M | ||
| Q1 24 | $11.7M | $11.9M |
| Q4 25 | — | -17.2% | ||
| Q3 25 | 2.0% | 13.6% | ||
| Q2 25 | 3.4% | 14.5% | ||
| Q1 25 | 5.1% | 2.2% | ||
| Q4 24 | -5.8% | 15.3% | ||
| Q3 24 | -2.0% | 12.8% | ||
| Q2 24 | 0.1% | 10.4% | ||
| Q1 24 | 4.9% | 6.0% |
| Q4 25 | — | -12.9% | ||
| Q3 25 | 0.7% | 9.9% | ||
| Q2 25 | 1.8% | 10.6% | ||
| Q1 25 | 2.8% | 1.2% | ||
| Q4 24 | -6.5% | 13.1% | ||
| Q3 24 | -1.9% | 9.9% | ||
| Q2 24 | -0.7% | 8.4% | ||
| Q1 24 | 2.4% | 5.2% |
| Q4 25 | — | $-0.41 | ||
| Q3 25 | $0.04 | $0.98 | ||
| Q2 25 | $0.11 | $0.99 | ||
| Q1 25 | $0.18 | $0.08 | ||
| Q4 24 | $-0.36 | $1.32 | ||
| Q3 24 | $-0.11 | $0.85 | ||
| Q2 24 | $-0.04 | $0.67 | ||
| Q1 24 | $0.15 | $0.35 |
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 | $299.3M |
| Total DebtLower is stronger | $236.5M | — |
| Stockholders' EquityBook value | $858.8M | $1.7B |
| Total Assets | $2.0B | $5.1B |
| Debt / EquityLower = less leverage | 0.28× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $299.3M | ||
| Q3 25 | $56.0M | $274.8M | ||
| Q2 25 | $48.5M | $233.7M | ||
| Q1 25 | $80.0M | $181.0M | ||
| Q4 24 | $73.9M | $279.3M | ||
| Q3 24 | $81.2M | $179.8M | ||
| Q2 24 | $179.5M | $208.1M | ||
| Q1 24 | $150.1M | $216.5M |
| 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 | — | $1.7B | ||
| Q3 25 | $858.8M | $1.8B | ||
| Q2 25 | $850.6M | $1.8B | ||
| Q1 25 | $836.2M | $1.7B | ||
| Q4 24 | $816.3M | $1.7B | ||
| Q3 24 | $840.0M | $1.7B | ||
| Q2 24 | $843.4M | $1.7B | ||
| Q1 24 | $841.3M | $1.7B |
| Q4 25 | — | $5.1B | ||
| Q3 25 | $2.0B | $5.8B | ||
| Q2 25 | $2.0B | $4.7B | ||
| Q1 25 | $2.0B | $4.5B | ||
| Q4 24 | $2.0B | $4.4B | ||
| Q3 24 | $2.0B | $4.6B | ||
| Q2 24 | $2.1B | $4.2B | ||
| Q1 24 | $2.2B | $3.8B |
| 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 | $-664.3M |
| Free Cash FlowOCF − Capex | $30.3M | $-680.1M |
| FCF MarginFCF / Revenue | 6.2% | -200.0% |
| Capex IntensityCapex / Revenue | 3.4% | 4.6% |
| Cash ConversionOCF / Net Profit | 13.83× | — |
| TTM Free Cash FlowTrailing 4 quarters | $83.0M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-664.3M | ||
| Q3 25 | $46.6M | $-948.1M | ||
| Q2 25 | $54.3M | $-238.5M | ||
| Q1 25 | $32.2M | $-281.1M | ||
| Q4 24 | $30.3M | $129.4M | ||
| Q3 24 | $27.9M | $-202.0M | ||
| Q2 24 | $51.5M | $-237.8M | ||
| Q1 24 | $24.0M | $38.4M |
| Q4 25 | — | $-680.1M | ||
| Q3 25 | $30.3M | $-950.4M | ||
| Q2 25 | $42.4M | $-241.0M | ||
| Q1 25 | $12.0M | $-284.7M | ||
| Q4 24 | $-1.7M | $116.4M | ||
| Q3 24 | $4.1M | $-204.0M | ||
| Q2 24 | $31.9M | $-241.7M | ||
| Q1 24 | $4.0M | $35.2M |
| Q4 25 | — | -200.0% | ||
| Q3 25 | 6.2% | -281.5% | ||
| Q2 25 | 8.7% | -75.5% | ||
| Q1 25 | 2.4% | -120.0% | ||
| Q4 24 | -0.4% | 34.1% | ||
| Q3 24 | 0.9% | -69.8% | ||
| Q2 24 | 7.1% | -89.3% | ||
| Q1 24 | 0.8% | 15.4% |
| Q4 25 | — | 4.6% | ||
| Q3 25 | 3.4% | 0.7% | ||
| Q2 25 | 2.4% | 0.8% | ||
| Q1 25 | 4.0% | 1.5% | ||
| Q4 24 | 7.3% | 3.8% | ||
| Q3 24 | 5.3% | 0.7% | ||
| Q2 24 | 4.3% | 1.4% | ||
| Q1 24 | 4.1% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | 13.83× | -28.34× | ||
| Q2 25 | 6.22× | -7.02× | ||
| Q1 25 | 2.27× | -102.07× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | — | -7.01× | ||
| Q2 24 | — | -10.49× | ||
| Q1 24 | 2.05× | 3.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
