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
Quarterly Data

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

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Accounts payable
Accrued liabilities
Finance lease 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-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Accounts Payable
The percentage of accounts payable relative to total liabilities and stockholders’ equity has generally exhibited a declining trend from early 2018 into the most recent quarter. It peaked in mid-2021 at 4.17% before gradually decreasing to 1.58% by Q3 2023, indicating a reduced reliance on accounts payable financing or improved payment practices over time.
Accrued Liabilities
Accrued liabilities as a percentage of total liabilities and stockholders’ equity showed fluctuation over the period. Starting around 10% in 2018, it declined significantly in 2020, reaching lows near 6%, then progressively increased through 2021 and 2023, peaking slightly below 10%. This pattern indicates variability in short-term obligations such as accrued expenses or taxes.
Finance Lease Liabilities
Finance lease liabilities were only reported in March 2019 with a value of 2.51%, and no further data points are provided. This limited information suggests either termination or reclassification of these liabilities in subsequent periods.
Deferred Revenues
Deferred revenues have consistently increased, rising from approximately 16.6% in early 2018 to over 23% by Q1 2023. This steady growth suggests increasing advance payments from customers or prepayments for services, reflecting potentially growing sales on subscription or installment bases.
Current Liabilities
Current liabilities as a proportion of total liabilities and stockholders’ equity have demonstrated volatility with an overall upward trend between 2018 and late 2019, reaching a peak near 39%. A sharp decline occurred in 2020 to around 23-27%, followed by a recovery trend toward mid-2023 back to approximately 34%. This indicates changing short-term obligations possibly linked to operational or financing decisions during the pandemic period and afterwards.
Income Tax Payable
Income tax payable proportions decreased from around 6.7% in early 2018 to near 2% in recent years, showing a declining trend. This suggests either reduced tax liabilities or improved tax payment timing over the years analyzed.
Long-Term Operating Lease Liabilities
Starting from 2019, long-term operating lease liabilities remained relatively stable between 1.3% and 2% of total liabilities and stockholders’ equity, with minor fluctuations. This indicates a consistent level of commitment to operating leases over the period.
Other Long-Term Liabilities
Other long-term liabilities experienced a gradual increase from about 1% in early 2018 to approximately 3.2% by 2022, with a slight decline thereafter. This gradual increase points to growing obligations not otherwise classified under leases or finance liabilities.
Noncurrent Liabilities
Noncurrent liabilities as a whole maintained relative stability with values fluctuating between 5% and 7.8%, showing mild variation without clear trending up or down patterns throughout the period.
Total Liabilities
Total liabilities showed a rise from the lower 30% range in 2018 to near 46% by the end of 2019, followed by a noticeable dip in 2020 to around 28-33%, and a subsequent progressive increase levelling off around 40% through 2023. The initial rise may reflect increased borrowing or obligations, whereas the 2020 drop could be associated with pandemic-related balance sheet management adjustments.
Stockholders’ Equity
Stockholders’ equity as a percentage of total liabilities and stockholders’ equity exhibited an inverse trend to total liabilities. Beginning around 63% in 2018, it declined to about 54% by end of 2019, then surged to over 70% in 2020, before gradually declining again toward 59-60% by late 2023. This interplay suggests significant changes in capital structure and retained earnings allocation relative to liabilities.
Additional Paid-in Capital
Additional paid-in capital steadily decreased from about 48% in early 2018 down to nearly 17-19% in the 2020-2023 timeframe. The reduction implies either dilution due to equity issuance, repurchase activities, or adjustments affecting contributed capital over time.
Accumulated Other Comprehensive Income (Loss), Net
This metric showed minor fluctuations around zero, with losses recorded in late 2018 early 2019 and again in late 2022, but returned to small positive values intermittently. These movements indicate modest unrealized gains or losses from foreign currency translation, hedging, or other comprehensive income items.
Retained Earnings
Retained earnings relative to total liabilities and stockholders’ equity increased significantly starting in 2020, peaking around 49%, contrasting with lower and more volatile values before then. This substantial growth suggests accumulation of net earnings and company profitability strengthening during this period.