Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
Intuitive Surgical Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
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).
- Accounts payable
- Accounts payable as a percentage of total liabilities and stockholders’ equity exhibits moderate fluctuation over the periods. It generally remains around 1% to 1.4%, peaking at 1.44% multiple times, including the last recorded period, indicating a stable but slightly increasing short-term obligation relative to the total capital structure.
- Accrued compensation and employee benefits
- This item shows considerable variability, ranging from about 1.5% to 2.9%. Notably, there are peaks in the fall quarters of several years, suggesting potential seasonal influences or quarterly accrual practices related to employee compensation. Despite fluctuations, the figure remains a significant component of liabilities and equity.
- Deferred revenue
- Deferred revenue remains relatively stable in a tight range between approximately 2.4% and 3.4%. A slight downward trend can be observed starting from 2021, indicating possible changes in advance payments or recognition policies, but the overall level remains consistent as a liability relative to total capital.
- Other accrued liabilities
- Other accrued liabilities experience some volatility, fluctuating between roughly 2.1% and 4.8%. There is a noticeable peak in late 2023, after which the value diminishes. This suggests episodic increases in miscellaneous obligations, which may be linked to non-regular operating expenses or contingencies.
- Current liabilities
- Current liabilities as a whole show a gradual increase from about 7.8% in early 2021 to peaks above 11% into late 2023, followed by a decline back toward 8% in early 2025. This pattern reflects variation in obligations due within one year, indicating changing liquidity needs or short-term financing levels.
- Other long-term liabilities and Long-term liabilities
- Both other long-term and total long-term liabilities demonstrate a downward trend, decreasing from around 4.2% in early 2020 to about 2.2%–2.5% toward early 2025. This reduction indicates a possible repayment or reclassification of longer-term debt or obligations, altering the longer-term financial commitments of the company.
- Total liabilities
- Total liabilities as a share of total liabilities and stockholders’ equity diminish gradually from 13.8% in the first quarter of 2020 to around 10.5% by early 2025. The decline suggests a relative reduction in overall indebtedness or liabilities compared to the company’s equity base, signaling a strengthening balance sheet position.
- Common stock
- The proportion of common stock remains at zero percent throughout all periods, consistent with the nominal $0.001 par value and possibly indicating no changes in issued capital affecting this line.
- Additional paid-in capital
- Additional paid-in capital decreases gradually over the timeline from almost 60% at the start of 2020 down to approximately 52% by early 2025. This declining trend reflects either share repurchases, amortization of equity components, or other equity restructuring activities affecting this account’s relative size.
- Retained earnings
- Retained earnings exhibit a clear upward trend, increasing from around 26% in early 2020 to over 37% by the first quarter of 2025, indicating consistent accumulation of profits retained within the company rather than distributed as dividends. This steady growth contributes positively to equity and overall capitalization.
- Accumulated other comprehensive income (loss)
- This item shows negative values throughout most periods, with peaks of loss around -1.4% during mid-2020s and partial recovery towards zero afterward. Minor fluctuations suggest exposure to unrealized gains or losses on investments, foreign currency items, or other comprehensive income elements affecting equity but not profit/loss.
- Total stockholders’ equity
- Total stockholders’ equity as a proportion of total capital remains robust, consistently above 85% and increasing to nearly 90% by early 2025. This reflects a very strong equity base relative to liabilities, consistent with the trends in increasing retained earnings and stable or declining liabilities.
- Noncontrolling interest in joint venture
- This component remains marginal and stable, fluctuating between about 0.24% and 0.6%, indicating a relatively small minority ownership stake in joint ventures without significant changes over the time frame.
- Overall capital structure
- The overall structure shows a stable and strong composition with total liabilities declining and stockholders' equity proportion increasing. This trend points to strengthened financial health, reduced leverage, and growing internal equity financing over the analyzed quarters.