Debt to Equity
since 2005
Calculation
Align Technology Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Line of credit1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 0.00 | = | —) | ÷ | 3,601,358) |
| Dec 31, 2021 | 0.00 | = | —) | ÷ | 3,622,714) |
| Dec 31, 2020 | 0.00 | = | —) | ÷ | 3,233,865) |
| Dec 31, 2019 | 0.00 | = | —) | ÷ | 1,346,169) |
| Dec 31, 2018 | 0.00 | = | —) | ÷ | 1,252,891) |
| Dec 31, 2017 | 0.00 | = | —) | ÷ | 1,150,370) |
| Dec 31, 2016 | 0.00 | = | —) | ÷ | 995,389) |
| Dec 31, 2015 | 0.00 | = | —) | ÷ | 847,926) |
| Dec 31, 2014 | 0.00 | = | —) | ÷ | 752,771) |
| Dec 31, 2013 | 0.00 | = | —) | ÷ | 633,970) |
| Dec 31, 2012 | 0.00 | = | —) | ÷ | 581,317) |
| Dec 31, 2011 | 0.00 | = | —) | ÷ | 490,781) |
| Dec 31, 2010 | 0.00 | = | —) | ÷ | 377,747) |
| Dec 31, 2009 | 0.00 | = | —) | ÷ | 273,036) |
| Dec 31, 2008 | 0.00 | = | —) | ÷ | 218,540) |
| Dec 31, 2007 | 0.00 | = | —) | ÷ | 161,154) |
| Dec 31, 2006 | 0.14 | = | 11,500) | ÷ | 83,556) |
| Dec 31, 2005 | 0.00 | = | —) | ÷ | 93,438) |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
Stockholders' equity has demonstrated consistent and substantial growth over the period from 2005 to 2022. Beginning at 93,438 thousand US dollars in 2005, the equity base expanded steadily for over a decade, surpassing 1 billion US dollars by 2017. A significant acceleration in equity accumulation occurred between 2019 and 2020, where the value increased from 1,346,169 thousand US dollars to 3,233,865 thousand US dollars, representing a growth of approximately 140% in a single fiscal year. Equity levels peaked in 2021 at 3,622,714 thousand US dollars before slightly normalizing to 3,601,358 thousand US dollars by the end of 2022.
- Capital Structure and Leverage
- A debt to equity ratio of 0.14 was recorded in 2006, indicating a low reliance on borrowed capital relative to equity during that period. This is consistent with the recorded line of credit of 11,500 thousand US dollars for the same year.
- Solvency Trends
- The massive expansion of stockholders' equity from 2005 through 2022 suggests a strengthening of the financial position. The dramatic increase in the equity base, particularly the jump observed in 2020, significantly enhances the company's capacity to absorb losses and reduces the relative impact of any outstanding liabilities on the overall capital structure.
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Comparison to Competitors
Align Technology Inc., debt to equity, long-term trends, comparison to competitors
| Align Technology Inc. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2022 | 0.00 | 0.46 | 0.66 | 0.00 | 0.46 | 0.74 |
| Dec 31, 2021 | 0.00 | 0.50 | 0.64 | 0.00 | 0.51 | 0.64 |
| Dec 31, 2020 | 0.00 | 0.57 | 0.60 | 0.00 | 0.49 | 0.66 |
| Dec 31, 2019 | 0.00 | 0.58 | 0.63 | 0.00 | 0.51 | 0.71 |
| Dec 31, 2018 | 0.00 | 0.64 | 0.67 | 0.00 | 0.51 | 0.71 |
| Dec 31, 2017 | 0.00 | 0.90 | 0.75 | 0.00 | 0.66 | 0.66 |
| Dec 31, 2016 | 0.00 | 1.07 | 0.63 | 0.00 | 0.60 | 0.86 |
| Dec 31, 2015 | 0.00 | 0.42 | 0.69 | 0.00 | 0.68 | 0.95 |
| Dec 31, 2014 | 0.00 | 0.36 | 0.62 | 0.00 | 0.61 | 0.54 |
| Dec 31, 2013 | 0.00 | 0.26 | 0.59 | 0.00 | 0.57 | 0.52 |
| Dec 31, 2012 | 0.00 | 0.77 | 0.63 | 0.00 | 0.62 | 0.54 |
| Dec 31, 2011 | 0.00 | 0.63 | 0.42 | 0.00 | 0.62 | 0.41 |
| Dec 31, 2010 | 0.00 | 0.85 | 0.38 | 0.00 | 0.65 | 0.43 |
| Dec 31, 2009 | 0.00 | 0.72 | 0.34 | 0.00 | 0.57 | 0.47 |
| Dec 31, 2008 | 0.00 | 0.65 | 0.41 | 0.00 | 0.60 | 0.62 |
| Dec 31, 2007 | 0.00 | 0.69 | 0.39 | 0.00 | 0.55 | 0.55 |
| Dec 31, 2006 | 0.14 | 0.88 | 0.29 | 0.00 | 0.84 | 0.36 |
| Dec 31, 2005 | 0.00 | 0.46 | 0.27 | 0.00 | 0.23 | 0.40 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Health Care Equipment & Services)
Align Technology Inc., debt to equity, long-term trends, comparison to sector (health care equipment & services)
| Align Technology Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2022 | 0.00 | 0.57 |
| Dec 31, 2021 | 0.00 | 0.55 |
| Dec 31, 2020 | 0.00 | 0.56 |
| Dec 31, 2019 | 0.00 | 0.58 |
| Dec 31, 2018 | 0.00 | 0.60 |
| Dec 31, 2017 | 0.00 | 0.71 |
| Dec 31, 2016 | 0.00 | 0.72 |
| Dec 31, 2015 | 0.00 | 0.69 |
| Dec 31, 2014 | 0.00 | 0.52 |
| Dec 31, 2013 | 0.00 | 0.47 |
| Dec 31, 2012 | 0.00 | 0.61 |
| Dec 31, 2011 | 0.00 | 0.49 |
| Dec 31, 2010 | 0.00 | 0.55 |
| Dec 31, 2009 | 0.00 | 0.51 |
| Dec 31, 2008 | 0.00 | 0.55 |
| Dec 31, 2007 | 0.00 | 0.53 |
| Dec 31, 2006 | 0.14 | 0.50 |
| Dec 31, 2005 | 0.00 | 0.34 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Align Technology Inc., debt to equity, long-term trends, comparison to industry (health care)
| Align Technology Inc. | Health Care | |
|---|---|---|
| Dec 31, 2022 | 0.00 | 0.72 |
| Dec 31, 2021 | 0.00 | 0.80 |
| Dec 31, 2020 | 0.00 | 0.92 |
| Dec 31, 2019 | 0.00 | 0.90 |
| Dec 31, 2018 | 0.00 | 0.80 |
| Dec 31, 2017 | 0.00 | 0.82 |
| Dec 31, 2016 | 0.00 | 0.77 |
| Dec 31, 2015 | 0.00 | 0.69 |
| Dec 31, 2014 | 0.00 | 0.54 |
| Dec 31, 2013 | 0.00 | 0.50 |
| Dec 31, 2012 | 0.00 | 0.54 |
| Dec 31, 2011 | 0.00 | 0.47 |
| Dec 31, 2010 | 0.00 | 0.43 |
| Dec 31, 2009 | 0.00 | 0.42 |
| Dec 31, 2008 | 0.00 | 0.42 |
| Dec 31, 2007 | 0.00 | 0.36 |
| Dec 31, 2006 | 0.14 | 0.32 |
| Dec 31, 2005 | 0.00 | 0.30 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).