financial statements

The full income statement, balance sheet, and cash-flow statement for Align Technology Inc. (ALGN), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

See the live ALGN chart & snapshot →

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	4.03B YoY+0.9%	4.00B YoY+3.5%	3.86B YoY+3.4%	3.73B YoY-5.5%	3.95B YoY+59.9%
	2.71B YoY-3.1%	2.80B YoY+3.4%	2.71B YoY+2.8%	2.63B YoY-10.3%	2.94B YoY+66.5%
Cost of revenue	1.32B YoY+10.3%	1.20B YoY+3.8%	1.16B YoY+5.0%	1.10B YoY+8.2%	1.02B YoY+43.5%
	2.17B YoY-1.2%	2.19B YoY+6.2%	2.06B YoY+3.6%	1.99B YoY+1.6%	1.96B YoY+42.4%
Research & development	370M YoY+1.6%	364M YoY+5.0%	347M YoY+13.6%	305M YoY+21.9%	250M YoY+42.8%
Selling, general & administrative	1.76B YoY-0.4%	1.76B YoY+3.5%	1.70B YoY+1.7%	1.67B YoY-2.0%	1.71B YoY+42.3%
Restructuring	—	37.0M YoY+164.5%	14.0M YoY+37.5%	10.2M	—
Amortization of intangibles	18.8M YoY-0.5%	18.9M YoY+15.2%	16.4M YoY+2.5%	16.0M YoY-3.6%	16.6M YoY+23.9%
Provision for credit losses	—	—	—	—	2.81M YoY-76.7%
Operating income	546M YoY-10.2%	608M YoY-5.6%	643M YoY+0.1%	643M YoY-34.2%	976M YoY+152.2%
Other non-operating income	23.5M YoY+224.4%	-18.9M YoY+2.6%	-19.4M YoY+60.3%	-48.9M YoY-248.6%	32.9M YoY+390.1%
Equity-method income	—	—	—	—	0.00
Pre-tax income	585M YoY-3.9%	609M YoY-5.0%	641M YoY+7.0%	599M YoY-40.8%	1.01B YoY+167.2%
Income tax	175M YoY-6.7%	188M YoY-4.4%	196M YoY-17.4%	237M YoY-1.2%	240M YoY+117.2%
Net income	410M YoY-2.6%	421M YoY-5.4%	445M YoY+22.9%	362M YoY-53.1%	772M YoY-56.5%
	$5.65 YoY+0.5%	$5.62 YoY-3.3%	$5.81 YoY+26.0%	$4.61 YoY-52.4%	$9.69 YoY-56.8%
EPS (basic)	$5.66 YoY+0.5%	$5.63 YoY-3.3%	$5.82 YoY+26.0%	$4.62 YoY-52.8%	$9.78 YoY-56.6%
Weighted-avg shares (basic)	72.5M YoY-3.1%	74.9M YoY-2.0%	76.4M YoY-2.3%	78.2M YoY-0.9%	78.9M YoY+0.2%
Weighted-avg shares (diluted)	72.6M YoY-3.2%	75.0M YoY-2.1%	76.6M YoY-2.4%	78.4M YoY-1.6%	79.7M YoY+0.6%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.62B YoY+5.0%	2.49B YoY+1.9%	2.45B YoY+0.9%	2.42B YoY-2.8%	2.49B YoY+34.8%
Cash & equivalents	1.09B YoY+4.9%	1.04B YoY+11.4%	937M YoY-0.5%	942M YoY-14.3%	1.10B YoY+14.4%
Short-term investments	318M YoY+0.0%	318M YoY+0.0%	318M YoY+0.0%	318M YoY+0.0%	318M YoY+0.0%
Accounts receivable	1.10B YoY+10.7%	996M YoY+10.2%	903M YoY+5.1%	860M YoY-4.2%	897M YoY+36.4%
Inventory	226M YoY-11.0%	254M YoY-14.4%	297M YoY-12.4%	339M YoY+47.1%	230M YoY+65.4%
Prepaid expenses	166M YoY-16.6%	199M YoY-27.4%	274M YoY+20.8%	226M YoY+15.9%	195M YoY+112.9%
Other current assets	47.3M YoY-42.0%	81.6M YoY+5.5%	77.3M YoY+361.4%	16.8M YoY-46.7%	31.5M YoY-49.0%
	6.23B YoY+0.3%	6.21B YoY+2.1%	6.08B YoY+2.3%	5.95B YoY+0.1%	5.94B YoY+23.0%
Property, plant & equipment	1.13B YoY-11.0%	1.27B YoY-1.5%	1.29B YoY+4.8%	1.23B YoY+13.9%	1.08B YoY+47.3%
Operating lease right-of-use	108M YoY-4.5%	113M YoY-3.9%	118M YoY-0.7%	119M YoY-2.0%	121M YoY+46.9%
Goodwill	492M YoY+11.1%	443M YoY+5.5%	420M YoY+2.9%	408M YoY-2.6%	419M YoY-5.9%
Intangible assets	93.9M YoY-9.2%	103M YoY+26.0%	82.1M YoY-14.2%	95.7M YoY-12.8%	110M YoY-15.7%
Long-term investments	0.00	0.00	0.00	0.00	0.00
Deferred tax assets	1.51B YoY-2.8%	1.56B YoY-2.1%	1.59B YoY+1.2%	1.57B YoY+2.5%	1.53B YoY-1.2%
Other non-current assets	278M YoY+18.7%	234M YoY+82.0%	129M YoY+130.5%	55.8M YoY-2.9%	57.5M YoY+63.6%
	1.92B YoY-5.8%	2.04B YoY-1.4%	2.07B YoY+7.3%	1.93B YoY+0.1%	1.92B YoY+45.1%
Accounts payable	121M YoY+11.7%	109M YoY-3.9%	113M YoY-11.5%	128M YoY-22.0%	164M YoY+15.3%
Accrued liabilities	537M YoY-10.3%	598M YoY+13.8%	526M YoY+15.7%	454M YoY-25.2%	607M YoY+49.7%
Deferred revenue	1.26B YoY-5.2%	1.33B YoY-6.8%	1.43B YoY+6.3%	1.34B YoY+16.5%	1.15B YoY+48.2%
Current lease liability	31.9M YoY+2.8%	31.1M YoY+4.8%	29.7M YoY+11.6%	26.6M YoY+17.0%	22.7M YoY+4.5%
	2.18B YoY-7.5%	2.36B YoY-3.7%	2.45B YoY+4.6%	2.35B YoY+1.2%	2.32B YoY+45.3%
Deferred revenue (non-current)	85.5M YoY-16.3%	102M YoY-26.0%	138M YoY-14.1%	161M YoY+17.5%	137M YoY+118.5%
Non-current lease liability	82.5M YoY-6.5%	88.2M YoY-9.0%	97.0M YoY-3.4%	100M YoY-2.3%	103M YoY+59.3%
Other non-current liabilities	114M YoY-18.6%	140M YoY-19.2%	173M YoY-11.7%	196M YoY+12.2%	175M YoY+74.6%
	4.05B YoY+5.1%	3.85B YoY+6.1%	3.63B YoY+0.8%	3.60B YoY-0.6%	3.62B YoY+12.0%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	7.00K YoY+0.0%	7.00K YoY+0.0%	7.00K YoY-12.5%	8.00K YoY+0.0%	8.00K YoY+0.0%
Additional paid-in capital	1.51B YoY+10.8%	1.36B YoY+17.2%	1.16B YoY+11.2%	1.04B YoY+4.6%	999M YoY+2.5%
Retained earnings	2.46B YoY-0.8%	2.48B YoY+1.5%	2.45B YoY-4.7%	2.57B YoY-2.0%	2.62B YoY+18.2%
Accumulated other comprehensive income	75.4M YoY+1161.1%	5.98M YoY-71.8%	21.2M YoY+305.8%	-10.3M YoY-337.7%	4.33M YoY-90.1%
Total liabilities & equity	6.23B YoY+0.3%	6.21B YoY+2.1%	6.08B YoY+2.3%	5.95B YoY+0.1%	5.94B YoY+23.0%
Common shares issued	71.4M YoY-3.4%	73.8M YoY-1.6%	75.1M YoY-2.8%	77.3M YoY-1.8%	78.7M YoY-0.2%
Common shares outstanding	71.4M YoY-3.4%	73.8M YoY-1.6%	75.1M YoY-2.8%	77.3M YoY-1.8%	78.7M YoY-0.2%
Shares outstanding (cover)	71.7M YoY-3.9%	74.7M YoY-2.5%	76.6M YoY-2.0%	78.1M YoY-0.9%	78.9M YoY+0.0%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	593M YoY-19.6%	738M YoY-6.1%	786M YoY+38.2%	569M YoY-51.5%	1.17B YoY+77.1%
Depreciation & amortization	237M YoY+63.7%	145M YoY+1.8%	142M YoY+13.2%	126M YoY+15.7%	109M YoY+16.2%
Share-based compensation	186M YoY+7.0%	174M YoY+12.8%	154M YoY+15.5%	133M YoY+16.6%	114M YoY+16.2%
Deferred income taxes	33.1M YoY+28.5%	25.8M YoY+238.2%	-18.6M YoY+52.8%	-39.5M YoY-355.5%	15.5M YoY+101.0%
Change in receivables	140M YoY-8.8%	153M YoY+46.7%	105M YoY+585.5%	-21.5M YoY-108.2%	262M YoY+87.5%
Change in inventory	-808K YoY+96.8%	-25.1M YoY+17.0%	-30.2M YoY-123.2%	130M YoY+15.7%	112M YoY+286.3%
Change in payables	5.33M YoY+732.3%	-843K YoY+89.1%	-7.70M YoY+78.9%	-36.5M YoY-285.0%	19.7M YoY-62.2%
	-112M YoY+55.9%	-255M YoY-30.1%	-196M YoY+8.1%	-213M YoY+62.1%	-563M YoY-143.4%
Capital expenditure	102M YoY-11.4%	116M YoY-35.0%	178M YoY-39.1%	292M YoY-27.2%	401M YoY+158.9%
Acquisitions	0.00 YoY-100.0%	77.1M	0.00 YoY-100.0%	12.3M YoY+53.8%	8.00M YoY-98.1%
Sales/maturities of investments	0.00 YoY-100.0%	25.7M YoY-53.5%	55.2M YoY+132.0%	23.8M YoY+4676.1%	498K YoY-98.8%
Other investing activities	0.00 YoY+100.0%	-235K YoY+15.5%	-278K YoY-112.6%	2.21M YoY-55.9%	5.01M YoY+533.5%
	-465M YoY-30.6%	-356M YoY+40.5%	-598M YoY-19.3%	-502M YoY-9.5%	-458M YoY-1387.7%
Common stock issued	21.7M YoY-14.0%	25.3M YoY-4.9%	26.6M YoY+1.7%	26.1M YoY+2.1%	25.6M YoY+26.1%
Common stock repurchased	466M YoY+32.0%	353M YoY-40.4%	592M YoY+36.2%	435M YoY+16.0%	375M
FX effect on cash	35.0M YoY+265.6%	-21.2M YoY-552.9%	4.67M YoY+140.6%	-11.5M YoY+5.0%	-12.1M YoY-215.6%
Net change in cash	51.2M YoY-51.9%	106M YoY+2874.9%	-3.84M YoY+97.6%	-158M YoY-213.8%	139M YoY-66.2%
Income taxes paid	135M YoY-23.9%	177M YoY-39.9%	295M YoY+27.0%	232M YoY+14.1%	203M YoY+166.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	11.2B YoY-28.0%	15.6B YoY-25.8%	21.0B YoY+27.4%	16.5B YoY-68.2%	51.8B YoY+23.0%
P/E	27.3× YoY-26.1%	37.0× YoY-36.0%	57.7× YoY+79.0%	32.3× YoY-52.0%	67.1× YoY+182.9%
P/S	2.8× YoY-28.7%	3.9× YoY-29.3%	5.5× YoY+29.2%	4.3× YoY-67.5%	13.1× YoY-23.1%
P/B	2.8× YoY-31.5%	4.0× YoY-26.7%	5.5× YoY+23.7%	4.5× YoY-68.8%	14.3× YoY+9.8%
P/FCF	22.8× YoY-8.7%	25.0× YoY-18.2%	30.6× YoY-35.2%	47.2× YoY-29.7%	67.2× YoY-19.1%
Earnings yield	3.7% YoY+35.3%	2.7% YoY+56.1%	1.7% YoY-44.1%	3.1% YoY+108.1%	1.5% YoY-64.7%
FCF yield	4.4% YoY+9.5%	4.0% YoY+22.3%	3.3% YoY+54.4%	2.1% YoY+42.3%	1.5% YoY+23.7%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: ALGN's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ALGN filings on SEC EDGAR → Not investment advice.

ALGN▼ financial statements

About this data

financial statements