Align Technology (ALGN) FY2016 results: revenue $1.1 billion, up 27.7% on the year
Align Technology Inc. (ALGN) reported revenue of $1.1 billion for fiscal 2016, the year ended 31 December 2016, up 27.7% on the year before. Net income was $190 million, up 31.7%, and diluted earnings per share $2.33. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$1.1 billion
+27.7% on the year
FY2009FY2016
Operating margin
23.1%
22.3% a year earlier
FY2009FY2016
Net income
$190 million
+31.7% on the year
FY2009FY2016
Diluted EPS
$2.33
+31.6% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
1,080
845
762
+27.7%
Cost of revenue
265
205
183
+28.8%
Gross profit
815
640
578
+27.4%
Gross margin
75.5%
75.7%
75.9%
Research and development
75.7
61.2
52.8
+23.7%
Selling, general and administrative
n/a
390
332
Operating income
249
189
194
+32.0%
Operating margin
23.1%
22.3%
25.4%
Pre-tax income
243
186
190
+30.3%
Income tax
51.2
42.1
44.5
+21.7%
Effective tax rate
21.1%
22.6%
23.4%
Net income
190
144
146
+31.7%
Net margin
17.6%
17.0%
19.1%
Diluted EPS
$2.33
$1.77
$1.77
+31.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
248
238
227
+4.1%
Capital expenditure
70.6
53.5
24.1
+32.0%
Free cash flow
177
185
203
-4.0%
Free cash flow margin
16.4%
21.8%
26.6%
Cash from investing
73.0
-166
-202
Cash from financing
-95.5
-101
-66.4
Depreciation and amortisation
24.0
18.0
17.9
+33.3%
Share-based compensation
54.1
52.9
39.8
+2.3%
Buybacks
96.2
102
98.2
-5.5%
Diluted shares, weighted
81m
82m
82m
-0.0%
Shares outstanding at period end
80m
80m
80m
+0.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
999
848
753
+17.9%
Debt
0.0
0.0
0.0
Other liabilities
397
311
235
+27.7%
Total liabilities and equity
1,396
1,159
988
+20.5%
Fixed assets
175
136
90.1
+28.4%
Goodwill
61.0
61.1
61.4
-0.0%
Intangible assets
21.0
18.1
20.7
+15.8%
Investments
311
511
403
-39.2%
Cash and equivalents
389
168
200
+132.1%
Receivables
247
159
130
+56.0%
Inventory
27.1
19.5
15.9
+39.4%
Other assets
164
86.3
67.6
+90.5%
Total assets
1,396
1,159
988
+20.5%
10-K for the year ended 31 December 2016, filed 28 February 2019: the filing.