ALC vs. PEN: Alcon vs. Penumbra Stock Comparison

November 11, 2026

How do Alcon (ALC) and Penumbra (PEN) 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 Penumbra (PEN) both belong to the Health Care Equipment & Supplies industry, though ALC is classified under Health Care Supplies while PEN falls under Health Care Equipment.

Company profile comparison for Alcon (ALC) and Penumbra (PEN)
Profile Item	ALC	PEN
Name	Alcon Inc.	Penumbra 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	12.58 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	April 9, 2019	September 18, 2015
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ALC

PEN

GSPC

Alcon (ALC) vs. Penumbra (PEN), 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 Penumbra (PEN). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Alcon (ALC) and Penumbra (PEN)
Metric	ALC	PEN
Total Return (1Y)	1.20%	20.52%
Total Return (3Y, Annualized)	1.17%	20.38%
Total Return (5Y, Annualized)	-2.77%	3.15%

Risk Profile

Drawdown History

ALC

PEN

GSPC

Alcon (ALC) vs. Penumbra (PEN), 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 Penumbra (PEN). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Alcon (ALC) and Penumbra (PEN)
Metric	ALC	PEN
Volatility (1Y, Annualized)	29.23%	19.78%
Beta (5Y)	0.84	0.68
Max Drawdown (5Y)	-37.93%	-59.60%
Avg. Volume (3M)	1.74M	348.64K

Risk-Adjusted Performance

Risk-Return Positioning

ALC and PEN 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 Penumbra (PEN)
Metric	ALC	PEN
Sharpe Ratio (1Y)	-0.11	0.82
Sortino Ratio (1Y)	-0.15	1.56

Profitability

ROE (TTM)

Both Alcon (ALC) at 2.94% and Penumbra (PEN) at 10.67% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

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%

PEN

Health Care Equipment & Services industry group

10.67%

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

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

Net Margin (TTM)

Penumbra (PEN) at 10.06% 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%

PEN

Health Care Equipment & Services industry group

10.06%

Max: 29.35%
PEN: 10.06%
Q3: 9.33%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

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

Operating Margin (TTM)

Alcon (ALC) at 14.63% operates in the top operating margin quartile, ahead of Penumbra (PEN) at 12.37%, which runs around its industry’s norm.

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%

PEN

Health Care Equipment & Services industry group

12.37%

Max: 35.43%
Q3: 14.14%
PEN: 12.37%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

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

Profitability Metrics

Profitability metrics for Alcon (ALC) and Penumbra (PEN)
Metric	ALC	PEN
ROE (TTM)	2.94%	10.67%
ROA (TTM)	2.80%	6.28%
Net Margin (TTM)	5.92%	10.06%
Operating Margin (TTM)	14.63%	12.37%
Gross Margin (TTM)	57.22%	67.99%

Growth

Revenue Growth

Both Alcon (ALC) at 4.94% and Penumbra (PEN) at 17.50% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Alcon (ALC) vs. Penumbra (PEN): A comparison of their Revenue Growth across different time periods.

EPS Growth

Penumbra (PEN) at 1,155.56% clears its industry range for EPS growth, a much stronger earnings trajectory than Alcon (ALC) at -3.41%, which is closer to a typical peer reading.

Alcon (ALC) vs. Penumbra (PEN): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Alcon (ALC) and Penumbra (PEN)
Metric	ALC	PEN
Revenue Growth (YoY)	4.94%	17.50%
Revenue Growth (3Y CAGR)	6.06%	18.33%
EPS Growth (YoY)	-3.41%	1,155.56%
EPS Growth (3Y CAGR)	42.80%	--

Financial Strength

Current Ratio (MRQ)

Alcon (ALC) at 2.09 keeps current ratio within its industry’s typical mid-range, while Penumbra (PEN) at 5.89 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

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

PEN

Health Care Equipment & Services industry group

5.89

Max: 7.59
PEN: 5.89
Q3: 4.00
Median: 1.98
Q1: 1.37
Min: 0.30

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

Debt / Equity (MRQ)

Penumbra (PEN) at 0.13 keeps leverage in the lower industry quartile, while Alcon (ALC) at 0.25 runs a more typical debt-to-equity mix.

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

PEN

Health Care Equipment & Services industry group

0.13

Max: 1.88
Q3: 0.91
Median: 0.58
Q1: 0.16
PEN: 0.13
Min: 0.00

Alcon (ALC) vs. Penumbra (PEN): 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 Penumbra (PEN)
Metric	ALC	PEN
Current Ratio (MRQ)	2.09	5.89
Debt / Equity (MRQ)	0.25	0.13
Net Debt / EBITDA	1.60	-2.22

Dividends

Dividend Yield (TTM)

Penumbra (PEN) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Alcon (ALC) reports a yield of 0.46%, ranking against industry peers normally.

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%

PEN

Health Care Equipment & Services industry group

0.00%

PEN: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Penumbra (PEN) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Alcon (ALC) reports a payout of 26.56%, ranking against industry peers normally.

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%

PEN

Health Care Equipment & Services industry group

0.00%

PEN: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Alcon (ALC) and Penumbra (PEN)
Metric	ALC	PEN
Dividend Yield (TTM)	0.46%	0.00%
Dividend Payout Ratio (TTM)	26.56%	0.00%

Valuation

P/E Ratio (TTM)

Both Alcon (ALC) at 56.77 and Penumbra (PEN) at 80.41 sit in the richer earnings-multiple quartile for P/E ratio, so investors are paying more for TTM earnings than they pay for typical peers.

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

PEN

Health Care Equipment & Services industry group

80.41

PEN: 80.41
Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
Min: 4.21

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

P/S Ratio (TTM)

Alcon (ALC) at 3.34 is priced about in line with its industry on P/S ratio, while Penumbra (PEN) at 8.06 sits in the pricier quartile — PEN costs more per dollar of sales.

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

PEN

Health Care Equipment & Services industry group

8.06

Max: 8.80
PEN: 8.06
Q3: 4.32
Median: 2.13
Q1: 1.10
Min: 0.03

Alcon (ALC) vs. Penumbra (PEN): 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 looks cheap against book in the lower P/B ratio quartile, while Penumbra (PEN) at 7.95 carries a premium in the upper quartile — a clear price-to-book gap.

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

PEN

Health Care Equipment & Services industry group

7.95

Max: 11.68
PEN: 7.95
Q3: 6.12
Median: 3.00
Q1: 1.73
Min: -1.31

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

Valuation Metrics

Valuation metrics for Alcon (ALC) and Penumbra (PEN)
Metric	ALC	PEN
P/E Ratio (TTM)	56.77	80.41
P/S Ratio (TTM)	3.34	8.06
P/B Ratio (MRQ)	1.68	7.95
Free Cash Flow Yield (TTM)	3.51%	1.32%