ALC vs. SOLV: Alcon vs. Solventum Stock Comparison

November 11, 2026

How do Alcon (ALC) and Solventum (SOLV) 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 Solventum (SOLV) are both classified in the Health Care Supplies sub-industry within the broader Health Care Equipment & Supplies industry, placing them in the closest GICS peer bucket.

Alcon (ALC) has been public since April 9, 2019, giving it a longer listed trading history, while Solventum (SOLV) listed on March 26, 2024 and still has a shorter public-market record.

Company profile comparison for Alcon (ALC) and Solventum (SOLV)
Profile Item	ALC	SOLV
Name	Alcon Inc.	Solventum Corporation
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 Supplies
Market Capitalization	36.23 billion USD	15.36 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	April 9, 2019	March 26, 2024
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ALC

SOLV

GSPC

Alcon (ALC) vs. Solventum (SOLV), 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 Solventum (SOLV). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Alcon (ALC) and Solventum (SOLV)
Metric	ALC	SOLV
Total Return (1Y)	1.20%	25.89%
Total Return (3Y, Annualized)	1.17%	--
Total Return (5Y, Annualized)	-2.77%	--

Risk Profile

Drawdown History

ALC

SOLV

GSPC

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

Risk Metrics

Risk profile metrics for Alcon (ALC) and Solventum (SOLV)
Metric	ALC	SOLV
Volatility (1Y, Annualized)	29.23%	30.06%
Beta (5Y)	0.84	0.62
Max Drawdown (5Y)	-37.93%	-39.98%
Avg. Volume (3M)	1.74M	1.05M

Risk-Adjusted Performance

Risk-Return Positioning

ALC and SOLV 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 Solventum (SOLV)
Metric	ALC	SOLV
Sharpe Ratio (1Y)	-0.11	0.72
Sortino Ratio (1Y)	-0.15	1.08

Profitability

ROE (TTM)

Both Alcon (ALC) at 2.94% and Solventum (SOLV) at 3.19% 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%

SOLV

Health Care Equipment & Services industry group

3.19%

Max: 47.61%
Q3: 14.36%
Median: 5.45%
SOLV: 3.19%
Q1: -10.67%
Min: -47.01%

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

Net Margin (TTM)

Both Alcon (ALC) at 5.92% and Solventum (SOLV) at 1.91% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

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%

SOLV

Health Care Equipment & Services industry group

1.91%

Max: 29.35%
Q3: 9.33%
Median: 2.18%
SOLV: 1.91%
Q1: -6.29%
Min: -28.46%

Alcon (ALC) vs. Solventum (SOLV): 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 Solventum (SOLV) at 6.82%, 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%

SOLV

Health Care Equipment & Services industry group

6.82%

Max: 35.43%
Q3: 14.14%
SOLV: 6.82%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

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

Profitability Metrics

Profitability metrics for Alcon (ALC) and Solventum (SOLV)
Metric	ALC	SOLV
ROE (TTM)	2.94%	3.19%
ROA (TTM)	2.80%	2.29%
Net Margin (TTM)	5.92%	1.91%
Operating Margin (TTM)	14.63%	6.82%
Gross Margin (TTM)	57.22%	55.13%

Growth

Revenue Growth

Alcon (ALC) at 4.94% is around its peer norm for revenue growth, while Solventum (SOLV) at 0.86% drops into the bottom quartile, signaling weaker demand or pricing momentum.

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

EPS Growth

Solventum (SOLV) at 221.74% 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. Solventum (SOLV): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Alcon (ALC) and Solventum (SOLV)
Metric	ALC	SOLV
Revenue Growth (YoY)	4.94%	0.86%
Revenue Growth (3Y CAGR)	6.06%	0.79%
EPS Growth (YoY)	-3.41%	221.74%
EPS Growth (3Y CAGR)	42.80%	4.51%

Financial Strength

Current Ratio (MRQ)

Alcon (ALC) at 2.09 keeps current ratio within its industry’s typical mid-range, while Solventum (SOLV) at 1.03 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for SOLV.

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

SOLV

Health Care Equipment & Services industry group

1.03

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
SOLV: 1.03
Min: 0.30

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

Debt / Equity (MRQ)

Alcon (ALC) at 0.25 carries an industry-typical debt-to-equity mix, while Solventum (SOLV) at 1.10 uses more debt funding than most peers.

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

SOLV

Health Care Equipment & Services industry group

1.10

Max: 1.88
SOLV: 1.10
Q3: 0.91
Median: 0.58
Q1: 0.16
Min: 0.00

Alcon (ALC) vs. Solventum (SOLV): 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 Solventum (SOLV)
Metric	ALC	SOLV
Current Ratio (MRQ)	2.09	1.03
Debt / Equity (MRQ)	0.25	1.10
Net Debt / EBITDA	1.60	4.66

Dividends

Dividend Yield (TTM)

Solventum (SOLV) 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%

SOLV

Health Care Equipment & Services industry group

0.00%

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

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

Dividend Payout Ratio (TTM)

Solventum (SOLV) 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%

SOLV

Health Care Equipment & Services industry group

0.00%

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

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

Dividend Metrics

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

Valuation

P/E Ratio (TTM)

Both look expensive on trailing earnings: Alcon (ALC) at 56.77 sits in the richer P/E ratio quartile, and Solventum (SOLV) at 101.55 is richer still, above its industry range.

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

SOLV

Health Care Equipment & Services industry group

101.55

SOLV: 101.55
Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
Min: 4.21

Alcon (ALC) vs. Solventum (SOLV): 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 Solventum (SOLV) at 1.88 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

SOLV

Health Care Equipment & Services industry group

1.88

Max: 8.80
Q3: 4.32
Median: 2.13
SOLV: 1.88
Q1: 1.10
Min: 0.03

Alcon (ALC) vs. Solventum (SOLV): 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 Solventum (SOLV) at 3.20 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

SOLV

Health Care Equipment & Services industry group

3.20

Max: 11.68
Q3: 6.12
SOLV: 3.20
Median: 3.00
Q1: 1.73
Min: -1.31

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

Valuation Metrics

Valuation metrics for Alcon (ALC) and Solventum (SOLV)
Metric	ALC	SOLV
P/E Ratio (TTM)	56.77	101.55
P/S Ratio (TTM)	3.34	1.88
P/B Ratio (MRQ)	1.68	3.20
Free Cash Flow Yield (TTM)	3.51%	1.31%