Align Technology (ALGN) stock
Health Care · Health Care Supplies
Align Technology (ALGN) is a Health Care Supplies company in the Health Care sector, headquartered in Tempe, Arizona. As of October 23, 2026, ALGN closed at $154.51, a market capitalization of $10.98 billion, the 488th largest company in the S&P 500. Over the last twelve months it generated $4.14 billion in revenue (+4% year over year) and $633.57 million in free cash flow. The stock trades at 26.9x trailing earnings and 12.5x forward earnings.
- 1-year total return: +13.6% (dividends reinvested)
- 5-year return: -23.5% a year
- 52-week range: $130.23 – $200.44
- Gross margin 70.7%, operating margin 18.2%
- FI Handbook report card: B across 10 metrics
- 58th largest of 60 Health Care stocks in the S&P 500
ALGN price chart
1Y price change: +13.6% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| ALGN | +4.3% | -1.1% | +13.6% | -16.5% | -23.5% | +5.6% | +9.0% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2001.
ALGN key statistics
- Market cap
- $11.0B
- #488 in S&P 500
- P/E (TTM)
- 26.9x
- Forward P/E
- 12.5x
- EPS (TTM)
- $5.75
- Revenue (TTM)
- $4.1B
- +4%
- Free cash flow
- $633.6M
- Gross margin
- 70.7%
- Operating margin
- 18.2%
- Return on equity
- 10.2%
- Dividend yield
- None
- 52-week range
- $130.23 – $200.44
- Beta
- 1.67
- Price / sales
- 2.7x
- EV / EBITDA
- 10.8x
- Debt / equity
- 0.03x
- Employees
- 20,435
ALGN report card
BTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth4.3%D
- Gross margin70.7%A
- Operating margin18.2%C
- FCF margin15.3%B
- Return on equity10.2%C
- Net debt / EBITDA-1.1xA
- Forward P/E12.5xA
- PEG ratio0.6xA
- Shareholder yield4.2%B
- Share count change / yr-1.7%B
Align Technology financials
Revenue went from $1.1B in fiscal 2016 to $4.0B in fiscal 2025, growing 15.8% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.5B | $2.0B | $2.4B | $2.5B | $4.0B | $3.7B | $3.9B | $4.0B | $4.0B |
| Gross profit | $815.3M | $1.1B | $1.4B | $1.7B | $1.8B | $2.9B | $2.6B | $2.7B | $2.8B | $2.7B |
| Operating income | $248.9M | $353.6M | $466.6M | $542.5M | $387.2M | $976.4M | $642.6M | $643.3M | $607.6M | $545.8M |
| Net income | $189.7M | $231.4M | $400.2M | $442.8M | $1.8B | $772.0M | $361.6M | $445.1M | $421.4M | $410.4M |
| EPS (diluted) | $2.33 | $2.83 | $4.92 | $5.53 | $22.41 | $9.69 | $4.61 | $5.81 | $5.62 | $5.65 |
| Free cash flow | $177.1M | $242.8M | $331.4M | $597.6M | $507.3M | $771.4M | $276.8M | $608.1M | $622.7M | $490.8M |
| Buybacks | $96.2M | $103.8M | $300.0M | $400.0M | $0 | $375.0M | $435.0M | $592.4M | $352.9M | $465.9M |
| Diluted shares | 81.5M | 81.8M | 81.4M | 80.1M | 79.2M | 79.7M | 78.4M | 76.6M | 75.0M | 72.6M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into ALGN?
A reverse DCF asks what growth the current price requires. With an enterprise value of $10.0B and $633.6M of trailing free cash flow, Align Technology needs to grow free cash flow about 4.7% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew -0.7% a year over the last five years.
P/E ratio history
Current 27.3x vs. median 40.8x (10th–90th percentile 22.3x–81.3x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
ALGN analyst price targets
14 analysts' average 12-month target is $190.21 (+23% vs. $154.51). Targets range from $155.00 to $215.00. 50% rate it a buy.
ALGN earnings
Next report: October 28, 2026. Align Technology has beaten EPS estimates 4 quarters in a row. Last quarter's revenue was $1.1B (+4% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 29, 2026 | $2.60 | $2.64 | +1.7% |
| Apr 29, 2026 | $2.29 | $2.58 | +12.8% |
| Feb 4, 2026 | $2.97 | $3.29 | +10.8% |
| Oct 29, 2025 | $2.41 | $2.61 | +8.4% |
| Jul 30, 2025 | $2.57 | $2.49 | -3.3% |
| Apr 30, 2025 | $1.99 | $2.13 | +7.1% |
| Feb 5, 2025 | $2.45 | $2.44 | -0.4% |
| Oct 23, 2024 | $2.31 | $2.35 | +1.6% |
Stocks like ALGN
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 WST West Pharmaceutical Services, I | -0.48% | +28% | $27.6B | 50.2x | Compare |
 COO Cooper Companies | -0.71% | -18% | $11.6B | 21.0x | Compare |
 LLY Eli Lilly and | -2.54% | +56% | $1.1T | 42.7x | Compare |
 JNJ Johnson & Johnson | -1.42% | +40% | $635.1B | 40.0x | Compare |
 ABBV AbbVie | +0.16% | +29% | $504.8B | 80.7x | Compare |
 UNH UnitedHealth | -1.62% | +19% | $375.3B | 26.9x | Compare |
 MRK Merck & | -1.34% | +72% | $358.4B | 117.2x | Compare |
 TMO Thermo Fisher Scientific | -0.40% | +18% | $249.1B | 35.5x | Compare |
ALGN news
- Invisalign’s Moment of Truth: Will International Growth Save ALGN on Oct 28? · Oct 25, 2026
- Align Technology to Report Q3 Earnings: What's in the Cards? · Oct 22, 2026
- Align Technology (ALGN) Earnings Expected to Grow: Should You Buy? · Oct 21, 2026
- Global Clear Aligners Market Size, Share, Trends, and Forecast to 2031 | Image-Conscious Adults Set to Nearly Double the Clear Aligner Market to $11bn Market Value · Oct 20, 2026
- What You Need To Know Ahead of Align Technology's Earnings Release · Oct 20, 2026
ALGN stock FAQ
What is ALGN's market cap?
Align Technology's market capitalization is $10.98 billion as of October 23, 2026, ranking 488th in the S&P 500.
What is ALGN's P/E ratio?
ALGN trades at a trailing price-to-earnings ratio of 26.9x and a forward P/E of 12.5x. Its median P/E over the period we track is 40.8x.
Does ALGN pay a dividend?
No. Align Technology does not currently pay a regular cash dividend.
How much has ALGN stock returned?
Including reinvested dividends, ALGN returned +13.6% over one year, -23.5% a year over five years, +5.6% a year over ten years through October 23, 2026.
Is ALGN stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Align Technology must grow free cash flow about 5% a year for the next decade. Its free cash flow fell 1% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the ALGN price target?
14 analysts cover ALGN with an average 12-month price target of $190.21, +23% from the current price. 50% of them rate it a buy.
When does ALGN report earnings?
Align Technology is expected to report earnings on October 28, 2026. It has beaten EPS estimates 4 quarters in a row.
How many employees does Align Technology have?
Align Technology has about 20,435 full-time employees, or $202,571 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology