Cash flow Intuitive Surgical, Inc.

Equities

ISRG

US46120E6023

Advanced Medical Equipment & Technology

Market Closed - Nasdaq Other stock markets 04:00:00 2024-09-06 pm EDT			5-day change	1st Jan Change
471.82 ^USD	-1.02%		-4.22%	+39.86%

Sep. 05	Transcript : Intuitive Surgical, Inc. Presents at Wells Fargo 2024 Healthcare Conference, Sep-05-2024 09:30 AM
Aug. 28	HSBC Adjusts Price Target on Intuitive Surgical to $586 From $455, Maintains Buy Rating	MT

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Published financial data: INTUITIVE SURGICAL, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	4.48B	4.36B	5.71B	6.22B	7.12B
Total Revenues	4.48B	4.36B	5.71B	6.22B	7.12B
Cost of Goods Sold, Total	1.37B	1.5B	1.75B	2.03B	2.39B
Gross Profit	3.11B	2.86B	3.96B	4.2B	4.73B
Selling General & Admin Expenses, Total	1.18B	1.22B	1.47B	1.71B	1.96B
R&D Expenses	557M	595M	671M	879M	999M
Other Operating Expenses, Total	1.73B	1.81B	2.14B	2.59B	2.96B
Operating Income	1.38B	1.05B	1.82B	1.61B	1.77B
Interest And Investment Income	117M	91.6M	80.8M	106M	203M
Net Interest Expenses	117M	91.6M	80.8M	106M	203M
Currency Exchange Gains (Loss)	4.9M	-1.4M	-900K	-27.3M	-3.7M
EBT, Excl. Unusual Items	1.5B	1.14B	1.9B	1.68B	1.97B
Gain (Loss) On Sale Of Investments	6M	67M	-10.6M	-49M	-7.3M
Legal Settlements	-800K	1.2M	-	-28.1M	-
EBT, Incl. Unusual Items	1.5B	1.21B	1.89B	1.61B	1.96B
Income Tax Expense	120M	140M	162M	262M	142M
Earnings From Continuing Operations	1.38B	1.07B	1.73B	1.34B	1.82B
Net Income to Company	1.38B	1.07B	1.73B	1.34B	1.82B
Minority Interest	-2.5M	-6.2M	-23.5M	-22.1M	-19.3M
Net Income - (IS)	1.38B	1.06B	1.7B	1.32B	1.8B
Net Income to Common Incl Extra Items	1.38B	1.06B	1.7B	1.32B	1.8B
Net Income to Common Excl. Extra Items	1.38B	1.06B	1.7B	1.32B	1.8B
Per Share Items
Net EPS - Basic	3.98	3.02	4.79	3.72	5.12
Basic EPS - Continuing Operations	3.98	3.02	4.79	3.72	5.12
Basic Weighted Average Shares Outstanding	346M	351M	356M	356M	351M
Net EPS - Diluted	3.85	2.94	4.66	3.65	5.03
Diluted EPS - Continuing Operations	3.85	2.94	4.66	3.65	5.03
Diluted Weighted Average Shares Outstanding	358M	361M	366M	362M	357M
Normalized Basic EPS	2.7	2.01	3.27	2.9	3.44
Normalized Diluted EPS	2.6	1.95	3.18	2.85	3.38
American Depositary Receipts Ratio (ADR)	0.1	0.1	0.1	0.1	0.1
Supplemental Items
EBITDA	1.58B	1.32B	2.13B	1.96B	2.17B
EBITA	1.42B	1.1B	1.85B	1.63B	1.79B
EBIT	1.38B	1.05B	1.82B	1.61B	1.77B
EBITDAR	1.59B	1.34B	2.15B	1.98B	2.2B
Total Revenues (As Reported)	4.48B	4.36B	5.71B	6.22B	7.12B
Effective Tax Rate - (Ratio)	8.01	11.62	8.58	16.33	7.23
Current Domestic Taxes	108M	55.7M	176M	400M	348M
Current Foreign Taxes	18M	26.9M	50.1M	48.1M	74.4M
Total Current Taxes	126M	82.6M	226M	448M	422M
Deferred Domestic Taxes	11.7M	25.4M	-20.9M	-205M	-148M
Deferred Foreign Taxes	-17.8M	32.2M	-43.1M	19.9M	-133M
Total Deferred Taxes	-6.1M	57.6M	-64M	-185M	-281M
Normalized Net Income	933M	706M	1.16B	1.03B	1.21B
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	557M	595M	671M	879M	999M
Net Rental Expense, Total	19.1M	21M	20.4M	25.7M	26.8M
Stock-Based Comp., COGS (Total)	67M	82.9M	91.1M	91.2M	112M
Stock-Based Comp., R&D Exp. (Total)	101M	114M	134M	164M	212M
Stock-Based Comp., SG&A Exp. (Total)	170M	202M	232M	261M	275M
Total Stock-Based Compensation	338M	399M	457M	516M	598M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.17B	1.62B	1.29B	1.58B	2.75B
Short Term Investments	2.05B	3.55B	2.94B	2.54B	2.47B
Total Cash And Short Term Investments	3.22B	5.17B	4.23B	4.12B	5.22B
Accounts Receivable, Total	708M	727M	893M	1.07B	1.27B
Total Receivables	708M	727M	893M	1.07B	1.27B
Inventory	596M	602M	587M	893M	1.22B
Prepaid Expenses	134M	126M	134M	164M	169M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	3.5M	-	-	-	8.1M
Total Current Assets	4.66B	6.63B	5.84B	6.25B	7.89B
Gross Property Plant And Equipment	1.91B	2.4B	2.92B	3.69B	5.18B
Accumulated Depreciation	-563M	-758M	-969M	-1.24B	-1.56B
Net Property Plant And Equipment	1.35B	1.64B	1.95B	2.46B	3.62B
Long-term Investments	2.62B	1.79B	4.43B	2.68B	2.19B
Goodwill	307M	337M	344M	348M	349M
Other Intangibles, Total	112M	77.4M	70.5M	49.8M	39.1M
Accounts Receivable Long-Term	118M	190M	279M	301M	232M
Deferred Tax Assets Long-Term	426M	368M	441M	665M	910M
Deferred Charges Long-Term	51.5M	53.1M	71.8M	72.3M	89.3M
Other Long-Term Assets, Total	85.9M	89.5M	122M	146M	123M
Total Assets	9.73B	11.17B	13.56B	12.97B	15.44B
Liabilities
Accounts Payable, Total	124M	81.6M	121M	147M	189M
Accrued Expenses, Total	437M	439M	565M	675M	731M
Current Portion of Leases	7.7M	21.9M	20.4M	25.7M	25.3M
Current Income Taxes Payable	37.9M	47.2M	54.1M	96.1M	111M
Unearned Revenue Current, Total	338M	350M	377M	397M	446M
Other Current Liabilities	86M	25.5M	12M	81.1M	156M
Total Current Liabilities	1.03B	965M	1.15B	1.42B	1.66B
Long-Term Leases	68.7M	58M	66.6M	69.6M	64.5M
Unearned Revenue Non Current	27.4M	32.1M	36.8M	41M	45.6M
Other Non Current Liabilities	322M	354M	350M	329M	275M
Total Liabilities	1.45B	1.41B	1.6B	1.86B	2.04B
Common Stock, Total	100K	100K	400K	400K	400K
Additional Paid In Capital	5.76B	6.45B	7.16B	7.7B	8.58B
Retained Earnings	2.49B	3.26B	4.76B	3.5B	4.74B
Comprehensive Income and Other	12.4M	24.9M	-24.2M	-162M	-12.2M
Total Common Equity	8.26B	9.73B	11.9B	11.04B	13.31B
Minority Interest	20.9M	27.6M	50.4M	70.7M	89.7M
Total Equity	8.28B	9.76B	11.95B	11.11B	13.4B
Total Liabilities And Equity	9.73B	11.17B	13.56B	12.97B	15.44B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	348M	353M	358M	350M	352M
ECS Total Common Shares Outstanding	348M	353M	358M	350M	352M
Book Value / Share	23.75	27.56	33.27	31.55	37.77
Tangible Book Value	7.84B	9.32B	11.49B	10.64B	12.92B
Tangible Book Value Per Share	22.54	26.39	32.11	30.41	36.67
Total Debt	76.4M	79.9M	87M	95.3M	89.8M
Net Debt	-3.15B	-5.09B	-4.14B	-4.03B	-5.13B
Debt Equivalent Oper. Leases	153M	168M	163M	206M	214M
Minority Interest, Total (Incl. Fin. Div)	20.9M	27.6M	50.4M	70.7M	89.7M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	211M	184M	215M	383M	455M
Inventories - Work In Process, Total	75.9M	75.6M	96.4M	160M	160M
Inventories - Finished Goods, Total	309M	342M	276M	350M	606M
Land - (BS)	248M	278M	368M	389M	457M
Buildings, Total	408M	774M	812M	866M	1B
Machinery, Total	431M	541M	621M	701M	878M
Full Time Employees	7.33K	8.08K	9.79K	12.12K	13.68K
Assets on Operating Lease - Gross	294M	420M	616M	806M	1.15B
Assets on Operating Lease - Accumulated Depreciation	-62.2M	-112M	-182M	-286M	-434M
Accumulated Allowance for Doubtful Accounts (Supple)	8.3M	2.2M	7.1M	7.9M	10.1M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1.38B	1.06B	1.7B	1.32B	1.8B
Depreciation & Amortization - CF	157M	221M	280M	326M	382M
Amortization of Goodwill and Intangible Assets - (CF)	43M	49.8M	27.4M	27.8M	20.2M
Depreciation & Amortization, Total	200M	270M	307M	354M	402M
Amortization of Deferred Charges, Total - (CF)	13.1M	17.1M	22M	26.6M	33M
(Gain) Loss From Sale Of Asset	3.3M	5.8M	2.8M	8.2M	19.6M
(Gain) Loss on Sale of Investments - (CF)	-6M	-55.1M	10.6M	49M	7.3M
Stock-Based Compensation (CF)	336M	395M	449M	513M	593M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	-5.5M	63.8M	-39.1M	-163M	-262M
Change In Accounts Receivable	38.8M	5.7M	-142M	-159M	-186M
Change In Inventories	-360M	-170M	-256M	-547M	-712M
Change In Accounts Payable	12.3M	-32.3M	36M	21.3M	41.7M
Change in Unearned Revenues	35.5M	15M	32.6M	21.5M	53.4M
Change in Other Net Operating Assets	-47.6M	-91.5M	-38.4M	44M	26.1M
Cash from Operations	1.6B	1.48B	2.09B	1.49B	1.81B
Capital Expenditure	-426M	-342M	-354M	-532M	-1.06B
Cash Acquisitions	-59.7M	-37.7M	-8.7M	-12.8M	-8.9M
Investment in Marketable and Equity Securities, Total	-669M	-561M	-2.1B	1.92B	713M
Cash from Investing	-1.15B	-941M	-2.46B	1.37B	-360M
Issuance of Common Stock	273M	309M	276M	234M	296M
Repurchase of Common Stock	-429M	-310M	-212M	-2.8B	-581M
Other Financing Activities, Total	-12.6M	-85M	-21.9M	-4.5M	-2.9M
Cash from Financing	-168M	-85.7M	43M	-2.57B	-288M
Foreign Exchange Rate Adjustments	-2.2M	-2.6M	-3.4M	5.4M	3.3M
Net Change in Cash	273M	456M	-332M	295M	1.17B
Supplemental Items
Cash Income Tax Paid (Refund)	159M	34.4M	180M	444M	448M
Levered Free Cash Flow	1.02B	900M	1.6B	1.12B	779M
Unlevered Free Cash Flow	1.02B	900M	1.6B	1.12B	779M
Change In Net Working Capital	-31.1M	100M	-26.5M	250M	294M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	9.78	6.27	9.21	7.56	7.77
Return on Total Capital	11.42	7.23	10.4	8.63	8.94
Return On Equity %	18.46	11.82	15.92	11.66	14.83
Return on Common Equity	18.46	11.79	15.76	11.53	14.77
Margin Analysis
Gross Profit Margin %	69.45	65.65	69.32	67.44	66.39
SG&A Margin	26.29	27.93	25.68	27.51	27.57
EBITDA Margin %	35.17	30.26	37.27	31.48	30.45
EBITA Margin %	31.67	25.2	32.37	26.24	25.08
EBIT Margin %	30.71	24.06	31.89	25.8	24.8
Income From Continuing Operations Margin %	30.85	24.48	30.26	21.61	25.51
Net Income Margin %	30.8	24.33	29.85	21.25	25.24
Net Avail. For Common Margin %	30.8	24.33	29.85	21.25	25.24
Normalized Net Income Margin	20.84	16.19	20.39	16.56	16.98
Levered Free Cash Flow Margin	22.68	20.64	27.97	17.97	10.94
Unlevered Free Cash Flow Margin	22.68	20.64	27.97	17.97	10.94
Asset Turnover
Asset Turnover	0.51	0.42	0.46	0.47	0.5
Fixed Assets Turnover	4.15	2.99	3.18	2.82	2.35
Receivables Turnover (Average Receivables)	6.21	6.07	7.05	6.33	6.09
Inventory Turnover (Average Inventory)	2.72	2.5	2.95	2.74	2.27
Short Term Liquidity
Current Ratio	4.53	6.86	5.08	4.4	4.76
Quick Ratio	3.81	6.11	4.46	3.65	3.91
Operating Cash Flow to Current Liabilities	1.55	1.54	1.82	1.05	1.09
Days Sales Outstanding (Average Receivables)	58.75	60.25	51.76	57.67	59.96
Days Outstanding Inventory (Average Inventory)	133.98	146.31	123.84	133.33	161.1
Average Days Payable Outstanding	26.32	24.97	21.3	20.99	22.51
Cash Conversion Cycle (Average Days)	166.41	181.59	154.3	170.02	198.56
Long Term Solvency
Total Debt/Equity	0.92	0.82	0.73	0.86	0.67
Total Debt / Total Capital	0.91	0.81	0.72	0.85	0.67
LT Debt/Equity	0.83	0.59	0.56	0.63	0.48
Long-Term Debt / Total Capital	0.82	0.59	0.55	0.62	0.48
Total Liabilities / Total Assets	14.88	12.62	11.83	14.35	13.24
Total Debt / EBITDA	0.05	0.06	0.04	0.05	0.04
Net Debt / EBITDA	-1.97	-3.8	-1.93	-2.03	-2.34
Total Debt / (EBITDA - Capex)	0.07	0.08	0.05	0.07	0.08
Net Debt / (EBITDA - Capex)	-2.69	-5.1	-2.31	-2.77	-4.54
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	20.25	-2.68	31.01	8.97	14.49
Gross Profit, 1 Yr. Growth %	19.43	-8.01	38.35	6	12.71
EBITDA, 1 Yr. Growth %	15.41	-16.24	61.17	-7.96	10.72