Stock Analysis on Net
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.

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Microsoft Excel

Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).

Historical Valuation Ratios (Summary)

Align Technology Inc., historical price multiples (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
Price to earnings (P/E) 41.68 88.07 76.17 64.55 27.67 37.06 31.67 52.31 71.08 80.09 98.33 25.27 19.33 13.61 8.70 38.84 47.47 38.73 69.30 51.76 — — —
Price to operating profit (P/OP) 25.87 49.24 41.52 36.32 18.82 26.42 23.56 41.36 54.30 63.24 83.01 115.91 103.33 84.11 31.31 31.70 38.85 31.70 57.17 44.40 — — —
Price to sales (P/S) 3.97 7.40 6.48 6.25 3.66 5.75 5.55 10.22 14.00 16.10 16.00 18.15 14.69 10.72 6.82 7.14 8.68 7.38 12.54 10.53 — — —
Price to book value (P/BV) 3.98 7.60 6.90 6.48 3.83 6.37 6.10 11.15 14.96 16.53 13.27 13.88 11.08 8.14 5.76 12.77 15.23 11.77 20.76 16.53 15.48 24.24 18.14

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).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Align Technology Inc. P/E ratio increased from Q1 2023 to Q2 2023 but then decreased significantly from Q2 2023 to Q3 2023.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Align Technology Inc. P/OP ratio increased from Q1 2023 to Q2 2023 but then decreased significantly from Q2 2023 to Q3 2023.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Align Technology Inc. P/S ratio increased from Q1 2023 to Q2 2023 but then decreased significantly from Q2 2023 to Q3 2023.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Align Technology Inc. P/BV ratio increased from Q1 2023 to Q2 2023 but then decreased significantly from Q2 2023 to Q3 2023.

Price to Earnings (P/E)

Align Technology Inc., historical P/E 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
No. shares of common stock outstanding1 76,589,114 76,533,704 76,516,951 76,610,319 78,112,351 78,108,185 78,805,547 78,795,494 78,853,069 79,011,543 79,136,575 79,132,723 78,850,392 78,786,683 78,762,958 78,753,161 78,812,958 79,870,881 80,004,892 79,989,347 79,984,381 80,320,082 80,149,641
Selected Financial Data (US$)
Net income (loss) (in thousands) 121,427 111,814 87,798 41,775 72,700 112,800 134,298 190,961 180,969 199,714 200,376 158,988 139,371 (40,602) 1,518,131 121,262 102,524 147,142 71,848 97,392 100,872 106,105 95,866
Earnings per share (EPS)2 4.74 4.10 4.12 4.72 6.54 7.93 8.96 9.80 9.39 8.84 5.79 22.44 22.04 21.59 23.98 5.62 5.32 5.22 4.70 5.00 0.00 0.00 0.00
Share price1, 3 197.44 361.44 313.64 304.64 180.93 293.73 283.72 512.56 667.06 708.01 569.25 567.11 426.08 293.82 208.61 218.35 252.29 202.35 325.88 258.97 230.95 367.92 255.14
Valuation Ratio
P/E ratio4 41.68 88.07 76.17 64.55 27.67 37.06 31.67 52.31 71.08 80.09 98.33 25.27 19.33 13.61 8.70 38.84 47.47 38.73 69.30 51.76 — — —
Benchmarks
P/E Ratio, Competitors5
Abbott Laboratories 31.95 36.16 33.21 26.76 21.95 22.24 25.48 29.13 31.42 33.80 36.79 48.49 58.45 58.36 45.61 41.83 — — — — — — —
Cigna Group 17.59 12.80 11.43 13.13 14.99 15.60 15.72 13.43 8.43 8.60 10.62 8.71 14.60 12.08 13.82 13.26 — — — — — — —
CVS Health Corp. 10.28 33.58 22.61 27.53 40.34 16.30 16.49 17.39 16.78 14.94 14.44 12.88 10.69 10.20 10.94 14.15 — — — — — — —
Elevance Health Inc. 18.14 17.03 17.46 19.20 18.75 18.07 20.46 18.13 18.65 22.10 19.99 15.87 14.35 11.97 14.80 15.96 — — — — — — —
Humana Inc. 19.98 17.74 20.27 22.52 25.24 19.26 18.48 18.34 22.09 22.82 15.20 14.48 13.49 15.26 19.09 18.10 — — — — — — —
Intuitive Surgical Inc. 61.96 79.78 79.43 64.99 56.03 52.74 55.10 59.94 71.86 69.15 89.95 87.47 82.17 70.73 44.27 48.72 — — — — — — —
Medtronic PLC 26.88 24.40 22.61 23.38 29.39 30.66 46.71 46.56 55.13 42.80 32.34 26.30 25.38 31.86 32.75 28.78 — — — — — — —
UnitedHealth Group Inc. 22.75 22.15 22.01 22.46 26.13 27.70 27.29 26.03 27.92 27.41 23.06 20.54 17.70 16.88 19.91 20.48 — — — — — — —

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 Data adjusted for splits and stock dividends.

2 Q3 2023 Calculation
EPS = (Net income (loss)Q3 2023 + Net income (loss)Q2 2023 + Net income (loss)Q1 2023 + Net income (loss)Q4 2022) ÷ No. shares of common stock outstanding
= (121,427,000 + 111,814,000 + 87,798,000 + 41,775,000) ÷ 76,589,114 = 4.74

3 Closing price as at the filing date of Align Technology Inc. Quarterly or Annual Report.

4 Q3 2023 Calculation
P/E ratio = Share price ÷ EPS
= 197.44 ÷ 4.74 = 41.68

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Align Technology Inc. P/E ratio increased from Q1 2023 to Q2 2023 but then decreased significantly from Q2 2023 to Q3 2023.

Price to Operating Profit (P/OP)

Align Technology Inc., historical P/OP 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
No. shares of common stock outstanding1 76,589,114 76,533,704 76,516,951 76,610,319 78,112,351 78,108,185 78,805,547 78,795,494 78,853,069 79,011,543 79,136,575 79,132,723 78,850,392 78,786,683 78,762,958 78,753,161 78,812,958 79,870,881 80,004,892 79,989,347 79,984,381 80,320,082 80,149,641
Selected Financial Data (US$)
Income (loss) from operations (in thousands) 166,346 171,931 133,516 112,661 143,656 188,196 198,082 220,892 261,160 268,902 225,446 213,184 177,069 (73,000) 69,918 151,150 127,152 176,490 87,701 120,473 125,208 122,691 98,192
Operating profit per share2 7.63 7.34 7.55 8.39 9.61 11.12 12.04 12.39 12.28 11.20 6.86 4.89 4.12 3.49 6.66 6.89 6.49 6.38 5.70 5.83 0.00 0.00 0.00
Share price1, 3 197.44 361.44 313.64 304.64 180.93 293.73 283.72 512.56 667.06 708.01 569.25 567.11 426.08 293.82 208.61 218.35 252.29 202.35 325.88 258.97 230.95 367.92 255.14
Valuation Ratio
P/OP ratio4 25.87 49.24 41.52 36.32 18.82 26.42 23.56 41.36 54.30 63.24 83.01 115.91 103.33 84.11 31.31 31.70 38.85 31.70 57.17 44.40 — — —
Benchmarks
P/OP Ratio, Competitors5
Abbott Laboratories 27.48 30.47 27.70 22.18 18.35 18.63 21.33 24.45 26.84 29.01 31.39 40.69 45.82 45.19 35.87 34.03 — — — — — — —
Cigna Group 11.38 10.51 9.34 10.40 12.05 10.20 10.40 9.08 9.12 9.28 11.13 9.03 9.24 7.58 8.59 8.38 — — — — — — —
CVS Health Corp. 6.32 15.41 11.67 14.75 20.01 9.97 10.06 10.43 9.43 7.87 7.61 6.65 5.89 5.98 6.19 7.83 — — — — — — —
Elevance Health Inc. 14.38 13.36 13.61 15.05 15.30 14.72 17.53 15.70 15.81 19.93 15.79 12.10 10.93 9.03 11.95 13.55 — — — — — — —
Humana Inc. 13.43 13.47 14.93 16.63 18.96 18.96 17.45 17.08 21.55 14.39 11.02 9.78 9.84 11.28 14.59 15.35 — — — — — — —
Intuitive Surgical Inc. 55.63 70.08 66.95 54.49 46.65 44.54 49.98 56.11 67.95 69.51 89.18 88.37 83.88 71.30 43.68 48.89 — — — — — — —
Medtronic PLC 19.53 17.99 19.55 20.48 25.40 27.20 38.83 37.44 49.88 42.55 35.86 26.29 21.01 23.52 22.21 21.26 — — — — — — —
UnitedHealth Group Inc. 15.63 15.33 15.41 15.89 18.75 19.96 19.69 18.77 19.63 19.05 16.12 14.12 12.35 11.85 13.80 14.40 — — — — — — —

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 Data adjusted for splits and stock dividends.

2 Q3 2023 Calculation
Operating profit per share = (Income (loss) from operationsQ3 2023 + Income (loss) from operationsQ2 2023 + Income (loss) from operationsQ1 2023 + Income (loss) from operationsQ4 2022) ÷ No. shares of common stock outstanding
= (166,346,000 + 171,931,000 + 133,516,000 + 112,661,000) ÷ 76,589,114 = 7.63

3 Closing price as at the filing date of Align Technology Inc. Quarterly or Annual Report.

4 Q3 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 197.44 ÷ 7.63 = 25.87

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Align Technology Inc. P/OP ratio increased from Q1 2023 to Q2 2023 but then decreased significantly from Q2 2023 to Q3 2023.

Price to Sales (P/S)

Align Technology Inc., historical P/S 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
No. shares of common stock outstanding1 76,589,114 76,533,704 76,516,951 76,610,319 78,112,351 78,108,185 78,805,547 78,795,494 78,853,069 79,011,543 79,136,575 79,132,723 78,850,392 78,786,683 78,762,958 78,753,161 78,812,958 79,870,881 80,004,892 79,989,347 79,984,381 80,320,082 80,149,641
Selected Financial Data (US$)
Net revenues (in thousands) 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
Sales per share2 49.71 48.83 48.41 48.75 49.47 51.08 51.15 50.16 47.63 43.97 35.58 31.24 29.01 27.42 30.58 30.56 29.07 27.41 25.98 24.58 0.00 0.00 0.00
Share price1, 3 197.44 361.44 313.64 304.64 180.93 293.73 283.72 512.56 667.06 708.01 569.25 567.11 426.08 293.82 208.61 218.35 252.29 202.35 325.88 258.97 230.95 367.92 255.14
Valuation Ratio
P/S ratio4 3.97 7.40 6.48 6.25 3.66 5.75 5.55 10.22 14.00 16.10 16.00 18.15 14.69 10.72 6.82 7.14 8.68 7.38 12.54 10.53 — — —
Benchmarks
P/S Ratio, Competitors5
Abbott Laboratories 4.13 4.64 4.64 4.25 3.85 4.18 4.42 4.78 5.38 5.36 5.64 6.30 6.13 5.77 5.09 4.83 — — — — — — —
Cigna Group 0.49 0.46 0.42 0.49 0.55 0.48 0.48 0.42 0.42 0.42 0.55 0.46 0.50 0.41 0.45 0.44 — — — — — — —
CVS Health Corp. 0.26 0.29 0.27 0.36 0.40 0.43 0.44 0.47 0.45 0.39 0.40 0.35 0.32 0.32 0.30 0.37 — — — — — — —
Elevance Health Inc. 0.66 0.66 0.68 0.74 0.77 0.75 0.89 0.81 0.78 0.73 0.76 0.60 0.61 0.63 0.65 0.74 — — — — — — —
Humana Inc. 0.59 0.61 0.66 0.68 0.78 0.68 0.65 0.65 0.73 0.71 0.73 0.64 0.76 0.76 0.74 0.76 — — — — — — —
Intuitive Surgical Inc. 13.72 17.06 16.21 13.81 12.62 12.69 15.34 17.89 22.12 21.73 23.19 21.29 20.09 18.44 13.33 15.01 — — — — — — —
Medtronic PLC 3.55 3.42 3.79 3.72 4.54 4.54 5.74 5.57 5.71 5.43 5.11 4.36 4.34 4.82 4.72 4.36 — — — — — — —
UnitedHealth Group Inc. 1.39 1.35 1.37 1.40 1.62 1.66 1.61 1.58 1.55 1.47 1.49 1.24 1.18 1.17 1.12 1.18 — — — — — — —

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 Data adjusted for splits and stock dividends.

2 Q3 2023 Calculation
Sales per share = (Net revenuesQ3 2023 + Net revenuesQ2 2023 + Net revenuesQ1 2023 + Net revenuesQ4 2022) ÷ No. shares of common stock outstanding
= (960,214,000 + 1,002,173,000 + 943,147,000 + 901,515,000) ÷ 76,589,114 = 49.71

3 Closing price as at the filing date of Align Technology Inc. Quarterly or Annual Report.

4 Q3 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 197.44 ÷ 49.71 = 3.97

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Align Technology Inc. P/S ratio increased from Q1 2023 to Q2 2023 but then decreased significantly from Q2 2023 to Q3 2023.

Price to Book Value (P/BV)

Align Technology Inc., historical P/BV 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
No. shares of common stock outstanding1 76,589,114 76,533,704 76,516,951 76,610,319 78,112,351 78,108,185 78,805,547 78,795,494 78,853,069 79,011,543 79,136,575 79,132,723 78,850,392 78,786,683 78,762,958 78,753,161 78,812,958 79,870,881 80,004,892 79,989,347 79,984,381 80,320,082 80,149,641
Selected Financial Data (US$)
Stockholders’ equity (in thousands) 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
Book value per share (BVPS)2 49.64 47.54 45.48 47.01 47.30 46.08 46.53 45.98 44.60 42.83 42.88 40.87 38.47 36.11 36.22 17.09 16.57 17.20 15.70 15.66 14.92 15.18 14.07
Share price1, 3 197.44 361.44 313.64 304.64 180.93 293.73 283.72 512.56 667.06 708.01 569.25 567.11 426.08 293.82 208.61 218.35 252.29 202.35 325.88 258.97 230.95 367.92 255.14
Valuation Ratio
P/BV ratio4 3.98 7.60 6.90 6.48 3.83 6.37 6.10 11.15 14.96 16.53 13.27 13.88 11.08 8.14 5.76 12.77 15.23 11.77 20.76 16.53 15.48 24.24 18.14
Benchmarks
P/BV Ratio, Competitors5
Abbott Laboratories 4.40 5.02 5.21 5.06 4.85 5.21 5.56 5.75 6.61 6.38 6.27 6.65 6.30 5.94 5.40 4.96 4.65 4.86 4.49 — — — —
Cigna Group 2.04 1.87 1.73 1.95 2.20 1.86 1.84 1.53 1.49 1.44 1.86 1.46 1.61 1.34 1.51 1.49 1.49 1.44 1.42 — — — —
CVS Health Corp. 1.19 1.35 1.26 1.61 1.80 1.77 1.79 1.83 1.71 1.47 1.51 1.33 1.24 1.24 1.21 1.47 1.47 1.23 1.25 — — — —
Elevance Health Inc. 2.87 2.86 2.90 3.19 3.24 3.08 3.55 3.07 2.88 2.67 2.78 2.19 2.10 2.06 2.23 2.42 2.13 2.40 2.15 — — — —
Humana Inc. 3.55 3.56 3.81 4.13 4.36 3.91 3.66 3.34 3.63 3.82 3.99 3.55 3.55 3.71 4.04 4.07 3.48 3.38 3.07 — — — —
Intuitive Surgical Inc. 7.49 9.57 9.29 7.78 6.71 6.29 7.48 8.59 10.64 10.35 10.40 9.53 9.35 9.19 7.22 8.13 8.43 8.49 8.68 — — — —
Medtronic PLC 2.12 2.03 2.23 2.24 2.75 2.77 3.52 3.26 3.14 3.02 2.84 2.48 2.60 2.94 2.87 2.66 2.48 2.62 2.59 — — — —
UnitedHealth Group Inc. 5.84 5.68 5.60 5.81 6.80 6.94 6.54 6.27 6.13 5.76 5.86 4.83 4.54 4.53 4.81 4.92 4.32 4.40 4.37 — — — —

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 Data adjusted for splits and stock dividends.

2 Q3 2023 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 3,801,866,000 ÷ 76,589,114 = 49.64

3 Closing price as at the filing date of Align Technology Inc. Quarterly or Annual Report.

4 Q3 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 197.44 ÷ 49.64 = 3.98

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Align Technology Inc. P/BV ratio increased from Q1 2023 to Q2 2023 but then decreased significantly from Q2 2023 to Q3 2023.