Price to Sales (P/S)
since 2005
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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
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Calculation
Align Technology Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net revenues1 (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.
- Share Price Trend
- The share price demonstrated significant volatility over the analyzed period. Initially, it rose from 8.46 USD in 2006 to a peak near 19.54 USD in 2011, followed by steady appreciation reaching an all-time high of 567.11 USD in 2021. After this peak, the price experienced a notable decline to 304.64 USD by early 2023, indicating a correction phase subsequent to rapid growth.
- Sales Per Share Trend
- Sales per share showed consistent and strong growth throughout the period, starting at 3.3 USD in 2006 and progressing to a peak of 50.16 USD in 2022. Although there was a slight decrease to 48.75 USD in 2023, the overall trend reflects robust revenue expansion on a per-share basis.
- Price-to-Sales (P/S) Ratio
- The P/S ratio exhibited considerable fluctuations, moving between 1.49 and 18.15. Early years showed modest ratios, around 2.56 to 4.54, indicating relatively balanced valuation against sales. However, from 2017 onwards, particularly peaking in 2021 at 18.15, the ratio escalated sharply, suggesting heightened market valuation relative to sales, possibly driven by investor optimism or expectations of future growth. The subsequent decline to 6.25 in 2023 suggests a recalibration of market expectations or valuation normalization.
- Overall Insights
- Over the long term, both share price and sales per share grew substantially, reflecting strong business performance and market confidence. The spike and then fall in the P/S ratio coupled with the peak and drop in share price highlight periods of market exuberance followed by correction. The slight recent decline in sales per share may warrant monitoring but does not overshadow the prevailing growth trend over the years analyzed.
Comparison to Competitors
Align Technology Inc., P/S, 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/S, 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/S, 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).