ALGN vs. FMS: Align vs. Fresenius Medical Care Stock Comparison

November 11, 2026

How do Align (ALGN) and Fresenius Medical Care (FMS) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Align (ALGN) and Fresenius Medical Care (FMS) both fall under the Health Care Equipment & Services industry group, but ALGN is classified in Health Care Equipment & Supplies while FMS is classified in Health Care Providers & Services.

Align (ALGN) trades as ordinary local shares, while Fresenius Medical Care (FMS) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Align (ALGN) and Fresenius Medical Care (FMS)
Profile Item	ALGN	FMS
Name	Align Technology Inc.	Fresenius Medical Care AG - Depositary Receipt
Country/Region	United States	Germany
GICS Sector	Health Care	Health Care
GICS Industry Group	Health Care Equipment & Services	Health Care Equipment & Services
GICS Industry	Health Care Equipment & Supplies	Health Care Providers & Services
GICS Sub-Industry	Health Care Supplies	Health Care Services
Market Capitalization	11.70 billion USD	12.15 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	January 30, 2001	September 17, 1996
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

ALGN

FMS

GSPC

Align (ALGN) vs. Fresenius Medical Care (FMS), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Align (ALGN) and Fresenius Medical Care (FMS). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Align (ALGN) and Fresenius Medical Care (FMS). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Align (ALGN) and Fresenius Medical Care (FMS)
Metric	ALGN	FMS
Total Return (1Y)	27.43%	-0.71%
Total Return (3Y, Annualized)	-2.84%	13.88%
Total Return (5Y, Annualized)	-24.73%	-4.69%

Risk Profile

Drawdown History

ALGN

FMS

GSPC

Align (ALGN) vs. Fresenius Medical Care (FMS), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Align (ALGN) and Fresenius Medical Care (FMS). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Align (ALGN) and Fresenius Medical Care (FMS)
Metric	ALGN	FMS
Volatility (1Y, Annualized)	40.49%	30.61%
Beta (5Y)	1.67	0.77
Max Drawdown (5Y)	-82.44%	-62.33%
Avg. Volume (3M)	942.14K	954.21K

Risk-Adjusted Performance

Risk-Return Positioning

ALGN and FMS are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Align (ALGN) and Fresenius Medical Care (FMS)
Metric	ALGN	FMS
Sharpe Ratio (1Y)	0.57	-0.16
Sortino Ratio (1Y)	0.89	-0.21

Profitability

ROE (TTM)

Both Align (ALGN) at 11.91% and Fresenius Medical Care (FMS) at 7.84% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

ALGN

Health Care Equipment & Services industry group

11.91%

Max: 47.61%
Q3: 14.36%
ALGN: 11.91%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

FMS

Health Care Equipment & Services industry group

7.84%

Max: 47.61%
Q3: 14.36%
FMS: 7.84%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

Align (ALGN) vs. Fresenius Medical Care (FMS): A comparison of their ROE against the Health Care Equipment & Services industry group benchmark.

Net Margin (TTM)

Align (ALGN) at 11.83% retains a top-quartile share of revenue as profit, ahead of Fresenius Medical Care (FMS) at 4.22%, which keeps about the industry-typical share.

ALGN

Health Care Equipment & Services industry group

11.83%

Max: 29.35%
ALGN: 11.83%
Q3: 9.33%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

FMS

Health Care Equipment & Services industry group

4.22%

Max: 29.35%
Q3: 9.33%
FMS: 4.22%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

Align (ALGN) vs. Fresenius Medical Care (FMS): A comparison of their net margin against the Health Care Equipment & Services industry group benchmark.

Operating Margin (TTM)

Align (ALGN) at 20.13% operates in the top operating margin quartile, ahead of Fresenius Medical Care (FMS) at 9.63%, which runs around its industry’s norm.

ALGN

Health Care Equipment & Services industry group

20.13%

Max: 35.43%
ALGN: 20.13%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

FMS

Health Care Equipment & Services industry group

9.63%

Max: 35.43%
Q3: 14.14%
FMS: 9.63%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

Align (ALGN) vs. Fresenius Medical Care (FMS): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Align (ALGN) and Fresenius Medical Care (FMS)
Metric	ALGN	FMS
ROE (TTM)	11.91%	7.84%
ROA (TTM)	8.01%	3.94%
Net Margin (TTM)	11.83%	4.22%
Operating Margin (TTM)	20.13%	9.63%
Gross Margin (TTM)	71.53%	26.46%

Growth

Revenue Growth

Both Align (ALGN) at 0.90% and Fresenius Medical Care (FMS) at 1.51% post bottom-quartile revenue growth versus peers, pointing to weaker demand or pricing momentum than typical rivals.

Align (ALGN) vs. Fresenius Medical Care (FMS): A comparison of their Revenue Growth across different time periods.

EPS Growth

Fresenius Medical Care (FMS) at 83.61% sits in the top EPS growth quartile, while Align (ALGN) at 0.53% is closer to the peer norm — faster per-share earnings growth for FMS.

Align (ALGN) vs. Fresenius Medical Care (FMS): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Align (ALGN) and Fresenius Medical Care (FMS)
Metric	ALGN	FMS
Revenue Growth (YoY)	0.90%	1.51%
Revenue Growth (3Y CAGR)	2.61%	0.39%
EPS Growth (YoY)	0.53%	83.61%
EPS Growth (3Y CAGR)	7.02%	13.47%

Financial Strength

Current Ratio (MRQ)

Align (ALGN) at 1.43 keeps current ratio within its industry’s typical mid-range, while Fresenius Medical Care (FMS) at 0.99 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for FMS.

ALGN

Health Care Equipment & Services industry group

1.43

Max: 7.59
Q3: 4.00
Median: 1.98
ALGN: 1.43
Q1: 1.37
Min: 0.30

FMS

Health Care Equipment & Services industry group

0.99

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
FMS: 0.99
Min: 0.30

Align (ALGN) vs. Fresenius Medical Care (FMS): A comparison of their current ratio against the Health Care Equipment & Services industry group benchmark.

Debt / Equity (MRQ)

Align (ALGN) at 0.03 keeps leverage in the lower industry quartile, while Fresenius Medical Care (FMS) at 0.79 runs a more typical debt-to-equity mix.

ALGN

Health Care Equipment & Services industry group

0.03

Max: 1.88
Q3: 0.91
Median: 0.58
Q1: 0.16
ALGN: 0.03
Min: 0.00

FMS

Health Care Equipment & Services industry group

0.79

Max: 1.88
Q3: 0.91
FMS: 0.79
Median: 0.58
Q1: 0.16
Min: 0.00

Align (ALGN) vs. Fresenius Medical Care (FMS): A comparison of their debt-to-equity ratio against the Health Care Equipment & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Align (ALGN) and Fresenius Medical Care (FMS)
Metric	ALGN	FMS
Current Ratio (MRQ)	1.43	0.99
Debt / Equity (MRQ)	0.03	0.79
Net Debt / EBITDA	-1.04	3.63

Dividends

Dividend Yield (TTM)

Align (ALGN) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Fresenius Medical Care (FMS) reports a yield of 6.30%, ranking against industry peers normally.

ALGN

Health Care Equipment & Services industry group

0.00%

ALGN: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

FMS

Health Care Equipment & Services industry group

6.30%

FMS: 6.30%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Align (ALGN) vs. Fresenius Medical Care (FMS): A comparison of their dividend yield against the Health Care Equipment & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Align (ALGN) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Fresenius Medical Care (FMS) reports a payout of 50.14%, ranking against industry peers normally.

ALGN

Health Care Equipment & Services industry group

0.00%

ALGN: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

FMS

Health Care Equipment & Services industry group

50.14%

FMS: 50.14%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Align (ALGN) vs. Fresenius Medical Care (FMS): A comparison of their payout ratio against the Health Care Equipment & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Align (ALGN) and Fresenius Medical Care (FMS)
Metric	ALGN	FMS
Dividend Yield (TTM)	0.00%	6.30%
Dividend Payout Ratio (TTM)	0.00%	50.14%

Valuation

P/E Ratio (TTM)

Fresenius Medical Care (FMS) at 13.53 sits in the cheaper P/E ratio quartile, while Align (ALGN) at 24.20 is closer to its industry’s usual earnings multiple — a discount for FMS, though growth and earnings durability still matter.

ALGN

Health Care Equipment & Services industry group

24.20

Max: 80.41
Q3: 47.62
Median: 29.93
ALGN: 24.20
Q1: 21.19
Min: 4.21

FMS

Health Care Equipment & Services industry group

13.53

Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
FMS: 13.53
Min: 4.21

Align (ALGN) vs. Fresenius Medical Care (FMS): A comparison of their P/E ratio against the Health Care Equipment & Services industry group benchmark.

P/S Ratio (TTM)

Fresenius Medical Care (FMS) at 0.62 sits in the cheaper P/S ratio quartile while Align (ALGN) at 2.81 prices around its industry’s middle — FMS costs less per dollar of sales, though read it alongside growth and margins.

ALGN

Health Care Equipment & Services industry group

2.81

Max: 8.80
Q3: 4.32
ALGN: 2.81
Median: 2.13
Q1: 1.10
Min: 0.03

FMS

Health Care Equipment & Services industry group

0.62

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
FMS: 0.62
Min: 0.03

Align (ALGN) vs. Fresenius Medical Care (FMS): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

Fresenius Medical Care (FMS) at 0.85 sits in the lower P/B ratio quartile against book while Align (ALGN) at 2.73 is valued near its industry’s middle — FMS is cheaper on assets, though weigh it against ROE and asset quality.

ALGN

Health Care Equipment & Services industry group

2.73

Max: 11.68
Q3: 6.12
Median: 3.00
ALGN: 2.73
Q1: 1.73
Min: -1.31

FMS

Health Care Equipment & Services industry group

0.85

Max: 11.68
Q3: 6.12
Median: 3.00
Q1: 1.73
FMS: 0.85
Min: -1.31

Align (ALGN) vs. Fresenius Medical Care (FMS): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Align (ALGN) and Fresenius Medical Care (FMS)
Metric	ALGN	FMS
P/E Ratio (TTM)	24.20	13.53
P/S Ratio (TTM)	2.81	0.62
P/B Ratio (MRQ)	2.73	0.85
Free Cash Flow Yield (TTM)	4.90%	12.29%