Intuitive Surgical, Inc.
ISRGNASDAQ
$449.81
Last price · USD
- Market cap
- $163.1B
- P/E
- 57.2x
- EV / EBITDA
- 40.1x
- P/S
- 16.2x
- FCF yield
- 1.5%
- Div. yield
- 0.00%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
Intuitive Surgical, Inc. cash flow statement
Annual · USD millions except per-share data · 31 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 2,877 | 2,338 | 1,817 | 1,344 | 1,728 | +13.6% | |
| Depreciation & amortization | 677 | 462 | 455 | 366 | 310 | +21.5% | |
| Deferred income tax | 19 | (135) | (281) | (185) | (63) | — | |
| Stock-based compensation | 788 | 677 | 598 | 513 | 449 | +15.1% | |
| Change in working capital | (1,272) | (919) | (778) | (619) | (368) | — | |
| Accounts receivables | (302) | (96) | (186) | (159) | (142) | — | |
| Inventory | (1,063) | (830) | (712) | (547) | (256) | — | |
| Accounts payables | 58 | -0 | 42 | 21 | 36 | +12.6% | |
| Other working capital | 35 | 7 | 80 | 66 | (6) | — | |
| Other non-cash items | (58) | (7) | 2 | 72 | 33 | — | |
| Net cash from operating activities | 3,031 | 2,415 | 1,814 | 1,491 | 2,089 | +9.7% | |
| Operating cash flow | 3,031 | 2,415 | 1,814 | 1,491 | 2,089 | +9.7% | |
| Investing activities | |||||||
| Investments in PP&E | (540) | (1,111) | (1,064) | (532) | (353) | — | |
| Capital expenditure | (540) | (1,111) | (1,064) | (532) | (353) | — | |
| Acquisitions, net | (14) | (1) | (9) | (13) | (9) | — | |
| Purchases of investments | (1,216) | (5,140) | (2,207) | (1,399) | (6,452) | — | |
| Sales / maturities of investments | 2,435 | 2,979 | 2,920 | 3,316 | 4,353 | -13.5% | |
| Net cash from investing activities | 666 | (3,273) | (360) | 1,371 | (2,461) | — | |
| Financing activities | |||||||
| Net stock issuance | (1,945) | 429 | (120) | (2,374) | 277 | — | |
| Common stock issuance | 350 | 429 | 296 | 0 | 277 | +6.1% | |
| Common stock repurchased | (2,295) | 0 | (416) | (2,607) | 0 | — | |
| Net common stock issuance | (1,945) | 429 | (120) | (2,607) | 277 | — | |
| Net preferred stock issuance | 0 | 0 | 0 | 234 | 0 | — | |
| Other financing activities | (419) | (278) | (168) | (199) | (233) | — | |
| Net cash from financing activities | (2,364) | 151 | (288) | (2,572) | 43 | — | |
| Cash summary | |||||||
| Effect of forex changes on cash | 13 | (1) | 3 | 5 | (3) | — | |
| Net change in cash | 1,345 | (708) | 1,169 | 295 | (332) | — | |
| Cash at beginning of period | 2,062 | 2,770 | 1,601 | 1,306 | 1,639 | +5.9% | |
| Cash at end of period | 3,407 | 2,062 | 2,770 | 1,601 | 1,306 | +27.1% | |
| Free cash flow | 2,491 | 1,304 | 750 | 958 | 1,736 | +9.4% | |
| Income taxes paid | 538 | 467 | 448 | 444 | 0 | — | |