Intuitive Surgical

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

                    Revenue
                    FY2025
                
$10.1B
                    3y CAGR +17.4%
                    
                    P96
                    
                    +20.5%
                    
                    Net income
                    FY2025
                
$2.9B
                    Net margin +28.4%
                    
                    P92
                    
                    +23.0%
                    
                    Total assets
                    FY2025
                
$20.5B
                    ROA +14.0%
                    
                    P86
                    
                    +9.2%
                    
                    Operating cash flow
                    FY2025
                
$3.0B
                    FCF margin +24.7%
                    
                    P88
                    
                    +25.5%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

26 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	33.5%	24.3%	38.6%	25.4%	22.6%	37.2%	—	—	20.7%	38.3%
Short Term Investments	25.5%	23.8%	34.7%	40.8%	51.0%	80.0%	—	—	41.9%	56.1%
Accounts Receivable	15.2%	14.7%	15.9%	15.1%	13.7%	14.8%	—	—	16.4%	15.9%
Inventory	18.3%	17.8%	17.1%	14.4%	10.3%	13.8%	—	—	7.7%	6.7%
Prepaid Expenses	4.7%	4.6%	4.4%	4.8%	4.7%	6.1%	—	—	3.1%	3.1%
Total Current Assets	97.2%	85.1%	110.7%	100.5%	102.4%	152.0%	—	—	89.8%	120.2%
Property,Plant and Equipment	53.1%	55.6%	49.7%	38.2%	32.9%	36.2%	—	—	19.6%	17.0%
Goodwill	3.7%	4.2%	4.9%	5.6%	6.0%	7.7%	—	—	6.4%	7.4%
Long Term Investments	30.8%	57.7%	29.8%	42.2%	77.3%	40.3%	—	—	60.3%	84.4%
Deferred Tax Assets	10.1%	12.5%	12.8%	10.7%	7.7%	8.4%	—	—	2.8%	5.6%
Other Noncurrent Assets	8.4%	9.3%	8.9%	11.4%	11.1%	11.6%	—	—	5.1%	5.3%
Total Assets	203.3%	224.4%	216.8%	208.5%	237.4%	256.3%	—	—	184.0%	239.9%
Liabilities
Accounts Payable	2.5%	2.3%	2.6%	2.4%	2.1%	1.9%	—	—	2.6%	2.5%
Accrued Liabilities	12.4%	13.0%	14.4%	14.1%	11.4%	12.2%	—	—	10.8%	10.6%
Deferred Revenue	5.0%	5.6%	6.3%	6.4%	6.6%	8.0%	—	—	9.1%	8.9%
Total Current Liabilities	19.9%	20.9%	23.3%	22.9%	20.1%	22.1%	—	—	22.5%	22.1%
Other Noncurrent Liabilities	5.1%	5.6%	5.4%	7.1%	7.9%	10.2%	—	—	10.5%	4.2%
Total Liabilities	25.0%	26.5%	28.7%	29.9%	28.1%	32.3%	—	—	33.0%	26.2%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	0.0%	0.0%
Additional Paid In Capital	107.0%	115.9%	120.4%	123.8%	125.5%	147.9%	—	—	149.5%	155.7%
Retained Earnings	69.7%	81.5%	66.6%	56.3%	83.4%	74.8%	—	—	2.0%	58.2%
Accumulated Other Comprehensive Income	0.4%	-0.6%	-0.2%	-2.6%	-0.4%	0.6%	—	—	-0.5%	-0.3%
Total Stockholders Equity	177.1%	196.8%	186.8%	177.5%	208.4%	223.3%	—	—	151.0%	213.6%
Noncontrolling Interest	1.2%	1.1%	1.3%	1.1%	0.9%	0.6%	—	—	0.1%	0.0%
Total Liabilitiesand Equity	203.3%	224.4%	216.8%	208.5%	237.4%	256.3%	—	—	184.0%	239.9%

Income Statement

Revenue, expense, and profitability

16 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	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	—	—	100.0%	100.0%
Expenses Cost of Revenue	34.0%	32.5%	33.6%	32.6%	30.7%	34.4%	—	—	29.9%	30.1%
Other Income Expense Gross Profit	66.0%	67.5%	66.4%	67.4%	69.3%	65.6%	—	—	70.1%	69.9%
Expenses Research and Development	13.0%	13.7%	14.0%	14.1%	11.8%	13.7%	—	—	10.5%	8.9%
Expenses Selling,General and Administrative	23.7%	25.6%	27.6%	28.0%	25.7%	27.9%	—	—	25.9%	26.1%
Expenses Operating Expenses	36.7%	39.3%	41.6%	42.1%	37.4%	41.6%	—	—	36.4%	34.9%
Other Income Expense Operating Income	29.3%	28.1%	24.8%	25.3%	31.9%	24.1%	—	—	33.7%	35.0%
Other Income Expense Interest Income	3.6%	3.9%	2.7%	0.5%	1.2%	3.6%	—	—	1.3%	1.3%
Other Income Expense Income Before Tax	32.9%	32.0%	27.5%	25.8%	33.1%	27.7%	—	—	35.0%	36.3%
Income Tax Income Tax Expense	4.3%	4.0%	2.0%	4.2%	2.8%	3.2%	—	—	14.0%	9.1%
net Income Other Items Below Tax	-0.2%	-0.2%	-0.3%	-0.4%	-0.4%	-0.1%	—	—	—	—
net Income net Income	28.4%	27.8%	25.2%	21.3%	29.9%	24.3%	—	—	21.1%	27.2%
net Income Comprehensive Income	29.3%	27.3%	27.3%	19.0%	29.0%	24.6%	—	—	20.9%	27.2%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	3.6%	4.3%	5.0%	5.8%	6.4%	8.3%	—	—	3.7%	1.5%

Cash Flow Statement

Operating, investing, and financing flows

20 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	28.6%	28.0%	25.5%	21.6%	30.3%	24.5%	—	—	21.4%	27.3%
Operating Activities Depreciation and Amortization	6.1%	5.3%	5.6%	5.9%	5.4%	6.3%	—	—	3.2%	3.4%
Operating Activities Stock Based Compensation	7.8%	8.1%	8.3%	8.2%	7.9%	9.1%	—	—	6.7%	6.6%
Operating Activities Deferred Income Taxes	0.2%	-1.6%	-3.9%	-3.0%	-1.1%	1.3%	—	—	1.9%	1.9%
Operating Activities Changes In Operating Assets and Liabilities	-12.6%	-11.0%	-10.9%	-9.9%	-6.4%	-6.3%	—	—	2.3%	-0.7%
Operating Activities Other Non Cash Items	0.0%	0.1%	0.8%	1.2%	0.6%	-0.9%	—	—	1.0%	1.7%
Operating Activities net Cash From Operating Activities	30.1%	28.9%	25.5%	24.0%	36.6%	34.1%	—	—	36.6%	40.2%
Investing Activities Capital Expenditures	-5.4%	-13.3%	-14.9%	-8.6%	-5.9%	-7.8%	—	—	-6.1%	-2.0%
Investing Activities Business Acquisitions	-0.1%	-0.0%	-0.1%	-0.2%	-0.4%	-0.9%	—	—	0.0%	0.0%
Investing Activities Purchases of Investments	-12.1%	-61.5%	-31.0%	-22.5%	-113.0%	-98.5%	—	—	-63.8%	-95.6%
Investing Activities Proceeds From Sale of Investments	24.2%	35.7%	41.0%	53.3%	76.2%	85.6%	—	—	82.0%	50.3%
Investing Activities net Cash From Investing Activities	6.6%	-39.2%	-5.1%	22.0%	-43.1%	-21.6%	—	—	12.1%	-47.3%
Financing Activities Repurchase of Common Stock	-22.8%	0.0%	-5.8%	-41.9%	0.0%	-3.1%	—	—	-72.7%	-1.6%
Financing Activities Dividends Paid	0.0%	-0.1%	0.0%	0.0%	—	—	—	—	—	—
Financing Activities Proceeds From Stock Issuance	3.5%	5.1%	4.2%	3.8%	4.8%	7.1%	—	—	13.3%	21.5%
Financing Activities Tax Withholding On Stock Based Compensation	-4.2%	-3.2%	-2.3%	-3.1%	-3.7%	-4.0%	—	—	-1.8%	-0.9%
Financing Activities Other Financing Activities	0.0%	-0.0%	-0.0%	-0.1%	-0.4%	-2.0%	—	—	0.0%	0.0%
Financing Activities net Cash From Financing Activities	-23.5%	1.8%	-4.0%	-41.3%	0.8%	-2.0%	—	—	-61.1%	19.0%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.0%	0.0%	0.1%	-0.1%	-0.1%	—	—	0.1%	0.0%
Cash Reconciliation net Change In Cash	13.4%	-8.5%	16.4%	4.7%	-5.8%	10.5%	—	—	-12.4%	11.9%

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%	—	—	+70.1%	+69.9%
Operating margin	+29.3%	+28.1%	+24.8%	+25.3%	+31.9%	+24.1%	—	—	+33.7%	+35.0%
Net margin	+28.4%	+27.8%	+25.2%	+21.3%	+29.9%	+24.3%	—	—	+21.1%	+27.2%
FCF margin	+24.7%	+15.6%	+10.5%	+15.4%	+30.6%	+26.2%	—	—	+30.5%	+38.2%
Growth
Revenue CAGR (3y)	+17.4%	+13.5%	+17.8%	—	—	+11.7%	—	—	+13.6%	+6.1%
Returns
ROE	+16.0%	+14.1%	+13.5%	+12.0%	+14.3%	+10.9%	—	—	+14.0%	+12.7%
ROA	+14.0%	+12.4%	+11.6%	+10.2%	+12.6%	+9.5%	—	—	+11.5%	+11.3%
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	—	—	0.54x	0.42x
Cash conversion cycle	+224d	+227d	+215d	+190d	+147d	+181d	—	—	+122d	+109d

Valuation

Price against fundamentals

FY2025 fundamentals · no price

No price data cached, so there is nothing to multiply. Load prices from the Stock Data tab and this panel reprices itself.

Notes

Your annotations

Not watched

Intuitive Surgical

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

Your annotations

One-year price and volume history

Price data unavailable

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

Your annotations

One-year price and volume history

Price data unavailable

Recent price history