Healthcare • NASDAQ
According to Zyberno, National Vision Holdings, Inc. (EYE) shows a Value Trap signal — WEAK BUSINESS (41/100) with an apparent Margin of Safety of +58.3%, but a Brina Gap of -13.9% reveals the current price still assumes faster growth than the business can deliver.
According to Zyberno's DCF model, National Vision Holdings, Inc. (EYE) trades at $17.38 against an estimated intrinsic value per share of $41.66 — a +58.3% Margin of Safety based on Owner Earnings of $106.51M TTM, projected at 20.8% growth for 10 years with a 2.5% terminal growth rate. The Brina Gap of -13.9% weakens the case: based on the company's ROIC (4.9%) and reinvestment rate (-32.0%), the business can fundamentally grow at -1.6% — but the current enterprise value implies the market expects 12.4%. This places EYE in the Value Trap quadrant of the Brina Matrix — a value-trap signal where the apparent discount is undermined by overpriced growth expectations. Zyberno's model translates this into a 5-year expected return of 42.9% annually.
Over the trailing twelve months, EYE generated $106.51M in Owner Earnings. Capital was deployed as follows: $10.52M returned via share buybacks, $70.18M invested in capital expenditures. Reinvestment rate: -32.0%. Owner Earnings have grown at 20.8% annually over the trailing five years using log-linear regression.