Alcon (ALC) vs Medline Inc. (MDLN)

Alcon and Medline Inc. are both Medical Instruments & Supplies companies. Medline Inc. is the larger, with a market value of $48.1B against $32.1B — 1.5× the size. Alcon has the higher net margin (5.92% vs 2.37%) and the lower return on invested capital (2.38% vs 19.9%). Across the 16 metrics below, Medline Inc. leads on 9 and Alcon on 7.

Valuation

Metric ALC MDLN Medical Instruments & Supplies median
P/E 50.52 — 33.75
P/S 2.97 1.04 2.52
P/B 1.49 1.62 2.48
Price to free cash flow 20.21 13.38 25.19
EV/EBITDA 12.97 4.05 14.62
EV/Sales 3.27 1.37 2.88
Earnings yield 1.98% — (2.67%)
Free cash flow yield 4.95% 7.48% 0.09%

Profitability

Metric ALC MDLN Medical Instruments & Supplies median
Gross margin 56.85% 46.27% 54.29%
Operating margin 8.73% 31.12% 1.07%
Net margin 5.92% 2.37% (1.61%)
Free cash flow margin 14.68% 7.75% 1.08%
Return on equity 2.94% 0.00% (1.32%)
Return on assets 2.06% 3.58% 0.00%
Return on invested capital 2.38% 19.94% 0.00%

Growth

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

Health

Metric ALC MDLN Medical Instruments & Supplies median
Debt to equity 0.22 0.66 0.10
Current ratio 2.09 4.33 2.48
Net debt to EBITDA 1.23 3.24 0.89

Dividend

Metric ALC MDLN Medical Instruments & Supplies median
Dividend yield 0.53% — 1.11%
Payout ratio 0.27 — 0.27

Size

Metric ALC MDLN Medical Instruments & Supplies median
Market cap 32.10b 48.08b 619.84m

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