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Intuitive Surgical (ISRG) | Financial Analysis & Statements

Intuitive Surgical, Inc. | Large-cap | Healthcare

$480.26

0.67%

Intuitive Surgical vs Becton, Dickinson Intuitive Surgical vs Alcon Intuitive Surgical vs ResMed Intuitive Surgical vs West Pharmaceutical Intuitive Surgical vs Hologic Intuitive Surgical vs S&P 500 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Jun 2025

Income Metrics

Revenue 2.4B

Gross Profit 1.6B 66.31%

Operating Income 743.4M 30.47%

Net Income 664.2M 27.22%

EPS (Diluted) $1.81

Balance Sheet Metrics

Total Assets 19.2B

Total Liabilities 2.0B

Shareholders Equity 17.2B

Debt to Equity 0.12

Cash Flow Metrics

Operating Cash Flow 833.1M

Free Cash Flow 465.0M

Revenue & Profitability Trend

Interactive Financial Charts Not Available

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Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

Intuitive Surgical Income Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Revenue i	8.4B	7.1B	6.2B	5.7B	4.4B
Cost of Goods Sold i	2.7B	2.4B	2.0B	1.8B	1.5B
Gross Profit i	5.6B	4.7B	4.2B	4.0B	2.9B
Gross Margin % i	67.5%	66.4%	67.4%	69.3%	65.6%
Operating Expenses
Research & Development i	1.1B	998.8M	879.0M	671.0M	595.1M
Selling, General & Administrative i	2.1B	2.0B	1.7B	1.5B	1.2B
Other Operating Expenses i	-	-	-	-	-
Total Operating Expenses i	3.3B	3.0B	2.6B	2.1B	1.8B
Operating Income i	2.3B	1.8B	1.6B	1.8B	1.0B
Operating Margin % i	28.1%	24.8%	25.3%	31.9%	24.1%
Non-Operating Items
Interest Income i	324.9M	192.1M	29.7M	69.3M	157.2M
Interest Expense i	-	-	-	-	-
Other Non-Operating Income	-	-	-	-	-
Pre-tax Income i	2.7B	2.0B	1.6B	1.9B	1.2B
Income Tax i	336.3M	141.6M	262.4M	162.2M	140.2M
Effective Tax Rate % i	12.6%	7.2%	16.3%	8.6%	11.6%
Net Income i	2.3B	1.8B	1.3B	1.7B	1.1B
Net Margin % i	28.0%	25.5%	21.6%	30.3%	24.5%
Key Metrics
EBITDA i	2.8B	2.2B	1.9B	2.1B	1.3B
EPS (Basic) i	$6.54	$5.12	$3.72	$4.79	$3.02
EPS (Diluted) i	$6.42	$5.03	$3.65	$4.66	$2.94
Basic Shares Outstanding i	355200000	351200000	355700000	356100000	351000000
Diluted Shares Outstanding i	355200000	351200000	355700000	356100000	351000000

Income Statement Trend

Intuitive Surgical Balance Sheet From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Assets
Current Assets
Cash & Equivalents i	2.0B	2.8B	1.6B	1.3B	1.6B
Short-term Investments i	2.0B	2.5B	2.5B	2.9B	3.5B
Accounts Receivable i	1.2B	1.1B	942.1M	782.7M	645.5M
Inventory i	1.5B	1.2B	893.2M	587.1M	601.5M
Other Current Assets	253.7M	176.7M	168.6M	133.9M	-
Total Current Assets i	7.1B	7.9B	6.3B	5.8B	6.6B
Non-Current Assets
Property, Plant & Equipment i	1.6B	1.1B	806.4M	616.1M	419.9M
Goodwill i	718.0M	736.5M	746.8M	757.7M	750.8M
Intangible Assets i	23.0M	39.1M	49.8M	70.5M	77.4M
Long-term Investments	-	-	-	-	-
Other Non-Current Assets	1.8B	1.5B	1.3B	1.0B	793.9M
Total Non-Current Assets i	11.6B	7.6B	6.7B	7.7B	4.5B
Total Assets i	18.7B	15.4B	13.0B	13.6B	11.2B
Liabilities
Current Liabilities
Accounts Payable i	193.4M	188.7M	147.0M	121.2M	81.6M
Short-term Debt i	-	-	-	-	-
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	-	-	-	-	-
Total Current Liabilities i	1.7B	1.7B	1.4B	1.1B	965.2M
Non-Current Liabilities
Long-term Debt i	-	-	-	87.0M	-
Deferred Tax Liabilities i	-	-	-	-	-
Other Non-Current Liabilities	175.2M	106.1M	110.3M	100.3M	106.9M
Total Non-Current Liabilities i	468.3M	385.5M	439.3M	453.7M	444.6M
Total Liabilities i	2.2B	2.0B	1.9B	1.6B	1.4B
Equity
Common Stock i	400.0K	400.0K	400.0K	400.0K	400.0K
Retained Earnings i	6.8B	4.7B	3.5B	4.8B	3.3B
Treasury Stock i	-	-	-	-	-
Other Equity	-	-	-	-	-
Total Shareholders Equity i	16.5B	13.4B	11.1B	12.0B	9.8B
Key Metrics
Total Debt i	0	0	0	87.0M	0
Working Capital i	5.4B	6.2B	4.8B	4.7B	5.7B

Balance Sheet Composition

Intuitive Surgical Cash Flow Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Operating Activities
Net Income i	2.3B	1.8B	1.3B	1.7B	1.1B
Depreciation & Amortization i	462.0M	421.8M	365.8M	310.2M	276.2M
Stock-Based Compensation i	676.8M	592.8M	513.2M	449.2M	395.4M
Working Capital Changes i	-687.5M	-801.8M	-489.9M	-163.2M	-161.4M
Operating Cash Flow i	2.7B	1.8B	1.6B	2.3B	1.7B
Investing Activities
Capital Expenditures i	-1.1B	-1.1B	-532.4M	-339.5M	-341.5M
Acquisitions i	-1.0M	-8.9M	-12.8M	-22.7M	-37.7M
Investment Purchases i	-5.1B	-2.2B	-1.4B	-6.5B	-4.3B
Investment Sales i	3.0B	2.9B	3.3B	4.4B	3.7B
Investing Cash Flow i	-3.3B	-360.1M	1.4B	-2.5B	-940.6M
Financing Activities
Share Repurchases i	0	-416.3M	-2.6B	0	-134.3M
Dividends Paid i	-	-	-	-	-
Debt Issuance i	-	-	-	-	-
Debt Repayment i	-	-	-	-	-
Financing Cash Flow i	-278.5M	-583.9M	-2.8B	-233.5M	-394.5M
Free Cash Flow i	1.3B	749.6M	958.4M	1.7B	1.1B
Net Change in Cash i	-860.1M	838.3M	139.5M	-411.3M	316.6M

Cash Flow Trend

Intuitive Surgical Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 67.08

Forward P/E 61.10

Price to Book 9.65

Price to Sales 18.83

PEG Ratio 2.76

Profitability Ratios

Profit Margin 28.51%

Operating Margin 30.47%

Return on Equity 16.04%

Return on Assets 9.02%

Financial Health

Current Ratio 5.17

Debt to Equity 0.00

Beta 1.60

Per Share Data

EPS (TTM) $7.16

Book Value per Share $49.79

Revenue per Share $25.61

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
isrg	172.2B	67.08	9.65	16.04%	28.51%	0.00
Becton, Dickinson	56.2B	35.82	2.20	6.18%	7.41%	75.93
Alcon	45.8B	40.84	2.07	5.23%	11.28%	23.63
ResMed	41.7B	29.93	6.99	25.86%	27.22%	14.27
West Pharmaceutical	17.7B	36.91	6.04	17.72%	16.48%	10.52
Hologic	15.1B	28.14	3.11	11.38%	13.79%	52.09

Financial data is updated regularly. All figures are in the company's reporting currency.