Alcon Inc. - Registered Shares

Alcon Inc. - Registered Shares

ALC

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Market Cap$32.58B
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P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Alcon Inc. - Registered SharesAlcon Inc. - Registered Shares39.90.54%4%3.20.2

Earnings Call Q1 2026

May 6, 2026 - AI Summary

Q1 top-line & segment performance (good): - Sales: $2.7B, +6% YoY (constant currency referenced in remarks). - Surgical: revenue $1.5B, +6% YoY. Implantables $438M, +1% YoY (PanOptix Pro performing; some weakness noted elsewhere). Consumables $769M, +4% YoY (softer-than-historical market; includes price increases). - Equipment: $253M, +23% YoY driven by Unity momentum (accelerating growth). - Vision Care: revenue $1.2B, +6% YoY; contact lenses $738M, +4% YoY; ocular health $487M, +10% YoY driven by dry eye (Tryptyr + Sustain).
Innovation-driven momentum & share gains (good/opportunity): - Unity surgical platform: Unity VCS won an Edison Award; Unity CS expanding the platform to cataract. CEO emphasized robust order pipeline post-ASCRS and strengthening share/installed base (beyond replacement cycles). - IOL innovation: - PanOptix Pro helping drive ~2 share points of growth in U.S. PC-IOL category; launch expanding internationally (Europe launch mentioned as imminent/ongoing). - TruePlus enhanced monofocal launched (incl. toric from day 1) to defend/compete vs Clarion and grow AT-IOL share. - Vivity upgrade remains on track for early 2027. - Dry AMD: Valeda early adoption described as encouraging; reimbursement progressing (all but one Medicare contractor covered). - Contact lens mix shift: Reusable traction highlighted—over half of new wearers started reusables, supporting retention and margins.
Market & demand backdrop (surprising/mixed): - Management sees global cataract procedure volumes growing low single digits but persistent softness in the quarter attributed to uneven conditions (including U.S. surgical softness; discussion also referenced strikes/weather by a peer and the company’s view that these impacted the quarter). - AT-IOL penetration: up +130 bps to ~17% overall; ex-China penetration up ~220 bps—China noted as a key pressure point (including a competitive recall affecting comp). - Contact lens market expected to remain low-to-mid single digit growth with U.S. strength; price resistance internationally was a key theme (chains/online buyers more sensitive).

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$81.75

Target Price by Analysts

22.3% upsideAlcon - Registered Shares Target Price DetailsTarget Price
$88.36

Current Fair Value

32.2% upside

Undervalued by 32.2% based on the discounted cash flow analysis.

Share Statistics

Market cap$32.58 Billion
Enterprise Value$36.29 Billion
Dividend Yield$0.36 (0.54%)
Earnings per Share$1.99
Beta0.7
Outstanding Shares487,200,000

Return

Return on Equity3.66%ROE
Return on Assets2.56%
Return on Invested Capital3.23%

Valuation & Multiples

P/E Ratio39.95P/E Ratio
PEG-84.9PEG
Price to Sales3.18Price to Sales
Price to Book Ratio1.49Price to Book Ratio
Enterprise Value to Revenue3.43
Enterprise Value to EBIT39.09
Enterprise Value to Net Income44
Total Debt to Enterprise0.15
Debt to Equity0.24Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 19, 2026
EPS Estimate
$0.82
Average shareholder expectation
Revenue Estimate
$2.70 B
Average shareholder expectation

Next Earnings Call

Expected Date
August 18, 2026
EPS Estimate
$0.79
Average shareholder expectation
Revenue Estimate
$2.72 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio1.5234 102.25%
Total Calls3,710,035 72.52%
Total Puts5,652,000 16.43%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %46.72% 2.86%
Total Invested$17.08B 11.53%
Investors Holding680 2.00%

ESG Score

No data

About Alcon, Inc.

20,000 employees
CEO: David J. Endicott

Alcon, Inc. engages in the development, manufacture, and marketing of market surgical equipment and devices, pharmaceutical eye drops, and consumer vision care products to treat eye diseases and disorders. It operates through the followi...

Relevant Senate Committees

Joint Committee on Taxation

This committee provides the official revenue estimates and technical analysis for all tax legislation. Its reports directly inform and influence the tax-writing process, which determines corporate tax structures, deductions, and credits, thereby having a direct and significant impact on Alcon's financial planning and net profitability.

Finance

This powerful committee controls taxation, trade, and entitlement spending (like Medicare). Its decisions on corporate tax policy directly impact Alcon's profitability. Furthermore, its influence on Medicare pricing and reimbursement policies significantly affects the market for Alcon's surgical procedures and pharmaceutical products, as many patients are covered by Medicare.

Appropriations

This committee directly allocates discretionary federal spending. Its subcommittees determine precise funding for various federal programs, including those related to healthcare (e.g., NIH research, VA healthcare funding, Medicare/Medicaid budgets), which directly impact the funding available for the purchase of Alcon's products and relevant research initiatives.

Health, Education, Labor, and Pensions

This committee directly regulates agencies vital to Alcon, such as the FDA (Food and Drug Administration), which approves Alcon's pharmaceutical eye drops, surgical devices, and contact lenses. Its oversight of NIH also impacts research funding relevant to eye care, making it a primary regulatory body for Alcon's products.

Judiciary

This committee oversees intellectual property (patents, trademarks), which is critical for protecting Alcon's pharmaceutical formulations and medical device designs. It also handles antitrust laws, impacting potential mergers, acquisitions, and competitive practices within Alcon's markets.

Veterans' Affairs

This committee's funding decisions directly impact the Department of Veterans Affairs, which is a major purchaser and provider of healthcare. Alcon's surgical equipment, devices, and pharmaceutical eye drops are highly relevant to the care provided to veterans, making this committee's actions directly influential on Alcon's sales to the VA.