Stock Analysis on Net
Stock Analysis on Net

Intuitive Surgical Inc. (NASDAQ:ISRG)

Common-Size Balance Sheet: Assets 
Quarterly Data

Intuitive Surgical Inc., common-size consolidated balance sheet: assets (quarterly data)

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Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Cash and cash equivalents 13.39 10.82 13.60 18.24 17.94 17.81 24.48 24.71 16.42 12.19 11.60 11.21 8.06 9.52 10.41 13.14 12.15 14.53 12.91 20.15 12.37
Short-term investments 10.08 10.60 10.25 10.33 12.39 16.02 19.53 17.00 19.53 19.55 20.93 21.17 21.07 21.49 21.20 22.96 27.34 31.24 31.53 24.28 20.52
Accounts receivable, net 6.36 6.54 6.50 6.66 7.13 7.32 6.54 6.50 7.09 7.26 6.41 6.12 6.62 5.77 5.37 5.69 5.67 5.78 5.54 5.04 5.33
Inventory 8.08 7.93 8.35 8.31 8.21 7.90 7.80 7.23 7.25 6.88 6.31 5.28 4.77 4.33 4.52 4.63 5.00 5.39 6.24 6.39 6.27
Prepaids and other current assets 1.93 2.05 1.97 2.43 2.56 2.03 2.15 2.32 2.40 2.31 2.21 2.13 1.89 2.00 2.78 2.50 2.41 2.40 3.11 2.54 2.93
Current assets 39.84% 37.94% 40.67% 45.97% 48.22% 51.08% 60.51% 57.77% 52.68% 48.20% 47.46% 45.91% 42.43% 43.12% 44.28% 48.93% 52.57% 59.32% 59.34% 58.39% 47.43%
Property, plant, and equipment, net 24.97 24.79 24.98 24.73 24.01 22.91 20.91 20.36 19.77 18.30 16.92 15.39 14.39 13.84 13.44 13.43 13.80 14.12 14.22 14.35 13.84
Long-term investments 23.88 25.71 22.99 17.57 15.94 13.73 7.10 9.58 14.45 20.22 23.21 27.27 32.29 32.57 31.94 26.80 23.16 15.74 15.48 15.70 26.72
Deferred tax assets 5.40 5.58 5.62 5.69 5.80 5.90 4.77 4.79 4.94 5.12 4.43 3.76 3.55 3.26 3.18 3.21 2.92 3.29 3.39 3.62 3.69
Intangible and other assets, net 4.10 4.13 3.77 3.95 3.84 4.12 4.34 4.99 5.49 5.47 5.36 5.11 4.84 4.67 4.49 4.84 4.57 4.51 4.40 4.61 4.93
Goodwill 1.81 1.85 1.96 2.09 2.20 2.26 2.37 2.51 2.67 2.69 2.63 2.55 2.51 2.53 2.66 2.80 2.99 3.01 3.17 3.33 3.39
Long-term assets 60.16% 62.06% 59.33% 54.03% 51.78% 48.92% 39.49% 42.23% 47.32% 51.80% 52.54% 54.09% 57.57% 56.88% 55.72% 51.07% 47.43% 40.68% 40.66% 41.61% 52.57%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Cash and Cash Equivalents
Cash and cash equivalents as a percentage of total assets exhibit significant fluctuations over the observed periods. Initially, the value rose from 12.37% in March 2020 to a peak of 20.15% in June 2020, then declined steadily toward the end of 2021, hitting a low near 9.52%. Subsequently, it increased markedly to 24.71% in June 2023, followed by a downward trend in the final quarters analyzed, ending around 13.39% in March 2025. This pattern indicates varying liquidity management priorities across quarters.
Short-term Investments
Short-term investments maintained a generally high share of total assets, peaking at 31.53% in September 2020 before trending downward through the end of 2024, reaching levels close to 10%. The steady decline after 2021 suggests a gradual shift away from short-term securities toward other asset categories or cash.
Accounts Receivable, Net
The proportion of accounts receivable remained relatively stable within a narrow range of approximately 5% to 7.5%. There was a slight increase from 5.33% in March 2020 toward a peak of 7.32% by December 2023, stabilizing thereafter around 6.3% in March 2025. This reflects consistent credit policies and sales collection practices over the periods.
Inventory
Inventory as a percentage of total assets decreased from 6.27% in March 2020 to a low near 4.33% in December 2021 but then showed a steady increase, peaking at 8.35% in September 2024 before a minor decline toward March 2025. This upward trend in inventory levels during recent quarters may indicate stockpiling or preparation for anticipated demand.
Prepaids and Other Current Assets
This category fluctuated moderately, generally hovering between 1.9% and 3.1%. There was no marked trend, showing a relatively stable share of total assets, suggesting consistent management of prepaid expenses and miscellaneous current assets.
Current Assets
The total current assets ratio showed volatility, peaking near 59.34% in September 2020 and again reaching approximately 60.51% by September 2023. Nonetheless, a decline occurred towards the end of the analysis period, falling below 40% by March 2025. These movements reflect shifts in liquidity composition and short-term asset allocation strategies.
Property, Plant, and Equipment, Net
Investments in property, plant, and equipment increased consistently over time, rising from 13.84% in March 2020 to a notable 24.97% by March 2025. This indicates substantial capital expenditures and potential expansion or modernization efforts.
Long-term Investments
Long-term investments displayed an irregular pattern with a decline from 26.72% in March 2020 to a trough of 7.1% in September 2023, followed by a recovery to approximately 23.88% by March 2025. This suggests varied investment strategies, including liquidation and re-investment phases over the years.
Deferred Tax Assets
The deferred tax assets ratio showed a gradual increase from 3.69% in early 2020 to around 5.4% by March 2025, highlighting growing recognized tax benefits or timing differences accumulating over the periods.
Intangible and Other Assets, Net
The proportion of intangible and other assets declined slightly over time, from 4.93% in March 2020 to near 4.1% in March 2025, indicating either amortization or reclassification effects relative to total asset growth.
Goodwill
Goodwill decreased steadily as a percentage of total assets, dropping from 3.39% in March 2020 to 1.81% by March 2025, reflecting potential impairment charges or asset base growth outpacing goodwill balances.
Long-term Assets
Long-term assets exhibited fluctuations, initially dropping from 52.57% in March 2020 to about 39.49% in September 2023, then rising again to exceed 60% by late 2024 and early 2025. This trend correlates with changes in property, plant, and equipment and long-term investments, signaling shifts in the asset structure toward longer-term holdings in recent periods.
Total Assets
The total assets hold constant at 100% throughout, serving as the base for comparative percentages of asset components.