Intuitive Surgical (ISRG) Financials

$550.19 +10.65 (+1.97%)

Closing price 04:00 PM Eastern

Extended Trading

$551.21 +1.01 (+0.18%)

As of 07:22 PM Eastern

Annual Income Statements for Intuitive Surgical

This table shows Intuitive Surgical's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	2,323	1,798	1,322	1,705	1,061	1,379	1,128	671	738	589
Consolidated Net Income / (Loss)	2,338	1,817	1,344	1,728	1,067	1,382	1,125	671	738	589
Net Income / (Loss) Continuing Operations	2,338	1,817	1,344	1,728	1,067	1,382	1,125	671	738	589
Total Pre-Tax Income	2,674	1,959	1,607	1,890	1,207	1,502	1,280	1,105	985	759
Total Operating Income	2,349	1,767	1,577	1,821	1,050	1,375	1,199	1,063	950	740
Total Gross Profit	5,634	4,730	4,196	3,959	2,861	3,110	2,604	2,202	1,893	1,578
Total Revenue	8,352	7,124	6,222	5,710	4,358	4,479	3,724	3,138	2,707	2,384
Operating Revenue	8,352	7,124	6,222	5,710	4,358	4,479	3,724	3,138	2,707	2,384
Total Cost of Revenue	2,718	2,395	2,026	1,752	1,497	1,368	1,120	936	814	807
Operating Cost of Revenue	2,718	2,395	2,026	1,752	1,497	1,368	1,120	936	814	807
Total Operating Expenses	3,285	2,963	2,619	2,138	1,811	1,736	1,405	1,139	943	838
Selling, General & Admin Expense	2,140	1,964	1,740	1,467	1,216	1,178	987	811	704	641
Research & Development Expense	1,145	999	879	671	595	557	418	329	240	197
Total Other Income / (Expense), net	325	192	30	69	157	128	80	42	36	19
Other Income / (Expense), net	325	192	30	69	157	128	80	42	36	19
Income Tax Expense	336	142	262	162	140	120	155	434	247	170
Net Income / (Loss) Attributable to Noncontrolling Interest	15	19	22	24	6.20	2.50	-2.90	-0.40	0.00	-
Basic Earnings per Share	$6.54	$5.12	$3.72	$4.79	$3.02	$3.98	$9.92	$6.01	$6.43	$5.29
Weighted Average Basic Shares Outstanding	355.20M	351.20M	355.70M	356.10M	351.10M	346.20M	113.70M	111.70M	114.90M	111.30M
Diluted Earnings per Share	$6.42	$5.03	$3.65	$4.66	$2.94	$3.85	$9.49	$5.77	$6.26	$5.18
Weighted Average Diluted Shares Outstanding	362M	357.40M	362M	365.80M	361M	358.40M	118.80M	116.30M	117.90M	113.70M
Weighted Average Basic & Diluted Shares Outstanding	356.66M	352.33M	350.39M	357.74M	117.72M	115.98M	113.70M	113.50M	115M	37.10M

This table shows Intuitive Surgical's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	698	686	565	527	545	606	416	421	355	325	324
Consolidated Net Income / (Loss)	704	688	571	532	547	611	420	426	361	337	325
Net Income / (Loss) Continuing Operations	704	688	571	532	547	611	420	426	361	337	325
Total Pre-Tax Income	669	810	671	655	539	516	522	499	422	395	403
Total Operating Income	578	735	577	567	469	450	466	463	388	373	399
Total Gross Profit	1,458	1,642	1,374	1,373	1,245	1,277	1,167	1,172	1,113	1,111	1,052
Total Revenue	2,253	2,414	2,038	2,010	1,891	1,928	1,744	1,756	1,696	1,655	1,557
Operating Revenue	2,253	2,414	2,038	2,010	1,891	1,928	1,744	1,756	1,696	1,655	1,557
Total Cost of Revenue	796	771	664	637	645	651	577	584	583	544	505
Operating Cost of Revenue	796	771	664	637	645	651	577	584	583	544	505
Total Operating Expenses	880	907	797	805	776	827	701	709	725	738	653
Selling, General & Admin Expense	563	613	511	525	492	567	452	464	481	494	436
Research & Development Expense	316	295	286	280	285	260	249	244	245	244	217
Total Other Income / (Expense), net	90	75	94	87	69	66	56	36	34	22	3.90
Other Income / (Expense), net	90	75	94	87	69	66	56	36	34	22	3.90
Income Tax Expense	-35	122	100	123	-8.90	-95	102	73	61	58	78
Net Income / (Loss) Attributable to Noncontrolling Interest	5.30	2.30	5.50	4.60	2.50	4.50	4.10	5.20	5.50	12	0.70
Basic Earnings per Share	$1.95	$1.93	$1.59	$1.48	$1.54	$1.73	$1.18	$1.20	$1.01	$0.91	$0.91
Weighted Average Basic Shares Outstanding	357.50M	355.20M	355.80M	355M	353.50M	351.20M	351.70M	350.90M	350.20M	355.70M	355.30M
Diluted Earnings per Share	$1.92	$1.89	$1.56	$1.46	$1.51	$1.73	$1.16	$1.18	$1.00	$0.91	$0.90
Weighted Average Diluted Shares Outstanding	364.60M	362M	362.70M	361M	360.50M	357.40M	358.20M	357.30M	356M	362M	360.50M
Weighted Average Basic & Diluted Shares Outstanding	358.42M	356.66M	356.18M	355.35M	354.71M	352.33M	352.07M	351.35M	350.40M	350.39M	353.38M

This table details how cash moves in and out of Intuitive Surgical's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-708	1,169	295	-333	456	273	246	-388	322	114
Net Cash From Operating Activities	2,415	1,814	1,491	2,089	1,485	1,598	1,170	1,144	1,087	806
Net Cash From Continuing Operating Activities	2,415	1,814	1,491	2,089	1,485	1,598	1,170	1,144	1,087	806
Net Income / (Loss) Continuing Operations	2,338	1,817	1,344	1,728	1,067	1,382	1,125	671	738	589
Consolidated Net Income / (Loss)	2,338	1,817	1,344	1,728	1,067	1,382	1,125	671	738	589
Depreciation Expense	445	402	338	283	226	160	109	86	74	65
Amortization Expense	11	61	103	60	12	50	27	45	64	51
Non-Cash Adjustments To Reconcile Net Income	676	593	509	449	395	336	261	209	178	168
Changes in Operating Assets and Liabilities, net	-1,055	-1,058	-804	-431	-216	-330	-352	133	33	-66
Net Cash From Investing Activities	-3,273	-360	1,371	-2,462	-941	-1,154	-1,050	379	-1,279	-850
Net Cash From Continuing Investing Activities	-3,273	-360	1,371	-2,462	-941	-1,154	-1,050	379	-1,279	-850
Purchase of Property, Plant & Equipment	-1,111	-1,064	-532	-340	-342	-426	-187	-191	-54	-81
Acquisitions	-1.00	-8.90	-13	-23	-38	-60	-88	0.00	0.00	-
Purchase of Investments	-5,140	-2,207	-1,400	-6,452	-4,293	-3,346	-2,582	-1,995	-2,586	-1,827
Sale and/or Maturity of Investments	2,979	2,920	3,316	4,353	3,732	2,677	1,808	2,564	1,360	1,059
Net Cash From Financing Activities	151	-288	-2,572	43	-86	-168	126	-1,913	514	159
Net Cash From Continuing Financing Activities	151	-288	-2,572	43	-86	-168	126	-1,913	514	159
Repurchase of Common Equity	0.00	-416	-2,607	0.00	-134	-270	0.00	-2,274	-43	-184
Payment of Dividends	-8.00	0.00	0.00	-	-	-	-	-	-	-
Issuance of Common Equity	429	296	234	277	309	283	247	418	581	361
Other Financing Activities, net	-271	-168	-199	-234	-260	-182	-120	-57	-24	-11
Effect of Exchange Rate Changes	-0.80	3.30	5.40	-3.40	-2.60	-2.20	-0.10	2.10	0.00	-1.50

This table details how cash moves in and out of Intuitive Surgical's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	555	-384	-621	200	97	-853	165	1,292	565	47	2.80
Net Cash From Operating Activities	582	823	707	621	265	228	548	666	371	438	383
Net Cash From Continuing Operating Activities	582	823	707	621	265	228	548	666	371	438	383
Net Income / (Loss) Continuing Operations	704	688	571	532	547	611	420	426	361	337	325
Consolidated Net Income / (Loss)	704	688	571	532	547	611	420	426	361	337	325
Depreciation Expense	138	122	113	107	104	118	104	92	88	99	82
Amortization Expense	-5.60	8.70	0.60	-5.90	7.70	8.10	13	22	17	19	25
Non-Cash Adjustments To Reconcile Net Income	185	176	173	174	153	150	156	147	140	128	138
Changes in Operating Assets and Liabilities, net	-439	-172	-150	-186	-547	-659	-144	-21	-234	-144	-186
Net Cash From Investing Activities	214	-1,264	-1,413	-467	-129	-1,044	-447	558	573	575	545
Net Cash From Continuing Investing Activities	214	-1,264	-1,413	-467	-129	-1,044	-447	558	573	575	545
Purchase of Property, Plant & Equipment	-117	-312	-248	-309	-242	-436	-256	-178	-194	-139	-169
Purchase of Investments	-520	-1,430	-1,920	-884	-906	-1,387	-806	-11	-3.50	-5.90	-17
Sale and/or Maturity of Investments	850	479	755	726	1,019	780	616	754	771	720	731
Net Cash From Financing Activities	-236	49	98	50	-47	-32	62	63	-381	-964	-927
Net Cash From Continuing Financing Activities	-236	49	98	50	-47	-32	62	63	-381	-964	-927
Issuance of Common Equity	134	62	116	72	180	44	77	75	100	45	82
Other Financing Activities, net	-370	-13	-17	-14	-227	-9.30	-16	-11	-131	-7.90	-8.80
Effect of Exchange Rate Changes	-4.50	8.30	-12	-3.70	6.80	-	-	5.20	1.80	-2.50	1.90

This table presents Intuitive Surgical's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	18,743	15,442	12,974	13,555	11,169	9,733	7,847	5,777	6,487	4,907
Total Current Assets	7,111	7,888	6,253	5,845	6,626	4,663	4,333	2,809	3,250	2,196
Cash & Equivalents	2,027	2,750	1,581	1,291	1,623	1,168	858	648	1,037	715
Short-Term Investments	1,986	2,473	2,537	2,913	3,489	2,054	2,205	1,312	1,518	845
Accounts Receivable	1,225	1,130	942	783	646	645	682	508	430	394
Inventories, net	1,487	1,221	893	587	602	596	409	241	182	168
Prepaid Expenses	385	314	300	271	268	200	179	99	83	74
Plant, Property, & Equipment, net	4,647	3,538	2,374	1,876	1,577	1,273	812	613	458	432
Total Noncurrent Assets	6,986	4,016	4,347	5,834	2,966	3,798	2,702	2,355	2,778	2,280
Long-Term Investments	4,819	2,120	2,624	4,416	1,758	2,624	1,771	1,886	2,283	1,788
Goodwill	348	349	349	344	337	307	241	201	201	201
Intangible Assets	774	637	710	633	504	441	261	196	143	123
Noncurrent Deferred & Refundable Income Taxes	1,045	911	665	441	368	426	429	72	151	168
Total Liabilities & Shareholders' Equity	18,743	15,442	12,974	13,555	11,169	9,733	7,847	5,777	6,487	4,907
Total Liabilities	2,214	2,044	1,861	1,604	1,410	1,449	1,159	996	709	588
Total Current Liabilities	1,745	1,659	1,422	1,150	965	1,030	821	663	597	492
Accounts Payable	193	189	147	121	82	124	101	83	69	53
Current Deferred Revenue	469	446	397	377	350	338	294	244	241	226
Current Employee Benefit Liabilities	536	436	402	350	235	252	194	168	136	117
Other Current Liabilities	548	588	476	301	298	317	232	169	-	-
Total Noncurrent Liabilities	468	386	439	454	445	418	339	334	113	96
Long-Term Debt	468	386	439	454	445	418	339	334	-	-
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	16,530	13,397	11,113	11,952	9,759	8,285	6,688	4,780	5,778	4,320
Total Preferred & Common Equity	16,434	13,308	11,042	11,901	9,732	8,264	6,679	4,779	5,778	4,320
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	16,434	13,308	11,042	11,901	9,732	8,264	6,679	4,779	5,778	4,320
Common Stock	9,682	8,577	7,704	7,164	6,445	5,757	5,170	4,679	4,212	3,430
Retained Earnings	6,803	4,743	3,500	4,761	3,261	2,495	1,522	115	1,575	899
Accumulated Other Comprehensive Income / (Loss)	-51	-12	-163	-24	25	12	-13	-16	-8.90	-9.50
Noncontrolling Interest	96	90	71	50	28	21	8.70	1.60	0.00	-

This table presents Intuitive Surgical's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	19,220	18,743	17,743	16,650	15,828	15,442	14,713	13,903	13,053	12,974	13,261
Total Current Assets	7,658	7,111	7,216	7,654	7,633	7,888	8,903	8,032	6,877	6,253	6,293
Cash & Equivalents	2,574	2,027	2,413	3,037	2,840	2,750	3,602	3,435	2,143	1,581	1,538
Short-Term Investments	1,938	1,986	1,818	1,721	1,961	2,473	2,874	2,364	2,549	2,537	2,776
Accounts Receivable	1,222	1,225	1,153	1,109	1,128	1,130	963	904	925	942	850
Inventories, net	1,554	1,487	1,482	1,384	1,299	1,221	1,148	1,005	947	893	837
Prepaid Expenses	371	385	349	404	405	314	317	323	313	300	293
Plant, Property, & Equipment, net	4,799	4,647	4,433	4,117	3,800	3,538	3,077	2,831	2,580	2,374	2,244
Total Noncurrent Assets	6,764	6,986	6,095	4,879	4,396	4,016	2,733	3,041	3,596	4,347	4,724
Long-Term Investments	4,590	4,819	4,080	2,926	2,523	2,120	1,045	1,333	1,886	2,624	3,078
Goodwill	348	348	348	348	348	349	348	349	349	349	348
Intangible Assets	788	774	670	658	607	637	638	693	716	710	710
Noncurrent Deferred & Refundable Income Taxes	1,039	1,045	997	947	918	911	701	667	645	665	587
Total Liabilities & Shareholders' Equity	19,220	18,743	17,743	16,650	15,828	15,442	14,713	13,903	13,053	12,974	13,261
Total Liabilities	2,013	2,214	2,066	1,853	1,782	2,044	2,089	1,944	1,759	1,861	1,687
Total Current Liabilities	1,538	1,745	1,677	1,488	1,375	1,659	1,676	1,538	1,307	1,422	1,233
Accounts Payable	276	193	219	194	194	189	196	200	164	147	164
Current Deferred Revenue	496	469	426	434	438	446	395	405	418	397	359
Current Employee Benefit Liabilities	310	536	378	321	238	436	375	347	261	402	308
Other Current Liabilities	456	548	655	538	505	588	711	587	465	476	402
Total Noncurrent Liabilities	475	468	389	366	407	386	413	405	452	439	453
Long-Term Debt	475	468	389	366	407	386	413	405	452	439	453
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	17,208	16,530	15,678	14,797	14,046	13,397	12,624	11,960	11,294	11,113	11,574
Total Preferred & Common Equity	17,106	16,434	15,583	14,708	13,963	13,308	12,539	11,879	11,218	11,042	11,515
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	17,106	16,434	15,583	14,708	13,963	13,308	12,539	11,879	11,218	11,042	11,515
Common Stock	9,994	9,682	9,441	9,150	8,903	8,577	8,386	8,151	7,929	7,704	7,685
Retained Earnings	7,139	6,803	6,130	5,582	5,068	4,743	4,209	3,808	3,397	3,500	4,018
Accumulated Other Comprehensive Income / (Loss)	-27	-51	13	-24	-8.70	-12	-57	-80	-109	-163	-188
Noncontrolling Interest	101	96	94	88	84	90	85	81	77	71	59

This table displays calculated financial ratios and metrics derived from Intuitive Surgical's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.24%	14.49%	8.97%	31.01%	-2.68%	20.25%	18.67%	15.95%	13.51%	11.85%
EBITDA Growth	29.29%	18.20%	-8.28%	54.52%	-15.60%	21.04%	14.46%	10.02%	28.48%	33.03%
EBIT Growth	36.50%	21.91%	-15.00%	56.61%	-19.65%	17.41%	15.81%	12.13%	29.90%	38.16%
NOPAT Growth	25.28%	24.22%	-20.74%	79.42%	-26.61%	19.89%	63.38%	-9.30%	23.88%	38.22%
Net Income Growth	28.62%	35.18%	-22.20%	61.99%	-22.80%	22.83%	67.69%	-9.13%	25.39%	40.59%
EPS Growth	27.63%	37.81%	-21.67%	58.50%	-22.80%	22.83%	64.47%	-7.83%	25.39%	40.59%
Operating Cash Flow Growth	33.15%	21.67%	-28.65%	40.72%	-7.10%	36.65%	2.25%	5.23%	34.83%	21.21%
Free Cash Flow Firm Growth	3,213.41%	-96.65%	-75.71%	169.07%	-24.60%	358.87%	-58.98%	-57.24%	53.24%	72.83%
Invested Capital Growth	26.80%	33.87%	27.07%	13.53%	16.68%	30.39%	72.92%	34.85%	-3.27%	10.12%
Revenue Q/Q Growth	6.17%	3.99%	1.70%	4.04%	1.19%	5.44%	4.33%	4.43%	3.14%	3.10%
EBITDA Q/Q Growth	10.52%	5.66%	-2.00%	1.10%	2.13%	6.44%	1.46%	4.36%	3.70%	8.58%
EBIT Q/Q Growth	12.35%	6.60%	-3.57%	0.95%	0.40%	5.10%	1.39%	5.81%	3.01%	9.69%
NOPAT Q/Q Growth	4.75%	15.55%	-4.45%	2.11%	1.45%	5.36%	38.67%	-26.05%	1.75%	7.03%
Net Income Q/Q Growth	3.42%	17.75%	-3.31%	1.12%	0.08%	5.45%	40.24%	-26.18%	2.27%	7.92%
EPS Q/Q Growth	1.90%	16.71%	-5.93%	-1.48%	0.08%	5.45%	34.61%	-29.03%	2.27%	7.92%
Operating Cash Flow Q/Q Growth	32.64%	-10.36%	-8.01%	-2.78%	5.31%	15.51%	0.52%	0.20%	1.12%	18.09%
Free Cash Flow Firm Q/Q Growth	217.40%	-98.16%	-31.93%	-6.94%	39.63%	25.94%	203.14%	-54.30%	4.87%	31.77%
Invested Capital Q/Q Growth	5.29%	16.75%	3.78%	2.66%	-0.80%	3.18%	7.18%	9.47%	-4.14%	-1.85%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	67.46%	66.39%	67.44%	69.32%	65.65%	69.45%	69.92%	70.17%	69.94%	66.18%
EBITDA Margin	37.48%	33.98%	32.92%	39.11%	33.16%	38.23%	37.99%	39.39%	41.51%	36.67%
Operating Margin	28.12%	24.80%	25.35%	31.89%	24.09%	30.69%	32.21%	33.87%	35.09%	31.04%
EBIT Margin	32.01%	27.50%	25.82%	33.10%	27.69%	33.54%	34.36%	35.20%	36.41%	31.81%
Profit (Net Income) Margin	27.99%	25.51%	21.61%	30.26%	24.48%	30.85%	30.21%	21.38%	27.28%	24.69%
Tax Burden Percent	87.42%	92.77%	83.67%	91.42%	88.38%	91.99%	87.93%	60.73%	74.93%	77.63%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	12.58%	7.23%	16.33%	8.58%	11.62%	8.01%	12.08%	39.27%	25.07%	22.37%
Return on Invested Capital (ROIC)	28.12%	29.14%	30.70%	46.76%	29.97%	50.08%	60.97%	58.48%	74.45%	61.96%
ROIC Less NNEP Spread (ROIC-NNEP)	24.41%	26.45%	30.36%	45.89%	27.62%	47.71%	59.21%	57.87%	73.80%	61.47%
Return on Net Nonoperating Assets (RNNOA)	-12.50%	-14.31%	-19.04%	-30.84%	-18.14%	-31.62%	-41.35%	-45.77%	-59.83%	-46.67%
Return on Equity (ROE)	15.62%	14.83%	11.66%	15.92%	11.82%	18.46%	19.62%	12.71%	14.62%	15.30%
Cash Return on Invested Capital (CROIC)	4.49%	0.18%	6.86%	34.09%	14.57%	23.69%	7.54%	28.80%	77.78%	52.33%
Operating Return on Assets (OROA)	15.64%	13.79%	12.11%	15.29%	11.55%	17.09%	18.78%	18.02%	17.29%	17.11%
Return on Assets (ROA)	13.68%	12.79%	10.14%	13.98%	10.21%	15.72%	16.52%	10.94%	12.96%	13.28%
Return on Common Equity (ROCE)	15.52%	14.73%	11.60%	15.86%	11.79%	18.42%	19.60%	12.71%	14.62%	15.30%
Return on Equity Simple (ROE_SIMPLE)	14.22%	13.66%	12.18%	14.52%	10.96%	16.72%	16.84%	14.04%	12.78%	13.63%
Net Operating Profit after Tax (NOPAT)	2,053	1,639	1,320	1,665	928	1,264	1,055	645	712	574
NOPAT Margin	24.59%	23.01%	21.21%	29.15%	21.29%	28.23%	28.32%	20.57%	26.29%	24.09%
Net Nonoperating Expense Percent (NNEP)	3.71%	2.69%	0.34%	0.87%	2.34%	2.37%	1.76%	0.61%	0.65%	0.49%
Return On Investment Capital (ROIC_SIMPLE)	12.08%	11.89%	11.42%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	32.54%	33.61%	32.56%	30.68%	34.35%	30.55%	30.08%	29.83%	30.06%	33.82%
SG&A Expenses to Revenue	25.62%	27.57%	27.96%	25.68%	27.91%	26.31%	26.49%	25.83%	26.00%	26.86%
R&D to Revenue	13.71%	14.02%	14.13%	11.75%	13.65%	12.44%	11.23%	10.47%	8.85%	8.28%
Operating Expenses to Revenue	39.34%	41.59%	42.09%	37.43%	41.56%	38.76%	37.72%	36.30%	34.85%	35.14%
Earnings before Interest and Taxes (EBIT)	2,674	1,959	1,607	1,890	1,207	1,502	1,280	1,105	985	759
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,130	2,421	2,048	2,233	1,445	1,712	1,415	1,236	1,123	874
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.31	8.93	8.49	10.79	9.88	8.27	8.19	8.56	4.25	4.72
Price to Tangible Book Value (P/TBV)	12.14	9.64	9.39	11.75	10.82	9.09	8.85	9.33	4.52	5.11
Price to Revenue (P/Rev)	22.26	16.67	15.07	22.48	22.07	15.26	14.69	13.03	9.08	8.56
Price to Earnings (P/E)	80.04	66.06	70.91	75.30	90.68	49.53	48.49	60.95	33.28	34.66
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.25%	1.51%	1.41%	1.33%	1.10%	2.02%	2.06%	1.64%	3.00%	2.89%
Enterprise Value to Invested Capital (EV/IC)	21.76	17.38	18.20	31.76	26.92	22.02	22.91	29.49	21.00	17.56
Enterprise Value to Revenue (EV/Rev)	21.27	15.71	14.07	21.06	20.60	14.05	13.48	11.91	7.29	7.15
Enterprise Value to EBITDA (EV/EBITDA)	56.75	46.22	42.74	53.84	62.12	36.74	35.49	30.24	17.57	19.51
Enterprise Value to EBIT (EV/EBIT)	66.44	57.13	54.48	63.61	74.38	41.88	39.24	33.83	20.03	22.49
Enterprise Value to NOPAT (EV/NOPAT)	86.51	68.27	66.34	72.23	96.76	49.76	47.61	57.91	27.73	29.70
Enterprise Value to Operating Cash Flow (EV/OCF)	73.56	61.70	58.72	57.55	60.46	39.37	42.93	32.68	18.15	21.16
Enterprise Value to Free Cash Flow (EV/FCFF)	542.32	11,319.69	296.89	99.07	199.03	105.17	385.10	117.60	26.55	35.16
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.03	0.03	0.04	0.04	0.05	0.05	0.05	0.07	0.00	0.00
Long-Term Debt to Equity	0.03	0.03	0.04	0.04	0.05	0.05	0.05	0.07	0.00	0.00
Financial Leverage	-0.51	-0.54	-0.63	-0.67	-0.66	-0.66	-0.70	-0.79	-0.81	-0.76
Leverage Ratio	1.14	1.16	1.15	1.14	1.16	1.17	1.19	1.16	1.13	1.15
Compound Leverage Factor	1.14	1.16	1.15	1.14	1.16	1.17	1.19	1.16	1.13	1.15
Debt to Total Capital	2.76%	2.80%	3.80%	3.66%	4.36%	4.81%	4.82%	6.52%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	2.76%	2.80%	3.80%	3.66%	4.36%	4.81%	4.82%	6.52%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.56%	0.65%	0.61%	0.41%	0.27%	0.24%	0.12%	0.03%	0.00%	0.00%
Common Equity to Total Capital	96.68%	96.55%	95.59%	95.94%	95.37%	94.95%	95.06%	93.45%	100.00%	100.00%
Debt to EBITDA	0.15	0.16	0.21	0.20	0.31	0.24	0.24	0.27	0.00	0.00
Net Debt to EBITDA	-2.67	-2.87	-3.08	-3.66	-4.45	-3.17	-3.18	-2.84	0.00	0.00
Long-Term Debt to EBITDA	0.15	0.16	0.21	0.20	0.31	0.24	0.24	0.27	0.00	0.00
Debt to NOPAT	0.23	0.24	0.33	0.27	0.48	0.33	0.32	0.52	0.00	0.00
Net Debt to NOPAT	-4.07	-4.24	-4.78	-4.91	-6.92	-4.29	-4.26	-5.44	0.00	0.00
Long-Term Debt to NOPAT	0.23	0.24	0.33	0.27	0.48	0.33	0.32	0.52	0.00	0.00
Altman Z-Score	52.16	36.66	31.94	49.82	42.69	30.08	30.13	26.27	22.54	22.50
Noncontrolling Interest Sharing Ratio	0.62%	0.65%	0.53%	0.36%	0.27%	0.20%	0.09%	0.02%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.07	4.76	4.40	5.08	6.86	4.53	5.28	4.24	5.45	4.46
Quick Ratio	3.00	3.83	3.56	4.34	5.96	3.75	4.56	3.72	5.00	3.97
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	328	9.89	295	1,214	451	598	130	318	743	485
Operating Cash Flow to CapEx	217.33%	170.44%	280.02%	615.43%	434.79%	375.52%	624.12%	599.84%	2,016.70%	995.31%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.49	0.50	0.47	0.46	0.42	0.51	0.55	0.51	0.48	0.54
Accounts Receivable Turnover	7.09	6.88	7.22	8.00	6.75	6.75	6.26	6.69	6.57	6.72
Inventory Turnover	2.01	2.27	2.74	2.95	2.50	2.72	3.45	4.42	4.65	4.61
Fixed Asset Turnover	2.04	2.41	2.93	3.31	3.06	4.30	5.23	5.86	6.08	5.82
Accounts Payable Turnover	14.23	14.27	15.11	17.27	14.60	12.21	12.23	12.40	13.44	14.12
Days Sales Outstanding (DSO)	51.47	53.09	50.59	45.65	54.05	54.10	58.32	54.55	55.60	54.30
Days Inventory Outstanding (DIO)	181.82	161.10	133.33	123.84	145.91	133.98	105.94	82.56	78.55	79.11
Days Payable Outstanding (DPO)	25.66	25.58	24.16	21.13	25.00	29.90	29.85	29.44	27.16	25.84
Cash Conversion Cycle (CCC)	207.64	188.60	159.76	148.36	174.95	158.17	134.41	107.67	106.99	107.56
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,166	6,440	4,810	3,786	3,335	2,858	2,192	1,268	940	972
Invested Capital Turnover	1.14	1.27	1.45	1.60	1.41	1.77	2.15	2.84	2.83	2.57
Increase / (Decrease) in Invested Capital	1,726	1,629	1,025	451	477	666	924	328	-32	89
Enterprise Value (EV)	177,643	111,907	87,539	120,240	89,775	62,915	50,206	37,379	19,734	17,060
Market Capitalization	185,911	118,775	93,771	128,355	96,172	68,321	54,693	40,891	24,572	20,407
Book Value per Share	$46.14	$37.80	$31.25	$33.31	$82.78	$71.50	$58.48	$42.65	$149.12	$115.60
Tangible Book Value per Share	$42.99	$35.00	$28.25	$30.58	$75.63	$65.03	$54.09	$39.11	$140.24	$106.93
Total Capital	16,998	13,783	11,552	12,405	10,204	8,703	7,026	5,114	5,778	4,320
Total Debt	468	386	439	454	445	418	339	334	0.00	0.00
Total Long-Term Debt	468	386	439	454	445	418	339	334	0.00	0.00
Net Debt	-8,364	-6,958	-6,302	-8,166	-6,425	-5,427	-4,496	-3,513	-4,838	-3,348
Capital Expenditures (CapEx)	1,111	1,064	532	340	342	426	187	191	54	81
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,352	1,006	713	491	549	411	450	186	99	144
Debt-free Net Working Capital (DFNWC)	5,366	6,229	4,831	4,695	5,661	3,632	3,513	2,146	2,654	1,704
Net Working Capital (NWC)	5,366	6,229	4,831	4,695	5,661	3,632	3,513	2,146	2,654	1,704
Net Nonoperating Expense (NNE)	-284	-178	-25	-63	-139	-117	-70	-25	-27	-14
Net Nonoperating Obligations (NNO)	-8,364	-6,958	-6,302	-8,166	-6,425	-5,427	-4,496	-3,513	-4,838	-3,348
Total Depreciation and Amortization (D&A)	456	462	441	343	238	210	135	131	138	116
Debt-free, Cash-free Net Working Capital to Revenue	16.19%	14.12%	11.46%	8.60%	12.60%	9.17%	12.07%	5.91%	3.67%	6.03%
Debt-free Net Working Capital to Revenue	64.24%	87.44%	77.64%	82.22%	129.88%	81.11%	94.32%	68.39%	98.06%	71.45%
Net Working Capital to Revenue	64.24%	87.44%	77.64%	82.22%	129.88%	81.11%	94.32%	68.39%	98.06%	71.45%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$6.54	$5.12	$3.72	$4.79	$3.02	$3.98	$3.31	$1.97	$2.13	$1.76
Adjusted Weighted Average Basic Shares Outstanding	355.20M	351.20M	355.70M	356.10M	351M	346.20M	341.10M	335.10M	344.70M	333.90M
Adjusted Diluted Earnings per Share	$6.42	$5.03	$3.65	$4.66	$2.94	$3.85	$3.16	$1.89	$2.08	$1.73
Adjusted Weighted Average Diluted Shares Outstanding	362M	357.40M	362M	365.80M	360.90M	358.50M	356.40M	348.90M	353.70M	341.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	356.66M	352.33M	350.39M	357.74M	353.15M	347.95M	343.47M	336.90M	349.08M	336.42M
Normalized Net Operating Profit after Tax (NOPAT)	2,053	1,639	1,320	1,665	928	1,264	1,055	645	712	574
Normalized NOPAT Margin	24.59%	23.01%	21.21%	29.15%	21.29%	28.23%	28.32%	20.57%	26.29%	24.09%
Pre Tax Income Margin	32.01%	27.50%	25.82%	33.10%	27.69%	33.54%	34.36%	35.20%	36.41%	31.81%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.34%	22.91%	193.95%	0.00%	12.59%	19.50%	0.00%	338.95%	5.76%	31.20%

This table displays calculated financial ratios and metrics derived from Intuitive Surgical's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.19%	25.16%	16.88%	14.47%	11.46%	16.51%	11.96%	15.36%	14.01%	6.73%	10.98%
EBITDA Growth	23.06%	46.41%	22.82%	23.13%	23.46%	25.31%	25.39%	20.84%	1.54%	-7.56%	-7.53%
EBIT Growth	24.14%	56.97%	28.54%	31.11%	27.67%	30.71%	29.59%	22.68%	4.82%	-13.10%	-12.64%
NOPAT Growth	27.53%	17.16%	31.05%	16.55%	43.92%	67.71%	16.50%	28.99%	-11.50%	-16.27%	-13.48%
Net Income Growth	28.55%	12.66%	35.92%	24.77%	51.72%	81.38%	29.29%	35.84%	-2.33%	-12.02%	-16.14%
EPS Growth	27.15%	9.25%	34.48%	23.73%	51.00%	90.11%	28.89%	38.82%	0.00%	-14.95%	-13.46%
Operating Cash Flow Growth	119.14%	260.32%	28.83%	-6.79%	-28.54%	-47.86%	43.11%	49.03%	66.55%	-22.86%	-23.57%
Free Cash Flow Firm Growth	43.31%	-0.48%	-245.76%	-269.56%	-121.35%	-55.07%	19.25%	1.56%	-74.59%	-887.32%	-1,477.42%
Invested Capital Growth	20.35%	26.80%	40.60%	42.92%	37.99%	33.87%	18.99%	20.17%	24.08%	27.07%	25.70%
Revenue Q/Q Growth	-6.63%	18.42%	1.40%	6.31%	-1.96%	10.59%	-0.69%	3.52%	2.49%	6.27%	2.32%
EBITDA Q/Q Growth	-14.86%	19.86%	3.83%	16.14%	1.29%	0.55%	4.09%	16.46%	2.81%	0.61%	0.32%
EBIT Q/Q Growth	-17.45%	20.69%	2.52%	21.54%	4.38%	-1.17%	4.57%	18.35%	6.87%	-2.01%	-1.01%
NOPAT Q/Q Growth	-2.53%	27.18%	6.56%	-3.45%	-10.46%	42.26%	-5.23%	19.22%	4.34%	-1.18%	4.94%
Net Income Q/Q Growth	2.28%	20.57%	7.36%	-2.90%	-10.37%	45.47%	-1.46%	18.07%	7.16%	3.70%	3.54%
EPS Q/Q Growth	1.59%	21.15%	6.85%	-3.31%	-12.72%	49.14%	-1.69%	18.00%	9.89%	1.11%	5.88%
Operating Cash Flow Q/Q Growth	-29.30%	16.43%	13.86%	133.80%	16.25%	-58.37%	-17.62%	79.24%	-15.19%	14.27%	-14.22%
Free Cash Flow Firm Q/Q Growth	23.53%	37.00%	2.07%	-20.16%	-35.54%	-116.78%	-4.67%	28.03%	5.05%	-12.89%	-27.61%
Invested Capital Q/Q Growth	5.09%	5.29%	3.69%	4.90%	10.72%	16.75%	5.40%	1.28%	7.42%	3.78%	6.44%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	64.69%	68.04%	67.41%	68.30%	65.87%	66.24%	66.94%	66.74%	65.62%	67.12%	67.55%
EBITDA Margin	35.52%	38.95%	38.48%	37.58%	34.40%	33.30%	36.62%	34.94%	31.06%	30.96%	32.70%
Operating Margin	25.65%	30.45%	28.33%	28.23%	24.83%	23.35%	26.71%	26.38%	22.85%	22.51%	25.61%
EBIT Margin	29.67%	33.55%	32.92%	32.56%	28.48%	26.75%	29.94%	28.43%	24.87%	23.85%	25.86%
Profit (Net Income) Margin	31.23%	28.51%	28.00%	26.44%	28.95%	31.67%	24.08%	24.26%	21.27%	20.34%	20.85%
Tax Burden Percent	105.27%	84.96%	85.04%	81.21%	101.65%	118.38%	80.42%	85.34%	85.54%	85.31%	80.61%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	-5.27%	15.04%	14.96%	18.79%	-1.65%	-18.38%	19.58%	14.66%	14.46%	14.69%	19.39%
Return on Invested Capital (ROIC)	29.96%	29.59%	28.56%	27.31%	30.04%	35.00%	29.00%	31.29%	26.94%	27.80%	30.35%
ROIC Less NNEP Spread (ROIC-NNEP)	28.73%	28.76%	27.50%	26.30%	28.96%	33.83%	28.35%	30.87%	26.53%	27.53%	30.31%
Return on Net Nonoperating Assets (RNNOA)	-14.29%	-14.72%	-14.60%	-13.80%	-14.91%	-18.30%	-16.46%	-18.56%	-15.97%	-17.27%	-19.36%
Return on Equity (ROE)	15.67%	14.86%	13.95%	13.50%	15.13%	16.70%	12.54%	12.74%	10.97%	10.52%	11.00%
Cash Return on Invested Capital (CROIC)	9.36%	4.49%	-4.21%	-6.29%	-2.90%	0.18%	10.60%	10.19%	5.91%	6.86%	10.41%
Operating Return on Assets (OROA)	14.75%	16.40%	15.96%	16.14%	14.44%	13.42%	14.66%	13.73%	11.96%	11.19%	12.08%
Return on Assets (ROA)	15.53%	13.93%	13.57%	13.11%	14.67%	15.88%	11.79%	11.71%	10.23%	9.54%	9.74%
Return on Common Equity (ROCE)	15.58%	14.77%	13.87%	13.42%	15.04%	16.59%	12.46%	12.66%	10.91%	10.47%	10.94%
Return on Equity Simple (ROE_SIMPLE)	14.58%	0.00%	14.50%	14.34%	14.35%	0.00%	12.31%	12.19%	11.91%	0.00%	12.07%
Net Operating Profit after Tax (NOPAT)	609	624	491	461	477	533	375	395	332	318	322
NOPAT Margin	27.01%	25.87%	24.09%	22.92%	25.24%	27.64%	21.48%	22.51%	19.55%	19.20%	20.65%
Net Nonoperating Expense Percent (NNEP)	1.22%	0.83%	1.06%	1.01%	1.08%	1.17%	0.64%	0.43%	0.41%	0.26%	0.04%
Return On Investment Capital (ROIC_SIMPLE)	3.44%	3.67%	-	-	-	3.87%	-	-	-	2.75%	-
Cost of Revenue to Revenue	35.31%	31.96%	32.59%	31.70%	34.13%	33.76%	33.06%	33.26%	34.38%	32.88%	32.45%
SG&A Expenses to Revenue	25.00%	25.38%	25.05%	26.14%	26.00%	29.41%	25.92%	26.44%	28.33%	29.87%	28.00%
R&D to Revenue	14.03%	12.21%	14.03%	13.94%	15.05%	13.49%	14.30%	13.92%	14.44%	14.75%	13.94%
Operating Expenses to Revenue	39.03%	37.59%	39.09%	40.07%	41.05%	42.90%	40.22%	40.36%	42.77%	44.62%	41.94%
Earnings before Interest and Taxes (EBIT)	669	810	671	655	539	516	522	499	422	395	403
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	800	940	784	755	650	642	639	614	527	512	509
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	10.33	11.31	11.20	10.73	10.06	8.93	8.19	10.09	7.98	8.49	5.81
Price to Tangible Book Value (P/TBV)	11.06	12.14	11.99	11.52	10.80	9.64	8.89	11.06	8.82	9.39	6.40
Price to Revenue (P/Rev)	20.27	22.26	22.19	20.84	19.20	16.67	14.99	17.98	13.92	15.07	10.94
Price to Earnings (P/E)	71.34	80.04	77.83	75.36	70.69	66.06	67.71	84.08	68.23	70.91	48.58
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.40%	1.25%	1.28%	1.33%	1.41%	1.51%	1.48%	1.19%	1.47%	1.41%	2.06%
Enterprise Value to Invested Capital (EV/IC)	19.59	21.76	21.50	20.13	18.75	17.38	17.35	21.63	16.15	18.20	12.96
Enterprise Value to Revenue (EV/Rev)	19.29	21.27	21.20	19.88	18.27	15.71	13.97	16.98	12.98	14.07	9.82
Enterprise Value to EBITDA (EV/EBITDA)	51.25	56.75	58.88	56.04	52.53	46.22	41.76	52.34	40.59	42.74	28.73
Enterprise Value to EBIT (EV/EBIT)	59.96	66.44	70.06	67.49	64.40	57.13	52.06	65.85	51.32	54.48	36.04
Enterprise Value to NOPAT (EV/NOPAT)	76.91	86.51	85.06	81.55	74.90	68.27	67.45	82.78	65.28	66.34	43.49
Enterprise Value to Operating Cash Flow (EV/OCF)	61.55	73.56	91.58	90.56	78.27	61.70	47.28	60.90	50.92	58.72	37.06
Enterprise Value to Free Cash Flow (EV/FCFF)	228.74	542.32	0.00	0.00	0.00	11,319.69	177.77	231.60	302.59	296.89	138.64
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.03	0.03	0.02	0.02	0.03	0.03	0.03	0.03	0.04	0.04	0.04
Long-Term Debt to Equity	0.03	0.03	0.02	0.02	0.03	0.03	0.03	0.03	0.04	0.04	0.04
Financial Leverage	-0.50	-0.51	-0.53	-0.52	-0.51	-0.54	-0.58	-0.60	-0.60	-0.63	-0.64
Leverage Ratio	1.12	1.14	1.15	1.14	1.14	1.16	1.16	1.15	1.14	1.15	1.14
Compound Leverage Factor	1.12	1.14	1.15	1.14	1.14	1.16	1.16	1.15	1.14	1.15	1.14
Debt to Total Capital	2.68%	2.76%	2.42%	2.41%	2.81%	2.80%	3.17%	3.28%	3.84%	3.80%	3.77%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	2.68%	2.76%	2.42%	2.41%	2.81%	2.80%	3.17%	3.28%	3.84%	3.80%	3.77%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.57%	0.56%	0.59%	0.58%	0.58%	0.65%	0.65%	0.65%	0.65%	0.61%	0.49%
Common Equity to Total Capital	96.74%	96.68%	96.99%	97.01%	96.61%	96.55%	96.19%	96.07%	95.50%	95.59%	95.74%
Debt to EBITDA	0.14	0.15	0.14	0.14	0.16	0.16	0.18	0.19	0.22	0.21	0.22
Net Debt to EBITDA	-2.63	-2.67	-2.80	-2.72	-2.72	-2.87	-3.10	-3.11	-2.98	-3.08	-3.32
Long-Term Debt to EBITDA	0.14	0.15	0.14	0.14	0.16	0.16	0.18	0.19	0.22	0.21	0.22
Debt to NOPAT	0.22	0.23	0.20	0.20	0.23	0.24	0.29	0.30	0.35	0.33	0.33
Net Debt to NOPAT	-3.95	-4.07	-4.04	-3.96	-3.88	-4.24	-5.01	-4.92	-4.79	-4.78	-5.02
Long-Term Debt to NOPAT	0.22	0.23	0.20	0.20	0.23	0.24	0.29	0.30	0.35	0.33	0.33
Altman Z-Score	54.13	51.83	52.13	52.58	48.82	36.35	31.07	38.53	32.01	31.63	25.25
Noncontrolling Interest Sharing Ratio	0.59%	0.62%	0.63%	0.63%	0.63%	0.65%	0.59%	0.58%	0.56%	0.53%	0.47%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.98	4.07	4.30	5.15	5.55	4.76	5.31	5.22	5.26	4.40	5.10
Quick Ratio	3.73	3.00	3.21	3.94	4.31	3.83	4.44	4.36	4.30	3.56	4.19
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-842	-1,102	-1,748	-1,785	-1,486	-1,096	-506	-483	-671	-707	-626
Operating Cash Flow to CapEx	498.80%	263.65%	284.99%	200.55%	109.71%	52.42%	213.97%	373.36%	191.34%	314.58%	226.61%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.50	0.49	0.48	0.50	0.51	0.50	0.49	0.48	0.48	0.47	0.47
Accounts Receivable Turnover	7.42	7.09	7.44	7.52	7.13	6.88	7.56	7.65	7.02	7.22	7.92
Inventory Turnover	2.01	2.01	1.98	2.10	2.19	2.27	2.31	2.56	2.66	2.74	2.77
Fixed Asset Turnover	2.03	2.04	2.10	2.18	2.29	2.41	2.58	2.70	2.83	2.93	3.07
Accounts Payable Turnover	12.19	14.23	12.52	12.74	13.70	14.27	12.70	12.69	14.59	15.11	13.88
Days Sales Outstanding (DSO)	49.20	51.47	49.08	48.52	51.20	53.09	48.28	47.72	51.97	50.59	46.08
Days Inventory Outstanding (DIO)	181.51	181.82	184.73	173.72	166.85	161.10	158.31	142.37	136.96	133.33	131.60
Days Payable Outstanding (DPO)	29.94	25.66	29.15	28.66	26.63	25.58	28.75	28.77	25.02	24.16	26.30
Cash Conversion Cycle (CCC)	200.77	207.64	204.66	193.59	191.41	188.60	177.84	161.33	163.92	159.76	151.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,581	8,166	7,755	7,479	7,130	6,440	5,516	5,233	5,167	4,810	4,635
Invested Capital Turnover	1.11	1.14	1.19	1.19	1.19	1.27	1.35	1.39	1.38	1.45	1.47
Increase / (Decrease) in Invested Capital	1,451	1,726	2,239	2,246	1,963	1,629	880	878	1,003	1,025	948
Enterprise Value (EV)	168,116	177,643	166,747	150,562	133,676	111,907	95,674	113,169	83,464	87,539	60,057
Market Capitalization	176,641	185,911	174,575	157,791	140,508	118,775	102,697	119,815	89,514	93,771	66,937
Book Value per Share	$47.96	$46.14	$43.85	$41.47	$39.50	$37.80	$35.69	$33.90	$32.01	$31.25	$32.25
Tangible Book Value per Share	$44.78	$42.99	$40.99	$38.63	$36.80	$35.00	$32.88	$30.93	$28.98	$28.25	$29.28
Total Capital	17,682	16,998	16,067	15,162	14,453	13,783	13,036	12,365	11,746	11,552	12,027
Total Debt	475	468	389	366	407	386	413	405	452	439	453
Total Long-Term Debt	475	468	389	366	407	386	413	405	452	439	453
Net Debt	-8,627	-8,364	-7,922	-7,317	-6,916	-6,958	-7,108	-6,727	-6,127	-6,302	-6,939
Capital Expenditures (CapEx)	117	312	248	309	242	436	256	178	194	139	169
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,608	1,352	1,307	1,410	1,458	1,006	751	694	877	713	746
Debt-free Net Working Capital (DFNWC)	6,120	5,366	5,539	6,167	6,258	6,229	7,227	6,493	5,570	4,831	5,060
Net Working Capital (NWC)	6,120	5,366	5,539	6,167	6,258	6,229	7,227	6,493	5,570	4,831	5,060
Net Nonoperating Expense (NNE)	-95	-64	-80	-71	-70	-78	-45	-31	-29	-19	-3.14
Net Nonoperating Obligations (NNO)	-8,627	-8,364	-7,922	-7,317	-6,916	-6,958	-7,108	-6,727	-6,127	-6,302	-6,939
Total Depreciation and Amortization (D&A)	132	130	113	101	112	126	117	114	105	118	107
Debt-free, Cash-free Net Working Capital to Revenue	18.46%	16.19%	16.62%	18.61%	19.92%	14.12%	10.96%	10.42%	13.64%	11.46%	12.19%
Debt-free Net Working Capital to Revenue	70.22%	64.24%	70.41%	81.44%	85.50%	87.44%	105.48%	97.43%	86.61%	77.64%	82.70%
Net Working Capital to Revenue	70.22%	64.24%	70.41%	81.44%	85.50%	87.44%	105.48%	97.43%	86.61%	77.64%	82.70%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.95	$1.93	$1.59	$1.48	$1.54	$1.73	$1.18	$1.20	$1.01	$0.91	$0.91
Adjusted Weighted Average Basic Shares Outstanding	357.50M	355.20M	355.80M	355M	353.50M	351.20M	351.70M	350.90M	350.20M	355.70M	355.30M
Adjusted Diluted Earnings per Share	$1.92	$1.89	$1.56	$1.46	$1.51	$1.73	$1.16	$1.18	$1.00	$0.91	$0.90
Adjusted Weighted Average Diluted Shares Outstanding	364.60M	362M	362.70M	361M	360.50M	357.40M	358.20M	357.30M	356M	362M	360.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$1.73	$0.00	$0.00	$0.00	$0.91	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	358.42M	356.66M	356.18M	355.35M	354.71M	352.33M	352.07M	351.35M	350.40M	350.39M	353.38M
Normalized Net Operating Profit after Tax (NOPAT)	405	624	491	461	329	315	375	395	332	318	322
Normalized NOPAT Margin	17.96%	25.87%	24.09%	22.92%	17.38%	16.34%	21.48%	22.51%	19.55%	19.20%	20.65%
Pre Tax Income Margin	29.67%	33.55%	32.92%	32.56%	28.48%	26.75%	29.94%	28.43%	24.87%	23.85%	25.86%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.34%	2.93%	3.14%	3.31%	22.91%	87.53%	162.33%	213.42%	193.95%	115.55%

Frequently Asked Questions About Intuitive Surgical's Financials

When does Intuitive Surgical's financial year end?

According to the most recent income statement we have on file, Intuitive Surgical's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Intuitive Surgical's net income changed over the last 9 years?

Intuitive Surgical's net income appears to be on an upward trend, with a most recent value of $2.34 billion in 2024, rising from $588.80 million in 2015. The previous period was $1.82 billion in 2023. See where experts think Intuitive Surgical is headed by visiting Intuitive Surgical's forecast page.

What is Intuitive Surgical's operating income?

Intuitive Surgical's total operating income in 2024 was $2.35 billion, based on the following breakdown:

Total Gross Profit: $5.63 billion
Total Operating Expenses: $3.29 billion

How has Intuitive Surgical revenue changed over the last 9 years?

Over the last 9 years, Intuitive Surgical's total revenue changed from $2.38 billion in 2015 to $8.35 billion in 2024, a change of 250.3%.

How much debt does Intuitive Surgical have?

Intuitive Surgical's total liabilities were at $2.21 billion at the end of 2024, a 8.3% increase from 2023, and a 276.6% increase since 2015.

How much cash does Intuitive Surgical have?

In the past 9 years, Intuitive Surgical's cash and equivalents has ranged from $648.20 million in 2017 to $2.75 billion in 2023, and is currently $2.03 billion as of their latest financial filing in 2024.

How has Intuitive Surgical's book value per share changed over the last 9 years?

Over the last 9 years, Intuitive Surgical's book value per share changed from 115.60 in 2015 to 46.14 in 2024, a change of -60.1%.

Related Companies

This page (NASDAQ:ISRG) was last updated on 5/27/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Intuitive Surgical (ISRG) Financials

Frequently Asked Questions About Intuitive Surgical's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Intuitive Surgical (ISRG) Financials

Annual Income Statements for Intuitive Surgical

Quarterly Income Statements for Intuitive Surgical

Annual Cash Flow Statements for Intuitive Surgical

Quarterly Cash Flow Statements for Intuitive Surgical

Annual Balance Sheets for Intuitive Surgical

Quarterly Balance Sheets for Intuitive Surgical

Annual Metrics And Ratios for Intuitive Surgical

Quarterly Metrics And Ratios for Intuitive Surgical

Frequently Asked Questions About Intuitive Surgical's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools