Align Technology Inc (ALGN)

Debt-to-capital ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	3,851,980	3,944,350	3,757,910	3,759,860	3,630,490	3,801,870	3,638,300	3,480,050	3,601,360	3,694,620	3,599,080	3,666,850	3,622,710	3,516,760	3,384,410	3,393,580	3,233,860	3,033,470	2,845,040	2,852,990
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $3,851,980K)
= 0.00

The debt-to-capital ratio for Align Technology Inc has consistently been 0.00 across all reported quarters from March 31, 2020, to December 31, 2024. This indicates that the company has not utilized any debt to finance its operations or growth and relies solely on its capital structure for funding. A debt-to-capital ratio of 0.00 reflects a conservative financial position, where the company does not have any debt obligations in relation to its total capital. While having no debt can signify financial stability and low financial risk, it may also imply missed opportunities for leveraging debt to potentially enhance returns or fund growth initiatives. Investors may view a low or zero debt-to-capital ratio positively as it indicates the company's ability to operate without relying on borrowed funds.