Align Technology Inc (ALGN) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ALGN SEC filings page.
Align Technology Inc (ALGN) reported $4.1B in revenue over the twelve months to Jun 30, 2026, up 4.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue is nearly flat, but margin compression and weaker cash conversion show a less efficient operating model in FY2025.
Revenue was essentially flat while gross margin fell to67.2% , and operating margin narrowed to13.5% ; sales growth therefore did not translate into better operating economics. The combination suggests cost or mix pressure outweighed any benefit from scale, rather than a simple volume slowdown.
Operating cash flow fell from
Liabilities fell while equity rose, leaving debt-to-equity at 0.5x; the financing structure is less leveraged than in earlier periods. Short-term liquidity also improved to 1.4x current ratio, providing more balance-sheet flexibility even as cash generation weakened.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Align Technology Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Align Technology Inc has an operating margin of 13.5%, meaning the company retains $14 of operating profit per $100 of revenue. This strong profitability earns a score of 77/100, reflecting efficient cost management and pricing power. This is down from 15.2% the prior year.
Align Technology Inc's revenue grew a modest 0.9% year-over-year to $4.0B. This slow but positive growth earns a score of 38/100.
Align Technology Inc has a moderate D/E ratio of 0.54. This balance of debt and equity financing earns a leverage score of 59/100.
Align Technology Inc's current ratio of 1.36 indicates adequate short-term liquidity, earning a score of 36/100. The company can meet its near-term obligations, though with limited headroom.
Align Technology Inc converts 12.2% of revenue into free cash flow ($490.8M). This strong cash generation earns a score of 76/100.
Align Technology Inc earns a strong 10.1% return on equity (ROE), meaning it generates $10 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 78/100. This is down from 10.9% the prior year.
Align Technology Inc scores 4.42, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($10.2B) relative to total liabilities ($2.2B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Align Technology Inc passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Align Technology Inc generates $1.45 in operating cash flow ($593.2M OCF vs $410.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Align Technology Inc generated $1.1B in revenue in Q2 2026. This represents an increase of 4.3% from the same quarter a year earlier. Against the prior quarter it is up 1.5%.
Align Technology Inc's EBITDA was $194.1M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 4.6% from the same quarter a year earlier. Against the prior quarter it is down 2.2%.
Align Technology Inc reported $108.3M in net income in Q2 2026. This represents a decrease of 13.1% from the same quarter a year earlier. Against the prior quarter it is down 4.0%.
Align Technology Inc earned $1.51 per diluted share (EPS) in Q2 2026. This represents a decrease of 12.2% from the same quarter a year earlier. Against the prior quarter it is down 3.8%.
Cash & Balance Sheet
Align Technology Inc generated $157.1M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 46.6% from the same quarter a year earlier. Against the prior quarter it is up 30.6%.
Align Technology Inc held $1.1B in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Align Technology Inc's gross margin was 71.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.
Align Technology Inc's operating margin was 14.6% in Q2 2026, reflecting core business profitability. This is down 1.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.
Align Technology Inc's net profit margin was 10.3% in Q2 2026, showing the share of revenue converted to profit. This is down 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.6 percentage points.
Align Technology Inc's ROE was 2.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.
Capital Allocation
Align Technology Inc invested $102.0M in research and development in Q2 2026. This represents an increase of 5.8% from the same quarter a year earlier. Against the prior quarter it is up 3.4%.
Align Technology Inc spent $66.9M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 30.3% from the same quarter a year earlier. Against the prior quarter it is up 114.6%.
Align Technology Inc invested $35.7M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 66.0% from the same quarter a year earlier. Against the prior quarter it is up 15.9%.
ALGN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B+4.3% | $1.0B+6.2% | $1.0B+5.3% | $995.7M+1.8% | $1.0B-1.6% | $979.3M-1.8% | $995.2M+4.0% | $977.9M+1.8% |
| Cost of Revenue | $298.8M-1.8% | $303.5M+1.5% | $364.0M+22.0% | $356.5M+20.4% | $304.3M-0.5% | $299.2M-0.2% | $298.3M+3.9% | $296.1M-0.4% |
| Gross Profit | $757.4M+7.0% | $736.6M+8.3% | $683.6M-1.9% | $639.2M-6.2% | $708.1M-2.0% | $680.1M-2.5% | $696.9M+4.1% | $681.8M+2.8% |
| R&D Expenses | $102.0M+5.8% | $98.7M+1.5% | $83.0M-12.5% | $93.3M+9.4% | $96.4M+4.6% | $97.2M+5.8% | $94.9M+15.5% | $85.3M-3.9% |
| SG&A Expenses | $462.7M+3.1% | $465.3M+4.0% | $441.7M+3.9% | $417.8M-3.8% | $448.7M-0.8% | $447.6M-0.9% | $425.0M+5.6% | $434.1M+6.4% |
| Operating Income | $154.0M-5.5% | $142.0M+8.3% | $155.3M+7.8% | $96.3M-40.7% | $163.0M+10.9% | $131.1M-14.9% | $144.1M-16.0% | $162.3M-2.4% |
| EBITDA | $194.1M-4.6% | $198.5M+16.6% | $257.3M+41.2% | $152.0M-24.0% | $203.6M+11.1% | $170.2M-9.0% | $182.3M-11.2% | $200.1M-1.6% |
| Income Tax | $40.4M-17.4% | $36.1M-23.5% | $40.8M+10.5% | $38.0M-24.0% | $48.9M+3.4% | $47.2M-11.5% | $37.0M-24.3% | $50.0M+22.8% |
| Net Income | $108.3M-13.1% | $112.8M+21.0% | $135.4M+30.9% | $56.8M-51.1% | $124.6M+29.0% | $93.2M-11.2% | $103.4M-16.6% | $116.0M-4.5% |
| EPS (Basic) | $1.51-12.2% | $1.58+24.4% | $1.89+35.0% | $0.78-49.7% | $1.72+34.4% | $1.27-9.3% | $1.40-14.1% | $1.55-2.5% |
| EPS (Diluted) | $1.51-12.2% | $1.57+23.6% | $1.88+35.3% | $0.78-49.7% | $1.72+34.4% | $1.27-8.6% | $1.39-14.7% | $1.55-1.9% |
| Diluted Shares (Avg) | 72M-1.5% | 72M-2.7% | N/A | 72M-3.1% | 73M-3.5% | 74M-2.3% | N/A | 75M-2.7% |
Not reported in any period shown, so not listed: Interest Expense.
ALGN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.4B+3.2% | $6.3B+3.5% | $6.2B+0.3% | $6.2B-2.1% | $6.2B+1.0% | $6.1B-0.9% | $6.2B+2.1% | $6.4B+0.8% |
| Current Assets | $2.7B+8.8% | $2.7B+10.5% | $2.6B+5.0% | $2.5B-2.4% | $2.4B+1.5% | $2.4B-3.1% | $2.5B+1.9% | $2.6B-3.9% |
| Cash & Equivalents | $1.1B+22.4% | $1.1B+21.4% | $1.1B+4.9% | $1.0B-3.6% | $901.2M+18.4% | $873.0M+0.8% | $1.0B+11.4% | $1.0B-15.9% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0-100.0% | $0-100.0% | $0-100.0% | $0-100.0% |
| Inventory | $212.2M-12.9% | $214.9M-12.8% | $226.3M-11.0% | $228.2M-10.2% | $243.8M-6.1% | $246.6M-12.0% | $254.3M-14.4% | $254.1M-14.2% |
| Accounts Receivable | $1.1B+2.9% | $1.1B+5.9% | $1.1B+10.7% | $1.1B+8.8% | $1.1B+9.4% | $1.1B+11.7% | $995.7M+10.2% | $1.0B+11.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $0-100.0% | $0-100.0% |
| Goodwill | $497.3M+1.3% | $503.0M+9.9% | $491.8M+11.1% | $491.5M+4.2% | $491.1M+8.0% | $457.6M-0.1% | $442.6M+5.5% | $471.5M+16.6% |
| Total Liabilities | $2.2B-5.3% | $2.2B-6.2% | $2.2B-7.5% | $2.3B-6.0% | $2.3B-3.9% | $2.3B-3.6% | $2.4B-3.7% | $2.4B-3.8% |
| Current Liabilities | $1.9B-4.4% | $1.9B-4.3% | $1.9B-5.8% | $2.0B-4.7% | $2.0B-2.2% | $2.0B-1.6% | $2.0B-1.4% | $2.1B-2.8% |
| Non-Current Liabilities | $276.5M-11.0% | $258.9M-18.5% | $264.5M-18.5% | $309.6M-13.5% | $310.8M-13.7% | $317.6M-14.8% | $324.6M-16.1% | $358.0M-9.1% |
| Total Equity | $4.2B+8.2% | $4.1B+9.4% | $4.0B+5.1% | $4.0B+0.3% | $3.9B+4.1% | $3.8B+0.9% | $3.9B+6.1% | $3.9B+3.7% |
| Retained Earnings | $2.6B+7.0% | $2.5B+6.7% | $2.5B-0.8% | $2.4B-6.0% | $2.4B-1.3% | $2.4B-4.5% | $2.5B+1.5% | $2.6B-1.3% |
Not reported in any period shown, so not listed: Long-Term Debt.
ALGN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $192.8M+49.8% | $151.0M+186.7% | $223.2M-22.0% | $188.7M-28.4% | $128.7M-19.5% | $52.7M+83.8% | $286.1M+510.0% | $263.7M-8.2% |
| Depreciation & Amortization | $40.1M-1.1% | $56.5M+44.4% | $102.0M+167.5% | $55.7M+47.4% | $40.6M+12.2% | $39.1M+18.8% | $38.1M+13.0% | $37.8M+2.1% |
| Stock-Based Compensation | $45.6M-5.5% | $40.9M-9.1% | N/A | $48.4M-1.3% | $48.2M+2.5% | $45.0M+16.0% | N/A | $49.0M+23.8% |
| Capital Expenditures | $35.7M+66.0% | $30.8M+21.7% | $35.9M+56.4% | $19.8M-33.7% | $21.5M-59.8% | $25.3M+169.9% | $23.0M-31.3% | $29.8M+37.7% |
| Free Cash Flow | $157.1M+46.6% | $120.3M+339.1% | $187.3M-28.8% | $169.0M-27.8% | $107.2M+0.7% | $27.4M+41.9% | $263.1M+1851.3% | $233.9M-11.9% |
| Investing Cash Flow | -$82.2M-161.0% | -$131.6M-420.3% | -$35.9M+33.4% | -$19.8M-121.6% | -$31.5M+72.0% | -$25.3M+68.2% | -$53.9M-304.7% | -$8.9M-107.2% |
| Financing Cash Flow | -$67.4M+30.0% | -$48.1M+76.7% | -$97.4M+52.0% | -$64.1M-706.5% | -$96.3M+36.5% | -$206.8M-1664.7% | -$203.0M+42.0% | $10.6M-10.7% |
| Share Buybacks | $66.9M-30.3% | $31.2M-84.5% | $97.2M-52.1% | $71.6M | $96.0M-36.0% | $201.1M | $202.9M-32.4% | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
ALGN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 71.7%+1.8pp | 70.8%+1.4pp | 65.3%-4.8pp | 64.2%-5.5pp | 69.9%-0.3pp | 69.5%-0.5pp | 70.0%+0.1pp | 69.7%+0.7pp |
| Operating Margin | 14.6%-1.5pp | 13.7%+0.3pp | 14.8%+0.3pp | 9.7%-6.9pp | 16.1%+1.8pp | 13.4%-2.1pp | 14.5%-3.4pp | 16.6%-0.7pp |
| Net Margin | 10.3%-2.1pp | 10.8%+1.3pp | 12.9%+2.5pp | 5.7%-6.2pp | 12.3%+2.9pp | 9.5%-1.0pp | 10.4%-2.6pp | 11.9%-0.8pp |
| Return on Equity | 2.6%-0.6pp | 2.7%+0.3pp | 3.3%+0.6pp | 1.4%-1.5pp | 3.2%+0.6pp | 2.5%-0.3pp | 2.7%-0.7pp | 2.9%-0.2pp |
| Return on Assets | 1.7%-0.3pp | 1.8%+0.3pp | 2.2%+0.5pp | 0.9%-0.9pp | 2.0%+0.4pp | 1.5%-0.2pp | 1.7%-0.4pp | 1.8%-0.1pp |
| Current Ratio | 1.40+0.2x | 1.39+0.2x | 1.36+0.1x | 1.290.0x | 1.230.0x | 1.210.0x | 1.220.0x | 1.260.0x |
| Debt-to-Equity | 0.52-0.1x | 0.52-0.1x | 0.54-0.1x | 0.580.0x | 0.590.0x | 0.610.0x | 0.61-0.1x | 0.610.0x |
| Asset Turnover | 0.160.0x | 0.160.0x | 0.170.0x | 0.160.0x | 0.160.0x | 0.160.0x | 0.160.0x | 0.150.0x |
| FCF Margin | 14.9%+4.3pp | 11.6%+8.8pp | 17.9%-8.6pp | 17.0%-7.0pp | 10.6%+0.2pp | 2.8%+0.9pp | 26.4%+25.0pp | 23.9%-3.7pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Align Technology Inc ALGN | FY2025 | $4.0B | $410.0M | 10.2% | $10.2B | 61/100 |
| AptarGroup, Inc. ATR | FY2025 | $3.8B | $392.8M | 10.4% | $7.6B | 60/100 |
| Avantor, Inc. AVTR | FY2025 | $6.6B | -$530.2M | -8.1% | $10.5B | 37/100 |
| Repligen Corp RGEN | FY2025 | $738.3M | $48.9M | 6.6% | $11.1B | 68/100 |
| Teleflex Incorporated TFX | FY2025 | $2.0B | -$905.6M | -45.5% | $5.3B | 48/100 |
Where Align Technology Inc Ranks
Frequently Asked Questions
What is Align Technology Inc's annual revenue?
Align Technology Inc (ALGN) reported $4.0B in total revenue for fiscal year 2025. This represents a 0.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Align Technology Inc's revenue growing?
Align Technology Inc (ALGN) revenue grew by 0.9% year-over-year, from $4.0B to $4.0B in fiscal year 2025.
Is Align Technology Inc profitable?
Yes, Align Technology Inc (ALGN) reported a net income of $410.0M in fiscal year 2025, with a net profit margin of 10.2%.
What is Align Technology Inc's EBITDA?
Align Technology Inc (ALGN) had EBITDA of $783.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Align Technology Inc's gross margin?
Align Technology Inc (ALGN) had a gross margin of 67.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Align Technology Inc's operating margin?
Align Technology Inc (ALGN) had an operating margin of 13.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Align Technology Inc's net profit margin?
Align Technology Inc (ALGN) had a net profit margin of 10.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Align Technology Inc's return on equity (ROE)?
Align Technology Inc (ALGN) has a return on equity of 10.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Align Technology Inc's free cash flow?
Align Technology Inc (ALGN) generated $490.8M in free cash flow during fiscal year 2025. This represents a -21.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Align Technology Inc's operating cash flow?
Align Technology Inc (ALGN) generated $593.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Align Technology Inc's total assets?
Align Technology Inc (ALGN) had $6.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Align Technology Inc's capital expenditures?
Align Technology Inc (ALGN) invested $102.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Align Technology Inc spend on research and development?
Align Technology Inc (ALGN) invested $369.9M in research and development during fiscal year 2025.
What is Align Technology Inc's current ratio?
Align Technology Inc (ALGN) had a current ratio of 1.36 as of fiscal year 2025, which is considered adequate.
What is Align Technology Inc's debt-to-equity ratio?
Align Technology Inc (ALGN) had a debt-to-equity ratio of 0.54 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Align Technology Inc's return on assets (ROA)?
Align Technology Inc (ALGN) had a return on assets of 6.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Align Technology Inc's P/E ratio?
Align Technology Inc (ALGN) trades at 24.7x earnings, its market capitalization divided by net income of $413.2M net income, trailing 12 months to June 30, 2026. The market capitalization is $10.2B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Align Technology Inc's price-to-sales ratio?
Align Technology Inc (ALGN) trades at 2.5x sales, its market capitalization divided by revenue of $4.1B revenue, trailing 12 months to June 30, 2026. The market capitalization is $10.2B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Align Technology Inc's Altman Z-Score?
Align Technology Inc (ALGN) has an Altman Z-Score of 4.42, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Align Technology Inc's Piotroski F-Score?
Align Technology Inc (ALGN) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Align Technology Inc's earnings high quality?
Align Technology Inc (ALGN) has an earnings quality ratio of 1.45x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Align Technology Inc?
Align Technology Inc (ALGN) scores 61 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.