# Alcon Inc. Ordinary Shares (ALC) — Stock CV

Alcon Inc. is a $31.0B healthcare company. Revenue grew 4.9% over the last year, it keeps 9¢ of every dollar of sales as profit, and its net debt equals ~2.2 years of free cash flow. It trades at 38.4× earnings.

> Alcon is one of the leading visioncare companies in the world. Following nine years as a Novartis subsidiary, it was spun off as a public company in April 2019.

## Identity

- **Ticker**: ALC
- **Sector**: Healthcare
- **Employees**: 25 942
- **Website**: https://www.alcon.com
- **Market cap**: $31.0B
- **Last price**: $64.11
- **Financial profile**: Strong

## Vitals (FY2025)

- **Revenue**: $10.4B
- **Net income**: $980M
- **Free cash flow**: $1.74B
- **Net debt**: $3.84B
- **P/E**: 38.4
- **Revenue growth (YoY)**: 4.9%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 77 |
| Growth | 87 |
| Profitability | 35 |
| Health | 80 |
| Quality | 90 |
| Moat | 62 |

## Qualifications (beginner checklist) — 11 of 11 passed

- [x] Revenue growing — +4.9% YoY
- [x] Profitable — $980M FY2025
- [x] Profit growing — +42.8% YoY
- [x] Generates cash — $1.74B FY2025
- [x] Debt under control — ~2.2y of cash flow to repay
- [x] Established company — $31.0B market cap
- [x] Not printing shares — -1.4% shares over ~5y
- [x] Proven track record — 5/5 profitable years
- [x] Financially stable — Altman Z 2.6 — grey
- [x] Pays a dividend — yield 0.55%
- [x] Valuation not extreme — P/E 38.4

## Experience (career milestones)

- **FY2025** — Revenue crossed $10B: $10.4B for the year
- **2025** — Alcon announced the acquisition of LumiThera, Inc., a leader in light-based innovations for…
- **FY2024** — Best year on record: $1.02B net income
- **FY2021** — Profitable every year on record: 5 consecutive profitable years in our data
- **FY2021** — Revenue already above $1B: $8.29B in first reported year
- **FY2021** — Positive free cash flow every year since: 5-year streak
- **Apr 9, 2019** — Alcon completed a 100% spin-off from Novartis
- **Mar 29, 2010** — Alcon acquired Durezol and Zyclorin from Sirion Therapeutics
- **2008** — Novartis purchased approximately 25% of Nestlé's stake in Alcon
- **2002** — Nestlé conducted an initial public offering of 25% of its stake in Alcon in 2002
- **1979** — Alcon acquired Texas Pharmacal Company which became Dermatological Products of Texas (and is now DPT…
- **1977** — Nestlé of Switzerland purchased Alcon in 1977
- **1945** — Alcon was founded in 1945 as a small pharmacy in Fort Worth, Texas, United States

## Strengths

- High gross margin (59.6%)
- Strong cash conversion — FCF is 16.7% of revenue
- Interest covered 27.4× by operating earnings

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $8.29B | $376M | $96.0M |
| FY2022 | $8.72B | $335M | $728M |
| FY2023 | $9.46B | $974M | $1.60B |
| FY2024 | $9.91B | $1.02B | $1.73B |
| FY2025 | $10.4B | $980M | $1.74B |

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Source: https://stockcv.com/ALC — derived from company filings; may be delayed or incomplete. Information, not investment advice.