Alcon Inc.
Alcon Inc. is a global eye care company focused on products and technologies that support vision health across surgical and everyday care settings. Alcon Inc. develops, manufactures, and markets a broad portfolio for cataract surgery, vitreoretinal procedures, glaucoma care, refractive surgery, contact lenses, lens care, and other ocular health needs. Its Surgical business provides implantable products, surgical equipment, diagnostics, and consumables used by ophthalmologists in hospitals and specialty clinics. Its Vision Care business includes daily disposable and reusable contact lenses, color-enhancing lenses, and a range of eye health products for dry eye, allergies, glaucoma support, contact lens care, and redness relief. Headquartered in Geneva, Switzerland, Alcon Inc. serves eye care professionals, medical institutions, and consumers in markets worldwide as a leading provider in ophthalmology and vision care.
$70.17
-$0.46 (-0.65%)
EOD Oct 23, 2026
Operating margin is thin at 8.73%. Limited cushion if revenue slows or costs rise.
Revenue grew 4.9% in the fiscal year ended Dec 2025, steady but not accelerating.
At 53.56x earnings, the multiple leaves limited room for execution misses or growth deceleration.
53.56x earnings, 21.58x FCF. The market is pricing in years of above-average growth, so a slowdown would hit the multiple as well as the earnings.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$10.86B
▲ +4.9% YoY
Net Income (TTM)
$643M
▼ -3.7% YoY
Op. Margin
8.73%
▼ -1.2pp YoY
ROIC
4.68%
▲ +0.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.59B
▲ +14.3% YoY
Op. Cash Flow (TTM)
$2.31B
▼ -9.1% YoY
Net Debt
N/A
Cash & Equiv.
N/A
3Y CAGR: +6.1%
3Y CAGR: +50.5%
Continue Research
Is Alcon (ALC) overvalued?
At a P/E of 53.6 and a price-to-free-cash-flow of 21.6, Alcon (ALC) trades below a two-stage DCF intrinsic value of about $163.25 per share, so at $70.17 the stock looks undervalued (132.7% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Alcon scores 63/100 on Intrinsiqq's quality scorecard (a solid business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 0.5%; see dividend safety for coverage and history. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is Alcon's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $163.25 per share for ALC, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $122.44. At today's $70.17, that puts the stock about 132.7% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is Alcon a high-quality business?+
Alcon scores 63 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a solid business on these measures. Recent fundamentals include a 8.7% operating margin and a 4.7% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does Alcon (ALC) pay a dividend, and how much?+
Yes, Alcon pays a regular dividend of about $0.36 per share per year (typically in quarterly installments), a yield of roughly 0.5% at the current price. That is a payout ratio of about 27.2% of earnings, so the dividend is amply covered by earnings. Alcon has grown the dividend at roughly 15.1% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For ALC's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is Alcon a good stock to buy right now?+
That depends on valuation and quality together, not either alone. ALC currently trades below its estimated intrinsic value and scores 63/100 on quality (solid). It also yields about 0.5%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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