Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Intuitive Surgical Inc., solvency ratios
Based on: 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).
| 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. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
| 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. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
| 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. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Intuitive Surgical Inc. financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021. |
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Intuitive Surgical Inc. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Debt to Equity
Intuitive Surgical Inc., debt to equity calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total debt | —) | —) | —) | —) | —) | |
| Total Intuitive Surgical, Inc. stockholders’ equity | 11,901,100) | 9,731,500) | 8,263,800) | 6,678,800) | 4,725,200) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Abbott Laboratories | 0.50 | 0.57 | 0.58 | 0.64 | 0.90 | |
| Abiomed Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 | |
| Bristol-Myers Squibb Co. | 1.24 | 1.34 | 0.91 | 0.52 | 0.68 | |
| Cigna Corp. | 0.71 | 0.65 | 0.83 | 1.04 | 0.40 | |
| CVS Health Corp. | 0.75 | 0.93 | 1.07 | 1.26 | 0.72 | |
| Danaher Corp. | 0.49 | 0.53 | 0.72 | 0.35 | 0.40 | |
| Elevance Health Inc. | 0.64 | 0.60 | 0.63 | 0.67 | 0.75 | |
| Humana Inc. | 0.80 | 0.51 | 0.49 | 0.61 | 0.51 | |
| Medtronic PLC | 0.51 | 0.49 | 0.51 | 0.51 | 0.66 | |
| UnitedHealth Group Inc. | 0.64 | 0.66 | 0.71 | 0.71 | 0.66 | |
| Debt to Equity, Sector | ||||||
| Health Care Equipment & Services | 0.66 | 0.70 | 0.74 | 0.75 | 0.65 | |
| Debt to Equity, Industry | ||||||
| Health Care | 0.78 | 0.89 | 0.90 | 0.86 | 0.79 | |
Based on: 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).
1 2021 Calculation
Debt to equity = Total debt ÷ Total Intuitive Surgical, Inc. stockholders’ equity
= 0 ÷ 11,901,100 = 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
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total debt | —) | —) | —) | —) | —) | |
| Current operating lease liability (reported as Other accrued liabilities) | 20,400) | 21,900) | 7,700) | —) | —) | |
| Long-term operating lease liability (reported as Other long-term liabilities) | 66,600) | 58,000) | 68,700) | —) | —) | |
| Total debt (including operating lease liability) | 87,000) | 79,900) | 76,400) | —) | —) | |
| Total Intuitive Surgical, Inc. stockholders’ equity | 11,901,100) | 9,731,500) | 8,263,800) | 6,678,800) | 4,725,200) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Abbott Laboratories | 0.54 | 0.61 | 0.61 | 0.64 | 0.90 | |
| Abiomed Inc. | 0.00 | 0.01 | 0.00 | 0.00 | 0.04 | |
| Bristol-Myers Squibb Co. | 1.27 | 1.37 | 0.92 | 0.52 | 0.68 | |
| Cigna Corp. | 0.73 | 0.67 | 0.84 | 1.04 | 0.40 | |
| CVS Health Corp. | 1.01 | 1.23 | 1.39 | 1.26 | 0.72 | |
| Danaher Corp. | 0.52 | 0.56 | 0.74 | 0.35 | 0.40 | |
| Elevance Health Inc. | 0.67 | 0.63 | 0.65 | 0.67 | 0.75 | |
| Humana Inc. | 0.84 | 0.54 | 0.53 | 0.61 | 0.51 | |
| Medtronic PLC | 0.53 | 0.51 | 0.51 | 0.51 | 0.66 | |
| UnitedHealth Group Inc. | 0.70 | 0.73 | 0.77 | 0.71 | 0.66 | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Health Care Equipment & Services | 0.73 | 0.78 | 0.82 | 0.75 | 0.65 | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.83 | 0.95 | 0.96 | 0.86 | 0.79 | |
Based on: 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).
1 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Intuitive Surgical, Inc. stockholders’ equity
= 87,000 ÷ 11,901,100 = 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. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
Debt to Capital
Intuitive Surgical Inc., debt to capital calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total debt | —) | —) | —) | —) | —) | |
| Total Intuitive Surgical, Inc. stockholders’ equity | 11,901,100) | 9,731,500) | 8,263,800) | 6,678,800) | 4,725,200) | |
| Total capital | 11,901,100) | 9,731,500) | 8,263,800) | 6,678,800) | 4,725,200) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Abbott Laboratories | 0.34 | 0.36 | 0.37 | 0.39 | 0.47 | |
| Abiomed Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | |
| Bristol-Myers Squibb Co. | 0.55 | 0.57 | 0.48 | 0.34 | 0.40 | |
| Cigna Corp. | 0.42 | 0.40 | 0.45 | 0.51 | 0.28 | |
| CVS Health Corp. | 0.43 | 0.48 | 0.52 | 0.56 | 0.42 | |
| Danaher Corp. | 0.33 | 0.35 | 0.42 | 0.26 | 0.29 | |
| Elevance Health Inc. | 0.39 | 0.38 | 0.39 | 0.40 | 0.43 | |
| Humana Inc. | 0.44 | 0.34 | 0.33 | 0.38 | 0.34 | |
| Medtronic PLC | 0.34 | 0.33 | 0.34 | 0.34 | 0.40 | |
| UnitedHealth Group Inc. | 0.39 | 0.40 | 0.41 | 0.41 | 0.40 | |
| Debt to Capital, Sector | ||||||
| Health Care Equipment & Services | 0.40 | 0.41 | 0.43 | 0.43 | 0.39 | |
| Debt to Capital, Industry | ||||||
| Health Care | 0.44 | 0.47 | 0.47 | 0.46 | 0.44 | |
Based on: 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).
1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 0 ÷ 11,901,100 = 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
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total debt | —) | —) | —) | —) | —) | |
| Current operating lease liability (reported as Other accrued liabilities) | 20,400) | 21,900) | 7,700) | —) | —) | |
| Long-term operating lease liability (reported as Other long-term liabilities) | 66,600) | 58,000) | 68,700) | —) | —) | |
| Total debt (including operating lease liability) | 87,000) | 79,900) | 76,400) | —) | —) | |
| Total Intuitive Surgical, Inc. stockholders’ equity | 11,901,100) | 9,731,500) | 8,263,800) | 6,678,800) | 4,725,200) | |
| Total capital (including operating lease liability) | 11,988,100) | 9,811,400) | 8,340,200) | 6,678,800) | 4,725,200) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Abbott Laboratories | 0.35 | 0.38 | 0.38 | 0.39 | 0.47 | |
| Abiomed Inc. | 0.00 | 0.01 | 0.00 | 0.00 | 0.03 | |
| Bristol-Myers Squibb Co. | 0.56 | 0.58 | 0.48 | 0.34 | 0.40 | |
| Cigna Corp. | 0.42 | 0.40 | 0.46 | 0.51 | 0.28 | |
| CVS Health Corp. | 0.50 | 0.55 | 0.58 | 0.56 | 0.42 | |
| Danaher Corp. | 0.34 | 0.36 | 0.43 | 0.26 | 0.29 | |
| Elevance Health Inc. | 0.40 | 0.39 | 0.40 | 0.40 | 0.43 | |
| Humana Inc. | 0.46 | 0.35 | 0.34 | 0.38 | 0.34 | |
| Medtronic PLC | 0.35 | 0.34 | 0.34 | 0.34 | 0.40 | |
| UnitedHealth Group Inc. | 0.41 | 0.42 | 0.44 | 0.41 | 0.40 | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Health Care Equipment & Services | 0.42 | 0.44 | 0.45 | 0.43 | 0.39 | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.45 | 0.49 | 0.49 | 0.46 | 0.44 | |
Based on: 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).
1 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 87,000 ÷ 11,988,100 = 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. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
Debt to Assets
Intuitive Surgical Inc., debt to assets calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total debt | —) | —) | —) | —) | —) | |
| Total assets | 13,555,000) | 11,168,900) | 9,733,200) | 7,846,700) | 5,758,000) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Abbott Laboratories | 0.24 | 0.26 | 0.27 | 0.29 | 0.37 | |
| Abiomed Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | |
| Bristol-Myers Squibb Co. | 0.41 | 0.43 | 0.36 | 0.21 | 0.24 | |
| Cigna Corp. | 0.22 | 0.21 | 0.24 | 0.28 | 0.09 | |
| CVS Health Corp. | 0.24 | 0.28 | 0.31 | 0.37 | 0.28 | |
| Danaher Corp. | 0.27 | 0.28 | 0.35 | 0.20 | 0.23 | |
| Elevance Health Inc. | 0.24 | 0.23 | 0.26 | 0.27 | 0.28 | |
| Humana Inc. | 0.29 | 0.20 | 0.20 | 0.25 | 0.19 | |
| Medtronic PLC | 0.28 | 0.27 | 0.28 | 0.28 | 0.34 | |
| UnitedHealth Group Inc. | 0.22 | 0.22 | 0.23 | 0.24 | 0.23 | |
| Debt to Assets, Sector | ||||||
| Health Care Equipment & Services | 0.25 | 0.26 | 0.28 | 0.28 | 0.26 | |
| Debt to Assets, Industry | ||||||
| Health Care | 0.28 | 0.30 | 0.31 | 0.30 | 0.29 | |
Based on: 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).
1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 0 ÷ 13,555,000 = 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
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total debt | —) | —) | —) | —) | —) | |
| Current operating lease liability (reported as Other accrued liabilities) | 20,400) | 21,900) | 7,700) | —) | —) | |
| Long-term operating lease liability (reported as Other long-term liabilities) | 66,600) | 58,000) | 68,700) | —) | —) | |
| Total debt (including operating lease liability) | 87,000) | 79,900) | 76,400) | —) | —) | |
| Total assets | 13,555,000) | 11,168,900) | 9,733,200) | 7,846,700) | 5,758,000) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Abbott Laboratories | 0.26 | 0.27 | 0.28 | 0.29 | 0.37 | |
| Abiomed Inc. | 0.00 | 0.01 | 0.00 | 0.00 | 0.03 | |
| Bristol-Myers Squibb Co. | 0.42 | 0.44 | 0.37 | 0.21 | 0.24 | |
| Cigna Corp. | 0.22 | 0.22 | 0.24 | 0.28 | 0.09 | |
| CVS Health Corp. | 0.33 | 0.37 | 0.40 | 0.37 | 0.28 | |
| Danaher Corp. | 0.28 | 0.29 | 0.36 | 0.20 | 0.23 | |
| Elevance Health Inc. | 0.25 | 0.24 | 0.27 | 0.27 | 0.28 | |
| Humana Inc. | 0.31 | 0.21 | 0.22 | 0.25 | 0.19 | |
| Medtronic PLC | 0.29 | 0.28 | 0.28 | 0.28 | 0.34 | |
| UnitedHealth Group Inc. | 0.24 | 0.24 | 0.26 | 0.24 | 0.23 | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Health Care Equipment & Services | 0.28 | 0.29 | 0.31 | 0.28 | 0.26 | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.30 | 0.32 | 0.33 | 0.30 | 0.29 | |
Based on: 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).
1 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 87,000 ÷ 13,555,000 = 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. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
Financial Leverage
Intuitive Surgical Inc., financial leverage calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total assets | 13,555,000) | 11,168,900) | 9,733,200) | 7,846,700) | 5,758,000) | |
| Total Intuitive Surgical, Inc. stockholders’ equity | 11,901,100) | 9,731,500) | 8,263,800) | 6,678,800) | 4,725,200) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 1.14 | 1.15 | 1.18 | 1.17 | 1.22 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Abbott Laboratories | 2.10 | 2.21 | 2.18 | 2.20 | 2.47 | |
| Abiomed Inc. | 1.12 | 1.14 | 1.13 | 1.14 | 1.22 | |
| Bristol-Myers Squibb Co. | 3.04 | 3.13 | 2.52 | 2.49 | 2.86 | |
| Cigna Corp. | 3.29 | 3.09 | 3.44 | 3.73 | 4.50 | |
| CVS Health Corp. | 3.10 | 3.32 | 3.48 | 3.37 | 2.52 | |
| Danaher Corp. | 1.84 | 1.92 | 2.05 | 1.70 | 1.77 | |
| Elevance Health Inc. | 2.70 | 2.61 | 2.44 | 2.51 | 2.66 | |
| Humana Inc. | 2.76 | 2.55 | 2.42 | 2.50 | 2.76 | |
| Medtronic PLC | 1.81 | 1.79 | 1.79 | 1.80 | 1.98 | |
| UnitedHealth Group Inc. | 2.96 | 3.01 | 3.02 | 2.94 | 2.91 | |
| Financial Leverage, Sector | ||||||
| Health Care Equipment & Services | 2.61 | 2.66 | 2.66 | 2.65 | 2.52 | |
| Financial Leverage, Industry | ||||||
| Health Care | 2.76 | 2.94 | 2.90 | 2.83 | 2.68 | |
Based on: 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).
1 2021 Calculation
Financial leverage = Total assets ÷ Total Intuitive Surgical, Inc. stockholders’ equity
= 13,555,000 ÷ 11,901,100 = 1.14
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. financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021. |
Interest Coverage
Intuitive Surgical Inc., interest coverage calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income attributable to Intuitive Surgical, Inc. | 1,704,600) | 1,060,600) | 1,379,300) | 1,127,900) | 660,000) | |
| Add: Net income attributable to noncontrolling interest | 23,500) | 6,200) | 2,500) | (2,900) | —) | |
| Add: Income tax expense | 162,200) | 140,200) | 120,400) | 154,500) | 436,500) | |
| Add: Interest expense | —) | —) | —) | —) | —) | |
| Earnings before interest and tax (EBIT) | 1,890,300) | 1,207,000) | 1,502,200) | 1,279,500) | 1,096,500) | |
| Solvency Ratio | ||||||
| Interest coverage1 | — | — | — | — | — | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Abbott Laboratories | 16.41 | 10.10 | 7.09 | 4.48 | 3.47 | |
| Abiomed Inc. | — | — | — | 532.25 | 259.03 | |
| Bristol-Myers Squibb Co. | 7.07 | -3.84 | 8.58 | 33.61 | 27.18 | |
| Cigna Corp. | 6.22 | 8.76 | 5.11 | 8.06 | 15.84 | |
| CVS Health Corp. | 5.16 | 4.36 | 3.96 | 1.54 | 8.79 | |
| Danaher Corp. | 32.92 | 17.35 | 31.44 | 21.92 | 19.06 | |
| Elevance Health Inc. | 10.93 | 8.96 | 9.02 | 7.73 | 6.36 | |
| Humana Inc. | 11.49 | 17.52 | 15.34 | 10.51 | 17.61 | |
| Medtronic PLC | 5.21 | 4.71 | 4.60 | 5.95 | 5.21 | |
| UnitedHealth Group Inc. | 14.44 | 13.47 | 11.55 | 12.39 | 12.82 | |
| Interest Coverage, Sector | ||||||
| Health Care Equipment & Services | 9.41 | 6.82 | 7.11 | 7.06 | 9.57 | |
| Interest Coverage, Industry | ||||||
| Health Care | 12.80 | 7.88 | 9.16 | 8.78 | 10.60 | |
Based on: 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).
1 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= 1,890,300 ÷ 0 = —
2 Click competitor name to see calculations.
Fixed Charge Coverage
Intuitive Surgical Inc., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income attributable to Intuitive Surgical, Inc. | 1,704,600) | 1,060,600) | 1,379,300) | 1,127,900) | 660,000) | |
| Add: Net income attributable to noncontrolling interest | 23,500) | 6,200) | 2,500) | (2,900) | —) | |
| Add: Income tax expense | 162,200) | 140,200) | 120,400) | 154,500) | 436,500) | |
| Add: Interest expense | —) | —) | —) | —) | —) | |
| Earnings before interest and tax (EBIT) | 1,890,300) | 1,207,000) | 1,502,200) | 1,279,500) | 1,096,500) | |
| Add: Operating lease expense | 20,400) | 21,000) | 19,100) | —) | —) | |
| Earnings before fixed charges and tax | 1,910,700) | 1,228,000) | 1,521,300) | 1,279,500) | 1,096,500) | |
| Interest expense | —) | —) | —) | —) | —) | |
| Operating lease expense | 20,400) | 21,000) | 19,100) | —) | —) | |
| Fixed charges | 20,400) | 21,000) | 19,100) | —) | —) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 93.66 | 58.48 | 79.65 | — | — | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Abbott Laboratories | 10.21 | 6.68 | 5.14 | 4.48 | 3.47 | |
| Abiomed Inc. | 70.89 | 71.21 | — | 532.25 | 259.03 | |
| Bristol-Myers Squibb Co. | 6.01 | -3.08 | 7.10 | 20.07 | 17.24 | |
| Cigna Corp. | 5.61 | 7.84 | 4.67 | 6.35 | 9.90 | |
| CVS Health Corp. | 3.03 | 2.75 | 2.56 | 1.27 | 3.35 | |
| Danaher Corp. | 10.85 | 7.10 | 8.38 | 8.49 | 8.14 | |
| Elevance Health Inc. | 8.48 | 6.10 | 7.34 | 6.28 | 5.20 | |
| Humana Inc. | 8.05 | 12.02 | 9.76 | 6.39 | 10.01 | |
| Medtronic PLC | 4.31 | 3.98 | 3.97 | 4.87 | 4.32 | |
| UnitedHealth Group Inc. | 8.80 | 8.51 | 7.65 | 8.41 | 8.40 | |
| Fixed Charge Coverage, Sector | ||||||
| Health Care Equipment & Services | 6.21 | 4.71 | 4.99 | 4.83 | 5.89 | |
| Fixed Charge Coverage, Industry | ||||||
| Health Care | 9.06 | 5.81 | 6.81 | 6.52 | 7.53 | |
Based on: 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).
1 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 1,910,700 ÷ 20,400 = 93.66
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. | Intuitive Surgical Inc. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |