Price to Earnings (P/E)
since 2005
Calculation
Align Technology Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss)1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 27, 2023 | 64.55 | = | 304.64 | ÷ | 4.72 | 4.72 | = | 361,573 | ÷ | 76,610,319 | |
| Feb 25, 2022 | 52.31 | = | 512.56 | ÷ | 9.80 | 9.80 | = | 772,020 | ÷ | 78,795,494 | |
| Feb 26, 2021 | 25.27 | = | 567.11 | ÷ | 22.44 | 22.44 | = | 1,775,888 | ÷ | 79,132,723 | |
| Feb 28, 2020 | 38.84 | = | 218.35 | ÷ | 5.62 | 5.62 | = | 442,776 | ÷ | 78,753,161 | |
| Feb 28, 2019 | 51.76 | = | 258.97 | ÷ | 5.00 | 5.00 | = | 400,235 | ÷ | 79,989,347 | |
| Feb 28, 2018 | 90.91 | = | 262.52 | ÷ | 2.89 | 2.89 | = | 231,418 | ÷ | 80,135,229 | |
| Feb 28, 2017 | 43.49 | = | 102.76 | ÷ | 2.36 | 2.36 | = | 189,682 | ÷ | 80,276,127 | |
| Feb 25, 2016 | 35.64 | = | 64.46 | ÷ | 1.81 | 1.81 | = | 144,020 | ÷ | 79,625,640 | |
| Feb 26, 2015 | 31.23 | = | 56.43 | ÷ | 1.81 | 1.81 | = | 145,832 | ÷ | 80,720,243 | |
| Feb 28, 2014 | 66.32 | = | 52.33 | ÷ | 0.79 | 0.79 | = | 64,295 | ÷ | 81,480,919 | |
| Mar 1, 2013 | 43.37 | = | 31.13 | ÷ | 0.72 | 0.72 | = | 58,691 | ÷ | 81,758,299 | |
| Feb 29, 2012 | 30.47 | = | 25.61 | ÷ | 0.84 | 0.84 | = | 66,716 | ÷ | 79,368,864 | |
| Feb 24, 2011 | 20.23 | = | 19.54 | ÷ | 0.97 | 0.97 | = | 74,253 | ÷ | 76,878,090 | |
| Feb 26, 2010 | — | = | 18.10 | ÷ | -0.42 | -0.42 | = | -31,269 | ÷ | 75,277,984 | |
| Feb 27, 2009 | 5.66 | = | 6.85 | ÷ | 1.21 | 1.21 | = | 79,987 | ÷ | 66,055,143 | |
| Feb 26, 2008 | 25.20 | = | 13.02 | ÷ | 0.52 | 0.52 | = | 35,724 | ÷ | 69,155,844 | |
| Mar 12, 2007 | — | = | 16.79 | ÷ | -0.53 | -0.53 | = | -34,963 | ÷ | 65,837,621 | |
| Mar 1, 2006 | 375.26 | = | 8.46 | ÷ | 0.02 | 0.02 | = | 1,413 | ÷ | 62,675,855 |
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.
- Share Price
- The share price exhibits a general upward trend over the analyzed period. Starting from a value of $8.46, it experienced fluctuations in the initial years but showed significant growth particularly from 2013 onwards. Peaks are notable in 2018 with a price of $262.52 and an all-time high in 2021 reaching $567.11. Following this peak, the share price declined in the subsequent years, reaching $304.64 in 2023, indicating some volatility in the later stages.
- Earnings Per Share (EPS)
- The EPS values demonstrate considerable variability over the years. Early periods reflect mixed performance, with negative EPS in 2007 and 2010. From 2009 onward, EPS generally improved, transitioning to consistent positive figures. Marked growth is seen from 2017, with EPS increasing sharply to 22.44 in 2021. However, similar to the share price, EPS declined afterward to 4.72 by 2023, suggesting reduced profitability or increased earnings volatility in recent years.
- Price-to-Earnings Ratio (P/E)
- The P/E ratio displays substantial fluctuation across the timeframe, reflecting changing investor sentiment and volatility in earnings. Early on, an extremely high P/E ratio of 375.26 is observed in 2006, likely due to very low EPS. Over time, the ratio experienced peaks and troughs, with notable values such as 90.91 in 2018 and elevated ratios during 2022-2023 (52.31 and 64.55 respectively). Despite growth in share price and EPS at various points, the P/E ratio’s volatility suggests periods of both optimism and caution by investors regarding the company's valuation and earnings sustainability.
Comparison to Competitors
Align Technology Inc., P/E, 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 | 64.55 | 26.76 | 9,358,713.46 | 64.99 | 23.38 | 22.46 |
| Feb 25, 2022 | 52.31 | 29.13 | 18.13 | 59.94 | 46.56 | 26.03 |
| Feb 26, 2021 | 25.27 | 48.49 | 15.87 | 87.47 | 26.30 | 20.54 |
| Feb 28, 2020 | 38.84 | 41.83 | 15.96 | 48.72 | 28.78 | 20.48 |
| Feb 28, 2019 | 51.76 | 56.47 | 21.45 | 53.03 | 37.80 | 21.09 |
| Feb 28, 2018 | 90.91 | 220.29 | 15.44 | 70.95 | 29.96 | 20.77 |
| Feb 28, 2017 | 43.49 | 55.16 | 17.48 | 37.16 | 33.17 | 21.73 |
| Feb 25, 2016 | 35.64 | 12.83 | 12.99 | 34.24 | 40.56 | 18.18 |
| Feb 26, 2015 | 31.23 | 31.30 | 15.29 | 44.77 | 20.75 | 18.50 |
| Feb 28, 2014 | 66.32 | 23.25 | 9.95 | 22.82 | 14.99 | 12.35 |
| Mar 1, 2013 | 43.37 | 9.24 | 7.09 | 35.05 | 10.57 | 10.58 |
| Feb 29, 2012 | 30.47 | 18.67 | 8.36 | 39.05 | 13.37 | 10.78 |
| Feb 24, 2011 | 20.23 | 15.68 | 8.74 | 33.85 | 12.65 | 10.01 |
| Feb 26, 2010 | — | 14.69 | 5.53 | 54.30 | 17.11 | 9.91 |
| Feb 27, 2009 | 5.66 | 17.11 | 8.26 | 21.99 | 26.02 | 11.66 |
| Feb 26, 2008 | 25.20 | 23.82 | 12.02 | 79.87 | 20.81 | 12.85 |
| Mar 12, 2007 | — | 48.17 | 16.05 | 58.08 | 21.31 | 17.58 |
| Mar 1, 2006 | 375.26 | 20.03 | 20.66 | 36.68 | 35.12 | 24.20 |
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/E, long-term trends, comparison to sector (health care equipment & services)
| Align Technology Inc. | Health Care Equipment & Services | |
|---|---|---|
| Feb 27, 2023 | 64.55 | 1,429,718.32 |
| Feb 25, 2022 | 52.31 | 28.98 |
| Feb 26, 2021 | 25.27 | 27.23 |
| Feb 28, 2020 | 38.84 | 25.22 |
| Feb 28, 2019 | 51.76 | 28.84 |
| Feb 28, 2018 | 90.91 | 28.17 |
| Feb 28, 2017 | 43.49 | 27.54 |
| Feb 25, 2016 | 35.64 | 20.20 |
| Feb 26, 2015 | 31.23 | 21.28 |
| Feb 28, 2014 | 66.32 | 14.93 |
| Mar 1, 2013 | 43.37 | 10.51 |
| Feb 29, 2012 | 30.47 | 14.07 |
| Feb 24, 2011 | 20.23 | 12.56 |
| Feb 26, 2010 | — | 11.86 |
| Feb 27, 2009 | 5.66 | 15.75 |
| Feb 26, 2008 | 25.20 | 17.58 |
| Mar 12, 2007 | — | 22.77 |
| Mar 1, 2006 | 375.26 | 24.03 |
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/E, long-term trends, comparison to industry (health care)
| Align Technology Inc. | Health Care | |
|---|---|---|
| Feb 27, 2023 | 64.55 | 351,256.81 |
| Feb 25, 2022 | 52.31 | 21.55 |
| Feb 26, 2021 | 25.27 | 32.22 |
| Feb 28, 2020 | 38.84 | 22.09 |
| Feb 28, 2019 | 51.76 | 24.32 |
| Feb 28, 2018 | 90.91 | 33.04 |
| Feb 28, 2017 | 43.49 | 21.90 |
| Feb 25, 2016 | 35.64 | 19.53 |
| Feb 26, 2015 | 31.23 | 21.38 |
| Feb 28, 2014 | 66.32 | 18.67 |
| Mar 1, 2013 | 43.37 | 15.77 |
| Feb 29, 2012 | 30.47 | 15.79 |
| Feb 24, 2011 | 20.23 | 15.12 |
| Feb 26, 2010 | — | 11.71 |
| Feb 27, 2009 | 5.66 | 13.07 |
| Feb 26, 2008 | 25.20 | 19.29 |
| Mar 12, 2007 | — | 18.61 |
| Mar 1, 2006 | 375.26 | 21.71 |
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).