Balance Sheet Intuitive Surgical, Inc.

Equities

ISRG

US46120E6023

Advanced Medical Equipment & Technology

Real-time Estimate Cboe BZX Other stock markets 04:53:59 14/03/26 am AEDT			5-day change	1st Jan Change
471.20 ^USD	-1.68%		-3.23%	-16.25%

11/03	The Market Is Looking Suspiciously Calm
11/03	Analyst recommendations: Crowdstrike, Nike, Oracle, Micron Technology, Occidental Petroleum…

648975478.iKPLuzNnFI7rj1Hd9H3KpbJjYruf_2qID7pknK5CyPM.8cS8in8dJ8Wh3h-uhDu55twBJYPSzTnuP8MqrM8RhKTj8vLQYSJV65P6Jg

Published financial data: INTUITIVE SURGICAL, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	5.71B	6.22B	7.12B	8.35B	10.06B
Total Revenues	5.71B	6.22B	7.12B	8.35B	10.06B
Cost of Goods Sold, Total	1.75B	2.03B	2.39B	2.72B	3.42B
Gross Profit	3.96B	4.2B	4.73B	5.63B	6.64B
Selling General & Admin Expenses, Total	1.47B	1.71B	1.96B	2.12B	2.38B
R&D Expenses	671M	879M	999M	1.15B	1.31B
Other Operating Expenses, Total	2.14B	2.59B	2.96B	3.26B	3.7B
Operating Income	1.82B	1.61B	1.77B	2.37B	2.95B
Interest And Investment Income	80.8M	106M	203M	337M	381M
Net Interest Expenses	80.8M	106M	203M	337M	381M
Currency Exchange Gains (Loss)	-900K	-27.3M	-3.7M	-2.7M	-13M
EBT, Excl. Unusual Items	1.9B	1.68B	1.97B	2.7B	3.31B
Gain (Loss) On Sale Of Investments	-10.6M	-49M	-7.3M	-9.3M	-2M
Legal Settlements	-	-28.1M	-	-21.2M	-
EBT, Incl. Unusual Items	1.89B	1.61B	1.96B	2.67B	3.31B
Income Tax Expense	162M	262M	142M	336M	435M
Earnings From Continuing Operations	1.73B	1.34B	1.82B	2.34B	2.88B
Net Income to Company	1.73B	1.34B	1.82B	2.34B	2.88B
Minority Interest	-23.5M	-22.1M	-19.3M	-14.9M	-20.6M
Net Income - (IS)	1.7B	1.32B	1.8B	2.32B	2.86B
Net Income to Common Incl Extra Items	1.7B	1.32B	1.8B	2.32B	2.86B
Net Income to Common Excl. Extra Items	1.7B	1.32B	1.8B	2.32B	2.86B
Per Share Items
Net EPS - Basic	4.79	3.72	5.12	6.54	8
Basic EPS - Continuing Operations	4.79	3.72	5.12	6.54	8
Basic Weighted Average Shares Outstanding	356M	356M	351M	355M	357M
Net EPS - Diluted	4.66	3.65	5.03	6.42	7.87
Diluted EPS - Continuing Operations	4.66	3.65	5.03	6.42	7.87
Diluted Weighted Average Shares Outstanding	366M	362M	357M	362M	363M
Normalized Basic EPS	3.27	2.9	3.44	4.72	5.74
Normalized Diluted EPS	3.18	2.85	3.38	4.63	5.65
American Depositary Receipts Ratio (ADR)	0.1	0.1	0.1	0.1	0.1
Supplemental Items
EBITDA	2.13B	1.96B	2.17B	2.83B	3.56B
EBITA	1.85B	1.63B	1.79B	2.39B	2.96B
EBIT	1.82B	1.61B	1.77B	2.37B	2.95B
EBITDAR	2.15B	1.98B	2.2B	2.86B	3.6B
Total Revenues (As Reported)	5.71B	6.22B	7.12B	8.35B	10.06B
Effective Tax Rate - (Ratio)	8.58	16.33	7.23	12.58	13.13
Current Domestic Taxes	176M	400M	348M	370M	294M
Current Foreign Taxes	50.1M	48.1M	74.4M	102M	121M
Total Current Taxes	226M	448M	422M	472M	416M
Deferred Domestic Taxes	-20.9M	-205M	-148M	-182M	-49.2M
Deferred Foreign Taxes	-43.1M	19.9M	-133M	46.3M	68.3M
Total Deferred Taxes	-64M	-185M	-281M	-135M	19.1M
Normalized Net Income	1.16B	1.03B	1.21B	1.68B	2.05B
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	671M	879M	999M	1.15B	1.31B
Net Rental Expense, Total	20.4M	25.7M	26.8M	33.9M	40.9M
Stock-Based Comp., COGS (Total)	91.1M	91.2M	112M	129M	155M
Stock-Based Comp., R&D Exp. (Total)	134M	164M	212M	255M	301M
Stock-Based Comp., SG&A Exp. (Total)	232M	261M	275M	304M	346M
Total Stock-Based Compensation	457M	516M	598M	688M	803M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	1.29B	1.58B	2.75B	2.03B	3.37B
Short Term Investments	2.94B	2.54B	2.47B	1.99B	2.57B
Total Cash And Short Term Investments	4.23B	4.12B	5.22B	4.01B	5.93B
Accounts Receivable, Total	893M	1.07B	1.27B	1.36B	1.63B
Total Receivables	893M	1.07B	1.27B	1.36B	1.63B
Inventory	587M	893M	1.22B	1.49B	1.84B
Prepaid Expenses	134M	164M	169M	254M	376M
Other Current Assets, Total	-	-	8.1M	-	-
Total Current Assets	5.84B	6.25B	7.89B	7.11B	9.78B
Gross Property Plant And Equipment	2.92B	3.69B	5.18B	6.66B	7.77B
Accumulated Depreciation	-969M	-1.24B	-1.56B	-1.88B	-2.28B
Net Property Plant And Equipment	1.95B	2.46B	3.62B	4.78B	5.49B
Long-term Investments	4.43B	2.68B	2.19B	4.9B	3.22B
Goodwill	344M	348M	349M	348M	370M
Other Intangibles, Total	70.5M	49.8M	39.1M	23M	17.1M
Accounts Receivable Long-Term	279M	301M	232M	246M	199M
Deferred Tax Assets Long-Term	441M	665M	910M	1.05B	1.02B
Deferred Charges Long-Term	71.8M	72.3M	89.3M	147M	180M
Other Long-Term Assets, Total	122M	146M	123M	137M	180M
Total Assets	13.56B	12.97B	15.44B	18.74B	20.46B
Liabilities
Accounts Payable, Total	121M	147M	189M	193M	255M
Accrued Expenses, Total	565M	675M	744M	838M	1.02B
Current Portion of Leases	20.4M	25.7M	25.3M	33.5M	39M
Current Income Taxes Payable	54.1M	96.1M	111M	154M	125M
Unearned Revenue Current, Total	377M	397M	446M	469M	507M
Other Current Liabilities	12M	81.1M	143M	57.2M	58.3M
Total Current Liabilities	1.15B	1.42B	1.66B	1.75B	2.01B
Long-Term Leases	66.6M	69.6M	64.5M	112M	132M
Unearned Revenue Non Current	36.8M	41M	45.6M	54.1M	91.4M
Other Non Current Liabilities	350M	329M	275M	302M	288M
Total Liabilities	1.6B	1.86B	2.04B	2.21B	2.52B
Common Stock, Total	400K	400K	400K	400K	400K
Additional Paid In Capital	7.16B	7.7B	8.58B	9.68B	10.77B
Retained Earnings	4.76B	3.5B	4.74B	6.8B	7.01B
Comprehensive Income and Other	-24.2M	-162M	-12.2M	-51.3M	43.3M
Total Common Equity	11.9B	11.04B	13.31B	16.43B	17.82B
Minority Interest	50.4M	70.7M	89.7M	95.9M	118M
Total Equity	11.95B	11.11B	13.4B	16.53B	17.94B
Total Liabilities And Equity	13.56B	12.97B	15.44B	18.74B	20.46B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	358M	350M	352M	357M	355M
ECS Total Common Shares Outstanding	358M	350M	352M	357M	355M
Book Value / Share	33.27	31.55	37.77	46.08	50.19
Tangible Book Value	11.49B	10.64B	12.92B	16.06B	17.44B
Tangible Book Value Per Share	32.11	30.41	36.67	45.05	49.1
Total Debt	87M	95.3M	89.8M	146M	171M
Net Debt	-4.14B	-4.03B	-5.13B	-3.87B	-5.76B
Debt Equivalent Oper. Leases	163M	206M	214M	271M	327M
Minority Interest, Total (Incl. Fin. Div)	50.4M	70.7M	89.7M	95.9M	118M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	215M	383M	455M	564M	561M
Inventories - Work In Process, Total	96.4M	160M	160M	206M	288M
Inventories - Finished Goods, Total	276M	350M	606M	718M	991M
Land - (BS)	368M	389M	457M	476M	480M
Buildings, Total	812M	866M	1B	1.49B	2.83B
Machinery, Total	621M	701M	878M	1.07B	1.27B
Full Time Employees	9.79K	12.12K	13.68K	15.64K	17.02K
Assets on Operating Lease - Gross	616M	806M	1.15B	1.58B	2.1B
Assets on Operating Lease - Accumulated Depreciation	-182M	-286M	-434M	-574M	-725M
Accumulated Allowance for Doubtful Accounts (Supple)	7.1M	7.9M	10.1M	200K	3.2M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	1.7B	1.32B	1.8B	2.32B	2.86B
Depreciation & Amortization - CF	280M	326M	382M	439M	599M
Amortization of Goodwill and Intangible Assets - (CF)	27.4M	27.8M	20.2M	16.7M	13.2M
Depreciation & Amortization, Total	307M	354M	402M	456M	612M
Amortization of Deferred Charges, Total - (CF)	22M	26.6M	33M	37.7M	49.9M
(Gain) Loss From Sale Of Asset	2.8M	8.2M	19.6M	5.2M	13.7M
(Gain) Loss on Sale of Investments - (CF)	10.6M	49M	7.3M	-43.3M	-57.2M
Stock-Based Compensation (CF)	449M	513M	593M	677M	788M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	-39.1M	-163M	-262M	-120M	39.7M
Change In Accounts Receivable	-142M	-159M	-186M	-95.9M	-302M
Change In Inventories	-256M	-547M	-712M	-830M	-1.06B
Change In Accounts Payable	36M	21.3M	41.7M	-400K	57.9M
Change in Unearned Revenues	32.6M	21.5M	53.4M	31.2M	75.2M
Change in Other Net Operating Assets	-38.4M	44M	26.1M	-24.2M	-40.3M
Cash from Operations	2.09B	1.49B	1.81B	2.42B	3.03B
Capital Expenditure	-354M	-532M	-1.06B	-1.11B	-540M
Cash Acquisitions	-8.7M	-12.8M	-8.9M	-1M	-13.9M
Investment in Marketable and Equity Securities, Total	-2.1B	1.92B	713M	-2.16B	1.22B
Cash from Investing	-2.46B	1.37B	-360M	-3.27B	666M
Issuance of Common Stock	276M	234M	296M	429M	350M
Repurchase of Common Stock	-212M	-2.8B	-581M	-270M	-2.71B
Other Financing Activities, Total	-21.9M	-4.5M	-2.9M	-8.5M	-
Cash from Financing	43M	-2.57B	-288M	151M	-2.36B
Foreign Exchange Rate Adjustments	-3.4M	5.4M	3.3M	-800K	12.8M
Net Change in Cash	-332M	295M	1.17B	-708M	1.34B
Supplemental Items
Cash Income Tax Paid (Refund)	180M	444M	448M	466M	538M
Levered Free Cash Flow	1.6B	1.12B	779M	1.2B	2.27B
Unlevered Free Cash Flow	1.6B	1.12B	779M	1.2B	2.27B
Change In Net Working Capital	-26.5M	250M	294M	354M	492M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	9.21	7.56	7.77	8.67	9.39
Return on Total Capital	10.4	8.63	8.94	9.82	10.58
Return On Equity %	15.92	11.66	14.83	15.62	16.69
Return on Common Equity	15.76	11.53	14.77	15.62	16.67
Margin Analysis
Gross Profit Margin %	69.32	67.44	66.39	67.46	66
SG&A Margin	25.68	27.51	27.57	25.37	23.7
EBITDA Margin %	37.27	31.48	30.45	33.83	35.35
EBITA Margin %	32.37	26.24	25.08	28.58	29.4
EBIT Margin %	31.89	25.8	24.8	28.38	29.27
Income From Continuing Operations Margin %	30.26	21.61	25.51	27.99	28.58
Net Income Margin %	29.85	21.25	25.24	27.81	28.38
Net Avail. For Common Margin %	29.85	21.25	25.24	27.81	28.38
Normalized Net Income Margin	20.39	16.56	16.98	20.06	20.37
Levered Free Cash Flow Margin	27.97	17.97	10.94	14.33	22.6
Unlevered Free Cash Flow Margin	27.97	17.97	10.94	14.33	22.6
Asset Turnover
Asset Turnover	0.46	0.47	0.5	0.49	0.51
Fixed Assets Turnover	3.18	2.82	2.35	1.99	1.96
Receivables Turnover (Average Receivables)	7.05	6.33	6.09	6.37	6.74
Inventory Turnover (Average Inventory)	2.95	2.74	2.27	2.01	2.06
Short Term Liquidity
Current Ratio	5.08	4.4	4.76	4.07	4.87
Quick Ratio	4.46	3.65	3.91	3.08	3.77
Operating Cash Flow to Current Liabilities	1.82	1.05	1.09	1.38	1.51
Days Sales Outstanding (Average Receivables)	51.76	57.67	59.96	57.5	54.13
Days Outstanding Inventory (Average Inventory)	123.84	133.33	161.1	182.32	177.42
Average Days Payable Outstanding	21.3	20.99	22.51	23.43	21.68
Cash Conversion Cycle (Average Days)	154.3	170.02	198.56	216.39	209.87
Long Term Solvency
Total Debt/Equity	0.73	0.86	0.67	0.88	0.95
Total Debt / Total Capital	0.72	0.85	0.67	0.88	0.94
LT Debt/Equity	0.56	0.63	0.48	0.68	0.74
Long-Term Debt / Total Capital	0.55	0.62	0.48	0.67	0.73
Total Liabilities / Total Assets	11.83	14.35	13.24	11.81	12.3
Total Debt / EBITDA	0.04	0.05	0.04	0.05	0.05
Net Debt / EBITDA	-1.93	-2.03	-2.34	-1.35	-1.6
Total Debt / (EBITDA - Capex)	0.05	0.07	0.08	0.08	0.06
Net Debt / (EBITDA - Capex)	-2.31	-2.77	-4.54	-2.21	-1.88
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	31.01	8.97	14.49	17.24	20.5
Gross Profit, 1 Yr. Growth %	38.35	6	12.71	19.13	17.89
EBITDA, 1 Yr. Growth %	61.17	-7.96	10.72	30.28	26.86
EBITA, 1 Yr. Growth %	68.1	-11.65	9.43	33.56	25.07
EBIT, 1 Yr. Growth %	73.46	-11.85	10.07	34.15	25.4
Earnings From Cont. Operations, 1 Yr. Growth %	61.99	-22.2	35.18	28.62	23.06
Net Income, 1 Yr. Growth %	60.72	-22.43	35.98	29.18	22.97
Normalized Net Income, 1 Yr. Growth %	63.16	-11.53	17.4	39.03	23.79
Diluted EPS Before Extra, 1 Yr. Growth %	58.5	-21.67	37.81	27.63	22.59
Accounts Receivable, 1 Yr. Growth %	22.9	20.19	18.09	7.05	20
Inventory, 1 Yr. Growth %	-2.39	52.14	36.65	21.84	23.72
Net Property, Plant and Equip., 1 Yr. Growth %	18.86	25.92	47.24	32.24	14.85
Total Assets, 1 Yr. Growth %	21.36	-4.29	19.02	21.38	9.15
Tangible Book Value, 1 Yr. Growth %	23.29	-7.34	21.39	24.33	8.55
Common Equity, 1 Yr. Growth %	22.29	-7.22	20.52	23.49	8.46
Cash From Operations, 1 Yr. Growth %	40.72	-28.65	21.67	33.15	25.49
Capital Expenditures, 1 Yr. Growth %	3.51	56.82	99.89	4.42	-51.42
Levered Free Cash Flow, 1 Yr. Growth %	77.32	-30.62	-30.12	53.62	92.15
Unlevered Free Cash Flow, 1 Yr. Growth %	77.32	-30.62	-30.12	53.62	92.15
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	12.92	19.48	11.7	15.86	18.86
Gross Profit, 2 Yr. CAGR %	12.82	21.1	9.31	15.88	18.51
EBITDA, 2 Yr. CAGR %	16.27	21.8	0.95	20.1	28.08
EBITA, 2 Yr. CAGR %	14.19	21.86	-1.67	20.9	28.67
EBIT, 2 Yr. CAGR %	15.1	23.65	-1.5	21.51	29.12
Earnings From Cont. Operations, 2 Yr. CAGR %	11.83	12.26	2.55	31.86	25.81
Net Income, 2 Yr. CAGR %	11.17	11.66	2.7	32.53	26.03
Normalized Net Income, 2 Yr. CAGR %	11.74	20.15	1.91	28.61	30.44
Diluted EPS Before Extra, 2 Yr. CAGR %	10.02	11.42	3.89	32.62	25.08
Accounts Receivable, 2 Yr. CAGR %	12.28	21.54	19.14	12.43	13.34
Inventory, 2 Yr. CAGR %	-0.71	21.86	44.19	29.04	22.78
Net Property, Plant and Equip., 2 Yr. CAGR %	23.8	22.34	36.16	39.54	23.24
Total Assets, 2 Yr. CAGR %	18.01	7.78	6.73	20.19	15.1
Tangible Book Value, 2 Yr. CAGR %	21.01	6.88	6.05	22.85	16.17
Common Equity, 2 Yr. CAGR %	20.01	6.52	5.74	22	15.73
Cash From Operations, 2 Yr. CAGR %	14.34	0.2	-6.83	27.28	29.26
Capital Expenditures, 2 Yr. CAGR %	-8.86	24.86	77.05	44.47	-28.78
Levered Free Cash Flow, 2 Yr. CAGR %	24.94	11.4	-30.46	3.61	70.86
Unlevered Free Cash Flow, 2 Yr. CAGR %	24.94	11.4	-30.46	3.61	70.86
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	15.31	11.58	17.8	13.51	17.39
Gross Profit, 3 Yr. CAGR %	14.98	10.5	18.24	12.49	16.55
EBITDA, 3 Yr. CAGR %	15.97	7.56	17.99	9.91	22.01
EBITA, 3 Yr. CAGR %	13.66	4.83	17.57	8.89	21.91
EBIT, 3 Yr. CAGR %	13.53	5.31	18.95	9.18	22.43
Earnings From Cont. Operations, 3 Yr. CAGR %	15.38	-0.91	19.43	10.59	28.86
Net Income, 3 Yr. CAGR %	14.76	-1.4	19.24	10.86	29.26
Normalized Net Income, 3 Yr. CAGR %	11.86	3.38	19.22	12.89	26.5
Diluted EPS Before Extra, 3 Yr. CAGR %	13.78	-1.76	19.6	11.27	29.19
Accounts Receivable, 3 Yr. CAGR %	6.78	14.86	20.38	14.96	14.9
Inventory, 3 Yr. CAGR %	12.81	14.47	26.6	36.32	27.24
Net Property, Plant and Equip., 3 Yr. CAGR %	33.93	24.5	30.13	34.84	30.77
Total Assets, 3 Yr. CAGR %	19.99	10.05	11.4	11.41	16.4
Tangible Book Value, 3 Yr. CAGR %	21.71	10.71	11.51	11.83	17.88
Common Equity, 3 Yr. CAGR %	21.24	10.14	11	11.36	17.31
Cash From Operations, 3 Yr. CAGR %	21.34	-2.29	6.9	4.95	26.68
Capital Expenditures, 3 Yr. CAGR %	23.56	7.75	46.06	48.47	0.46
Levered Free Cash Flow, 3 Yr. CAGR %	30.44	2.99	-4.72	-9.43	26.83
Unlevered Free Cash Flow, 3 Yr. CAGR %	30.44	2.99	-4.72	-9.43	26.83
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	16.1	14.67	13.85	13.27	18.22
Gross Profit, 5 Yr. CAGR %	15.9	13.76	12.68	12.62	18.35
EBITDA, 5 Yr. CAGR %	15.16	11.09	9.71	12.41	21.92
EBITA, 5 Yr. CAGR %	13.53	8.71	7.26	10.98	21.89
EBIT, 5 Yr. CAGR %	13.62	8.59	7.26	11.51	22.92
Earnings From Cont. Operations, 5 Yr. CAGR %	18.54	14.91	10.07	11.09	21.94
Net Income, 5 Yr. CAGR %	18.22	14.53	9.78	10.98	21.91
Normalized Net Income, 5 Yr. CAGR %	13.31	7.92	7.77	12.43	23.5
Diluted EPS Before Extra, 5 Yr. CAGR %	17.43	13.67	9.72	10.77	21.77
Accounts Receivable, 5 Yr. CAGR %	14.19	14.32	11.56	13.88	17.51
Inventory, 5 Yr. CAGR %	26.35	29.93	24.44	20.09	25.06
Net Property, Plant and Equip., 5 Yr. CAGR %	33.6	31.99	34.82	30.31	27.33
Total Assets, 5 Yr. CAGR %	15.88	17.56	14.5	14	12.87
Tangible Book Value, 5 Yr. CAGR %	15.68	18.52	15.19	15.41	13.35
Common Equity, 5 Yr. CAGR %	15.55	18.23	14.78	14.74	12.87
Cash From Operations, 5 Yr. CAGR %	13.96	5.44	9.17	8.61	15.34
Capital Expenditures, 5 Yr. CAGR %	45.67	22.79	41.53	21.16	9.59
Levered Free Cash Flow, 5 Yr. CAGR %	12.95	9.72	1.6	3.19	20.35
Unlevered Free Cash Flow, 5 Yr. CAGR %	12.95	9.72	1.6	3.19	20.35