Stock Analysis on Net
Stock Analysis on Net
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Intuitive Surgical Inc. (NASDAQ:ISRG)

Income Statement

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Intuitive Surgical Inc., consolidated income statement

US$ in thousands

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12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Product 3,754,300  3,089,100  2,547,100  2,187,400  1,919,600 
Service 724,200  635,100  581,800  517,000  464,800 
Revenue 4,478,500  3,724,200  3,128,900  2,704,400  2,384,400 
Product (1,119,100) (906,200) (754,900) (663,300) (647,200)
Service (249,200) (213,900) (179,900) (151,000) (159,300)
Cost of revenue (1,368,300) (1,120,100) (934,800) (814,300) (806,500)
Gross profit 3,110,200  2,604,100  2,194,100  1,890,100  1,577,900 
Selling, general and administrative (1,178,400) (986,600) (810,900) (705,300) (640,500)
Research and development (557,300) (418,100) (328,600) (239,600) (197,400)
Operating expenses (1,735,700) (1,404,700) (1,139,500) (944,900) (837,900)
Income from operations 1,374,500  1,199,400  1,054,600  945,200  740,000 
Interest and other income, net 127,700  80,100  41,900  35,600  18,500 
Income before taxes 1,502,200  1,279,500  1,096,500  980,800  758,500 
Income tax expense (120,400) (154,500) (436,500) (244,900) (169,700)
Net income 1,381,800  1,125,000  660,000  735,900  588,800 
Net (income) loss attributable to noncontrolling interest in joint venture (2,500) 2,900  —  —  — 
Net income attributable to Intuitive Surgical, Inc. 1,379,300  1,127,900  660,000  735,900  588,800 

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-04), 10-K (filing date: 2018-02-02), 10-K (filing date: 2017-02-06), 10-K (filing date: 2016-02-02).

Income statement item Description The company
Revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Intuitive Surgical Inc.’s revenue increased from 2017 to 2018 and from 2018 to 2019.
Income from operations The net result for the period of deducting operating expenses from operating revenues. Intuitive Surgical Inc.’s income from operations increased from 2017 to 2018 and from 2018 to 2019.
Income before taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Intuitive Surgical Inc.’s income before taxes increased from 2017 to 2018 and from 2018 to 2019.
Net income attributable to Intuitive Surgical, Inc. The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Intuitive Surgical Inc.’s net income attributable to Intuitive Surgical, Inc. increased from 2017 to 2018 and from 2018 to 2019.