Align TechnologyXTER:AFW 89 Net Current Asset Value is €5.93 as of Mar. 2026, which is 100% below its 10-year median of 53.33. GuruFocus rates XTER:AFW with a GF Score™ of 89/100 and a GF Value™ of €193.83 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 568 Medical Devices & Instruments companies, Align Technology ranks worse than 90.49% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Align Technology's net current asset value per share for the quarter that ended in Mar. 2026 was €5.93.
The historical rank and industry rank for Align Technology's Net Current Asset Value or its related term are showing as below:
XTER:AFW'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 13.29 Med: 53.33 Max: 1508.94
Current: 26.95
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Align Technology was 1508.94. The lowest was 13.29. And the median was 53.33.
XTER:AFW's Price-to-Net-Current-Asset-Value is ranked worse than 90.49% of 568
companies
in the Medical Devices & Instruments industry
Industry Median: 5.1
vs XTER:AFW: 26.95
Align Technology (XTER:AFW) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Align Technology Net Current Asset Value Related Terms
Align Technology Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Align Technology's Net Current Asset Value 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 SOLV, COO, BAX: Net Current Asset Value Comparison
For the Medical Instruments & Supplies subindustry, Align Technology's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value 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 Price-to-Net-Current-Asset-Value vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Align Technology's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Align Technology's Price-to-Net-Current-Asset-Value 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.
What does a Net Current Asset Value of €5.93 mean?
Align Technology (XTER:AFW) has a Net Current Asset Value of €5.93 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Align Technology and its competitors. This is 89% below median its historical median of 53.33. Over the past decade, Align Technology's Net Current Asset Value has ranged from 13.29 to 1,508.94. According to the industry distribution chart, Align Technology ranks #514 out of 568 companies in the Medical Devices & Instruments industry, placing it in the top 90.5%.
Is Align Technology's Net Current Asset Value too high?
Align Technology's current Net Current Asset Value of €5.93 is 89% below median its 10-year median of 53.33. Over the past 10 years, this metric has ranged from a low of 13.29 to a high of 1,508.94. Based on the distribution chart, Align Technology ranks #514 out of 568 companies in the Medical Devices & Instruments industry, which is in the bottom quartile 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 Net Current Asset Value compare to SOLV and COO?
According to the Medical Devices & Instruments industry distribution chart, Align Technology ranks #514 out of 568 companies for Net Current Asset Value. This places Align Technology in the lower half of its industry. The industry median Net Current Asset Value is 5.10. Historically, Align Technology's own Net Current Asset Value has ranged from 13.29 to 1,508.94 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for a Medical Devices & Instruments company?
The median Net Current Asset Value among Medical Devices & Instruments companies is 5.10, based on 568 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Align Technology and its competitors. For the Medical Devices & Instruments industry, the median Net Current Asset Value is 5.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Align Technology's current Net Current Asset Value is €5.93, which is 89% below median its own 10-year median of 53.33. 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 €193.83, compared to a current price of €160.85 — trading 17% below its estimated fair value. The current Net Current Asset Value is €5.93, which is 89% below median its 10-year median of 53.33. Align Technology's overall GF Score™ is 89/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Align Technology (XTER:AFW), the current Net Current Asset Value is €5.93 as of Mar. 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 €160.85 is trading 17% below its estimated GF Value™ of €193.83.
GuruFocus considers Align Technology to be Modestly Undervalued.
Key valuation signals for XTER:AFW:
Net Current Asset Value: €5.93 (89% below median its 10-year median of 53.33)
GF Value™: €193.83 vs. price of €160.85 (17% below fair value)
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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