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, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Debt Ratios
Debt to equity 0.00 0.00 0.00 0.00 0.00
Debt to equity (including operating lease liability) 0.01 0.00 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 0.00 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 0.00 0.00 0.00 0.00
Financial leverage 1.18 1.17 1.22 1.12 1.14
Coverage Ratios
Interest coverage
Fixed charge coverage 79.65

Based on: 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), 10-K (filing date: 2016-02-02).

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.
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.
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.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Intuitive Surgical Inc.’s financial leverage ratio decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges.

Debt to Equity

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

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Total debt —  —  —  —  — 
Total Intuitive Surgical, Inc. stockholders’ equity 8,263,800  6,678,800  4,725,200  5,777,800  4,319,500 
Solvency Ratio
Debt to equity1 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Equity, Competitors2
Becton, Dickinson & Co. 0.92 1.02 1.46 1.51 1.79
Boston Scientific Corp. 0.72 0.81 0.80 0.81 0.90
Danaher Corp. 0.72 0.35 0.40 0.53 0.54
Edwards Lifesciences Corp. 0.14 0.19 0.35 0.31 0.24
Medtronic PLC 0.51 0.51 0.66 0.60 0.68
Stryker Corp. 0.87 0.84 0.72 0.72 0.47
Thermo Fisher Scientific Inc. 0.60 0.69 0.83 0.77 0.59
UnitedHealth Group Inc. 0.71 0.71 0.66 0.86 0.95
Debt to Equity, Sector
Health Care Equipment & Services 0.64 0.62 0.69 0.71 0.73
Debt to Equity, Industry
Health Care 0.90 0.82 0.83 0.78 0.71

Based on: 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), 10-K (filing date: 2016-02-02).

1 2019 Calculation
Debt to equity = Total debt ÷ Total Intuitive Surgical, Inc. stockholders’ equity
= 0 ÷ 8,263,800 = 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, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Total debt —  —  —  —  — 
Current operating lease liability (reported as Other accrued liabilities) 7,700  —  —  —  — 
Long-term operating lease liability (reported as Other long-term liabilities) 68,700  —  —  —  — 
Total debt (including operating lease liability) 76,400  —  —  —  — 
 
Total Intuitive Surgical, Inc. stockholders’ equity 8,263,800  6,678,800  4,725,200  5,777,800  4,319,500 
Solvency Ratio
Debt to equity (including operating lease liability)1 0.01 0.00 0.00 0.00 0.00
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Boston Scientific Corp. 0.75 0.81 0.80 0.81 0.90
Danaher Corp. 0.74 0.35 0.40 0.53 0.54
Edwards Lifesciences Corp. 0.16 0.19 0.35 0.31 0.24
Medtronic PLC 0.51 0.51 0.66 0.60 0.68
Stryker Corp. 0.90 0.84 0.72 0.72 0.47
Thermo Fisher Scientific Inc. 0.62 0.69 0.83 0.77 0.59
UnitedHealth Group Inc. 0.77 0.71 0.66 0.86 0.95
Debt to Equity (including Operating Lease Liability), Sector
Health Care Equipment & Services 0.67 0.62 0.69 0.71 0.73
Debt to Equity (including Operating Lease Liability), Industry
Health Care 0.92 0.82 0.83 0.78 0.71

Based on: 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), 10-K (filing date: 2016-02-02).

1 2019 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Intuitive Surgical, Inc. stockholders’ equity
= 76,400 ÷ 8,263,800 = 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.

Debt to Capital

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

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Total debt —  —  —  —  — 
Total Intuitive Surgical, Inc. stockholders’ equity 8,263,800  6,678,800  4,725,200  5,777,800  4,319,500 
Total capital 8,263,800  6,678,800  4,725,200  5,777,800  4,319,500 
Solvency Ratio
Debt to capital1 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Capital, Competitors2
Becton, Dickinson & Co. 0.48 0.51 0.59 0.60 0.64
Boston Scientific Corp. 0.42 0.45 0.44 0.45 0.47
Danaher Corp. 0.42 0.26 0.29 0.35 0.35
Edwards Lifesciences Corp. 0.13 0.16 0.26 0.24 0.19
Medtronic PLC 0.34 0.34 0.40 0.38 0.40
Stryker Corp. 0.46 0.46 0.42 0.42 0.32
Thermo Fisher Scientific Inc. 0.37 0.41 0.45 0.44 0.37
UnitedHealth Group Inc. 0.41 0.41 0.40 0.46 0.49
Debt to Capital, Sector
Health Care Equipment & Services 0.39 0.38 0.41 0.41 0.42
Debt to Capital, Industry
Health Care 0.47 0.45 0.45 0.44 0.41

Based on: 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), 10-K (filing date: 2016-02-02).

1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= 0 ÷ 8,263,800 = 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, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Total debt —  —  —  —  — 
Current operating lease liability (reported as Other accrued liabilities) 7,700  —  —  —  — 
Long-term operating lease liability (reported as Other long-term liabilities) 68,700  —  —  —  — 
Total debt (including operating lease liability) 76,400  —  —  —  — 
Total Intuitive Surgical, Inc. stockholders’ equity 8,263,800  6,678,800  4,725,200  5,777,800  4,319,500 
Total capital (including operating lease liability) 8,340,200  6,678,800  4,725,200  5,777,800  4,319,500 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.01 0.00 0.00 0.00 0.00
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Boston Scientific Corp. 0.43 0.45 0.44 0.45 0.47
Danaher Corp. 0.43 0.26 0.29 0.35 0.35
Edwards Lifesciences Corp. 0.14 0.16 0.26 0.24 0.19
Medtronic PLC 0.34 0.34 0.40 0.38 0.40
Stryker Corp. 0.47 0.46 0.42 0.42 0.32
Thermo Fisher Scientific Inc. 0.38 0.41 0.45 0.44 0.37
UnitedHealth Group Inc. 0.44 0.41 0.40 0.46 0.49
Debt to Capital (including Operating Lease Liability), Sector
Health Care Equipment & Services 0.40 0.38 0.41 0.41 0.42
Debt to Capital (including Operating Lease Liability), Industry
Health Care 0.48 0.45 0.45 0.44 0.41

Based on: 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), 10-K (filing date: 2016-02-02).

1 2019 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 76,400 ÷ 8,340,200 = 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.

Debt to Assets

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

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Total debt —  —  —  —  — 
Total assets 9,733,200  7,846,700  5,758,000  6,486,900  4,907,300 
Solvency Ratio
Debt to assets1 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Assets, Competitors2
Becton, Dickinson & Co. 0.37 0.40 0.50 0.45 0.48
Boston Scientific Corp. 0.33 0.34 0.29 0.30 0.31
Danaher Corp. 0.35 0.20 0.23 0.27 0.27
Edwards Lifesciences Corp. 0.09 0.11 0.18 0.18 0.15
Medtronic PLC 0.28 0.28 0.34 0.31 0.34
Stryker Corp. 0.37 0.36 0.33 0.34 0.25
Thermo Fisher Scientific Inc. 0.30 0.34 0.37 0.36 0.31
UnitedHealth Group Inc. 0.23 0.24 0.23 0.27 0.29
Debt to Assets, Sector
Health Care Equipment & Services 0.29 0.28 0.30 0.30 0.31
Debt to Assets, Industry
Health Care 0.33 0.31 0.31 0.31 0.29

Based on: 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), 10-K (filing date: 2016-02-02).

1 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= 0 ÷ 9,733,200 = 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, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Total debt —  —  —  —  — 
Current operating lease liability (reported as Other accrued liabilities) 7,700  —  —  —  — 
Long-term operating lease liability (reported as Other long-term liabilities) 68,700  —  —  —  — 
Total debt (including operating lease liability) 76,400  —  —  —  — 
 
Total assets 9,733,200  7,846,700  5,758,000  6,486,900  4,907,300 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.01 0.00 0.00 0.00 0.00
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Boston Scientific Corp. 0.34 0.34 0.29 0.30 0.31
Danaher Corp. 0.36 0.20 0.23 0.27 0.27
Edwards Lifesciences Corp. 0.10 0.11 0.18 0.18 0.15
Medtronic PLC 0.28 0.28 0.34 0.31 0.34
Stryker Corp. 0.38 0.36 0.33 0.34 0.25
Thermo Fisher Scientific Inc. 0.32 0.34 0.37 0.36 0.31
UnitedHealth Group Inc. 0.26 0.24 0.23 0.27 0.29
Debt to Assets (including Operating Lease Liability), Sector
Health Care Equipment & Services 0.30 0.28 0.30 0.30 0.31
Debt to Assets (including Operating Lease Liability), Industry
Health Care 0.34 0.31 0.31 0.31 0.29

Based on: 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), 10-K (filing date: 2016-02-02).

1 2019 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 76,400 ÷ 9,733,200 = 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.

Financial Leverage

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

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Total assets 9,733,200  7,846,700  5,758,000  6,486,900  4,907,300 
Total Intuitive Surgical, Inc. stockholders’ equity 8,263,800  6,678,800  4,725,200  5,777,800  4,319,500 
Solvency Ratio
Financial leverage1 1.18 1.17 1.22 1.12 1.14
Benchmarks
Financial Leverage, Competitors2
Becton, Dickinson & Co. 2.46 2.57 2.91 3.35 3.74
Boston Scientific Corp. 2.20 2.41 2.72 2.69 2.87
Danaher Corp. 2.05 1.70 1.77 1.97 2.04
Edwards Lifesciences Corp. 1.56 1.70 1.93 1.72 1.62
Medtronic PLC 1.79 1.80 1.98 1.92 2.00
Stryker Corp. 2.36 2.32 2.23 2.14 1.91
Thermo Fisher Scientific Inc. 1.97 2.04 2.23 2.13 1.92
UnitedHealth Group Inc. 3.02 2.94 2.91 3.21 3.29
Financial Leverage, Sector
Health Care Equipment & Services 2.25 2.21 2.31 2.33 2.34
Financial Leverage, Industry
Health Care 2.75 2.66 2.64 2.52 2.41

Based on: 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), 10-K (filing date: 2016-02-02).

1 2019 Calculation
Financial leverage = Total assets ÷ Total Intuitive Surgical, Inc. stockholders’ equity
= 9,733,200 ÷ 8,263,800 = 1.18

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 decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.

Interest Coverage

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

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Net income attributable to Intuitive Surgical, Inc. 1,379,300  1,127,900  660,000  735,900  588,800 
Add: Net income attributable to noncontrolling interest 2,500  (2,900) —  —  — 
Add: Income tax expense 120,400  154,500  436,500  244,900  169,700 
Add: Interest expense —  —  —  —  — 
Earnings before interest and tax (EBIT) 1,502,200  1,279,500  1,096,500  980,800  758,500 
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Becton, Dickinson & Co. 2.84 2.66 2.87 3.77 2.99
Boston Scientific Corp. 2.45 6.90 5.07 1.76 -1.29
Danaher Corp. 31.44 21.92 19.06 15.16 21.42
Edwards Lifesciences Corp. 57.35 26.46 45.61 39.43 37.19
Medtronic PLC 4.60 5.95 5.21 4.13 6.23
Stryker Corp. 9.93 9.92 9.35 9.43 17.06
Thermo Fisher Scientific Inc. 7.02 5.89 5.10 5.31 5.67
UnitedHealth Group Inc. 11.55 12.39 12.82 12.12 13.95
Interest Coverage, Sector
Health Care Equipment & Services 8.03 8.63 8.42 7.47 8.88
Interest Coverage, Industry
Health Care 10.32 10.02 10.37 10.96 13.39

Based on: 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), 10-K (filing date: 2016-02-02).

1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
= 1,502,200 ÷ 0 =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments.

Fixed Charge Coverage

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

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Net income attributable to Intuitive Surgical, Inc. 1,379,300  1,127,900  660,000  735,900  588,800 
Add: Net income attributable to noncontrolling interest 2,500  (2,900) —  —  — 
Add: Income tax expense 120,400  154,500  436,500  244,900  169,700 
Add: Interest expense —  —  —  —  — 
Earnings before interest and tax (EBIT) 1,502,200  1,279,500  1,096,500  980,800  758,500 
Add: Operating lease expense 19,100  —  —  —  — 
Earnings before fixed charges and tax 1,521,300  1,279,500  1,096,500  980,800  758,500 
 
Interest expense —  —  —  —  — 
Operating lease expense 19,100  —  —  —  — 
Fixed charges 19,100  —  —  —  — 
Solvency Ratio
Fixed charge coverage1 79.65
Benchmarks
Fixed Charge Coverage, Competitors2
Becton, Dickinson & Co. 1.99 1.92 2.18 3.15 2.61
Boston Scientific Corp. 2.24 5.27 3.94 1.57 -0.81
Danaher Corp. 8.38 8.49 8.14 7.46 8.84
Edwards Lifesciences Corp. 25.00 14.38 21.49 18.53 16.68
Medtronic PLC 3.97 4.87 4.32 3.62 5.05
Stryker Corp. 7.10 6.86 6.55 6.65 9.30
Thermo Fisher Scientific Inc. 5.60 4.72 4.07 4.11 4.25
UnitedHealth Group Inc. 7.65 8.41 8.40 8.08 8.61
Fixed Charge Coverage, Sector
Health Care Equipment & Services 5.78 6.16 6.05 5.61 6.17
Fixed Charge Coverage, Industry
Health Care 7.94 7.90 8.16 8.63 10.02

Based on: 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), 10-K (filing date: 2016-02-02).

1 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 1,521,300 ÷ 19,100 = 79.65

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges.