Income Statement Align Technology, Inc.

Equities

ALGN

US0162551016

Medical Equipment, Supplies & Distribution

Market Closed - Nasdaq Other stock markets 01:30:00 14/09/2024 am IST			5-day change	1st Jan Change
243.73 ^USD	+6.50%		+10.21%	-11.05%

10/09	Transcript : Align Technology, Inc. Presents at Baird's 2024 Global Healthcare Conference, Sep-10-2024 09:05 AM
04/09	Align Technology Announces New Regional Leadership Roles	CI

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Published financial data: ALIGN TECHNOLOGY, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2.41B	2.47B	3.95B	3.73B	3.86B
Total Revenues	2.41B	2.47B	3.95B	3.73B	3.86B
Cost of Goods Sold, Total	663M	709M	1.02B	1.1B	1.14B
Gross Profit	1.74B	1.76B	2.94B	2.64B	2.72B
Selling General & Admin Expenses, Total	1.07B	1.2B	1.71B	1.67B	1.7B
R&D Expenses	157M	175M	250M	305M	347M
Other Operating Expenses	-	-	-	53K	13.32M
Other Operating Expenses, Total	1.23B	1.38B	1.96B	1.98B	2.06B
Operating Income	514M	387M	976M	657M	657M
Interest And Investment Income	12.48M	3.12M	3.1M	5.37M	17.26M
Net Interest Expenses	12.48M	3.12M	3.1M	5.37M	17.26M
Income (Loss) On Equity Invest.	-7.53M	-	-	-	-
Currency Exchange Gains (Loss)	-2M	6.8M	-13.3M	-43.8M	-7M
Other Non Operating Income (Expenses)	-2.09M	-2.06M	2.82M	-5.1M	-12.39M
EBT, Excl. Unusual Items	515M	395M	969M	613M	655M
Restructuring Charges	-	-	-	-10.2M	-13.3M
Merger & Related Restructuring Charges	-	-10.2M	-	-	-
Gain (Loss) On Sale Of Investments	11.77M	-5.89M	-	-	-
Asset Writedown	-	-	-	-1.8M	-
Legal Settlements	28.01M	-	43.4M	-	-
Other Unusual Items	-	-	-	-2.3M	-
EBT, Incl. Unusual Items	555M	379M	1.01B	599M	641M
Income Tax Expense	112M	-1.4B	240M	237M	196M
Earnings From Continuing Operations	443M	1.78B	772M	362M	445M
Net Income to Company	443M	1.78B	772M	362M	445M
Net Income - (IS)	443M	1.78B	772M	362M	445M
Net Income to Common Incl Extra Items	443M	1.78B	772M	362M	445M
Net Income to Common Excl. Extra Items	443M	1.78B	772M	362M	445M
Per Share Items
Net EPS - Basic	5.57	22.55	9.78	4.62	5.82
Basic EPS - Continuing Operations	5.57	22.55	9.78	4.62	5.82
Basic Weighted Average Shares Outstanding	79.42M	78.76M	78.92M	78.19M	76.43M
Net EPS - Diluted	5.53	22.41	9.69	4.61	5.81
Diluted EPS - Continuing Operations	5.53	22.41	9.69	4.61	5.81
Diluted Weighted Average Shares Outstanding	80.1M	79.23M	79.67M	78.42M	76.57M
Normalized Basic EPS	4.06	3.13	7.67	4.9	5.35
Normalized Diluted EPS	4.02	3.12	7.6	4.89	5.34
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	599M	481M	1.09B	783M	799M
EBITA	520M	401M	993M	673M	673M
EBIT	514M	387M	976M	657M	657M
EBITDAR	624M	510M	1.13B	843M	860M
Effective Tax Rate - (Ratio)	20.24	-368.64	23.75	39.64	30.59
Current Domestic Taxes	85.7M	64.15M	186M	223M	163M
Current Foreign Taxes	28.36M	29.4M	42.68M	56.54M	51.31M
Total Current Taxes	114M	93.55M	228M	279M	214M
Deferred Domestic Taxes	1.44M	-13.87M	-31.46M	-67.84M	-19.96M
Deferred Foreign Taxes	-3.16M	-1.48B	43.43M	26.12M	1.94M
Total Deferred Taxes	-1.71M	-1.49B	11.97M	-41.72M	-18.02M
Normalized Net Income	322M	247M	606M	383M	409M
Supplemental Operating Expense Items
Advertising Expense	119M	161M	326M	-	-
Selling and Marketing Expenses	119M	161M	326M	-	-
General and Administrative Expenses	-	-	-	-	-
Research And Development Expense From Footnotes	157M	175M	250M	305M	347M
Net Rental Expense, Total	24.68M	29.25M	44.38M	60M	60.63M
Stock-Based Comp., COGS (Total)	5.15M	4.72M	5.63M	6.44M	7.46M
Stock-Based Comp., R&D Exp. (Total)	13.21M	15.21M	18.04M	23.8M	30.57M
Stock-Based Comp., S&M Exp. (Total)	-	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	69.82M	78.5M	90.66M	103M	116M
Total Stock-Based Compensation	88.18M	98.43M	114M	133M	154M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	550M	961M	1.1B	942M	937M
Short Term Investments	318M	-	71.97M	57.53M	35.3M
Total Cash And Short Term Investments	869M	961M	1.17B	1B	973M
Accounts Receivable, Total	550M	658M	897M	860M	903M
Other Receivables	45.68M	45.24M	-	140M	144M
Notes Receivable	25M	5.41M	-	-	-
Total Receivables	621M	708M	897M	1B	1.05B
Inventory	112M	139M	230M	339M	297M
Prepaid Expenses	24.64M	14.05M	70.22M	69.12M	52.49M
Deferred Tax Assets Current	-	-	-	-	-
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	7.13M	27.06M	125M	16.76M	77.34M
Total Current Assets	1.63B	1.85B	2.49B	2.42B	2.45B
Gross Property Plant And Equipment	917M	1.12B	1.56B	1.8B	1.96B
Accumulated Depreciation	-230M	-301M	-359M	-450M	-551M
Net Property Plant And Equipment	688M	817M	1.2B	1.35B	1.41B
Long-term Investments	5.89M	-	134M	41.98M	8.02M
Goodwill	63.92M	445M	419M	408M	420M
Other Intangibles, Total	11.77M	130M	110M	95.72M	82.12M
Loans Receivable Long-Term	7.33M	-	-	-	-
Deferred Tax Assets Long-Term	64.01M	1.55B	1.53B	1.57B	1.59B
Deferred Charges Long-Term	-	22.8M	31.1M	27.4M	25.1M
Other Long-Term Assets, Total	26.4M	12.35M	17.79M	28.43M	104M
Total Assets	2.5B	4.83B	5.94B	5.95B	6.08B
Liabilities
Accounts Payable, Total	87.25M	142M	164M	128M	113M
Accrued Expenses, Total	290M	313M	488M	316M	434M
Current Portion of Leases	15.74M	21.74M	22.72M	26.57M	29.65M
Current Income Taxes Payable	14.13M	30.13M	33.84M	74.32M	38.1M
Unearned Revenue Current, Total	564M	778M	1.15B	1.34B	1.43B
Other Current Liabilities	-	40.31M	62.73M	37.8M	23.62M
Total Current Liabilities	971M	1.33B	1.92B	1.93B	2.07B
Long-Term Leases	43.46M	64.44M	103M	100M	96.97M
Unearned Revenue Non Current	35.5M	62.55M	137M	161M	138M
Other Non Current Liabilities	105M	143M	156M	160M	152M
Total Liabilities	1.15B	1.6B	2.32B	2.35B	2.45B
Common Stock, Total	8K	8K	8K	8K	7K
Additional Paid In Capital	907M	975M	999M	1.04B	1.16B
Retained Earnings	440M	2.22B	2.62B	2.57B	2.45B
Comprehensive Income and Other	-688K	43.5M	4.33M	-10.28M	21.17M
Total Common Equity	1.35B	3.23B	3.62B	3.6B	3.63B
Total Equity	1.35B	3.23B	3.62B	3.6B	3.63B
Total Liabilities And Equity	2.5B	4.83B	5.94B	5.95B	6.08B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	78.75M	79.13M	78.8M	76.61M	75.1M
ECS Total Common Shares Outstanding	78.43M	78.86M	78.71M	77.27M	75.08M
Book Value / Share	17.16	41.01	46.03	46.61	48.36
Tangible Book Value	1.27B	2.66B	3.09B	3.1B	3.13B
Tangible Book Value Per Share	16.2	33.72	39.31	40.1	41.68
Total Debt	59.2M	86.18M	125M	127M	127M
Net Debt	-809M	-875M	-1.17B	-915M	-854M
Debt Equivalent Oper. Leases	197M	234M	355M	480M	485M
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	3	3	5	5	5
Inventories - Raw Materials, Total	54.95M	76.4M	123M	173M	145M
Inventories - Work In Process, Total	30.97M	31.39M	51.71M	96.56M	91.26M
Inventories - Finished Goods, Total	26.13M	31.44M	55.29M	69.44M	60.15M
Land - (BS)	26.42M	34.6M	58.87M	58.88M	63.88M
Buildings, Total	210M	244M	310M	466M	518M
Machinery, Total	393M	468M	525M	687M	827M
Full Time Employees	14.53K	18.07K	22.54K	23.16K	21.61K
Accumulated Allowance for Doubtful Accounts (Supple)	6.76M	10.24M	9.24M	10.34M	14.89M
Order Backlog	-	873M	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	443M	1.78B	772M	362M	445M
Depreciation & Amortization - CF	78.99M	80.14M	92.13M	110M	126M
Amortization of Goodwill and Intangible Assets - (CF)	5.9M	13.4M	16.6M	16M	16.4M
Depreciation & Amortization, Total	84.89M	93.54M	109M	126M	142M
(Gain) Loss on Sale of Investments - (CF)	-15.77M	5.89M	-	-	4.99M
Asset Writedown & Restructuring Costs	28.5M	-	-	-	-
(Income) Loss On Equity Investments - (CF)	7.53M	-	-	-	-
Stock-Based Compensation (CF)	88.18M	98.43M	114M	133M	154M
Tax Benefit from Stock Options	-	-	-	-	-
Provision and Write-off of Bad Debts	-	12.07M	2.81M	-	-
Other Operating Activities, Total	35.95M	-1.45B	20.41M	32.31M	47.2M
Change In Accounts Receivable	-121M	-140M	-262M	21.55M	-105M
Change In Inventories	-58.27M	-29.11M	-112M	-130M	30.17M
Change In Accounts Payable	22.1M	52.21M	19.75M	-36.52M	-7.7M
Change in Unearned Revenues	189M	228M	463M	242M	86.71M
Change In Income Taxes	14.61M	-2.8M	12.45M	6.33M	-7.77M
Change in Other Net Operating Assets	28.71M	21.04M	33.92M	-187M	-4.69M
Cash from Operations	747M	662M	1.17B	569M	786M
Capital Expenditure	-150M	-155M	-401M	-292M	-178M
Cash Acquisitions	-	-421M	-8M	-12.3M	-
Investment in Marketable and Equity Securities, Total	-208M	316M	-197M	93.1M	-18.5M
Other Investing Activities, Total	7.12M	28.08M	42.99M	-2.21M	278K
Cash from Investing	-350M	-232M	-563M	-213M	-196M
Long-Term Debt Repaid, Total	-45.77M	-	-	-	-
Total Debt Repaid	-45.77M	-	-	-	-
Issuance of Common Stock	17.91M	20.31M	25.62M	26.15M	26.6M
Repurchase of Common Stock	-458M	-51.12M	-484M	-488M	-615M
Other Financing Activities, Total	-	-	-	-40M	-10M
Cash from Financing	-486M	-30.81M	-458M	-502M	-598M
Foreign Exchange Rate Adjustments	2.28M	10.48M	-12.12M	-11.51M	4.67M
Net Change in Cash	-86.43M	410M	139M	-158M	-3.84M
Supplemental Items
Cash Income Tax Paid (Refund)	71.75M	76.33M	203M	232M	295M
Levered Free Cash Flow	410M	504M	596M	274M	618M
Unlevered Free Cash Flow	410M	504M	596M	274M	618M
Change In Net Working Capital	-65.49M	-225M	-163M	104M	-88.58M
Net Debt Issued / Repaid	-45.77M	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	14.12	6.6	11.33	6.91	6.82
Return on Total Capital	24.19	10.24	17.27	10.98	10.97
Return On Equity %	34.07	77.55	22.52	10.01	12.31
Return on Common Equity	34.07	77.55	22.52	10.01	12.31
Margin Analysis
Gross Profit Margin %	72.46	71.33	74.26	70.6	70.43
SG&A Margin	44.54	48.58	43.23	44.84	44.1
EBITDA Margin %	24.9	19.45	27.45	20.96	20.69
EBITA Margin %	21.62	16.2	25.12	18.02	17.43
EBIT Margin %	21.38	15.66	24.7	17.59	17
Income From Continuing Operations Margin %	18.4	71.84	19.53	9.68	11.52
Net Income Margin %	18.4	71.84	19.53	9.68	11.52
Net Avail. For Common Margin %	18.4	71.84	19.53	9.68	11.52
Normalized Net Income Margin	13.38	9.99	15.32	10.26	10.59
Levered Free Cash Flow Margin	17.05	20.38	15.07	7.33	15.99
Unlevered Free Cash Flow Margin	17.05	20.38	15.07	7.33	15.99
Asset Turnover
Asset Turnover	1.06	0.67	0.73	0.63	0.64
Fixed Assets Turnover	3.98	3.28	3.91	2.92	2.8
Receivables Turnover (Average Receivables)	4.87	4.09	5.08	4.25	4.38
Inventory Turnover (Average Inventory)	7.91	5.64	5.51	3.86	3.59
Short Term Liquidity
Current Ratio	1.68	1.4	1.3	1.26	1.18
Quick Ratio	1.51	1.26	1.08	1.04	0.98
Operating Cash Flow to Current Liabilities	0.77	0.5	0.61	0.3	0.38
Days Sales Outstanding (Average Receivables)	75.02	89.43	71.79	85.85	83.31
Days Outstanding Inventory (Average Inventory)	46.17	64.89	66.29	94.57