ALC
Alcon Inc.
ALC's outlook is improving, though it still trails on the overall score.
LLY
Eli Lilly and Company
LLY has the edge over ALC overall, supported by stronger modeled upside and stronger fundamentals.
ALC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Healthy |
ALC's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
ALC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 19x | $71.83 | — |
| Cheap | 39x | $50.05 | -30% |
| Fair | 48x | $62.50 | -13% |
| Current | 55x | $71.83 | — |
| Expensive | 108x | $140 | +95% |
Historical ranges are pointers, not guarantees.
ALC has the edge over LLY in the historical PE scenario, which offers more potential upside but is not a forecast.
LLY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 27x | $845 | -41% |
| Forward | 30x | $1,427 | — |
| Current | 46x | $1,427 | — |
| Fair | 48x | $1,466 | +2.7% |
| Expensive | 85x | $2,612 | +83% |
Historical ranges are pointers, not guarantees.
LLY's PE is in its fair range at 46x. If earnings grow as analysts expect, today's price would be 30x next year's earnings, in its cheap range.
ALC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for ALC, with profitability improving.
LLY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for LLY, with profitability improving.
ALC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.85 | +196% |
| Q2 2026 | $1.30 | -40% |
| Q1 2026 | $1.65 | -27% |
| Q4 2025 | $1.97 | -3.9% |
| Q3 2025 | $2.10 | -11% |
| Q2 2025 | $2.15 | -3.6% |
| Q1 2025 | $2.25 | +6.1% |
| Q4 2024 | $2.05 | +4.1% |
| Q3 2024 | $2.35 | +161% |
ALC's earnings per share have fallen from their peak: $1.30 over the past year, against $2.35 in late 2024.
LLY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $46.82 | +52% |
| Q3 2026 | $30.81 | +51% |
| Q2 2026 | $29.80 | +95% |
| Q1 2026 | $28.15 | +129% |
| Q4 2025 | $22.95 | +96% |
| Q3 2025 | $20.44 | +121% |
| Q2 2025 | $15.30 | +88% |
| Q1 2025 | $12.29 | +81% |
| Q4 2024 | $11.71 | +102% |
LLY has the edge over ALC on earnings, with more consistent year-over-year improvement.
ALC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $2.8B | +8.7% |
| Q1 2026 | $2.7B | +7.3% |
| Q4 2025 | $2.7B | +8.6% |
| Q3 2025 | $2.6B | +6.5% |
| Q2 2025 | $2.6B | +4% |
| Q1 2025 | $2.5B | +0.6% |
| Q4 2024 | $2.5B | +6.4% |
| Q3 2024 | $2.5B | +5.4% |
ALC's revenue has grown year over year for 23 quarters in a row: $2.8B last quarter, up 8.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 0.4% | -9.1 points |
| Q1 2026 | 15% | -3.4 points |
| Q4 2025 | 12% | -4.3 points |
| Q3 2025 | 13% | -0.8 points |
| Q2 2025 | 9.5% | -3.2 points |
| Q1 2025 | 19% | +4 points |
| Q4 2024 | 16% | +6.9 points |
| Q3 2024 | 14% | +0.9 points |
ALC's operating margin was 0.4% last quarter, down 9.1 points from the same quarter a year ago.
LLY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.4B | +39% |
| Q2 2026 | $23B | +48% |
| Q1 2026 | $19.8B | +56% |
| Q4 2025 | $19.3B | +43% |
| Q3 2025 | $17.6B | +54% |
| Q2 2025 | $15.6B | +38% |
| Q1 2025 | $12.7B | +45% |
| Q4 2024 | $13.5B | +45% |
LLY has the edge over ALC on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | -6.6 points |
| Q2 2026 | 40% | -3.3 points |
| Q1 2026 | 45% | +18 points |
| Q4 2025 | 43% | +5.6 points |
| Q3 2025 | 41% | +27 points |
| Q2 2025 | 44% | +12 points |
| Q1 2025 | 27% | -1.8 points |
| Q4 2024 | 37% | +10 points |
LLY has the edge over ALC on profitability, with a higher operating margin.
ALC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $414M | +11% |
| Q1 2026 | $273.6M | +12% |
| Q4 2025 | $457M | +46% |
| Q3 2025 | $538.7M | -12% |
| Q2 2025 | $372M | -9.3% |
| Q1 2025 | $244M | +23% |
| Q4 2024 | $313.2M | +186% |
| Q3 2024 | $613.2M | +69% |
ALC generated $1.7B in free cash flow over the past year, up 9.1% from the year before.
LLY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $8.2B | +22% |
| Q2 2026 | $7.8B | +458% |
| Q1 2026 | $3B | +1826% |
| Q4 2025 | $677.9M | -31% |
| Q3 2025 | $6.7B | +186% |
| Q2 2025 | $1.4B | +476% |
| Q1 2025 | $156.1M | -13% |
| Q4 2024 | $977.8M | +$2.4B |
LLY generated $19.7B in free cash flow over the past year, up 112% from the year before.
ALC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -1.5M shares |
| 1 year | -1.8% | -9.2M shares |
| 3 years | -1.4% | -7M shares |
| 5 years | -0.9% | -4.5M shares |
| Available history | +0.1% | +500K shares |
ALC has the edge over LLY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $289M |
| Q1 2026 | $73.5M |
| Q4 2025 | $308M |
| Q3 2025 | $250.5M |
| Q2 2025 | $126M |
| Q1 2025 | $33M |
| Q4 2024 | $2M |
| Q3 2024 | $3M |
ALC spent $921M buying back its own shares over the past year, about six times what it spent the year before.
LLY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -300K shares |
| 1 year | -0.6% | -5.4M shares |
| 3 years | -0.7% | -6.4M shares |
| 5 years | -1.9% | -17.4M shares |
| Available history | -4.5% | -42.3M shares |
LLY has 893M diluted shares, down 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $377M |
| Q2 2026 | $1.6B |
| Q1 2026 | $2.4B |
| Q4 2025 | $1.5B |
| Q3 2025 | $708.1M |
| Q2 2025 | $692.2M |
| Q1 2025 | $1.2B |
| Q4 2024 | $2.1B |
LLY spent $5.8B buying back its own shares over the past year, up 26% from the year before.
ALC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 1.4x | Healthy |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.4x | Healthy |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.3x | Healthy |
| Q3 2024 | 1.4x | Healthy |
ALC's net debt is about 1.4 years of its operating earnings (EBITDA), about the same as a year ago.
LLY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 2.0x | Healthy |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 2.1x | Moderate |
LLY has the edge over ALC on leverage, with a lower net debt burden relative to earnings.
ALC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.0 | Neutral |
| Stochastic | 69.9 | Neutral |
ALC's weekly RSI is 53 (neutral) and its Stochastic is 70 (neutral).
LLY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.3 | Neutral |
| Stochastic | 84.1 | Overbought |
LLY's weekly RSI is 68 (neutral) and its Stochastic is 84 (overbought).
ALC PE vs Healthcare Sector
| Metric | ALC | Sector median | Relative |
|---|---|---|---|
| PE | 55x | 26x | 114% above |
| PE % | 51 | 29 | 22 pts above |
ALC is trading at 55x earnings, a 114% premium to the Healthcare sector's median of 26x.
LLY PE vs Healthcare Sector
| Metric | LLY | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 26x | 79% above |
| PE % | 48 | 29 | 19 pts above |
LLY has the edge over ALC on valuation relative to its sector.
ALC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $68.4 | 5.1% above |
| 20 week MA | $69.2 | 3.7% above |
| 50 week MA | $72.9 | 1.5% below |
| 100 week MA | $79.1 | 9.2% below |
| 200 week MA | $80.6 | 11% below |
ALC has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 11% below its 200-week average.
LLY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,279.4 | 12% above |
| 20 week MA | $1,218.8 | 17% above |
| 50 week MA | $1,102.2 | 29% above |
| 100 week MA | $954.1 | 50% above |
| 200 week MA | $797.5 | 79% above |
LLY has the edge over ALC on trend strength, trading above more of its moving averages.
ALC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $57.4 | $64.9 | +13% |
| 2021 | $64.9 | $86.6 | +34% |
| 2022 | $86.6 | $67.8 | -22% |
| 2023 | $67.8 | $78.1 | +15% |
| 2024 | $78.1 | $85.7 | +9.6% |
| 2025 | $85.7 | $80.4 | -6.2% |
| 2026 YTD | $80.4 | $71.8 | -11% |
ALC has finished higher in four of the last six years. It's down 11% so far in 2026.
LLY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $131.5 | $166.7 | +27% |
| 2021 | $166.7 | $273.1 | +64% |
| 2022 | $273.1 | $367.9 | +35% |
| 2023 | $367.9 | $582.9 | +58% |
| 2024 | $582.9 | $783.2 | +34% |
| 2025 | $783.2 | $1,077.8 | +38% |
| 2026 YTD | $1,077.8 | $1,427.3 | +32% |
LLY has the edge over ALC on returns for 2026, with the stronger performance.