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 $58.2B against $36.9B — 1.6× the size. Alcon trades at the lower P/E: 58.4× against 64.1×. Alcon grew revenue faster over the last twelve months: 8.34% against −2.55%. Alcon has the higher net margin (5.92% vs 4.52%) and the lower return on invested capital (2.38% vs 3.89%). Both pay a dividend; Becton, Dickinson and Company yields more (1.87% vs 0.46%). 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 58.36 64.14 30.28
P/S 3.43 2.81 2.49
P/B 1.72 2.40 2.34
Price to free cash flow 23.34 18.27 23.49
EV/EBITDA 14.80 14.95 14.87
EV/Sales 3.73 3.41 2.75
Earnings yield 1.71% 1.56% 0.00%
Free cash flow yield 4.28% 5.47% 0.59%

Profitability

Metric ALC BDX Medical Instruments & Supplies median
Gross margin 56.85% 50.26% 53.60%
Operating margin 8.73% 11.07% 1.97%
Net margin 5.92% 4.52% 0.00%
Free cash flow margin 14.68% 15.37% 2.36%
Return on equity 2.94% 3.77% 0.00%
Return on assets 2.06% 1.78% 0.00%
Return on invested capital 2.38% 3.89% 0.13%

Growth

Metric ALC BDX Medical Instruments & Supplies median
Revenue growth (TTM) 8.34% (2.55%) 8.97%
EPS growth (last fiscal year) (3.41%) (1.85%) 6.51%
Revenue growth, 5-year CAGR 8.77% 6.32% 8.85%
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 2.47
Net debt to EBITDA 1.23 3.33 0.97

Dividend

Metric ALC BDX Medical Instruments & Supplies median
Dividend yield 0.46% 1.87% 1.02%
Payout ratio 0.27 1.20 0.27

Size

Metric ALC BDX Medical Instruments & Supplies median
Market cap 36.90b 58.17b 1.71b

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