Alcon vs Cooper Companies
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The short version
- Alcon is the larger business, with $10.4B of revenue in fiscal 2025 against $4.1B for Cooper Companies, about 2.5 times as much.
- Cooper Companies kept more of each dollar of sales as operating profit (16.7% operating margin, against 13.1%).
- Alcon turned more of its sales into free cash flow (16.6% FCF margin, against 10.6%).
| Latest fiscal year | ALC · FY25 | COO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $34.8B | $11.8B |
| Revenue | $10.4B | $4.1B |
| Free cash flow | $1.7B | $434M |
| Net income | $980M | $375M |
| Growth | ||
| Revenue growth | 4.9% | 5.1% |
| 5-year growth | 8.8% | 11.0% |
| Share count change | −0.3% | −0.2% |
| Profitability | ||
| Gross margin | 55.2% | 65.5% |
| Operating margin | 13.1% | 16.7% |
| Net margin | 9.4% | 9.2% |
| FCF margin | 16.6% | 10.6% |
| Return on capital | 4.6% | 4.3% |
| Return on equity | 4.5% | 4.6% |
| Balance sheet | ||
| Net debt | $3.2B | $2.4B |
| Net debt / EBITDA | — | 2.3x |
| Dividends and buybacks | $842M | $290M |
| Valuation & quality | ||
| P/E | — | 21.0x |
| Piotroski F-score | 6 | 5 |
Revenue
FY16
ALC —
COO $2.0B
FY17
ALC $6.8B
COO $2.1B
FY18
ALC $7.2B
COO $2.5B
FY19
ALC $7.5B
COO $2.7B
FY20
ALC $6.8B
COO $2.4B
FY21
ALC $8.3B
COO $2.9B
FY22
ALC $8.7B
COO $3.3B
FY23
ALC $9.5B
COO $3.6B
FY24
ALC $9.9B
COO $3.9B
FY25
ALC $10.4B
COO $4.1B
ALC
COO
Operating margin
FY16
ALC —
COO 16.5%
FY17
ALC −1.1%
COO 20.1%
FY18
ALC −3.5%
COO 15.9%
FY19
ALC −2.5%
COO 20.6%
FY20
ALC −7.1%
COO 12.8%
FY21
ALC 7.0%
COO 17.3%
FY22
ALC 7.7%
COO 15.3%
FY23
ALC 11.0%
COO 14.8%
FY24
ALC 14.3%
COO 18.1%
FY25
ALC 13.1%
COO 16.7%
ALC
COO
Free cash flow
FY16
ALC —
COO $357M
FY17
ALC $803M
COO $466M
FY18
ALC $616M
COO $475M
FY19
ALC $367M
COO $421M
FY20
ALC $344M
COO $176M
FY21
ALC $645M
COO $524M
FY22
ALC $581M
COO $450M
FY23
ALC $730M
COO $215M
FY24
ALC $1.6B
COO $288M
FY25
ALC $1.7B
COO $434M
ALC
COO
Return on capital
FY16
ALC —
COO 7.4%
FY17
ALC —
COO 9.7%
FY18
ALC —
COO 4.2%
FY19
ALC −0.7%
COO 10.6%
FY20
ALC −1.8%
COO 5.6%
FY21
ALC 2.4%
COO 7.6%
FY22
ALC 2.2%
COO 4.6%
FY23
ALC 4.4%
COO 3.8%
FY24
ALC 4.7%
COO 4.6%
FY25
ALC 4.6%
COO 4.3%
ALC
COO
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.