Stock Analysis on Net

Align Technology Inc. (NASDAQ:ALGN)

This company has been moved to the archive! The financial data has not been updated since November 3, 2023.

Analysis of Liquidity Ratios 

Microsoft Excel

Liquidity Ratios (Summary)

Align Technology Inc., liquidity ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Current ratio 1.26 1.30 1.40 1.68 1.88
Quick ratio 0.97 1.08 1.22 1.46 1.70
Cash ratio 0.52 0.61 0.72 0.89 1.06

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Align Technology Inc. current ratio deteriorated from 2020 to 2021 and from 2021 to 2022.
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Align Technology Inc. quick ratio deteriorated from 2020 to 2021 and from 2021 to 2022.
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Align Technology Inc. cash ratio deteriorated from 2020 to 2021 and from 2021 to 2022.

Current Ratio

Align Technology Inc., current ratio calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Current assets 2,424,391 2,494,075 1,849,538 1,633,419 1,302,479
Current liabilities 1,925,887 1,924,071 1,325,601 970,970 692,073
Liquidity Ratio
Current ratio1 1.26 1.30 1.40 1.68 1.88
Benchmarks
Current Ratio, Competitors2
Abbott Laboratories 1.63 1.85 1.72 1.44
Cigna Group 0.73 0.83 0.77 0.74
CVS Health Corp. 0.94 0.88 0.91 0.94
Elevance Health Inc. 1.40 1.47 1.55 1.65
Humana Inc. 1.52 1.62 1.77 1.82
Intuitive Surgical Inc. 4.40 5.08 6.86 4.53
Medtronic PLC 1.86 2.65 2.13 2.59
UnitedHealth Group Inc. 0.77 0.79 0.74 0.69
Current Ratio, Sector
Health Care Equipment & Services 1.05 1.09 1.08 1.07
Current Ratio, Industry
Health Care 1.16 1.21 1.21 1.34

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Current ratio = Current assets ÷ Current liabilities
= 2,424,391 ÷ 1,925,887 = 1.26

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Align Technology Inc. current ratio deteriorated from 2020 to 2021 and from 2021 to 2022.

Quick Ratio

Align Technology Inc., quick ratio calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Cash and cash equivalents 942,050 1,099,370 960,843 550,425 636,899
Marketable securities, short-term 57,534 71,972 318,202 98,460
Accounts receivable, net of allowance for doubtful accounts 859,685 897,198 657,704 550,291 439,009
Total quick assets 1,859,269 2,068,540 1,618,547 1,418,918 1,174,368
 
Current liabilities 1,925,887 1,924,071 1,325,601 970,970 692,073
Liquidity Ratio
Quick ratio1 0.97 1.08 1.22 1.46 1.70
Benchmarks
Quick Ratio, Competitors2
Abbott Laboratories 1.06 1.28 1.14 0.88
Cigna Group 0.58 0.48 0.66 0.41
CVS Health Corp. 0.62 0.55 0.53 0.52
Elevance Health Inc. 1.27 1.33 1.42 1.52
Humana Inc. 1.20 1.20 1.37 1.47
Intuitive Surgical Inc. 3.56 4.34 5.96 3.75
Medtronic PLC 1.30 1.91 1.50 1.90
UnitedHealth Group Inc. 0.70 0.72 0.68 0.63
Quick Ratio, Sector
Health Care Equipment & Services 0.83 0.83 0.85 0.78
Quick Ratio, Industry
Health Care 0.86 0.90 0.90 1.00

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 1,859,269 ÷ 1,925,887 = 0.97

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Align Technology Inc. quick ratio deteriorated from 2020 to 2021 and from 2021 to 2022.

Cash Ratio

Align Technology Inc., cash ratio calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Cash and cash equivalents 942,050 1,099,370 960,843 550,425 636,899
Marketable securities, short-term 57,534 71,972 318,202 98,460
Total cash assets 999,584 1,171,342 960,843 868,627 735,359
 
Current liabilities 1,925,887 1,924,071 1,325,601 970,970 692,073
Liquidity Ratio
Cash ratio1 0.52 0.61 0.72 0.89 1.06
Benchmarks
Cash Ratio, Competitors2
Abbott Laboratories 0.66 0.78 0.60 0.38
Cigna Group 0.17 0.14 0.32 0.14
CVS Health Corp. 0.23 0.18 0.18 0.15
Elevance Health Inc. 0.86 0.95 1.04 1.08
Humana Inc. 1.10 1.08 1.29 1.37
Intuitive Surgical Inc. 2.90 3.66 5.30 3.13
Medtronic PLC 0.85 1.27 1.06 1.16
UnitedHealth Group Inc. 0.36 0.36 0.33 0.28
Cash Ratio, Sector
Health Care Equipment & Services 0.46 0.46 0.50 0.42
Cash Ratio, Industry
Health Care 0.48 0.52 0.53 0.64

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 999,584 ÷ 1,925,887 = 0.52

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Align Technology Inc. cash ratio deteriorated from 2020 to 2021 and from 2021 to 2022.