Which has the lower trailing P/E, ALC or WAT?

ALC has the lower trailing P/E: ALC trades at 55.56 and WAT at 105.05. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, ALC or WAT?

Over the past five years, WAT grew revenue faster — ALC at a 6.57% CAGR versus WAT at 11.70%.

Does ALC or WAT pay a bigger dividend?

ALC pays a dividend (0.50% yield), while WAT is a former payer with no current dividend run rate.

Is ALC or WAT more profitable?

ALC runs the higher net margin — ALC at 5.95% versus WAT at 3.58%.

How have ALC and WAT total returns compared?

Over the past 5 years, ALC delivered -2.16% and WAT delivered 10.29% annualized total return. Past performance doesn't predict future results.

Alcon Inc. (ALC) vs Waters Corporation (WAT)

A side-by-side comparison of Alcon Inc. and Waters Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of August 28, 2026. Differences are shown without an overall score or investment verdict.

ALC

Alcon Inc.

$34.86B

$71.47HealthcareDelayed quote: Aug 28, 2026, 12:44 PM EDT

WAT

Waters Corporation

$30.99B

$414.34HealthcareDelayed quote: Aug 28, 2026, 12:45 PM EDT

Total return — ALC vs WAT

growth of $100 · dividends reinvested · last 7y

ALC +26.9% (+3.5%/yr)WAT +69.6% (+7.8%/yr)WAT compounded faster over this window

ALC WAT

ALC vs WAT: by the numbers

•ALC is the larger company ($34.86B vs $30.99B market cap).
•ALC trades at the lower trailing earnings multiple (55.56 vs 105.05 P/E), one valuation lens rather than an overall verdict.
•ALC converts more revenue to profit (5.95% vs 3.58% net margin).
•WAT grew revenue faster over the past five years (11.70% vs 6.57% CAGR).
•ALC pays a dividend (0.50% yield), while WAT is a former payer with no current dividend run rate.

Metrics side by side

Valuation

Metric	ALC	WAT
P/E ratio	55.56	105.05
Forward P/E	20.49	28.90
P/S ratio	3.28	8.91
P/B ratio	1.63	2.72
EV / EBITDA	17.44	49.66
FCF yield	4.77%	0.96%

Profitability

Metric	ALC	WAT
Gross margin	56.43%	50.78%
Operating margin	10.26%	28.22%
Net margin	5.95%	3.58%
ROE	2.96%	1.09%
ROIC	3.35%	1.34%

Dividends

Metric	ALC	WAT
Dividend yield	0.50%	N/A
Payout ratio	18.06%	N/A

Growth (annualized)

Metric	ALC	WAT
Revenue CAGR (5Y)	6.57%	11.70%
EPS CAGR (5Y)	N/A	5.16%
FCF CAGR (5Y)	40.55%	-9.10%
Total return CAGR (5Y)	-2.16%	0.67%

Frequently asked

Which has the lower trailing P/E, ALC or WAT?: ALC has the lower trailing P/E: ALC trades at 55.56 and WAT at 105.05. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, ALC or WAT?: Over the past five years, WAT grew revenue faster — ALC at a 6.57% CAGR versus WAT at 11.70%.
Does ALC or WAT pay a bigger dividend?: ALC pays a dividend (0.50% yield), while WAT is a former payer with no current dividend run rate.
Is ALC or WAT more profitable?: ALC runs the higher net margin — ALC at 5.95% versus WAT at 3.58%.
How have ALC and WAT total returns compared?: Over the past 5 years, ALC delivered -2.16% and WAT delivered 10.29% annualized total return. Past performance doesn't predict future results.

Go deeper

Full ALC analysis Full WAT analysis Interactive comparison tool

Dig into the metrics

Alcon P/E ratio Waters P/E ratio Alcon dividend yield Alcon ROE Waters ROE Alcon operating margin Waters operating margin Alcon revenue growth Waters revenue growth Alcon free cash flow Waters free cash flow

Alcon & Waters appear in these rankings

Highest FCF Yield Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified August 28, 2026.