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Intuitive Surgical ISRG
$ 394.51
0.05%
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Intuitive Surgical Balance Sheet 2025-2006 | ISRG
Brief balance sheet overview of Intuitive Surgical
The review uses the five latest available annual reports between 2021 and 2025.
The asset base grew from $13.6 billion to $20.5 billion, or +50.9%. Average annual growth of roughly 10.8% was strong.
Asset growth of +50.9% was close to the +57% change in liabilities, leaving the funding profile broadly stable.
The equity-to-assets ratio is 87.1%, compared with 88.2% five periods ago. The balance sheet has a substantial internal cushion.
Net debt moved below zero to -$3.2 billion, reflecting surplus cash over debt.
The cash share moved from 9.6% to 16.5%. A higher figure generally provides more room in an adverse scenario.
Retained earnings stand at $7 billion; the five-period change was +47.3%. This reflects accumulated business performance.
Overall picture
Intuitive Surgical's balance sheet looks resilient: assets are supported by substantial equity, while debt does not overwhelm financial flexibility.
Annual Balance Sheet Intuitive Surgical
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-3.2 B | -1.88 B | -2.66 B | -1.49 B | -1.22 B | - | -1.17 B | -858 M | -648 M | -1.04 B | -715 M | -600 M | -782 M | -554 M | -466 M | - | - | - | - | - |
Long Term Debt |
132 M | 112 M | 64.5 M | 69.6 M | 66.6 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Long Term Debt Current |
39 M | 33.5 M | 25.3 M | 24.2 M | 20.4 M | 21.9 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 418 M | 339 M | 327 M | 113 M | 95.9 M | 78.8 M | 68 M | 77.5 M | 96.9 M | - | - | - | - | - |
Total Current Liabilities |
2.01 B | 1.75 B | 1.66 B | 1.42 B | 1.15 B | 965 M | 1.03 B | 821 M | 704 M | 596 M | 492 M | 501 M | 381 M | 402 M | 321 M | 274 M | 203 M | 165 M | - | - |
Total Liabilities |
2.52 B | 2.21 B | 2.04 B | 1.86 B | 1.6 B | 1.41 B | 1.45 B | 1.16 B | 1.03 B | 709 M | 588 M | 580 M | 449 M | 479 M | 418 M | 353 M | 272 M | 208 M | - | - |
Deferred Revenue |
507 M | 469 M | 446 M | 397 M | 377 M | 350 M | 338 M | 294 M | 284 M | 241 M | 226 M | 217 M | 200 M | 186 M | 154 M | 126 M | 99.4 M | 78 M | - | - |
Retained Earnings |
7.01 B | 6.8 B | 4.74 B | 3.5 B | 4.76 B | 3.26 B | 2.49 B | 1.52 B | 61.4 M | 1.57 B | 899 M | 488 M | 979 M | 1.33 B | 902 M | 719 M | 512 M | 398 M | - | - |
Total Assets |
20.5 B | 18.7 B | 15.4 B | 13 B | 13.6 B | 11.2 B | 9.73 B | 7.85 B | 5.76 B | 6.49 B | 4.91 B | 3.96 B | 3.95 B | 4.06 B | 3.06 B | 2.39 B | 1.81 B | 1.47 B | - | - |
Cash and Cash Equivalents |
3.37 B | 2.03 B | 2.75 B | 1.58 B | 1.31 B | 1.64 B | 1.17 B | 858 M | 648 M | 1.04 B | 715 M | 600 M | 782 M | 554 M | 466 M | 280 M | 221 M | 195 M | 123 M | 34.4 M |
Book Value |
17.9 B | 16.5 B | 13.4 B | 11.1 B | 12 B | 9.76 B | 8.28 B | 6.69 B | 4.73 B | 5.78 B | 4.32 B | 3.38 B | 3.5 B | 3.58 B | 2.65 B | 2.04 B | 1.54 B | 1.27 B | - | - |
Total Shareholders Equity |
17.8 B | 16.4 B | 13.3 B | 11 B | 12 B | 9.76 B | 8.26 B | 6.68 B | 4.73 B | 5.78 B | 4.32 B | 3.38 B | 3.5 B | 3.58 B | 2.65 B | 2.04 B | 1.54 B | 1.27 B | 889 M | 590 M |
All numbers in USD currency
Quarterly Balance Sheet Intuitive Surgical
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | 2010-Q1 | 2009-Q3 | 2009-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 66.6 M | - | - | - | 58 M | - | - | - | 68.7 M | 72.2 M | 69.6 M | 71.3 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 62 M | 51.1 M |
Total Liabilities |
2.58 B | 2.51 B | 2.52 B | 2.31 B | 2.21 B | 2.01 B | 2.21 B | 2.07 B | 1.85 B | 1.78 B | 2.04 B | 2.09 B | - | 1.76 B | 1.86 B | 1.69 B | - | 1.52 B | 1.6 B | 1.48 B | 1.42 B | 1.35 B | 1.41 B | 1.41 B | 1.41 B | 1.41 B | 1.45 B | 1.45 B | 1.45 B | 1.45 B | 1.16 B | 1.16 B | 1.16 B | 1.16 B | 996 M | 996 M | 996 M | 996 M | 709 M | 709 M | 709 M | 709 M | 588 M | 588 M | 588 M | 588 M | 580 M | 580 M | 580 M | 580 M | 449 M | 449 M | 449 M | 449 M | 479 M | 479 M | 479 M | 479 M | 418 M | 418 M | 418 M | 418 M | 344 M | 319 M | 247 M | 248 M | 230 M |
Deferred Revenue |
549 M | 560 M | 507 M | 491 M | 500 M | 496 M | 469 M | 426 M | 434 M | 438 M | 446 M | 395 M | - | 418 M | 397 M | 359 M | - | 386 M | 377 M | 348 M | 360 M | 358 M | 350 M | 350 M | 350 M | 350 M | 338 M | 338 M | 338 M | 338 M | 294 M | 294 M | 294 M | 294 M | 244 M | 244 M | 244 M | 244 M | 241 M | 241 M | 241 M | 241 M | 226 M | 226 M | 226 M | 226 M | 217 M | 217 M | 217 M | 217 M | 200 M | 200 M | 200 M | 200 M | 186 M | 186 M | 186 M | 186 M | 154 M | 154 M | 154 M | 154 M | 117 M | 108 M | 103 M | 90.7 M | 88.2 M |
Retained Earnings |
6.84 B | 6.4 B | 7.01 B | 6.42 B | 7.61 B | 7.14 B | 6.8 B | 6.13 B | 5.58 B | 5.07 B | 4.74 B | 4.21 B | - | 3.4 B | 3.5 B | 4.02 B | - | 4.86 B | 4.76 B | 4.39 B | 4.02 B | 3.51 B | 3.26 B | 3.26 B | 3.26 B | 3.26 B | 2.49 B | 2.49 B | 2.49 B | 2.49 B | 1.52 B | 1.52 B | 1.52 B | 1.52 B | 115 M | 115 M | 115 M | 115 M | 1.57 B | 1.57 B | 1.57 B | 1.57 B | 899 M | 899 M | 899 M | 899 M | 488 M | 488 M | 488 M | 488 M | 979 M | 979 M | 979 M | 979 M | 1.33 B | 1.33 B | 1.33 B | 1.33 B | 902 M | 902 M | 902 M | 902 M | 720 M | 686 M | 597 M | 434 M | 370 M |
Total Assets |
20.9 B | 20.1 B | 20.5 B | 19.4 B | 20.2 B | 19.2 B | 18.7 B | 17.7 B | 16.6 B | 15.8 B | 15.4 B | 14.7 B | - | 13.1 B | 13 B | 13.3 B | - | 13.7 B | 13.6 B | 12.9 B | 12.3 B | 11.5 B | 11.2 B | 11.2 B | 11.2 B | 11.2 B | 9.73 B | 9.73 B | 9.73 B | 9.73 B | 7.85 B | 7.85 B | 7.85 B | 7.85 B | 5.78 B | 5.78 B | 5.78 B | 5.78 B | 6.49 B | 6.49 B | 6.49 B | 6.49 B | 4.91 B | 4.91 B | 4.91 B | 4.91 B | 3.96 B | 3.96 B | 3.96 B | 3.96 B | 3.95 B | 3.95 B | 3.95 B | 3.95 B | 4.06 B | 4.06 B | 4.06 B | 4.06 B | 3.06 B | 3.06 B | 3.06 B | 3.06 B | 2.35 B | 2.24 B | 2.02 B | 1.64 B | 1.5 B |
Cash and Cash Equivalents |
2.76 B | 2.01 B | 3.37 B | 2.81 B | 3.4 B | 2.62 B | 2.03 B | 2.45 B | 3.07 B | 2.87 B | 2.75 B | 3.62 B | 3.46 B | 2.17 B | 1.58 B | 1.55 B | - | 1.12 B | 1.29 B | 1.36 B | 1.62 B | 1.4 B | 1.62 B | 1.62 B | 1.62 B | 1.62 B | 1.17 B | 1.17 B | 1.17 B | 1.17 B | 858 M | 858 M | 858 M | 858 M | 648 M | 648 M | 648 M | 648 M | 1.04 B | 1.04 B | 1.04 B | 1.04 B | 715 M | 715 M | 715 M | 715 M | 600 M | 600 M | 600 M | 600 M | 782 M | 782 M | 782 M | 782 M | 554 M | 554 M | 554 M | 554 M | 466 M | 466 M | 466 M | 466 M | 382 M | 420 M | 314 M | 206 M | 173 M |
Book Value |
18.3 B | 17.6 B | 17.9 B | 17 B | 18 B | 17.2 B | 16.5 B | 15.7 B | 14.8 B | 14 B | 13.4 B | 12.6 B | - | 11.3 B | 11.1 B | 11.6 B | - | 12.2 B | 12 B | 11.5 B | 10.9 B | 10.2 B | 9.76 B | 9.76 B | 9.76 B | 9.76 B | 8.28 B | 8.28 B | 8.28 B | 8.28 B | 6.69 B | 6.69 B | 6.69 B | 6.69 B | 4.78 B | 4.78 B | 4.78 B | 4.78 B | 5.78 B | 5.78 B | 5.78 B | 5.78 B | 4.32 B | 4.32 B | 4.32 B | 4.32 B | 3.38 B | 3.38 B | 3.38 B | 3.38 B | 3.5 B | 3.5 B | 3.5 B | 3.5 B | 3.58 B | 3.58 B | 3.58 B | 3.58 B | 2.65 B | 2.65 B | 2.65 B | 2.65 B | 2.01 B | 1.92 B | 1.77 B | 1.39 B | 1.27 B |
Total Shareholders Equity |
18.2 B | 17.5 B | 17.8 B | 16.9 B | 17.8 B | 17.2 B | 16.4 B | 15.7 B | 14.8 B | 14 B | 13.3 B | 12.6 B | 12 B | 11.3 B | 11 B | 11.6 B | - | 12.2 B | 11.9 B | 11.5 B | 10.8 B | 10.2 B | 9.73 B | 9.73 B | 9.73 B | 9.73 B | 8.26 B | 8.26 B | 8.26 B | 8.26 B | 6.68 B | 6.68 B | 6.68 B | 6.68 B | 4.78 B | 4.78 B | 4.78 B | 4.78 B | 5.78 B | 5.78 B | 5.78 B | 5.78 B | 4.32 B | 4.32 B | 4.32 B | 4.32 B | 3.38 B | 3.38 B | 3.38 B | 3.38 B | 3.5 B | 3.5 B | 3.5 B | 3.5 B | 3.58 B | 3.58 B | 3.58 B | 3.58 B | 2.65 B | 2.65 B | 2.65 B | 2.65 B | 2.01 B | 1.92 B | 1.77 B | 1.39 B | 1.27 B |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Intuitive Surgical, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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