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Align Technology, Inc. ALGN SPX

Healthcare · Medical Instruments & Supplies · United States
https://www.aligntech.com

Align Technology, Inc. provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers Invisalign comprehensive package to treat adults and teens malocclusion and features, and orthodontic needs of teenage or younger patients; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients between the ages of six and ten years with a mixture of primary/baby and permanent teeth. This segment also provides Invisalign express, Invisalign lite, and Invisalign moderate; Invisalign Go, Invisalign Go express, and Invisalign Go Plus; retention products, Invisalign training, adjusting tools used by dental professionals during treatment, ancillary Invisalign accessory products, and other oral health products; Invisalign Professional Whitening system; Invisalign Palatal Expander, a 3D printed orthodontic device; and 3D printing solutions. Its Imaging Systems and CAD/CAM Services segment offers iTero intraoral scanning system, a single hardware platform for restorative or orthodontic procedures; exocad, a computer-aided design and computer-aided manufacturing software; orthodontist software for digital records storage, orthodontic diagnosis, and fabrication of printed models and retainers; and restorative software for general practitioner dentists, prosthodontists, periodontists, and oral surgeons. This segment also offers Invisalign outcome simulator, a chair-side and cloud-based application for the iTero scanner; Invisalign progress assessment tool; Align Oral Health Suite, a digital interface for dental consultations; iTero TimeLapse technology for doctors or practitioners to compare a patient's historic 3D scans to the present-day scan; and subscription software, disposables, rents scanners, and pay per scan services. Align Technology, Inc. was incorporated in 1997 and is headquartered in Tempe, Arizona.

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$174.95
-3.31% 1Y

Market & Price

Market Cap
$12.53B
Current Price
$174.95
High / Low (52W)
$207.19 / $124.88
Beta
1.70

Valuation

Stock P/E
29.40
Industry PE
23.65
Forward P/E
14.13
PEG Ratio
0.86
Book Value
$57.94
Price to Book
3.02
P/S
3.06
EV/EBITDA
13.01
Dividend Yield
-

Profitability & Returns

ROCE
13.57%
ROE
10.82%
ROA
7.33%
Profit Margin
10.50%
Op Margin
16.59%
EPS (Latest Qtr)
$1.57
EPS (TTM)
$5.95

Balance Sheet & Liquidity

Debt/Equity
2.80
Quick Ratio
1.17
Current Ratio
1.39
Debt
$116.04M
Total Assets
$6.23B
Current Assets
$2.62B
Working Capital
$696.55M

Ownership

Promoter Holding
6.82%
Chg in Prom Hold
0.03%
FII / Inst Holding
101.88%
Chg in FII Hold
-0.02%

Financial Snapshot

Enterprise Value
$11.59B
Total Revenue (TTM)
$4.10B
EBITDA
$890.46M
Free Cash Flow
$538.98M
Operating Cash Flow
$691.59M
Shares Outstanding
71.62M
Gross Margin
70.15%
Payout Ratio
0.00%

Growth (CAGR)

Revenue 5Y
2.61%
Profit 5Y
4.31%
Revenue (YoY)
6.20%
Earnings (YoY)
23.90%

PROS

  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Healthcare).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 ALGN Align Technology, Inc. SPX 174.95 29.40 $12.53B - 13.57% 10.82% 2.61% 4.31%
2 LLY Eli Lilly and Company SPX 1,105.00 39.21 $985.37B 0.63% 38.44% 107.46% 31.69% 48.96%
3 JNJ Johnson & Johnson SPX 225.33 26.11 $542.42B 2.38% 23.13% 26.42% 5.60% 14.32%
4 UNH UnitedHealth Group Incorporated SPX 380.31 28.66 $345.38B 2.32% 9.60% 12.18% 11.35% -15.69%
5 MRK Merck & Co., Inc. SPX 118.72 33.44 $293.22B 2.86% 20.66% 18.94% 3.12% 7.93%
6 TMO Thermo Fisher Scientific Inc. SPX 492.51 27.11 $183.03B 0.38% 9.17% 13.52% -0.27% -1.19%
7 AMGN Amgen Inc. NDXSPX 336.79 23.42 $181.77B 2.99% 18.02% 101.32% 11.77% 5.58%
8 GILD Gilead Sciences, Inc. NDXSPX 134.43 18.29 $166.90B 2.44% 22.92% 43.36% 2.57% 22.83%
9 ISRG Intuitive Surgical, Inc. NDXSPXAI 424.64 51.53 $150.39B - 15.96% 17.23% 17.39% 29.26%
Ad space

Quarterly Results

Figures in USD.

Metric Sep 2013Mar 2014Jun 2014Sep 2014Mar 2015Jun 2015Sep 2015Mar 2016Jun 2016Sep 2016Mar 2017Jun 2017Sep 2017Mar 2018Jun 2018Sep 2018Mar 2019Jun 2019Sep 2019Mar 2020Jun 2020Sep 2020Mar 2021Jun 2021Sep 2021Mar 2022Jun 2022Sep 2022Mar 2023Jun 2023Sep 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue -------------436.92M490.26M505.29M548.97M600.70M607.34M550.96M352.31M734.14M894.77M1.01B1.02B973.22M969.55M890.35M943.15M1.00B960.21M997.43M1.03B--979.26M1.01B995.69M1.05B1.04B
Cost of Revenue -----------------------------------299.15M304.33M356.49M363.97M303.50M
Gross Profit 125.09M137.25M145.48M145.05M151.09M158.63M157.58M180.63M205.22M209.20M235.62M270.92M292.49M327.41M365.58M371.78M402.10M432.29M437.55M394.36M224.33M534.09M677.10M758.54M755.16M709.35M687.56M619.17M660.65M713.61M663.08M697.82M722.63M--680.11M708.12M639.20M683.59M736.59M
Operating Expenses -----------------------------------544.83M545.08M511.08M524.71M564.00M
Operating Income 41.46M41.80M48.73M51.55M48.92M42.33M38.05M53.33M65.14M62.08M61.67M83.57M98.76M98.19M122.69M125.21M87.70M176.49M127.15M69.92M-73.00M177.07M225.45M268.90M261.16M198.08M188.20M143.66M133.52M171.93M166.35M154.13M147.05M--135.28M163.03M128.12M158.88M172.59M
EBITDA -----------------------------------174.43M203.61M183.84M260.87M229.13M
Interest Expense ----------------------------------------
Pretax Income -----------------------------------140.44M173.52M94.73M176.59M148.89M
Tax Provision -----------------------------------47.21M48.91M37.98M40.84M36.12M
Net Income 34.54M32.44M35.60M38.25M36.18M31.35M27.62M40.55M50.15M51.37M69.42M69.18M82.56M95.87M106.11M100.87M71.85M147.14M102.52M1.52B-40.60M139.37M200.38M199.71M180.97M134.30M112.80M72.70M87.80M111.81M121.43M105.03M96.56M--93.23M124.61M56.75M135.76M112.77M
Diluted EPS 0.420.390.430.470.440.390.340.500.620.630.850.851.011.171.301.240.891.831.2819.21-0.521.762.512.512.281.701.440.931.141.461.581.391.28--1.271.720.781.891.57
R&D Expense 10.91M13.38M13.29M12.85M13.88M15.68M17.78M15.08M18.61M20.41M22.80M24.38M24.20M29.59M30.80M32.70M37.50M38.85M39.68M41.53M40.36M44.53M54.54M57.72M65.59M71.81M72.97M76.97M87.45M88.48M88.74M91.86M92.19M85.27M-97.20M96.40M93.28M-98.66M

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue --------1.08B1.47B1.97B2.41B2.47B-3.73B3.86B4.00B4.03B
Cost of Revenue --------------1.10B1.16B1.20B1.32B
Gross Profit 225.13M233.49M303.42M361.28M416.39M498.11M578.44M640.11M815.29M1.12B1.45B1.74B1.76B-2.63B2.71B2.80B2.71B
Operating Expenses --------------1.98B2.05B2.13B2.13B
Operating Income 15.51M-34.01M102.73M90.36M85.59M94.21M193.58M188.63M248.92M353.61M466.56M542.49M387.17M-654.05M656.65M671.76M585.31M
EBITDA --------------779.84M799.05M816.80M822.75M
Interest Expense ------------------
Pretax Income --------------599.06M641.20M608.96M585.29M
Tax Provision --------------237.48M196.15M187.60M174.94M
Net Income 79.99M-31.27M74.25M66.72M58.69M64.30M145.83M144.02M189.68M231.42M400.24M442.78M1.78B-361.57M445.05M421.36M410.35M
Diluted EPS 1.18-0.450.950.830.710.781.771.772.332.834.925.5322.41-4.615.815.625.65
R&D Expense 26.16M22.25M26.00M37.15M42.87M44.08M52.80M61.24M75.72M97.56M128.90M157.36M175.31M250.31M305.26M346.83M364.20M369.91M

Compounded Sales Growth

5 Years:2.61%
1 Year:6.20%

Compounded Profit Growth

5 Years:4.31%
1 Year:23.90%

Stock Price Performance

1 Year:-3.31%
6 Months:+18.61%
3 Months:-7.97%
1 Month:-1.93%

Balance Sheet (Annual)

Figures in USD.

Metric Dec 2007Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets --355.24M476.94M649.26M756.31M832.15M988.00M1.16B1.40B1.78B2.05B2.50B4.83B-5.95B6.08B6.21B6.23B
Current Assets ---------------2.42B2.45B2.49B2.62B
Cash & Equivalents 89.12M87.10M166.49M294.66M306.39M306.39M242.95M199.87M167.71M389.27M449.51M636.90M550.42M960.84M-942.05M937.44M1.04B1.09B
Inventory ---------------338.75M296.90M254.29M226.34M
Receivables ---------------859.68M903.42M995.68M1.10B
Total Liabilities --82.20M99.20M158.48M175.00M198.18M235.23M310.71M400.76M629.72M799.57M1.15B1.60B-2.35B2.45B2.36B2.18B
Current Liabilities --81.24M92.97M148.12M155.77M175.34M201.81M271.67M354.33M500.05M692.07M970.97M1.33B-1.93B2.07B2.04B1.92B
Long Term Debt -------------------
Total Debt ---------------126.91M126.62M119.28M114.45M
Total Equity 161.15M218.54M377.75M377.75M490.78M581.32M633.97M752.77M847.93M999.31M1.15B1.25B1.35B3.23B-3.60B3.63B3.85B4.05B
Shares Outstanding ---------------77.27M75.08M73.85M71.36M

Cash Flows (Annual)

Figures in USD.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow 39.75M74.17M129.53M130.47M133.78M185.98M226.90M238.00M247.65M438.54M554.68M747.27M662.17M-568.73M785.78M738.23M593.22M
Investing Cash Flow -1.05M-1.56M-15.92M-211.61M-78.30M-210.73M-201.63M-166.36M73.03M-251.48M6.93M-350.44M-231.51M--213.32M-195.94M-254.91M-112.44M
Financing Cash Flow -40.35M6.84M14.71M27.24M10.21M-38.17M-66.42M-100.79M-95.52M-135.50M-369.43M-485.54M-30.81M--501.69M-598.34M-355.72M-464.58M
Capital Expenditure -14.33M-7.19M-18.03M-30.40M-38.33M-19.41M-24.09M-53.45M-70.58M-195.69M-223.31M-149.71M-154.92M--291.90M-177.72M-115.58M-102.44M
Free Cash Flow 25.41M66.97M111.50M100.06M95.44M166.56M202.81M184.55M177.08M242.84M331.37M597.56M507.26M-276.83M608.06M622.65M490.78M
Net Change in Cash ---------------146.27M-8.51M127.60M16.20M
Share Buybacks 50.14M-07.75M47.20M95.11M98.23M101.79M96.22M103.79M300.00M400.00M0375.04M435.04M592.36M352.88M465.94M

Ratios (Annual)

Figures in %.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % --------75.5%75.8%73.6%72.5%71.3%-70.5%70.1%70.0%67.2%
Operating Margin % --------23.1%24.0%23.7%22.5%15.7%-17.5%17.0%16.8%14.5%
Net Margin % --------17.6%15.7%20.4%18.4%71.8%-9.7%11.5%10.5%10.2%
ROE % 36.6%-8.3%19.7%13.6%10.1%10.1%19.4%17.0%19.0%20.0%31.9%32.9%54.9%-10.0%12.3%10.9%10.1%
ROCE % --12.4%26.8%18.0%14.3%14.3%24.6%21.3%23.9%27.5%34.3%35.5%11.0%-16.3%16.3%16.1%13.6%

Shareholding Pattern

Insiders
6.82%
Institutions
101.88%
Public Float
109.33%

Top Institutional Holders

#Holder% HeldSharesValue
1 Vanguard Capital Management LLC 6.13% 4.39M $767.88M
2 Blackrock Inc. 5.99% 4.29M $750.52M
3 Capital World Investors 5.69% 4.07M $712.45M
4 Capital International Investors 5.32% 3.81M $666.42M
5 Vanguard Portfolio Management LLC 4.40% 3.15M $551.23M
6 FMR, LLC 3.77% 2.70M $472.43M
7 State Street Corporation 3.51% 2.52M $440.22M
8 Ninety One UK Ltd 3.11% 2.23M $389.83M
9 Kayne Anderson Rudnick Investment Management LLC 2.66% 1.90M $332.91M
10 Goldman Sachs Group Inc 2.51% 1.80M $314.25M

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