WallStSmart

National Vision Holdings Inc (EYE)vsUlta Beauty Inc (ULTA)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Ulta Beauty Inc generates 524% more annual revenue ($12.39B vs $1.99B). EYE leads profitability with a 149.0% profit margin vs 9.3%. ULTA trades at a lower P/E of 20.1x. ULTA earns a higher WallStSmart Score of 55/100 (C-).

EYE

Hold

48

out of 100

Grade: D+

Growth: 7.3Profit: 5.5Value: 3.0Quality: 6.0
Piotroski: 4/9Altman Z: 1.53

ULTA

Buy

55

out of 100

Grade: C-

Growth: 4.7Profit: 7.5Value: 7.3Quality: 6.3
Piotroski: 4/9Altman Z: 3.94
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

EYESignificantly Overvalued (-90.9%)

Margin of Safety

-90.9%

Fair Value

$14.77

Current Price

$28.06

$13.29 premium

UndervaluedFair: $14.77Overvalued
ULTASignificantly Overvalued (-291.5%)

Margin of Safety

-291.5%

Fair Value

$174.49

Current Price

$526.14

$351.65 premium

UndervaluedFair: $174.49Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

EYE4 strengths · Avg: 8.5/10
Profit MarginProfitability
149.0%10/10

Keeps 149 of every $100 in revenue as profit

Price/BookValuation
2.6x8/10

Reasonable price relative to book value

Revenue GrowthGrowth
15.1%8/10

15.1% revenue growth

EPS GrowthGrowth
20.7%8/10

Earnings expanding 20.7% YoY

ULTA2 strengths · Avg: 10.0/10
Return on EquityProfitability
43.6%10/10

Every $100 of equity generates 44 in profit

Altman Z-ScoreHealth
3.9410/10

Safe zone — low bankruptcy risk

Areas to Watch

EYE4 concerns · Avg: 3.0/10
Altman Z-ScoreHealth
1.534/10

Distress zone — elevated risk

Return on EquityProfitability
3.5%3/10

ROE of 3.5% — below average capital efficiency

Operating MarginProfitability
1.8%3/10

Operating margin of 1.8%

P/E RatioValuation
75.8x2/10

Premium valuation, high expectations priced in

ULTA3 concerns · Avg: 3.3/10
PEG RatioValuation
2.244/10

Expensive relative to growth rate

Price/BookValuation
8.3x4/10

Trading at 8.3x book value

EPS GrowthGrowth
-5.4%2/10

Earnings declined 5.4%

Comparative Analysis Report

WallStSmart Research

Bull Case : EYE

The strongest argument for EYE centers on Profit Margin, Price/Book, Revenue Growth. Profitability is solid with margins at 149.0% and operating margin at 1.8%. Revenue growth of 15.1% demonstrates continued momentum.

Bull Case : ULTA

The strongest argument for ULTA centers on Return on Equity, Altman Z-Score. Revenue growth of 11.8% demonstrates continued momentum.

Bear Case : EYE

The primary concerns for EYE are Altman Z-Score, Return on Equity, Operating Margin. A P/E of 75.8x leaves little room for execution misses.

Bear Case : ULTA

The primary concerns for ULTA are PEG Ratio, Price/Book, EPS Growth.

Key Dynamics to Monitor

EYE profiles as a growth stock while ULTA is a value play — different risk/reward profiles.

EYE carries more volatility with a beta of 1.42 — expect wider price swings.

EYE is growing revenue faster at 15.1% — sustainability is the question.

ULTA generates stronger free cash flow (907M), providing more financial flexibility.

Bottom Line

ULTA scores higher overall (55/100 vs 48/100) and 11.8% revenue growth. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

National Vision Holdings Inc

CONSUMER CYCLICAL · SPECIALTY RETAIL · USA

National Vision Holdings, Inc., is an optical retailer in the United States. The company is headquartered in Duluth, Georgia.

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Ulta Beauty Inc

CONSUMER CYCLICAL · SPECIALTY RETAIL · USA

Ulta Beauty, Inc., formerly known as Ulta Salon, Cosmetics & Fragrance Inc., is an American chain of beauty stores headquartered in Bolingbrook, Illinois. Ulta Beauty carries cosmetics and skincare brands, men's and women's fragrances, nail products, bath and body products, beauty tools and haircare products.

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