# Align Technology Inc (ALGN) — Stock CV

Align Technology Inc is a $9.95B healthcare company. Revenue grew 4.4% over the last year, and it keeps 10¢ of every dollar of sales as profit. It trades at 24.5× earnings — near the lowest of its own history.

> Align Technology is the leading manufacturer of clear aligners. Invisalign, its main product, was approved by the Food and Drug Administration in 1998 and has since dominated, controlling over 90% of the market.

## Identity

- **Ticker**: ALGN
- **Sector**: Healthcare
- **Industry**: Orthopedic, Prosthetic & Surgical Appliances & Supplies
- **Headquarters**: TEMPE, AZ
- **Employees**: 20 435
- **Website**: https://www.aligntech.com
- **Market cap**: $9.95B
- **Last price**: $140.02
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $4.14B
- **Net income**: $414M
- **Free cash flow**: $634M
- **P/E**: 24.5
- **Revenue growth (YoY)**: 4.4%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 85 |
| Growth | 31 |
| Profitability | 49 |
| Health | 62 |
| Quality | 92 |
| Moat | 93 |

## Qualifications (beginner checklist) — 10 of 10 passed

- [x] Revenue growing — +4.4% YoY
- [x] Profitable — $414M TTM
- [x] Profit growing — +7.0% YoY
- [x] Generates cash — $634M TTM
- [x] Debt under control — current ratio 1.40
- [x] Established company — $9.95B market cap
- [x] Not printing shares — -8.4% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [x] Financially stable — Altman Z 3.9 — safe
- [x] Valuation not extreme — P/E 24.5

## Experience (career milestones)

- **2023** — It was announced Align Technology had acquired the Vienna-headquartered 3D printing technology…
- **FY2020** — Best year on record: $1.78B net income
- **2020** — Align Technology announced that it has signed a definitive agreement to acquire exocad Global…
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $1.08B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2016** — The company's sales reached $1 billion for the first time in 2016 and its products were being used in about 8% of…
- **2011** — Align acquired the Israeli company Cadent for $190 million
- **Jan 26, 2001** — Align Technology went public on January 26, 2001, on the Nasdaq Stock Market
- **1998** — Align received FDA clearance to market the Invisalign system in 1998
- **1997** — Align Technology was founded in 1997 by Zia Chishti and Kelsey Wirth, classmates at Stanford Graduate School of Business

## Strengths

- High gross margin (69.0%)
- Strong cash conversion — FCF is 15.3% of revenue
- Interest covered 38.9× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist
- Altman Z-Score 3.94 — low bankruptcy-risk zone

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $3.95B | $772M | $771M |
| FY2022 | $3.73B | $362M | $277M |
| FY2023 | $3.86B | $445M | $608M |
| FY2024 | $4.00B | $421M | $623M |
| FY2025 | $4.03B | $410M | $491M |

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Source: https://stockcv.com/ALGN — derived from company filings; may be delayed or incomplete. Information, not investment advice.