Alcon Inc. (ALC) P/E Ratio History
Deep ValueTrading at 32.7x · 0th percentile of 5-year range · Significant discount to historical valuation · Data 2021–2026
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P/E Ratio Analysis
As of June 22, 2026, Alcon Inc. (ALC) trades at a price-to-earnings ratio of 32.7x, with a stock price of $64.68 and trailing twelve-month earnings per share of $1.66.
The current P/E is 55% below its 5-year average of 72.4x. Over the past five years, ALC's P/E has ranged from a low of 35.5x to a high of 189.9x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Healthcare sector median P/E of 22.1x, ALC trades at a 48% premium to its sector peers. The sector includes 234 companies with P/E ratios ranging from 0.0x to 197.0x.
Relative to the broader market, ALC commands a significant premium over the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our ALC DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
ALC Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
ALC P/E vs Peers
Dental and vision care devices peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $9B | 24.4 | 7.75 | +7% | |
| $17B | 30.5 | - | -25% | |
| $45B | 43.0 | 3.01 | +23% | |
| $50B | 47.7 | 6.74 | -74% | |
| $20B | 25.5 | 2.25 | +28% | |
| $550B | 39.4 | - | -58% | |
| $154B | 11.6Lowest | 0.39Best | +134%Best | |
| $13B | 35.2 | - | -5% | |
| $4B | 92.5 | 61.97 | +104% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
ALC Historical P/E Data (2021–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $75.35 | $1.65 | 45.7x | -37% |
| FY2025 Q4 | Dec 31 2025 | $78.81 | $1.97 | 40.0x | -45% |
| FY2025 Q3 | - | $74.51 | $2.10 | 35.5x | -51% |
| FY2025 Q2 | Jun 30 2025 | $88.28 | $2.15 | 41.1x | -43% |
| FY2025 Q1 | Mar 31 2025 | $94.93 | $2.25 | 42.2x | -42% |
| FY2024 Q4 | - | $84.89 | $2.05 | 41.4x | -43% |
| FY2024 Q3 | Sep 30 2024 | $100.07 | $2.35 | 42.6x | -41% |
| FY2024 Q2 | Jun 30 2024 | $89.08 | $2.23 | 39.9x | -45% |
| FY2024 Q1 | Mar 31 2024 | $83.29 | $2.12 | 39.3x | -46% |
| FY2023 Q4 | Dec 31 2023 | $78.12 | $1.97 | 39.7x | -45% |
| FY2023 Q3 | Sep 30 2023 | $77.06 | $0.90 | 85.6x | +18% |
| FY2023 Q2 | Jun 30 2023 | $82.11 | $0.72 | 114.0x | +58% |
| FY2023 Q1 | Mar 31 2023 | $70.54 | $0.68 | 103.7x | +43% |
| FY2022 Q4 | Dec 31 2022 | $68.55 | $0.67 | 102.3x | +41% |
| FY2022 Q3 | Sep 30 2022 | $58.18 | $1.15 | 50.6x | -30% |
| FY2022 Q2 | - | $69.89 | $0.92 | 75.6x | +5% |
| FY2022 Q1 | - | $79.33 | $0.93 | 84.9x | +17% |
| FY2021 Q4 | Dec 31 2021 | $87.12 | $0.76 | 114.0x | +58% |
| FY2021 Q3 | - | $80.47 | $0.67 | 119.4x | +65% |
| FY2021 Q2 | Jun 30 2021 | $70.26 | $0.37 | 189.9x | +162% |
Average P/E for displayed period: 72.4x
Full Stock Analysis
Deep dive into ALC consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
5+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
ALC — Frequently Asked Questions
Quick answers to the most common questions about buying ALC stock.
What is ALC's P/E ratio?
Alcon Inc. (ALC) trailing twelve-month P/E ratio is 32.7x, based on TTM diluted EPS of $1.66. The 5-year average P/E is 72.4x and the historical range spans 35.5x to 189.9x.
Is ALC stock overvalued or undervalued?
ALC trades at 32.7x P/E, below its 5-year average of 72.4x. At the 0th percentile of its historical range (35.5x–189.9x), the stock is priced at a discount to its own history.
Is ALC stock expensive?
No, ALC is not expensive on a historical basis. The current P/E of 32.7x is below the 5-year average of 72.4x and sits at the 0th percentile of its valuation range.
What is ALC's historical P/E range?
Over the past 5 years, ALC's P/E ratio has ranged from 35.5x to 189.9x, with a median of 50.6x and an average of 72.4x. The current P/E of 32.7x places the stock at the 0th percentile of this range. Full historical data spans 2021–2026.
How does ALC's P/E compare to the S&P 500?
ALC trades at 32.7x P/E versus the S&P 500 median of 24.4x. The 34% premium to the market typically reflects higher expected earnings growth or quality.
How does ALC's valuation compare to Healthcare peers?
Alcon Inc. P/E of 32.7x compares to the Healthcare sector median of 22.1x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is ALC's PEG ratio?
ALC PEG ratio is N/A, based on a P/E of 32.7x and EPS growth of -3.4%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is ALC's earnings yield?
ALC earnings yield is 3.06%, the inverse of its 32.7x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.