ALC vs. GEHC: Alcon vs. GE HealthCare Stock Comparison

November 11, 2026

How do Alcon (ALC) and GE HealthCare (GEHC) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Alcon (ALC) and GE HealthCare (GEHC) both belong to the Health Care Equipment & Supplies industry, though ALC is classified under Health Care Supplies while GEHC falls under Health Care Equipment.

Company profile comparison for Alcon (ALC) and GE HealthCare (GEHC)
Profile Item	ALC	GEHC
Name	Alcon Inc.	GE HealthCare Technologies Inc.
Country/Region	Switzerland	United States
GICS Sector	Health Care	Health Care
GICS Industry Group	Health Care Equipment & Services	Health Care Equipment & Services
GICS Industry	Health Care Equipment & Supplies	Health Care Equipment & Supplies
GICS Sub-Industry	Health Care Supplies	Health Care Equipment
Market Capitalization	36.23 billion USD	37.25 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	April 9, 2019	December 15, 2022
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ALC

GEHC

GSPC

Alcon (ALC) vs. GE HealthCare (GEHC), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Alcon (ALC) and GE HealthCare (GEHC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Alcon (ALC) and GE HealthCare (GEHC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Alcon (ALC) and GE HealthCare (GEHC)
Metric	ALC	GEHC
Total Return (1Y)	1.20%	14.21%
Total Return (3Y, Annualized)	1.17%	7.01%
Total Return (5Y, Annualized)	-2.77%	--

Risk Profile

Drawdown History

ALC

GEHC

GSPC

Alcon (ALC) vs. GE HealthCare (GEHC), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Alcon (ALC) and GE HealthCare (GEHC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Alcon (ALC) and GE HealthCare (GEHC)
Metric	ALC	GEHC
Volatility (1Y, Annualized)	29.23%	35.93%
Beta (5Y)	0.84	0.69
Max Drawdown (5Y)	-37.93%	-37.35%
Avg. Volume (3M)	1.74M	3.56M

Risk-Adjusted Performance

Risk-Return Positioning

ALC and GEHC are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Alcon (ALC) and GE HealthCare (GEHC)
Metric	ALC	GEHC
Sharpe Ratio (1Y)	-0.11	0.28
Sortino Ratio (1Y)	-0.15	0.41

Profitability

ROE (TTM)

GE HealthCare (GEHC) at 20.01% sits in the top ROE quartile, while Alcon (ALC) at 2.94% is closer to the peer norm — stronger capital efficiency for GEHC.

ALC

Health Care Equipment & Services industry group

2.94%

Max: 47.61%
Q3: 14.36%
Median: 5.45%
ALC: 2.94%
Q1: -10.67%
Min: -47.01%

GEHC

Health Care Equipment & Services industry group

20.01%

Max: 47.61%
GEHC: 20.01%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

Alcon (ALC) vs. GE HealthCare (GEHC): A comparison of their ROE against the Health Care Equipment & Services industry group benchmark.

Net Margin (TTM)

GE HealthCare (GEHC) at 9.95% retains a top-quartile share of revenue as profit, ahead of Alcon (ALC) at 5.92%, which keeps about the industry-typical share.

ALC

Health Care Equipment & Services industry group

5.92%

Max: 29.35%
Q3: 9.33%
ALC: 5.92%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

GEHC

Health Care Equipment & Services industry group

9.95%

Max: 29.35%
GEHC: 9.95%
Q3: 9.33%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

Alcon (ALC) vs. GE HealthCare (GEHC): A comparison of their net margin against the Health Care Equipment & Services industry group benchmark.

Operating Margin (TTM)

Both Alcon (ALC) at 14.63% and GE HealthCare (GEHC) at 15.33% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

ALC

Health Care Equipment & Services industry group

14.63%

Max: 35.43%
ALC: 14.63%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

GEHC

Health Care Equipment & Services industry group

15.33%

Max: 35.43%
GEHC: 15.33%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

Alcon (ALC) vs. GE HealthCare (GEHC): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Alcon (ALC) and GE HealthCare (GEHC)
Metric	ALC	GEHC
ROE (TTM)	2.94%	20.01%
ROA (TTM)	2.80%	4.99%
Net Margin (TTM)	5.92%	9.95%
Operating Margin (TTM)	14.63%	15.33%
Gross Margin (TTM)	57.22%	39.29%

Growth

Revenue Growth

Both Alcon (ALC) at 4.94% and GE HealthCare (GEHC) at 4.84% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Alcon (ALC) vs. GE HealthCare (GEHC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Alcon (ALC) at -3.41% and GE HealthCare (GEHC) at 4.84% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Alcon (ALC) vs. GE HealthCare (GEHC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Alcon (ALC) and GE HealthCare (GEHC)
Metric	ALC	GEHC
Revenue Growth (YoY)	4.94%	4.84%
Revenue Growth (3Y CAGR)	6.06%	3.99%
EPS Growth (YoY)	-3.41%	4.84%
EPS Growth (3Y CAGR)	42.80%	-0.58%

Financial Strength

Current Ratio (MRQ)

Alcon (ALC) at 2.09 keeps current ratio within its industry’s typical mid-range, while GE HealthCare (GEHC) at 1.30 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for GEHC.

ALC

Health Care Equipment & Services industry group

2.09

Max: 7.59
Q3: 4.00
ALC: 2.09
Median: 1.98
Q1: 1.37
Min: 0.30

GEHC

Health Care Equipment & Services industry group

1.30

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
GEHC: 1.30
Min: 0.30

Alcon (ALC) vs. GE HealthCare (GEHC): A comparison of their current ratio against the Health Care Equipment & Services industry group benchmark.

Debt / Equity (MRQ)

Both Alcon (ALC) at 0.25 and GE HealthCare (GEHC) at 0.88 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

ALC

Health Care Equipment & Services industry group

0.25

Max: 1.88
Q3: 0.91
Median: 0.58
ALC: 0.25
Q1: 0.16
Min: 0.00

GEHC

Health Care Equipment & Services industry group

0.88

Max: 1.88
Q3: 0.91
GEHC: 0.88
Median: 0.58
Q1: 0.16
Min: 0.00

Alcon (ALC) vs. GE HealthCare (GEHC): A comparison of their debt-to-equity ratio against the Health Care Equipment & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Alcon (ALC) and GE HealthCare (GEHC)
Metric	ALC	GEHC
Current Ratio (MRQ)	2.09	1.30
Debt / Equity (MRQ)	0.25	0.88
Net Debt / EBITDA	1.60	2.11

Dividends

Dividend Yield (TTM)

Both Alcon (ALC) at 0.46% and GE HealthCare (GEHC) at 0.17% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.

ALC

Health Care Equipment & Services industry group

0.46%

ALC: 0.46%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

GEHC

Health Care Equipment & Services industry group

0.17%

GEHC: 0.17%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Alcon (ALC) vs. GE HealthCare (GEHC): A comparison of their dividend yield against the Health Care Equipment & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Both Alcon (ALC) at 26.56% and GE HealthCare (GEHC) at 2.96% pay out more of their earnings than any of their industry peers — the thinnest cover in their groups, so dividend headroom deserves attention.

ALC

Health Care Equipment & Services industry group

26.56%

ALC: 26.56%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

GEHC

Health Care Equipment & Services industry group

2.96%

GEHC: 2.96%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Alcon (ALC) vs. GE HealthCare (GEHC): A comparison of their payout ratio against the Health Care Equipment & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Alcon (ALC) and GE HealthCare (GEHC)
Metric	ALC	GEHC
Dividend Yield (TTM)	0.46%	0.17%
Dividend Payout Ratio (TTM)	26.56%	2.96%

Valuation

P/E Ratio (TTM)

GE HealthCare (GEHC) at 17.42 sits in the cheaper P/E ratio quartile, while Alcon (ALC) at 56.77 sits in the richer quartile — a clear split in what investors pay for each dollar of trailing earnings.

ALC

Health Care Equipment & Services industry group

56.77

Max: 80.41
ALC: 56.77
Q3: 47.62
Median: 29.93
Q1: 21.19
Min: 4.21

GEHC

Health Care Equipment & Services industry group

17.42

Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
GEHC: 17.42
Min: 4.21

Alcon (ALC) vs. GE HealthCare (GEHC): A comparison of their P/E ratio against the Health Care Equipment & Services industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Alcon (ALC) at 3.34 and GE HealthCare (GEHC) at 1.72 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

ALC

Health Care Equipment & Services industry group

3.34

Max: 8.80
Q3: 4.32
ALC: 3.34
Median: 2.13
Q1: 1.10
Min: 0.03

GEHC

Health Care Equipment & Services industry group

1.72

Max: 8.80
Q3: 4.32
Median: 2.13
GEHC: 1.72
Q1: 1.10
Min: 0.03

Alcon (ALC) vs. GE HealthCare (GEHC): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

Alcon (ALC) at 1.68 sits in the lower P/B ratio quartile against book while GE HealthCare (GEHC) at 3.21 is valued near its industry’s middle — ALC is cheaper on assets, though weigh it against ROE and asset quality.

ALC

Health Care Equipment & Services industry group

1.68

Max: 11.68
Q3: 6.12
Median: 3.00
Q1: 1.73
ALC: 1.68
Min: -1.31

GEHC

Health Care Equipment & Services industry group

3.21

Max: 11.68
Q3: 6.12
GEHC: 3.21
Median: 3.00
Q1: 1.73
Min: -1.31

Alcon (ALC) vs. GE HealthCare (GEHC): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Alcon (ALC) and GE HealthCare (GEHC)
Metric	ALC	GEHC
P/E Ratio (TTM)	56.77	17.42
P/S Ratio (TTM)	3.34	1.72
P/B Ratio (MRQ)	1.68	3.21
Free Cash Flow Yield (TTM)	3.51%	4.92%