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Align TechnologyXTER:AFW -1.81%89 Debt-to-Equity is 0.02 as of Jun. 2026, which is 33% below its 10-year median of 0.03. GuruFocus rates XTER:AFW with a GF Score™ of 89/100 and a GF Value™ of €196.99 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 706 Medical Devices & Instruments companies, Align Technology ranks better than 92.07% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Align Technology's Debt-to-Equity or its related term are showing as below:
XTER:AFW'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.02 Med: 0.03 Max: 0.1
Current: 0.02
During the past 13 years, the highest Debt-to-Equity Ratio of Align Technology was 0.10. The lowest was 0.02. And the median was 0.03.
XTER:AFW's Debt-to-Equity is ranked better than 92.07% of 706
companies
in the Medical Devices & Instruments industry
Industry Median: 0.23
vs XTER:AFW: 0.02
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Align Technology Debt-to-Equity Related Terms
Align Technology Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Align Technology's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XTER:AFW vs BAX, SOLV, COO: Debt-to-Equity Comparison
For the Medical Instruments & Supplies subindustry, Align Technology's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Align Technology Debt-to-Equity vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Align Technology's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Align Technology's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Align Technology (XTER:AFW) has a Debt-to-Equity of 0.02 as of Jun. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Align Technology and its competitors. This is 33% below median its historical median of 0.03. Over the past decade, Align Technology's Debt-to-Equity has ranged from 0.02 to 0.10. According to the industry distribution chart, Align Technology ranks #56 out of 706 companies in the Medical Devices & Instruments industry, placing it in the top 7.9%.
Is Align Technology's Debt-to-Equity too high?
Align Technology's current Debt-to-Equity of 0.02 is 33% below median its 10-year median of 0.03. Over the past 10 years, this metric has ranged from a low of 0.02 to a high of 0.10. The Medical Devices & Instruments industry median Debt-to-Equity is 0.23. Align Technology's value of 0.02 is 91.3% below this industry median. Based on the distribution chart, Align Technology ranks #56 out of 706 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, Align Technology has a GF Score™ of 89/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Align Technology's Debt-to-Equity compare to BAX and SOLV?
According to the Medical Devices & Instruments industry distribution chart, Align Technology ranks #56 out of 706 companies for Debt-to-Equity. This places Align Technology in the top 8% of its industry — outperforming the majority of peers. The industry median Debt-to-Equity is 0.23. Align Technology's value of 0.02 is 91.3% below this benchmark. Historically, Align Technology's own Debt-to-Equity has ranged from 0.02 to 0.10 over the past decade. While the company's 10-year median is 0.03 vs. the industry median of 0.23, Align Technology has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Medical Devices & Instruments company?
The median Debt-to-Equity among Medical Devices & Instruments companies is 0.23, based on 706 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Align Technology's current Debt-to-Equity of 0.02 is 91.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Align Technology and its competitors. For the Medical Devices & Instruments industry, the median Debt-to-Equity is 0.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Align Technology's current Debt-to-Equity is 0.02, which is 33% below median its own 10-year median of 0.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Align Technology stock overvalued right now?
Based on GuruFocus' analysis, Align Technology (XTER:AFW) is currently considered Modestly Undervalued. The stock's GF Value™ is €196.99, compared to a current price of €148.95 — trading 24.4% below its estimated fair value. The current Debt-to-Equity is 0.02, which is 33% below median its 10-year median of 0.03 and 91.3% below the Medical Devices & Instruments industry median of 0.23. Align Technology's overall GF Score™ is 89/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Align Technology (XTER:AFW), the current Debt-to-Equity is 0.02 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Align Technology (XTER:AFW) Overvalued in 2026?
Based on GuruFocus' analysis, Align Technology stock appears to be undervalued.
The current stock price of €148.95 is trading 24.4% below its estimated GF Value™ of €196.99.
GuruFocus considers Align Technology to be Modestly Undervalued.
Key valuation signals for XTER:AFW:
Debt-to-Equity: 0.02 (33% below median its 10-year median of 0.03)
GF Value™: €196.99 vs. price of €148.95 (24.4% below fair value)
Industry Position: 91.3% below the Medical Devices & Instruments median (#56 of 706)
No single metric tells the full story. See the XTER:AFW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Align Technology is the leading manufacturer of clear aligners. Invisalign, its main product, was approved by the Food and Drug Administration in 1998 and has since dominated, controlling over 90% of the market. Invisalign can treat roughly 90% of all malocclusion cases (misaligned teeth), and there are over 230,000 Invisalign-trained dentists and orthodontists. In 2022, Invisalign treated over 2 million cases, or roughly 10% of all orthodontic cases for the year, and it has treated over 14 million patients since its launch. Align also sells intraoral scanners under the brand iTero, which captures digital impressions of patients' teeth and illustrates treatment plans. Over 85% of Invisalign cases are submitted by digital scans, and iTero scans make up over half of these scans.
89GF Score
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