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Alcon Inc (ALC) stock

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NYSE: ALC NYSE Health Care Equipment Next results ~November 10, 2026

B Fundamentals grade

Alcon Inc is a US-listed company in the health care equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$58

Cash-flow model

Base case. Range ~$42–$79 across our lower- and higher-growth cases (0.5%–10.5% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 27% above our base value.

Price used: $73.63, November 2, 2026

Alcon Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Alcon files

Where Alcon stands after its latest Filing

Revenue for the twelve months was $10.4bn, up 4.9% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin rose to 16.6% from 7.8% a year earlier. Operating margin widened to 13.1% from 7.0%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 5 of our 7 financial-health checks. Our cash-flow model value is $58.18 a share, against a share price of $71.45. At that price, our model says the market is pricing in about 8.8% a year of cash-flow growth for five years, close to the 8.8% a year revenue growth it has delivered.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 10, 2026 (estimated)

Alcon Inc's trailing-twelve-month revenue grew 4.9% year on year, with a free-cash-flow margin of 16.6%. Where it stands out: free-cash-flow margin of 16.6% ranks 18 of 128 health care equipment companies we cover.

Our discounted-cash-flow model values the business at ~$58 per share in the base case (~$42–$79 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free-cash-flow margin near historical high: TTM FCF margin of 16.6% is above every prior reading in its 8-quarter history.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Alcon Inc's latest figures clears our strength thresholds.

Things to watch

  • Priced above our value. The share price of $73.63 is 21% above our value per share of $58.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results

Earnings per share
$0.84 against an average estimate of $0.76: beat by 11.2%
Next report
November 10, 2026; average EPS estimate $0.89

Alcon's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.1%
  • 1 week+5.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$10.4B
Operating margin
13.1%
Net margin
9.4%
EPS (TTM, diluted)
$1.98

Growth

Revenue growth
+4.9%
Change in growth rate
+0.1 pts
Share count change
−0.3%

Cash

Free cash flow (TTM)
$1.7B
FCF margin
16.6%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for ALC from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Alcon Inc valuation models and calculator

What the price is pricing in

The share price implies about 9.1% a year of cash-flow growth for five years.That is close to the 8.8% a year revenue growth Alcon has delivered.

  • Priced in9.1%
  • Last 12 months4.9%
  • 3 years a year6.1%
  • 5 years a year8.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($72.65, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$58
Price used
$72.65close November 3, 2026
Implied change
▼ 20%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Alcon Inc's free cash flow after stock-based pay with after-tax interest added back ($1.6B, FY2025 Q4 TTM), growing 5.5% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$42–~$79 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Alcon Inc's free cash flow after stock-based pay ( $1.6B, FY2025 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Alcon Inc as an operating company, with every model that fits that kind of business. Cost of equity 9.5%: the 10-year Treasury yield (4.9%) plus a beta of 1 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$58 ~$42–$79 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$65 ~$57–$100 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$18 ~$12–$29 Left out: far from the other models (more than 3x away from their median)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$3.9 ~$3.4–$4.7 Left out: out of range vs price (0.05x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$61 ~$58–$65 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Alcon Inc with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −27%
  • Revenue growth 5 points higher ▲ +36%
  • Free-cash-flow margin 1 point lower ▼ −6%
  • Last year's free-cash-flow margin change, if it persists ▲ +3%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $40$56$78$106$144$192
8.5% $29$41$56$77$104$138
10% $22$31$44$59$80$106

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 10, 2026, after the close. Analysts expect revenue of $2.7bn and EPS of $0.89 (range $0.85 to $0.96) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.50 +14% $11.1bn +7%
Next $3.95 +13% $11.8bn +6%

Next year's EPS estimate has moved −0.4% in 90 days, across 26 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.9% on 90 days ago. In the last 30 days, 2 analysts raised Alcon Inc's forecast and 3 cut it.

Consensus EPS forecast Alcon Inc, last 90 days
$3.40 $3.60 $3.80 $4.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.47 Current fiscal year, 60 days ago: $3.50 Current fiscal year, 30 days ago: $3.49 Current fiscal year, 7 days ago: $3.50 Current fiscal year, Now: $3.50 $3.50 Next fiscal year, 90 days ago: $3.97 Next fiscal year, 60 days ago: $3.98 Next fiscal year, 30 days ago: $3.97 Next fiscal year, 7 days ago: $3.96 Next fiscal year, Now: $3.95 $3.95

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.47$3.97
60 days ago $3.50$3.98
30 days ago $3.49$3.97
7 days ago $3.50$3.96
Now $3.50$3.95

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.76 $0.84 +11.2%
Mar 2026 $0.82 $0.85 +4.1%
Dec 2025 $0.87 $0.78 −10.3%
Sept 2025 $0.85 $0.79 −7.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

27 analysts, Nov 2026
Buy2178%
Hold519%
Sell14%

Monthly trend

  1. Nov 2026417527
  2. Oct 2026417426
  3. Sep 2026317526

Counts of recommendations published by analysts covering Alcon Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
—
of tradable shares
Days to cover
10.62
at average volume
Short interest, 1 month
+12%
to October 15, 2026
Held by institutions
63%
of shares
Held by insiders
0.2%
of shares
Employees
25,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Options strategies

All options ideas

How Alcon Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Not enough history

There is not enough price history to measure realised volatility.

  • Puts and calls are priced at about the same implied volatility.
  • Why: not enough price history to measure realised volatility.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

ALC Alcon Inc Grade B $73.75

Own 100 shares, sell the $80.00 call expiring December 18, 2026 (46 days) for $1.35 a share — $135 per contract.

Previous session · Bid $1.35, ask $1.60, quoted Mon 2 Nov, 17:14 New York time with ALC at $73.75. Option prices move with the shares: check the live chain at your broker before trading.

  • If ALC ends below $80.00: you keep your shares and the $135 — 1.8% extra on the position, 14.5% a year at that pace.
  • If it ends above $80.00: your shares are sold at $80.00, a total return of 10.3% including the premium — at or above our value of ~$58.
$760 $0 −$1.4k Our value $58.00 Break-even $72.40 Price $73.75
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$135
Annualised
14.5%
Break-even
$72.40
Max gain
$760
Chance of selling
~30%

Collar

Own the shares, buy the $67.50 put and sell the $80.00 call, both expiring December 18, 2026 (46 days).

  • Net cost of $0.05 a share ($5.00 per contract of 100 shares).
  • Worst case at expiry: -8.5%, if the shares fall below $67.50 (-8.5% from today).
  • Best case at expiry: +8.4%, if the shares rise above $80.00 (+8.5%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $58.00: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Alcon Inc in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Alcon Inc
$6B $7B $8B $9B $10B $11B FY17 Q4 FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Revenue (TTM), FY17 Q4: $6.8B Revenue (TTM), FY18 Q4: $7.2B Revenue (TTM), FY19 Q4: $7.5B Revenue (TTM), FY20 Q4: $6.8B Revenue (TTM), FY21 Q4: $8.3B Revenue (TTM), FY22 Q4: $8.7B Revenue (TTM), FY23 Q4: $9.5B Revenue (TTM), FY24 Q4: $9.9B Revenue (TTM), FY25 Q4: $10.4B $10.4B

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue (TTM)
FY17 Q4 $6.8B
FY18 Q4 $7.2B
FY19 Q4 $7.5B
FY20 Q4 $6.8B
FY21 Q4 $8.3B
FY22 Q4 $8.7B
FY23 Q4 $9.5B
FY24 Q4 $9.9B
FY25 Q4 $10.4B
Revenue growth, TTM YoY Alcon Inc
-10% 0% 10% 20% 30% FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Revenue growth, TTM YoY, FY18 Q4: 5.3% Revenue growth, TTM YoY, FY19 Q4: 5.0% Revenue growth, TTM YoY, FY20 Q4: -9.0% Revenue growth, TTM YoY, FY21 Q4: 21.3% Revenue growth, TTM YoY, FY22 Q4: 5.1% Revenue growth, TTM YoY, FY23 Q4: 8.5% Revenue growth, TTM YoY, FY24 Q4: 4.8% Revenue growth, TTM YoY, FY25 Q4: 4.9% 4.9%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue growth, TTM YoY
FY18 Q4 5.3%
FY19 Q4 5.0%
FY20 Q4 -9.0%
FY21 Q4 21.3%
FY22 Q4 5.1%
FY23 Q4 8.5%
FY24 Q4 4.8%
FY25 Q4 4.9%
Operating margin (TTM) Alcon Inc
-10% 0% 10% 20% FY17 Q4 FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Operating margin (TTM), FY17 Q4: -1.1% Operating margin (TTM), FY18 Q4: -3.5% Operating margin (TTM), FY19 Q4: -2.5% Operating margin (TTM), FY20 Q4: -7.1% Operating margin (TTM), FY21 Q4: 7.0% Operating margin (TTM), FY22 Q4: 7.7% Operating margin (TTM), FY23 Q4: 11.0% Operating margin (TTM), FY24 Q4: 14.3% Operating margin (TTM), FY25 Q4: 13.1% 13.1%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Operating margin (TTM)
FY17 Q4 -1.1%
FY18 Q4 -3.5%
FY19 Q4 -2.5%
FY20 Q4 -7.1%
FY21 Q4 7.0%
FY22 Q4 7.7%
FY23 Q4 11.0%
FY24 Q4 14.3%
FY25 Q4 13.1%
FCF margin (TTM) Alcon Inc
0% 5% 10% 15% 20% FY17 Q4 FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 FCF margin (TTM), FY17 Q4: 11.8% FCF margin (TTM), FY18 Q4: 8.6% FCF margin (TTM), FY19 Q4: 4.9% FCF margin (TTM), FY20 Q4: 5.0% FCF margin (TTM), FY21 Q4: 7.8% FCF margin (TTM), FY22 Q4: 6.7% FCF margin (TTM), FY23 Q4: 7.7% FCF margin (TTM), FY24 Q4: 16.2% FCF margin (TTM), FY25 Q4: 16.6% 16.6%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period FCF margin (TTM)
FY17 Q4 11.8%
FY18 Q4 8.6%
FY19 Q4 4.9%
FY20 Q4 5.0%
FY21 Q4 7.8%
FY22 Q4 6.7%
FY23 Q4 7.7%
FY24 Q4 16.2%
FY25 Q4 16.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 6.8 7.2 7.5 6.8 8.3 8.7 9.5 9.9 10.4
Gross profit 3.2 3.2 3.7 2.9 4.7 4.7 5.2 5.5 5.7
Operating income −0.1 −0.2 −0.2 −0.5 0.6 0.7 1.0 1.4 1.4
Net income 0.3 −0.2 −0.7 −0.5 0.4 0.3 1.0 1.0 1.0
Diluted EPS $0.52 −$0.46 −$1.34 −$1.09 $0.76 $0.68 $1.96 $2.05 $1.98
Growth (year on year)
Revenue — +5.3% +5.0% −9.0% +21.3% +5.1% +8.5% +4.8% +4.9%
Operating income — — — — — +15.9% +54.6% +36.0% −3.8%
Net income — −188.7% — — — −10.9% +190.7% +4.5% −3.7%
Diluted EPS — −188.5% — — — −10.5% +188.2% +4.6% −3.4%
Margins
Gross margin 47.2% 44.6% 48.8% 43.0% 56.1% 54.5% 55.5% 55.6% 55.2%
Operating margin −1.1% −3.5% −2.5% −7.1% 7.0% 7.7% 11.0% 14.3% 13.1%
Net margin 3.8% −3.2% −8.7% −7.8% 4.5% 3.8% 10.3% 10.3% 9.4%
Free-cash-flow margin 11.8% 8.6% 4.9% 5.0% 7.8% 6.7% 7.7% 16.2% 16.6%
Cash flow
Cash from operations 1.2 1.1 0.9 0.8 1.3 1.2 1.4 2.1 2.3
Capital spending 0.4 0.5 0.6 0.5 0.7 0.6 0.7 0.5 0.5
Free cash flow 0.8 0.6 0.4 0.3 0.6 0.6 0.7 1.6 1.7
Balance sheet
Cash 0.2 0.2 0.8 1.6 1.6 1.0 1.1 1.7 1.5
Total debt 0.0 0.0 3.5 4.1 4.1 4.6 4.7 4.6 4.7
Net debt (negative = net cash) −0.2 −0.2 2.7 2.6 2.5 3.7 3.6 3.0 3.2
Diluted shares 488m 488m 488m 489m 493m 494m 497m 498m 496m
Returned to shareholders
Dividends — — 0.0 0.0 0.1 0.1 0.1 0.1 0.2
Buybacks — — — — — — 0.0 0.0 0.7
Total returned — — 0.0 0.0 0.1 0.1 0.1 0.1 0.8

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · December 31, 2025
What it owns · $31.6bn
Short-term assets $6.4bnLonger-term assets $25.1bn
What it owes, and who funded it · $31.6bn
Short-term liabilities $3.0bnLonger-term liabilities $6.5bnShareholders' equity $22.0bn
  • Short-term assets cover short-term liabilities $6.4bn of assets due within a year against $3.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $6.4bn short-term assets against $6.5bn of longer-dated liabilities.
  • More cash than debt $1.5bn of cash against $4.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 19% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 21% to 19% over five years.
  • A year's operating cash flow covers at least 20% of debt $2.3bn of operating cash flow against $4.2bn of debt.
  • Operating profit covers interest at least five times over Operating income of $1.4bn against $204m of interest.

From Alcon Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$676M
Dividends (TTM)
$166M
Returned to shareholders
49%
of free cash flow
Buybacks, last 3 fiscal years
$676M
Diluted share count
−0.3%
year over year
Total shareholder yield
2.3%
dividends 0.5% + buybacks 1.9% of market value
Dividend payout ratio
17%
of net income paid out
R&D spending
9.5%
of revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated ALC ISRG BAX ZBH EW STE Median
Revenue, last 12 months $10.4bn $11.6bn $11.6bn $8.5bn $6.5bn $6.0bn $99m
Revenue growth, last 12 months 4.9% 20.5% 5.3% 8.6% 14.6% 8.4% 9.2%
Revenue growth, 3-year average — 19.1% 0.7% 5.7% 15.3% 9.0% 13.5%
Revenue growth, latest quarter — 21.7% 5.0% 4.8% 13.6% 7.3% 10.2%
Gross margin 55.2% 67.2% 30.1% 69.9% 77.8% 44.4% 61.2%
Operating margin 13.1% 28.4% −1.9% 14.2% 22.3% 18.9% −8.5%
Operating margin, 3-year average 6.3% 28.0% 1.7% 15.6% 25.2% 17.1% −17.9%
Net margin 9.4% 25.5% −6.2% 9.5% 15.4% 13.3% −12.0%
Cash from operations / revenue 21.8% 35.3% 14.1% 20.5% 26.4% 21.3% −1.9%
Free-cash-flow margin 16.6% 31.1% 8.4% 17.9% 22.0% 15.3% −3.9%
Free-cash-flow margin, 3-year average 12.1% 20.7% 4.1% 17.9% 14.4% 14.3% −7.0%
Stock pay / revenue — 7.3% 0.9% 1.2% 2.6% 1.0% 6.1%
Change in share count −0.3% −1.7% 0.7% −1.9% −1.6% −0.5% 4.0%

Median of all 134 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

134 health care equipment companies
Measure Company Peer median Rank
Revenue growth Growth 4.9% 9.1% 84 of 129
Change in growth rate Growth +0.1pp -0.6pp 54 of 129
Gross margin Profitability 55.2% 61.9% 79 of 123
Operating margin Profitability 13.1% -8.3% 24 of 132
Net margin Profitability 9.4% -12.0% 30 of 133
Free-cash-flow margin Cash generation 16.6% -3.4% 18 of 128
Long-term debt as % of assets Balance sheet 13.2% 24.2% 29 of 87
Change in share count Balance sheet -0.3% 3.3% 29 of 115

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$16.1B
Institutions reporting
622
Shares held vs prior quarter
▲ 5.6%
Positions opened / closed
69 / 89

Top buyers and sellers, Q2 2026: 212 institutions bought and 362 sold ; the biggest buyer was Invesco Ltd (+10.0M shares) and the biggest seller FMR LLC (−4.8M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Vanguard Capital Management LLC $995M 14.7M 6.2% ▼ 0.8%
Bank Of New York Mellon Corp $876M 13.1M 5.4% ▼ 16.7%
Norges Bank $741M 11.0M 4.6% —
Invesco Ltd. $697M 10.4M 4.3% ▲ 2786.3%
Ako Capital LLP $652M 9.7M 4.0% ▲ 3.8%
Aristotle Capital Management, LLC $614M 9.2M 3.8% ▼ 5.8%
Zurcher Kantonalbank (Zurich Cantonalbank) $536M 7.9M 3.3% ▼ 1.3%
FMR LLC $514M 7.7M 3.2% ▼ 38.3%
UBS Group AG $480M 7.2M 3.0% ▲ 20.6%
Amundi $445M 6.6M 2.8% ▲ 16.3%
Select Equity Group, L.P. $390M 5.8M 2.4% ▲ 1.6%
Vontobel Holding Ltd. $381M 5.6M 2.4% ▲ 3.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Alcon Inc's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 16 trades and filings

In the last 12 months, 2 members of Congress disclosed 0 purchases and 2 sales of Alcon Inc shares.

  • Kevin Hern(R-OK 1):Sale (full), $1,001 - $15,000, traded August 5, 2026, filed September 1, 2026
  • Josh Gottheimer(D-NJ 5):Sale (full), $1,001 - $15,000, traded March 12, 2026, filed April 8, 2026
  • Julie Johnson(D-TX 32):Sale (full), $1,001 - $15,000, traded March 3, 2025, filed April 14, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Alcon Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Alcon Inc in brief

What does Alcon Inc do?
Alcon Inc is a US-listed company in the health care equipment industry. Its financial year ends in December.
What is Alcon Inc's stock ticker?
Alcon Inc trades under the ticker ALC on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Alcon Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Alcon Inc reported revenue of $10.4B, 4.9% higher than a year earlier, according to its SEC filings.
What is Alcon Inc's free cash flow?
Alcon Inc's free-cash-flow margin is 16.6% of revenue over the trailing twelve months, ranking 18 of the 128 health care equipment companies we cover.
What is Alcon Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Alcon Inc's free cash flow after stock-based pay gives ~$58 per share in the base case, and ~$42–$79 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Alcon Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Vanguard Capital Management LLC, Bank Of New York Mellon Corp and Norges Bank. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Alcon Inc buying back stock, and does it pay a dividend?
Alcon Inc spent $676M on share repurchases over the trailing twelve months, and its diluted share count fell 0.3% over the year.
Does Alcon Inc pay a dividend?
Yes: Alcon Inc paid $166M in dividends over the trailing twelve months, a dividend yield of 0.45% and a payout ratio of 16.9%.
How much debt does Alcon Inc have?
Alcon Inc's debt-to-equity ratio is 18.9%, from its latest balance sheet (21.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Alcon Inc's competitors?
In our Health Care Equipment peer group, the companies closest to Alcon Inc are Intuitive Surgical, Baxter International, Zimmer Biomet, Edwards Lifesciences and Steris. The side-by-side comparison below sets their revenue, margins and growth against Alcon Inc's.
When is Alcon Inc's next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Alcon Inc announces its own schedule.