Align Technology Inc (ALGN)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	643,338	584,454	561,764	578,029	642,595	750,826	868,330	949,036	976,400	968,692	884,601	542,699	387,171	325,137	275,220	524,710	542,493	511,816	509,872	456,073
Total assets	US$ in thousands	6,083,880	6,318,550	6,144,550	5,901,450	5,947,950	5,912,800	5,810,120	5,943,410	5,942,110	5,650,110	5,395,570	5,069,780	4,829,680	4,415,090	4,025,860	3,964,840	2,500,700	2,350,380	2,346,020	2,234,430
Operating ROA		10.57%	9.25%	9.14%	9.79%	10.80%	12.70%	14.95%	15.97%	16.43%	17.14%	16.39%	10.70%	8.02%	7.36%	6.84%	13.23%	21.69%	21.78%	21.73%	20.41%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $643,338K ÷ $6,083,880K
= 10.57%

Align Technology, Inc.'s operating return on assets (operating ROA) has shown a declining trend over the past four quarters. In Q4 2023, the operating ROA was 10.79%, down from 11.00% in Q4 2022. This indicates that the company's ability to generate profit from its assets has slightly decreased.

Overall, Align Technology's operating ROA has gradually decreased from 15.97% in Q1 2022 to 10.79% in Q4 2023. This decline may suggest lower profitability relative to the company's asset base over time. It is important for investors and stakeholders to monitor this trend and understand the factors contributing to the decreasing operating ROA in order to assess the company's operational efficiency and profitability.