Alcon Inc. - Registered Shares
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+ FollowMarket Cap$34.54B
Close$
Earnings Call Q2 2026
August 11, 2026 - AI Summary
Solid Q2 performance; broad-based growth (Good)
- Sales $2.8B, +7% YoY in constant currency (CC).
- Surgical franchise +7% YoY to $1.6B; implantables +1% to $466M (within that IOLs +2%).
- Vision Care +7% YoY to $1.2B; contact lenses +5% and ocular health +12%.
- Portfolio strength supported by estimated eye care market growth ~3%–4% in Q2.
Innovation momentum: UNITY and IOL platform strength (Good / Opportunities)
- UNITY: equipment sales +$279M, +25% YoY; management says ASPs and demand for UNITY VCS and workflow improvements in UNITY CS are driving adoption.
- Equipment funnel remains strong; company reiterated launch plan approach (front-loaded then steady replacement cadence) rather than changing the overall cycle.
- PanOptix Pro: strong early traction—nearly all PanOptix accounts converted; Pro represents ~90% of PanOptix implants in the U.S. with feedback on less light scatter and encouraging visual performance.
- International rollout expected to extend momentum; PanOptix Pro meaningfully impacts Europe in 2H.
Key forecast/outlook for 2026: steady top-line growth and margin expansion (Expectation/Forecast)
- Company outlook assumes aggregate markets +3%–4% in 2026, FX hold as of end of July, and tariffs remain in effect through year-end (see risk below).
- Guidance: CC sales growth +5% to +7% for 2026.
- Profitability: core operating margin expansion raised to +90–190 bps (CC) for 2026; core diluted EPS growth +12% to +15% (CC).
- Company expects additional tailwinds in 2H from TRYPTYR, Valeda, UNITY CS, and PanOptix Pro in Europe, plus contact lens easier comparisons in 4Q.
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Share Statistics
| Market cap | $34.54 Billion |
|---|---|
| Enterprise Value | $38.48 Billion |
| Annual dividend | $0.36 |
| Dividend yield | 0.50% |
| Earnings per Share | $1.99 |
| Beta | 0.73 |
| Outstanding Shares | 486,700,000 |
Return
| Return on Equity | 2.96% |
|---|---|
| Return on Assets | 2.06% |
| Return on Invested Capital | 1.54% |
Valuation & Multiples
| P/E Ratio | 54.96 |
|---|---|
| PEG | -54.96 |
| Price to Sales | 3.52 |
| Price to Book Ratio | 1.76 |
| Enterprise Value to Revenue | 3.56 |
| Enterprise Value to EBIT | 89.43 |
| Enterprise Value to Net Income | 60 |
| Total Debt to Enterprise | 0.14 |
| Debt to Equity | 0.25 |
Revenue Sources
No data
Last Earnings Call
Report Date
August 18, 2026
EPS Estimate
$0.79
Consensus analyst estimateRevenue Estimate
$2.71 B
Consensus analyst estimateNext Earnings Call
Expected Date
November 10, 2026
EPS Estimate
$0.89
Consensus analyst estimateRevenue Estimate
$2.68 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.04, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0439▼ 122.93% |
|---|---|
| Total Calls | 148,000▼ 97.77% |
| Total Puts | 6,500▼ 99.92% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 2.79%▼ 46.63% |
|---|---|
| Total Invested | $860.63M▼ 94.66% |
| Investors Holding | 197▼ 474.00% |
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...