Align Technology Inc., current enterprise value calculation

Current share price (P)	$197.44
No. shares of common stock outstanding	76,589,114
US$ in thousands
Common equity (market value)¹	15,121,755)
Add: Preferred stock, $0.0001 par value; none issued (per books)	—)
Total equity	15,121,755)
Add: Total debt (book value)	—)
Total equity and debt	15,121,755)
Less: Cash and cash equivalents	942,050)
Less: Marketable securities, short-term	57,534)
Enterprise value (EV)	14,122,171)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 197.44 × 76,589,114

Align Technology Inc., EV calculation

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Share price^1, 2	$304.64	$512.56	$567.11	$218.35	$258.97
No. shares of common stock outstanding¹	76,610,319	78,795,494	79,132,723	78,753,161	79,989,347
US$ in thousands
Common equity (market value)³	23,338,568)	40,387,418)	44,876,959)	17,195,753)	20,714,841)
Add: Preferred stock, $0.0001 par value; none issued (book value)	—)	—)	—)	—)	—)
Total equity	23,338,568)	40,387,418)	44,876,959)	17,195,753)	20,714,841)
Add: Total debt (book value)	—)	—)	—)	—)	—)
Total equity and debt	23,338,568)	40,387,418)	44,876,959)	17,195,753)	20,714,841)
Less: Cash and cash equivalents	942,050)	1,099,370)	960,843)	550,425)	636,899)
Less: Marketable securities, short-term	57,534)	71,972)	—)	318,202)	98,460)
Enterprise value (EV)	22,338,984)	39,216,076)	43,916,116)	16,327,126)	19,979,482)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Align Technology Inc. Annual Report.

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 304.64 × 76,610,319

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Align Technology Inc. EV decreased from 2020 to 2021 and from 2021 to 2022.

Align Technology Inc. (NASDAQ:ALGN)

Enterprise Value (EV)