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Side-by-side financial comparison of ALCON INC (ALC) and National Vision Holdings, Inc. (EYE). Click either name above to swap in a different company.
ALCON INC is the larger business by last-quarter revenue ($2.6B vs $487.3M, roughly 5.3× National Vision Holdings, Inc.). ALCON INC runs the higher net margin — 6.8% vs 0.7%, a 6.1% gap on every dollar of revenue. On growth, National Vision Holdings, Inc. posted the faster year-over-year revenue change (7.9% vs 4.0%).
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.
Vision Research is an international company that manufactures high-speed digital cameras based in Wayne, New Jersey. Their cameras are marketed under the Phantom brand, and are used in a broad variety of industries including: defense, industrial product development, manufacturing, automotive, scientific research, and entertainment. Vision Research is a business unit of the Materials Analysis Division of Ametek Inc., a global manufacturer of electronic instruments and electromechanical devices.
ALC vs EYE — Head-to-Head
Income Statement — Q2 2025 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $2.6B | $487.3M |
| Net Profit | $176.0M | $3.4M |
| Gross Margin | 53.5% | — |
| Operating Margin | 9.5% | 2.0% |
| Net Margin | 6.8% | 0.7% |
| Revenue YoY | 4.0% | 7.9% |
| Net Profit YoY | -21.1% | 139.8% |
| EPS (diluted) | $0.35 | $0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 25 | — | $487.3M | ||
| Q2 25 | $2.6B | $486.4M | ||
| Q1 25 | — | $510.3M | ||
| Q4 24 | — | $437.3M | ||
| Q3 24 | — | $451.5M | ||
| Q2 24 | $2.5B | $451.7M | ||
| Q1 24 | — | $482.8M | ||
| Q4 23 | — | $421.0M |
| Q3 25 | — | $3.4M | ||
| Q2 25 | $176.0M | $8.7M | ||
| Q1 25 | — | $14.2M | ||
| Q4 24 | — | $-28.6M | ||
| Q3 24 | — | $-8.5M | ||
| Q2 24 | $223.0M | $-3.1M | ||
| Q1 24 | — | $11.7M | ||
| Q4 23 | — | $-16.0M |
| Q3 25 | — | — | ||
| Q2 25 | 53.5% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 55.0% | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
| Q3 25 | — | 2.0% | ||
| Q2 25 | 9.5% | 3.4% | ||
| Q1 25 | — | 5.1% | ||
| Q4 24 | — | -5.8% | ||
| Q3 24 | — | -2.0% | ||
| Q2 24 | 12.7% | 0.1% | ||
| Q1 24 | — | 4.9% | ||
| Q4 23 | — | -2.9% |
| Q3 25 | — | 0.7% | ||
| Q2 25 | 6.8% | 1.8% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | -6.5% | ||
| Q3 24 | — | -1.9% | ||
| Q2 24 | 8.9% | -0.7% | ||
| Q1 24 | — | 2.4% | ||
| Q4 23 | — | -3.8% |
| Q3 25 | — | $0.04 | ||
| Q2 25 | $0.35 | $0.11 | ||
| Q1 25 | — | $0.18 | ||
| Q4 24 | — | $-0.36 | ||
| Q3 24 | — | $-0.11 | ||
| Q2 24 | $0.45 | $-0.04 | ||
| Q1 24 | — | $0.15 | ||
| Q4 23 | — | $-0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.4B | $56.0M |
| Total DebtLower is stronger | — | $236.5M |
| Stockholders' EquityBook value | $22.1B | $858.8M |
| Total Assets | $31.4B | $2.0B |
| Debt / EquityLower = less leverage | — | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $56.0M | ||
| Q2 25 | $1.4B | $48.5M | ||
| Q1 25 | — | $80.0M | ||
| Q4 24 | — | $73.9M | ||
| Q3 24 | — | $81.2M | ||
| Q2 24 | $1.4B | $179.5M | ||
| Q1 24 | — | $150.1M | ||
| Q4 23 | — | $149.9M |
| Q3 25 | — | $236.5M | ||
| Q2 25 | — | $255.6M | ||
| Q1 25 | — | $244.7M | ||
| Q4 24 | — | $248.6M | ||
| Q3 24 | — | $252.8M | ||
| Q2 24 | — | $143.9M | ||
| Q1 24 | — | $448.6M | ||
| Q4 23 | — | $450.8M |
| Q3 25 | — | $858.8M | ||
| Q2 25 | $22.1B | $850.6M | ||
| Q1 25 | — | $836.2M | ||
| Q4 24 | — | $816.3M | ||
| Q3 24 | — | $840.0M | ||
| Q2 24 | $20.9B | $843.4M | ||
| Q1 24 | — | $841.3M | ||
| Q4 23 | — | $829.4M |
| Q3 25 | — | $2.0B | ||
| Q2 25 | $31.4B | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | $29.7B | $2.1B | ||
| Q1 24 | — | $2.2B | ||
| Q4 23 | — | $2.2B |
| Q3 25 | — | 0.28× | ||
| Q2 25 | — | 0.30× | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | — | 0.30× | ||
| Q3 24 | — | 0.30× | ||
| Q2 24 | — | 0.17× | ||
| Q1 24 | — | 0.53× | ||
| Q4 23 | — | 0.54× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $46.6M |
| Free Cash FlowOCF − Capex | — | $30.3M |
| FCF MarginFCF / Revenue | — | 6.2% |
| Capex IntensityCapex / Revenue | — | 3.4% |
| Cash ConversionOCF / Net Profit | — | 13.83× |
| TTM Free Cash FlowTrailing 4 quarters | — | $83.0M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $46.6M | ||
| Q2 25 | — | $54.3M | ||
| Q1 25 | — | $32.2M | ||
| Q4 24 | — | $30.3M | ||
| Q3 24 | — | $27.9M | ||
| Q2 24 | — | $51.5M | ||
| Q1 24 | — | $24.0M | ||
| Q4 23 | — | $19.8M |
| Q3 25 | — | $30.3M | ||
| Q2 25 | — | $42.4M | ||
| Q1 25 | — | $12.0M | ||
| Q4 24 | — | $-1.7M | ||
| Q3 24 | — | $4.1M | ||
| Q2 24 | — | $31.9M | ||
| Q1 24 | — | $4.0M | ||
| Q4 23 | — | $-13.0M |
| Q3 25 | — | 6.2% | ||
| Q2 25 | — | 8.7% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | -0.4% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 7.1% | ||
| Q1 24 | — | 0.8% | ||
| Q4 23 | — | -3.1% |
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | — | 4.3% | ||
| Q1 24 | — | 4.1% | ||
| Q4 23 | — | 7.8% |
| Q3 25 | — | 13.83× | ||
| Q2 25 | — | 6.22× | ||
| Q1 25 | — | 2.27× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.05× | ||
| Q4 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
