Alcon vs Baxter International
Alcon and Baxter International are similar in size: $10.40bn and $11.24bn of revenue in their latest fiscal years. Baxter International grew faster (5.7% against 4.9%). Alcon kept more of each dollar of sales as profit: a net margin of 9.4% against -8.5%.
| Latest fiscal year | AlconALC, 2025 | Baxter InternationalBAX, 2025 |
|---|---|---|
| Revenue | $10.40bn | $11.24bn |
| Revenue growth | 4.9% | 5.7% |
| Net income | $980m | −$957m |
| Operating margin | 13.1% | — |
| Net margin | 9.4% | -8.5% |
| Return on equity | 4.5% | -14.6% |
| Free cash flow | $1.73bn | $332m |
| Cash | $1.53bn | $1.97bn |
| Total debt | $4.74bn | $9.49bn |
| Debt to equity | 21.5% | — |
| Dividend per share | — | $0.52 |
| Dividend yield | 0.5% | 0.8% |
| Share buybacks | $676m | — |
| Employees | — | 37,500 |
| Market value | $36.00bn | $13.09bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | — | 52 (Moderate) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |