Align Technology (ALGN) FY2017 results: revenue $1.5 billion, up 36.4% on the year
Align Technology Inc. (ALGN) reported revenue of $1.5 billion for fiscal 2017, the year ended 31 December 2017, up 36.4% on the year before. Net income was $231 million, up 22.0%, and diluted earnings per share $2.83. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$1.5 billion
+36.4% on the year
FY2010FY2017
Operating margin
24.0%
23.1% a year earlier
FY2010FY2017
Net income
$231 million
+22.0% on the year
FY2010FY2017
Diluted EPS
$2.83
+21.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,473
1,080
845
+36.4%
Cost of revenue
356
265
205
+34.7%
Gross profit
1,117
815
640
+37.0%
Gross margin
75.8%
75.5%
75.7%
Research and development
97.6
75.7
61.2
+28.8%
Selling, general and administrative
n/a
n/a
390
Operating income
354
249
189
+42.1%
Operating margin
24.0%
23.1%
22.3%
Pre-tax income
365
243
186
+50.4%
Income tax
130
51.2
42.1
+154.2%
Effective tax rate
35.7%
21.1%
22.6%
Net income
231
190
144
+22.0%
Net margin
15.7%
17.6%
17.0%
Diluted EPS
$2.83
$2.33
$1.77
+21.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
439
248
238
+77.1%
Capital expenditure
196
70.6
53.5
+177.3%
Free cash flow
243
177
185
+37.1%
Free cash flow margin
16.5%
16.4%
21.8%
Cash from investing
-251
73.0
-166
Cash from financing
-136
-95.5
-101
Depreciation and amortisation
37.7
24.0
18.0
+57.2%
Share-based compensation
58.9
54.1
52.9
+8.7%
Buybacks
104
96.2
102
+7.9%
Diluted shares, weighted
82m
81m
82m
+0.4%
Shares outstanding at period end
80m
80m
80m
+0.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,154
999
848
+15.5%
Debt
0.0
0.0
0.0
Other liabilities
630
397
311
+58.7%
Total liabilities and equity
1,784
1,396
1,159
+27.8%
Fixed assets
349
175
136
+99.1%
Goodwill
64.6
61.0
61.1
+5.8%
Intangible assets
24.5
21.0
18.1
+16.7%
Investments
312
311
511
+0.4%
Cash and equivalents
450
389
168
+15.5%
Receivables
324
247
159
+31.0%
Inventory
31.7
27.1
19.5
+16.8%
Other assets
229
164
86.3
+39.2%
Total assets
1,784
1,396
1,159
+27.8%
10-K for the year ended 31 December 2017, filed 28 February 2019: the filing.