Stock Analysis on Net

Intuitive Surgical Inc. (NASDAQ:ISRG)

$24.99

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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

US$ in thousands

Microsoft Excel
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 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
Cash and cash equivalents
Short-term investments
Accounts receivable, net
Inventory
Prepaids and other current assets
Current assets
Property, plant, and equipment, net
Long-term investments
Deferred tax assets
Intangible and other assets, net
Goodwill
Long-term assets
Total assets

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).


Total assets exhibit a sustained growth trajectory, increasing from 11.54 billion USD in March 2021 to 20.11 billion USD by March 2026. This expansion is driven by significant increases in both current assets and long-term infrastructure investments, reflecting a substantial scaling of the balance sheet over the five-year period.

Current Asset Trends
Current assets grew from 6.07 billion USD to 8.81 billion USD. This growth is primarily characterized by a sharp increase in inventory, which more than tripled from 576.8 million USD in March 2021 to 1.95 billion USD in March 2026. Accounts receivable followed a similar upward path, rising from 654.3 million USD to 1.60 billion USD, suggesting a growth in revenue and credit sales. In contrast, short-term investments saw a gradual decline from a peak of 3.16 billion USD in early 2021 to approximately 2.51 billion USD by early 2026. Cash and cash equivalents remained volatile, peaking at 3.60 billion USD in September 2023 before stabilizing around 2.01 billion USD in March 2026.
Fixed Asset and Infrastructure Expansion
A consistent and aggressive upward trend is observed in net property, plant, and equipment (PP&E), which rose from 1.59 billion USD in March 2021 to 5.45 billion USD in March 2026. This steady quarterly increase indicates significant capital expenditure dedicated to enhancing manufacturing capacity or operational infrastructure.
Long-term Investments and Intangibles
Long-term investments showed high variability, peaking at 4.42 billion USD in December 2021, dipping to 1.04 billion USD in September 2023, and recovering to 3.46 billion USD by March 2026. Intangible assets, net, grew steadily from 527 million USD to 1.09 billion USD. A notable spike in goodwill is observed in the final quarter of the data set, jumping from 370.3 million USD in December 2025 to 613.2 million USD in March 2026, which typically indicates acquisition activity.
Asset Composition Shift
The overall composition of the balance sheet has shifted toward long-term assets. Long-term assets grew from 5.47 billion USD to 11.30 billion USD, now representing a larger portion of the total asset base compared to March 2021. This shift highlights a transition from a highly liquid position toward a more asset-heavy operational structure.

Assets: Selected Items


Current Assets: Selected Items