Alcon Inc. (ALC) Financial Ratios
11 years of historical data (2015–2025) · Healthcare · Medical - Instruments & Supplies
EV/EBITDA
↓
13.66
↓-31% vs avg
5yr avg: 19.85
30Y Low16.8·High28.4
P/FCF
↓
18.02
↓-80% vs avg
5yr avg: 91.44
30Y Low22.6·High126.0
P/B Ratio
↓
1.44
↓-25% vs avg
5yr avg: 1.91
30Y Low1.4·High2.2
ROE
↑
4.5%
↓+26% vs avg
5yr avg: 3.6%
30Y Low-3%·High5%
Debt/EBITDA
↓
2.06
↓-11% vs avg
5yr avg: 2.31
30Y Low0.1·High3.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ALC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Alcon Inc. trades at 32.3x earnings, 52% below its 5-year average of 67.3x, sitting at the 0th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.3x, the stock trades at a premium of 45%. On a free-cash-flow basis, the stock trades at 18.0x P/FCF, 80% below the 5-year average of 91.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $31.1B | $39.1B | $42.2B | $38.8B | $33.9B | $43.0B | $32.3B | $27.6B | — | — | — |
| Enterprise Value | $34.9B | $42.8B | $45.7B | $42.8B | $38.0B | $45.9B | $35.2B | $30.6B | — | — | — |
| P/E Ratio → | 32.26 | 39.80 | 41.41 | 39.86 | 100.81 | 114.63 | — | — | — | — | — |
| P/S Ratio | 2.99 | 3.76 | 4.26 | 4.10 | 3.89 | 5.18 | 4.72 | 3.68 | — | — | — |
| P/B Ratio | 1.44 | 1.77 | 1.96 | 1.88 | 1.72 | 2.23 | 1.71 | 1.43 | — | — | — |
| P/FCF | 18.02 | 22.63 | 30.02 | 72.23 | 71.80 | 260.52 | 126.03 | 113.19 | — | — | — |
| P/OCF | 13.71 | 17.22 | 20.33 | 27.94 | 27.85 | 31.96 | 39.20 | 30.02 | — | — | — |
P/E links to full P/E history page with 30-year chart
ALC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Alcon Inc.'s enterprise value stands at 13.7x EBITDA, 31% below its 5-year average of 19.8x. The Healthcare sector median is 14.4x, placing the stock at a 5% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.12 | 4.61 | 4.53 | 4.36 | 5.53 | 5.15 | 4.08 | — | — | — |
| EV / EBITDA | 13.66 | 16.79 | 17.30 | 18.95 | 20.73 | 25.47 | 28.36 | 23.99 | — | — | — |
| EV / EBIT | 25.63 | 36.92 | 31.55 | 41.95 | 61.60 | 85.11 | — | — | — | — | — |
| EV / FCF | — | 24.78 | 32.47 | 79.75 | 80.46 | 278.12 | 137.51 | 125.41 | — | — | — |
ALC Profitability
Margins and return-on-capital ratios measuring operating efficiency
Alcon Inc. earns an operating margin of 13.1%. Operating margins have expanded from 11.0% to 13.1% over the past 3 years, signaling improving operational efficiency. ROE of 4.5% is modest. ROIC of 4.0% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 55.2% | 55.2% | 55.6% | 55.5% | 54.5% | 56.1% | 43.0% | 48.8% | 44.6% | 47.2% | 47.2% |
| Operating Margin | 13.1% | 13.1% | 14.3% | 11.0% | 7.7% | 7.0% | -7.1% | -2.5% | -3.5% | -1.1% | 0.2% |
| Net Profit Margin | 9.4% | 9.4% | 10.3% | 10.3% | 3.8% | 4.5% | -7.8% | -8.7% | -3.2% | 3.8% | -2.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.5% | 4.5% | 4.8% | 4.8% | 1.7% | 2.0% | -2.8% | -3.1% | -1.0% | 1.1% | -0.7% |
| ROA | 3.2% | 3.2% | 3.4% | 3.3% | 1.2% | 1.4% | -1.9% | -2.4% | -0.8% | 0.9% | -0.6% |
| ROIC | 4.0% | 4.0% | 4.3% | 3.2% | 2.2% | 2.0% | -1.6% | -0.6% | -0.8% | -0.3% | 0.0% |
| ROCE | 4.8% | 4.8% | 5.1% | 3.9% | 2.6% | 2.3% | -1.9% | -0.7% | -1.0% | -0.3% | 0.0% |
ALC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Alcon Inc. carries a Debt/EBITDA ratio of 2.1x, which is manageable (37% below the sector average of 3.3x). Net debt stands at $3.7B ($5.2B total debt minus $1.5B cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.24 | 0.24 | 0.24 | 0.25 | 0.26 | 0.23 | 0.24 | 0.20 | 0.01 | 0.01 | 0.01 |
| Debt / EBITDA | 2.06 | 2.06 | 1.94 | 2.27 | 2.77 | 2.49 | 3.62 | 2.98 | 0.10 | 0.12 | 0.20 |
| Net Debt / Equity | — | 0.17 | 0.16 | 0.20 | 0.21 | 0.15 | 0.16 | 0.15 | -0.00 | -0.00 | 0.00 |
| Net Debt / EBITDA | 1.46 | 1.46 | 1.31 | 1.79 | 2.23 | 1.61 | 2.37 | 2.34 | -0.07 | -0.02 | 0.07 |
| Debt / FCF | — | 2.15 | 2.45 | 7.53 | 8.66 | 17.60 | 11.48 | 12.22 | -0.21 | -0.03 | 0.12 |
| Interest Coverage | — | — | 7.78 | 5.40 | 4.46 | 4.48 | -4.12 | -1.53 | -11.50 | -3.74 | -2.73 |
ALC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Alcon Inc.'s current ratio of 2.12x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.33x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 2.35x to 2.12x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.12 | 2.12 | 2.77 | 2.35 | 1.90 | 2.18 | 2.21 | 1.84 | 1.80 | 1.85 | 1.81 |
| Quick Ratio | 1.33 | 1.33 | 1.77 | 1.39 | 1.13 | 1.41 | 1.48 | 1.19 | 1.03 | 1.12 | 1.09 |
| Cash Ratio | 0.53 | 0.53 | 0.80 | 0.46 | 0.36 | 0.64 | 0.69 | 0.37 | 0.14 | 0.10 | 0.10 |
| Asset Turnover | — | 0.33 | 0.33 | 0.32 | 0.30 | 0.30 | 0.25 | 0.27 | 0.26 | 0.25 | 0.24 |
| Inventory Turnover | 1.95 | 1.95 | 1.94 | 1.81 | 1.88 | 1.92 | 2.37 | 2.56 | 2.75 | 2.75 | 2.89 |
| Days Sales Outstanding | — | 68.15 | 76.68 | 72.81 | 83.28 | 70.13 | 78.42 | 73.51 | 71.74 | 81.58 | 77.64 |
ALC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Alcon Inc. returns 2.8% to shareholders annually — split between a 0.5% dividend yield and 2.3% buyback yield. The payout ratio of 16.9% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 3.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.5% | 0.4% | 0.3% | 0.3% | 0.3% | 0.1% | — | — | — | — | — |
| Payout Ratio | 16.9% | 16.9% | 12.8% | 11.9% | 30.8% | 14.4% | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.1% | 2.5% | 2.4% | 2.5% | 1.0% | 0.9% | — | — | — | — | — |
| FCF Yield | 5.6% | 4.4% | 3.3% | 1.4% | 1.4% | 0.4% | 0.8% | 0.9% | — | — | — |
| Buyback Yield | 2.3% | 1.8% | 0.0% | 0.1% | 0.1% | 0.1% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 2.8% | 2.3% | 0.3% | 0.4% | 0.5% | 0.2% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $496M | $498M | $497M | $494M | $493M | $489M | $488M | $489M | $489M | $489M |
Peer Comparison
Compare ALC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ALCYou | $31B | 32.3 | 13.7 | 18.0 | 55.2% | 13.1% | 4.5% | 4.0% | 2.1 |
 BAX | $9B | -10.0 | 25.4 | 28.0 | 30.1% | -2.7% | -14.6% | -1.4% | 14.9 |
 HSIC | $8B | 21.6 | 10.9 | 14.1 | 29.1% | 5.7% | 8.3% | 7.1% | 3.4 |
 HOLX | $17B | 30.5 | 17.4 | 18.4 | 61.0% | 17.4% | 11.1% | 9.4% | 2.6 |
 IDXX | $45B | 43.7 | 31.6 | 43.1 | 61.8% | 31.6% | 66.2% | 42.5% | 0.7 |
 EW | $48B | 45.2 | 25.4 | 35.7 | 78.1% | 27.0% | 10.5% | 15.5% | 0.4 |
 STE | $21B | 34.5 | 17.2 | 27.0 | 44.0% | 15.9% | 9.5% | 7.2% | 1.6 |
 JNJ | $536B | 38.4 | 18.6 | 27.0 | 69.1% | 24.9% | 20.1% | 20.7% | 1.2 |
 ABT | $151B | 11.4 | 15.8 | 23.8 | 50.8% | 16.3% | 30.9% | 9.9% | 1.5 |
 COO | $12B | 32.7 | 13.2 | 27.6 | 60.7% | 16.7% | 4.6% | 4.8% | 2.5 |
 NVST | $4B | 86.7 | 13.3 | 17.5 | 55.0% | 8.3% | 1.6% | 4.8% | 5.0 |
| Healthcare Median | — | 22.3 | 14.4 | 18.5 | 63.9% | -5.2% | -33.7% | -11.2% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 11 years · Updated daily
Full ALC Stock Analysis
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Start ComparisonALC — Frequently Asked Questions
Quick answers to the most common questions about buying ALC stock.
What is Alcon Inc.'s P/E ratio?
Alcon Inc.'s current P/E ratio is 32.3x. The historical average is 67.3x.
What is Alcon Inc.'s EV/EBITDA?
Alcon Inc.'s current EV/EBITDA is 13.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.7x.
What is Alcon Inc.'s ROE?
Alcon Inc.'s return on equity (ROE) is 4.5%. The historical average is 1.1%.
Is ALC stock overvalued?
Based on historical data, Alcon Inc. is trading at a P/E of 32.3x. Compare with industry peers and growth rates for a complete picture.
What is Alcon Inc.'s dividend yield?
Alcon Inc.'s current dividend yield is 0.52% with a payout ratio of 16.9%.
What are Alcon Inc.'s profit margins?
Alcon Inc. has 55.2% gross margin and 13.1% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Alcon Inc. have?
Alcon Inc.'s Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.