ALIGN TECHNOLOGY INC（ALGN）の決算・業績分析
ALIGN TECHNOLOGY INCの2025年有価証券報告書をAI分析。売上高$4.0B(+0.9%)。営業利益$546M。Health Care。
目次
ALIGN TECHNOLOGY INCの2025年度 業績サマリー
ALIGN TECHNOLOGY INC（証券コード: ALGN）の2025年度決算・業績分析。売上高は$4.0B（前年比+0.9%）。営業利益は$546M（前年比-10.2%）。純利益は$410M（前年比-2.6%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
ALIGN TECHNOLOGY INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue declined 5.5% YoY to $3.7B (XBRL), with net income dropping 53.2% YoY to $362M (XBRL).
- Share repurchases totaled $435M (XBRL), reflecting strong cash returns to shareholders despite declining profitability.
- Cash reserves reached $937M (XBRL), supporting liquidity despite a 34.2% YoY decline in operating income (XBRL).
ALIGN TECHNOLOGY INCの売上高変化の要因
- •Revenue fell to $3.7B in FY2024 (-5.5% YoY, XBRL), following a peak of $4.0B in FY2023. The 5-year CAGR for revenue is +14.5% (XBRL), but recent performance shows a reversal. No segment-specific revenue data is available (N/A). The company's product portfolio spans clear aligners, retainers, imaging systems, and CAD/CAM software, with no significant customer concentration (10-K).
ALIGN TECHNOLOGY INCの営業利益変化の要因
- •Gross margin remained robust at 70.5% (XBRL), but net margin fell to 9.7% (-53.2% YoY, XBRL). Operating income declined 34.2% YoY to $643M (XBRL), while EBITDA held steady at $768M (+20.6% YoY, XBRL). ROE and ROA decreased to 10.0% and 5.9% respectively (XBRL), reflecting weaker net income despite stable asset turnover (0.61x, XBRL).
ALIGN TECHNOLOGY INCの事業リスクと対応
Macroeconomic risks: Inflation and economic downturns could reduce demand for orthodontic products (10-K).
Foreign currency fluctuations: Exchange rate volatility impacts international revenues and expenses (10-K).
Geopolitical and trade risks: Tariffs, wars, and public health crises may disrupt supply chains (10-K).
Reliance on third-party manufacturing: Dependence on suppliers for production and distribution (10-K).
Regulatory and product liability risks: Compliance with evolving dental standards and potential liability claims (10-K).
ALIGN TECHNOLOGY INCの事業内容
Align Technology Inc (ALGN) designs, manufactures, and markets orthodontic and dental solutions, including Invisalign clear aligners, Vivera retainers, iTero intraoral scanners, and exocad CAD/CAM software (10-K). The company generates revenue through direct sales to orthodontists, general dentists, dental labs, and distributors, as well as online and retail channels for accessories (10-K). Key competitive advantages include proprietary technologies (Invisalign, iTero, exocad), integrated workflows, and digital innovation leadership in orthodontic and restorative dentistry (10-K).
ALIGN TECHNOLOGY INCのAI業績分析レポート（2024年度）
Align Technology Inc (ALGN) FY2024 Annual Report Analysis
Highlights
Business Overview
Align Technology Inc designs, manufactures, and markets orthodontic and dental solutions, including Invisalign clear aligners, Vivera retainers, iTero intraoral scanners, and exocad CAD/CAM software (10-K). The company generates revenue through direct sales to orthodontists, general dentists, dental labs, and distributors, as well as online and retail channels for accessories (10-K). Key competitive advantages include proprietary technologies (Invisalign, iTero, exocad), integrated workflows, and digital innovation leadership in orthodontic and restorative dentistry (10-K).
Revenue Analysis
Revenue fell to $3.7B in FY2024 (-5.5% YoY, XBRL), following a peak of $4.0B in FY2023. The 5-year CAGR for revenue is +14.5% (XBRL), but recent performance shows a reversal. No segment-specific revenue data is available (N/A). The company's product portfolio spans clear aligners, retainers, imaging systems, and CAD/CAM software, with no significant customer concentration (10-K).
Profitability Analysis
Gross margin remained robust at 70.5% (XBRL), but net margin fell to 9.7% (-53.2% YoY, XBRL). Operating income declined 34.2% YoY to $643M (XBRL), while EBITDA held steady at $768M (+20.6% YoY, XBRL). ROE and ROA decreased to 10.0% and 5.9% respectively (XBRL), reflecting weaker net income despite stable asset turnover (0.61x, XBRL).
Balance Sheet Analysis
Equity ratio rose to 59.5% (XBRL), with total equity reaching $3.6B (XBRL). Debt-to-equity ratio remained low at 0.68x (XBRL). Current ratio of 1.18x (XBRL) indicates moderate liquidity, supported by $937M in cash (XBRL). No long-term debt details or geographic revenue breakdowns are available (N/A).
Cash Flow Analysis
Operating cash flow totaled $569M (XBRL), with free cash flow of $277M (XBRL) after $292M in CapEx (XBRL). Financing activities included $435M in share repurchases (XBRL), offsetting $502M in net cash outflows (XBRL).
Working Capital Analysis
Cash conversion cycle (CCC) lengthened to 149 days (XBRL), driven by 88 days receivables, 98 days inventory, and 38 days payables (XBRL).
Risks
Outlook
N/A
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