Intuitive Surgical Inc. (ISRG)


Analysis of Liquidity Ratios
Quarterly Data

Beginner level


Liquidity Ratios (Summary)

Intuitive Surgical Inc., liquidity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Current ratio 4.64 5.04 5.44 5.28 6.05 5.98 5.82 3.99 4.76 4.41 3.88 5.45 5.51 5.78 5.31 4.46 5.01 4.56 4.29 3.69 3.31 3.09 4.52
Quick ratio 3.80 4.15 4.53 4.56 5.28 5.20 5.15 3.51 4.25 3.84 3.36 5.00 5.01 5.29 4.71 3.97 4.33 3.97 3.62 3.09 2.65 2.52 3.91
Cash ratio 3.11 3.37 3.79 3.73 4.46 4.40 4.33 2.78 3.49 3.04 2.62 4.28 4.19 4.46 3.99 3.17 3.63 3.29 2.98 2.46 2.11 1.97 3.39

Based on: 10-Q (filing date: 2019-10-18), 10-Q (filing date: 2019-07-22), 10-Q (filing date: 2019-04-19), 10-K (filing date: 2019-02-04), 10-Q (filing date: 2018-10-22), 10-Q (filing date: 2018-07-20), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-02-02), 10-Q (filing date: 2017-10-20), 10-Q (filing date: 2017-07-21), 10-Q (filing date: 2017-04-19), 10-K (filing date: 2017-02-06), 10-Q (filing date: 2016-10-19), 10-Q (filing date: 2016-07-20), 10-Q (filing date: 2016-04-19), 10-K (filing date: 2016-02-02), 10-Q (filing date: 2015-10-21), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22), 10-K (filing date: 2015-02-06), 10-Q (filing date: 2014-10-23), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-25).

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Intuitive Surgical Inc.’s current ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Intuitive Surgical Inc.’s quick ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Intuitive Surgical Inc.’s cash ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Current Ratio

Intuitive Surgical Inc., current ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in thousands)
Current assets 4,317,000  4,071,600  4,025,000  4,333,200  4,252,600  3,986,100  3,381,700  2,810,900  2,928,900  2,642,200  2,167,700  3,250,400  2,911,400  2,827,400  2,406,400  2,195,500  2,398,800  2,163,200  1,959,300  1,847,000  1,591,900  1,533,400  2,077,600 
Current liabilities 930,900  807,500  740,200  820,600  703,300  666,400  581,200  704,100  615,700  599,800  558,200  596,500  528,100  489,500  452,900  491,900  478,600  474,400  456,900  501,200  480,500  495,900  459,500 
Liquidity Ratio
Current ratio1 4.64 5.04 5.44 5.28 6.05 5.98 5.82 3.99 4.76 4.41 3.88 5.45 5.51 5.78 5.31 4.46 5.01 4.56 4.29 3.69 3.31 3.09 4.52
Benchmarks
Current Ratio, Competitors2
Becton, Dickinson & Co. 1.09 0.96 0.97 1.03 1.23 1.70 1.54 5.58 5.56 1.22 1.14 1.45 1.55 1.51 1.25 1.38 1.40 1.56 5.82 2.74 2.89 2.95 2.88
Boston Scientific Corp. 1.14 1.31 1.39 0.76 0.78 0.83 0.82 0.68 0.72 0.75 0.87 0.90 1.05 1.05 1.21 1.43 1.55 1.95 1.29 1.27 1.74 1.81 1.71
Medtronic PLC 2.36 2.56 2.46 2.28 2.43 2.40 1.64 1.75 1.77 2.35 2.98 3.29 3.39 3.53 3.81 3.36 6.80 3.11 3.82 3.82 3.62 3.54 4.22
Stryker Corp. 2.18 2.07 2.12 2.02 1.91 1.83 1.64 2.29 2.37 2.39 3.09 2.50 2.43 2.17 3.55 2.27 2.26 2.40 2.36 2.17 2.21 2.53 2.37
Thermo Fisher Scientific Inc. 1.80 1.49 1.69 1.73 1.84 1.58 1.36 1.34 1.26 1.47 1.37 1.44 1.56 1.15 1.03 1.38 1.05 1.02 0.90 1.22 0.92 0.95 1.36
UnitedHealth Group Inc. 0.70 0.67 0.73 0.73 0.69 0.75 0.71 0.73 0.70 0.72 0.71 0.69 0.70 0.70 0.73 0.74 0.75 0.77 0.77 0.77 0.74 0.74 0.73

Based on: 10-Q (filing date: 2019-10-18), 10-Q (filing date: 2019-07-22), 10-Q (filing date: 2019-04-19), 10-K (filing date: 2019-02-04), 10-Q (filing date: 2018-10-22), 10-Q (filing date: 2018-07-20), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-02-02), 10-Q (filing date: 2017-10-20), 10-Q (filing date: 2017-07-21), 10-Q (filing date: 2017-04-19), 10-K (filing date: 2017-02-06), 10-Q (filing date: 2016-10-19), 10-Q (filing date: 2016-07-20), 10-Q (filing date: 2016-04-19), 10-K (filing date: 2016-02-02), 10-Q (filing date: 2015-10-21), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22), 10-K (filing date: 2015-02-06), 10-Q (filing date: 2014-10-23), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-25).

1 Q3 2019 Calculation
Current ratio = Current assets ÷ Current liabilities
= 4,317,000 ÷ 930,900 = 4.64

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Intuitive Surgical Inc.’s current ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Quick Ratio

Intuitive Surgical Inc., quick ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in thousands)
Cash and cash equivalents 969,600  790,300  875,700  857,900  1,008,300  1,203,500  974,700  648,200  875,000  696,500  708,600  1,036,600  1,021,600  1,193,500  980,500  714,600  868,200  915,400  701,100  600,300  493,000  507,600  814,000 
Short-term investments 1,928,000  1,928,100  1,933,000  2,205,200  2,127,600  1,729,000  1,542,600  1,312,400  1,271,800  1,126,900  756,200  1,518,000  1,193,700  990,300  827,900  845,200  871,500  646,100  661,100  632,200  521,300  471,000  745,300 
Accounts receivable, net 639,000  633,400  547,600  682,300  580,400  532,500  474,900  511,900  468,000  481,100  412,900  430,200  432,000  403,800  325,900  394,300  334,700  321,500  292,400  315,100  259,100  271,100  239,100 
Total quick assets 3,536,600  3,351,800  3,356,300  3,745,400  3,716,300  3,465,000  2,992,200  2,472,500  2,614,800  2,304,500  1,877,700  2,984,800  2,647,300  2,587,600  2,134,300  1,954,100  2,074,400  1,883,000  1,654,600  1,547,600  1,273,400  1,249,700  1,798,400 
 
Current liabilities 930,900  807,500  740,200  820,600  703,300  666,400  581,200  704,100  615,700  599,800  558,200  596,500  528,100  489,500  452,900  491,900  478,600  474,400  456,900  501,200  480,500  495,900  459,500 
Liquidity Ratio
Quick ratio1 3.80 4.15 4.53 4.56 5.28 5.20 5.15 3.51 4.25 3.84 3.36 5.00 5.01 5.29 4.71 3.97 4.33 3.97 3.62 3.09 2.65 2.52 3.91
Benchmarks
Quick Ratio, Competitors2
Becton, Dickinson & Co. 0.45 0.43 0.46 0.50 0.62 0.84 0.68 4.77 4.77 0.53 0.54 0.72 0.79 0.75 0.69 0.70 0.72 0.78 4.72 1.76 1.84 1.86 1.82
Boston Scientific Corp. 0.49 0.38 0.39 0.33 0.34 0.38 0.37 0.31 0.35 0.38 0.45 0.47 0.54 0.57 0.62 0.66 0.73 1.08 0.57 0.62 0.81 0.93 0.82
Medtronic PLC 1.69 1.88 1.83 1.71 1.85 1.84 1.25 1.36 1.33 1.76 2.30 2.54 2.72 2.74 2.98 2.68 6.18 2.62 3.25 3.25 3.07 2.98 3.51
Stryker Corp. 1.14 1.08 1.09 1.25 1.03 0.99 0.95 1.43 1.43 1.59 2.02 1.70 1.59 1.50 2.85 1.64 1.37 1.55 1.57 1.47 1.47 1.68 1.54
Thermo Fisher Scientific Inc. 0.97 0.85 0.89 1.01 0.95 0.81 0.70 0.74 0.63 0.76 0.72 0.79 0.92 0.61 0.55 0.72 0.53 0.56 0.50 0.71 0.49 0.52 0.78
UnitedHealth Group Inc. 0.59 0.57 0.61 0.61 0.57 0.64 0.60 0.62 0.61 0.63 0.62 0.59 0.60 0.58 0.60 0.61 0.61 0.62 0.60 0.62 0.59 0.58 0.56

Based on: 10-Q (filing date: 2019-10-18), 10-Q (filing date: 2019-07-22), 10-Q (filing date: 2019-04-19), 10-K (filing date: 2019-02-04), 10-Q (filing date: 2018-10-22), 10-Q (filing date: 2018-07-20), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-02-02), 10-Q (filing date: 2017-10-20), 10-Q (filing date: 2017-07-21), 10-Q (filing date: 2017-04-19), 10-K (filing date: 2017-02-06), 10-Q (filing date: 2016-10-19), 10-Q (filing date: 2016-07-20), 10-Q (filing date: 2016-04-19), 10-K (filing date: 2016-02-02), 10-Q (filing date: 2015-10-21), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22), 10-K (filing date: 2015-02-06), 10-Q (filing date: 2014-10-23), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-25).

1 Q3 2019 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 3,536,600 ÷ 930,900 = 3.80

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Intuitive Surgical Inc.’s quick ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Cash Ratio

Intuitive Surgical Inc., cash ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in thousands)
Cash and cash equivalents 969,600  790,300  875,700  857,900  1,008,300  1,203,500  974,700  648,200  875,000  696,500  708,600  1,036,600  1,021,600  1,193,500  980,500  714,600  868,200  915,400  701,100  600,300  493,000  507,600  814,000 
Short-term investments 1,928,000  1,928,100  1,933,000  2,205,200  2,127,600  1,729,000  1,542,600  1,312,400  1,271,800  1,126,900  756,200  1,518,000  1,193,700  990,300  827,900  845,200  871,500  646,100  661,100  632,200  521,300  471,000  745,300 
Total cash assets 2,897,600  2,718,400  2,808,700  3,063,100  3,135,900  2,932,500  2,517,300  1,960,600  2,146,800  1,823,400  1,464,800  2,554,600  2,215,300  2,183,800  1,808,400  1,559,800  1,739,700  1,561,500  1,362,200  1,232,500  1,014,300  978,600  1,559,300 
 
Current liabilities 930,900  807,500  740,200  820,600  703,300  666,400  581,200  704,100  615,700  599,800  558,200  596,500  528,100  489,500  452,900  491,900  478,600  474,400  456,900  501,200  480,500  495,900  459,500 
Liquidity Ratio
Cash ratio1 3.11 3.37 3.79 3.73 4.46 4.40 4.33 2.78 3.49 3.04 2.62 4.28 4.19 4.46 3.99 3.17 3.63 3.29 2.98 2.46 2.11 1.97 3.39
Benchmarks
Cash Ratio, Competitors2
Becton, Dickinson & Co. 0.10 0.11 0.15 0.17 0.25 0.32 0.27 4.25 4.24 0.14 0.21 0.36 0.40 0.39 0.35 0.33 0.35 0.43 4.22 1.23 1.26 1.30 1.26
Boston Scientific Corp. 0.07 0.03 0.03 0.03 0.03 0.04 0.06 0.03 0.04 0.05 0.04 0.05 0.08 0.14 0.13 0.13 0.16 0.47 0.10 0.21 0.14 0.20 0.11
Medtronic PLC 1.03 1.20 1.21 1.11 1.32 1.29 0.86 0.96 0.90 1.17 1.62 1.76 2.12 2.12 2.35 2.12 5.55 2.08 2.57 2.56 2.43 2.29 2.66
Stryker Corp. 0.52 0.47 0.47 0.77 0.53 0.47 0.51 0.80 0.83 1.05 1.28 1.07 1.00 1.01 2.35 1.16 0.95 1.15 1.15 1.12 1.11 1.28 1.14
Thermo Fisher Scientific Inc. 0.22 0.30 0.19 0.34 0.21 0.16 0.13 0.19 0.11 0.12 0.13 0.16 0.37 0.12 0.13 0.11 0.09 0.13 0.13 0.25 0.09 0.09 0.28
UnitedHealth Group Inc. 0.25 0.28 0.27 0.27 0.25 0.35 0.33 0.31 0.34 0.31 0.34 0.27 0.31 0.23 0.28 0.30 0.25 0.27 0.30 0.30 0.30 0.27 0.31

Based on: 10-Q (filing date: 2019-10-18), 10-Q (filing date: 2019-07-22), 10-Q (filing date: 2019-04-19), 10-K (filing date: 2019-02-04), 10-Q (filing date: 2018-10-22), 10-Q (filing date: 2018-07-20), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-02-02), 10-Q (filing date: 2017-10-20), 10-Q (filing date: 2017-07-21), 10-Q (filing date: 2017-04-19), 10-K (filing date: 2017-02-06), 10-Q (filing date: 2016-10-19), 10-Q (filing date: 2016-07-20), 10-Q (filing date: 2016-04-19), 10-K (filing date: 2016-02-02), 10-Q (filing date: 2015-10-21), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22), 10-K (filing date: 2015-02-06), 10-Q (filing date: 2014-10-23), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-25).

1 Q3 2019 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 2,897,600 ÷ 930,900 = 3.11

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Intuitive Surgical Inc.’s cash ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.