ALCNYSEOphthalmic GoodsFiscal year ends December 31
ALCON INC
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Feb 24, 2026
$66.13−0.05 (-0.08%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 33.4
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2006 to 2025
Gross margin
55.2%+12.2 pts over 5 years
Operating margin
13.1%+20.1 pts over 5 years
Net margin
9.4%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +4.9% | +6.1% | +8.8% | – | |
| Gross profit | +4.2% | +6.6% | +14.3% | – | |
| Operating income | -3.8% | +26.5% | – | – | |
| Net income | -3.7% | – | – | – | |
| EPS, diluted | -3.4% | +42.8% | – | – | |
| Free cash flow | +7.7% | +43.8% | +38.1% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on assets | – | – | 3.2% | |
| Current ratio | – | 2.21 | 2.12 | |
| Debt to equity | – | – | 0.21 | |
| Interest coverage | – | -3.9× | 6.7× | |
| Inventory turnover | – | 2.5× | 2.0× | |
| Capex to revenue | – | 7.0% | 5.2% | |
| Diluted shares | – | 489M | 496M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Alcon generated $8.30B from operations and spent $4.25B on capital expenditure, dividends and share buybacks. 71% of that went back into the business.
Generated
$8.30B
Used
$4.25B
Capital expenditure$3.01B71%Dividends$566.00M13%Share buybacks$676.00M16%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin9.4%
×Asset turnover0.34×
×Equity multiplier1.42×
=Return on equity, FY20254.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 9.4% | 0.34× | 1.42× | 4.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$980.00M
- Cash generatingOperating cash flow above zero$2.27B
- Return on assets improvedROA up on the prior year3.4% → 3.2%
- Earnings backed by cashOperating cash flow above net income$2.27B vs $980.00M
- Less leverageLong-term debt to assets fell15.0% → 13.2%
- Better liquidityCurrent ratio rose2.77 → 2.12
- No dilutionShare count did not rise498M → 496M
- Gross margin improvedGross margin up on the prior year55.61% → 55.24%
- More efficientAsset turnover rose0.33 → 0.34