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ALIGN TECHNOLOGY INC (ALGN)
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| Operating Efficiency |
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Annual |
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| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| | Source | Source | Source | Source | Source | Source | Source | Source |
| Turnover Ratios |
| Inventory turnover | 5.5 | 5.6 | 7.9 | 11.9 | 12.1 | 11.4 | 11.6 | 12.3 |
| Asset turnover | 0.7 | 0.7 | 1.1 | 1.0 | 0.9 | 0.8 | 0.8 | 0.8 |
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| Returns on Capital |
| ROIC (excluding intangibles) | 33.4% | 123.1% | 50.8% | 55.1% | 32.4% | 30.7% | 24.3% | 33.0% |
| ROIC (including intangibles) | 25.0% | 70.0% | 40.9% | 54.1% | 26.5% | 29.2% | 20.1% | 24.9% |
| ROE | 20.6% | 56.1% | 30.6% | 32.6% | 19.7% | 19.7% | 17.2% | 19.7% |
| ROA | 12.5% | 37.6% | 16.5% | 19.9% | 12.7% | 14.1% | 12.6% | 15.0% |
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| Cash Conversion Cycle |
| Days sales outstanding | 82.9 | 97.1 | 83.5 | 81.5 | 80.3 | 83.6 | 68.4 | 62.2 |
| Days payables outstanding | 58.8 | 73.2 | 48.0 | 45.2 | 37.7 | 39.4 | 61.1 | 46.3 |
| Days inventory outstanding | 82.6 | 71.7 | 61.7 | 39.2 | 32.4 | 37.4 | 34.6 | 31.7 |
| Cash conversion cycle | 106.7 | 95.6 | 97.1 | 75.4 | 75.1 | 81.6 | 42.0 | 47.6 |
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