Return on Assets (ROA)
since 2005
Calculation
Intuitive Surgical Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income attributable to Intuitive Surgical, Inc.1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 13.96% | = | 100 | × | 2,856,000) | ÷ | 20,458,700) |
| Dec 31, 2024 | 12.39% | = | 100 | × | 2,322,600) | ÷ | 18,743,200) |
| Dec 31, 2023 | 11.64% | = | 100 | × | 1,798,000) | ÷ | 15,441,500) |
| Dec 31, 2022 | 10.19% | = | 100 | × | 1,322,300) | ÷ | 12,974,000) |
| Dec 31, 2021 | 12.58% | = | 100 | × | 1,704,600) | ÷ | 13,555,000) |
| Dec 31, 2020 | 9.50% | = | 100 | × | 1,060,600) | ÷ | 11,168,900) |
| Dec 31, 2019 | 14.17% | = | 100 | × | 1,379,300) | ÷ | 9,733,200) |
| Dec 31, 2018 | 14.37% | = | 100 | × | 1,127,900) | ÷ | 7,846,700) |
| Dec 31, 2017 | 11.46% | = | 100 | × | 660,000) | ÷ | 5,758,000) |
| Dec 31, 2016 | 11.34% | = | 100 | × | 735,900) | ÷ | 6,486,900) |
| Dec 31, 2015 | 12.00% | = | 100 | × | 588,800) | ÷ | 4,907,300) |
| Dec 31, 2014 | 10.58% | = | 100 | × | 418,800) | ÷ | 3,959,400) |
| Dec 31, 2013 | 16.99% | = | 100 | × | 671,000) | ÷ | 3,950,300) |
| Dec 31, 2012 | 16.18% | = | 100 | × | 656,600) | ÷ | 4,059,200) |
| Dec 31, 2011 | 16.16% | = | 100 | × | 495,100) | ÷ | 3,063,100) |
| Dec 31, 2010 | 15.97% | = | 100 | × | 381,800) | ÷ | 2,390,400) |
| Dec 31, 2009 | 12.85% | = | 100 | × | 232,606) | ÷ | 1,809,716) |
| Dec 31, 2008 | 13.86% | = | 100 | × | 204,315) | ÷ | 1,474,624) |
| Dec 31, 2007 | 13.90% | = | 100 | × | 144,537) | ÷ | 1,039,998) |
| Dec 31, 2006 | 10.72% | = | 100 | × | 72,044) | ÷ | 671,790) |
| Dec 31, 2005 | 18.77% | = | 100 | × | 94,134) | ÷ | 501,587) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The Return on Assets (ROA) for the period between 2005 and 2025 demonstrates considerable fluctuation, generally trending upwards with notable dips in specific years. Initial values indicate a strong ROA, followed by a period of relative stability and then a resurgence. A detailed examination reveals distinct phases in the company’s asset utilization efficiency.
- Initial Growth & Volatility (2005-2009)
- From 2005 to 2009, the ROA experienced significant variability. It began at 18.77% in 2005, decreased to 10.72% in 2006, and then increased to 13.90% in 2007. Subsequent years saw continued fluctuation, reaching 13.86% in 2008 and 12.85% in 2009. This period suggests a developing business model with evolving profitability relative to its asset base.
- Period of Expansion & High ROA (2010-2014)
- Between 2010 and 2014, the ROA generally increased, indicating improved asset utilization. The ROA rose from 15.97% in 2010 to a peak of 16.99% in 2013, before decreasing to 10.58% in 2014. This phase coincides with substantial growth in both net income and total assets, suggesting effective capital deployment.
- Moderate Fluctuations (2015-2019)
- From 2015 to 2019, the ROA exhibited moderate fluctuations, remaining within a range of 11.34% to 14.37%. This suggests a period of relative stability in the company’s profitability relative to its asset base, despite continued growth in both net income and total assets. The ROA peaked at 14.37% in 2018.
- Recent Performance & Variability (2020-2025)
- The period from 2020 to 2025 shows increased variability. The ROA decreased significantly to 9.50% in 2020, potentially influenced by external factors. It then recovered to 12.58% in 2021, followed by 10.19% in 2022, and a rise to 13.96% in 2025. This recent performance indicates a potential return to improved asset utilization, but with continued sensitivity to changing conditions.
Overall, the ROA demonstrates a pattern of growth and fluctuation. While the company has generally maintained a respectable ROA, the recent period highlights a degree of sensitivity to external factors and the need for continued focus on efficient asset management to sustain profitability.
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Comparison to Competitors
Intuitive Surgical Inc., ROA, long-term trends, comparison to competitors
| Intuitive Surgical Inc. | Abbott Laboratories | Elevance Health Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 13.96% | 7.52% | 4.66% | 5.09% | 3.89% |
| Dec 31, 2024 | 12.39% | 16.46% | 5.12% | 4.09% | 4.83% |
| Dec 31, 2023 | 11.64% | 7.82% | 5.50% | 4.13% | 8.18% |
| Dec 31, 2022 | 10.19% | 9.31% | 5.86% | 5.54% | 8.19% |
| Dec 31, 2021 | 12.58% | 9.40% | 6.26% | 3.87% | 8.15% |
| Dec 31, 2020 | 9.50% | 6.20% | 5.28% | 5.28% | 7.81% |
| Dec 31, 2019 | 14.17% | 5.43% | 6.21% | 5.16% | 7.96% |
| Dec 31, 2018 | 14.37% | 3.53% | 5.24% | 3.40% | 7.87% |
| Dec 31, 2017 | 11.46% | 0.63% | 5.45% | 4.04% | 7.59% |
| Dec 31, 2016 | 11.34% | 2.66% | 3.79% | 3.55% | 5.71% |
| Dec 31, 2015 | 12.00% | 10.72% | 4.15% | 2.51% | 5.22% |
| Dec 31, 2014 | 10.58% | 5.53% | 4.14% | 8.08% | 6.50% |
| Dec 31, 2013 | 16.99% | 6.00% | 4.18% | 9.95% | 6.87% |
| Dec 31, 2012 | 16.18% | 8.87% | 4.50% | 10.93% | 6.83% |
| Dec 31, 2011 | 16.16% | 7.84% | 5.09% | 10.18% | 7.57% |
| Dec 31, 2010 | 15.97% | 7.78% | 5.75% | 11.03% | 7.35% |
| Dec 31, 2009 | 12.85% | 10.96% | 9.10% | 9.17% | 6.47% |
| Dec 31, 2008 | 13.86% | 11.51% | 5.15% | 10.05% | 5.33% |
| Dec 31, 2007 | 13.90% | 9.08% | 6.43% | 14.36% | 9.14% |
| Dec 31, 2006 | 10.72% | 4.75% | 5.98% | 12.95% | 8.61% |
| Dec 31, 2005 | 18.77% | 11.57% | 4.79% | 10.86% | 7.98% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Health Care Equipment & Services)
Intuitive Surgical Inc., ROA, long-term trends, comparison to sector (health care equipment & services)
| Intuitive Surgical Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2025 | 13.96% | 5.04% |
| Dec 31, 2024 | 12.39% | 6.57% |
| Dec 31, 2023 | 11.64% | 7.05% |
| Dec 31, 2022 | 10.19% | 7.49% |
| Dec 31, 2021 | 12.58% | 7.28% |
| Dec 31, 2020 | 9.50% | 6.62% |
| Dec 31, 2019 | 14.17% | 6.77% |
| Dec 31, 2018 | 14.37% | 5.72% |
| Dec 31, 2017 | 11.46% | 5.00% |
| Dec 31, 2016 | 11.34% | 4.37% |
| Dec 31, 2015 | 12.00% | 4.93% |
| Dec 31, 2014 | 10.58% | 6.03% |
| Dec 31, 2013 | 16.99% | 6.64% |
| Dec 31, 2012 | 16.18% | 7.54% |
| Dec 31, 2011 | 16.16% | 7.54% |
| Dec 31, 2010 | 15.97% | 7.69% |
| Dec 31, 2009 | 12.85% | 8.84% |
| Dec 31, 2008 | 13.86% | 7.51% |
| Dec 31, 2007 | 13.90% | 8.92% |
| Dec 31, 2006 | 10.72% | 7.40% |
| Dec 31, 2005 | 18.77% | 7.94% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Intuitive Surgical Inc., ROA, long-term trends, comparison to industry (health care)
| Intuitive Surgical Inc. | Health Care | |
|---|---|---|
| Dec 31, 2025 | 13.96% | 7.89% |
| Dec 31, 2024 | 12.39% | 5.73% |
| Dec 31, 2023 | 11.64% | 7.19% |
| Dec 31, 2022 | 10.19% | 9.66% |
| Dec 31, 2021 | 12.58% | 9.46% |
| Dec 31, 2020 | 9.50% | 5.81% |
| Dec 31, 2019 | 14.17% | 8.32% |
| Dec 31, 2018 | 14.37% | 7.90% |
| Dec 31, 2017 | 11.46% | 5.19% |
| Dec 31, 2016 | 11.34% | 7.31% |
| Dec 31, 2015 | 12.00% | 7.71% |
| Dec 31, 2014 | 10.58% | 8.59% |
| Dec 31, 2013 | 16.99% | 8.76% |
| Dec 31, 2012 | 16.18% | 8.09% |
| Dec 31, 2011 | 16.16% | 7.36% |
| Dec 31, 2010 | 15.97% | 7.24% |
| Dec 31, 2009 | 12.85% | 9.73% |
| Dec 31, 2008 | 13.86% | 9.50% |
| Dec 31, 2007 | 13.90% | 8.88% |
| Dec 31, 2006 | 10.72% | 10.52% |
| Dec 31, 2005 | 18.77% | 9.67% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).