ALIGN TECHNOLOGY INC
ALGN · Orthopedic, Prosthetic & Surgical Appliances & Supplies · 71.6M shares · -1%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $438M (gross $592M, SBC $154M)
Reference price $189.31 · est. market cap ~$13.6B — last insider sale, 2026-02-18 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B80Align Technology — Invisalign maker with strong margins and cash flow.
Strengths
- Net margin 10% (82nd pct), operating (82nd), ROA (85th), strong FCF (87th)
- Leading clear-aligner brand and iTero scanner ecosystem
Risks
- Slowing growth (revenue +1%); consumer-discretionary demand
- Competitive and FX exposure
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
67.2%
Operating margin
13.5%
Net margin
10.2%
Return on equity
10.1%
Return on assets
6.6%
Revenue growth (QoQ)
-0.7%
Net-income growth
-2.6%
Current ratio
1.4×
Free cash flow
$491M
EBITDA
$783M
Tangible book value
$3.5B
Cash & investments
$1.1B
Stock comp / revenue
4.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-20 | Vitalone Britt J. | Option exercise | 1.4K | — |
| 2026-05-20 | SIEGEL SUSAN E | Option exercise | 1.7K | — |
| 2026-05-20 | Saia Andrea Lynn | Option exercise | 1.7K | — |
| 2026-05-20 | Poul Mojdeh | Option exercise | 1.7K | — |
| 2026-05-20 | Myong Anne | Option exercise | 1.7K | — |
| 2026-05-20 | LARKIN C RAYMOND JR | Option exercise | 2.3K | — |
| 2026-05-20 | Dallas Kevin J | Option exercise | 1.7K | — |
| 2026-05-20 | LACOB JOSEPH | Option exercise | 1.7K | — |
| 2026-05-20 | Conroy Kevin T | Option exercise | 1.7K | — |
| 2026-05-20 | MORROW GEORGE J | Option exercise | 1.7K | — |
| 2026-02-20 | Morici John | Option exercise | 7.8K | — |
| 2026-02-20 | Morici John | Tax withheld | 2.5K | $190.02 |
| 2026-02-20 | Hockridge Stuart A | Option exercise | 4.3K | — |
| 2026-02-20 | Hockridge Stuart A | Tax withheld | 1.2K | $190.02 |
| 2026-02-20 | Coletti Julie Ann | Option exercise | 5.9K | — |
| 2026-02-20 | Coletti Julie Ann | Tax withheld | 1.7K | $190.02 |
| 2026-02-20 | HOGAN JOSEPH M | Option exercise | 40K | — |
| 2026-02-20 | HOGAN JOSEPH M | Tax withheld | 16K | $190.02 |
| 2026-02-18 | Morici John | Sell | 8.0K | $189.31 |
| 2025-08-01 | HOGAN JOSEPH M | Buy | 7.6K | $131.49 |
| 2025-07-31 | Coletti Julie Ann | Buy | 42 | $109.66 |
| 2025-05-21 | Conroy Kevin T | Option exercise | 1.1K | — |
| 2025-05-21 | SIEGEL SUSAN E | Option exercise | 1.1K | — |
| 2025-05-21 | Saia Andrea Lynn | Option exercise | 1.1K | — |
| 2025-05-21 | Poul Mojdeh | Option exercise | 1.1K | — |
| 2025-05-21 | Myong Anne | Option exercise | 1.1K | — |
| 2025-05-21 | MORROW GEORGE J | Option exercise | 1.1K | — |
| 2025-05-21 | LARKIN C RAYMOND JR | Option exercise | 1.5K | — |
| 2025-05-21 | LACOB JOSEPH | Option exercise | 1.1K | — |
| 2025-05-21 | Dallas Kevin J | Option exercise | 1.1K | — |
| 2025-02-20 | Coletti Julie Ann | Option exercise | 3.3K | — |
| 2025-02-20 | Coletti Julie Ann | Tax withheld | 965 | $198.06 |
| 2025-02-20 | Hockridge Stuart A | Option exercise | 2.6K | — |
| 2025-02-20 | Hockridge Stuart A | Tax withheld | 696 | $198.06 |
| 2025-02-20 | Morici John | Option exercise | 4.5K | — |
| 2025-02-20 | Morici John | Tax withheld | 1.5K | $198.06 |
| 2025-02-20 | HOGAN JOSEPH M | Option exercise | 21K | — |
| 2025-02-20 | HOGAN JOSEPH M | Tax withheld | 8.9K | $198.06 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT06651944 ↗ | Invisalign® System with Mandibular Advancement Class II Malocclusion, Mandibular Advancement | NA | Recruiting | 2026-12-31 |
| NCT06662279 ↗ | Hyrax Vs. Invisalign Palatal Expander Clinical Study Malocclusions, Narrow Maxilla | NA | Recruiting | 2025-11-01 |
| NCT02376829 ↗ | Class II Correction Study Using the Invisalign System Malocclusion | NA | Completed | 2021-11-23 |
| NCT02550938 ↗ | Primer Aligner Study Malocclusion | NA | Completed | 2020-09-01 |
| NCT02087163 ↗ | The Use of Clear Aligners With Movement Enhancement Techniques Malocclusion | NA | Completed | 2018-12-01 |
| NCT02603289 ↗ | One Week Aligner Evaluation Malocclusion | — | Completed | 2018-11-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-22 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-05-20 | Shareholder voteExhibits | filing ↗ |
| 2026-05-01 | Reg FDExhibits | filing ↗ |
| 2026-04-29 | ResultsExhibits | filing ↗ |
| 2026-02-26 | 5.03Exhibits | filing ↗ |
| 2026-02-04 | ResultsExhibits | filing ↗ |
| 2025-10-29 | ResultsExhibits | filing ↗ |
| 2025-09-18 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-22 | 2026-06-17 | 0001097149-26-000048 ↗ |
| 8-K | 2026-05-20 | 2026-05-20 | 0001097149-26-000042 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001097149-26-000040 ↗ |
| 8-K | 2026-05-01 | 2026-04-30 | 0001097149-26-000036 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001097149-26-000033 ↗ |
| 10-K | 2026-02-27 | 2025-12-31 | 0001097149-26-000014 ↗ |
| 8-K | 2026-02-26 | 2026-02-24 | 0001097149-26-000010 ↗ |
| 8-K | 2026-02-04 | 2026-02-04 | 0001097149-26-000006 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001097149-25-000079 ↗ |
| 8-K | 2025-10-29 | 2025-10-29 | 0001097149-25-000075 ↗ |
| 8-K | 2025-09-18 | 2025-09-12 | 0001097149-25-000069 ↗ |
| 10-Q | 2025-08-06 | 2025-06-30 | 0001097149-25-000064 ↗ |