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Intrinsic value of Align Technology, Inc. (ALGN)

Previous Close$249.02
Intrinsic Value
Upside potential
Previous Close
$249.02

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, $/sh251.95 

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

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; software for orthodontists for digital records storage, orthodontic diagnosis, and for the fabrication of printed models and retainers; computer-aided design/computer-aided manufacturing services and ancillary products, such as disposable sleeves for the wand; and iTero applications and tools. The company sells its products in the United States, the Netherlands, China, and internationally. Align Technology, Inc. was founded in 1997 and is headquartered in San Jose, California.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %59.9NaN
Revenue, $3953NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m2977NaN
Operating income, $m976NaN
EBITDA, $m1112NaN
Interest expense (income), $mNaN
Earnings before tax, $m1012NaN
Tax expense, $m240NaN
Net income, $m772NaN

BALANCE SHEET

Cash and short-term investments, $m1171NaN
Total assets, $m5942NaN
Adjusted assets (=assets-cash), $m4771NaN
Average production assets, $m1562NaN
Working capital, $m570NaN
Total debt, $m126NaN
Total liabilities, $m2319NaN
Total equity, $m3623NaN
Debt-to-equity ratio0.035NaN
Adjusted equity ratio0.519NaN

CASH FLOW

Net income, $m772NaN
Depreciation, amort., depletion, $m136NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m1173NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-401NaN
Free cash flow, $m1574NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m570
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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