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Side-by-side financial comparison of ALCON INC (ALC) and Alkermes plc. (ALKS), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
ALCON INC is the larger business by last-quarter revenue ($2.6B vs $384.5M, roughly 6.8× Alkermes plc.). Alkermes plc. runs the higher net margin — 6.8% vs 12.8%, a 6.1% gap on every dollar of revenue. On growth, ALCON INC posted the faster year-over-year revenue change (4.0% vs -10.6%).
Alcon Inc. is a Swiss-American pharmaceutical and medical device company specializing in eye care products. Alcon is incorporated in the Canton of Fribourg, Switzerland, and its global headquarters are located in Geneva, but its main operational base is in Fort Worth, Texas, United States, where it employs about 4,500 people.
Alkermes plc is a fully-integrated biopharmaceutical company that focuses on developing medicines for psychiatric and neurological disorders. The company was founded in 1987 by Michael Wall. In September 2011 Alkermes, Inc. merged with Elan Drug Technologies (EDT), the former drug formulation and manufacturing division of Élan Corporation, plc. The company is headquartered in Dublin, and has an R&D center in Waltham, Massachusetts, and a manufacturing facility in Wilmington, Ohio.
ALC vs ALKS — Head-to-Head
Income Statement — Q2 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $2.6B | $384.5M |
| Net Profit | $176.0M | $49.3M |
| Gross Margin | 53.5% | 88.0% |
| Operating Margin | 9.5% | 15.1% |
| Net Margin | 6.8% | 12.8% |
| Revenue YoY | 4.0% | -10.6% |
| Net Profit YoY | -21.1% | -66.3% |
| EPS (diluted) | $0.35 | $0.29 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | — | $384.5M | ||
| Q3 25 | — | $394.2M | ||
| Q2 25 | $2.6B | $390.7M | ||
| Q1 25 | — | $306.5M | ||
| Q4 24 | — | $430.0M | ||
| Q3 24 | — | $378.1M | ||
| Q2 24 | $2.5B | $399.1M | ||
| Q1 24 | — | $350.4M |
| Q4 25 | — | $49.3M | ||
| Q3 25 | — | $82.8M | ||
| Q2 25 | $176.0M | $87.1M | ||
| Q1 25 | — | $22.5M | ||
| Q4 24 | — | $146.5M | ||
| Q3 24 | — | $92.4M | ||
| Q2 24 | $223.0M | $91.4M | ||
| Q1 24 | — | $36.8M |
| Q4 25 | — | 88.0% | ||
| Q3 25 | — | 86.9% | ||
| Q2 25 | 53.5% | 87.3% | ||
| Q1 25 | — | 83.9% | ||
| Q4 24 | — | 85.6% | ||
| Q3 24 | — | 83.3% | ||
| Q2 24 | 55.0% | 84.6% | ||
| Q1 24 | — | 83.3% |
| Q4 25 | — | 15.1% | ||
| Q3 25 | — | 22.6% | ||
| Q2 25 | 9.5% | 23.8% | ||
| Q1 25 | — | 4.5% | ||
| Q4 24 | — | 37.8% | ||
| Q3 24 | — | 27.7% | ||
| Q2 24 | 12.7% | 27.5% | ||
| Q1 24 | — | 12.4% |
| Q4 25 | — | 12.8% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | 6.8% | 22.3% | ||
| Q1 25 | — | 7.3% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | — | 24.4% | ||
| Q2 24 | 8.9% | 22.9% | ||
| Q1 24 | — | 10.5% |
| Q4 25 | — | $0.29 | ||
| Q3 25 | — | $0.49 | ||
| Q2 25 | $0.35 | $0.52 | ||
| Q1 25 | — | $0.13 | ||
| Q4 24 | — | $0.88 | ||
| Q3 24 | — | $0.55 | ||
| Q2 24 | $0.45 | $0.53 | ||
| Q1 24 | — | $0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.4B | $388.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $22.1B | $1.8B |
| Total Assets | $31.4B | $2.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | — | $388.6M | ||
| Q3 25 | — | $616.4M | ||
| Q2 25 | $1.4B | $521.2M | ||
| Q1 25 | — | $399.8M | ||
| Q4 24 | — | $291.1M | ||
| Q3 24 | — | $396.3M | ||
| Q2 24 | $1.4B | $535.1M | ||
| Q1 24 | — | $420.8M |
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | $22.1B | $1.6B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | $20.9B | $1.3B | ||
| Q1 24 | — | $1.3B |
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | $31.4B | $2.3B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | $29.7B | $2.2B | ||
| Q1 24 | — | $2.1B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $170.1M |
| Free Cash FlowOCF − Capex | — | $170.0M |
| FCF MarginFCF / Revenue | — | 44.2% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | — | 0.0% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | 3.45× |
| TTM Free Cash FlowTrailing 4 quarters | — | $480.3M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | — | $170.1M | ||
| Q3 25 | — | $101.7M | ||
| Q2 25 | — | $150.2M | ||
| Q1 25 | — | $98.8M | ||
| Q4 24 | — | $190.4M | ||
| Q3 24 | — | $81.6M | ||
| Q2 24 | — | $146.0M | ||
| Q1 24 | — | $21.1M |
| Q4 25 | — | $170.0M | ||
| Q3 25 | — | $84.4M | ||
| Q2 25 | — | $137.2M | ||
| Q1 25 | — | $88.7M | ||
| Q4 24 | — | $180.6M | ||
| Q3 24 | — | $73.3M | ||
| Q2 24 | — | $138.9M | ||
| Q1 24 | — | $12.8M |
| Q4 25 | — | 44.2% | ||
| Q3 25 | — | 21.4% | ||
| Q2 25 | — | 35.1% | ||
| Q1 25 | — | 28.9% | ||
| Q4 24 | — | 42.0% | ||
| Q3 24 | — | 19.4% | ||
| Q2 24 | — | 34.8% | ||
| Q1 24 | — | 3.6% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 1.8% | ||
| Q1 24 | — | 2.4% |
| Q4 25 | — | 3.45× | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 1.72× | ||
| Q1 25 | — | 4.40× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 1.60× | ||
| Q1 24 | — | 0.57× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
ALC
Segment breakdown not available.
ALKS
| Vivitrol | $124.1M | 32% |
| Aristada And Aristada Initio | $97.2M | 25% |
| LYBALVI | $94.1M | 24% |
| Royalty | $65.7M | 17% |
| Manufacturing Revenue | $3.3M | 1% |
