$63.8 B

ISRG Mkt cap, 20-Sep-2018

Intuitive Surgical Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

2.3 b2.1 b2.4 b2.7 b

Revenue growth, %

(6%)12%13%

Cost of goods sold

806.5 m814.3 m

Gross profit

1.6 b1.9 b

Gross profit Margin, %

66%70%

R&D expense

239.6 m

General and administrative expense

705.3 m

Operating expense total

944.9 m

EBIT

852.5 m544.8 m740 m945.2 m

EBIT margin, %

38%26%31%35%

Interest income

18.5 m35.6 m

Pre tax profit

758.5 m980.8 m

Income tax expense

169.7 m244.9 m

Net Income

671 m418.8 m588.8 m735.9 m660 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

499 m464.7 m512.2 m550.1 m532.1 m586.1 m589.7 m594.5 m670.1 m682.9 m674.2 m756.2 m806.1 m

Cost of goods sold

142.3 m149.3 m167.8 m189.5 m195.3 m199.6 m193.9 m189.5 m199.2 m195.9 m208.1 m228.3 m239.3 m

Gross profit

356.7 m315.4 m344.4 m360.6 m336.8 m386.5 m395.8 m405 m470.9 m487 m466.1 m527.9 m566.8 m

Gross profit Margin, %

71%68%67%66%63%66%67%68%70%71%69%70%70%

R&D expense

43.2 m43 m40.2 m47.5 m44.4 m49.4 m51 m53.2 m54.7 m62.6 m73.5 m84.6 m83.4 m

General and administrative expense

139.3 m215.8 m161.2 m154 m162 m163.3 m154.9 m172.8 m170.8 m168 m201.1 m185.8 m204.8 m

Operating expense total

182.5 m258.8 m201.4 m201.5 m206.4 m212.7 m205.9 m226 m225.5 m230.6 m274.6 m270.4 m288.2 m

EBIT

174.2 m56.6 m143 m159.1 m130.4 m173.8 m189.9 m179 m245.4 m256.4 m191.5 m257.5 m278.6 m

EBIT margin, %

35%12%28%29%25%30%32%30%37%38%28%34%35%

Interest income

3.9 m3.9 m400 k2 m4.3 m4.6 m3.7 m5.5 m8 m10.4 m8.7 m10.1 m10.8 m

Pre tax profit

178.1 m60.5 m142.6 m161.1 m134.7 m178.4 m193.6 m184.5 m253.4 m266.8 m200.2 m267.6 m289.4 m

Income tax expense

21.3 m16.2 m38.6 m37.4 m37.7 m43.9 m26.3 m48.1 m68.9 m55.8 m20.4 m46.1 m(8.1 m)

Net Income

156.8 m44.3 m104 m123.7 m97 m134.5 m167.3 m136.4 m184.5 m211 m179.8 m221.5 m297.5 m

Intuitive Surgical Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

782.1 m600.3 m714.6 m1 b

Accounts Receivable

Inventories

179.6 m181.7 m167.9 m182.3 m

Current Assets

1.9 b1.8 b2.2 b3.3 b

PP&E

309.9 m387.4 m432.1 m458.4 m

Goodwill

137.4 m198 m201.1 m201.1 m

Total Assets

4 b4 b4.9 b6.5 b5.8 b

Accounts Payable

46.2 m61.6 m52.6 m68.5 m

Short-term debt

Current Liabilities

380.9 m501.2 m491.9 m596.5 m

Long-term debt

Total Liabilities

709.1 m

Additional Paid-in Capital

2.5 b2.9 b3.4 b4.2 b

Retained Earnings

979.4 m487.7 m899.2 m1.6 b

Total Equity

4.3 b5.8 b

Financial Leverage

1.1 x1.1 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

586.8 m814 m507.6 m493 m701.1 m915.4 m868.2 m980.5 m1.2 b1 b708.6 m696.5 m875 m

Accounts Receivable

280.6 m239.1 m271.1 m259.1 m292.4 m321.5 m334.7 m325.9 m403.8 m432 m412.9 m481.1 m468 m

Inventories

200.1 m185.5 m202.4 m198.9 m202.4 m201.3 m194 m163 m169.2 m183.5 m213.5 m214.2 m225.2 m

Current Assets

1.7 b2.1 b1.5 b1.6 b2 b2.2 b2.4 b2.4 b2.8 b2.9 b2.2 b2.6 b2.9 b

PP&E

294.2 m320.8 m326.7 m335.4 m404.7 m408.6 m427.3 m439 m440.1 m447.3 m497.4 m540.1 m584.8 m

Goodwill

137.4 m147.5 m198 m198 m198 m201.1 m201.1 m201.1 m201.1 m201.1 m201.1 m201.1 m201.1 m

Total Assets

3.7 b4.2 b3.4 b3.7 b4.1 b4.4 b4.7 b5.3 b5.8 b6.2 b4.8 b5.3 b5.6 b

Accounts Payable

62 m57 m58.9 m53.6 m67.9 m64.7 m58 m57.9 m64.8 m60.6 m74 m74.2 m80.4 m

Current Liabilities

367.3 m459.5 m495.9 m480.5 m456.9 m474.4 m478.6 m452.9 m489.5 m528.1 m558.2 m599.8 m615.7 m

Total Liabilities

433.1 m537.6 m582.2 m567.3 m540.8 m561.8 m567.1 m555.9 m599.3 m632.9 m680.5 m728.5 m684.7 m

Additional Paid-in Capital

2.5 b2.6 b2.5 b2.7 b3 b3.1 b3.3 b3.7 b4 b4.1 b3.9 b4 b4.2 b

Retained Earnings

813.2 m1 b312.2 m341 m562.3 m651.3 m785.7 m1 b1.2 b1.4 b263.3 m482.3 m776.6 m698 m

Total Equity

3.8 b4.1 b4.8 b5.2 b5.5 b4.1 b4.5 b5 b

Financial Leverage

1.1 x1.1 x1.1 x1.1 x1.1 x1.2 x1.2 x1.1 x

Intuitive Surgical Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

671 m418.8 m588.8 m735.9 m660 m

Depreciation and Amortization

46 m52 m

Accounts Receivable

68.9 m(14 m)(79 m)(35.9 m)

Inventories

(70 m)(27 m)(11 m)(46.7 m)

Accounts Payable

(8.9 m)17.7 m(11.3 m)15.9 m14 m

Cash From Operating Activities

880 m665.1 m771.9 m1 b

Cash From Investing Activities

259 m(153.9 m)(849.5 m)(1.3 b)

Cash From Financing Activities

(910.6 m)(692.4 m)193.4 m558.5 m

Income Taxes Paid

194.1 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q1, 2018

Net Income

156.8 m44.3 m104 m123.7 m97 m134.5 m167.3 m136.4 m184.5 m211 m179.8 m

Accounts Receivable

271.1 m259.1 m292.4 m321.5 m334.7 m325.9 m403.8 m432 m412.9 m33 m

Inventories

202.4 m198.9 m202.4 m201.3 m194 m163 m169.2 m183.5 m213.5 m

Accounts Payable

58.9 m53.6 m67.9 m64.7 m58 m57.9 m64.8 m60.6 m74 m
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