Align Technology (ALGN) Financials

$175.22 -2.39 (-1.35%)

As of 03:02 PM Eastern

Annual Income Statements for Align Technology

This table shows Align Technology's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	144	190	231	400	443	1,776	772	362	445	421
Consolidated Net Income / (Loss)	144	190	231	400	443	1,776	772	362	445	421
Net Income / (Loss) Continuing Operations	144	191	231	400	443	1,776	772	362	445	421
Total Pre-Tax Income	186	243	365	467	563	379	1,012	599	641	609
Total Operating Income	189	249	354	467	542	387	976	643	643	608
Total Gross Profit	640	815	1,117	1,448	1,744	1,763	2,935	2,634	2,707	2,799
Total Revenue	845	1,080	1,473	1,966	2,407	2,472	3,953	3,735	3,862	3,999
Operating Revenue	845	1,080	1,473	1,966	2,407	2,472	3,953	3,735	3,862	3,999
Total Cost of Revenue	205	265	356	519	663	709	1,017	1,101	1,155	1,200
Operating Cost of Revenue	205	265	356	519	663	709	1,017	1,101	1,155	1,200
Total Operating Expenses	451	566	763	981	1,201	1,376	1,959	1,991	2,064	2,192
Selling, General & Admin Expense	-	-	-	852	1,072	1,201	1,709	1,674	1,703	1,763
Research & Development Expense	61	76	98	129	157	175	250	305	347	364
Restructuring Charge	-	-	-	-	-	-	-	11	13	33
Other Special Charges / (Income)	-	-	0.00	0.00	-51	-	-	0.00	0.00	31
Total Other Income / (Expense), net	-2.53	-8.04	11	0.09	20	-8.22	36	-44	-2.13	1.33
Interest & Investment Income	0.00	2.53	6.95	8.58	12	3.13	3.10	5.37	17	20
Other Income / (Expense), net	-2.53	-11	4.24	-8.49	7.68	-11	33	-49	-19	-19
Income Tax Expense	42	51	130	58	112	-1,397	240	237	196	188
Basic Earnings per Share	$1.80	$2.38	$2.89	$5.00	$5.57	$22.55	$9.78	$4.62	$5.82	$5.63
Weighted Average Basic Shares Outstanding	80.00M	79.86M	80.09M	80.06M	79.42M	78.76M	78.92M	78.19M	76.43M	74.88M
Diluted Earnings per Share	$1.77	$2.33	$2.83	$4.92	$5.53	$22.41	$9.69	$4.61	$5.81	$5.62
Weighted Average Diluted Shares Outstanding	81.52M	81.48M	81.83M	81.36M	80.10M	79.23M	79.67M	78.42M	76.57M	74.99M
Weighted Average Basic & Diluted Shares Outstanding	80M	79.70M	80.10M	80M	78.75M	79.13M	78.80M	76.61M	75.10M	73.60M

This table shows Align Technology's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	73	42	88	112	121	124	105	97	116	104
Consolidated Net Income / (Loss)	73	42	88	112	121	124	105	97	116	104
Net Income / (Loss) Continuing Operations	73	42	88	112	121	124	105	97	116	104
Total Pre-Tax Income	123	115	135	172	162	173	158	144	166	141
Total Operating Income	144	113	134	172	166	172	154	147	162	144
Total Gross Profit	619	618	661	714	663	670	698	723	682	697
Total Revenue	890	902	943	1,002	960	957	997	1,028	978	995
Operating Revenue	890	902	943	1,002	960	957	997	1,028	978	995
Total Cost of Revenue	271	284	282	289	297	287	300	306	296	298
Operating Cost of Revenue	271	284	282	289	297	287	300	306	296	298
Total Operating Expenses	476	505	527	542	497	498	544	576	519	553
Selling, General & Admin Expense	399	410	440	453	408	403	452	452	434	425
Research & Development Expense	77	84	87	88	89	82	92	92	85	95
Total Other Income / (Expense), net	-21	2.66	1.11	-0.34	-4.24	1.34	4.25	-3.18	3.63	-3.37
Interest & Investment Income	1.69	2.76	2.34	4.42	5.52	4.98	4.39	3.30	4.00	8.52
Other Income / (Expense), net	-23	-0.10	-1.23	-4.76	-9.76	-3.64	-0.14	-6.48	-0.37	-12
Income Tax Expense	50	74	47	60	41	49	53	47	50	37
Basic Earnings per Share	$0.93	$0.54	$1.14	$1.46	$1.59	$1.63	$1.40	$1.28	$1.55	$1.40
Weighted Average Basic Shares Outstanding	78.09M	78.19M	76.92M	76.52M	76.57M	76.43M	75.18M	75.18M	74.74M	74.88M
Diluted Earnings per Share	$0.93	$0.54	$1.14	$1.46	$1.58	$1.63	$1.39	$1.28	$1.55	$1.40
Weighted Average Diluted Shares Outstanding	78.24M	78.42M	77.11M	76.69M	76.83M	76.57M	75.32M	75.22M	74.76M	74.99M
Weighted Average Basic & Diluted Shares Outstanding	78.11M	76.61M	76.52M	76.53M	76.59M	75.10M	75.28M	74.70M	74.65M	73.60M

This table details how cash moves in and out of Align Technology's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-32	222	57	192	-86	410	139	-158	-3.84	106
Net Cash From Operating Activities	238	248	439	555	747	662	1,173	569	786	738
Net Cash From Continuing Operating Activities	238	248	439	555	747	662	1,173	569	786	744
Net Income / (Loss) Continuing Operations	144	190	231	400	443	1,776	772	362	445	421
Consolidated Net Income / (Loss)	144	190	231	400	443	1,776	772	362	445	421
Depreciation Expense	18	24	38	55	79	94	109	126	142	145
Amortization Expense	-	-	-	-	-	22	-	-	-	38
Non-Cash Adjustments To Reconcile Net Income	67	67	76	97	150	-1,359	122	205	225	212
Changes in Operating Assets and Liabilities, net	9.40	-33	93	3.01	76	130	170	-124	-27	-72
Net Cash From Investing Activities	-166	73	-251	6.93	-350	-232	-563	-213	-196	-255
Net Cash From Continuing Investing Activities	-166	73	-251	6.93	-350	-232	-563	-213	-196	-255
Purchase of Property, Plant & Equipment	-53	-71	-196	-223	-150	-155	-401	-292	-178	-116
Acquisitions	0.00	-47	-22	0.00	0.00	-421	-8.00	-12	0.00	-77
Purchase of Investments	-447	-406	-390	-185	-693	-5.34	-201	-28	-80	-106
Sale and/or Maturity of Investments	334	604	389	385	507	348	8.21	121	61	44
Other Investing Activities, net	0.05	-8.03	-33	31	-15	1.16	38	-2.21	0.28	0.24
Net Cash From Financing Activities	-101	-96	-136	-369	-486	-31	-458	-502	-598	-356
Net Cash From Continuing Financing Activities	-101	-96	-136	-369	-486	-31	-458	-502	-598	-356
Repurchase of Common Equity	-102	-96	-104	-300	-400	0.00	-375	-475	-602	-353
Issuance of Common Equity	11	14	14	17	18	20	26	26	27	25
Other Financing Activities, net	-10	-13	-46	-86	-103	-51	-109	-53	-23	-28
Effect of Exchange Rate Changes	-3.01	-3.37	5.54	-	2.28	10	-12	-12	4.67	-21

This table details how cash moves in and out of Align Technology's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	167	-102	-110	120	287	-301	-72	-104	281	1.98
Net Cash From Operating Activities	266	145	200	252	287	47	29	160	264	286
Net Cash From Continuing Operating Activities	266	145	200	252	287	47	29	160	264	292
Net Income / (Loss) Continuing Operations	73	42	88	112	121	124	105	97	116	104
Consolidated Net Income / (Loss)	73	42	88	112	121	124	105	97	116	104
Depreciation Expense	32	34	36	36	37	34	33	36	38	38
Amortization Expense	-	-	-	-	-	-	9.61	9.43	9.56	9.84
Non-Cash Adjustments To Reconcile Net Income	51	58	57	56	58	54	54	43	62	52
Changes in Operating Assets and Liabilities, net	111	12	19	48	71	-165	-173	-26	39	88
Net Cash From Investing Activities	-85	-56	-53	-125	-4.31	-13	-80	-112	-8.92	-54
Net Cash From Continuing Investing Activities	-85	-56	-53	-125	-4.31	-13	-80	-112	-8.92	-54
Purchase of Property, Plant & Equipment	-75	-53	-64	-59	-22	-33	-9.37	-53	-30	-23
Acquisitions	-12	-	0.00	-75	-2.00	77	-77	-75	-	75
Purchase of Investments	-	-7.54	-2.37	-0.00	-	-78	0.00	-	-	-106
Net Cash From Financing Activities	11	-200	-259	-0.93	12	-350	-12	-152	11	-203
Net Cash From Continuing Financing Activities	11	-200	-259	-0.93	12	-350	-12	-152	11	-203
Repurchase of Common Equity	-	-200	-252	-	-	-350	0.00	-150	-	-203
Other Financing Activities, net	-0.42	-0.19	-21	-0.93	-0.51	-0.28	-26	-1.55	-0.37	-0.15
Effect of Exchange Rate Changes	-25	8.91	2.22	-5.74	-7.68	16	-9.00	-0.19	15	-27

This table presents Align Technology's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	1,159	1,396	1,784	2,052	2,501	4,830	5,942	5,948	6,084	6,215
Total Current Assets	732	953	1,158	1,302	1,633	1,850	2,494	2,424	2,447	2,492
Cash & Equivalents	168	389	450	637	550	961	1,099	942	937	1,044
Short-Term Investments	360	251	272	98	318	0.00	72	58	35	0.00
Accounts Receivable	159	247	324	439	550	658	897	860	903	996
Inventories, net	19	27	32	56	112	139	230	339	297	254
Prepaid Expenses	27	38	81	72	102	92	195	226	274	199
Plant, Property, & Equipment, net	136	175	349	521	632	735	1,082	1,232	1,291	1,271
Total Noncurrent Assets	290	268	277	229	236	2,245	2,366	2,292	2,346	2,451
Long-Term Investments	151	105	95	55	-	0.00	125	42	8.02	0.00
Goodwill	79	82	89	82	64	445	419	408	420	443
Intangible Assets	-	-	-	-	12	130	110	96	82	103
Noncurrent Deferred & Refundable Income Taxes	51	68	49	65	64	1,553	1,534	1,572	1,590	1,557
Other Noncurrent Operating Assets	8.20	13	44	27	96	118	179	175	247	348
Total Liabilities & Shareholders' Equity	1,159	1,396	1,784	2,052	2,501	4,830	5,942	5,948	6,084	6,215
Total Liabilities	311	401	630	800	1,155	1,596	2,319	2,347	2,453	2,363
Total Current Liabilities	272	354	500	692	971	1,326	1,924	1,926	2,067	2,038
Accounts Payable	34	29	37	64	87	142	164	128	113	109
Accrued Expenses	108	134	196	235	320	406	607	454	526	598
Current Deferred Revenue	130	191	268	393	564	778	1,153	1,344	1,428	1,331
Total Noncurrent Liabilities	39	46	130	107	184	270	395	421	387	325
Noncurrent Deferred Revenue	-	-	-	-	103	106	118	124	117	96
Other Noncurrent Operating Liabilities	39	46	130	107	81	164	277	296	270	228
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	848	995	1,154	1,253	1,346	3,234	3,623	3,601	3,630	3,852
Total Preferred & Common Equity	848	995	1,154	1,253	1,346	3,234	3,623	3,601	3,630	3,852
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	848	995	1,154	1,253	1,346	3,234	3,623	3,601	3,630	3,852
Common Stock	822	865	886	878	907	975	999	1,045	1,162	1,362
Retained Earnings	27	131	267	378	440	2,216	2,619	2,567	2,447	2,484
Accumulated Other Comprehensive Income / (Loss)	-0.98	-0.94	0.57	-2.77	-0.69	44	4.33	-10	21	5.98

This table presents Align Technology's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Total Assets	5,913	5,948	5,901	6,145	6,319	6,084	6,156	6,158	6,366	6,215
Total Current Assets	2,501	2,424	2,332	2,465	2,702	2,447	2,479	2,412	2,597	2,492
Cash & Equivalents	1,045	942	832	952	1,239	937	866	761	1,042	1,044
Short-Term Investments	46	58	52	56	45	35	33	21	0.00	0.00
Accounts Receivable	860	860	884	908	904	903	951	1,020	1,011	996
Inventories, net	321	339	312	313	296	297	280	259	254	254
Prepaid Expenses	229	226	252	237	218	274	350	351	291	199
Plant, Property, & Equipment, net	1,200	1,232	1,263	1,279	1,268	1,291	1,282	1,278	1,290	1,271
Total Noncurrent Assets	2,212	2,292	2,307	2,400	2,348	2,346	2,395	2,468	2,478	2,451
Long-Term Investments	50	42	37	26	18	8.02	3.62	0.00	0.00	0.00
Goodwill	378	408	414	415	404	420	458	454	472	443
Intangible Assets	92	96	93	89	83	82	121	116	116	103
Noncurrent Deferred & Refundable Income Taxes	1,525	1,572	1,590	1,606	1,592	1,590	1,571	1,578	1,570	1,557
Other Noncurrent Operating Assets	168	175	172	264	251	247	241	320	321	348
Total Liabilities & Shareholders' Equity	5,913	5,948	5,901	6,145	6,319	6,084	6,156	6,158	6,366	6,215
Total Liabilities	2,218	2,347	2,421	2,506	2,517	2,453	2,396	2,400	2,422	2,363
Total Current Liabilities	1,809	1,926	2,005	2,107	2,123	2,067	2,023	2,040	2,064	2,038
Accounts Payable	139	128	131	110	100	113	117	106	109	109
Accrued Expenses	384	454	497	600	614	526	497	555	575	598
Current Deferred Revenue	1,287	1,344	1,377	1,397	1,409	1,428	1,409	1,379	1,380	1,331
Total Noncurrent Liabilities	409	421	417	399	394	387	373	360	358	325
Noncurrent Deferred Revenue	127	124	127	113	116	117	121	104	112	96
Other Noncurrent Operating Liabilities	282	296	290	286	277	270	252	257	246	228
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,695	3,601	3,480	3,638	3,802	3,630	3,760	3,758	3,944	3,852
Total Preferred & Common Equity	3,695	3,601	3,480	3,638	3,802	3,630	3,760	3,758	3,944	3,852
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,695	3,601	3,480	3,638	3,802	3,630	3,760	3,758	3,944	3,852
Common Stock	1,061	1,045	1,105	1,142	1,193	1,162	1,239	1,276	1,336	1,362
Retained Earnings	2,675	2,567	2,374	2,485	2,607	2,447	2,503	2,457	2,573	2,484
Accumulated Other Comprehensive Income / (Loss)	-41	-10	1.84	11	2.05	21	18	25	36	5.98

This table displays calculated financial ratios and metrics derived from Align Technology's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.01%	27.72%	36.44%	33.47%	22.39%	2.71%	59.90%	-5.51%	3.42%	3.54%
EBITDA Growth	-1.98%	28.54%	50.78%	29.63%	22.69%	-21.83%	127.32%	-35.65%	6.51%	0.77%
EBIT Growth	-2.24%	28.08%	50.13%	28.01%	20.10%	-31.69%	168.56%	-41.18%	5.10%	-5.64%
NOPAT Growth	-1.56%	34.52%	15.82%	79.76%	6.19%	317.90%	-58.96%	-47.91%	15.13%	-5.84%
Net Income Growth	-1.24%	31.71%	22.00%	72.95%	10.63%	301.08%	-56.53%	-53.17%	23.09%	-5.32%
EPS Growth	0.00%	31.64%	21.46%	73.85%	12.40%	305.24%	-56.76%	-52.43%	26.03%	-3.27%
Operating Cash Flow Growth	4.89%	4.06%	77.08%	26.48%	34.72%	-11.39%	77.07%	-51.50%	38.16%	-6.05%
Free Cash Flow Firm Growth	-20.70%	-9.13%	20.97%	103.91%	47.30%	-95.48%	3,551.27%	-77.71%	131.40%	-26.51%
Invested Capital Growth	12.67%	47.87%	35.12%	36.76%	3.25%	375.98%	2.33%	10.05%	3.51%	5.98%
Revenue Q/Q Growth	3.89%	6.19%	9.52%	6.08%	5.05%	8.08%	5.23%	-3.35%	1.45%	0.97%
EBITDA Q/Q Growth	5.34%	-0.25%	16.79%	3.13%	6.50%	18.31%	4.24%	-12.49%	7.79%	0.94%
EBIT Q/Q Growth	5.60%	-1.25%	17.41%	2.24%	6.41%	15.59%	4.19%	-15.24%	9.73%	-5.71%
NOPAT Q/Q Growth	5.65%	3.22%	-16.98%	28.90%	4.69%	2.80%	4.58%	-28.83%	22.90%	-3.88%
Net Income Q/Q Growth	6.93%	-0.66%	-13.90%	27.83%	5.70%	2.17%	4.32%	-29.21%	22.67%	-4.58%
EPS Q/Q Growth	7.27%	-0.85%	-13.98%	28.46%	6.14%	1.96%	4.64%	-28.64%	23.09%	-3.93%
Operating Cash Flow Q/Q Growth	3.37%	0.66%	22.77%	16.60%	-3.00%	32.72%	-8.47%	-18.39%	-11.07%	47.93%
Free Cash Flow Firm Q/Q Growth	-2.99%	6.56%	4.87%	61.10%	-0.98%	114.59%	-18.73%	-42.98%	-14.48%	650.59%
Invested Capital Q/Q Growth	0.60%	0.01%	-13.54%	-13.02%	-8.72%	-5.99%	2.07%	0.24%	5.99%	-3.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	75.71%	75.50%	75.81%	73.63%	72.46%	71.33%	74.26%	70.52%	70.09%	70.00%
EBITDA Margin	24.14%	24.30%	26.85%	26.08%	26.14%	19.90%	28.29%	19.27%	19.84%	19.31%
Operating Margin	22.31%	23.05%	24.00%	23.73%	22.54%	15.66%	24.70%	17.21%	16.66%	15.19%
EBIT Margin	22.01%	22.07%	24.29%	23.29%	22.86%	15.20%	25.54%	15.90%	16.15%	14.72%
Profit (Net Income) Margin	17.03%	17.57%	15.71%	20.35%	18.40%	71.84%	19.53%	9.68%	11.52%	10.54%
Tax Burden Percent	77.39%	78.20%	63.44%	85.77%	78.69%	468.64%	76.25%	60.36%	69.41%	69.19%
Interest Burden Percent	100.00%	101.77%	101.94%	101.87%	102.27%	100.83%	100.31%	100.90%	102.77%	103.43%
Effective Tax Rate	22.61%	21.11%	35.68%	12.37%	19.97%	-368.64%	23.75%	39.64%	30.59%	30.81%
Return on Invested Capital (ROIC)	91.39%	93.61%	77.30%	102.12%	92.37%	131.93%	32.38%	15.88%	17.14%	15.41%
ROIC Less NNEP Spread (ROIC-NNEP)	91.69%	94.56%	76.79%	103.20%	91.33%	136.14%	29.94%	18.12%	17.29%	15.32%
Return on Net Nonoperating Assets (RNNOA)	-73.39%	-73.03%	-55.77%	-68.87%	-58.30%	-54.38%	-9.86%	-5.87%	-4.83%	-4.14%
Return on Equity (ROE)	17.99%	20.58%	21.53%	33.25%	34.07%	77.55%	22.52%	10.01%	12.31%	11.26%
Cash Return on Invested Capital (CROIC)	79.47%	54.99%	47.42%	71.07%	89.17%	1.38%	30.07%	6.31%	13.69%	9.60%
Operating Return on Assets (OROA)	17.34%	18.66%	22.51%	23.88%	24.17%	10.25%	18.74%	9.99%	10.37%	9.57%
Return on Assets (ROA)	13.42%	14.85%	14.55%	20.86%	19.45%	48.45%	14.33%	6.08%	7.40%	6.85%
Return on Common Equity (ROCE)	17.99%	20.58%	21.53%	33.25%	34.07%	77.55%	22.52%	10.01%	12.31%	11.26%
Return on Equity Simple (ROE_SIMPLE)	16.99%	19.06%	20.05%	31.94%	32.89%	54.92%	21.31%	10.04%	12.26%	10.94%
Net Operating Profit after Tax (NOPAT)	146	196	227	409	434	1,814	745	388	447	420
NOPAT Margin	17.27%	18.19%	15.44%	20.79%	18.04%	73.40%	18.84%	10.39%	11.56%	10.51%
Net Nonoperating Expense Percent (NNEP)	-0.31%	-0.94%	0.51%	-1.07%	1.04%	-4.21%	2.43%	-2.25%	-0.15%	0.09%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	10.77%	12.30%	10.91%
Cost of Revenue to Revenue	24.29%	24.50%	24.19%	26.37%	27.54%	28.67%	25.74%	29.48%	29.92%	30.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	43.35%	44.54%	48.58%	43.23%	44.84%	44.10%	44.09%
R&D to Revenue	7.24%	7.01%	6.62%	6.55%	6.54%	7.09%	6.33%	8.17%	8.98%	9.11%
Operating Expenses to Revenue	53.40%	52.45%	51.81%	49.90%	49.92%	55.67%	49.56%	53.32%	53.43%	54.80%
Earnings before Interest and Taxes (EBIT)	186	238	358	458	550	376	1,009	594	624	589
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	204	262	396	513	629	492	1,118	719	766	772
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.17	7.70	15.43	13.37	16.34	13.03	14.30	4.57	5.78	4.04
Price to Tangible Book Value (P/TBV)	6.81	8.39	16.72	14.31	17.31	15.85	16.75	5.32	6.71	4.71
Price to Revenue (P/Rev)	6.19	7.09	12.09	8.52	9.14	17.05	13.11	4.41	5.43	3.89
Price to Earnings (P/E)	36.35	40.39	76.98	41.85	49.67	23.73	67.12	45.56	47.15	36.94
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.75%	2.48%	1.30%	2.39%	2.01%	4.21%	1.49%	2.19%	2.12%	2.71%
Enterprise Value to Invested Capital (EV/IC)	26.92	27.63	50.26	34.51	44.23	18.11	21.72	6.03	7.55	5.17
Enterprise Value to Revenue (EV/Rev)	5.39	6.40	11.54	8.12	8.78	16.66	12.78	4.13	5.18	3.63
Enterprise Value to EBITDA (EV/EBITDA)	22.32	26.36	42.97	31.12	33.57	83.72	45.19	21.45	26.10	18.81
Enterprise Value to EBIT (EV/EBIT)	24.48	29.01	47.50	34.84	38.39	109.56	50.06	25.99	32.06	24.67
Enterprise Value to NOPAT (EV/NOPAT)	31.21	35.21	74.74	39.04	48.65	22.69	67.86	39.79	44.80	34.54
Enterprise Value to Operating Cash Flow (EV/OCF)	19.14	27.92	38.76	28.77	28.27	62.18	43.09	27.13	25.46	19.67
Enterprise Value to Free Cash Flow (EV/FCFF)	35.89	59.95	121.82	56.09	50.40	2,174.08	73.06	100.14	56.10	55.41
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.80	-0.77	-0.73	-0.67	-0.64	-0.40	-0.33	-0.32	-0.28	-0.27
Leverage Ratio	1.34	1.39	1.48	1.59	1.75	1.60	1.57	1.65	1.66	1.64
Compound Leverage Factor	1.34	1.41	1.51	1.62	1.79	1.61	1.58	1.66	1.71	1.70
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	11.88	13.45	19.11	14.88	13.68	17.38	15.36	5.87	6.74	5.56
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.69	2.69	2.32	1.88	1.68	1.40	1.30	1.26	1.18	1.22
Quick Ratio	2.52	2.51	2.09	1.70	1.46	1.22	1.08	0.97	0.91	1.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	127	115	140	285	419	19	692	154	357	262
Operating Cash Flow to CapEx	445.26%	350.90%	224.09%	248.39%	499.16%	427.44%	292.33%	194.84%	442.15%	638.72%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.79	0.85	0.93	1.03	1.06	0.67	0.73	0.63	0.64	0.65
Accounts Receivable Turnover	5.87	5.32	5.16	5.15	4.87	4.09	5.08	4.25	4.38	4.21
Inventory Turnover	11.61	11.36	12.12	11.88	7.91	5.64	5.51	3.87	3.64	4.35
Fixed Asset Turnover	7.46	6.93	5.62	4.52	4.17	3.62	4.35	3.23	3.06	3.12
Accounts Payable Turnover	7.13	8.41	10.91	10.27	8.75	6.18	6.65	7.55	9.59	10.82
Days Sales Outstanding (DSO)	62.23	68.61	70.80	70.83	75.02	89.18	71.79	85.85	83.31	86.67
Days Inventory Outstanding (DIO)	31.45	32.14	30.11	30.73	46.17	64.71	66.29	94.33	100.40	83.84
Days Payable Outstanding (DPO)	51.19	43.42	33.47	35.55	41.71	59.07	54.90	48.37	38.07	33.74
Cash Conversion Cycle (CCC)	42.50	57.33	67.45	66.01	79.47	94.83	83.18	131.81	145.65	136.77
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	169	250	338	463	478	2,273	2,326	2,560	2,650	2,808
Invested Capital Turnover	5.29	5.15	5.01	4.91	5.12	1.80	1.72	1.53	1.48	1.47
Increase / (Decrease) in Invested Capital	19	81	88	124	15	1,795	53	234	90	158
Enterprise Value (EV)	4,556	6,915	16,999	15,961	21,123	41,175	50,524	15,432	20,005	14,522
Market Capitalization	5,234	7,661	17,815	16,751	21,992	42,136	51,821	16,474	20,985	15,566
Book Value per Share	$10.67	$12.49	$14.40	$15.66	$17.08	$41.01	$45.94	$46.10	$47.40	$51.60
Tangible Book Value per Share	$9.67	$11.46	$13.29	$14.64	$16.12	$33.72	$39.24	$39.66	$40.85	$44.28
Total Capital	848	995	1,154	1,253	1,346	3,234	3,623	3,601	3,630	3,852
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-679	-745	-816	-790	-869	-961	-1,297	-1,042	-981	-1,044
Capital Expenditures (CapEx)	53	71	196	223	150	155	401	292	178	116
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-67	-42	-63	-125	-206	-437	-601	-501	-593	-589
Debt-free Net Working Capital (DFNWC)	460	599	658	610	662	524	570	499	380	454
Net Working Capital (NWC)	460	599	658	610	662	524	570	499	380	454
Net Nonoperating Expense (NNE)	1.96	6.70	-3.98	8.62	-8.60	39	-27	26	1.48	-0.92
Net Nonoperating Obligations (NNO)	-679	-745	-816	-790	-869	-961	-1,297	-1,042	-981	-1,044
Total Depreciation and Amortization (D&A)	18	24	38	55	79	116	109	126	142	183
Debt-free, Cash-free Net Working Capital to Revenue	-7.92%	-3.85%	-4.29%	-6.35%	-8.57%	-17.67%	-15.21%	-13.42%	-15.35%	-14.74%
Debt-free Net Working Capital to Revenue	54.45%	55.44%	44.68%	31.04%	27.52%	21.20%	14.42%	13.35%	9.84%	11.36%
Net Working Capital to Revenue	54.45%	55.44%	44.68%	31.04%	27.52%	21.20%	14.42%	13.35%	9.84%	11.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.80	$2.38	$2.89	$5.00	$5.57	$22.55	$9.78	$4.62	$5.82	$5.63
Adjusted Weighted Average Basic Shares Outstanding	80.00M	79.86M	80.09M	80.06M	79.42M	78.76M	78.92M	78.19M	76.43M	74.88M
Adjusted Diluted Earnings per Share	$1.77	$2.33	$2.83	$4.92	$5.53	$22.41	$9.69	$4.61	$5.81	$5.62
Adjusted Weighted Average Diluted Shares Outstanding	81.52M	81.48M	81.83M	81.36M	80.10M	79.23M	79.67M	78.42M	76.57M	74.99M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	79.63M	80.28M	80.14M	79.99M	78.75M	79.13M	78.80M	76.61M	75.10M	73.60M
Normalized Net Operating Profit after Tax (NOPAT)	146	196	227	409	412	271	745	395	456	465
Normalized NOPAT Margin	17.27%	18.19%	15.44%	20.79%	17.11%	10.96%	18.84%	10.57%	11.80%	11.62%
Pre Tax Income Margin	22.01%	22.46%	24.76%	23.73%	23.38%	15.33%	25.61%	16.04%	16.60%	15.23%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	70.68%	50.73%	44.85%	74.96%	90.34%	0.00%	48.58%	131.38%	135.35%	83.75%

This table displays calculated financial ratios and metrics derived from Align Technology's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-12.36%	-12.57%	-3.09%	3.36%	7.85%	6.12%	5.76%	2.63%	1.84%	4.02%
EBITDA Growth	-47.05%	-41.24%	-22.33%	-0.32%	26.43%	37.86%	16.92%	-8.29%	8.09%	-10.62%
EBIT Growth	-53.76%	-48.68%	-29.19%	-3.57%	29.46%	49.17%	16.41%	-15.91%	3.41%	-21.23%
NOPAT Growth	-52.79%	-78.71%	-38.63%	-8.38%	46.32%	201.52%	17.38%	-11.91%	-8.97%	-13.62%
Net Income Growth	-59.83%	-78.12%	-34.62%	-0.87%	67.02%	196.86%	19.62%	-13.64%	-4.50%	-16.29%
EPS Growth	-59.21%	-77.41%	-32.94%	1.39%	69.89%	201.85%	21.93%	-12.33%	-1.90%	-14.11%
Operating Cash Flow Growth	-24.94%	-46.96%	555.44%	98.18%	7.78%	-67.59%	-85.66%	-36.52%	-8.20%	510.00%
Free Cash Flow Firm Growth	-159.33%	-239.11%	152.43%	164.20%	194.08%	117.17%	-362.95%	-310.63%	-262.15%	-257.21%
Invested Capital Growth	12.05%	10.05%	0.49%	-0.66%	-2.10%	3.51%	11.67%	14.26%	16.10%	5.98%
Revenue Q/Q Growth	-8.17%	1.25%	4.62%	6.26%	-4.19%	-0.36%	4.25%	3.11%	-4.92%	1.77%
EBITDA Q/Q Growth	-24.80%	-4.50%	14.94%	20.75%	-4.62%	4.14%	-2.52%	-5.29%	12.42%	-13.89%
EBIT Q/Q Growth	-30.23%	-6.94%	17.52%	26.37%	-6.33%	7.22%	-8.28%	-8.72%	15.20%	-18.32%
NOPAT Q/Q Growth	-30.36%	-52.08%	113.36%	28.67%	11.21%	-1.24%	-16.94%	-3.43%	14.92%	-6.29%
Net Income Q/Q Growth	-35.55%	-42.54%	110.17%	27.35%	8.60%	2.13%	-15.31%	-8.06%	20.09%	-10.48%
EPS Q/Q Growth	-35.42%	-41.94%	111.11%	28.07%	8.22%	3.16%	-14.72%	-7.91%	21.09%	-9.68%
Operating Cash Flow Q/Q Growth	109.75%	-45.70%	38.14%	25.95%	14.07%	-83.67%	-38.88%	457.59%	64.97%	8.50%
Free Cash Flow Firm Q/Q Growth	5.98%	-1.81%	138.73%	73.19%	37.76%	-81.42%	-693.11%	-38.73%	-6.05%	81.98%
Invested Capital Q/Q Growth	-2.60%	0.24%	-0.05%	1.79%	-4.02%	5.99%	7.84%	4.15%	-2.47%	-3.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	69.54%	68.52%	70.05%	71.21%	69.06%	69.98%	69.96%	70.26%	69.72%	70.03%
EBITDA Margin	17.20%	16.22%	17.82%	20.25%	20.16%	21.08%	19.71%	18.10%	21.40%	18.11%
Operating Margin	16.13%	12.50%	14.16%	17.16%	17.32%	17.93%	15.45%	14.30%	16.60%	14.48%
EBIT Margin	13.59%	12.49%	14.03%	16.68%	16.31%	17.55%	15.44%	13.67%	16.56%	13.29%
Profit (Net Income) Margin	8.17%	4.63%	9.31%	11.16%	12.65%	12.96%	10.53%	9.39%	11.86%	10.43%
Tax Burden Percent	59.28%	36.23%	65.22%	65.16%	74.90%	71.73%	66.31%	67.12%	69.89%	73.74%
Interest Burden Percent	101.39%	102.45%	101.77%	102.64%	103.53%	102.96%	102.85%	102.35%	102.47%	106.44%
Effective Tax Rate	40.72%	63.78%	34.78%	34.84%	25.10%	28.27%	33.69%	32.88%	30.11%	26.26%
Return on Invested Capital (ROIC)	15.30%	6.92%	13.40%	15.99%	19.55%	19.07%	14.82%	13.56%	17.01%	15.65%
ROIC Less NNEP Spread (ROIC-NNEP)	16.34%	6.84%	13.33%	16.01%	19.81%	18.98%	14.51%	13.80%	16.79%	15.90%
Return on Net Nonoperating Assets (RNNOA)	-5.39%	-2.21%	-3.81%	-4.45%	-6.46%	-5.31%	-3.66%	-3.39%	-5.08%	-4.30%
Return on Equity (ROE)	9.90%	4.71%	9.59%	11.54%	13.10%	13.77%	11.16%	10.17%	11.93%	11.35%
Cash Return on Invested Capital (CROIC)	11.19%	6.31%	12.58%	13.07%	16.50%	13.69%	6.02%	2.76%	1.29%	9.60%
Operating Return on Assets (OROA)	9.08%	7.84%	8.77%	10.43%	10.15%	11.27%	10.03%	8.76%	10.34%	8.64%
Return on Assets (ROA)	5.46%	2.91%	5.82%	6.98%	7.87%	8.32%	6.84%	6.02%	7.41%	6.78%
Return on Common Equity (ROCE)	9.90%	4.71%	9.59%	11.54%	13.10%	13.77%	11.16%	10.17%	11.93%	11.35%
Return on Equity Simple (ROE_SIMPLE)	13.82%	0.00%	9.05%	8.63%	9.54%	0.00%	12.30%	11.90%	11.20%	0.00%
Net Operating Profit after Tax (NOPAT)	85	41	87	112	125	123	102	99	113	106
NOPAT Margin	9.56%	4.53%	9.23%	11.18%	12.98%	12.86%	10.25%	9.60%	11.60%	10.68%
Net Nonoperating Expense Percent (NNEP)	-1.05%	0.08%	0.07%	-0.02%	-0.26%	0.09%	0.31%	-0.24%	0.22%	-0.25%
Return On Investment Capital (ROIC_SIMPLE)	-	1.13%	-	-	-	3.39%	-	-	-	2.76%
Cost of Revenue to Revenue	30.46%	31.48%	29.95%	28.79%	30.95%	30.02%	30.04%	29.74%	30.28%	29.97%
SG&A Expenses to Revenue	44.76%	45.49%	46.62%	45.22%	42.49%	42.07%	45.30%	43.97%	44.40%	42.70%
R&D to Revenue	8.64%	9.26%	9.27%	8.83%	9.24%	8.59%	9.21%	8.96%	8.72%	9.53%
Operating Expenses to Revenue	53.41%	56.02%	55.89%	54.05%	51.73%	52.05%	54.51%	55.96%	53.12%	55.54%
Earnings before Interest and Taxes (EBIT)	121	113	132	167	157	168	154	141	162	132
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	153	146	168	203	194	202	197	186	209	180
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.38	4.57	7.36	7.44	6.15	5.78	6.68	4.84	4.82	4.04
Price to Tangible Book Value (P/TBV)	5.02	5.32	8.61	8.63	7.05	6.71	7.90	5.70	5.66	4.71
Price to Revenue (P/Rev)	4.19	4.41	6.91	7.24	6.14	5.43	6.41	4.61	4.80	3.89
Price to Earnings (P/E)	31.67	45.56	81.25	86.15	64.41	47.15	54.33	40.66	43.02	36.94
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.16%	2.19%	1.23%	1.16%	1.55%	2.12%	1.84%	2.46%	2.32%	2.71%
Enterprise Value to Invested Capital (EV/IC)	5.89	6.03	9.64	9.99	8.83	7.55	8.47	5.84	6.19	5.17
Enterprise Value to Revenue (EV/Rev)	3.89	4.13	6.66	6.96	5.80	5.18	6.18	4.41	4.53	3.63
Enterprise Value to EBITDA (EV/EBITDA)	18.29	21.45	36.77	38.82	31.04	26.10	30.84	22.92	23.47	18.81
Enterprise Value to EBIT (EV/EBIT)	21.47	25.99	45.77	48.83	38.81	32.06	37.50	28.10	28.76	24.67
Enterprise Value to NOPAT (EV/NOPAT)	27.59	39.79	74.01	80.27	60.73	44.80	52.46	38.80	41.05	34.54
Enterprise Value to Operating Cash Flow (EV/OCF)	21.58	27.13	33.43	30.16	24.97	25.46	39.40	33.28	35.98	19.67
Enterprise Value to Free Cash Flow (EV/FCFF)	55.63	100.14	76.86	76.18	52.92	56.10	148.64	225.78	514.25	55.41
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.33	-0.32	-0.29	-0.28	-0.33	-0.28	-0.25	-0.25	-0.30	-0.27
Leverage Ratio	1.60	1.65	1.66	1.65	1.63	1.66	1.67	1.66	1.64	1.64
Compound Leverage Factor	1.63	1.69	1.69	1.70	1.69	1.71	1.71	1.70	1.68	1.75
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	5.87	5.61	7.67	7.81	6.94	6.50	7.67	5.89	6.08	5.31
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.38	1.26	1.16	1.17	1.27	1.18	1.23	1.18	1.26	1.22
Quick Ratio	1.08	0.97	0.88	0.91	1.03	0.91	0.91	0.88	0.99	1.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-190	-193	75	129	178	33	-196	-273	-289	-52
Operating Cash Flow to CapEx	353.67%	271.99%	311.76%	430.06%	1,327.32%	140.35%	305.95%	299.02%	884.77%	1,245.93%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.67	0.63	0.63	0.63	0.62	0.64	0.65	0.64	0.62	0.65
Accounts Receivable Turnover	4.51	4.25	4.04	4.06	4.32	4.38	4.27	4.09	4.14	4.21
Inventory Turnover	4.18	3.87	3.81	3.62	3.73	3.64	3.96	4.16	4.32	4.35
Fixed Asset Turnover	3.51	3.23	3.08	3.04	3.08	3.06	3.08	3.08	3.10	3.12
Accounts Payable Turnover	7.03	7.55	7.06	8.81	9.66	9.59	9.46	11.02	11.39	10.82
Days Sales Outstanding (DSO)	80.98	85.85	90.41	89.87	84.55	83.31	85.51	89.26	88.23	86.67
Days Inventory Outstanding (DIO)	87.32	94.33	95.78	100.93	97.76	100.40	92.14	87.77	84.48	83.84
Days Payable Outstanding (DPO)	51.90	48.37	51.69	41.45	37.80	38.07	38.57	33.12	32.04	33.74
Cash Conversion Cycle (CCC)	116.40	131.81	134.51	149.35	144.51	145.65	139.08	143.91	140.67	136.77
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,554	2,560	2,559	2,605	2,500	2,650	2,857	2,976	2,902	2,808
Invested Capital Turnover	1.60	1.53	1.45	1.43	1.51	1.48	1.45	1.41	1.47	1.47
Increase / (Decrease) in Invested Capital	275	234	12	-17	-54	90	299	371	402	158
Enterprise Value (EV)	15,036	15,432	24,677	26,026	22,065	20,005	24,213	17,393	17,955	14,522
Market Capitalization	16,177	16,474	25,599	27,059	23,367	20,985	25,115	18,175	18,997	15,566
Book Value per Share	$47.30	$46.10	$45.43	$47.55	$49.68	$47.40	$50.01	$49.92	$52.80	$51.60
Tangible Book Value per Share	$41.29	$39.66	$38.80	$40.96	$43.31	$40.85	$42.30	$42.34	$44.94	$44.28
Total Capital	3,695	3,601	3,480	3,638	3,802	3,630	3,760	3,758	3,944	3,852
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-1,141	-1,042	-921	-1,034	-1,302	-981	-903	-782	-1,042	-1,044
Capital Expenditures (CapEx)	75	53	64	59	22	33	9.37	53	30	23
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-400	-501	-557	-649	-705	-593	-443	-410	-508	-589
Debt-free Net Working Capital (DFNWC)	691	499	327	358	579	380	456	372	534	454
Net Working Capital (NWC)	691	499	327	358	579	380	456	372	534	454
Net Nonoperating Expense (NNE)	12	-0.96	-0.72	0.22	3.17	-0.96	-2.82	2.13	-2.54	2.49
Net Nonoperating Obligations (NNO)	-1,141	-1,042	-921	-1,034	-1,302	-981	-903	-782	-1,042	-1,044
Total Depreciation and Amortization (D&A)	32	34	36	36	37	34	43	46	47	48
Debt-free, Cash-free Net Working Capital to Revenue	-10.34%	-13.42%	-15.03%	-17.38%	-18.52%	-15.35%	-11.30%	-10.39%	-12.83%	-14.74%
Debt-free Net Working Capital to Revenue	17.89%	13.35%	8.83%	9.59%	15.20%	9.84%	11.65%	9.44%	13.48%	11.36%
Net Working Capital to Revenue	17.89%	13.35%	8.83%	9.59%	15.20%	9.84%	11.65%	9.44%	13.48%	11.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.93	$0.54	$1.14	$1.46	$1.59	$1.63	$1.40	$1.28	$1.55	$1.40
Adjusted Weighted Average Basic Shares Outstanding	78.09M	78.19M	76.92M	76.52M	76.57M	76.43M	75.18M	75.18M	74.74M	74.88M
Adjusted Diluted Earnings per Share	$0.93	$0.54	$1.14	$1.46	$1.58	$1.63	$1.39	$1.28	$1.55	$1.40
Adjusted Weighted Average Diluted Shares Outstanding	78.24M	78.42M	77.11M	76.69M	76.83M	76.57M	75.32M	75.22M	74.76M	74.99M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	78.11M	76.61M	76.52M	76.53M	76.59M	75.10M	75.28M	74.70M	74.65M	73.60M
Normalized Net Operating Profit after Tax (NOPAT)	85	79	87	112	125	123	102	120	113	106
Normalized NOPAT Margin	9.56%	8.75%	9.23%	11.18%	12.98%	12.86%	10.25%	11.63%	11.60%	10.68%
Pre Tax Income Margin	13.77%	12.79%	14.27%	17.12%	16.88%	18.07%	15.88%	13.99%	16.97%	14.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	73.43%	131.38%	207.05%	144.02%	124.68%	135.35%	75.71%	111.85%	113.24%	83.75%

Frequently Asked Questions About Align Technology's Financials

When does Align Technology's financial year end?

According to the most recent income statement we have on file, Align Technology's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Align Technology's net income changed over the last 9 years?

Align Technology's net income appears to be on an upward trend, with a most recent value of $421.36 million in 2024, rising from $144.02 million in 2015. The previous period was $445.05 million in 2023. Check out Align Technology's forecast to explore projected trends and price targets.

What is Align Technology's operating income?

Align Technology's total operating income in 2024 was $607.63 million, based on the following breakdown:

Total Gross Profit: $2.80 billion
Total Operating Expenses: $2.19 billion

How has Align Technology revenue changed over the last 9 years?

Over the last 9 years, Align Technology's total revenue changed from $845.49 million in 2015 to $4.00 billion in 2024, a change of 373.0%.

How much debt does Align Technology have?

Align Technology's total liabilities were at $2.36 billion at the end of 2024, a 3.7% decrease from 2023, and a 660.4% increase since 2015.

How much cash does Align Technology have?

In the past 9 years, Align Technology's cash and equivalents has ranged from $167.71 million in 2015 to $1.10 billion in 2021, and is currently $1.04 billion as of their latest financial filing in 2024.

How has Align Technology's book value per share changed over the last 9 years?

Over the last 9 years, Align Technology's book value per share changed from 10.67 in 2015 to 51.60 in 2024, a change of 383.7%.

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This page (NASDAQ:ALGN) was last updated on 5/6/2025 by MarketBeat.com Staff

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Align Technology (ALGN) Financials

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Align Technology (ALGN) Financials

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