ALC vs. NVS

Last updated Apr 1, 2026

Compare and contrast key facts about Alcon Inc. (ALC) and Novartis AG (NVS).

Performance

ALC vs. NVS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alcon Inc. (ALC) and Novartis AG (NVS). The values are adjusted to include any dividend payments, if applicable.

ALC vs. NVS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ALC Alcon Inc.	-4.39%	-6.50%	9.02%	14.32%	-21.09%	32.23%	16.63%	-2.53%
NVS Novartis AG	14.16%	46.95%	0.02%	16.14%	8.06%	-3.65%	3.34%	13.52%

Fundamentals

Market Cap ALC : $37.09B NVS : $294.65B
EPS ALC : $1.98 NVS : $7.20
PE Ratio ALC : 38.09 NVS : 21.22
PEG Ratio ALC : 0.85 NVS : 1.43
PS Ratio ALC : 3.59 NVS : 5.29
PB Ratio ALC : 1.68 NVS : 6.39
Total Revenue (TTM) ALC : $10.40B NVS : $56.15B
Gross Profit (TTM) ALC : $5.70B NVS : $41.12B
EBITDA (TTM) ALC : $2.04B NVS : $22.99B

Returns By Period

In the year-to-date period, ALC achieves a -4.39% return, which is significantly lower than NVS's 14.16% return.

ALC

• 1D: 2.28%
• 1M: -13.57%
• YTD: -4.39%
• 6M: 1.13%
• 1Y: -20.06%
• 3Y*: 2.69%
• 5Y*: 1.51%
• 10Y*: —

NVS

• 1D: 1.59%
• 1M: -6.65%
• YTD: 14.16%
• 6M: 22.74%
• 1Y: 41.19%
• 3Y*: 22.57%
• 5Y*: 16.43%
• 10Y*: 11.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

ALC vs. NVS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ALC

ALC Risk / Return Rank: 14
ALC Sharpe Ratio Rank: 11
ALC Sortino Ratio Rank: 13
ALC Omega Ratio Rank: 14
ALC Calmar Ratio Rank: 13
ALC Martin Ratio Rank: 17

NVS

NVS Risk / Return Rank: 89
NVS Sharpe Ratio Rank: 90
NVS Sortino Ratio Rank: 87
NVS Omega Ratio Rank: 85
NVS Calmar Ratio Rank: 90
NVS Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ALC vs. NVS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alcon Inc. (ALC) and Novartis AG (NVS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ALC	NVS	Difference
Sharpe ratio Return per unit of total volatility	-0.72	1.91	-2.64
Sortino ratio Return per unit of downside risk	-0.89	2.51	-3.39
Omega ratio Gain probability vs. loss probability	0.89	1.33	-0.44
Calmar ratio Return relative to maximum drawdown	-0.79	3.70	-4.49
Martin ratio Return relative to average drawdown	-1.25	10.89	-12.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALC vs. NVS - Sharpe Ratio Comparison

The current ALC Sharpe Ratio is -0.72, which is lower than the NVS Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of ALC and NVS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ALC	NVS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.72	1.91	-2.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.89	-0.83
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.43	-0.28

Correlation

The correlation between ALC and NVS is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ALC vs. NVS - Dividend Comparison

ALC's dividend yield for the trailing twelve months is around 0.88%, less than NVS's 3.12% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALC Alcon Inc.	0.88%	0.84%	0.31%	0.30%	0.30%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NVS Novartis AG	3.12%	2.90%	3.84%	3.44%	3.70%	3.86%	3.22%	3.03%	3.47%	3.24%	3.73%	3.10%

Drawdowns

ALC vs. NVS - Drawdown Comparison

The maximum ALC drawdown since its inception was -37.19%, smaller than the maximum NVS drawdown of -42.10%. Use the drawdown chart below to compare losses from any high point for ALC and NVS.

Drawdown Indicators

	ALC	NVS	Difference
Max Drawdown Largest peak-to-trough decline	-37.19%	-42.10%	+4.91%
Max Drawdown (1Y) Largest decline over 1 year	-26.18%	-10.76%	-15.42%
Max Drawdown (5Y) Largest decline over 5 years	-35.96%	-20.42%	-15.54%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.03%	—
Current Drawdown Current decline from peak	-24.69%	-6.65%	-18.04%
Average Drawdown Average peak-to-trough decline	-11.28%	-10.94%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.65%	3.66%	+12.99%

Volatility

ALC vs. NVS - Volatility Comparison

Alcon Inc. (ALC) and Novartis AG (NVS) have volatilities of 6.60% and 6.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALC	NVS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.60%	6.36%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	16.72%	14.77%	+1.95%
Volatility (1Y) Calculated over the trailing 1-year period	27.89%	21.66%	+6.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.35%	18.51%	+7.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.57%	19.55%	+8.02%

Financials

ALC vs. NVS - Profitability Comparison

The chart below illustrates the profitability comparison between Alcon Inc. and Novartis AG over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ALC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Alcon Inc. reported a gross profit of 1.47B and revenue of 2.72B. Therefore, the gross margin over that period was 54.2%.

NVS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Novartis AG reported a gross profit of 8.40B and revenue of 13.33B. Therefore, the gross margin over that period was 63.0%.

ALC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Alcon Inc. reported an operating income of 313.00M and revenue of 2.72B, resulting in an operating margin of 11.5%.

NVS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Novartis AG reported an operating income of 3.05B and revenue of 13.33B, resulting in an operating margin of 22.8%.

ALC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Alcon Inc. reported a net income of 217.00M and revenue of 2.72B, resulting in a net margin of 8.0%.

NVS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Novartis AG reported a net income of 2.41B and revenue of 13.33B, resulting in a net margin of 18.1%.