Income Statement
Quarterly Data
The income statement presents information on the financial results of a company 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.
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- 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
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Intuitive Surgical Inc., consolidated income statement (quarterly data)
US$ in thousands
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).
The financial data reveals several key trends in revenue, cost structures, profitability, and expenses over a series of consecutive quarters. The analysis highlights patterns in product and service segments, gross profit, operating expenses, and net income outcomes.
- Revenue Trends
- Total revenue demonstrated a generally upward trajectory over the periods analyzed. Product revenue experienced fluctuations with some quarters showing declines but ultimately increased significantly towards the latest quarters, reaching a peak beyond 2 billion USD. Service revenue displayed more stability and steady growth, with consistent incremental increases each quarter. Overall, combined revenue showed robust growth indicative of an expanding business.
- Cost of Revenue and Gross Profit
- Cost of revenue rose steady across all quarters, reflecting increasing costs associated with higher sales volumes. Product-related costs were notably higher than service-related costs. Despite rising costs, gross profit increased consistently, suggesting that revenue growth outpaced cost increases. Gross profit showed a steady increase from approximately 738 million USD early on to above 1.6 billion USD in later quarters, demonstrating improved margin management or scale efficiencies.
- Operating Expenses
- Operating expenses, including selling, general and administrative (SG&A) costs, as well as research and development (R&D), generally trended upwards. SG&A expenses fluctuated but showed significant spikes in several quarters, particularly in the latest periods, indicating increased spending possibly related to expansion or marketing efforts. R&D expenses steadily rose, reflecting ongoing investment in innovation and product development. Total operating expenses increased from around 455 million USD to nearly 900 million USD, possibly indicative of scale-up efforts or cost pressures.
- Profitability Metrics
- Income from operations exhibited a generally positive trend with some volatility. Initial quarters showed lower operating income around 283 million USD, with fluctuations and subsequent growth exceeding 750 million USD in the most recent quarters. Interest and other income also contributed small but positive amounts in most periods, supporting overall profitability.
- Income Before Taxes and Income Tax Expense
- Income before taxes followed a pattern similar to operating income, growing from roughly 308 million USD to above 850 million USD. However, income tax expenses demonstrated volatility, with several loss offsets and significant fluctuations, including positive and negative figures, impacting net profitability.
- Net Income
- Net income attributable to the company showed a clear upward trend despite quarterly variability. It grew from around 313 million USD to over 700 million USD in the most recent quarter. The fluctuations in income tax influenced the net results, but overall growth in net income suggests effective management of costs and revenue expansion simultaneously. Net income attributable to noncontrolling interest was relatively minor but generally negative, exerting minimal impact on overall earnings attributable to the company.
In summary, the financial data indicates consistent revenue growth driven by both product and service segments, with product revenue showing more pronounced fluctuations but overall strong increases. Gross profit expanded in line with revenue growth despite rising costs. Operating expenses increased notably, reflecting investments in sales, administration, and R&D. Profitability improved substantially over time, with income from operations and net income showing positive trajectories. Fluctuations in tax expenses affected net income volatility, but the overall financial profile demonstrates steady improvement in earnings and scalable operations.