Alcon Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Alcon Inc (ALC) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Alcon Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 10,401M vs 176,832M combined for its competitors (5.6% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months), vs holding steady (-1.3%) for its tracked peer group.
- Growth: Alcon Inc generated 4.9% revenue growth year over year in Q4 2025, vs 7.1% for its competitors combined.
- Profitability: Its 9.4% net margin compares with 15.9% for the peer group.
- Scale: Alcon Inc ranks #8 of 246 companies by market capitalization in the Medical Equipment & Supplies industry, holding 3.1% of industry market cap.
- Peer revenue share: Alcon Inc accounted for 19.3% of combined revenue among its tracked peer group, down from 19.6% a year earlier.
- Peer differentiation: Revenue per employee of $0.42M compares with $0.52M for the peer group (0.8x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
ALC Sales vs. its Competitors, Q4 2025
Alcon Inc reported revenue growth of 4.94 % year on year in Q4 2025, below its competitors' combined revenue growth of 7.09 %.
With a net margin of 9.42 %, Alcon Inc reported lower profitability than its competitors (15.92 %).
Alcon Inc generated 19.25 % of the combined sales of its peer group, down from 19.57 % a year earlier.
API endpoints for this dataset
Alcon Inc vs. its Competitors, Q4 2025
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Alcon Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Alcon Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Alcon inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (20) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (10) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (8) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Alcon Inc's competitor groups requires a Commercial License.
For context: the Medical Equipment & Supplies industry grew revenue 14.4% year over year, combined, vs 4.9% for Alcon Inc. Alcon Inc's share of combined industry revenue moved from 9.71% to 8.91%, a loss of 0.80 percentage points.
Alcon Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Alcon inc | Yes | Yes | No | No |
| Competitors combined (19) | ||||
| High-Confidence Competitors (21) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 12.50 % (1 of 8) | 12.50 % (1 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
ALC Stock Performance relative to its Competitors
ALC Stock Performance relative to High-Confidence Competitors
ALC Stock Performance relative to Similar-Size Competitors
ALC Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Glaukos Corp | 282.9% | Outperformed |
| 2 | Sight Sciences Inc | 282.9% | Outperformed |
| 3 | Johnson and Johnson | 282.9% | Outperformed |
| 4 | West Pharmaceutical Services Inc | 282.9% | Outperformed |
| 5 | Warby Parker Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Alcon Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Alcon Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Alcon inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Alcon inc |
37,185.23 | 10,401.00 |
 Johnson and Johnson |
676,352.29 | 99,335.00 |
 Abbott Laboratories |
191,605.90 | 46,585.00 |
 West Pharmaceutical Services Inc |
28,306.55 | 3,397.10 |
 Glaukos Corp |
13,732.99 | 578.35 |
 The Cooper Companies Inc |
12,060.42 | 4,236.60 |
| SUBTOTAL | 987,844.97 | 187,233.45 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Alcon inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Alcon Inc's Competitors Named by the Company
Competitive relationships identified from Alcon Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Glaukos Corp | Company report | 85% |
| Escalon Medical Corp | Company report | 85% |
| Skye Bioscience Inc | Company report | 85% |
| Prestige Consumer Healthcare Inc | Company report | 85% |
| Fresenius Medical Care | Company report | 85% |
| Koninklijke Philips Nv | Company report | 85% |
| Baxter International Inc. | Company report | 85% |
| Edwards Lifesciences Corporation | Company report | 85% |
| Align Technology Inc. | Company report | 85% |
| Boston Scientific | Company report | 85% |
| Givaudan | Company report | 85% |
| Neonode Inc | Company report | 85% |
| Spyglass Pharma Inc | Company report | 85% |
| Becton Dickinson & Company | Company report | 85% |
| EssilorLuxottica | Company report | 85% |
| Bausch Health Companies Inc. | Company report | 85% |
| Dentsply Sirona Inc. | Company report | 85% |
| Agilent Technologies Inc. | Company report | 85% |
| Biogen Inc. | Company report | 85% |
| Clearside Biomedical Inc | Company report | 85% |
| Hoya Corporation | Company report | 85% |
| Oculis Holding Ag | Company report | 85% |
| Staar Surgical Co | Company report | 85% |
| One Stop Systems Inc | Company report | 85% |
| Hyperion Defi inc | Company report | 85% |
| The Cooper Companies Inc | Company report | 85% |
| Sight Sciences Inc | Company report | 85% |
| Bausch and Lomb Corp | Company report | 85% |
| Abbott Laboratories | Company report | 85% |
| Rxsight Inc | Company report | 85% |
| Johnson and Johnson | Company report | 85% |
| National Vision Holdings Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Alcon Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Alcon Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Johnson and Johnson | Oncology 29.93 % |
| Abbott Laboratories | Diabetes Care 16.79 % |
| West Pharmaceutical Services Inc | Proprietary Products 83.34 % |
| Glaukos Corp | Development and Commercialization of Ophthalmic Therapies 100.00 % |
| The Cooper Companies Inc | CooperVision 67.93 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Alcon Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Alcon inc | 37,185 | 416,040 | 39,200 |
| Johnson and Johnson | 676,352 | 705,504 | 114,311 |
| Abbott Laboratories | 191,606 | 405,087 | 47,174 |
| West Pharmaceutical Services Inc | 28,307 | 314,546 | 59,157 |
| Glaukos Corp | 13,733 | 528,661 | -155,209 |
| The Cooper Companies Inc | 12,060 | 282,440 | 38,020 |
| PEERS TOTAL | 950,660 | 523,687 | 65,139 |
Alcon Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Johnson and Johnson | United States 58.90 % |
| Abbott Laboratories | Non-US 57.70 % |
| Glaukos Corp | US 82.85 % |
| The Cooper Companies Inc | United States 50.22 % |
| Prestige Consumer Healthcare Inc | United States 78.12 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Alcon Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 218 companies in Alcon Inc's industry classification, broader than the peer set above. Market cap in millions of $.Alcon Inc ranks #8 of 218 companies by market capitalization in its industry, holding 3.11 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 616, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Intuitive Surgical Inc | 161,785 | 13.52 % |
| 2 | Medtronic Plc | 130,823 | 10.94 % |
| 3 | Stryker Corp | 125,786 | 10.51 % |
| 4 | 3m Company | 96,722 | 8.09 % |
| 5 | Boston Scientific Corporation | 1,234 | 5.2% |
| 6 | Edwards Lifesciences Corporation | 1,234 | 5.2% |
| 7 | Becton Dickinson And Company | 1,234 | 5.2% |
| 8 | Alcon inc | 37,185 | 3.11 % |
| 9 | Resmed Inc | 1,234 | 5.2% |
| 10 | Medline Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Alcon Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Alcon Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 3 | Stryker Corp | 125,786 | -9.44 % |
| 4 | 3m Company | 96,722 | 12.53 % |
| 5 | Boston Scientific Corporation | 63,048 | -56.49 % |
| 6 | Edwards Lifesciences Corporation | 58,996 | 19.75 % |
| 7 | Becton Dickinson And Company | 1,234 | 12.3% |
| 8 | Alcon inc | 37,185 | 0.27 % |
| 9 | Resmed Inc | 1,234 | 12.3% |
| 10 | Medline Inc | 1,234 | 12.3% |
| 11 | Dexcom Inc | 1,234 | 12.3% |
| 12 | West Pharmaceutical Services Inc | 1,234 | 12.3% |
| 13 | Steris Plc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Alcon Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Alcon Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Medical Equipment & Supplies industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (342 companies). See the full Medical Equipment & Supplies industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 55.24 % | 46.18 % (avg) | +9.1 pp |
| Operating Margin | 13.08 % | industry median | +15.7 pp |
| EBITDA Margin | 13.11 % | -6.91 % (avg) | +20.0 pp |
| Capital Intensity (Capex / Revenue) | 5.22 % | 7.15 % (avg) | -1.9 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Alcon Inc's Valuation vs Competitive Position
Valuation multiples vs the Medical Equipment & Supplies industry average (342 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Medical Equipment & Supplies industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 38.9x | 37.9x | +1.0x |
| EV / EBITDA | 29.9x | 18.1x | +11.8x |
| P/B | 1.7x | 4.6x | -2.9x |
| Return on Equity | 4.45 % | industry aggregate | -3.92 % |
| Return on Invested Capital | 2.71 % | -6.82 % (avg) | 9.53 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Alcon Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue Growth | 8.47 % | 4.82 % | 4.94 % |
| Operating Margin | 10.99 % | 14.26 % | 13.08 % |
| Return on Invested Capital | 2.17 % | 2.92 % | 2.71 % |
| P/E | 37.7x | 44.0x | 38.9x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Alcon Inc's Strategic Group Map
Alcon Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Alcon Inc's trailing-12-month revenue growth of 4.9% and operating margin of 13.1% compares with an average of 5.2% growth and 11.9% margin across its 8 closest peers by combined growth, margin and ROIC -- Alcon Inc sits below that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Alcon Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Alcon Inc falls in the Dog quadrant: relative market share of 0.23x vs its largest competitor, in an industry growing revenue 8.8% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Alcon Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 616 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 5.22 % vs industry average 7.15 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Alcon Inc's dedicated Suppliers and Customers pages, not here.
Alcon Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Alcon Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Alcon Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 15.7 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.23x).
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Alcon Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Alcon inc | 0.50 | 2.12 | 0.19 |
| Johnson and Johnson | 0.36 | 1.04 | 0.60 |
| Abbott Laboratories | 0.42 | 1.50 | 0.44 |
| West Pharmaceutical Services Inc | 0.85 | 2.84 | 0.07 |
| Glaukos Corp | 1.12 | 4.90 | - |
| The Cooper Companies Inc | 0.09 | 1.49 | 0.30 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Alcon Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Alcon inc | Q4 2025 | +4.9 % | -3.7 % |
| Johnson and Johnson | Q3 2026 | +5.9 % | -95.9 % |
| Abbott Laboratories | Q2 2026 | +13.0 % | -47.8 % |
| West Pharmaceutical Services Inc | Q3 2026 | +8.7 % | +52.9 % |
| Glaukos Corp | Q3 2026 | +59.0 % | - |
| The Cooper Companies Inc | Q2 2026 | +0.6 % | +340.3 % |
| PEERS TOTAL | +7.6 % | -59.0 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Alcon Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Alcon inc | Q4 2025 | +6.1 % | +14.8 % |
| Johnson and Johnson | Q3 2026 | +10.9 % | +17.7 % |
| Abbott Laboratories | Q2 2026 | +9.7 % | -1.0 % |
| West Pharmaceutical Services Inc | Q3 2026 | +3.4 % | -38.2 % |
| Glaukos Corp | Q3 2026 | +11.3 % | +27.2 % |
| The Cooper Companies Inc | Q2 2026 | -3.7 % | -29.1 % |
Alcon Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Alcon inc | 3.11% | 3.47% | 4.45% |
| Johnson and Johnson | 8.06% | 10.53% | 19.55% |
| Abbott Laboratories | 5.56% | 6.45% | 10.41% |
| West Pharmaceutical Services Inc | 15.47% | 17.65% | 21.08% |
| Glaukos Corp | - | - | - |
| The Cooper Companies Inc | 4.57% | 5.09% | 6.90% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Alcon Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Alcon inc | 37.85 | 3.58 |
| Johnson and Johnson | 41.79 | 6.81 |
| Abbott Laboratories | 35.35 | 4.11 |
| West Pharmaceutical Services Inc | 44.87 | 8.33 |
| Glaukos Corp | - | 23.74 |
| The Cooper Companies Inc | 21.36 | 2.85 |
| PEERS AVERAGE | 43.00 | 5.28 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.