Forensic Analysis · Medical Devices · as of Nov 10, 2026

Align Technology Inc (ALGN)

A forensic read on Align Technology Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Safe

Financial health

4.6

Distress distance

Clean

Earnings quality

Forensic signals

10.4%

ROE

0.9%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Align Technology Inc earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 4.6, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

12.0%

FY2025

Return on invested capital. Return on invested capital is 12.0% in the latest fiscal year and slipping across FY2023–FY2025 from 14.5%. After-tax operating profit was $447M in FY2023 and $383M in FY2025, with operating income at 16.7% of revenue in FY2023, 15.2% in FY2024 and 13.5% in FY2025. The capital base behind it went from $3.1B in FY2023 to $3.2B in FY2025 (+3%), while the revenue it carried went from $3.9B to $4.0B.

95% of FCF

FY2025

Shareholder returns. Returned $466M to shareholders (buybacks + dividends) in FY2025 — 95% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet. Counting the $186M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 133%.

Key fundamentals

Latest Revenue$4.03B

Revenue Growth YoY+0.9%

Revenue CAGR (2yr)+2.2%

Net Margin10.2%

Free Cash Flow$490.8M

Return on Equity10.4%

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Data from SEC EDGAR public filings · metrics as of Nov 10, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.