ALC Healthcare

Alcon Inc.

$72.37-1.71%

Price as of close on Nov 3, 2026 · Financials updated Oct 31, 2026

Basics

Sector: Healthcare
Industry: Medical Instruments & Supplies
Country: Switzerland
Market cap: 35.0B USD
Enterprise value: 35.4B USD
Full-time employees: 25,000

Overall health

About average: profitability, growth, valuation and risk (debt, liquidity and share-price swings)profitability, growth, valuation and risk

Ranks #576 of 1,157 healthcare companies (top 50%)

See how it ranks against its peers

Worth knowing

Stock pay is large next to buybacks. Stock-based pay expense $492M vs $676M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Alcon recorded $492M of stock-based pay expense and spent $676M repurchasing shares (repurchases can include shares withheld to cover employees' taxes).Over three fiscal years Alcon recorded $492M of stock-based pay expense and spent $676M repurchasing shares.
Profits growing faster than sales. Since 2022: revenue +19%, operating profit +102%.
Since 2022, Alcon's revenue grew 19% while operating profit grew 102%: each extra dollar of sales is adding more profit.
Financials may be out of date. Latest financial period ended 10 months ago.
The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $6.8B in 2020 to $10.4B in 2025.
Alcon's fiscal-year revenue rose in each of the five years to 2025, from $6.8B to $10.4B.

StockQuotient Score

52/ 100

Oct 5 53 → Nov 4 52 (-1)

Valuation

Is the price right?

59/100

Moderate▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 60 → 59

Share price +4.2%-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Helped by:

▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.8%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value30% base weight · Z-score 0.89Sector median: 0.0148 · MAD: 0.0148

EBITDA yield6.2%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score 0.54Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield4.9%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield62.7%

SEC filings (IFRS mapped) · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

43/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 3.8%

Why

Held back by:

▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-2.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.40Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth6.1%

SEC filings (IFRS mapped) · 3 years to Dec 2025Reported value33% base weight · Z-score 0.03Sector median: 0.0584 · MAD: 0.0840

Revenue growth4.9%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.12Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

58/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Helped by:

▲ Operating margin
▲ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin13.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 0.49Sector median: 0.0706 · MAD: 0.1217

Return on assets3.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 0.27Sector median: 0.0166 · MAD: 0.0537

Return on invested capital4.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.05Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin55.2%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity4.4%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.73

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.30Sector median: 0.6250 · MAD: 0.3380

Current ratio2.12×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -0.34Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.21×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score 0.03Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Alcon

Is Alcon getting weaker?: Its latest SEC filing (Feb 24, 2026) showed no major changes. Its overall score is unchanged at 52/100 since Oct 28, 2026.
How is Alcon valued vs its peers?: Priced about in line with its peers. Valuation scores 59/100 against 1,393 healthcare peers. EBITDA yield 6.2% vs a peer median of 4.0% (stronger than 63% of peers).EBITDA yield 6.2% vs peers 4.0% (stronger than 63% of peers).
Is Alcon growing?: At about the same pace as its peers. Growth scores 43/100 against 1,393 healthcare peers. Earnings per share growth -2.3% vs a peer median of 9.8% (weaker than 61% of peers).Earnings per share growth -2.3% vs peers 9.8% (weaker than 61% of peers).
How profitable is Alcon?: About as profitable as its peers. Profitability scores 58/100 against 1,393 healthcare peers. Operating margin 13.1% vs a peer median of 7.1% (stronger than 67% of peers).Operating margin 13.1% vs peers 7.1% (stronger than 67% of peers).
How risky is Alcon?: Moderate risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Dec 31, 2025 · filed Feb 24, 2026 · compared with the quarter ended Jun 30, 2025

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	10.0B USD	10.4B USD	+3.8%
Net income (12 months)	1.1B USD	980.0M USD	−8.7%
Operating margin	14.4%	13.1%	−1.3 pts
Free cash flow (12 months)	1.6B USD	1.7B USD	+6.8%
Debt	4.7B USD	4.7B USD	−0.2%
Cash	1.4B USD	1.5B USD	+8.5%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	56.1%	54.5%	55.5%	55.6%	55.2%	▼ 0.4 pts
Operating margin	7.0%	7.7%	11.0%	14.3%	13.1%	▼ 1.2 pts
Net margin	4.5%	3.8%	10.3%	10.3%	9.4%	▼ 0.8 pts
Return on assets (ROA)	1.3%	1.1%	3.3%	3.4%	3.1%	▼ 0.2 pts
Return on equity (ROE)	2.0%	1.7%	4.7%	4.7%	4.4%	▼ 0.3 pts
Free cash flow margin	7.8%	6.7%	7.7%	16.2%	16.6%	▲ 0.4 pts
Current ratio	2.18×	1.90×	2.35×	2.77×	2.12×	▼ 24%
Quick ratio	1.41×	1.13×	1.39×	1.77×	1.33×	▼ 25%
Debt to equity	0.21×	0.24×	0.23×	0.22×	0.21×	▼ 0.2%
Interest coverage	4.83×	5.01×	5.50×	7.36×	6.67×	▼ 9.4%

ALC price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

BB Biotech AGBBZA.DE100/ 100

Arbutus Biopharma CorporationABUS97/ 100

Q32 Bio Inc.QTTB97/ 100

Bringing the fundamentals into focus…

Worth knowing

Stock pay is large next to buybacks. Stock-based pay expense $492M vs $676M spent repurchasing shares over the 3 fiscal years to 2025.

Over three fiscal years Alcon recorded $492M of stock-based pay expense and spent $676M repurchasing shares (repurchases can include shares withheld to cover employees' taxes).Over three fiscal years Alcon recorded $492M of stock-based pay expense and spent $676M repurchasing shares.

Profits growing faster than sales. Since 2022: revenue +19%, operating profit +102%.

Since 2022, Alcon's revenue grew 19% while operating profit grew 102%: each extra dollar of sales is adding more profit.

Financials may be out of date. Latest financial period ended 10 months ago.

The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $6.8B in 2020 to $10.4B in 2025.

Alcon's fiscal-year revenue rose in each of the five years to 2025, from $6.8B to $10.4B.

Questions investors ask about Alcon

Is Alcon getting weaker?

Its latest SEC filing (Feb 24, 2026) showed no major changes. Its overall score is unchanged at 52/100 since Oct 28, 2026.

How is Alcon valued vs its peers?

Priced about in line with its peers. Valuation scores 59/100 against 1,393 healthcare peers. EBITDA yield 6.2% vs a peer median of 4.0% (stronger than 63% of peers).EBITDA yield 6.2% vs peers 4.0% (stronger than 63% of peers).

Is Alcon growing?

At about the same pace as its peers. Growth scores 43/100 against 1,393 healthcare peers. Earnings per share growth -2.3% vs a peer median of 9.8% (weaker than 61% of peers).Earnings per share growth -2.3% vs peers 9.8% (weaker than 61% of peers).

How profitable is Alcon?

About as profitable as its peers. Profitability scores 58/100 against 1,393 healthcare peers. Operating margin 13.1% vs a peer median of 7.1% (stronger than 67% of peers).Operating margin 13.1% vs peers 7.1% (stronger than 67% of peers).

How risky is Alcon?

Moderate risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

10.0B USD

10.4B USD

+3.8%

Net income (12 months)

1.1B USD

980.0M USD

−8.7%

Operating margin

14.4%

13.1%

−1.3 pts

Free cash flow (12 months)

1.6B USD

1.7B USD

+6.8%

Debt

4.7B USD

4.7B USD

−0.2%

Cash

1.4B USD

1.5B USD

+8.5%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

56.1%

54.5%

55.5%

55.6%

55.2%

▼ 0.4 pts

Operating margin

7.0%

7.7%

11.0%

14.3%

13.1%

▼ 1.2 pts

Net margin

4.5%

3.8%

10.3%

9.4%

▼ 0.8 pts

Return on assets (ROA)

1.3%

1.1%

3.3%

3.4%

3.1%

▼ 0.2 pts

Return on equity (ROE)

2.0%

1.7%

4.7%

4.4%

▼ 0.3 pts

Free cash flow margin

7.8%

6.7%

7.7%

16.2%

16.6%

▲ 0.4 pts

Current ratio

2.18×

1.90×

2.35×

2.77×

2.12×

▼ 24%

Quick ratio

1.41×

1.13×

1.39×

1.77×

1.33×

▼ 25%

Debt to equity

0.21×

0.24×

0.23×

0.22×

0.21×

▼ 0.2%

Interest coverage

4.83×

5.01×

5.50×

7.36×

6.67×

▼ 9.4%