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Intrinsic value of Align Technology, Inc. (ALGN)

Previous Close$293.71
Intrinsic Value
Upside potential
Previous Close
$293.71

VALUATION INPUT DATA (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh127.2 

The original valuation is based on fiscal year data as of 2022-12-31 and quarterly data as of 2023-03-31.

Registered users can save their valuation input data

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

Company description

Align Technology, Inc., a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign comprehensive treatment that addresses the orthodontic needs of teenage patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of seven and ten years, which is a mixture of primary/baby and permanent teeth. This segment's non-comprehensive products comprise Invisalign moderate, lite and express packages, and Invisalign go; and non-case products include retention products, Invisalign training fees, and sales of ancillary products, such as cleaning material, and adjusting tools used by dental professionals during the course of treatment. The Scanners and Services segment offers iTero scanner, a single hardware platform with software options for restorative or orthodontic procedures; restorative software for general practitioner dentists, prosthodontists, periodontists, and oral surgeons; and software for orthodontists for digital records storage, orthodontic diagnosis, and for the fabrication of printed models and retainers. This segment also provides computer-aided design and computer-aided manufacturing services; ancillary products, such as disposable sleeves for the wand; iTero model and dies; third party scanners and digital scans; Invisalign outcome simulator, a chair-side and cloud-based application for the iTero scanner; Invisalign progress assessment tool; and TimeLapse technology, which allows doctors or practitioners to compare a patient's historic 3D scans to the present-day scan. The company sells its products in the United States, Switzerland, China, and internationally. Align Technology, Inc. was incorporated in 1997 and is headquartered in Tempe, Arizona.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2022(a)2023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047

INCOME STATEMENT

Revenue growth rate, %-5.5NaN
Revenue, $3735NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m3092NaN
Operating income, $m643NaN
EBITDA, $m768NaN
Interest expense (income), $mNaN
Earnings before tax, $m599NaN
Tax expense, $m237NaN
Net income, $m362NaN

BALANCE SHEET

Cash and short-term investments, $m1000NaN
Total assets, $m5948NaN
Adjusted assets (=assets-cash), $m4948NaN
Average production assets, $m1673NaN
Working capital, $m499NaN
Total debt, $m127NaN
Total liabilities, $m2347NaN
Total equity, $m3601NaN
Debt-to-equity ratio0.035NaN
Adjusted equity ratio0.531NaN

CASH FLOW

Net income, $m362NaN
Depreciation, amort., depletion, $m126NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m569NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-292NaN
Free cash flow, $m861NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m499
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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