Align Technology (ALGN) FY2023 results: revenue $3.9 billion, up 3.4% on the year
Align Technology Inc. (ALGN) reported revenue of $3.9 billion for fiscal 2023, the year ended 31 December 2023, up 3.4% on the year before. Net income was $445 million, up 23.1%, and diluted earnings per share $5.81. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$3.9 billion
+3.4% on the year
FY2016FY2023
Operating margin
16.7%
17.2% a year earlier
FY2016FY2023
Net income
$445 million
+23.1% on the year
FY2016FY2023
Diluted EPS
$5.81
+26.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
786
569
1,173
+38.2%
Capital expenditure
178
292
401
-39.1%
Free cash flow
608
277
771
+119.6%
Free cash flow margin
15.7%
7.4%
19.5%
Cash from investing
-196
-213
-563
Cash from financing
-598
-502
-458
Depreciation and amortisation
142
126
109
+13.2%
Share-based compensation
154
133
114
+15.5%
Buybacks
592
435
375
+36.2%
Diluted shares, weighted
77m
78m
80m
-2.4%
Shares outstanding at period end
75m
77m
79m
-2.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,630
3,601
3,623
+0.8%
Debt
0.0
0.0
0.0
Operating lease liabilities
97.0
100
103
-3.4%
Other liabilities
2,356
2,246
2,217
+4.9%
Total liabilities and equity
6,084
5,948
5,942
+2.3%
Fixed assets
1,291
1,232
1,082
+4.8%
Goodwill
420
408
419
+2.9%
Intangible assets
82.1
95.7
110
-14.2%
Investments
43.3
99.5
197
-56.5%
Cash and equivalents
937
942
1,099
-0.5%
Receivables
903
860
897
+5.1%
Inventory
297
339
230
-12.4%
Other assets
2,110
1,973
1,908
+7.0%
Total assets
6,084
5,948
5,942
+2.3%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.