Stock Analysis on Net
Stock Analysis on Net

Align Technology Inc. (NASDAQ:ALGN)

$22.49

This company has been moved to the archive! The financial data has not been updated since November 3, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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Align Technology Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Accounts payable
Accrued payroll and benefits
Accrued income taxes
Accrued expenses
Accrued sales and marketing expenses
Current operating lease liabilities
Accrued property, plant and equipment
Other accrued liabilities
Accrued liabilities
Deferred revenues
Current liabilities
Income tax payable
Long-term operating lease liabilities
Other long-term liabilities
Noncurrent liabilities
Total liabilities
Preferred stock, $0.0001 par value; none issued
Common stock, $0.0001 par value
Additional paid-in capital
Accumulated other comprehensive income (loss), net
Retained earnings
Stockholders’ equity
Total liabilities and stockholders’ equity

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Liabilities
Over the five-year period, total liabilities as a percentage of total liabilities and stockholders' equity exhibited notable fluctuations. Initially, there was an increase from 38.96% in 2018 to 46.17% in 2019, followed by a significant decrease to 33.04% in 2020. Subsequently, liabilities rose again to 39.03% in 2021 and slightly increased to 39.45% in 2022. Current liabilities showed a similar pattern, peaking at 38.83% in 2019, declining to 27.45% in 2020, then rising and stabilizing around 32.38% in 2021 and 2022.
Accrued Liabilities
Accrued liabilities as a whole decreased from 11.43% in 2018 to 7.64% in 2022, with some volatility during this period. There was a low point of 8.4% in 2020 amid wider decreases before a slight rebound in 2021 then a reduction in 2022. Specific categories such as accrued payroll and benefits dropped significantly from 6.19% in 2018 to 2.51% in 2022, indicating possible operational changes or improved management of payroll obligations.
Accounts Payable and Accrued Expenses
Accounts payable steadily declined from 3.13% in 2018 to 2.15% in 2022, suggesting reduced short-term payables relative to the company’s capital structure. Accrued expenses also fell from 1.92% in 2018 to slightly above 1% in 2022, indicating controlled spending or improved payment cycles.
Deferred Revenues
Deferred revenues showed a rise from 19.15% in 2018 to 22.59% in 2022, despite a dip in 2020 to 16.11%. This pattern points to higher advance payments or obligations over the later years, reflecting either growth in contract-type sales or subscription models.
Income Tax and Payroll-related Accruals
Accrued income taxes doubled from 0.28% in 2018 to 1.25% in 2022, indicating increased tax liabilities relative to equity and total liabilities. Income tax payable saw an overall decrease from 3.8% in 2018 to just over 2% in 2022, which might indicate the timing differences between tax expenses and payments.
Lease Liabilities
Current operating lease liabilities remained small and relatively stable, diminishing slightly from 0.63% in 2019 to 0.45% in 2022 after some fluctuations. Long-term operating lease liabilities, introduced in 2019 at 1.74%, decreased slightly to 1.69% by 2022, suggesting a moderate reduction or a steady lease portfolio balance.
Noncurrent Liabilities and Other Long-term Liabilities
Noncurrent liabilities increased moderately from 5.24% in 2018 to 7.07% in 2022 with a peak in 2019 at 7.34%. Other long-term liabilities followed a similar rising trend, growing from 1.44% in 2018 to 3.29% in 2022, signaling possible new long-term obligations or deferred costs.
Stockholders’ Equity
Stockholders’ equity as a percentage decreased from 61.04% in 2018 to a low of 53.83% in 2019 but rebounded to 66.96% in 2020, before settling around 60.5% in 2021 and 2022. This suggests overall strengthening of equity after the 2019 dip. Retained earnings showed a strong increase from 18.42% in 2018 to 45.88% in 2020, maintaining high levels subsequently, indicating significant profit retention or capital accumulation during this period.
Additional Paid-in Capital and Comprehensive Income
Additional paid-in capital dropped substantially from 42.75% in 2018 to around 17.57% by 2022, indicating less capital infusion or stock issuance relative to total capital. Accumulated other comprehensive income (loss) fluctuated around neutral values, remaining under 1% in either positive or negative territory, implying minimal impact on overall equity from other comprehensive income items.