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 · 3 years

Total assets $20.5B

Total liabilities $2.5B

Shareholders equity $17.8B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	+10.7%	-26.3%	—
Short Term Investments	—	—	—
Accounts Receivable	+16.2%	+8.4%	—
Inventory	+22.8%	+21.8%	—
Prepaid Expenses	+23.3%	+22.6%	—
Total Current Assets	+11.3%	-9.9%	—
Property,Plant and Equipment	+22.9%	+31.3%	—
Goodwill	+3.1%	-0.3%	—
Intangible Assets	-33.9%	-41.2%	—
Deferred Tax Assets	+5.8%	+14.8%	—
Other Noncurrent Assets	—	—	—
Total Assets	+15.1%	+21.4%	—
Liabilities
Accounts Payable	+16.3%	+2.5%	—
Accrued Liabilities	+11.3%	+0.9%	—
Deferred Revenue	+6.6%	+5.1%	—
Other Current Liabilities	+0.7%	-6.8%	—
Total Current Liabilities	+10.0%	+5.2%	—
Deferred Revenue Noncurrent	+41.6%	+18.6%	—
Other Noncurrent Liabilities	+15.1%	+21.5%	—
Total Liabilities	+11.0%	+8.3%	—
Equity
Preferred Stock	—	—	—
Common Stock	+0.0%	+0.0%	—
Additional Paid In Capital	+12.1%	+12.9%	—
Retained Earnings	+21.6%	+43.4%	—
Accumulated Other Comprehensive Income	—	—	—
Noncontrolling Interest	+14.5%	+6.9%	—
Total Stockholders Equity	+15.7%	+23.5%	—
Total Liabilitiesand Equity	+15.1%	+21.4%	—

Income Statement

Revenue, expense, and profitability

18 accounts · 3 years

Revenue $10.1B

Operating income $2.9B

Net income $2.9B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	+18.9%	+17.2%	—
Expenses Cost of Revenue	+19.5%	+13.5%	—
Expenses Research and Development	+14.6%	+14.7%	—
Expenses Selling,General and Administrative	+10.2%	+9.0%	—
Expenses Depreciation and Amortization	-19.2%	-17.3%	—
Expenses Share Based Compensation	+15.3%	+14.2%	—
Expenses Operating Expenses	+11.7%	+10.9%	—
Other Income Expense Gross Profit	+18.5%	+19.1%	—
Other Income Expense Operating Income	+29.1%	+32.9%	—
Other Income Expense Other Income/expense	+38.0%	+69.1%	—
Other Income Expense Income Before Tax	+30.0%	+36.5%	—
Income Tax Income Tax Expense	+75.2%	+137.5%	—
net Income net Income	+26.0%	+29.2%	—
net Income Comprehensive Income	+23.1%	+17.2%	—
Earnings Per Share Basic Eps	+25.0%	+27.7%	—
Earnings Per Share Diluted Eps	+25.1%	+27.6%	—
Earnings Per Share Weighted Average Shares Basic	+0.8%	+1.1%	—
Earnings Per Share Weighted Average Shares Diluted	+0.7%	+1.3%	—

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 3 years

Operating cash flow $3.0B

Investing cash flow $665.8M

Financing cash flow $-2.4B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	+26.0%	+29.2%	—
Operating Activities Depreciation and Amortization	+25.3%	+14.9%	—
Operating Activities Stock Based Compensation	+15.3%	+14.2%	—
Operating Activities Deferred Income Taxes	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	+31.8%	+22.6%	—
Operating Activities Other Non Cash Items	—	—	—
Operating Activities net Cash From Operating Activities	+29.3%	+33.1%	—
Investing Activities Business Acquisitions	+25.0%	-88.8%	—
Investing Activities Purchases of Investments	-25.8%	+132.8%	—
Investing Activities Proceeds From Sale of Investments	-10.1%	+7.0%	—
Investing Activities net Cash From Investing Activities	—	—	—
Financing Activities Repurchase of Common Stock	+134.8%	—	—
Financing Activities Proceeds From Stock Issuance	+7.8%	+64.1%	—
Financing Activities Tax Withholding On Stock Based Compensation	+59.5%	+63.9%	—
Financing Activities net Cash From Financing Activities	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	+96.9%	—	—
Cash Reconciliation net Change In Cash	+7.2%	—	—
Cash Reconciliation Cash At Beginning of Period	+10.9%	-25.5%	—
Cash Reconciliation Cash At End of Period	+10.9%	-25.5%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+66.0%	+67.5%	+66.4%
Operating margin	+29.3%	+28.1%	+24.8%
Net margin	+28.4%	+27.8%	+25.2%
FCF margin	—	—	—
Growth
Revenue CAGR (3y)	+17.4%	+13.5%	+17.8%
Returns
ROE	+16.0%	+14.1%	+13.5%
ROA	+14.0%	+12.4%	+11.6%
ROIC	—	—	—
Liquidity
Current ratio	4.87x	4.07x	4.76x
Quick ratio	2.44x	1.86x	2.34x
Leverage
D/E	0.14x	0.13x	0.15x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.49x	0.45x	0.46x
Cash conversion cycle	+224d	+227d	+215d

Valuation

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FY2025 fundamentals · no price

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Intuitive Surgical

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