Intuitive Surgical

Health Care Health Care Equipment Sunnyvale, California Last filing Feb 3, 2026 · FY2025

                    Revenue
                    FY2025
                
$10.1B
                    3y CAGR +17.4%
                    
                    P97
                    
                    +20.5%
                    
                    Net income
                    FY2025
                
$2.9B
                    Net margin +28.4%
                    
                    P92
                    
                    +23.0%
                    
                    Total assets
                    FY2025
                
$20.5B
                    ROA +14.0%
                    
                    P87
                    
                    +9.2%
                    
                    Operating cash flow
                    FY2025
                
$3.0B
                    
                    +25.5%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 10 years

Total assets $20.5B

Total liabilities $2.5B

Shareholders equity $17.8B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+14.0%	+8.7%	+15.0%	+7.3%	+4.5%	+11.9%	+4.0%	-9.0%	-37.5%	—
Short Term Investments	—	—	—	—	—	—	—	—	—	—
Accounts Receivable	+15.1%	+14.0%	+14.8%	+14.0%	+12.7%	+10.7%	+14.5%	+25.9%	+19.0%	—
Inventory	+29.3%	+30.0%	+31.2%	+30.3%	+26.4%	+34.8%	+48.4%	+49.8%	+32.3%	—
Prepaid Expenses	+21.4%	+21.1%	+20.9%	+23.8%	+26.6%	+33.9%	+33.9%	+46.5%	+16.7%	—
Total Current Assets	+13.0%	+10.3%	+13.5%	+11.5%	+12.5%	+19.5%	+12.8%	+15.5%	-13.5%	—
Property,Plant and Equipment	+31.4%	+33.6%	+33.9%	+31.5%	+32.6%	+36.2%	+40.6%	+33.1%	+33.7%	—
Goodwill	+7.0%	+7.1%	+8.2%	+9.6%	+11.3%	+13.8%	+15.2%	+9.4%	+0.0%	—
Intangible Assets	-6.6%	-3.9%	+3.1%	+7.9%	+17.5%	+25.2%	+52.7%	+45.5%	-17.5%	—
Deferred Tax Assets	+21.4%	+24.8%	+26.3%	+24.6%	+19.9%	+19.9%	+42.0%	+63.4%	-34.0%	—
Other Noncurrent Assets	—	—	—	—	—	—	—	—	—	—
Total Assets	+13.6%	+14.2%	+13.2%	+12.2%	+15.9%	+14.5%	+14.5%	+10.0%	-11.2%	—
Liabilities
Accounts Payable	+15.7%	+13.9%	+15.6%	+13.6%	+12.1%	+4.5%	+21.7%	+21.2%	+20.4%	—
Accrued Liabilities	+11.8%	+10.5%	+12.0%	+12.1%	+9.3%	+10.6%	+8.6%	-4.5%	-38.0%	—
Deferred Revenue	+8.6%	+8.7%	+9.2%	+8.7%	+9.4%	+9.8%	+12.0%	+10.6%	+18.2%	—
Other Current Liabilities	—	—	—	—	—	—	—	—	—	—
Total Current Liabilities	+14.4%	+14.4%	+15.7%	+15.6%	+14.0%	+12.8%	+20.0%	+17.3%	+18.0%	—
Deferred Revenue Noncurrent	—	—	—	—	—	—	—	—	—	—
Other Noncurrent Liabilities	+18.3%	+19.5%	+19.2%	+25.5%	+32.1%	+41.0%	+54.9%	+73.4%	+190.5%	—
Total Liabilities	+15.1%	+15.3%	+16.3%	+17.5%	+17.7%	+18.7%	+26.9%	+27.9%	+45.4%	—
Equity
Preferred Stock	—	—	—	—	—	—	—	—	—	—
Common Stock	—	—	—	—	—	—	—	—	—	—
Additional Paid In Capital	+11.0%	+11.0%	+10.7%	+10.6%	+11.2%	+11.2%	+11.0%	+10.8%	+11.1%	—
Retained Earnings	+18.0%	+20.1%	+17.1%	+14.2%	+24.8%	+20.0%	+16.6%	-1.7%	-96.1%	—
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Noncontrolling Interest	—	—	—	—	—	—	—	—	—	—
Total Stockholders Equity	+13.3%	+14.0%	+12.7%	+11.4%	+15.5%	+13.9%	+12.7%	+7.5%	-18.2%	—
Total Liabilitiesand Equity	+13.6%	+14.2%	+13.2%	+12.2%	+15.9%	+14.5%	+14.5%	+10.0%	-11.2%	—

Income Statement

Revenue, expense, and profitability

18 accounts · 10 years

Revenue $10.1B

Operating income $2.9B

Net income $2.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+15.7%	+15.1%	+14.8%	+14.9%	+16.1%	+12.6%	+18.3%	+17.3%	+16.0%	—
Expenses Cost of Revenue	+17.3%	+16.3%	+16.7%	+16.4%	+16.6%	+16.5%	+18.9%	+17.3%	+15.1%	—
Expenses Research and Development	+20.8%	+21.6%	+22.6%	+24.2%	+22.9%	+25.5%	+32.5%	+32.1%	+37.1%	—
Expenses Selling,General and Administrative	+14.5%	+14.9%	+15.8%	+16.3%	+15.8%	+14.7%	+18.8%	+18.4%	+15.2%	—
Expenses Depreciation and Amortization	-3.5%	-1.1%	+1.5%	+7.3%	+8.5%	+28.6%	+33.2%	-11.7%	-29.1%	—
Expenses Share Based Compensation	+18.0%	+18.2%	+18.8%	+19.3%	+20.4%	+22.2%	+23.7%	+21.3%	+17.7%	—
Expenses Operating Expenses	+16.4%	+16.9%	+17.8%	+18.6%	+17.8%	+17.7%	+22.5%	+22.0%	+20.8%	—
Other Income Expense Gross Profit	+15.0%	+14.6%	+14.0%	+14.2%	+15.9%	+10.9%	+18.0%	+17.3%	+16.3%	—
Other Income Expense Operating Income	+13.4%	+12.0%	+9.3%	+8.8%	+13.9%	+2.5%	+13.1%	+12.4%	+11.9%	—
Other Income Expense Other Income/expense	+29.5%	+31.8%	+27.2%	-3.0%	+14.3%	+45.0%	+53.1%	+50.0%	+17.7%	—
Other Income Expense Income Before Tax	+14.4%	+13.3%	+10.3%	+8.5%	+13.9%	+5.2%	+15.1%	+14.0%	+12.1%	—
Income Tax Income Tax Expense	+6.5%	+3.9%	-7.6%	+1.0%	-8.1%	-13.2%	-21.3%	-20.9%	+75.7%	—
net Income net Income	+16.2%	+15.4%	+13.6%	+10.2%	+18.2%	+9.5%	+23.2%	+23.6%	-9.1%	—
net Income Comprehensive Income	+16.6%	+15.1%	+14.9%	+8.2%	+17.5%	+9.8%	+23.9%	+23.7%	-10.1%	—
Earnings Per Share Basic Eps	+2.5%	+0.2%	-3.2%	-8.7%	-5.7%	-17.2%	-14.8%	+24.2%	-6.5%	—
Earnings Per Share Diluted Eps	+2.6%	+0.3%	-3.1%	-8.6%	-5.7%	-17.2%	-15.0%	+23.1%	-7.8%	—
Earnings Per Share Weighted Average Shares Basic	+13.4%	+15.2%	+17.3%	+20.7%	+25.4%	+32.2%	+44.4%	-0.5%	-2.8%	—
Earnings Per Share Weighted Average Shares Diluted	+13.3%	+15.1%	+17.2%	+20.6%	+25.4%	+32.3%	+44.9%	+0.4%	-1.4%	—

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 10 years

Operating cash flow $3.0B

Investing cash flow $665.8M

Financing cash flow $-2.4B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	+16.2%	+15.4%	+13.6%	+10.2%	+18.2%	+9.5%	+23.2%	+23.6%	-9.1%	—
Operating Activities Depreciation and Amortization	+26.8%	+25.6%	+27.3%	+29.0%	+31.7%	+33.0%	+30.5%	+22.4%	+16.1%	—
Operating Activities Stock Based Compensation	+18.0%	+18.2%	+18.8%	+19.3%	+20.4%	+22.2%	+23.7%	+21.3%	+17.7%	—
Operating Activities Deferred Income Taxes	-1.2%	—	—	—	—	+28.4%	—	+26.6%	+183.5%	—
Operating Activities Changes In Operating Assets and Liabilities	+30.8%	+29.5%	+30.5%	+34.2%	+34.9%	+14.6%	+48.0%	+98.1%	+95.5%	—
Operating Activities Other Non Cash Items	-4.9%	+9.2%	—	+14.6%	-0.9%	-9.0%	-39.5%	-16.9%	+308.6%	—
Operating Activities net Cash From Operating Activities	+12.1%	+10.5%	+7.6%	+5.4%	+14.0%	+8.1%	+13.7%	+3.7%	+5.2%	—
Investing Activities Business Acquisitions	—	—	—	—	—	—	—	—	—	—
Investing Activities Purchases of Investments	-8.0%	+9.0%	-2.2%	-9.7%	+20.1%	+13.5%	+9.0%	-0.1%	-22.8%	—
Investing Activities Proceeds From Sale of Investments	+21.0%	+28.4%	+31.8%	+42.4%	+61.4%	+19.7%	-35.0%	-16.2%	+377.4%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Repurchase of Common Stock	+55.8%	—	+38.5%	+98.6%	—	+33.3%	+85.1%	—	+5250.6%	—
Financing Activities Proceeds From Stock Issuance	-10.1%	-7.4%	-14.6%	-20.6%	-19.1%	-14.6%	-22.3%	-36.1%	-28.5%	—
Financing Activities Tax Withholding On Stock Based Compensation	+37.4%	+35.3%	+31.7%	+41.7%	+54.5%	+64.4%	+87.9%	+123.6%	+135.8%	—
Financing Activities net Cash From Financing Activities	—	-14.2%	—	—	-39.1%	—	—	-50.4%	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	+17.2%	—	+20.2%	-1.5%	—	+9.1%	-5.3%	-12.6%	—	—
Cash Reconciliation Cash At Beginning of Period	+14.0%	+8.8%	+14.8%	+7.3%	+4.4%	+11.7%	+4.0%	-7.0%	-36.9%	—
Cash Reconciliation Cash At End of Period	+14.0%	+8.8%	+14.8%	+7.3%	+4.4%	+11.7%	+4.0%	-7.0%	-36.9%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+66.0%	+67.5%	+66.4%	+67.4%	+69.3%	+65.6%	+69.4%	+69.9%	+70.2%	+69.9%
Operating margin	+29.3%	+28.1%	+24.8%	+25.3%	+31.9%	+24.1%	+30.7%	+32.2%	+33.9%	+35.1%
Net margin	+28.4%	+27.8%	+25.2%	+21.3%	+29.9%	+24.3%	+30.8%	+30.3%	+21.4%	+27.3%
FCF margin	—	—	—	—	—	—	—	—	—	—
Growth
Revenue CAGR (3y)	+17.4%	+13.5%	+17.8%	+11.6%	+15.3%	+11.6%	+18.3%	+16.0%	+13.8%	+6.1%
Returns
ROE	+16.0%	+14.1%	+13.5%	+12.0%	+14.3%	+10.9%	+16.7%	+16.9%	+14.2%	+12.8%
ROA	+14.0%	+12.4%	+11.6%	+10.2%	+12.6%	+9.5%	+14.2%	+14.4%	+11.7%	+11.4%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	4.87x	4.07x	4.76x	4.40x	5.08x	6.86x	4.53x	5.28x	3.99x	5.45x
Quick ratio	2.44x	1.86x	2.34x	1.77x	1.80x	2.35x	1.76x	1.88x	1.65x	2.46x
Leverage
D/E	0.14x	0.13x	0.15x	0.17x	0.13x	0.14x	0.18x	0.17x	0.22x	0.12x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	0.49x	0.45x	0.46x	0.48x	0.42x	0.39x	0.46x	0.47x	0.55x	0.42x
Cash conversion cycle	+224d	+227d	+215d	+190d	+147d	+181d	+178d	+167d	+121d	+109d

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Intuitive Surgical

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