Medical - Devices · NASDAQ
当前价格
$166.38
内在价值
使用下方计算器估算
对 Align Technology, Inc. 运行完整的 DCF 分析，自动填充基本面数据，可调节假设参数，含敏感性热力图。
Align Technology, Inc., a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign comprehensive treatment that addresses the orthodontic needs of teenage patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of seven and ten years, which is a mixture of primary/baby and permanent teeth. This segment's non-comprehensive products comprise Invisalign moderate, lite and express packages, and Invisalign go; and non-case products include retention products, Invisalign training fees, and sales of ancillary products, such as cleaning material, and adjusting tools used by dental professionals during the course of treatment. The Scanners and Services segment offers iTero scanner, a single hardware platform with software options for restorative or orthodontic procedures; restorative software for general practitioner dentists, prosthodontists, periodontists, and oral surgeons; and software for orthodontists for digital records storage, orthodontic diagnosis, and for the fabrication of printed models and retainers. This segment also provides computer-aided design and computer-aided manufacturing services; ancillary products, such as disposable sleeves for the wand; iTero model and dies; third party scanners and digital scans; Invisalign outcome simulator, a chair-side and cloud-based application for the iTero scanner; Invisalign progress assessment tool; and TimeLapse technology, which allows doctors or practitioners to compare a patient's historic 3D scans to the present-day scan. The company sells its products in the United States, Switzerland, China, and internationally. Align Technology, Inc. was incorporated in 1997 and is headquartered in Tempe, Arizona.
ROIC (TTM)
8.9%
ROE (TTM)
10.4%
FCF Yield
4.97%
基于过去 12 个月的数据，ALGN 每股自由现金流为 N/A，投入资本回报率（ROIC）为 8.9%，这些是使用 DCF 方法进行股票估值的关键输入。P/FCF 比率为 N/A，FCF 收益率为 4.97%，是评估 ALGN 相对估值的重要参考指标。
ALGN 的内在价值取决于未来增长率、折现率（WACC）和终值假设。DCF 模型将预期自由现金流折现回现值——WACC 的小幅变化可能导致估算偏移 20% 以上，因此敏感性分析至关重要。
ALGN 是否被低估取决于 DCF 内在价值与当前市价 $166.38 的比较。正的安全边际（内在价值高于市价）暗示潜在低估，但置信度取决于增长率和折现率假设的可靠性。
对 Align Technology, Inc. 进行 DCF 估值的步骤：(1) 以过去 12 个月每股自由现金流为基础，(2) 根据Medical - Devices行业趋势和公司基本面预测未来 5-10 年的 FCF 增长，(3) 选择反映 ALGN 风险的折现率（WACC），(4) 加上预测期之后的终值。
DCF（折现现金流）根据公司未来的现金产生能力估算其当前价值。对于 Align Technology, Inc.，这意味着预测Medical - Devices在未来 5-10 年能产生多少自由现金流，再折现到今天的价值。ALGN 的 ROIC 为 8.9%，显示中等水平的资本回报。
WACC（加权平均资本成本）是 DCF 模型中的折现率——反映投资者要求的最低回报。对于 ALGN，资本结构和股权风险溢价决定了 WACC。WACC 每提高 1%，内在价值通常下降 10-15%。
