ALCON INC
ALC · Ophthalmic Goods · EDGAR filings ↗
Grade
A88Dominant, wide-moat global eye-care franchise with top-decile margins, cash generation and a 75-year brand leadership position.
Strengths
- Top-decile FCF/OCF margins (100th pct), 76.7% gross margin (86th) and 34.5% operating margin (95th) with 275x interest coverage
- Market-leading Surgical + Vision Care franchise (~$10.3bn sales, 140+ countries) with durable brand, IP and switching costs; double-digit revenue growth (75th pct)
Risks
- Single-source/limited suppliers and single-site manufacturing create supply-chain concentration risk
- Cyber, AI-governance and cloud-migration execution risks across a large digital transformation
Notable findings
- Strong balance sheetStrong balance sheet — $1.5B cash & investments
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
55.2%
Operating margin
13.1%
Net margin
9.4%
Return on equity
4.4%
Return on assets
3.1%
ROIC
4.0%
Revenue growth (QoQ)
3.0%
Net-income growth
-3.7%
Debt / equity
0.2×
Interest coverage
6.7×
Current ratio
2.1×
Free cash flow
$1.7B
Tangible book value
$12.8B
Cash & investments
$1.5B
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT02700984 ↗ | A Study to Assess Long-Term Safety of the CyPass Micro-Stent in Patients Completing the COMPASS Trial Primary Open Angle Glaucoma (POAG) | NA | Completed | 2018-04-18 |
| NCT01556893 ↗ | Creating LASIK Flaps With the LenSx Femtosecond Laser Myopia, Hyperopia | PHASE1 | Completed | 2013-03-01 |
| NCT01001091 ↗ | AL-38583 Ophthalmic Solution for Allergic Conjunctivitis Associated Inflammation Allergic Conjunctivitis | PHASE2 | Completed | 2010-04-01 |
| NCT00347984 ↗ | Product Preference With Systane Compared to Artificial Tears on Frequency of Drop Use Dry Eye | NA | Completed | 2006-02-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Supply chain
Customers (0)
Suppliers (1)
Named in the 10-K; linked when we track them.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-02-24 | 2025-12-31 | 0001167379-26-000014 ↗ |
| 20-F | 2025-02-25 | 2024-12-31 | 0001167379-25-000008 ↗ |
| 20-F | 2024-02-27 | 2023-12-31 | 0001167379-24-000008 ↗ |
| 20-F | 2023-02-27 | 2022-12-31 | 0001167379-23-000011 ↗ |
| 20-F | 2022-02-15 | 2021-12-31 | 0001167379-22-000011 ↗ |
| 20-F | 2021-02-23 | 2020-12-31 | 0001167379-21-000007 ↗ |
| 20-F | 2020-02-25 | 2019-12-31 | 0001628280-20-002214 ↗ |
| 20-F | 2011-03-18 | 2011-03-18 | 0001167379-11-000037 ↗ |
| 20-F | 2010-03-16 | 2010-03-16 | 0001167379-10-000044 ↗ |
| 20-F | 2009-03-17 | 2009-03-17 | 0001167379-09-000035 ↗ |
| 20-F | 2008-03-18 | 2008-03-18 | 0001167379-08-000021 ↗ |
| 20-F | 2007-03-19 | 2006-03-19 | 0001167379-07-000016 ↗ |