ALCON
ALC · NYSEOphthalmic Goods · Fiscal year ends Dec 31
ALCON reported revenue of $7.2B in the fiscal year ended Dec 2010, up 10.5% from the year before. Operating income was $2.5B, an operating margin of 34.5%, and net income was $2.2B. Operating cash flow of $2.4B less capital expenditure of $309M left free cash flow of $2.1B. It held more cash than debt (net cash $2.5B).
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 |
|---|---|---|---|---|
| Revenue | $5.6B | $6.3B | $6.5B | $7.2B |
| Cost of revenue | $1.4B | $1.5B | $1.6B | $1.7B |
| Gross profit | $4.2B | $4.8B | $4.9B | $5.5B |
| Research & development | $564M | $619M | $665M | $747M |
| Operating income | $1.9B | $2.2B | $2.3B | $2.5B |
| Interest expense | $50M | $51M | $16M | $9M |
| Pre-tax income | $1.9B | $2.1B | $2.3B | $2.5B |
| Income tax | $343M | $36M | $306M | $317M |
| Net income | $1.6B | $2B | $2B | $2.2B |
| Diluted EPS | 5.25 | 6.79 | 6.66 | 7.27 |
| Diluted shares | 302,162,019M | 302M | 301M | 304M |
Balance sheet
| Fiscal year | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 |
|---|---|---|---|---|
| Cash & equivalents | $2.1B | $2.4B | $3B | $2.5B |
| Receivables | – | $1.2B | $1.3B | $1.5B |
| Inventory | – | $574M | $626M | $693M |
| Current assets | – | $5.2B | $5.8B | $6.1B |
| Net PP&E | – | $1.1B | $1.3B | $1.4B |
| Goodwill | – | $645M | $688M | $833M |
| Total assets | – | $7.6B | $8.7B | $10.1B |
| Payables | – | $199M | $321M | $370M |
| Current liabilities | – | $2.2B | $2B | $1.8B |
| Short-term debt | – | $1M | $0 | $62M |
| Long-term debt | – | $61M | $56M | $0 |
| Shareholders' equity | $3.4B | $4.7B | $5.9B | $7.3B |
Cash flow
| Fiscal year | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 |
|---|---|---|---|---|
| Operating cash flow | $1.5B | $2B | $2.4B | $2.4B |
| Capital expenditure | $227M | $302M | $342M | $309M |
| Free cash flow | $1.2B | $1.7B | $2.1B | $2.1B |
| Depreciation & amortisation | $159M | $167M | $194M | $212M |
| Stock-based compensation | $84M | $83M | $74M | $78M |
| Acquisitions | $111M | $23M | $149M | $529M |
| Share buybacks | $1B | $127M | $7M | $33M |
| Dividends paid | $613M | $749M | $1B | $1B |
Key ratios
| Fiscal year | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 |
|---|---|---|---|---|
| Revenue growth (YoY) | – | 12.4% | 3.3% | 10.5% |
| Operating income growth (YoY) | – | 17.5% | 2.2% | 9.5% |
| EPS growth (YoY) | – | 29.3% | −1.9% | 9.2% |
| Gross margin | 75.0% | 76.6% | 75.2% | 76.7% |
| Operating margin | 33.6% | 35.2% | 34.8% | 34.5% |
| Net margin | 28.3% | 32.5% | 30.9% | 30.8% |
| Return on equityBlank when equity is negative | 47.0% | 43.6% | 34.0% | 30.5% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 41.3% | 33.7% | 29.9% |
| Free cash flow margin | 22.2% | 27.5% | 31.9% | 28.8% |
| Cash conversion (CFO ÷ net income) | 0.93x | 0.99x | 1.20x | 1.07x |
| Receivable days | – | 68 | 76 | 75 |
| Inventory days | – | 142 | 142 | 151 |
| Payable days | – | 49 | 73 | 81 |
| Interest cover | 37.7x | 43.4x | 141x | 275x |
| Debt ÷ equity | – | 0.01x | 0.01x | 0.01x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | −$2.4B | −$3B | −$2.5B |
| Current ratio | – | 2.38x | 2.95x | 3.39x |
Recent filings
More in Ophthalmic Goods
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.