INTUITIVE SURGICAL INC

ISRG 10-K · FY 2025

ISRG FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 10,064.7 8,352.1 +20.5%
Show Product Lines breakouts
Instruments and accessories 6,018.9 5,079 +18.5%
Instruments and accessories · Geographic Distribution Domestic 4,203.4 3,626.4 +15.9%
Instruments and accessories · Geographic Distribution Foreign 1,815.5 1,452.6 +25.0%
Product 8,492.6 7,045 +20.5%
Service 1,572.1 1,307.1 +20.3%
Service · Geographic Distribution Domestic 1,030.6 840.4 +22.6%
Service · Geographic Distribution Foreign 541.5 466.7 +16.0%
Systems 2,473.7 1,966 +25.8%
Systems · Geographic Distribution Domestic 1,581.8 1,122.6 +40.9%
Systems · Geographic Distribution Foreign 891.9 843.4 +5.8%
Show Geographic Distribution breakouts
Geographic Distribution Domestic 6,815.8 5,589.4 +21.9%
Geographic Distribution Foreign 3,248.9 2,762.7 +17.6%
Cost of Revenue 3,422.4 2,717.9 +25.9%
Show Product Lines breakouts
Product 2,866.1 2,313.1 +23.9%
Service 556.3 404.8 +37.4%
Gross Profit 6,642.3 5,634.2 +17.9%
Selling, General & Administrative 2,385 2,140 +11.4%
Research & Development 1,311.8 1,145.3 +14.5%
Operating Expenses 3,696.8 3,285.3 +12.5%
Operating Income 2,945.5 2,348.9 +25.4%
Non-Operating Income (Expense) 365.9 324.9 +12.6%
Income Before Taxes 3,311.4 2,673.8 +23.8%
Income Tax Expense (Benefit) 434.8 336.3 +29.3%
Net Income 2,876.6 2,337.5 +23.1%
Net Income Loss Attributable To Noncontrolling Interest 20.6 14.9 +38.3%
Show Equity Components breakouts
Noncontrolling Interest 20.6 14.9 +38.3%
Show Related Party Transactions By Related Party breakouts
Corporate Joint Venture 20.6 14.9 +38.3%
Net Income 2,856 2,322.6 +23.0%
Show Equity Components breakouts
Parent 2,856 2,322.6 +23.0%
Retained Earnings 2,856 2,322.6 +23.0%
EPS (Basic) 8 6.54 +22.3%
EPS (Diluted) 7.87 6.42 +22.6%
Wtd Avg Shares (Basic) 356.9 355.2 +0.5%
Wtd Avg Shares (Diluted) 362.7 362 +0.2%
Comprehensive Income 2,950.6 2,283.5 +29.2%
Other Comprehensive Income (FY)
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -6.1 -15.2 +59.9%
Accumulated Gain Loss Net Cash Flow Hedge Parent -7 13.5 -151.9%
Accumulated Net Unrealized Investment Gain Loss 45.1 15.1 +198.7%
Accumulated Other Comprehensive Income 94.6 -39.1 +341.9%
Accumulated Translation Adjustment 62.6 -52.5 +219.2%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax -6.7 5.7 -217.5%
Foreign Currency Transaction Gain Loss Before Tax -7.5 -45.9 +83.7%
Operating Lease Lease Income 874.3 654.2 +33.6%
Show Deferred Revenue Arrangement Type breakouts
Variable Lease Revenue, Usage-Based Arrangements 530.9 338.4 +56.9%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 3,368 2,027.4 +66.1%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 2,852.1 1,548 +84.2%
Fair Value Inputs Level1 · Money Market Funds 2,287 1,516.1 +50.8%
Fair Value Inputs Level1 · US Treasury Securities 565.1 31.9 +1671.5%
Fair Value Inputs Level2 1
Fair Value Inputs Level2 · Corporate Debt Securities 1
Show Financial Instrument breakouts
Cash 514.9 479.4 +7.4%
Marketable Securities (Current) 2,566.9 1,985.9 +29.3%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 2,345.5 1,637.4 +43.2%
Fair Value Inputs Level1 · US Treasury Securities 2,345.5 1,637.4 +43.2%
Fair Value Inputs Level2 221.4 348.5 -36.5%
Fair Value Inputs Level2 · Corporate Debt Securities 78.4 189.7 -58.7%
Fair Value Inputs Level2 · US Government Agencies Debt Securities 143 154.2 -7.3%
Accounts Receivable 1,527.3 1,225.4 +24.6%
Inventory 1,840 1,487.2 +23.7%
Prepaid Expenses & Other Current Assets 477.3 385.1 +23.9%
Total Current Assets 9,779.5 7,111 +37.5%
Non-Current Assets
Property, Plant & Equipment 5,342.4 4,646.6 +15.0%
Marketable Securities (Non-Current) 3,099.2 4,819.1 -35.7%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 2,821.8 4,327.9 -34.8%
Fair Value Inputs Level1 · US Treasury Securities 2,821.8 4,327.9 -34.8%
Fair Value Inputs Level2 277.4 491.2 -43.5%
Fair Value Inputs Level2 · Corporate Debt Securities 87.6 94.1 -6.9%
Fair Value Inputs Level2 · US Government Agencies Debt Securities 189.8 397.1 -52.2%
Deferred Tax Assets 1,018.6 1,045.1 -2.5%
Goodwill 370.3 347.5 +6.6%
Total Assets 20,458.7 18,743.2 +9.2%
Operating Lease Right-of-Use Assets 150.8 136.4 +10.6%
Intangible Assets 11.1 23 -51.7%
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Relationships 1.1 5 -78.0%
Technology Based Intangible Assets 10 17.9 -44.1%
Other Assets
Intangible And Other Assets 848.7 773.9 +9.7%
Current Liabilities
Accounts Payable 255.1 193.4 +31.9%
Employee Related Liabilities Current 648.4 535.6 +21.1%
Deferred Revenue 506.7 468.8 +8.1%
Other Liabilities Current 596 547.5 +8.9%
Total Current Liabilities 2,006.2 1,745.3 +14.9%
Non-Current Liabilities
Liabilities Other Than Longterm Debt Noncurrent 510.8 468.3 +9.1%
Total Liabilities 2,517 2,213.6 +13.7%
Operating Lease Liabilities 131.9 112.5 +17.2%
Accrued Income Taxes Noncurrent 193.6 239 -19.0%
Stockholders' Equity
Common Stock 0.4 0.4 0.0%
Additional Paid In Capital Common Stock 10,768.5 9,681.3 +11.2%
Retained Earnings 7,011.8 6,803.3 +3.1%
Accumulated Other Comprehensive Income 43.3 -51.3 +184.4%
Total Stockholders' Equity 17,824 16,433.7 +8.5%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -20.7 -14.6 -41.8%
Accumulated Gain Loss Net Cash Flow Hedge Parent 4 11 -63.6%
Accumulated Net Unrealized Investment Gain Loss 30.5 -14.6 +308.9%
Accumulated Other Comprehensive Income 43.3 -51.3 +184.4%
Accumulated Translation Adjustment 29.5 -33.1 +189.1%
Minority Interest 117.7 95.9 +22.7%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 17,941.7 16,529.6 +8.5%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 43.3 -51.3 +184.4%
Additional Paid In Capital 10,768.5 9,681.3 +11.2%
Common Stock 0.4 0.4 0.0%
Noncontrolling Interest 117.7 95.9 +22.7%
Parent 17,824 16,433.7 +8.5%
Retained Earnings 7,011.8 6,803.3 +3.1%
Total Liabilities & Equity 20,458.7 18,743.2 +9.2%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Depreciationand Gain Losson Dispositionof Property Plant Equipment 614.7 445.3 +38.0%
Amortization Of Intangible Assets Contract Acquisition And Other Assets 62.4 54.4 +14.7%
Gain Loss On Sale Of Business -1 -1.1 +9.1%
Accretion Amortization Of Discounts And Premiums Investments -57.2 -43.3 -32.1%
Increase Decrease In Deferred Income Taxes 19.1 -135.3 +114.1%
Stock-Based Compensation 788.2 676.8 +16.5%
Change in Accounts Receivable -301.7 -95.9 -214.6%
Change in Inventory -1,063.4 -830 -28.1%
Change in Prepaid & Other Assets -187.1 -231.8 +19.3%
Change in Accounts Payable 57.9 -0.4 +14575.0%
Increase Decrease In Employee Related Liabilities 112.7 99.3 +13.5%
Increase Decrease In Deferred Revenue 75.2 31.2 +141.0%
Increase Decrease In Other Operating Liabilities 34.1 108.3 -68.5%
Net Cash from Operations 3,030.5 2,415 +25.5%
Deferred Income Taxes 19.1 -135.3 +114.1%
Investing Activities
Payments To Acquire Marketable Securities -1,215.9 -5,139.6 +76.3%
Proceeds From Sale Of Available For Sale Securities Debt 259.9 100.2 +159.4%
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities 2,175.5 2,878.8 -24.4%
Payments To Acquire Productive Assets -539.8 -1,111.2 +51.4%
Payments To Acquire Businesses Net Of Cash Acquired -13.9 -1 -1290.0%
Net Cash from Investing 665.8 -3,272.8 +120.3%
Financing Activities
Proceeds From Stock Plans 350.3 429.4 -18.4%
Tax Withholding for Share Compensation -419.1 -270 -55.2%
Share Repurchases -2,295.3
Net Cash from Financing -2,364.1 150.9 -1666.7%
Supplemental
Income Taxes Paid 537.9
Unpaid Capital Expenditures 70.6 77.2 -8.5%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 12.8 -0.8 +1700.0%
Net Change in Cash 1,345 -707.7 +290.1%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 3,407.4 2,062.4 +65.2%

Values in millions USD. Source: SEC EDGAR 10-K filing.

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