ALC

MKT CAP:$37B

Alcon Inc.

Market Cap

$37B

Healthcare·Medical - Instruments & Supplies·🇨🇭 Switzerland·NYSE

Healthcare·Medical·🇨🇭·NYSE

Stock Price

$75.70-$1.89 (-2.44%)

Apr 24, 2026

Company Details

Alcon 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 diag...

CEO

David J. Endicott

IPO Date

Apr 9, 2019

Website

www.alcon.com

Key Metrics TTM

Revenue

$10.4B

+6.9% YoY

Net Income

$980M

EPS (Diluted)

$1.97

Free Cash Flow

$1.7B

Revenue / Share

$21.13

Gross Margin

54.8%

Operating Margin

13.1%

Net Margin

9.4%

FCF Margin

16.4%

P/S

3.5x

P/E

37.6x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 24, 2026

$10.4B+4.9%EPS $1.98

Q4 2025

Feb 24, 2026

$2.7BEPS $0.44

Q3 2025

Nov 12, 2025

$2.6BEPS $0.48

Q2 2025

Aug 19, 2025

$2.6B+4.0%EPS $0.35

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$1.9B	$1.0B	$149M
Q2 21	$2.1B	$1.2B	$229M
Q3 21	$2.1B	$1.2B	$20M
Q4 21	$2.1B	$1.2B	$182M
Q1 22	$2.2B	$1.2B	$246M
Q2 22	$2.2B	$1.2B	$200M
Q3 22	$2.1B	$1.2B	$205M
Q4 22	$2.2B	$1.2B	$21M
Q1 23	$2.4B	$1.3B	$268M
Q2 23	$2.4B	$1.4B	$270M
Q1 24	$2.5B	$1.4B	$368M
Q2 24	$2.5B	$1.4B	$318M
Q1 25	$2.5B	$1.4B	$468M
Q2 25	$2.6B	$1.4B	$247M
Q3 25	$2.6B	$1.5B	$332M
Q4 25	$2.7B	$1.5B	$313M

Valuation

Quarter	P/S	P/E
Q1 21	5.0x	—
Q2 21	4.4x	187.9x
Q3 21	5.1x	123.0x
Q4 21	5.2x	113.8x
Q1 22	4.5x	82.8x
Q2 22	3.9x	74.7x
Q3 22	3.4x	51.2x
Q4 22	4.0x	105.1x
Q1 23	3.9x	100.4x
Q2 23	4.4x	110.4x
Q1 24	4.3x	82.1x
Q2 24	4.5x	53.5x
Q1 25	4.8x	47.4x
Q2 25	4.4x	43.8x
Q3 25	3.6x	37.2x
Q4 25	3.8x	40.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	$156M	$34M
Q2 21	$386M	-$125M
Q3 21	$416M	$214M
Q4 21	$387M	$42M
Q1 22	$66M	-$64M
Q2 22	$404M	$274M
Q3 22	$402M	$172M
Q4 22	$345M	$90M
Q1 23	$85M	-$19M
Q2 23	$324M	$103M
Q1 24	$341M	$198M
Q2 24	$530M	$410M
Q1 25	$384M	$278M
Q2 25	$505M	$403M
Q3 25	$699M	$539M
Q4 25	$658M	$489M

Capital Expenditures

Quarter	CapEx
Q1 21	$122M
Q2 21	$511M
Q3 21	$202M
Q4 21	$345M
Q1 22	$130M
Q2 22	$130M
Q3 22	$230M
Q4 22	$255M
Q1 23	$104M
Q2 23	$221M
Q1 24	$143M
Q2 24	$120M
Q1 25	$106M
Q2 25	$102M
Q3 25	$160M
Q4 25	$169M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+4.8%	-4.7%
Q2 21	+73.8%	+12.0%
Q3 21	+14.4%	+5.8%
Q4 21	+10.8%	+9.3%
Q1 22	+13.4%	+9.1%
Q2 22	+5.1%	+7.2%
Q3 22	+1.8%	-7.1%
Q4 22	+1.0%	+9.3%
Q1 23	+7.4%	+7.3%
Q2 23	+9.2%	+6.7%
Q1 24	+14.9%	+8.1%
Q2 24	+15.0%	+1.3%
Q1 25	+5.1%	-3.8%
Q2 25	+7.2%	+9.2%
Q3 25	+6.3%	+9.1%
Q4 25	+8.9%	+10.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$27M	1.4%
Q2 21	$41M	1.9%
Q3 21	$33M	1.6%
Q4 21	$37M	1.7%
Q1 22	$34M	1.6%
Q2 22	$36M	1.6%
Q3 22	$33M	1.5%
Q4 22	$37M	1.7%
Q1 23	$40M	1.7%
Q2 23	$34M	1.4%
Q1 24	$43M	1.7%
Q2 24	$34M	1.4%
Q1 25	$39M	1.6%
Q2 25	$38M	1.5%
Q3 25	$0	0.0%
Q4 25	-$118M	-4.3%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 21	$166M	$666M
Q2 21	$178M	$785M
Q3 21	$318M	$779M
Q4 21	$219M	$813M
Q1 22	$166M	$741M
Q2 22	$181M	$803M
Q3 22	$159M	$762M
Q4 22	$236M	$762M
Q1 23	$202M	$785M
Q2 23	$217M	$832M
Q1 24	$199M	$802M
Q2 24	$220M	$837M
Q1 25	$222M	$813M
Q2 25	$245M	$870M
Q3 25	$250M	$865M
Q4 25	$273M	$901M

Revenue by Geography

Quarter	International Geographic Areas	United States
Q2 21	$1.1B	$958M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$961M	$0	$961M
Q2 22	$1.0B	$0	$1.0B
Q3 22	$1.2B	$0	$1.2B
Q4 22	$980M	$0	$980M
Q1 23	$887M	$0	$887M
Q2 23	$660M	$0	$660M
Q3 23	$1.1B	$999.2K	$1.1B
Q4 23	$1.1B	$7M	$1.1B
Q1 24	$1.1B	$0	$1.1B
Q2 24	$1.4B	$2M	$1.4B
Q3 24	$1.6B	$420M	$2.0B
Q4 24	$1.7B	$154M	$1.8B
Q1 25	$1.4B	$0	$1.4B
Q2 25	$1.4B	$0	$1.4B
Q3 25	$1.5B	$0	$1.5B
Q4 25	$1.5B	$80M	$1.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	493M	+0.1%	+0.9%
Q2 21	493M	+0.1%	+0.9%
Q3 21	494M	+0.1%	+1.0%
Q4 21	494M	+0.1%	+0.4%
Q1 22	494M	-0.0%	+0.2%
Q2 22	494M	+0.1%	+0.2%
Q3 22	495M	+0.1%	+0.2%
Q4 22	492M	-0.6%	-0.5%
Q1 23	496M	+0.8%	+0.3%
Q2 23	496M	+0.0%	+0.3%
Q1 24	497M	+0.2%	+0.4%
Q2 24	497M	+0.1%	+1.1%
Q1 25	498M	+0.2%	+0.5%
Q2 25	498M	-0.0%	+0.4%
Q3 25	496M	-0.4%	-0.1%
Q4 25	492M	-0.7%	-0.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	$81.6K	24K
Q2 21	$89.2K	24K
Q3 21	$88.9K	24K
Q4 21	$88.1K	24K
Q1 22	$89.8K	24K
Q2 22	$90.9K	24K
Q3 22	$87.7K	24K
Q4 22	$86.2K	25K
Q1 23	$93.4K	25K
Q2 23	$96.2K	25K
Q1 24	$97.1K	25K
Q2 24	$98.6K	25K
Q1 25	$96.6K	26K
Q2 25	$101.4K	26K
Q3 25	$102.1K	26K
Q4 25	$108.7K	25K

Revenue / Employee