Align Technology vs Dentsply Sirona
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KIRA’s take AI analyst
I put Align Technology and Dentsply Sirona side by side, using each one’s latest annual report. Here is what stands out:
- Align Technology is the larger business, with $4.0B of revenue in fiscal 2025 against $3.7B for Dentsply Sirona.
- Align Technology grew revenue faster (0.9%, against −3.0%).
- Align Technology kept more of each dollar of sales as operating profit (13.5% operating margin, against −11.5%).
- Align Technology turned more of its sales into free cash flow (12.2% FCF margin, against 2.8%).
- Align Technology earned a higher return on the capital invested in it (13.3%, against −9.9%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Align Technology
ALGN
9/10
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityShare count change
Dentsply Sirona
XRAY
1/10
Piotroski F-score
Side by side
Best in the row
| Latest fiscal year | ALGN FY25 | XRAY FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.9B | $1.8B |
| Revenue | $4.0B | $3.7B |
| Free cash flow | $491M | $104M |
| Net income | $410M | −$598M |
| Growth | ||
| Revenue growth | 0.9% | −3.0% |
| 5-year growth | 10.3% | 2.0% |
| Share count change | −3.2% | −1.9% |
| Profitability | ||
| Gross margin | 67.2% | 50.0% |
| Operating margin | 13.5% | −11.5% |
| Net margin | 10.2% | −16.3% |
| FCF margin | 12.2% | 2.8% |
| Return on capital | 13.3% | −9.9% |
| Return on equity | 10.4% | −36.5% |
| Balance sheet | ||
| Net debt | −$1.1B | $2.0B |
| Net debt / EBITDA | −1.4x | — |
| Dividends and buybacks | $466M | $128M |
| Valuation & quality | ||
| P/E | 26.5x | — |
| Piotroski F-score | 5 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.

