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 Long-term (Investment) Activity Ratios 
Quarterly Data

Microsoft Excel

Long-term Activity Ratios (Summary)

Align Technology Inc., long-term (investment) activity ratios (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Net fixed asset turnover 3.00 2.92 2.93 3.03 3.22 3.37 3.53 3.65 3.75 3.62 3.69 3.36 3.25 3.23 3.63 3.81 3.78 3.65 3.61 3.77
Net fixed asset turnover (including operating lease, right-of-use asset) 2.74 2.66 2.68 2.76 2.94 3.07 3.18 3.29 3.43 3.30 3.33 3.02 2.91 2.93 3.28 3.50 3.47 3.33 3.29 3.77
Total asset turnover 0.60 0.61 0.63 0.63 0.65 0.69 0.68 0.67 0.66 0.64 0.56 0.51 0.52 0.54 0.61 0.96 0.97 0.93 0.93 0.96
Equity turnover 1.00 1.03 1.06 1.04 1.05 1.11 1.10 1.09 1.07 1.03 0.83 0.76 0.75 0.76 0.84 1.79 1.75 1.59 1.66 1.57

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Align Technology Inc. net fixed asset turnover ratio deteriorated from Q1 2023 to Q2 2023 but then improved from Q2 2023 to Q3 2023 exceeding Q1 2023 level.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Align Technology Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from Q1 2023 to Q2 2023 but then improved from Q2 2023 to Q3 2023 exceeding Q1 2023 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Align Technology Inc. total asset turnover ratio deteriorated from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Align Technology Inc. equity turnover ratio deteriorated from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.

Net Fixed Asset Turnover

Align Technology Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Net revenues 960,214 1,002,173 943,147 901,515 890,348 969,553 973,219 1,031,099 1,015,906 1,010,808 894,771 834,520 734,144 352,314 550,963 649,787 607,341 600,697 548,971 534,020 505,289 490,259 436,924
Property, plant and equipment, net 1,268,388 1,279,042 1,262,815 1,231,855 1,199,880 1,182,444 1,140,922 1,081,926 1,002,769 960,852 763,870 734,721 703,657 668,951 663,491 631,730 606,581 599,611 575,267 521,329 491,630 447,933 400,528
Long-term Activity Ratio
Net fixed asset turnover1 3.00 2.92 2.93 3.03 3.22 3.37 3.53 3.65 3.75 3.62 3.69 3.36 3.25 3.23 3.63 3.81 3.78 3.65 3.61 3.77
Benchmarks
Net Fixed Asset Turnover, Competitors2
Abbott Laboratories 4.18 4.26 4.47 4.76 5.18 5.17 5.00 4.81 4.79 4.56 4.23 3.83 3.74 3.77 4.06 3.97
Cigna Group 48.12 47.67 47.44 47.53 47.84 48.61 47.95 46.73 41.42 40.56 39.29 37.85 37.05 36.02 35.37 34.45
CVS Health Corp. 26.62 26.00 25.63 24.98 24.90 24.05 23.26 22.56 22.24 21.90 21.42 21.25 21.48 21.52 21.49 21.24
Elevance Health Inc. 39.41 36.19 36.14 36.07 36.22 36.17 35.81 34.94 34.54 34.17 34.94 34.69 34.61 32.74 32.30 32.92
Humana Inc. 30.35 29.59 29.40 28.71 28.37 28.64 27.05 26.97 27.83 29.47 31.04 32.05 32.90 33.07 33.20 32.93
Intuitive Surgical Inc. 2.23 2.35 2.49 2.62 2.73 2.83 3.00 3.04 3.16 3.13 2.86 2.76 2.85 3.00 3.36 3.52
Medtronic PLC 5.66 5.82 5.88 5.85 6.05 6.13 6.12 5.77 5.56 5.64 5.72 5.99 6.52 6.50 6.51 6.54
UnitedHealth Group Inc. 32.18 31.60 31.35 31.81 33.07 32.33 32.16 31.81 31.77 30.94 30.76 29.64 30.80 30.30 29.91 27.60

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q3 2023 Calculation
Net fixed asset turnover = (Net revenuesQ3 2023 + Net revenuesQ2 2023 + Net revenuesQ1 2023 + Net revenuesQ4 2022) ÷ Property, plant and equipment, net
= (960,214 + 1,002,173 + 943,147 + 901,515) ÷ 1,268,388 = 3.00

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Align Technology Inc. net fixed asset turnover ratio deteriorated from Q1 2023 to Q2 2023 but then improved from Q2 2023 to Q3 2023 exceeding Q1 2023 level.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Align Technology Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Net revenues 960,214 1,002,173 943,147 901,515 890,348 969,553 973,219 1,031,099 1,015,906 1,010,808 894,771 834,520 734,144 352,314 550,963 649,787 607,341 600,697 548,971 534,020 505,289 490,259 436,924
 
Property, plant and equipment, net 1,268,388 1,279,042 1,262,815 1,231,855 1,199,880 1,182,444 1,140,922 1,081,926 1,002,769 960,852 763,870 734,721 703,657 668,951 663,491 631,730 606,581 599,611 575,267 521,329 491,630 447,933 400,528
Operating lease right-of-use assets, net 118,966 125,881 117,889 118,880 116,031 117,912 125,252 121,257 92,727 93,425 82,435 82,553 83,386 68,578 70,366 56,244 53,923 57,269 56,384
Property, plant and equipment, net (including operating lease, right-of-use asset) 1,387,354 1,404,923 1,380,704 1,350,735 1,315,911 1,300,356 1,266,174 1,203,183 1,095,496 1,054,277 846,305 817,274 787,043 737,529 733,857 687,974 660,504 656,880 631,651 521,329 491,630 447,933 400,528
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 2.74 2.66 2.68 2.76 2.94 3.07 3.18 3.29 3.43 3.30 3.33 3.02 2.91 2.93 3.28 3.50 3.47 3.33 3.29 3.77
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
CVS Health Corp. 11.33 11.01 10.81 10.46 10.17 9.80 9.44 9.09 8.55 8.37 8.15 8.04 8.08 8.02 7.95 7.77

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q3 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (Net revenuesQ3 2023 + Net revenuesQ2 2023 + Net revenuesQ1 2023 + Net revenuesQ4 2022) ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= (960,214 + 1,002,173 + 943,147 + 901,515) ÷ 1,387,354 = 2.74

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Align Technology Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from Q1 2023 to Q2 2023 but then improved from Q2 2023 to Q3 2023 exceeding Q1 2023 level.

Total Asset Turnover

Align Technology Inc., total asset turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Net revenues 960,214 1,002,173 943,147 901,515 890,348 969,553 973,219 1,031,099 1,015,906 1,010,808 894,771 834,520 734,144 352,314 550,963 649,787 607,341 600,697 548,971 534,020 505,289 490,259 436,924
Total assets 6,318,551 6,144,550 5,901,448 5,947,947 5,912,802 5,810,119 5,943,414 5,942,110 5,650,109 5,395,568 5,069,782 4,829,683 4,415,091 4,025,857 3,964,840 2,500,702 2,350,380 2,346,017 2,234,430 2,052,458 1,928,405 1,916,589 1,782,731
Long-term Activity Ratio
Total asset turnover1 0.60 0.61 0.63 0.63 0.65 0.69 0.68 0.67 0.66 0.64 0.56 0.51 0.52 0.54 0.61 0.96 0.97 0.93 0.93 0.96
Benchmarks
Total Asset Turnover, Competitors2
Abbott Laboratories 0.55 0.55 0.56 0.59 0.62 0.61 0.60 0.57 0.57 0.55 0.51 0.48 0.47 0.46 0.48 0.47
Cigna Group 1.26 1.23 1.23 1.25 1.24 1.17 1.15 1.11 1.09 1.07 1.06 1.02 0.97 0.96 0.99 0.98
CVS Health Corp. 1.38 1.35 1.38 1.41 1.36 1.33 1.28 1.25 1.21 1.20 1.18 1.16 1.14 1.12 1.13 1.15
Elevance Health Inc. 1.52 1.51 1.46 1.51 1.48 1.47 1.42 1.41 1.35 1.33 1.29 1.39 1.34 1.28 1.31 1.33
Humana Inc. 1.81 1.73 1.74 2.15 1.80 1.91 1.86 1.87 1.78 2.08 2.08 2.17 1.90 1.82 1.94 2.21
Intuitive Surgical Inc. 0.47 0.48 0.49 0.48 0.46 0.44 0.43 0.42 0.42 0.42 0.39 0.39 0.41 0.43 0.47 0.46
Medtronic PLC 0.33 0.33 0.35 0.35 0.35 0.35 0.34 0.32 0.29 0.29 0.30 0.32 0.33 0.34 0.34 0.34
UnitedHealth Group Inc. 1.26 1.23 1.18 1.31 1.29 1.32 1.33 1.34 1.30 1.29 1.27 1.30 1.31 1.28 1.29 1.38

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q3 2023 Calculation
Total asset turnover = (Net revenuesQ3 2023 + Net revenuesQ2 2023 + Net revenuesQ1 2023 + Net revenuesQ4 2022) ÷ Total assets
= (960,214 + 1,002,173 + 943,147 + 901,515) ÷ 6,318,551 = 0.60

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Align Technology Inc. total asset turnover ratio deteriorated from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.

Equity Turnover

Align Technology Inc., equity turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Net revenues 960,214 1,002,173 943,147 901,515 890,348 969,553 973,219 1,031,099 1,015,906 1,010,808 894,771 834,520 734,144 352,314 550,963 649,787 607,341 600,697 548,971 534,020 505,289 490,259 436,924
Stockholders’ equity 3,801,866 3,638,301 3,480,049 3,601,358 3,694,622 3,599,081 3,666,852 3,622,714 3,516,762 3,384,410 3,393,576 3,233,865 3,033,471 2,845,045 2,852,989 1,346,169 1,305,549 1,373,682 1,255,704 1,252,891 1,192,983 1,218,959 1,127,460
Long-term Activity Ratio
Equity turnover1 1.00 1.03 1.06 1.04 1.05 1.11 1.10 1.09 1.07 1.03 0.83 0.76 0.75 0.76 0.84 1.79 1.75 1.59 1.66 1.57
Benchmarks
Equity Turnover, Competitors2
Abbott Laboratories 1.07 1.08 1.12 1.19 1.26 1.25 1.26 1.20 1.23 1.19 1.11 1.06 1.03 1.03 1.06 1.03
Cigna Group 4.13 4.07 4.09 4.00 3.98 3.88 3.81 3.66 3.56 3.40 3.36 3.16 3.24 3.24 3.39 3.36
CVS Health Corp. 4.66 4.65 4.62 4.53 4.45 4.08 4.05 3.87 3.82 3.79 3.81 3.86 3.86 3.87 4.01 4.00
Elevance Health Inc. 4.36 4.31 4.27 4.29 4.22 4.13 3.97 3.80 3.71 3.65 3.65 3.64 3.43 3.26 3.41 3.25
Humana Inc. 5.98 5.82 5.74 6.04 5.62 5.77 5.63 5.15 4.96 5.34 5.48 5.54 4.65 4.86 5.44 5.35
Intuitive Surgical Inc. 0.55 0.56 0.57 0.56 0.53 0.50 0.49 0.48 0.48 0.48 0.45 0.45 0.47 0.50 0.54 0.54
Medtronic PLC 0.60 0.59 0.59 0.60 0.60 0.61 0.61 0.59 0.55 0.56 0.56 0.57 0.60 0.61 0.61 0.61
UnitedHealth Group Inc. 4.22 4.19 4.10 4.14 4.19 4.18 4.06 3.98 3.95 3.92 3.94 3.90 3.85 3.87 4.29 4.17

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q3 2023 Calculation
Equity turnover = (Net revenuesQ3 2023 + Net revenuesQ2 2023 + Net revenuesQ1 2023 + Net revenuesQ4 2022) ÷ Stockholders’ equity
= (960,214 + 1,002,173 + 943,147 + 901,515) ÷ 3,801,866 = 1.00

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Align Technology Inc. equity turnover ratio deteriorated from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.