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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. ALGN Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Align Technology (ALGN)

Market Price (9/16/2025): $131.0 | Market Cap: $9.5 Bil
Sector: Health Care | Industry: Health Care Supplies

Align Technology (ALGN)

Market Price (9/16/2025): $131.0
Market Cap: $9.5 Bil
Sector: Health Care
Industry: Health Care Supplies

Investment Highlights

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%		 Weak multi-year price returns
2Y Excs Rtn is -108%, 3Y Excs Rtn is -114%		 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.1%, Rev Chg QQuarterly Revenue Change % is -1.6%
1 Attractive yield
FCF Yield is 6.6%		  
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%
1 Attractive yield
FCF Yield is 6.6%
2 Weak multi-year price returns
2Y Excs Rtn is -108%, 3Y Excs Rtn is -114%
3 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.1%, Rev Chg QQuarterly Revenue Change % is -1.6%

Market Valuation

 9/16/252024202320222021
Share Price CYE$131.00$208.51$274.00$210.90$657.18
Market Cap CYE ($ Bil)9.515.520.716.451.8
Total Debt ($ Bil)0.10.10.10.10.1
Total Cash ($ Bil)0.91.01.01.01.2
Enterprise Value ($ Bil)8.715.620.816.551.9
Valuation Ratios     
P/S TTM2.43.95.44.413.1
P/EBIT TTM14.923.231.925.253.1
P/E TTM21.737.047.045.667.2
Sector Ratios     
P/S TTM (Sector)3.83.64.14.57.3
P/EBIT TTM (Sector)-1.6-1.3-1.4-1.3-2.9
P/E TTM (Sector)-1.9-1.6-1.5-1.4-2.9
 9/16/2520242023
Share Price CYE$131.00$208.51$274.00
Market Cap CYE ($ Bil)9.515.520.7
Total Debt ($ Bil)0.10.10.1
Total Cash ($ Bil)0.91.01.0
Enterprise Value ($ Bil)8.715.620.8
Valuation Ratios   
P/S TTM2.43.95.4
P/EBIT TTM14.923.231.9
P/E TTM21.737.047.0
Sector Ratios   
P/S TTM (Sector)3.83.64.1
P/EBIT TTM (Sector)-1.6-1.3-1.4
P/E TTM (Sector)-1.9-1.6-1.5

Market Cap Chart

Business Description

Align Technology, Inc., a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign comprehensive treatment that addresses the orthodontic needs of teenage patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of seven and ten years, which is a mixture of primary/baby and permanent teeth. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
ALGN Return92%23%-68%30%-24%-37%-53%
Peers Return24%27%-27%19%-14%-11%5%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: STE, HSIC, XRAY, WST, COO. See ALGN Returns vs. Peers.
[3] 2025 data is for the year up to 9/15/2025 (YTD)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Align Technology Earnings Notes  
2Better Bet Than ALGN Stock: Pay Less Than Align Technology To Get More From AVNS, HAE Actionable 
3ALGN Down 9.7% In A Month. How Confident Are You In The Stock?Return 
4ALGN Drops 26% in a Month, But Does GOOGL Offer Better Fundamentals?Counter-Intuitive Comparisons 
5ALGN Drops 26% in a Month, But Does JNJ Offer Better Fundamentals?Counter-Intuitive Comparisons 
6After ALGN's 26% Single Month Slide, LNTH Looks Like the Stronger Long-Term PlayCounter-Intuitive Comparisons 
7How Does ALGN Stack Up Against Its Peers?Peer Comparison 
8Better Bet Than ALGN Stock: Pay Less Than Align Technology To Get More From UNH, MRK   
9Better Bet Than ALGN Stock: Pay Less Than Align Technology To Get More From HAE   
10ALGN Dip Buy Analysis  
11ARTICLES  
12Better Bet Than Align Technology Stock: Pay Less To Get More From HAE, AVNS August 26th, 2025
13ALGN Down 29% In A Month. How Confident Are You In The Stock? August 25th, 2025
14ALGN Dropped 24% In A Month. Have You Fully Evaluated The Risk? August 14th, 2025
15S&P 500 Movers | Winners: MPWR, ALGN, FSLR | Losers: EMN, COIN, IR August 2nd, 2025
16S&P 500 Stocks Trading At 52-Week Low August 1st, 2025
Title
0DASHBOARDS
1Better Bet Than Align Technology Stock: Pay Less To Get More From HAE, AVNS
2ALGN Down 29% In A Month. How Confident Are You In The Stock?
3ALGN Dropped 24% In A Month. Have You Fully Evaluated The Risk?
4S&P 500 Movers | Winners: MPWR, ALGN, FSLR | Losers: EMN, COIN, IR
5S&P 500 Stocks Trading At 52-Week Low
6ARTICLES
7Align Technology Earnings Notes
8Better Bet Than ALGN Stock: Pay Less Than Align Technology To Get More From AVNS, HAE 
9ALGN Down 9.7% In A Month. How Confident Are You In The Stock?
10ALGN Drops 26% in a Month, But Does GOOGL Offer Better Fundamentals?
11ALGN Drops 26% in a Month, But Does JNJ Offer Better Fundamentals?
12After ALGN's 26% Single Month Slide, LNTH Looks Like the Stronger Long-Term Play
13How Does ALGN Stack Up Against Its Peers?
14Better Bet Than ALGN Stock: Pay Less Than Align Technology To Get More From UNH, MRK 
15Better Bet Than ALGN Stock: Pay Less Than Align Technology To Get More From HAE 
16ALGN Dip Buy Analysis

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1NXTTNext Technology18985.5%1080.3%
2BDSXBiodesix1658.4%-75.2%
3VCIGVCI Global1460.0%-66.8%
4CLSDClearside Biomedical1075.2%-72.3%
5SDOTSadot806.7%-78.2%
6WLDSWearable Devices539.8%-24.4%
7QMMMQMMM536.6%5505.5%
8ATCHAtlasClear382.9%-89.7%
9OPIOffice Properties Income Trust274.5%-8.3%
10CWDCaliberCos246.5%-46.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1DGNXDiginex-83.7% 
2ATYRaTyr Pharma-81.4%-72.0%
3LGCLLucas GC-73.2%-78.3%
4NAKAKindly MD-72.8% 
5OCTOEightco-67.8%562.1%
6YYGHYY-67.0%-78.2%
7SNTGSentage-58.1%57.5%
8REXREX American Resources-50.7%-26.7%
9BINIBollinger Innovations-49.2%-100.0%
10SLXNSilexion Therapeutics-49.2%-88.0%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical11963.5%11963.5%
2GIBOGIBO7309.3% 
3CHSNChanson International5551.3%-99.3%
4LNZALanzaTech Global5145.9%-85.7%
5QMMMQMMM2490.3%5505.5%
6NXTTNext Technology2167.7%1080.3%
7VTAKCatheter Precision1543.9%-70.5%
8CURXCuranex Pharmaceuticals1282.0%1282.0%
9VCIGVCI Global1278.3%-66.8%
10OCTOEightco800.6%562.1%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1CJETChijet Motor-93.3%-95.1%
2ELPWElong Power-92.4%-76.5%
3STFSStar Fashion Culture-92.1%-97.9%
4ETSElite Express-92.0%-92.0%
5NAKAKindly MD-91.7% 
6BINIBollinger Innovations-90.5%-100.0%
7FLYEFly-E-89.8%-81.2%
8JEM707 Cayman-89.8%-98.3%
9NUTRNusaTrip-86.7%-86.7%
10CUPRCuprina-84.9% 

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1NXTTNext Technology18985.5%1080.3%
2BDSXBiodesix1658.4%-75.2%
3VCIGVCI Global1460.0%-66.8%
4CLSDClearside Biomedical1075.2%-72.3%
5SDOTSadot806.7%-78.2%
6WLDSWearable Devices539.8%-24.4%
7QMMMQMMM536.6%5505.5%
8ATCHAtlasClear382.9%-89.7%
9OPIOffice Properties Income Trust274.5%-8.3%
10CWDCaliberCos246.5%-46.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1DGNXDiginex-83.7% 
2ATYRaTyr Pharma-81.4%-72.0%
3LGCLLucas GC-73.2%-78.3%
4NAKAKindly MD-72.8% 
5OCTOEightco-67.8%562.1%
6YYGHYY-67.0%-78.2%
7SNTGSentage-58.1%57.5%
8REXREX American Resources-50.7%-26.7%
9BINIBollinger Innovations-49.2%-100.0%
10SLXNSilexion Therapeutics-49.2%-88.0%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Align Technology

Financials

ALGNSTEHSICXRAYWSTCOOMedian
NameAlign Te.Steris Henry Sc.Dentsply.West Pha.Cooper C. 
Mkt Price131.06247.8168.8113.54257.5365.4899.94
Mkt Cap9.524.48.42.718.613.111.3
Rev LTM3,9655,57112,7733,6712,9604,0464,005
Op Inc LTM638997771253622741689
FCF LTM632909334138344412378
FCF 3Y Avg549666436233366274401
CFO LTM7311,264512283677816704
CFO 3Y Avg7061,022619381712665685

Growth & Margins

ALGNSTEHSICXRAYWSTCOOMedian
NameAlign Te.Steris Henry Sc.Dentsply.West Pha.Cooper C. 
Rev Chg LTM0.6%6.4%2.3%-5.8%2.9%6.4%2.6%
Rev Chg 3Y Avg-0.1%8.2%0.2%-3.9%0.4%7.9%0.3%
Rev Chg Q-1.6%8.7%3.3%-4.9%9.2%5.7%4.5%
QoQ Delta Rev Chg LTM-0.4%2.0%0.8%-1.3%2.2%1.4%1.1%
Op Mgn LTM16.1%17.9%6.0%6.9%21.0%18.3%17.0%
Op Mgn 3Y Avg16.3%17.6%5.8%7.0%22.2%16.5%16.4%
QoQ Delta Op Mgn LTM-0.3%0.3%-0.0%1.2%0.5%-0.7%0.1%
CFO/Rev LTM18.4%22.7%4.0%7.7%22.9%20.2%19.3%
CFO/Rev 3Y Avg18.3%19.8%4.9%9.9%24.6%17.5%17.9%
FCF/Rev LTM15.9%16.3%2.6%3.8%11.6%10.2%10.9%
FCF/Rev 3Y Avg14.2%12.8%3.5%6.0%12.6%7.2%9.9%

Valuation

ALGNSTEHSICXRAYWSTCOOMedian
NameAlign Te.Steris Henry Sc.Dentsply.West Pha.Cooper C. 
Mkt Cap9.524.48.42.718.613.111.3
P/S2.44.40.70.76.33.22.8
P/EBIT14.926.412.7-2.631.118.116.5
P/E21.737.721.6-2.838.132.026.9
P/CFO13.019.316.49.527.516.016.2
Total Yield4.6%3.6%4.6%-31.6%2.8%3.1%3.3%
Dividend Yield0.0%0.9%0.0%3.6%0.2%0.0%0.1%
FCF Yield 3Y Avg3.0%2.9%4.8%4.6%1.7%1.7%3.0%
D/E0.00.10.40.90.00.20.1
Net D/E-0.10.10.40.8-0.00.20.1

Returns

ALGNSTEHSICXRAYWSTCOOMedian
NameAlign Te.Steris Henry Sc.Dentsply.West Pha.Cooper C. 
1M Rtn-8.0%1.2%1.4%-2.2%4.6%-10.6%-0.5%
3M Rtn-28.2%3.0%-2.8%-14.1%14.9%-6.1%-4.4%
6M Rtn-22.7%9.3%-4.2%-11.4%11.5%-18.1%-7.8%
12M Rtn-46.2%2.3%-2.2%-46.7%-14.1%-40.8%-27.4%
3Y Rtn-47.4%31.8%-4.0%-54.7%-3.2%-10.1%-7.1%
1M Excs Rtn-10.5%-1.3%-0.9%-4.6%2.3%-13.1%-3.0%
3M Excs Rtn-37.0%-7.7%-12.6%-23.2%5.5%-16.7%-14.7%
6M Excs Rtn-38.5%-7.4%-19.8%-28.5%-5.2%-36.7%-24.2%
12M Excs Rtn-60.9%-15.7%-16.5%-62.4%-33.7%-58.8%-46.2%
3Y Excs Rtn-114.2%-40.5%-71.3%-121.0%-80.9%-80.0%-80.5%

Comparison Analyses

Title
0How Does ALGN Stack Up Against Its Peers?
1Align Technology vs. Snowflake: With Return Forecast Of 73%, Snowflake Is A Better Bet
2Align Technology vs. ARM: With Return Forecast Of 43%, ARM Is A Better Bet
3Align Technology vs. CrowdStrike: With Return Forecast Of 37%, CrowdStrike Is A Better Bet
4Align Technology vs. Warner Music: With Return Forecast Of 11%, Warner Music Is A Better Bet
5Align Technology vs. Liberty Broadband: Neither Seems Like A Good Bet
6Align Technology vs. Hyatt Hotels: Neither Seems Like A Good Bet
7Align Technology vs. Fair Isaac: With Return Forecast Of 14%, Fair Isaac Is A Better Bet
8Align Technology vs. Veeva Systems: With Return Forecast Of 38%, Veeva Systems Is A Better Bet
9Align Technology vs. Digital Realty Trust: With Return Forecast Of 11%, Digital Realty Trust Is A Better Bet

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/6/20255/8/20252/28/202511/5/20248/2/20245/3/20242/28/202411/3/20238/4/20235/5/20232/27/202311/4/2022
Key Financials Quarterly            
Total Revenue1,0129799959781,0289979579601,002943902890
Ebitda204174215200214187219203208169158176
Operating Income163135177162178154185166172134124144
Net Income1259310411697105124121112884273
EPS1.721.271.391.551.281.401.641.591.461.140.540.93
Key Financials TTM            
Total Revenue TTM3,9653,9813,9993,9613,9433,9173,8623,8073,7373,7053,7353,864
Ebitda TTM793804817820823817799738711721780873
Operating Income TTM638653672680684677657596573589654751
Net Income TTM438410421442447462445363314315362511
Growth Rates Quarterly            
Total Revenue Growth-1.6%-1.8%4.0%1.8%2.6%5.8%6.1%7.8%3.4%-3.1%-12.6%-12.4%
EBITDA Growth-5.0%-6.8%-1.5%-1.6%3.2%10.5%38.5%15.7%-4.9%-25.6%-37.0%-39.1%
Operating Income Growth-8.5%-12.2%-4.2%-2.4%3.6%15.4%48.9%15.8%-8.6%-32.6%-43.8%-45.0%
Net Income Growth29.0%-11.2%-16.3%-4.5%-13.6%19.6%196.9%67.0%-0.9%-34.6%-78.1%-59.8%
Margins Quarterly            
EBITDA Margin20.1%17.8%21.6%20.5%20.8%18.8%22.8%21.2%20.7%18.0%17.5%19.8%
Operating Income Margin16.1%13.8%17.8%16.6%17.3%15.5%19.3%17.3%17.2%14.2%13.8%16.1%
Net Income Margin12.3%9.5%10.4%11.9%9.4%10.5%13.0%12.6%11.2%9.3%4.6%8.2%
Cash & Debt            
Total Cash9018731,0441,0427828999731,2841,0088841,0001,091
Total Debt123119119128129126127127133127127121
Net Debt / (Cash)-778-754-925-914-653-772-846-1,157-874-757-873-970
Cash Flows Quarterly            
FCF from Operations129532862641602947287252200145266
Cash Flows TTM            
FCF from Operations TTM731762738499523615786884863738569697
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases96201203-0150-0300-0-0292160-0
Return on Invested Capital (ROIC) Quarterly            
ROIC66.0%55.2%117.7%99.2%73.8%84.3%157.3%1307.9%160.8%99.7%111.0%680.4%
Return on Invested Capital (ROIC) TTM            
ROIC TTM63.4%69.6%104.8%102.3%74.0%97.1%135.2%972.1%118.7%97.4%243.7%1088.5%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Clear Aligner3,1993,0733,2472,1012,026
Systems and Services663662706370381
Total3,8623,7353,9532,4722,407


Operating Income by Segment
$ Mil20242023202220212020
Clear Aligner1,1821,1341,326768836
Systems and Services19118025996138
Unallocated corporate expenses-730-672-609-477-431
Total643643976387542


Price Behavior

ALGN Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta0.572.412.081.221.271.51
Up Beta3.253.112.601.431.401.63
Down Beta-3.61-2.45-0.380.460.751.12
Up Capture130%180%147%138%123%340%
Bmk +ve Days10223571142415
Stock +ve Days11203665118367
Down Capture-12%615%420%160%140%108%
Bmk -ve Days11192754106334
Stock -ve Days10212660130383

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity2,177,780
Short Interest: % Change Since 8152025-5.5%
Average Daily Volume1,224,952
Days-to-Cover Short Interest1.78
Basic Shares Quantity72,565,000
Short % of Basic Shares3.0%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/30/2025-36.6%-32.8%-30.7%
4/30/20252.0%-0.6%4.4%
2/5/20250.9%-5.1%-19.7%
10/23/20244.2%1.5%9.9%
7/24/2024-7.7%-5.3%-6.6%
4/24/2024-1.0%-9.3%-19.6%
1/31/20242.3%6.5%12.2%
10/25/2023-24.9%-27.8%-13.5%
...
SUMMARY STATS   
# Positive131211
# Negative111213
Median Positive7.5%9.9%11.4%
Median Negative-7.7%-8.3%-13.5%
Max Positive35.0%30.9%31.4%
Max Negative-36.6%-32.8%-30.7%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025806202510-Q 6/30/2025
3312025508202510-Q 3/31/2025
12312024228202510-K 12/31/2024
93020241105202410-Q 9/30/2024
6302024802202410-Q 6/30/2024
3312024503202410-Q 3/31/2024
12312023228202410-K 12/31/2023
93020231103202310-Q 9/30/2023
6302023804202310-Q 6/30/2023
3312023505202310-Q 3/31/2023
12312022227202310-K 12/31/2022
93020221104202210-Q 9/30/2022
6302022804202210-Q 6/30/2022
3312022505202210-Q 3/31/2022
12312021225202210-K 12/31/2021
93020211102202110-Q 9/30/2021

Insider Activity

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Industry Resources

External Quote Links


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