Alcon AG
NYSE: ALC · HEALTHCARE · MEDICAL INSTRUMENTS & SUPPLIES
Updated 2026-04-29
Alcon AG (ALC) Stock Valuation Analysis
Fair value estimate, historical valuation range, and quality signals for ALC.
Current price exceeds what fundamentals support. Risk/reward skewed unfavorably.
ALC historical valuation range
Where current P/E sits in ALC's own 5Y range.
ALC intrinsic value (DCF)
DCF-based fair value estimate vs current market price.
Intrinsic value calculated using discounted cash flow (DCF) model based on projected free cash flows, discount rate, and terminal growth assumptions. A positive margin of safety indicates the current price is below estimated fair value, providing a cushion against estimation error.
ALC valuation signals
Quick-read green flags, caution flags, and risks based on current metrics.
P/E Ratio — History
Current: 36.77x
P/S Ratio — History
Current: 3.50x
Is ALC overvalued in 2026?
Alcon AG (ALC) currently trades at $72.81 per share with a market capitalization of $36,392,632,000.00. Based on our multi-factor framework, the stock appears richly valued with a Smart Value Score of 49/100. This score blends growth quality, financial health, and price attractiveness into a single institutional-grade read.
The stock trades at a P/E ratio of 36.8x, below its 5-year median of 41.4x. The PEG ratio of 1.64 points to a price that reasonably reflects expected earnings growth.
Looking at its own history, ALC is currently trading cheaper than 92% of the last 5Y on P/E. This places it in the 8th percentile of its historical range, a level that has historically coincided with attractive entry points.
Our discounted cash flow model estimates ALC's intrinsic value at $90.63 per share, against the current market price of $72.81. This implies a margin of safety of +12.40%. The stock is priced close to its estimated fair value, offering limited upside without further operational improvement.
The Piotroski F-Score of 4/9 puts financial quality in a middling range, neither a standout strength nor an obvious red flag.
Bottom line: ALC appears richly valued on our framework, with a Smart Value Score of 49/100. At current levels the risk/reward is skewed against the buyer. A materially lower price or significant operational improvement would be needed to change the picture.
Frequently asked questions
Is ALC overvalued in 2026?
Based on a Smart Value Score of 49/100, ALC appears overvalued. Current price exceeds what fundamentals currently justify.
What is ALC's fair value?
Our DCF model estimates ALC's intrinsic value at $90.63 per share, versus the current price of $72.81. This produces a margin of safety of +12.40%.
What P/E ratio does ALC trade at?
ALC trades at a P/E of 36.8x on trailing twelve-month earnings, compared to its 5-year median of 41.4x.
Is ALC a buy based on valuation?
WallStSmart does not issue buy or sell recommendations. Our Smart Value Score of 49/100 reflects the combined read on growth, quality, and price. The profile skews cautious. Consider waiting for a better price or clearer operational improvement.
How does ALC's valuation compare to its history?
On P/E, ALC currently sits in the 8th percentile of its own 5Y range. That is historically cheap relative to where it has traded over the period.
What is ALC's Smart Value Score?
ALC's Smart Value Score is 49/100. The Smart Value Score is a proprietary WallStSmart metric blending growth quality, financial health, and valuation attractiveness into a single 0-100 read. Scores above 75 are rare and indicate strong multi-factor alignment.