Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.
Solvency Ratios (Summary)
Intuitive Surgical Inc., solvency ratios
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
| 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
| 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
| 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
| 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
| 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
| 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
| 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
| 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
| 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.