Price to Book Value (P/BV)
since 2005
Paying user area
Try for free
Align Technology Inc. pages available for free this week:
- Income Statement
- Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Align Technology Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Calculation
Align Technology Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 27, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2014 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 12, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Align Technology Inc. Annual Report.
The analysis of the annual financial data over the reported periods reveals several notable trends in the share price, book value per share (BVPS), and price-to-book value (P/BV) ratio.
- Share Price (US$)
- The share price exhibited significant volatility and an overall upward trajectory over the years. Initially, it increased from $8.46 in 2006 to a peak $19.54 in 2011, followed by fluctuations including a decline in 2009 to $6.85. From 2011 onward, the price displayed a strong bullish trend, with particularly sharp increases starting in 2017, reaching an all-time high of $567.11 in 2021. A subsequent decrease followed in the two years after, declining to $304.64 by 2023. Despite this recent decline, the long-term trend reflects substantial capital appreciation.
- Book Value Per Share (BVPS) (US$)
- The BVPS showed a steady and consistent upward trend throughout the entire period. Beginning at $1.49 in 2006, it gradually increased almost every year, surpassing $10 by 2016, and then rising sharply to $40.87 by 2021. It further increased in 2022 and 2023 to $45.98 and $47.01 respectively. This reflects sustained growth in the company's net asset base on a per-share basis, indicating strong fundamentals and retained earnings accumulation.
- Price-to-Book Value (P/BV) Ratio (ratio)
- The P/BV ratio experienced considerable fluctuations. Early periods were marked by very high ratios, especially in 2007 (13.23) and 2018 (18.29), suggesting that the market price significantly exceeded the book value, possibly driven by investor optimism or growth expectations. Mid-periods displayed more moderate ratios ranging primarily between 4.0 and 8.3. After peaking in 2018, the ratio declined steadily to 6.48 in 2023. This decline in P/BV ratio in recent years can be partially attributed to the rapid increase in book value and the correction in the share price after its peak, indicating a move towards more balanced valuation levels.
In summary, the data illustrates strong fundamental growth as evidenced by rising book value per share, alongside substantial share price gains resulting in episodic high valuation multiples. The company's market valuation experienced periods of elevated investor enthusiasm as reflected in P/BV peaks, followed by more tempered valuations in recent years. Overall, the trends suggest solid operational growth with episodes of market speculation impacting stock prices.
Comparison to Competitors
Align Technology Inc., P/BV, long-term trends, comparison to competitors
| Align Technology Inc. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Feb 27, 2023 | ||||||
| Feb 25, 2022 | ||||||
| Feb 26, 2021 | ||||||
| Feb 28, 2020 | ||||||
| Feb 28, 2019 | ||||||
| Feb 28, 2018 | ||||||
| Feb 28, 2017 | ||||||
| Feb 25, 2016 | ||||||
| Feb 26, 2015 | ||||||
| Feb 28, 2014 | ||||||
| Mar 1, 2013 | ||||||
| Feb 29, 2012 | ||||||
| Feb 24, 2011 | ||||||
| Feb 26, 2010 | ||||||
| Feb 27, 2009 | ||||||
| Feb 26, 2008 | ||||||
| Mar 12, 2007 | ||||||
| Mar 1, 2006 |
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., P/BV, long-term trends, comparison to sector (health care equipment & services)
| Align Technology Inc. | Health Care Equipment & Services | |
|---|---|---|
| Feb 27, 2023 | ||
| Feb 25, 2022 | ||
| Feb 26, 2021 | ||
| Feb 28, 2020 | ||
| Feb 28, 2019 | ||
| Feb 28, 2018 | ||
| Feb 28, 2017 | ||
| Feb 25, 2016 | ||
| Feb 26, 2015 | ||
| Feb 28, 2014 | ||
| Mar 1, 2013 | ||
| Feb 29, 2012 | ||
| Feb 24, 2011 | ||
| Feb 26, 2010 | ||
| Feb 27, 2009 | ||
| Feb 26, 2008 | ||
| Mar 12, 2007 | ||
| Mar 1, 2006 |
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., P/BV, long-term trends, comparison to industry (health care)
| Align Technology Inc. | Health Care | |
|---|---|---|
| Feb 27, 2023 | ||
| Feb 25, 2022 | ||
| Feb 26, 2021 | ||
| Feb 28, 2020 | ||
| Feb 28, 2019 | ||
| Feb 28, 2018 | ||
| Feb 28, 2017 | ||
| Feb 25, 2016 | ||
| Feb 26, 2015 | ||
| Feb 28, 2014 | ||
| Mar 1, 2013 | ||
| Feb 29, 2012 | ||
| Feb 24, 2011 | ||
| Feb 26, 2010 | ||
| Feb 27, 2009 | ||
| Feb 26, 2008 | ||
| Mar 12, 2007 | ||
| Mar 1, 2006 |
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).