Alcon vs Dentsply Sirona
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KIRA’s take AI analyst
I put Alcon and Dentsply Sirona side by side, using each one’s latest annual report. Here is what stands out:
- 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%).
- Alcon turned more of its sales into free cash flow (16.6% FCF margin, against 2.8%).
- Alcon earned a higher return on the capital invested in it (4.6%, against −9.9%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Alcon
ALC
8/10
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equity
Dentsply Sirona
XRAY
1/10
Share count change
Side by side
Best in the row
| Latest fiscal year | ALC FY25 | XRAY FY25 |
|---|---|---|
| Size | ||
| Market cap | $34.7B | $1.8B |
| 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 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.