INTUITIVE SURGICAL INC
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures adjusted for later stock splits (split ratios inferred from EPS restated in later SEC filings).
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | – | – |
| Stockholders' equity | 17,824 | 100.0 |
| Total capitalization | 17,824 | 100.0 |
353,278,038 shares outstanding at 16 July 2026 (cover page of the 10-Q filed 21 July 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Not tagged in XBRL |
CAPITAL STOCK 12/31/25
| Common shares authorized | 600,000,000 |
| Common shares issued | 355,100,000 |
| Par or stated value per share ($) | 0.001 |
| Preferred stock ($ millions) | 0 |
| Outstanding at 7/16/26 | 353,278,038 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | – | – |
| 2024 | – | – |
| 2023 | – | – |
| 2022 | – | – |
| 2021 | – | – |
HISTORY AND BUSINESS
HISTORY: Incorporated in Delaware.
BUSINESS: Classified by the SEC under Standard Industrial Classification 3842, Orthopedic, Prosthetic & Surgical Appliances & Supplies. Large accelerated filer. Principal executive office: 1020 Kifer Road, Sunnyvale, CA 94086. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Revenues | 10,065 | 8,352 | 7,124 |
| Cost of revenues | 3,422 | 2,718 | 2,395 |
| Gross profit | 6,642 | 5,634 | 4,730 |
| Research and development | 1,312 | 1,145 | 999 |
| Selling, general and administrative | 2,385 | 2,140 | 1,964 |
| Depreciation and amortization | 600 | 439 | 382 |
| Operating income | 2,946 | 2,349 | 1,767 |
| Income before income taxes | 3,311 | 2,674 | 1,959 |
| Income taxes | 435 | 336 | 142 |
| Net income | 2,856 | 2,323 | 1,798 |
| Earned per share, diluted ($) | 7.87 | 6.42 | 5.03 |
| Dividends per share ($) | – | – | – |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Cash and equivalents | 3,368 | 2,027 |
| Receivables, net | 1,527 | 1,225 |
| Inventories | 1,840 | 1,487 |
| Total current assets | 9,780 | 7,111 |
| Property, plant and equipment, net | 5,342 | 4,647 |
| Goodwill | 370 | 348 |
| Total assets | 20,459 | 18,743 |
| Total current liabilities | 2,006 | 1,745 |
| Total liabilities | 2,517 | 2,214 |
| Stockholders' equity | 17,824 | 16,434 |
| Total liabilities and equity | 20,459 | 18,743 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 10,065 | 2,946 | 2,856 | 28.4 | 7.87 | – | 3,030 | 540 | 2,491 | 20,459 | 2,517 | – | 17,824 | 16.0 | – |
| 12/31/24 | 8,352 | 2,349 | 2,323 | 27.8 | 6.42 | – | 2,415 | 1,111 | 1,304 | 18,743 | 2,214 | – | 16,434 | 14.1 | – |
| 12/31/23 | 7,124 | 1,767 | 1,798 | 25.2 | 5.03 | – | 1,814 | 1,064 | 750 | 15,442 | 2,044 | – | 13,308 | 13.5 | – |
| 12/31/22 | 6,222 | 1,577 | 1,322 | 21.3 | 3.65 | – | 1,491 | 532 | 958 | 12,974 | 1,861 | – | 11,042 | 12.0 | – |
| 12/31/21 | 5,710 | 1,821 | 1,705 | 29.9 | 4.66 | – | 2,089 | 340 | 1,750 | 13,555 | 1,604 | – | 11,901 | 14.3 | – |
| 12/31/20 | 4,358 | 1,050 | 1,061 | 24.3 | 2.94 | – | 1,485 | 342 | 1,143 | 11,169 | 1,410 | – | 9,732 | 10.9 | – |
| 12/31/19 | 4,478 | 1,374 | 1,379 | 30.8 | 3.85 | – | 1,598 | 426 | 1,173 | 9,733 | 1,448 | – | 8,264 | 16.7 | – |
| 12/31/18 | 3,724 | 1,199 | 1,128 | 30.3 | 3.16 | – | 1,170 | 187 | 982 | 7,847 | 1,159 | – | 6,679 | 16.9 | – |
| 12/31/17 | 3,138 | 1,063 | 671 | 21.4 | 1.92 | – | 1,144 | 191 | 953 | 5,777 | 996 | – | 4,779 | 14.0 | – |
| 12/31/16 | 2,706 | 950 | 738 | 27.3 | 2.09 | – | 1,087 | 54 | 1,033 | 6,487 | 709 | – | 5,778 | 12.8 | – |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
INTUITIVE SURGICAL INC
CIK 1035267 · EIN 77-0416458
PRINCIPAL OFFICE:
1020 Kifer Road, Sunnyvale, CA 94086
Tel.: 4085232100
INCORPORATED:
Delaware
INDUSTRY (SEC SIC CODE):
3842 · Orthopedic, Prosthetic & Surgical Appliances & Supplies
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 3 February 2026
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/3/26) · 10-K FY2024 (filed 1/31/25) · 10-K FY2023 (filed 1/31/24) · 10-K FY2022 (filed 2/10/23) · 10-K FY2021 (filed 2/3/22) · 10-K FY2020 (filed 2/10/21) · 10-K FY2019 (filed 2/7/20) · 10-K FY2018 (filed 2/4/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.