ALC (Alcon AG) vs Swiss Market Index Comparison

ALC

Swiss Market Index

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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ALC

Swiss Market Index

Difference

1Y 3Y 5Y 10Y 15Y 20Y

ALC

Swiss Market Index

Add Stock

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

Select Stock to Compare

Swiss Market Index

ALC

7741

COLO B

ALGN

300832

Add Stock

1Y 3Y 5Y 10Y 15Y 20Y

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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Alcon AG
Glance View

Market Cap

37.8B CHF

Industry

Health Care

Alcon AG, headquartered in Geneva, Switzerland, emerges as a global leader in eye care, having spun off from Novartis in 2019 to operate independently. The company traces its roots back to a small pharmacy established in Fort Worth, Texas, in 1945, gradually expanding under the strategic vision of its founders. Today, Alcon stands at the intersection of innovation and necessity, catering to a world increasingly aware of eye health. The firm specializes in two main sectors: Surgical and Vision Care. In the Surgical division, Alcon offers advanced technologies and devices for ophthalmic surgery, encompassing cataract, retinal, and refractive procedures. Through these innovations, Alcon not only enhances patient outcomes but also streamlines operations for eye care professionals, carving out a significant market share in surgical solutions. Meanwhile, the Vision Care segment thrives by addressing the burgeoning demand for contact lenses and ocular health products. Alcon’s portfolio features daily disposable and reusable lenses, supported by innovative technologies that prioritize comfort and clarity of vision. Additionally, the company provides comprehensive eye care products, including lens care solutions, which enhance user satisfaction and ensure sustained demand. Alcon’s revenue model hinges on its ability to deliver cutting-edge products that meet the evolving needs of consumers and professionals alike. Through strategic investments in research and development and a strong distribution network, Alcon perpetually reinforces its market presence, securing its position as a formidable player in the eye care industry.

View ALC Analysis

ALC Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

JP		Hoya Corp TSE:7741	Add
DK		Coloplast A/S CSE:COLO B	Add
US		Align Technology Inc NASDAQ:ALGN	Add
CN		Shenzhen New Industries Biomedical Engineering Co Ltd SZSE:300832	Add
KR	H	HLB Inc KOSDAQ:028300	Add
US		Lantheus Holdings Inc NASDAQ:LNTH	Add
CA		Bausch + Lomb Corp NYSE:BLCO	Add
UK		ConvaTec Group PLC LSE:CTEC	Add
US		Merit Medical Systems Inc NASDAQ:MMSI	Add
CH		Ypsomed Holding AG SIX:YPSN	Add

JP		Hoya Corp TSE:7741	Select
DK		Coloplast A/S CSE:COLO B	Select
US		Align Technology Inc NASDAQ:ALGN	Select
CN		Shenzhen New Industries Biomedical Engineering Co Ltd SZSE:300832	Select
KR	H	HLB Inc KOSDAQ:028300	Select
US		Lantheus Holdings Inc NASDAQ:LNTH	Select
CA		Bausch + Lomb Corp NYSE:BLCO	Select
UK		ConvaTec Group PLC LSE:CTEC	Select
US		Merit Medical Systems Inc NASDAQ:MMSI	Select
CH		Ypsomed Holding AG SIX:YPSN	Select

JP		Hoya Corp TSE:7741	Add
DK		Coloplast A/S CSE:COLO B	Add
US		Align Technology Inc NASDAQ:ALGN	Add
CN		Shenzhen New Industries Biomedical Engineering Co Ltd SZSE:300832	Add
KR	H	HLB Inc KOSDAQ:028300	Add
US		Lantheus Holdings Inc NASDAQ:LNTH	Add
CA		Bausch + Lomb Corp NYSE:BLCO	Add
UK		ConvaTec Group PLC LSE:CTEC	Add
US		Merit Medical Systems Inc NASDAQ:MMSI	Add
CH		Ypsomed Holding AG SIX:YPSN	Add

CA	A	Advance Lithium Corp XTSX:AALI	Add
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NL	N	Nepi Rockcastle NV JSE:NRP	Add
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US	B	Baker Hughes Co NASDAQ:BKR	Add
ID		Amman Mineral Internasional Tbk PT IDX:AMMN	Add
US	R	Reddit Inc NYSE:RDDT	Add
CH	G	Galderma Group AG SIX:GALD	Add
US		Halliburton Co NYSE:HAL	Add
IN		Jio Financial Services Ltd NSE:JIOFIN	Add

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ALC

vs

Swiss Market Index

Stocks Performance
ALC vs Swiss Market Index

Performance Gap
ALC vs Swiss Market Index

Performance By Year
ALC vs Swiss Market Index

Competitors Performance
Alcon AG vs Peers

Alcon AG
Glance View

Company

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ALC vs Swiss Market Index

Stocks Performance ALC vs Swiss Market Index

Performance Gap ALC vs Swiss Market Index

Performance By Year ALC vs Swiss Market Index

Competitors Performance Alcon AG vs Peers

Alcon AG Glance View

Company

Help

Tools

Stocks

ALC

vs

Swiss Market Index

Stocks Performance
ALC vs Swiss Market Index

Performance Gap
ALC vs Swiss Market Index

Performance By Year
ALC vs Swiss Market Index

Competitors Performance
Alcon AG vs Peers

Alcon AG
Glance View