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Align Technology vs Avanos Medical: revenue, profit, margins and growth compared

Align Technology brought in $4B of revenue in fiscal 2025, Avanos Medical $701.2M in fiscal 2025. Revenue changed by +0.9% at Align Technology and +1.9% at Avanos Medical on the year before, so Avanos Medical grew faster. Align Technology kept 10.2% of its revenue as net profit, Avanos Medical -10.4%. Free cash flow was $490.8M at Align Technology and $43.1M at Avanos Medical.

Side by side, latest fiscal year

ALGNAVNS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4B$701.2M
Revenue growth+0.9%+1.9%
Net income$410.4M-$72.9M
Net margin10.2%-10.4%
Free cash flow$490.8M$43.1M
Free cash flow margin12.2%6.1%
Earnings per share (diluted)$5.65-$1.57
Cash$1.1B$89.8M
Debtn/a$90.3M
Price to earnings26.0n/a
Market value$10.4Bn/a
Dividend yieldn/an/a
Rank by revenue in sector#72 of 646 · Health care#175 of 646 · Health care

Over the years

Revenue
ALGN FY2018: $2BALGN FY2019: $2.4BALGN FY2020: $2.5BALGN FY2021: $4BALGN FY2022: $3.7BALGN FY2023: $3.9BALGN FY2024: $4BALGN FY2025: $4BAVNS FY2018: $652.3MAVNS FY2019: $697.6MAVNS FY2020: $714.8MAVNS FY2021: $587MAVNS FY2022: $684.1MAVNS FY2023: $673.3MAVNS FY2024: $687.8MAVNS FY2025: $701.2MFY18FY19FY20FY21FY22FY23FY24FY25
ALGN $4BAVNS $701.2M
Net income
ALGN FY2018: $400.2MALGN FY2019: $442.8MALGN FY2020: $1.8BALGN FY2021: $772MALGN FY2022: $361.6MALGN FY2023: $445.1MALGN FY2024: $421.4MALGN FY2025: $410.4MAVNS FY2018: $57.5MAVNS FY2019: -$45.9MAVNS FY2020: -$29MAVNS FY2021: $6.3MAVNS FY2022: $50.5MAVNS FY2023: -$61.8MAVNS FY2024: -$392.1MAVNS FY2025: -$72.9MFY18FY19FY20FY21FY22FY23FY24FY25
ALGN $410.4MAVNS -$72.9M
Net margin
ALGN FY2018: 20.4%ALGN FY2019: 18.4%ALGN FY2020: 71.8%ALGN FY2021: 19.5%ALGN FY2022: 9.7%ALGN FY2023: 11.5%ALGN FY2024: 10.5%ALGN FY2025: 10.2%AVNS FY2018: 8.8%AVNS FY2019: -6.6%AVNS FY2020: -4.1%AVNS FY2021: 1.1%AVNS FY2022: 7.4%AVNS FY2023: -9.2%AVNS FY2024: -57.0%AVNS FY2025: -10.4%FY18FY19FY20FY21FY22FY23FY24FY25
ALGN 10.2%AVNS -10.4%
Revenue growth
ALGN FY2019: +22.4%ALGN FY2020: +2.7%ALGN FY2021: +59.9%ALGN FY2022: -5.5%ALGN FY2023: +3.4%ALGN FY2024: +3.5%ALGN FY2025: +0.9%AVNS FY2019: +6.9%AVNS FY2020: +2.5%AVNS FY2021: -17.9%AVNS FY2022: +16.5%AVNS FY2023: -1.6%AVNS FY2024: +2.2%AVNS FY2025: +1.9%FY19FY20FY21FY22FY23FY24FY25
ALGN +0.9%AVNS +1.9%
Free cash flow
ALGN FY2018: $331.4MALGN FY2019: $597.6MALGN FY2020: $507.3MALGN FY2021: $771.4MALGN FY2022: $276.8MALGN FY2023: $608.1MALGN FY2024: $622.7MALGN FY2025: $490.8MAVNS FY2018: -$194.7MAVNS FY2019: -$125.1MAVNS FY2020: -$22.7MAVNS FY2021: $66.3MAVNS FY2022: $71.6MAVNS FY2023: $14.6MAVNS FY2024: $82.9MAVNS FY2025: $43.1MFY18FY19FY20FY21FY22FY23FY24FY25
ALGN $490.8MAVNS $43.1M

Fiscal years as each company reports them; the two may end in different months.

Questions about Align Technology and Avanos Medical

Which is bigger by revenue, Align Technology or Avanos Medical?

Align Technology is bigger by revenue: $4B in fiscal 2025, against $701.2M for Avanos Medical in fiscal 2025.

Which keeps more of its revenue as profit, Align Technology or Avanos Medical?

Align Technology had a net margin of 10.2% in fiscal 2025; Avanos Medical had -10.4% in fiscal 2025.

Which grew revenue faster, Align Technology or Avanos Medical?

In their latest fiscal years revenue changed by +0.9% at Align Technology and +1.9% at Avanos Medical.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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