Alcon (ALC) vs Becton, Dickinson and Company (BDX)

Alcon and Becton, Dickinson and Company are both Medical Instruments & Supplies companies. Becton, Dickinson and Company is the larger, with a market value of $52.8B against $32.1B — 1.6× the size. Alcon trades at the lower P/E: 50.5× against 57.8×. Becton, Dickinson and Company grew revenue faster over the last twelve months: 13.1% against 8.34%. Alcon has the higher net margin (5.92% vs 4.20%) and the lower return on invested capital (2.38% vs 3.89%). Both pay a dividend; Becton, Dickinson and Company yields more (2.07% vs 0.53%). Across the 23 metrics below, Alcon leads on 12 and Becton, Dickinson and Company on 11.

Valuation

Metric ALC BDX Medical Instruments & Supplies median
P/E 50.52 57.76 33.75
P/S 2.97 2.35 2.52
P/B 1.49 2.16 2.48
Price to free cash flow 20.21 16.45 25.19
EV/EBITDA 12.97 13.72 14.62
EV/Sales 3.27 2.91 2.88
Earnings yield 1.98% 1.73% (2.67%)
Free cash flow yield 4.95% 6.08% 0.09%

Profitability

Metric ALC BDX Medical Instruments & Supplies median
Gross margin 56.85% 46.73% 54.29%
Operating margin 8.73% 10.30% 1.07%
Net margin 5.92% 4.20% (1.61%)
Free cash flow margin 14.68% 14.29% 1.08%
Return on equity 2.94% 3.77% (1.32%)
Return on assets 2.06% 1.78% 0.00%
Return on invested capital 2.38% 3.89% 0.00%

Growth

Metric ALC BDX Medical Instruments & Supplies median
Revenue growth (TTM) 8.34% 13.14% 8.85%
EPS growth (last fiscal year) (3.41%) (1.85%) 8.65%
Revenue growth, 5-year CAGR 8.77% 6.32% 9.17%
Net income growth, 5-year CAGR 0.00% 16.95% 0.00%

Health

Metric ALC BDX Medical Instruments & Supplies median
Debt to equity 0.22 0.55 0.10
Current ratio 2.09 0.87 2.48
Net debt to EBITDA 1.23 3.33 0.89

Dividend

Metric ALC BDX Medical Instruments & Supplies median
Dividend yield 0.53% 2.07% 1.11%
Payout ratio 0.27 1.20 0.27

Size

Metric ALC BDX Medical Instruments & Supplies median
Market cap 32.10b 52.78b 619.84m

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