Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 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.

D · Weak — demands caution

Forensic grade

Safe

Financial health

8.6

Distress distance

Clean

Earnings quality

Forensic signals

29.1

P / E (ttm)

10.1%

ROE

$12.5B

Market cap

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 (red flags, auditor quality, say on pay, board independence). 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 D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 8.6, 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

11.9%

FY2025

Return on invested capital. Return on invested capital is 11.9% in the latest fiscal year and slipping from 14% — a modest positive spread over its ~10% cost of capital — growth adds value, though not dramatically.

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. That ratio has actually been EASING, not tightening further — down from ~157% of free cash flow a few years back. 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 (3yr)+2.6%

Net Margin10.2%

Free Cash Flow$490.8M

Return on Equity10.1%

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.