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Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Align Technology's retained earnings for the quarter that ended in Mar. 2026 was €2,204 Mil.
Align Technology's quarterly retained earnings
increased
from Sep. 2025 (€2,059 Mil) to Dec. 2025 (€2,104 Mil) and
increased
from Dec. 2025 (€2,104 Mil) to Mar. 2026 (€2,204 Mil).
Align Technology's annual retained earnings
increased
from Dec. 2023 (€2,244 Mil) to Dec. 2024 (€2,372 Mil) but then
declined
from Dec. 2024 (€2,372 Mil) to Dec. 2025 (€2,104 Mil).
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Align Technology Retained Earnings Historical Data
* Premium members only.
The historical data trend for Align Technology's Retained Earnings 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.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
Align Technology (XTER:AFW) has a Retained Earnings of €2,204 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Align Technology and its competitors.
Is Align Technology's Retained Earnings too high?
Align Technology's current Retained Earnings is €2,204 Mil. 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 Retained Earnings compare to SOLV and COO?
Align Technology's Retained Earnings of €2,204 Mil can be compared against companies in the Medical Devices & Instruments industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a Medical Devices & Instruments company?
A good Retained Earnings depends on the Medical Devices & Instruments industry context. However, Retained Earnings 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 Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Align Technology and its competitors. Align Technology's current Retained Earnings is €2,204 Mil. 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 €221.81, compared to a current price of €163.15 — trading 26.4% below its estimated fair value. The current Retained Earnings is €2,204 Mil. 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 Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Align Technology (XTER:AFW), the current Retained Earnings is €2,204 Mil 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 €163.15 is trading 26.4% below its estimated GF Value™ of €221.81.
GuruFocus considers Align Technology to be Modestly Undervalued.
Key valuation signals for XTER:AFW:
Retained Earnings: €2,204 Mil
GF Value™: €221.81 vs. price of €163.15 (26.4% 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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Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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