Align Technology (FRA:AFW) ROCE % : 15.19% (As of Sep. 2024)

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What is Align Technology ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Align Technology's annualized ROCE % for the quarter that ended in Sep. 2024 was 15.19%.

Align Technology ROCE % Historical Data

The historical data trend for Align Technology's ROCE % 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.

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Align Technology ROCE % Chart

Align Technology Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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36.00

14.95

26.85

16.79

16.10

Align Technology Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
ROCE %	Get a 7-Day Free Trial															16.28	17.81	15.15	17.36	15.19

Align Technology ROCE % Calculation

Align Technology's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	602.152	/	( ( (5614.862 - 1818.037)	+	(5578.915 - 1895.082) )	/ 2 )
	=	602.152	/	( (3796.825	+	3683.833)	/ 2 )
	=	602.152	/	3740.329
	=	16.10 %

Align Technology's ROCE % of for the quarter that ended in Sep. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	585.16	/	( ( (5721.083 - 1895.269)	+	(5735.743 - 1859.315) )	/ 2 )
	=	585.16	/	( ( 3825.814	+	3876.428 )	/ 2 )
	=	585.16	/	3851.121
	=	15.19 %

(1) Note: The EBIT data used here is four times the quarterly (Sep. 2024) EBIT data.

Align Technology (FRA:AFW) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

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Align Technology Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Align Technology Inc (FRA:AFW) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

ALGN:USA ALGN:Mexico 0HCK:UK AFW:Germany A1LG34:Brazil ALGN:Austria

Address

410 North Scottsdale Road, Suite 1300, Tempe, AZ, USA, 85288

Website

https://www.aligntech.com

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.

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