ALC vs. UNH: Alcon vs. UnitedHealth Stock Comparison

November 11, 2026

How do Alcon (ALC) and UnitedHealth (UNH) 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 UnitedHealth (UNH) both fall under the Health Care Equipment & Services industry group, but ALC is classified in Health Care Equipment & Supplies while UNH is classified in Health Care Providers & Services.

Company profile comparison for Alcon (ALC) and UnitedHealth (UNH)
Profile Item	ALC	UNH
Name	Alcon Inc.	UnitedHealth Group 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 Providers & Services
GICS Sub-Industry	Health Care Supplies	Managed Health Care
Market Capitalization	36.23 billion USD	353.17 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	April 9, 2019	October 17, 1984
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ALC

UNH

GSPC

Alcon (ALC) vs. UnitedHealth (UNH), 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 UnitedHealth (UNH). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Alcon (ALC) and UnitedHealth (UNH)
Metric	ALC	UNH
Total Return (1Y)	1.20%	26.08%
Total Return (3Y, Annualized)	1.17%	-7.69%
Total Return (5Y, Annualized)	-2.77%	-1.26%

Risk Profile

Drawdown History

ALC

UNH

GSPC

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

Risk Metrics

Risk profile metrics for Alcon (ALC) and UnitedHealth (UNH)
Metric	ALC	UNH
Volatility (1Y, Annualized)	29.23%	34.76%
Beta (5Y)	0.84	0.52
Max Drawdown (5Y)	-37.93%	-61.39%
Avg. Volume (3M)	1.74M	5.13M

Risk-Adjusted Performance

Risk-Return Positioning

ALC and UNH 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 UnitedHealth (UNH)
Metric	ALC	UNH
Sharpe Ratio (1Y)	-0.11	0.63
Sortino Ratio (1Y)	-0.15	0.86

Profitability

ROE (TTM)

UnitedHealth (UNH) at 15.77% sits in the top ROE quartile, while Alcon (ALC) at 2.94% is closer to the peer norm — stronger capital efficiency for UNH.

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%

UNH

Health Care Equipment & Services industry group

15.77%

Max: 47.61%
UNH: 15.77%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

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

Net Margin (TTM)

Both Alcon (ALC) at 5.92% and UnitedHealth (UNH) at 3.53% 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%

UNH

Health Care Equipment & Services industry group

3.53%

Max: 29.35%
Q3: 9.33%
UNH: 3.53%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

Alcon (ALC) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) at 5.82%, 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%

UNH

Health Care Equipment & Services industry group

5.82%

Max: 35.43%
Q3: 14.14%
Median: 6.81%
UNH: 5.82%
Q1: -0.28%
Min: -16.29%

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

Profitability Metrics

Profitability metrics for Alcon (ALC) and UnitedHealth (UNH)
Metric	ALC	UNH
ROE (TTM)	2.94%	15.77%
ROA (TTM)	2.80%	5.24%
Net Margin (TTM)	5.92%	3.53%
Operating Margin (TTM)	14.63%	5.82%
Gross Margin (TTM)	57.22%	20.05%

Growth

Revenue Growth

Both Alcon (ALC) at 4.94% and UnitedHealth (UNH) at 11.81% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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

EPS Growth

Both Alcon (ALC) at -3.41% and UnitedHealth (UNH) at -14.70% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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

Growth Metrics

Growth metrics for Alcon (ALC) and UnitedHealth (UNH)
Metric	ALC	UNH
Revenue Growth (YoY)	4.94%	11.81%
Revenue Growth (3Y CAGR)	6.06%	11.35%
EPS Growth (YoY)	-3.41%	-14.70%
EPS Growth (3Y CAGR)	42.80%	-14.52%

Financial Strength

Current Ratio (MRQ)

Alcon (ALC) at 2.09 keeps current ratio within its industry’s typical mid-range, while UnitedHealth (UNH) at 0.74 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for UNH.

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

UNH

Health Care Equipment & Services industry group

0.74

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
UNH: 0.74
Min: 0.30

Alcon (ALC) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) at 0.70 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

UNH

Health Care Equipment & Services industry group

0.70

Max: 1.88
Q3: 0.91
UNH: 0.70
Median: 0.58
Q1: 0.16
Min: 0.00

Alcon (ALC) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH)
Metric	ALC	UNH
Current Ratio (MRQ)	2.09	0.74
Debt / Equity (MRQ)	0.25	0.70
Net Debt / EBITDA	1.60	1.58

Dividends

Dividend Yield (TTM)

Both Alcon (ALC) at 0.46% and UnitedHealth (UNH) at 2.29% 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%

UNH

Health Care Equipment & Services industry group

2.29%

UNH: 2.29%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Alcon (ALC) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) at 51.71% 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%

UNH

Health Care Equipment & Services industry group

51.71%

UNH: 51.71%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Alcon (ALC) and UnitedHealth (UNH)
Metric	ALC	UNH
Dividend Yield (TTM)	0.46%	2.29%
Dividend Payout Ratio (TTM)	26.56%	51.71%

Valuation

P/E Ratio (TTM)

UnitedHealth (UNH) at 22.50 is near its industry’s usual P/E ratio, while Alcon (ALC) at 56.77 sits in the richer quartile — ALC needs stronger growth or earnings quality to justify the premium.

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

UNH

Health Care Equipment & Services industry group

22.50

Max: 80.41
Q3: 47.62
Median: 29.93
UNH: 22.50
Q1: 21.19
Min: 4.21

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

P/S Ratio (TTM)

UnitedHealth (UNH) at 0.78 sits in the cheaper P/S ratio quartile while Alcon (ALC) at 3.34 prices around its industry’s middle — UNH costs less per dollar of sales, though read it alongside growth and margins.

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

UNH

Health Care Equipment & Services industry group

0.78

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
UNH: 0.78
Min: 0.03

Alcon (ALC) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) at 3.60 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

UNH

Health Care Equipment & Services industry group

3.60

Max: 11.68
Q3: 6.12
UNH: 3.60
Median: 3.00
Q1: 1.73
Min: -1.31

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

Valuation Metrics

Valuation metrics for Alcon (ALC) and UnitedHealth (UNH)
Metric	ALC	UNH
P/E Ratio (TTM)	56.77	22.50
P/S Ratio (TTM)	3.34	0.78
P/B Ratio (MRQ)	1.68	3.60
Free Cash Flow Yield (TTM)	3.51%	7.50%