Common-Size Income Statement
Quarterly Data
Paying user area
Try for free
Intuitive Surgical Inc. pages available for free this week:
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Intuitive Surgical Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Intuitive Surgical Inc., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
- Revenue Composition
- The revenue structure over the periods shows consistent dominance of product sales, maintaining approximately 83% to 85% of total revenue. Service revenue constitutes the remaining 15% to 18%. This stability indicates a consistent business mix with no significant shifts between product and service revenues.
- Cost of Revenue
- Both product and service cost components, expressed as percentages of revenue, exhibit fluctuations. The product cost percentage remains in the high 20s range, mostly between 24.7% and 29.8%, showing some volatility but a general slight increase toward later periods. Service cost percentages remain lower, generally between 4.4% and 7.7%, with moderate fluctuations. Overall, total cost of revenue as a percentage of revenue ranges from about 30% to 40%, indicating moderate variability but no distinct long-term trend upward or downward.
- Gross Profit
- Gross profit margin exhibits variability across quarters, fluctuating roughly between 59% and 69%. Early periods show a dip near 59%, with subsequent quarters generally recovering to upper 60s. Despite short-term changes, gross margin remains robust, consistent with the company’s historically high-margin profile.
- Operating Expenses
- Operating expenses, including selling, general and administrative (SG&A), and research and development (R&D) costs, are relatively stable as a percentage of revenue, fluctuating mainly between 35% and 50%. SG&A expenses demonstrate a gradual decline over the period, moving from around 32.7% initially toward lower ratios near 22.9% in later quarters, suggesting improved operating efficiency or cost control efforts. R&D expenditures maintain a range around 11% to 16%, indicating steady investment in innovation and product development without major swings.
- Operating Income and Profitability
- Income from operations fluctuates between approximately 9% and 35%, with lower performance seen in early 2020 and a general increase across subsequent periods. The improvement in operating margins aligns with reductions in operating expenses and stable gross profit margins. This suggests improved operational leverage.
- Non-Operating Items
- Interest and other income show positive contributions varying from negative values around -0.4% to strong gains up to 4.6%. This positive income stream enhances overall profitability, especially in more recent periods.
- Income Before Taxes and Net Income
- Income before taxes generally follows operating income trends, with margins ranging from 12.6% to over 34%. Income tax expense fluctuates significantly, with some periods showing negative tax expense impact, as well as occasional tax benefits or charges that vary markedly quarter to quarter. This volatility in taxes influences net income results but overall net income remains strong, with margins fluctuating between approximately 8% and 35%, mirroring pre-tax trends and earnings quality.
- Net Income Attribution
- Net income attributable to the parent company consistently constitutes the majority of net income, generally between 20% and 31%. The impact of noncontrolling interest is minimal and stable with minor negative contributions, indicating limited influence on overall profitability.
- Summary of Key Financial Trends
- The company demonstrates a sustained high-margin revenue structure dominated by product sales. Cost management appears generally effective, with operating expenses decreasing as a percentage of revenue over time. Gross profit margins remain stable but show some volatility, possibly driven by cost fluctuations or pricing dynamics. Operating income and net income margins show improvement after early-period dips, supported by positive non-operating income and effective tax management despite variability. Overall, the financial data suggest a company with strong profitability, disciplined cost control, and consistent revenue composition across the analyzed timeframe.