ALGNNasdaqOrthopedic, Prosthetic & Surgical Appliances & SuppliesFiscal year ends December 31
ALIGN TECHNOLOGY INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$149.00+1.69 (+1.15%)
Close on Oct 19, 2026
- Market cap
- $10.66B
- P/E (TTM)
- 25.9
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
67.2%−4.1 pts over 5 years
Operating margin
13.5%−2.1 pts over 5 years
Net margin
10.2%−61.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +0.9% | +2.6% | +10.3% | +16.9% | |
| Gross profit | -3.1% | +1.0% | +9.0% | +15.5% | |
| Operating income | -10.2% | -5.3% | +7.1% | +11.2% | |
| Net income | -2.6% | +4.3% | -25.4% | +11.0% | |
| EPS, diluted | +0.5% | +7.0% | -24.1% | +12.3% | |
| Free cash flow | -21.2% | +21.0% | -0.7% | +10.3% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 20.5% | 77.5% | 10.4% | |
| Return on assets | 14.8% | 48.5% | 6.6% | |
| Current ratio | 2.69 | 1.40 | 1.36 | |
| Inventory turnover | 11.4× | 5.6× | 5.5× | |
| Capex to revenue | 6.5% | 6.3% | 2.5% | |
| Diluted shares | 81M | 79M | 73M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Align Technology generated $3.86B from operations and spent $3.31B on capital expenditure, dividends and share buybacks. 33% of that went back into the business.
Generated
$3.86B
Used
$3.31B
Capital expenditure$1.09B33%Dividends$00%Share buybacks$2.22B67%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.2%
×Asset turnover0.65×
×Equity multiplier1.58×
=Return on equity, FY202510.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 10.2% | 0.65× | 1.58× | 10.4% |
| FY2024 | 10.5% | 0.65× | 1.64× | 11.3% |
| FY2023 | 11.5% | 0.64× | 1.66× | 12.3% |
| FY2022 | 9.7% | 0.63× | 1.65× | 10.0% |
| FY2021 | 19.5% | 0.73× | 1.57× | 22.5% |
| FY2020 | 71.8% | 0.67× | 1.60× | 77.5% |
| FY2019 | 18.4% | 1.06× | 1.75× | 34.1% |
| FY2018 | 20.4% | 1.03× | 1.59× | 33.3% |
| FY2017 | 15.7% | 0.93× | 1.48× | 21.5% |
| FY2016 | 17.6% | 0.85× | 1.38× | 20.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$410.35M
- Cash generatingOperating cash flow above zero$593.22M
- Return on assets improvedROA up on the prior year6.9% → 6.6%
- Earnings backed by cashOperating cash flow above net income$593.22M vs $410.35M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.22 → 1.36
- No dilutionShare count did not rise75M → 73M
- Gross margin improvedGross margin up on the prior year70.00% → 67.19%
- More efficientAsset turnover rose0.66 → 0.65