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ALC

Alcon Inc.

ALC

Alcon Inc. • NYSE
$79.31 ▲ 0.18% (+0.14)
Market Cap $39.22 B
52w High $99.20
52w Low $71.55
Dividend Yield 0.33%
P/E 37.77
Volume 474.36K
Outstanding Shares 494.56M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.614B ▲ $1.126B ▼ $237M ▲ 9.067% ▲ $0.48 ▲ $664.564M ▲
Q2-2025 $2.596B ▲ $1.141B ▲ $176M ▼ 6.78% ▼ $0.36 ▼ $250M ▼
Q1-2025 $2.473B ▼ $915M ▼ $350M ▲ 14.153% ▲ $0.71 ▲ $463M ▲
Q4-2024 $2.502B ▲ $990M ▼ $284M ▲ 11.351% ▲ $0.57 ▲ $397M ▼
Q3-2024 $2.454B $1.039B $263M 10.717% $0.53 $620M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.496B ▲ $31.491B ▲ $9.426B ▲ $22.063B ▼
Q2-2025 $1.408B ▼ $31.387B ▲ $9.257B ▲ $22.114B ▲
Q1-2025 $1.412B ▼ $31.008B ▲ $8.989B ▲ $22.003B ▲
Q4-2024 $1.83B ▼ $30.347B ▼ $8.794B ▼ $21.553B ▲
Q3-2024 $1.986B $30.362B $8.973B $21.389B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $238.127M ▲ $698.773M ▲ $-303.589M ▼ $-282.315M ▲ $83.794M ▲ $538.692M ▲
Q2-2025 $176M ▼ $505M ▲ $-154M ▲ $-383M ▼ $-4M ▲ $403M ▲
Q1-2025 $350M ▲ $384M ▼ $-578M ▼ $-96M ▼ $-264M ▼ $278M ▼
Q4-2024 $274.369M ▲ $462.94M ▼ $-331.762M ▲ $-7.698M ▲ $113.571M ▼ $313.179M ▼
Q3-2024 $268.904M $724.676M $-478.089M $-72.181M $187.5M $613.183M

Five-Year Company Overview

Income Statement

Income Statement Alcon’s income statement shows a clear story of steady improvement. Sales have risen each year over the last five years, even through challenging periods, pointing to durable demand for its eye-care products. Profitability has strengthened as well: gross profit and operating profit have both expanded, indicating better scale, mix shift toward higher‑value products, and decent cost control. The company has moved from losses earlier in the period to solid, recurring net earnings with earnings per share climbing consistently. The main watchpoints are how much of this margin progress is still ahead versus already captured, and the ongoing need to invest in sales, marketing, and R&D to sustain growth in a competitive medical-technology market.

Balance Sheet

Balance Sheet The balance sheet looks generally healthy and supportive of long-term operations. Total assets and shareholders’ equity have been creeping up over time, which suggests retained earnings are being built rather than consumed. Debt levels have stayed fairly stable rather than rising aggressively, so leverage appears controlled, though the company is not in a net cash position. Cash on hand has moved around year to year but remains meaningful, giving flexibility for investment and smaller acquisitions. Overall, the capital structure looks balanced, with a tilt toward equity funding and manageable financial risk, but still some exposure to interest rates and refinancing conditions over time.

Cash Flow

Cash Flow Cash generation has improved noticeably. Operating cash flow has grown alongside earnings, showing that reported profits are increasingly backed by real cash. Free cash flow has strengthened from modest levels a few years ago to much more comfortable levels recently, helped by rising cash profits and somewhat lower relative capital spending. The company still invests meaningfully in equipment, facilities, and technology, which is typical for a med‑tech manufacturer, but these outlays no longer consume most of the cash coming in. The trend suggests better efficiency and more room to fund R&D, bolt‑on deals, and shareholder returns, while still leaving a buffer for downturns. The key risk is that larger investment cycles or acquisitions could temporarily compress free cash flow.

Competitive Edge

Competitive Edge Alcon holds a very strong competitive position in eye care. It is the global leader in eye surgery and a top player in contact lenses, with a long history, trusted brand, and deep relationships with surgeons and eye‑care professionals. Its ecosystem of surgical equipment, lenses, and consumables creates high switching costs: once a clinic is trained on and invested in Alcon systems, change becomes difficult and risky. The breadth of its product portfolio—from operating room devices to everyday vision products—allows cross‑selling and keeps competitors from easily displacing it in any one niche. This supports above‑average profitability. On the risk side, Alcon still faces intense competition from large, well‑funded rivals, plus ongoing pricing and reimbursement pressures, which means it must keep innovating to defend its premium positioning.

Innovation and R&D

Innovation and R&D Innovation is clearly at the heart of Alcon’s strategy. The company employs a large global R&D team and has a strong track record of bringing differentiated products to market, such as its advanced intraocular lenses (PanOptix and Vivity), high‑comfort contact lenses built on Water Gradient technology, and integrated surgical visualization systems. It is extending this lead with upcoming platforms like the UNITY VCS surgical system, next‑generation premium lenses, smart contact lens concepts, and a growing presence in eye pharmaceuticals (for example in dry eye and retinal disease). A steady flow of patents, including in artificial intelligence and digital tools, suggests it is preparing for more data‑driven and connected eye care. The main uncertainties are execution risk—whether new launches achieve wide adoption—and regulatory and clinical hurdles that can delay or limit returns on R&D spending.

Summary

Taken together, Alcon looks like a mature but still growing eye‑care leader with improving financial quality. Revenue has risen steadily, margins and earnings have strengthened, and cash conversion has become more robust, all supported by a broad, defensible competitive position. The balance sheet is solid with manageable debt and adequate liquidity, giving room to invest in innovation and selective acquisitions. Strategically, the company benefits from attractive long‑term trends in eye health, such as aging populations and greater demand for premium vision correction. At the same time, it operates in a highly regulated, competitive field where product cycles, pricing pressure, reimbursement decisions, and technology shifts can all affect outcomes. Future performance will hinge on maintaining its innovation edge, successfully commercializing its pipeline, and continuing to translate its strong market position into sustainable, cash‑backed profitability.

NEWS

November 11, 2025 · 4:30 PM UTC

Alcon Delivers Solid Third-Quarter 2025 Results with Accelerated Growth in Equipment and Ocular Health; Unity VCS Momentum Builds

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November 10, 2025 · 8:00 AM UTC

Broadwood Partners Calls for the Appointment of New Directors at STAAR Surgical to Oversee Go-Shop Process

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November 7, 2025 · 10:10 AM UTC

STAAR Surgical Announces Amendments to Alcon Merger Agreement

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November 6, 2025 · 6:21 AM UTC

Yunqi Capital Applauds STAAR Surgical's Strong Third Quarter Results and Reiterates That the Proposed Sale to Alcon Should Be Terminated

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November 4, 2025 · 11:52 AM UTC

Broadwood Partners Condemns Alcon's Fallacious Attacks on STAAR Surgical and Its Prospects

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