Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Intuitive Surgical Inc. (NASDAQ:ISRG)

Analysis of Solvency Ratios

Beginner level

Solvency Ratios (Summary)

Intuitive Surgical Inc., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Debt Ratios
Debt to equity 0.00 0.00 0.00 0.00 0.00
Debt to equity (including operating lease liability) 0.01 0.01 0.00 0.00 0.00
Debt to capital 0.00 0.00 0.00 0.00 0.00
Debt to capital (including operating lease liability) 0.01 0.01 0.00 0.00 0.00
Debt to assets 0.00 0.00 0.00 0.00 0.00
Debt to assets (including operating lease liability) 0.01 0.01 0.00 0.00 0.00
Financial leverage 1.15 1.18 1.17 1.22 1.12
Coverage Ratios
Interest coverage
Fixed charge coverage 58.48 79.65

Based on: 10-K (filing date: 2021-02-10), 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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Intuitive Surgical Inc.’s debt to equity ratio (including operating lease liability) deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Intuitive Surgical Inc.’s debt to capital ratio (including operating lease liability) deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Intuitive Surgical Inc.’s debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Intuitive Surgical Inc.’s financial leverage ratio increased from 2018 to 2019 but then decreased significantly from 2019 to 2020.

Solvency ratio Description The company

Debt to Equity

Intuitive Surgical Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in thousands)
Total debt —  —  —  —  — 
Total Intuitive Surgical, Inc. stockholders’ equity 9,731,500  8,263,800  6,678,800  4,725,200  5,777,800 
Solvency Ratio
Debt to equity1 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Equity, Competitors2
Abbott Laboratories 0.57 0.58 0.64 0.90 1.07
Becton, Dickinson & Co. 0.75 0.92 1.02 1.46 1.51
Boston Scientific Corp. 0.60 0.72 0.81 0.80 0.81
Bristol-Myers Squibb Co. 1.34 0.91 0.52 0.68 0.41
CVS Health Corp. 0.93 1.07 1.26 0.72 0.75
Danaher Corp. 0.53 0.72 0.35 0.40 0.53
Edwards Lifesciences Corp. 0.13 0.14 0.19 0.35 0.31
Medtronic PLC 0.49 0.51 0.51 0.66 0.60
Stryker Corp. 1.07 0.87 0.84 0.72 0.72
UnitedHealth Group Inc. 0.66 0.71 0.71 0.66 0.86
Debt to Equity, Sector
Health Care Equipment & Services 0.73 0.76 0.74 0.71 0.72
Debt to Equity, Industry
Health Care 0.92 0.93 0.87 0.83 0.79

Based on: 10-K (filing date: 2021-02-10), 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).

1 2020 Calculation
Debt to equity = Total debt ÷ Total Intuitive Surgical, Inc. stockholders’ equity
= 0 ÷ 9,731,500 = 0.00

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity.

Debt to Equity (including Operating Lease Liability)

Intuitive Surgical Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in thousands)
Total debt —  —  —  —  — 
Current operating lease liability (reported as Other accrued liabilities) 21,900  7,700  —  —  — 
Long-term operating lease liability (reported as Other long-term liabilities) 58,000  68,700  —  —  — 
Total debt (including operating lease liability) 79,900  76,400  —  —  — 
 
Total Intuitive Surgical, Inc. stockholders’ equity 9,731,500  8,263,800  6,678,800  4,725,200  5,777,800 
Solvency Ratio
Debt to equity (including operating lease liability)1 0.01 0.01 0.00 0.00 0.00
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Abbott Laboratories 0.61 0.61 0.64 0.90 1.07
Becton, Dickinson & Co. 0.77 0.92 1.02 1.46 1.51
Boston Scientific Corp. 0.63 0.75 0.81 0.80 0.81
Bristol-Myers Squibb Co. 1.37 0.92 0.52 0.68 0.41
CVS Health Corp. 1.23 1.39 1.26 0.72 0.75
Danaher Corp. 0.56 0.74 0.35 0.40 0.53
Edwards Lifesciences Corp. 0.15 0.16 0.19 0.35 0.31
Medtronic PLC 0.51 0.51 0.51 0.66 0.60
Stryker Corp. 1.10 0.90 0.84 0.72 0.72
UnitedHealth Group Inc. 0.73 0.77 0.71 0.66 0.86
Debt to Equity (including Operating Lease Liability), Sector
Health Care Equipment & Services 0.82 0.84 0.74 0.71 0.72
Debt to Equity (including Operating Lease Liability), Industry
Health Care 0.98 0.99 0.87 0.83 0.79

Based on: 10-K (filing date: 2021-02-10), 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).

1 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Intuitive Surgical, Inc. stockholders’ equity
= 79,900 ÷ 9,731,500 = 0.01

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Intuitive Surgical Inc.’s debt to equity ratio (including operating lease liability) deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.

Debt to Capital

Intuitive Surgical Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in thousands)
Total debt —  —  —  —  — 
Total Intuitive Surgical, Inc. stockholders’ equity 9,731,500  8,263,800  6,678,800  4,725,200  5,777,800 
Total capital 9,731,500  8,263,800  6,678,800  4,725,200  5,777,800 
Solvency Ratio
Debt to capital1 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Capital, Competitors2
Abbott Laboratories 0.36 0.37 0.39 0.47 0.52
Becton, Dickinson & Co. 0.43 0.48 0.51 0.59 0.60
Boston Scientific Corp. 0.37 0.42 0.45 0.44 0.45
Bristol-Myers Squibb Co. 0.57 0.48 0.34 0.40 0.29
CVS Health Corp. 0.48 0.52 0.56 0.42 0.43
Danaher Corp. 0.35 0.42 0.26 0.29 0.35
Edwards Lifesciences Corp. 0.12 0.13 0.16 0.26 0.24
Medtronic PLC 0.33 0.34 0.34 0.40 0.38
Stryker Corp. 0.52 0.46 0.46 0.42 0.42
UnitedHealth Group Inc. 0.40 0.41 0.41 0.40 0.46
Debt to Capital, Sector
Health Care Equipment & Services 0.42 0.43 0.43 0.41 0.42
Debt to Capital, Industry
Health Care 0.48 0.48 0.47 0.45 0.44

Based on: 10-K (filing date: 2021-02-10), 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).

1 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 0 ÷ 9,731,500 = 0.00

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity.

Debt to Capital (including Operating Lease Liability)

Intuitive Surgical Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in thousands)
Total debt —  —  —  —  — 
Current operating lease liability (reported as Other accrued liabilities) 21,900  7,700  —  —  — 
Long-term operating lease liability (reported as Other long-term liabilities) 58,000  68,700  —  —  — 
Total debt (including operating lease liability) 79,900  76,400  —  —  — 
Total Intuitive Surgical, Inc. stockholders’ equity 9,731,500  8,263,800  6,678,800  4,725,200  5,777,800 
Total capital (including operating lease liability) 9,811,400  8,340,200  6,678,800  4,725,200  5,777,800 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.01 0.01 0.00 0.00 0.00
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Abbott Laboratories 0.38 0.38 0.39 0.47 0.52
Becton, Dickinson & Co. 0.44 0.48 0.51 0.59 0.60
Boston Scientific Corp. 0.39 0.43 0.45 0.44 0.45
Bristol-Myers Squibb Co. 0.58 0.48 0.34 0.40 0.29
CVS Health Corp. 0.55 0.58 0.56 0.42 0.43
Danaher Corp. 0.36 0.43 0.26 0.29 0.35
Edwards Lifesciences Corp. 0.13 0.14 0.16 0.26 0.24
Medtronic PLC 0.34 0.34 0.34 0.40 0.38
Stryker Corp. 0.52 0.47 0.46 0.42 0.42
UnitedHealth Group Inc. 0.42 0.44 0.41 0.40 0.46
Debt to Capital (including Operating Lease Liability), Sector
Health Care Equipment & Services 0.45 0.46 0.43 0.41 0.42
Debt to Capital (including Operating Lease Liability), Industry
Health Care 0.50 0.50 0.47 0.45 0.44

Based on: 10-K (filing date: 2021-02-10), 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).

1 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 79,900 ÷ 9,811,400 = 0.01

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Intuitive Surgical Inc.’s debt to capital ratio (including operating lease liability) deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.

Debt to Assets

Intuitive Surgical Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in thousands)
Total debt —  —  —  —  — 
Total assets 11,168,900  9,733,200  7,846,700  5,758,000  6,486,900 
Solvency Ratio
Debt to assets1 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Assets, Competitors2
Abbott Laboratories 0.26 0.27 0.29 0.37 0.42
Becton, Dickinson & Co. 0.33 0.37 0.40 0.50 0.45
Boston Scientific Corp. 0.30 0.33 0.34 0.29 0.30
Bristol-Myers Squibb Co. 0.43 0.36 0.21 0.24 0.20
CVS Health Corp. 0.28 0.31 0.37 0.28 0.29
Danaher Corp. 0.28 0.35 0.20 0.23 0.27
Edwards Lifesciences Corp. 0.08 0.09 0.11 0.18 0.18
Medtronic PLC 0.27 0.28 0.28 0.34 0.31
Stryker Corp. 0.41 0.37 0.36 0.33 0.34
UnitedHealth Group Inc. 0.22 0.23 0.24 0.23 0.27
Debt to Assets, Sector
Health Care Equipment & Services 0.29 0.30 0.30 0.29 0.30
Debt to Assets, Industry
Health Care 0.32 0.33 0.32 0.31 0.31

Based on: 10-K (filing date: 2021-02-10), 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).

1 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 0 ÷ 11,168,900 = 0.00

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets.

Debt to Assets (including Operating Lease Liability)

Intuitive Surgical Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in thousands)
Total debt —  —  —  —  — 
Current operating lease liability (reported as Other accrued liabilities) 21,900  7,700  —  —  — 
Long-term operating lease liability (reported as Other long-term liabilities) 58,000  68,700  —  —  — 
Total debt (including operating lease liability) 79,900  76,400  —  —  — 
 
Total assets 11,168,900  9,733,200  7,846,700  5,758,000  6,486,900 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.01 0.01 0.00 0.00 0.00
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Abbott Laboratories 0.27 0.28 0.29 0.37 0.42
Becton, Dickinson & Co. 0.34 0.37 0.40 0.50 0.45
Boston Scientific Corp. 0.31 0.34 0.34 0.29 0.30
Bristol-Myers Squibb Co. 0.44 0.37 0.21 0.24 0.20
CVS Health Corp. 0.37 0.40 0.37 0.28 0.29
Danaher Corp. 0.29 0.36 0.20 0.23 0.27
Edwards Lifesciences Corp. 0.10 0.10 0.11 0.18 0.18
Medtronic PLC 0.28 0.28 0.28 0.34 0.31
Stryker Corp. 0.42 0.38 0.36 0.33 0.34
UnitedHealth Group Inc. 0.24 0.26 0.24 0.23 0.27
Debt to Assets (including Operating Lease Liability), Sector
Health Care Equipment & Services 0.32 0.33 0.30 0.29 0.30
Debt to Assets (including Operating Lease Liability), Industry
Health Care 0.34 0.35 0.32 0.31 0.31

Based on: 10-K (filing date: 2021-02-10), 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).

1 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 79,900 ÷ 11,168,900 = 0.01

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Intuitive Surgical Inc.’s debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.

Financial Leverage

Intuitive Surgical Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in thousands)
Total assets 11,168,900  9,733,200  7,846,700  5,758,000  6,486,900 
Total Intuitive Surgical, Inc. stockholders’ equity 9,731,500  8,263,800  6,678,800  4,725,200  5,777,800 
Solvency Ratio
Financial leverage1 1.15 1.18 1.17 1.22 1.12
Benchmarks
Financial Leverage, Competitors2
Abbott Laboratories 2.21 2.18 2.20 2.47 2.56
Becton, Dickinson & Co. 2.27 2.46 2.57 2.91 3.35
Boston Scientific Corp. 2.01 2.20 2.41 2.72 2.69
Bristol-Myers Squibb Co. 3.13 2.52 2.49 2.86 2.08
CVS Health Corp. 3.32 3.48 3.37 2.52 2.56
Danaher Corp. 1.92 2.05 1.70 1.77 1.97
Edwards Lifesciences Corp. 1.58 1.56 1.70 1.93 1.72
Medtronic PLC 1.79 1.79 1.80 1.98 1.92
Stryker Corp. 2.62 2.36 2.32 2.23 2.14
UnitedHealth Group Inc. 3.01 3.02 2.94 2.91 3.21
Financial Leverage, Sector
Health Care Equipment & Services 2.55 2.54 2.48 2.40 2.39
Financial Leverage, Industry
Health Care 2.87 2.85 2.76 2.65 2.54

Based on: 10-K (filing date: 2021-02-10), 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).

1 2020 Calculation
Financial leverage = Total assets ÷ Total Intuitive Surgical, Inc. stockholders’ equity
= 11,168,900 ÷ 9,731,500 = 1.15

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Intuitive Surgical Inc.’s financial leverage ratio increased from 2018 to 2019 but then decreased significantly from 2019 to 2020.

Interest Coverage

Intuitive Surgical Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in thousands)
Net income attributable to Intuitive Surgical, Inc. 1,060,600  1,379,300  1,127,900  660,000  735,900 
Add: Net income attributable to noncontrolling interest 6,200  2,500  (2,900) —  — 
Add: Income tax expense 140,200  120,400  154,500  436,500  244,900 
Add: Interest expense —  —  —  —  — 
Earnings before interest and tax (EBIT) 1,207,000  1,502,200  1,279,500  1,096,500  980,800 
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Abbott Laboratories 10.10 7.09 4.48 3.47 4.28
Becton, Dickinson & Co. 2.87 2.84 2.66 2.87 3.77
Boston Scientific Corp. 0.78 2.45 6.90 5.07 1.76
Bristol-Myers Squibb Co. -3.84 8.58 33.61 27.18 36.42
CVS Health Corp. 4.36 3.96 1.54 8.79 9.01
Danaher Corp. 17.35 31.44 21.92 19.06 15.16
Edwards Lifesciences Corp. 59.02 57.35 26.46 45.61 39.43
Medtronic PLC 4.71 4.60 5.95 5.21 4.13
Stryker Corp. 7.20 9.93 9.92 9.35 9.43
UnitedHealth Group Inc. 13.47 11.55 12.39 12.82 12.12
Interest Coverage, Sector
Health Care Equipment & Services 5.62 6.71 6.57 8.70 8.66
Interest Coverage, Industry
Health Care 7.38 8.90 8.35 10.03 10.59

Based on: 10-K (filing date: 2021-02-10), 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).

1 2020 Calculation
Interest coverage = EBIT ÷ Interest expense
= 1,207,000 ÷ 0 =

2 Click competitor name to see calculations.


Fixed Charge Coverage

Intuitive Surgical Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in thousands)
Net income attributable to Intuitive Surgical, Inc. 1,060,600  1,379,300  1,127,900  660,000  735,900 
Add: Net income attributable to noncontrolling interest 6,200  2,500  (2,900) —  — 
Add: Income tax expense 140,200  120,400  154,500  436,500  244,900 
Add: Interest expense —  —  —  —  — 
Earnings before interest and tax (EBIT) 1,207,000  1,502,200  1,279,500  1,096,500  980,800 
Add: Operating lease expense 21,000  19,100  —  —  — 
Earnings before fixed charges and tax 1,228,000  1,521,300  1,279,500  1,096,500  980,800 
 
Interest expense —  —  —  —  — 
Operating lease expense 21,000  19,100  —  —  — 
Fixed charges 21,000  19,100  —  —  — 
Solvency Ratio
Fixed charge coverage1 58.48 79.65
Benchmarks
Fixed Charge Coverage, Competitors2
Abbott Laboratories 6.68 5.14 4.48 3.47 4.28
Becton, Dickinson & Co. 2.07 1.99 1.92 2.18 3.15
Boston Scientific Corp. 0.76 2.24 5.27 3.94 1.57
Bristol-Myers Squibb Co. -3.08 7.10 20.07 17.24 19.96
CVS Health Corp. 2.75 2.56 1.27 3.35 3.47
Danaher Corp. 7.10 8.38 8.49 8.14 7.46
Edwards Lifesciences Corp. 20.80 25.00 14.38 21.49 18.53
Medtronic PLC 3.98 3.97 4.87 4.32 3.62
Stryker Corp. 5.39 7.10 6.86 6.55 6.65
UnitedHealth Group Inc. 8.51 7.65 8.41 8.40 8.08
Fixed Charge Coverage, Sector
Health Care Equipment & Services 3.83 4.55 4.44 5.37 5.33
Fixed Charge Coverage, Industry
Health Care 5.40 6.50 6.19 7.15 7.48

Based on: 10-K (filing date: 2021-02-10), 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).

1 2020 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 1,228,000 ÷ 21,000 = 58.48

2 Click competitor name to see calculations.