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Bausch & Lomb vs National Vision: revenue, profit, margins and growth compared

Bausch & Lomb brought in $5.1B of revenue in fiscal 2025, National Vision $2B in fiscal 2025. Revenue changed by +6.5% at Bausch & Lomb and +9.0% at National Vision on the year before, so National Vision grew faster. Bausch & Lomb kept -7.1% of its revenue as net profit, National Vision 1.5%. Free cash flow was -$66M at Bausch & Lomb and $73.5M at National Vision.

Side by side, latest fiscal year

BLCOEYE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (January 3, 2026)
Revenue$5.1B$2B
Revenue growth+6.5%+9.0%
Net income-$360M$29.6M
Net margin-7.1%1.5%
Free cash flow-$66M$73.5M
Free cash flow margin-1.3%3.7%
Earnings per share (diluted)-$1.02$0.37
Cash$383M$38.7M
Debt$5B$236.5M
Price to earningsn/a44.7
Market value$6B$1.3B
Dividend yieldn/an/a
Rank by revenue in sector#61 of 523 · Health care#110 of 523 · Health care

Over the years

Revenue
BLCO FY2020: $3.4BBLCO FY2022: $3.8BBLCO FY2022: $3.8BBLCO FY2023: $4.1BBLCO FY2024: $4.8BBLCO FY2025: $5.1BEYE FY2018: $1.5BEYE FY2019: $1.7BEYE FY2020: $1.7BEYE FY2021: $2.1BEYE FY2022: $1.6BEYE FY2023: $1.8BEYE FY2024: $1.8BEYE FY2025: $2BFY18FY19FY20FY21FY22FY23FY24FY25
BLCO $5.1BEYE $2B
Net income
BLCO FY2020: -$18MBLCO FY2022: $182MBLCO FY2022: $6MBLCO FY2023: -$260MBLCO FY2024: -$317MBLCO FY2025: -$360MEYE FY2018: $23.7MEYE FY2019: $32.8MEYE FY2020: $36.3MEYE FY2021: $128.2MEYE FY2022: $42.1MEYE FY2023: -$65.9MEYE FY2024: -$28.5MEYE FY2025: $29.6MFY18FY19FY20FY21FY22FY23FY24FY25
BLCO -$360MEYE $29.6M
Net margin
BLCO FY2020: -0.5%BLCO FY2022: 4.8%BLCO FY2022: 0.2%BLCO FY2023: -6.3%BLCO FY2024: -6.6%BLCO FY2025: -7.1%EYE FY2018: 1.5%EYE FY2019: 1.9%EYE FY2020: 2.1%EYE FY2021: 6.2%EYE FY2022: 2.6%EYE FY2023: -3.8%EYE FY2024: -1.6%EYE FY2025: 1.5%FY18FY19FY20FY21FY22FY23FY24FY25
BLCO -7.1%EYE 1.5%
Revenue growth
BLCO FY2022: +10.3%BLCO FY2022: +0.1%BLCO FY2023: +10.0%BLCO FY2024: +15.6%BLCO FY2025: +6.5%EYE FY2019: +12.2%EYE FY2020: -0.7%EYE FY2021: +21.5%EYE FY2022: -20.9%EYE FY2023: +6.8%EYE FY2024: +3.8%EYE FY2025: +9.0%FY19FY20FY21FY22FY23FY24FY25
BLCO +6.5%EYE +9.0%
Free cash flow
BLCO FY2020: $269MBLCO FY2022: $680MBLCO FY2022: $170MBLCO FY2023: -$198MBLCO FY2024: -$59MBLCO FY2025: -$66MEYE FY2018: $2.1MEYE FY2019: $63.8MEYE FY2020: $158.2MEYE FY2021: $163.4MEYE FY2022: $5.7MEYE FY2023: $58.3MEYE FY2024: $38.1MEYE FY2025: $73.5MFY18FY19FY20FY21FY22FY23FY24FY25
BLCO -$66MEYE $73.5M

Fiscal years as each company reports them; the two may end in different months.

Questions about Bausch & Lomb and National Vision

Which is bigger by revenue, Bausch & Lomb or National Vision?

Bausch & Lomb is bigger by revenue: $5.1B in fiscal 2025, against $2B for National Vision in fiscal 2025.

Which keeps more of its revenue as profit, Bausch & Lomb or National Vision?

Bausch & Lomb had a net margin of -7.1% in fiscal 2025; National Vision had 1.5% in fiscal 2025.

Which grew revenue faster, Bausch & Lomb or National Vision?

In their latest fiscal years revenue changed by +6.5% at Bausch & Lomb and +9.0% at National Vision.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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