Return on Equity (ROE)
since 2005
Calculation
Intuitive Surgical Inc., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income attributable to Intuitive Surgical, Inc.1 | ÷ | Total Intuitive Surgical, Inc. stockholders’ equity1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2024 | 14.13% | = | 100 | × | 2,322,600) | ÷ | 16,433,700) |
| Dec 31, 2023 | 13.51% | = | 100 | × | 1,798,000) | ÷ | 13,307,600) |
| Dec 31, 2022 | 11.98% | = | 100 | × | 1,322,300) | ÷ | 11,041,900) |
| Dec 31, 2021 | 14.32% | = | 100 | × | 1,704,600) | ÷ | 11,901,100) |
| Dec 31, 2020 | 10.90% | = | 100 | × | 1,060,600) | ÷ | 9,731,500) |
| Dec 31, 2019 | 16.69% | = | 100 | × | 1,379,300) | ÷ | 8,263,800) |
| Dec 31, 2018 | 16.89% | = | 100 | × | 1,127,900) | ÷ | 6,678,800) |
| Dec 31, 2017 | 13.97% | = | 100 | × | 660,000) | ÷ | 4,725,200) |
| Dec 31, 2016 | 12.74% | = | 100 | × | 735,900) | ÷ | 5,777,800) |
| Dec 31, 2015 | 13.63% | = | 100 | × | 588,800) | ÷ | 4,319,500) |
| Dec 31, 2014 | 12.39% | = | 100 | × | 418,800) | ÷ | 3,379,400) |
| Dec 31, 2013 | 19.16% | = | 100 | × | 671,000) | ÷ | 3,501,400) |
| Dec 31, 2012 | 18.34% | = | 100 | × | 656,600) | ÷ | 3,580,100) |
| Dec 31, 2011 | 18.71% | = | 100 | × | 495,100) | ÷ | 2,645,600) |
| Dec 31, 2010 | 18.74% | = | 100 | × | 381,800) | ÷ | 2,037,400) |
| Dec 31, 2009 | 15.13% | = | 100 | × | 232,606) | ÷ | 1,537,283) |
| Dec 31, 2008 | 16.13% | = | 100 | × | 204,315) | ÷ | 1,266,766) |
| Dec 31, 2007 | 16.26% | = | 100 | × | 144,537) | ÷ | 888,674) |
| Dec 31, 2006 | 12.22% | = | 100 | × | 72,044) | ÷ | 589,705) |
| Dec 31, 2005 | 21.27% | = | 100 | × | 94,134) | ÷ | 442,591) |
Based on: 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
- Net Income
- The net income attributable to the company showed significant fluctuations across the reported periods. Initially, net income decreased from 94,134 thousand US dollars in 2005 to 72,044 thousand US dollars in 2006, followed by a notable recovery and upward trend reaching a peak of 1,379,300 thousand US dollars in 2019. After 2019, the net income exhibited volatility with a decline to 1,060,600 thousand US dollars in 2020, then a recovery to 1,704,600 thousand in 2021, a dip in 2022, and a strong rise again in 2023 and 2024, culminating at 2,322,600 thousand US dollars. This pattern suggests periods of accelerated growth interrupted by short-term setbacks but overall a strong growth trajectory over the long term.
- Total Stockholders’ Equity
- The company’s total stockholders’ equity consistently increased over the years, growing from 442,591 thousand US dollars in 2005 to 16,433,700 thousand US dollars by 2024. The growth trend shows a steady accumulation of equity, with some fluctuations around 2012 to 2014 where equity slightly decreased before resuming upward momentum. The increase indicates sustained retention and reinvestment of earnings and possibly successful capital issuance strategies, contributing to strengthened financial stability and capacity for growth.
- Return on Equity (ROE)
- The ROE percentage experienced notable variation over the period under review. It started at 21.27% in 2005, decreased sharply to 12.22% in 2006, and generally fluctuated between 11.98% and 19.16% in subsequent years. The highest ROE within this span was 21.27% (2005) and the lowest was around 10.9% (2020). While ROE has moving trends within a moderate range, it generally remained above 10%, indicating consistent profitability relative to equity. Periods of decline in ROE often coincided with years of lower net income growth or higher equity bases, suggesting dilution or temporary profitability constraints.
- Overall Observations
- The company’s financial performance over the period reflects a strong upward momentum in profitability and equity growth. Despite cyclical declines in net income and fluctuations in ROE, the overall trajectory supports an expanding and profitable enterprise. The substantial increase in stockholders’ equity underscores confidence and financial robustness, while the steady ROE signals continued effective use of equity. The trends highlight the company’s resilience and capacity to generate increasing returns in the long term despite market or operational challenges reflected in short-term variabilities.
Comparison to Competitors
Intuitive Surgical Inc., ROE, long-term trends, comparison to competitors
| Intuitive Surgical Inc. | Abbott Laboratories | CVS Health Corp. | Elevance Health Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2024 | 14.13% | 28.12% | 6.11% | 14.47% | 7.32% | 15.55% |
| Dec 31, 2023 | 13.51% | 14.83% | 10.91% | 15.23% | 7.30% | 25.22% |
| Dec 31, 2022 | 11.98% | 18.90% | 5.84% | 16.59% | 9.59% | 25.87% |
| Dec 31, 2021 | 14.32% | 19.75% | 10.54% | 16.93% | 7.01% | 24.09% |
| Dec 31, 2020 | 10.90% | 13.71% | 10.35% | 13.77% | 9.44% | 23.52% |
| Dec 31, 2019 | 16.69% | 11.86% | 10.39% | 15.15% | 9.25% | 24.02% |
| Dec 31, 2018 | 16.89% | 7.76% | -1.02% | 13.14% | 6.12% | 23.19% |
| Dec 31, 2017 | 13.97% | 1.54% | 17.57% | 14.50% | 8.01% | 22.10% |
| Dec 31, 2016 | 12.74% | 6.82% | 14.44% | 9.84% | 6.80% | 18.33% |
| Dec 31, 2015 | 13.63% | 20.85% | 14.08% | 11.11% | 5.03% | 17.18% |
| Dec 31, 2014 | 12.39% | 10.61% | 12.23% | 10.60% | 15.76% | 17.31% |
| Dec 31, 2013 | 19.16% | 10.23% | 12.10% | 10.05% | 18.57% | 17.50% |
| Dec 31, 2012 | 18.34% | 22.32% | 10.28% | 11.16% | 21.14% | 17.72% |
| Dec 31, 2011 | 18.71% | 19.35% | 9.10% | 11.36% | 19.39% | 18.17% |
| Dec 31, 2010 | 18.74% | 20.66% | 9.09% | 12.12% | 21.18% | 17.94% |
| Dec 31, 2009 | 15.13% | 25.14% | 10.33% | 19.09% | 16.88% | 16.19% |
| Dec 31, 2008 | 16.13% | 27.92% | 9.29% | 11.62% | 19.34% | 14.33% |
| Dec 31, 2007 | 16.26% | 20.28% | 8.42% | 14.55% | 25.53% | 23.20% |
| Dec 31, 2006 | 12.22% | 12.22% | 13.80% | 12.59% | 27.14% | 19.99% |
| Dec 31, 2005 | 21.27% | 23.39% | 14.70% | 9.86% | 17.26% | 18.61% |
Based on: 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., ROE, long-term trends, comparison to sector (health care equipment & services)
| Intuitive Surgical Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2024 | 14.13% | 13.71% |
| Dec 31, 2023 | 13.51% | 15.59% |
| Dec 31, 2022 | 11.98% | 15.27% |
| Dec 31, 2021 | 14.32% | 15.49% |
| Dec 31, 2020 | 10.90% | 14.35% |
| Dec 31, 2019 | 16.69% | 14.41% |
| Dec 31, 2018 | 16.89% | 9.60% |
| Dec 31, 2017 | 13.97% | 13.23% |
| Dec 31, 2016 | 12.74% | 11.47% |
| Dec 31, 2015 | 13.63% | 12.32% |
| Dec 31, 2014 | 12.39% | 13.38% |
| Dec 31, 2013 | 19.16% | 13.66% |
| Dec 31, 2012 | 18.34% | 15.91% |
| Dec 31, 2011 | 18.71% | 14.75% |
| Dec 31, 2010 | 18.74% | 15.08% |
| Dec 31, 2009 | 15.13% | 16.80% |
| Dec 31, 2008 | 16.13% | 14.94% |
| Dec 31, 2007 | 16.26% | 16.53% |
| Dec 31, 2006 | 12.22% | 16.33% |
| Dec 31, 2005 | 21.27% | 16.05% |
Based on: 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., ROE, long-term trends, comparison to industry (health care)
| Intuitive Surgical Inc. | Health Care | |
|---|---|---|
| Dec 31, 2024 | 14.13% | 14.75% |
| Dec 31, 2023 | 13.51% | 18.50% |
| Dec 31, 2022 | 11.98% | 22.94% |
| Dec 31, 2021 | 14.32% | 23.78% |
| Dec 31, 2020 | 10.90% | 15.95% |
| Dec 31, 2019 | 16.69% | 21.79% |
| Dec 31, 2018 | 16.89% | 18.65% |
| Dec 31, 2017 | 13.97% | 14.05% |
| Dec 31, 2016 | 12.74% | 18.22% |
| Dec 31, 2015 | 13.63% | 18.18% |
| Dec 31, 2014 | 12.39% | 18.58% |
| Dec 31, 2013 | 19.16% | 18.25% |
| Dec 31, 2012 | 18.34% | 17.51% |
| Dec 31, 2011 | 18.71% | 15.27% |
| Dec 31, 2010 | 18.74% | 14.32% |
| Dec 31, 2009 | 15.13% | 19.27% |
| Dec 31, 2008 | 16.13% | 19.00% |
| Dec 31, 2007 | 16.26% | 16.88% |
| Dec 31, 2006 | 12.22% | 20.24% |
| Dec 31, 2005 | 21.27% | 18.16% |
Based on: 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).