Alcon AG (ALC) fair value: what the stock is really worth
We calculate from audited financials what Alcon AG is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Alcon AG
ALC · USStretched ValuationStrong overvaluation with only moderate quality.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 17, 2026.
How to read this chart
60‑month range $55.68 – $99.92 · fair‑value band $27.93 – $51.63 · the $65.04 price screens above the $39.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 17, 2026.
Company profile
Alcon Inc. researches, develops, manufactures, distributes, and sells eye care products worldwide. The company operates through two segments, Surgical and Vision Care.
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Alcon Inc. researches, develops, manufactures, distributes, and sells eye care products worldwide. The company operates through two segments, Surgical and Vision Care. It offers equipment, instrumentation and diagnostics, intraocular lenses (IOLs), and other implantables; and consumables, including viscoelastics, surgical solutions, incisional instruments, surgical custom packs, and other products for surgical procedures. The company's cataract products include Unity CS, LenSx laser system, Verion reference unit and Verion digital marker, ARGOS biometer, SMARTCATARACT health platform, NGENUITY 3D visualization system, LuxOR surgical ophthalmic microscope, and ORA system for intra-operative measurements; ADI cloud-based platform; and implantable products, including monofocal, Toric, and Presbyopia-Correcting IOLs, as well as delivery systems, such as AutonoMe and UltraSert. In addition, it provides Custom Pak surgical procedure packs vitreoretinal products comprising constellation vision systems, procedure packs, lasers and hand-held microsurgical instruments, Grieshaber, MIVS instruments; scissors, forceps and micro-instruments, medical grade vitreous tamponades, and Hypervit probes; and refractive surgery products, including WaveLight and Contoura Vision used for LASIK refractive procedure. Further, the company offers daily disposable, reusable, and color-enhancing contact lenses; ocular health products, such as dry eye, ocular allergies, glaucoma, and contact lens care, as well as ocular vitamins and redness relievers. The company was formerly known as Alcon Universal S.A. and changed its name to Alcon Inc. in December 2001. Alcon Inc. was founded in 1945 and is headquartered in Geneva, Switzerland.
Stock analysis
Alcon AG (ALC) currently trades at $65.04, while our model-based Fair Value estimate is $39.78, implying the stock looks roughly 63.5% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $43.87 per share, and 2 of the 26 models we run sit above the $65.04 price.
Bear case: the Dividend Discount group reads lowest at $4.94, and 24 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $27.93 (bear) to $51.63 (bull), the price of $65.04 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Alcon AG reported revenue of $10.4B in FY2025 versus $8.3B in FY2021, a compound +5.8%/yr. Reported net income was $980M in FY2025, compounding +27.1%/yr from FY2021.
Key figures
Market cap $32.3B · P/E ratio 38.9 · P/S ratio 3.67 · EPS (TTM) $1.67 · Dividend yield 0.5% · Net margin 9.4% · Return on equity 3.7% · Return on assets (EBIT) 3.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 29% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −46% fair-value upside, at −39%, ALC screens cheaper than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 42
Revenue & earnings trend
Growth Forecast
ALC screens 64% overvalued. Compare with Intuitive Surgical, Inc →
Earlier news
- Is it a Prudent Move to Retain ALC Stock in Your Portfolio Now?
- Alcon Launches UNITY M, a Premium Ophthalmic Microscope Delivering Precise Control
- Are Options Traders Betting on a Big Move in Alcon Stock?
Compare Alcon AG with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Instruments & Supplies · 200 stocks
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Health Care sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Medical Instruments & Supplies stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Intuitive Surgical, Inc ISRG | $377.16 | $350.02 | −7% |
| EssilorLuxottica Société anonyme EL | €145.10 | €159.61 | +10% |
| Medline Inc MDLN | $32.11 | $11.65 | −64% |
| Becton, Dickinson and Company BDX | $185.92 | $100.46 | −46% |
| ResMed Inc RMD | A$31.90 | A$35.09 | +10% |
| West Pharmaceutical Services, Inc WST | $362.01 | $137.28 | −62% |
| Sartorius Stedim Biotech S.A DIM | €196.10 | €48.88 | −75% |
| Straumann Holding STMN | CHF 94.66 | CHF 45.50 | −52% |
| Sartorius Aktiengesellschaft SRT3 | €232.90 | €42.05 | −82% |
| Coloplast A/S COLOB | kr 420.10 | kr 382.22 | −9% |
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Key figures of Alcon AG
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