Alcon Inc. (ALC) 10-Year Financial Performance & Capital Metrics

ALC • • Industrial / General

HealthcareMedical InstrumentsOphthalmic Devices & Vision CareOphthalmic Surgical Equipment

AboutAlcon Inc., an eye care company, researches, develops, manufactures, distributes, and sells eye care products for eye care professionals and their patients worldwide. The company's Surgical segment offers equipment, instrumentation and diagnostics, intraocular lenses (IOLs), and other implantables; and consumables, including viscoelastics, surgical solutions, incisional instruments, surgical custom packs, and other products for use in surgical procedures. Its cataract products include centurion vision system, LenSx femtosecond laser, LuxOR surgical ophthalmic microscope, NGENUITY 3D visualization system, and ORA system for intra-operative measurements; custom pak surgical procedure packs; vitreoretinal products comprising constellation vision systems, procedure packs, lasers and hand-held microsurgical instruments, and grieshaber and MIVS instruments, as well as scissors, forceps and micro-instruments, medical grade vitreous tamponades, and Hypervit vitrectomy probes; refractive surgery products, including WaveLight lasers and Contoura Vision used for LASIK treatment; EX-PRESS glaucoma filtration device; and implantables products, including AcrySof IQ IOLs products include monofocal IOLs and advanced technology IOLs under the PanOptix and ReSTOR brands for the correction of presbyopia and astigmatism at the time of cataract surgery. Its Vision Care segment provides daily disposable, reusable, and color-enhancing contact lenses; ocular health products, such as dry eye, glaucoma, contact lens care, and ocular allergies; and ocular vitamins and redness relievers under the TOTAL, PRECISION, DAILIES AquaComfort PLUS, Air Optix, Opti-Free, Clear Care, Tears Naturale, Genteal, ICAPS, and Vitalux brands. The company was formerly known as Alcon Universal S.A. and changed the name to Alcon Inc. in December 2001. Alcon Inc. was founded in 1945 and is headquartered in Geneva, Switzerland.Show more

Revenue $9.91B +4.8%
EBITDA $2.64B +16.9%
Net Income $1.02B +4.5%
EPS (Diluted) 2.05 +4.6%
Gross Margin 55.62% +0.2%
EBITDA Margin 26.65% +11.5%
Operating Margin 14.26% +29.7%
Net Margin 10.27% -0.3%
ROE 4.83% -0.1%
ROIC 4.27% +32.6%
Debt/Equity 0.24 -4.3%
Interest Coverage 7.59 +38.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Weak 3Y average ROE of 3.8%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y5.71%

3Y6.13%

TTM4.34%

Profit (Net Income) CAGR

10Y-

5Y-

3Y39.38%

TTM-9.82%

EPS CAGR

10Y-

5Y-

3Y39.2%

TTM-10.64%

ROCE

10Y Avg1.15%

5Y Avg2.39%

3Y Avg3.86%

Latest5.11%

Peer Comparison

Ophthalmic Surgical Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ALCAlcon Inc.	39.13B	79.67	38.86	4.82%	10.28%	4.75%	3.6%	0.24

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	6.52B	6.6B	6.79B	7.15B	7.51B	6.83B	8.29B	8.72B	9.46B	9.91B
Revenue Growth %	-	0.01%	0.03%	0.05%	0.05%	-0.09%	0.21%	0.05%	0.08%	0.05%
Cost of Goods Sold+	3.39B	3.48B	3.59B	3.96B	3.85B	3.89B	3.64B	3.97B	4.21B	4.4B
COGS % of Revenue	0.52%	0.53%	0.53%	0.55%	0.51%	0.57%	0.44%	0.46%	0.45%	0.44%
Gross Profit+	3.12B	3.11B	3.2B	3.19B	3.66B	2.94B	4.65B	4.75B	5.25B	5.51B
Gross Margin %	0.48%	0.47%	0.47%	0.45%	0.49%	0.43%	0.56%	0.54%	0.55%	0.56%
Gross Profit Growth %	-	-0%	0.03%	-0%	0.15%	-0.2%	0.58%	0.02%	0.11%	0.05%
Operating Expenses+	2.72B	3.1B	3.28B	3.44B	3.85B	3.42B	4.07B	4.08B	4.21B	4.1B
OpEx % of Revenue	0.42%	0.47%	0.48%	0.48%	0.51%	0.5%	0.49%	0.47%	0.45%	0.41%
Selling, General & Admin	2.25B	2.53B	2.6B	2.8B	2.85B	2.69B	3.08B	3.07B	3.21B	3.25B
SG&A % of Revenue	0.34%	0.38%	0.38%	0.39%	0.38%	0.39%	0.37%	0.35%	0.34%	0.33%
Research & Development	440.56M	499M	584M	587M	656M	673M	842M	702M	859M	876M
R&D % of Revenue	0.07%	0.08%	0.09%	0.08%	0.09%	0.1%	0.1%	0.08%	0.09%	0.09%
Other Operating Expenses	33.67M	76M	101M	52M	346M	55M	154M	306M	140M	-27M
Operating Income+	401.12M	10M	-77M	-248M	-187M	-482M	580M	672M	1.04B	1.41B
Operating Margin %	0.06%	0%	-0.01%	-0.03%	-0.02%	-0.07%	0.07%	0.08%	0.11%	0.14%
Operating Income Growth %	-	-0.98%	-8.7%	-2.22%	0.25%	-1.58%	2.2%	0.16%	0.55%	0.36%
EBITDA+	1.61B	1.26B	1.24B	1.38B	1.28B	1.24B	1.8B	1.83B	2.26B	2.64B
EBITDA Margin %	0.25%	0.19%	0.18%	0.19%	0.17%	0.18%	0.22%	0.21%	0.24%	0.27%
EBITDA Growth %	-	-0.22%	-0.01%	0.11%	-0.07%	-0.03%	0.45%	0.02%	0.23%	0.17%
D&A (Non-Cash Add-back)	1.21B	1.25B	1.32B	1.63B	1.46B	1.72B	1.22B	1.16B	1.22B	1.23B
EBIT	354.95M	-82M	-101M	-274M	-206.28M	-542.6M	539.14M	616.59M	1.02B	1.45B
Net Interest Income+	-16.35M	-29.08M	-27M	-21.84M	-126.23M	-125.3M	-117.25M	-121.87M	-155M	-104.73M
Interest Income	961.92K	969.32K	0	1.99M	8.21M	6.37M	3.01M	16.52M	34M	81.45M
Interest Expense	17.31M	30.05M	27M	23.83M	134.44M	131.67M	120.26M	138.4M	189M	186.18M
Other Income/Expense	-63.49M	-123M	-50M	-52M	-145M	-153M	-162M	-209M	-207M	-157M
Pretax Income+	337.63M	-113M	-127M	-300M	-332M	-635M	418M	463M	832M	1.26B
Pretax Margin %	0.05%	-0.02%	-0.02%	-0.04%	-0.04%	-0.09%	0.05%	0.05%	0.09%	0.13%
Income Tax+	41.36M	57M	-383M	-73M	324M	-104M	42M	128M	-142M	238M
Effective Tax Rate %	0.88%	1.5%	-2.02%	0.76%	1.98%	0.84%	0.9%	0.72%	1.17%	0.81%
Net Income+	296.27M	-170M	256M	-227M	-656M	-531M	376M	335M	974M	1.02B
Net Margin %	0.05%	-0.03%	0.04%	-0.03%	-0.09%	-0.08%	0.05%	0.04%	0.1%	0.1%
Net Income Growth %	-	-1.57%	2.51%	-1.89%	-1.89%	0.19%	1.71%	-0.11%	1.91%	0.05%
Net Income (Continuing)	296.27M	-170M	256M	-227M	-656M	-531M	376M	335M	974M	1.02B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.61	-0.35	0.52	-0.46	-1.34	-1.09	0.76	0.68	1.96	2.05
EPS Growth %	-	-1.57%	2.49%	-1.88%	-1.91%	0.19%	1.7%	-0.11%	1.88%	0.05%
EPS (Basic)	0.61	-0.35	0.52	-0.46	-1.34	-1.09	0.77	0.68	1.98	2.06
Diluted Shares Outstanding	488.7M	488.7M	488.7M	488.7M	488.2M	489M	493.4M	494.4M	496.5M	497.5M
Basic Shares Outstanding	488.7M	488.7M	488.7M	488.7M	488.2M	489M	490M	491.4M	493M	494.4M
Dividend Payout Ratio	-	-	-	-	-	-	0.14%	0.31%	0.12%	0.13%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	2.97B	3.02B	3.29B	3.4B	4.24B	4.99B	5.39B	5.19B	5.65B	6.31B
Cash & Short-Term Investments	285M	162M	172M	258M	855M	1.57B	1.58B	980M	1.1B	1.83B
Cash Only	285M	162M	172M	227M	822M	1.56B	1.57B	980M	1.09B	1.68B
Short-Term Investments	0	0	0	31M	33M	12M	3M	0	7M	154M
Accounts Receivable	1.4B	1.4B	1.52B	1.41B	1.51B	1.47B	1.59B	1.99B	1.89B	2.08B
Days Sales Outstanding	78.29	77.64	81.58	71.74	73.51	78.42	70.13	83.28	72.81	76.68
Inventory	1.15B	1.21B	1.3B	1.44B	1.5B	1.64B	1.9B	2.11B	2.32B	2.27B
Days Inventory Outstanding	123.54	126.41	132.55	132.69	142.83	154.14	190.47	193.95	201.41	188.18
Other Current Assets	99M	200M	237M	249M	275M	213M	224M	8M	226M	12M
Total Non-Current Assets+	25.23B	24.72B	24.1B	23.66B	23.42B	22.61B	22.61B	24.02B	23.97B	24.04B
Property, Plant & Equipment	2.15B	2.29B	2.56B	2.88B	3.44B	3.78B	4.08B	4.42B	4.72B	4.84B
Fixed Asset Turnover	3.03x	2.88x	2.65x	2.48x	2.18x	1.81x	2.03x	1.97x	2.00x	2.05x
Goodwill	8.86B	8.89B	8.89B	8.9B	8.9B	8.9B	8.9B	8.97B	8.93B	8.95B
Intangible Assets	12.95B	12.37B	11.54B	10.68B	10.23B	9.1B	8.77B	9.69B	9.06B	8.59B
Long-Term Investments	332M	258M	51M	86M	59M	40M	52M	108M	319M	751M
Other Non-Current Assets	336M	269M	528M	450M	433M	389M	399M	422M	496M	495M
Total Assets+	28.2B	27.74B	27.39B	27.06B	27.66B	27.6B	28B	29.21B	29.61B	30.35B
Asset Turnover	0.23x	0.24x	0.25x	0.26x	0.27x	0.25x	0.30x	0.30x	0.32x	0.33x
Asset Growth %	-	-0.02%	-0.01%	-0.01%	0.02%	-0%	0.01%	0.04%	0.01%	0.02%
Total Current Liabilities+	1.64B	1.67B	1.78B	1.89B	2.3B	2.26B	2.47B	2.74B	2.4B	2.28B
Accounts Payable	493M	607M	672M	663M	833M	876M	903M	861M	811M	773M
Days Payables Outstanding	53.01	63.57	68.36	61.09	79.05	82.13	90.57	79.18	70.35	64.14
Short-Term Debt	218M	170M	65M	47M	261M	169M	107M	97M	48M	101M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	276M	231M	417M	490M	559M	532M	586M	907M	627.03M	539.16M
Current Ratio	1.81x	1.81x	1.85x	1.80x	1.84x	2.21x	2.18x	1.90x	2.35x	2.77x
Quick Ratio	1.11x	1.09x	1.12x	1.03x	1.19x	1.48x	1.41x	1.13x	1.39x	1.77x
Cash Conversion Cycle	148.82	140.48	145.77	143.34	137.28	150.42	170.03	198.05	203.87	200.72
Total Non-Current Liabilities+	2.92B	3.06B	2.58B	2.53B	6.05B	6.52B	6.27B	6.75B	6.59B	6.52B
Long-Term Debt	0	0	0	1.83B	3.22B	3.95B	3.97B	4.54B	4.68B	4.54B
Capital Lease Obligations	75M	79M	84M	89M	280M	315M	339M	359M	335M	429M
Deferred Tax Liabilities	0	0	1.64B	1.53B	1.39B	1.2B	1.03B	1.06B	797M	724M
Other Non-Current Liabilities	2.85B	2.98B	857M	-918M	1.17B	1.06B	940M	786M	752M	739M
Total Liabilities	4.57B	4.73B	4.36B	4.42B	8.35B	8.78B	8.74B	9.53B	8.99B	8.79B
Total Debt+	302M	249M	149M	136M	3.8B	4.5B	4.48B	5.07B	5.13B	5.14B
Net Debt	2M	87M	-23M	-91M	2.98B	2.94B	2.9B	4.09B	4.04B	3.45B
Debt / Equity	0.01x	0.01x	0.01x	0.01x	0.20x	0.24x	0.23x	0.26x	0.25x	0.24x
Debt / EBITDA	0.19x	0.20x	0.12x	0.10x	2.98x	3.62x	2.49x	2.77x	2.27x	1.94x
Net Debt / EBITDA	0.00x	0.07x	-0.02x	-0.07x	2.34x	2.37x	1.61x	2.23x	1.79x	1.31x
Interest Coverage	23.17x	0.33x	-2.85x	-10.41x	-1.39x	-3.66x	4.82x	4.86x	5.50x	7.59x
Total Equity+	23.64B	23.01B	23.03B	22.64B	19.3B	18.82B	19.26B	19.68B	20.62B	21.55B
Equity Growth %	-	-0.03%	0%	-0.02%	-0.15%	-0.02%	0.02%	0.02%	0.05%	0.05%
Book Value per Share	48.37	47.09	47.12	46.32	39.54	38.49	39.03	39.80	41.54	43.32
Total Shareholders' Equity	23.64B	23.01B	23.03B	22.64B	19.3B	18.82B	19.26B	19.68B	20.62B	21.55B
Common Stock	0	0	0	22.64B	20M	20M	20M	20M	20M	20M
Retained Earnings	23.81B	23.17B	22.94B	22.65B	-547M	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-173M	-154M	87M	-11M	19.28B	18.8B	19.24B	19.66B	20.6B	21.53B
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.32B	1.25B	1.22B	1.14B	920M	823M	1.34B	1.22B	1.39B	2.08B
Operating CF Margin %	0.2%	0.19%	0.18%	0.16%	0.12%	0.12%	0.16%	0.14%	0.15%	0.21%
Operating CF Growth %	-	-0.06%	-0.02%	-0.06%	-0.19%	-0.11%	0.63%	-0.1%	0.14%	0.5%
Net Income	296.27M	-170M	256M	-227M	-656M	-531M	376M	335M	974M	1.02B
Depreciation & Amortization	1.26B	1.29B	1.3B	1.62B	1.43B	1.62B	1.22B	1.12B	1.22B	1.23B
Stock-Based Compensation	65M	0	71M	93M	83M	105M	138M	140M	144M	150M
Deferred Taxes	0	57M	-383M	-73M	324M	-104M	42M	128M	-142M	238M
Other Non-Cash Items	-179.44M	79M	53M	-355M	-208M	-225M	-116M	13M	-377.78M	-368M
Working Capital Changes	-122M	-10M	-84M	80M	-48M	-45M	-314M	-522M	-431.22M	-189M
Change in Receivables	37M	-150M	-54M	53M	-115M	43M	-198M	-164M	-117.41M	-55M
Change in Inventory	-54M	-64M	-87M	-150M	-108M	-159M	-326M	-217M	-289.26M	-47M
Change in Payables	0	0	0	44M	84M	-21M	60M	-48M	-54.44M	-15M
Cash from Investing+	-517.51M	-843M	-679M	-1B	-1.01B	-572M	-1.2B	-1.86B	-1.09B	-1.17B
Capital Expenditures	-485.77M	-523.43M	-496M	-712M	-676M	-567M	-1.18B	-745M	-660M	-473M
CapEx % of Revenue	0.07%	0.08%	0.07%	0.1%	0.09%	0.08%	0.14%	0.09%	0.07%	0.05%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	3.85M	-14.57M	1M	0	-1M	-82M	-480M	-485M	-177.3M	-205M
Cash from Financing+	-796.47M	-435M	-539M	-78M	659M	466M	-123M	-8M	-211M	-322M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	-54.11M	-103.28M	-116M	-130M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-839.75M	-399.14M	-426.89M	-72.04M	-2.7B	-54M	16.11M	-62.72M	-39M	-55M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	832.06M	739M	722M	428M	244M	256M	165M	472M	537M	1.41B
FCF Margin %	0.13%	0.11%	0.11%	0.06%	0.03%	0.04%	0.02%	0.05%	0.06%	0.14%
FCF Growth %	-	-0.11%	-0.02%	-0.41%	-0.43%	0.05%	-0.36%	1.86%	0.14%	1.62%
FCF per Share	1.70	1.51	1.48	0.88	0.50	0.52	0.33	0.95	1.08	2.83
FCF Conversion (FCF/Net Income)	4.45x	-7.32x	4.76x	-5.02x	-1.40x	-1.55x	3.58x	3.63x	1.43x	2.04x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	1.25%	-0.73%	1.11%	-0.99%	-3.13%	-2.79%	1.97%	1.72%	4.83%	4.83%
Return on Invested Capital (ROIC)	1.27%	0.03%	-0.25%	-0.82%	-0.63%	-1.64%	1.98%	2.19%	3.22%	4.27%
Gross Margin	47.92%	47.16%	47.17%	44.62%	48.77%	43.03%	56.11%	54.47%	55.49%	55.62%
Net Margin	4.55%	-2.58%	3.77%	-3.17%	-8.74%	-7.77%	4.54%	3.84%	10.3%	10.27%
Debt / Equity	0.01x	0.01x	0.01x	0.01x	0.20x	0.24x	0.23x	0.26x	0.25x	0.24x
Interest Coverage	23.17x	0.33x	-2.85x	-10.41x	-1.39x	-3.66x	4.82x	4.86x	5.50x	7.59x
FCF Conversion	4.45x	-7.32x	4.76x	-5.02x	-1.40x	-1.55x	3.58x	3.63x	1.43x	2.04x
Revenue Growth	-	1.2%	2.97%	5.32%	4.96%	-8.99%	21.34%	5.14%	8.47%	4.82%

Revenue by Geography

	2019	2020	2021	2022	2023	2024
International Geographic Areas	-	-	-	-	-	5.33B
International Geographic Areas Growth	-	-	-	-	-	-
UNITED STATES	3.06B	2.98B	3.65B	3.9B	4.31B	4.51B
UNITED STATES Growth	-	-2.62%	22.72%	6.74%	10.65%	4.62%
Other Countries	3.22B	2.7B	3.4B	3.66B	3.88B	4.13B
Other Countries Growth	-	-16.10%	26.07%	7.40%	6.26%	6.36%
CHINA	377M	383M	486M	474M	526M	560M
CHINA Growth	-	1.59%	26.89%	-2.47%	10.97%	6.46%
JAPAN	656M	650M	621M	568M	583M	554M
JAPAN Growth	-	-0.91%	-4.46%	-8.53%	2.64%	-4.97%
SWITZERLAND	56M	55M	60M	59M	64M	79M
SWITZERLAND Growth	-	-1.79%	9.09%	-1.67%	8.47%	23.44%
Countries Other Than United States	4.31B	3.79B	4.57B	4.76B	5.06B	-
Countries Other Than United States Growth	-	-12.05%	20.67%	4.07%	6.33%	-

Frequently Asked Questions

Valuation & Price

Alcon Inc. (ALC) has a price-to-earnings (P/E) ratio of 38.9x. This suggests investors expect higher future growth.

Growth & Financials

Alcon Inc. (ALC) reported $10.19B in revenue for fiscal year 2024. This represents a 56% increase from $6.52B in 2015.

Alcon Inc. (ALC) grew revenue by 4.8% over the past year. Growth has been modest.

Yes, Alcon Inc. (ALC) is profitable, generating $1.05B in net income for fiscal year 2024 (10.3% net margin).

Dividend & Returns

Yes, Alcon Inc. (ALC) pays a dividend with a yield of 0.33%. This makes it attractive for income-focused investors.

Alcon Inc. (ALC) has a return on equity (ROE) of 4.8%. This is below average, suggesting room for improvement.

Alcon Inc. (ALC) generated $1.53B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Alcon Inc. (ALC) 10-Year Financial Performance & Capital Metrics

ALC • • Industrial / General

HealthcareMedical InstrumentsOphthalmic Devices & Vision CareOphthalmic Surgical Equipment

Revenue $9.91B +4.8%
EBITDA $2.64B +16.9%
Net Income $1.02B +4.5%
EPS (Diluted) 2.05 +4.6%
Gross Margin 55.62% +0.2%
EBITDA Margin 26.65% +11.5%
Operating Margin 14.26% +29.7%
Net Margin 10.27% -0.3%
ROE 4.83% -0.1%
ROIC 4.27% +32.6%
Debt/Equity 0.24 -4.3%
Interest Coverage 7.59 +38.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Weak 3Y average ROE of 3.8%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y5.71%

3Y6.13%

TTM4.34%

Profit (Net Income) CAGR

10Y-

5Y-

3Y39.38%

TTM-9.82%

EPS CAGR

10Y-

5Y-

3Y39.2%

TTM-10.64%

ROCE

10Y Avg1.15%

5Y Avg2.39%

3Y Avg3.86%

Latest5.11%

Peer Comparison

Ophthalmic Surgical Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ALCAlcon Inc.	39.13B	79.67	38.86	4.82%	10.28%	4.75%	3.6%	0.24

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	6.52B	6.6B	6.79B	7.15B	7.51B	6.83B	8.29B	8.72B	9.46B	9.91B
Revenue Growth %	-	0.01%	0.03%	0.05%	0.05%	-0.09%	0.21%	0.05%	0.08%	0.05%
Cost of Goods Sold+	3.39B	3.48B	3.59B	3.96B	3.85B	3.89B	3.64B	3.97B	4.21B	4.4B
COGS % of Revenue	0.52%	0.53%	0.53%	0.55%	0.51%	0.57%	0.44%	0.46%	0.45%	0.44%
Gross Profit+	3.12B	3.11B	3.2B	3.19B	3.66B	2.94B	4.65B	4.75B	5.25B	5.51B
Gross Margin %	0.48%	0.47%	0.47%	0.45%	0.49%	0.43%	0.56%	0.54%	0.55%	0.56%
Gross Profit Growth %	-	-0%	0.03%	-0%	0.15%	-0.2%	0.58%	0.02%	0.11%	0.05%
Operating Expenses+	2.72B	3.1B	3.28B	3.44B	3.85B	3.42B	4.07B	4.08B	4.21B	4.1B
OpEx % of Revenue	0.42%	0.47%	0.48%	0.48%	0.51%	0.5%	0.49%	0.47%	0.45%	0.41%
Selling, General & Admin	2.25B	2.53B	2.6B	2.8B	2.85B	2.69B	3.08B	3.07B	3.21B	3.25B
SG&A % of Revenue	0.34%	0.38%	0.38%	0.39%	0.38%	0.39%	0.37%	0.35%	0.34%	0.33%
Research & Development	440.56M	499M	584M	587M	656M	673M	842M	702M	859M	876M
R&D % of Revenue	0.07%	0.08%	0.09%	0.08%	0.09%	0.1%	0.1%	0.08%	0.09%	0.09%
Other Operating Expenses	33.67M	76M	101M	52M	346M	55M	154M	306M	140M	-27M
Operating Income+	401.12M	10M	-77M	-248M	-187M	-482M	580M	672M	1.04B	1.41B
Operating Margin %	0.06%	0%	-0.01%	-0.03%	-0.02%	-0.07%	0.07%	0.08%	0.11%	0.14%
Operating Income Growth %	-	-0.98%	-8.7%	-2.22%	0.25%	-1.58%	2.2%	0.16%	0.55%	0.36%
EBITDA+	1.61B	1.26B	1.24B	1.38B	1.28B	1.24B	1.8B	1.83B	2.26B	2.64B
EBITDA Margin %	0.25%	0.19%	0.18%	0.19%	0.17%	0.18%	0.22%	0.21%	0.24%	0.27%
EBITDA Growth %	-	-0.22%	-0.01%	0.11%	-0.07%	-0.03%	0.45%	0.02%	0.23%	0.17%
D&A (Non-Cash Add-back)	1.21B	1.25B	1.32B	1.63B	1.46B	1.72B	1.22B	1.16B	1.22B	1.23B
EBIT	354.95M	-82M	-101M	-274M	-206.28M	-542.6M	539.14M	616.59M	1.02B	1.45B
Net Interest Income+	-16.35M	-29.08M	-27M	-21.84M	-126.23M	-125.3M	-117.25M	-121.87M	-155M	-104.73M
Interest Income	961.92K	969.32K	0	1.99M	8.21M	6.37M	3.01M	16.52M	34M	81.45M
Interest Expense	17.31M	30.05M	27M	23.83M	134.44M	131.67M	120.26M	138.4M	189M	186.18M
Other Income/Expense	-63.49M	-123M	-50M	-52M	-145M	-153M	-162M	-209M	-207M	-157M
Pretax Income+	337.63M	-113M	-127M	-300M	-332M	-635M	418M	463M	832M	1.26B
Pretax Margin %	0.05%	-0.02%	-0.02%	-0.04%	-0.04%	-0.09%	0.05%	0.05%	0.09%	0.13%
Income Tax+	41.36M	57M	-383M	-73M	324M	-104M	42M	128M	-142M	238M
Effective Tax Rate %	0.88%	1.5%	-2.02%	0.76%	1.98%	0.84%	0.9%	0.72%	1.17%	0.81%
Net Income+	296.27M	-170M	256M	-227M	-656M	-531M	376M	335M	974M	1.02B
Net Margin %	0.05%	-0.03%	0.04%	-0.03%	-0.09%	-0.08%	0.05%	0.04%	0.1%	0.1%
Net Income Growth %	-	-1.57%	2.51%	-1.89%	-1.89%	0.19%	1.71%	-0.11%	1.91%	0.05%
Net Income (Continuing)	296.27M	-170M	256M	-227M	-656M	-531M	376M	335M	974M	1.02B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.61	-0.35	0.52	-0.46	-1.34	-1.09	0.76	0.68	1.96	2.05
EPS Growth %	-	-1.57%	2.49%	-1.88%	-1.91%	0.19%	1.7%	-0.11%	1.88%	0.05%
EPS (Basic)	0.61	-0.35	0.52	-0.46	-1.34	-1.09	0.77	0.68	1.98	2.06
Diluted Shares Outstanding	488.7M	488.7M	488.7M	488.7M	488.2M	489M	493.4M	494.4M	496.5M	497.5M
Basic Shares Outstanding	488.7M	488.7M	488.7M	488.7M	488.2M	489M	490M	491.4M	493M	494.4M
Dividend Payout Ratio	-	-	-	-	-	-	0.14%	0.31%	0.12%	0.13%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	2.97B	3.02B	3.29B	3.4B	4.24B	4.99B	5.39B	5.19B	5.65B	6.31B
Cash & Short-Term Investments	285M	162M	172M	258M	855M	1.57B	1.58B	980M	1.1B	1.83B
Cash Only	285M	162M	172M	227M	822M	1.56B	1.57B	980M	1.09B	1.68B
Short-Term Investments	0	0	0	31M	33M	12M	3M	0	7M	154M
Accounts Receivable	1.4B	1.4B	1.52B	1.41B	1.51B	1.47B	1.59B	1.99B	1.89B	2.08B
Days Sales Outstanding	78.29	77.64	81.58	71.74	73.51	78.42	70.13	83.28	72.81	76.68
Inventory	1.15B	1.21B	1.3B	1.44B	1.5B	1.64B	1.9B	2.11B	2.32B	2.27B
Days Inventory Outstanding	123.54	126.41	132.55	132.69	142.83	154.14	190.47	193.95	201.41	188.18
Other Current Assets	99M	200M	237M	249M	275M	213M	224M	8M	226M	12M
Total Non-Current Assets+	25.23B	24.72B	24.1B	23.66B	23.42B	22.61B	22.61B	24.02B	23.97B	24.04B
Property, Plant & Equipment	2.15B	2.29B	2.56B	2.88B	3.44B	3.78B	4.08B	4.42B	4.72B	4.84B
Fixed Asset Turnover	3.03x	2.88x	2.65x	2.48x	2.18x	1.81x	2.03x	1.97x	2.00x	2.05x
Goodwill	8.86B	8.89B	8.89B	8.9B	8.9B	8.9B	8.9B	8.97B	8.93B	8.95B
Intangible Assets	12.95B	12.37B	11.54B	10.68B	10.23B	9.1B	8.77B	9.69B	9.06B	8.59B
Long-Term Investments	332M	258M	51M	86M	59M	40M	52M	108M	319M	751M
Other Non-Current Assets	336M	269M	528M	450M	433M	389M	399M	422M	496M	495M
Total Assets+	28.2B	27.74B	27.39B	27.06B	27.66B	27.6B	28B	29.21B	29.61B	30.35B
Asset Turnover	0.23x	0.24x	0.25x	0.26x	0.27x	0.25x	0.30x	0.30x	0.32x	0.33x
Asset Growth %	-	-0.02%	-0.01%	-0.01%	0.02%	-0%	0.01%	0.04%	0.01%	0.02%
Total Current Liabilities+	1.64B	1.67B	1.78B	1.89B	2.3B	2.26B	2.47B	2.74B	2.4B	2.28B
Accounts Payable	493M	607M	672M	663M	833M	876M	903M	861M	811M	773M
Days Payables Outstanding	53.01	63.57	68.36	61.09	79.05	82.13	90.57	79.18	70.35	64.14
Short-Term Debt	218M	170M	65M	47M	261M	169M	107M	97M	48M	101M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	276M	231M	417M	490M	559M	532M	586M	907M	627.03M	539.16M
Current Ratio	1.81x	1.81x	1.85x	1.80x	1.84x	2.21x	2.18x	1.90x	2.35x	2.77x
Quick Ratio	1.11x	1.09x	1.12x	1.03x	1.19x	1.48x	1.41x	1.13x	1.39x	1.77x
Cash Conversion Cycle	148.82	140.48	145.77	143.34	137.28	150.42	170.03	198.05	203.87	200.72
Total Non-Current Liabilities+	2.92B	3.06B	2.58B	2.53B	6.05B	6.52B	6.27B	6.75B	6.59B	6.52B
Long-Term Debt	0	0	0	1.83B	3.22B	3.95B	3.97B	4.54B	4.68B	4.54B
Capital Lease Obligations	75M	79M	84M	89M	280M	315M	339M	359M	335M	429M
Deferred Tax Liabilities	0	0	1.64B	1.53B	1.39B	1.2B	1.03B	1.06B	797M	724M
Other Non-Current Liabilities	2.85B	2.98B	857M	-918M	1.17B	1.06B	940M	786M	752M	739M
Total Liabilities	4.57B	4.73B	4.36B	4.42B	8.35B	8.78B	8.74B	9.53B	8.99B	8.79B
Total Debt+	302M	249M	149M	136M	3.8B	4.5B	4.48B	5.07B	5.13B	5.14B
Net Debt	2M	87M	-23M	-91M	2.98B	2.94B	2.9B	4.09B	4.04B	3.45B
Debt / Equity	0.01x	0.01x	0.01x	0.01x	0.20x	0.24x	0.23x	0.26x	0.25x	0.24x
Debt / EBITDA	0.19x	0.20x	0.12x	0.10x	2.98x	3.62x	2.49x	2.77x	2.27x	1.94x
Net Debt / EBITDA	0.00x	0.07x	-0.02x	-0.07x	2.34x	2.37x	1.61x	2.23x	1.79x	1.31x
Interest Coverage	23.17x	0.33x	-2.85x	-10.41x	-1.39x	-3.66x	4.82x	4.86x	5.50x	7.59x
Total Equity+	23.64B	23.01B	23.03B	22.64B	19.3B	18.82B	19.26B	19.68B	20.62B	21.55B
Equity Growth %	-	-0.03%	0%	-0.02%	-0.15%	-0.02%	0.02%	0.02%	0.05%	0.05%
Book Value per Share	48.37	47.09	47.12	46.32	39.54	38.49	39.03	39.80	41.54	43.32
Total Shareholders' Equity	23.64B	23.01B	23.03B	22.64B	19.3B	18.82B	19.26B	19.68B	20.62B	21.55B
Common Stock	0	0	0	22.64B	20M	20M	20M	20M	20M	20M
Retained Earnings	23.81B	23.17B	22.94B	22.65B	-547M	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-173M	-154M	87M	-11M	19.28B	18.8B	19.24B	19.66B	20.6B	21.53B
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.32B	1.25B	1.22B	1.14B	920M	823M	1.34B	1.22B	1.39B	2.08B
Operating CF Margin %	0.2%	0.19%	0.18%	0.16%	0.12%	0.12%	0.16%	0.14%	0.15%	0.21%
Operating CF Growth %	-	-0.06%	-0.02%	-0.06%	-0.19%	-0.11%	0.63%	-0.1%	0.14%	0.5%
Net Income	296.27M	-170M	256M	-227M	-656M	-531M	376M	335M	974M	1.02B
Depreciation & Amortization	1.26B	1.29B	1.3B	1.62B	1.43B	1.62B	1.22B	1.12B	1.22B	1.23B
Stock-Based Compensation	65M	0	71M	93M	83M	105M	138M	140M	144M	150M
Deferred Taxes	0	57M	-383M	-73M	324M	-104M	42M	128M	-142M	238M
Other Non-Cash Items	-179.44M	79M	53M	-355M	-208M	-225M	-116M	13M	-377.78M	-368M
Working Capital Changes	-122M	-10M	-84M	80M	-48M	-45M	-314M	-522M	-431.22M	-189M
Change in Receivables	37M	-150M	-54M	53M	-115M	43M	-198M	-164M	-117.41M	-55M
Change in Inventory	-54M	-64M	-87M	-150M	-108M	-159M	-326M	-217M	-289.26M	-47M
Change in Payables	0	0	0	44M	84M	-21M	60M	-48M	-54.44M	-15M
Cash from Investing+	-517.51M	-843M	-679M	-1B	-1.01B	-572M	-1.2B	-1.86B	-1.09B	-1.17B
Capital Expenditures	-485.77M	-523.43M	-496M	-712M	-676M	-567M	-1.18B	-745M	-660M	-473M
CapEx % of Revenue	0.07%	0.08%	0.07%	0.1%	0.09%	0.08%	0.14%	0.09%	0.07%	0.05%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	3.85M	-14.57M	1M	0	-1M	-82M	-480M	-485M	-177.3M	-205M
Cash from Financing+	-796.47M	-435M	-539M	-78M	659M	466M	-123M	-8M	-211M	-322M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	-54.11M	-103.28M	-116M	-130M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-839.75M	-399.14M	-426.89M	-72.04M	-2.7B	-54M	16.11M	-62.72M	-39M	-55M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	832.06M	739M	722M	428M	244M	256M	165M	472M	537M	1.41B
FCF Margin %	0.13%	0.11%	0.11%	0.06%	0.03%	0.04%	0.02%	0.05%	0.06%	0.14%
FCF Growth %	-	-0.11%	-0.02%	-0.41%	-0.43%	0.05%	-0.36%	1.86%	0.14%	1.62%
FCF per Share	1.70	1.51	1.48	0.88	0.50	0.52	0.33	0.95	1.08	2.83
FCF Conversion (FCF/Net Income)	4.45x	-7.32x	4.76x	-5.02x	-1.40x	-1.55x	3.58x	3.63x	1.43x	2.04x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	1.25%	-0.73%	1.11%	-0.99%	-3.13%	-2.79%	1.97%	1.72%	4.83%	4.83%
Return on Invested Capital (ROIC)	1.27%	0.03%	-0.25%	-0.82%	-0.63%	-1.64%	1.98%	2.19%	3.22%	4.27%
Gross Margin	47.92%	47.16%	47.17%	44.62%	48.77%	43.03%	56.11%	54.47%	55.49%	55.62%
Net Margin	4.55%	-2.58%	3.77%	-3.17%	-8.74%	-7.77%	4.54%	3.84%	10.3%	10.27%
Debt / Equity	0.01x	0.01x	0.01x	0.01x	0.20x	0.24x	0.23x	0.26x	0.25x	0.24x
Interest Coverage	23.17x	0.33x	-2.85x	-10.41x	-1.39x	-3.66x	4.82x	4.86x	5.50x	7.59x
FCF Conversion	4.45x	-7.32x	4.76x	-5.02x	-1.40x	-1.55x	3.58x	3.63x	1.43x	2.04x
Revenue Growth	-	1.2%	2.97%	5.32%	4.96%	-8.99%	21.34%	5.14%	8.47%	4.82%

Revenue by Geography

	2019	2020	2021	2022	2023	2024
International Geographic Areas	-	-	-	-	-	5.33B
International Geographic Areas Growth	-	-	-	-	-	-
UNITED STATES	3.06B	2.98B	3.65B	3.9B	4.31B	4.51B
UNITED STATES Growth	-	-2.62%	22.72%	6.74%	10.65%	4.62%
Other Countries	3.22B	2.7B	3.4B	3.66B	3.88B	4.13B
Other Countries Growth	-	-16.10%	26.07%	7.40%	6.26%	6.36%
CHINA	377M	383M	486M	474M	526M	560M
CHINA Growth	-	1.59%	26.89%	-2.47%	10.97%	6.46%
JAPAN	656M	650M	621M	568M	583M	554M
JAPAN Growth	-	-0.91%	-4.46%	-8.53%	2.64%	-4.97%
SWITZERLAND	56M	55M	60M	59M	64M	79M
SWITZERLAND Growth	-	-1.79%	9.09%	-1.67%	8.47%	23.44%
Countries Other Than United States	4.31B	3.79B	4.57B	4.76B	5.06B	-
Countries Other Than United States Growth	-	-12.05%	20.67%	4.07%	6.33%	-

Frequently Asked Questions

Valuation & Price

Alcon Inc. (ALC) has a price-to-earnings (P/E) ratio of 38.9x. This suggests investors expect higher future growth.

Growth & Financials

Alcon Inc. (ALC) reported $10.19B in revenue for fiscal year 2024. This represents a 56% increase from $6.52B in 2015.

Alcon Inc. (ALC) grew revenue by 4.8% over the past year. Growth has been modest.

Yes, Alcon Inc. (ALC) is profitable, generating $1.05B in net income for fiscal year 2024 (10.3% net margin).

Dividend & Returns

Yes, Alcon Inc. (ALC) pays a dividend with a yield of 0.33%. This makes it attractive for income-focused investors.

Alcon Inc. (ALC) has a return on equity (ROE) of 4.8%. This is below average, suggesting room for improvement.

Alcon Inc. (ALC) generated $1.53B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.