Alcon Inc. cash flow statement ALC

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Alcon Inc. generated $2.3 billion of cash from operations, up 9.3% from the year before. It spent $543.0 million on capital expenditures. That left free cash flow of $1.7 billion. The company returned $166.0 million in dividends and $676.0 million in share buybacks to shareholders.

USD in millions, except per-share amounts and ratios. The percent under a figure is the change from the year before.

Line	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2010 Dec 31, 2010	FY 2009 Dec 31, 2009
Operating
Depreciation and amortization	—	—	—	—	—	—	—	212 +9.3%	194
Stock-based compensation	171 +5.6%	162 +1.9%	159 +4.6%	152 +0.7%	151 +33.6%	113 -0.9%	114	—	74
Operating cash flow	2,271 +9.3%	2,077 +49.6%	1,388 +14.1%	1,217 -9.5%	1,345 +63.4%	823 -10.5%	920	2,375 -1.7%	2,416
Investing
Capital expenditures	543 +14.8%	473 -28.1%	658 +3.5%	636 -9.1%	700 +46.1%	479 -13.4%	553	309 -9.6%	342
Investing cash flow	-1,344 -15.2%	-1,167 -6.7%	-1,094 +41.3%	-1,865 -55.7%	-1,198 -109.4%	-572 +43.4%	-1,011	-1,705 -337.2%	-390
Financing
Debt issued	59 +0.0%	59 -14.5%	69 -97.3%	2,586	—	—	—	—	—
Debt repaid	112 +138.3%	47 +38.2%	34 -98.5%	2,267	—	—	—	—	—
Dividends paid	166 +27.7%	130 +12.1%	116 +16.0%	100 +85.2%	54	—	—	1,037 -1.0%	1,048
Stock buybacks	676	—	—	—	—	—	—	33 +371.4%	7
Financing cash flow	-1,119 -247.5%	-322 -52.6%	-211 -2537.5%	-8 +93.5%	-123 -126.4%	466 -29.3%	659	-1,150 +22.3%	-1,481
Change in cash
Effect of exchange rate	43 +816.7%	-6 -119.4%	31 -49.2%	61 +1116.7%	-6 -133.3%	18 -33.3%	27	—	—
Net change in cash	-149 -125.6%	582 +410.5%	114 +119.2%	-595 -3405.6%	18 -97.6%	735 +23.5%	595	—	—
Free cash flow	1,728 +7.7%	1,604 +119.7%	730 +25.6%	581 -9.9%	645 +87.5%	344 -6.3%	367	2,066 -0.4%	2,074
Per share
Free cash flow per share	3.48 +8.0%	3.22 +119.3%	1.47 +25.1%	1.18 -10.1%	1.31 +85.8%	0.70 -6.4%	0.75	—	—
Shareholder returns
Returned to shareholders	842	130	116	100	54	—	—	1,070	1,055
Share of free cash flow	48.73%	8.10%	15.89%	17.21%	8.37%	—	—	51.79%	50.87%
Ratios
Free cash flow margin	16.75%	16.31%	7.79%	6.71%	7.84%	5.09%	4.99%	28.78%	31.91%
Capital expenditures to revenue	5.26%	4.81%	7.02%	7.35%	8.51%	7.08%	7.51%	4.30%	5.26%
Stock-based compensation to revenue	1.66%	1.65%	1.70%	1.76%	1.84%	1.67%	1.55%	—	1.14%
Cash conversion	2.32x	2.04x	1.43x	3.63x	3.58x	—	—	1.07x	1.20x

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and ratios. Capital expenditures, debt repaid, dividends, and buybacks are positive amounts. Investing and financing cash flow keep the filing sign, so an outflow is negative. Free cash flow is operating cash flow minus capital expenditures. Returned to shareholders is dividends plus buybacks. Free cash flow margin, capital expenditures, and stock-based compensation are divided by revenue. Cash conversion is operating cash flow divided by net income. More on our methodology.

Company profile

Industry: Ophthalmic Goods (SIC 3851)
Listed as: ALC (NYSE)
Fiscal year ends: December 31
Incorporated in: Switzerland
Headquarters: Fort Worth, TX
SEC filer status: Large accelerated filer
SEC CIK: 1167379

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.