Alcon
ALC · Health Care Supplies
$70.17
0.7%Dentsply Sirona
XRAY · Health Care Supplies
$9.43
0.7%The short version
- Alcon is the larger business, with $10.4B of revenue in fiscal 2025 against $3.7B for Dentsply Sirona, about 2.8 times as much.
- Alcon grew revenue faster (4.9%, against −3.0%).
- Alcon kept more of each dollar of sales as operating profit (13.1% operating margin, against −11.5% operating margin).
- Alcon turned more of its sales into free cash flow (16.6% FCF margin, against 2.8% FCF margin).
- Alcon earned a higher return on the capital invested in it (4.6%, against −9.9%).
| Latest fiscal year | ALC · FY25 | XRAY · FY25 |
|---|---|---|
| Size | ||
| Market cap | $34.8B | $1.9B |
| Revenue | $10.4B | $3.7B |
| Free cash flow | $1.7B | $104M |
| Net income | $980M | −$598M |
| Growth | ||
| Revenue growth | 4.9% | −3.0% |
| 5-year growth | 8.8% | 2.0% |
| Share count change | −0.3% | −1.9% |
| Profitability | ||
| Gross margin | 55.2% | 50.0% |
| Operating margin | 13.1% | −11.5% |
| Net margin | 9.4% | −16.3% |
| FCF margin | 16.6% | 2.8% |
| Return on capital | 4.6% | −9.9% |
| Return on equity | 4.5% | −36.5% |
| Balance sheet | ||
| Net debt | $3.2B | $2.0B |
| Net debt / EBITDA | — | — |
| Dividends and buybacks | $842M | $128M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 6 | 6 |
FY16
ALC —
XRAY $0.0M
FY17
ALC $6.8B
XRAY $4.0B
FY18
ALC $7.2B
XRAY $4.0B
FY19
ALC $7.5B
XRAY $4.0B
FY20
ALC $6.8B
XRAY $3.3B
FY21
ALC $8.3B
XRAY $4.2B
FY22
ALC $8.7B
XRAY $3.9B
FY23
ALC $9.5B
XRAY $4.0B
FY24
ALC $9.9B
XRAY $3.8B
FY25
ALC $10.4B
XRAY $3.7B
ALC
XRAY
FY16
ALC —
XRAY —
FY17
ALC −1.1%
XRAY −39.1%
FY18
ALC −3.5%
XRAY −24.0%
FY19
ALC −2.5%
XRAY 8.8%
FY20
ALC −7.1%
XRAY −0.1%
FY21
ALC 7.0%
XRAY 14.4%
FY22
ALC 7.7%
XRAY −23.9%
FY23
ALC 11.0%
XRAY −2.1%
FY24
ALC 14.3%
XRAY −23.2%
FY25
ALC 13.1%
XRAY −11.5%
ALC
XRAY
FY16
ALC —
XRAY $438M
FY17
ALC $803M
XRAY $458M
FY18
ALC $616M
XRAY $317M
FY19
ALC $367M
XRAY $516M
FY20
ALC $344M
XRAY $562M
FY21
ALC $645M
XRAY $515M
FY22
ALC $581M
XRAY $368M
FY23
ALC $730M
XRAY $228M
FY24
ALC $1.6B
XRAY $281M
FY25
ALC $1.7B
XRAY $104M
ALC
XRAY
FY16
ALC —
XRAY 7.1%
FY17
ALC —
XRAY −14.4%
FY18
ALC —
XRAY −10.6%
FY19
ALC −0.7%
XRAY 4.3%
FY20
ALC −1.8%
XRAY −0.0%
FY21
ALC 2.4%
XRAY 6.9%
FY22
ALC 2.2%
XRAY −12.4%
FY23
ALC 4.4%
XRAY −1.3%
FY24
ALC 4.7%
XRAY −16.8%
FY25
ALC 4.6%
XRAY −9.9%
ALC
XRAY
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.