Stock Analysis on Net
Stock Analysis on Net

Intuitive Surgical Inc. (NASDAQ:ISRG)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Microsoft Excel

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Long-term Activity Ratios (Summary)

Intuitive Surgical Inc., long-term (investment) activity ratios (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Net fixed asset turnover 2.01 2.23 2.35 2.49 2.62 2.73 2.83 3.00 3.04 3.16 3.13 2.86 2.76 2.85 3.00 3.36 3.52 — — —
Total asset turnover 0.46 0.47 0.48 0.49 0.48 0.46 0.44 0.43 0.42 0.42 0.42 0.39 0.39 0.41 0.43 0.47 0.46 — — —
Equity turnover 0.54 0.55 0.56 0.57 0.56 0.53 0.50 0.49 0.48 0.48 0.48 0.45 0.45 0.47 0.50 0.54 0.54 — — —

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Intuitive Surgical Inc. net fixed asset turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Intuitive Surgical Inc. total asset turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Intuitive Surgical Inc. equity turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Net Fixed Asset Turnover

Intuitive Surgical Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in thousands)
Revenue 1,928,300 1,743,700 1,755,900 1,696,200 1,655,000 1,557,400 1,522,100 1,487,700 1,550,700 1,403,300 1,464,000 1,292,100 1,329,100 1,077,700 852,100 1,099,500 1,277,700 1,128,200 1,098,900 973,700
Property, plant, and equipment, net 3,537,600 3,077,000 2,830,800 2,580,200 2,374,200 2,243,700 2,109,300 1,968,200 1,876,400 1,737,900 1,651,200 1,592,900 1,577,300 1,509,700 1,450,300 1,369,200 1,272,900 1,136,800 1,032,400 935,400
Long-term Activity Ratio
Net fixed asset turnover1 2.01 2.23 2.35 2.49 2.62 2.73 2.83 3.00 3.04 3.16 3.13 2.86 2.76 2.85 3.00 3.36 3.52 — — —
Benchmarks
Net Fixed Asset Turnover, Competitors2
Abbott Laboratories 3.95 4.18 4.26 4.47 4.76 5.18 5.17 5.00 4.81 4.79 4.56 4.23 3.83 3.74 3.77 4.06 3.97 — — —
Cigna Group 52.53 48.12 47.67 47.44 47.53 47.84 48.61 47.95 46.73 41.42 40.56 39.29 37.85 37.05 36.02 35.37 34.45 — — —
CVS Health Corp. 27.05 26.62 26.00 25.63 24.98 24.90 24.05 23.26 22.56 22.24 21.90 21.42 21.25 21.48 21.52 21.49 21.24 — — —
Danaher Corp. 5.25 6.87 7.27 7.61 7.96 8.40 8.12 7.94 7.77 7.71 7.84 7.59 6.83 6.68 6.35 6.03 7.78 — — —
Elevance Health Inc. 39.05 39.41 36.19 36.14 36.07 36.22 36.17 35.81 34.94 34.54 34.17 34.94 34.69 34.61 32.74 32.30 32.92 — — —
Humana Inc. 34.75 30.35 29.59 29.40 28.71 28.37 28.64 27.05 26.97 27.83 29.47 31.04 32.05 32.90 33.07 33.20 32.93 — — —
Medtronic PLC 5.61 5.66 5.82 5.88 5.85 6.05 6.13 6.12 5.77 5.56 5.64 5.72 5.99 6.52 6.50 6.51 6.54 6.65 6.70 6.62
UnitedHealth Group Inc. 32.10 32.18 31.60 31.35 31.81 33.07 32.33 32.16 31.81 31.77 30.94 30.76 29.64 30.80 30.30 29.91 27.60 — — —

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Net fixed asset turnover = (RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023 + RevenueQ1 2023) ÷ Property, plant, and equipment, net
= (1,928,300 + 1,743,700 + 1,755,900 + 1,696,200) ÷ 3,537,600 = 2.01

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Intuitive Surgical Inc. net fixed asset turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Total Asset Turnover

Intuitive Surgical Inc., total asset turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in thousands)
Revenue 1,928,300 1,743,700 1,755,900 1,696,200 1,655,000 1,557,400 1,522,100 1,487,700 1,550,700 1,403,300 1,464,000 1,292,100 1,329,100 1,077,700 852,100 1,099,500 1,277,700 1,128,200 1,098,900 973,700
Total assets 15,441,500 14,712,700 13,903,300 13,053,200 12,974,000 13,260,800 13,705,200 13,678,400 13,555,000 12,934,600 12,297,000 11,540,400 11,168,900 10,617,500 10,103,600 9,891,100 9,733,200 9,131,300 8,531,600 8,234,900
Long-term Activity Ratio
Total asset turnover1 0.46 0.47 0.48 0.49 0.48 0.46 0.44 0.43 0.42 0.42 0.42 0.39 0.39 0.41 0.43 0.47 0.46 — — —
Benchmarks
Total Asset Turnover, Competitors2
Abbott Laboratories 0.55 0.55 0.55 0.56 0.59 0.62 0.61 0.60 0.57 0.57 0.55 0.51 0.48 0.47 0.46 0.48 0.47 — — —
Cigna Group 1.27 1.26 1.23 1.23 1.25 1.24 1.17 1.15 1.11 1.09 1.07 1.06 1.02 0.97 0.96 0.99 0.98 — — —
CVS Health Corp. 1.43 1.38 1.35 1.38 1.41 1.36 1.33 1.28 1.25 1.21 1.20 1.18 1.16 1.14 1.12 1.13 1.15 — — —
Danaher Corp. 0.28 0.34 0.36 0.36 0.37 0.39 0.38 0.36 0.35 0.34 0.34 0.33 0.29 0.28 0.27 0.26 0.29 — — —
Elevance Health Inc. 1.56 1.52 1.51 1.46 1.51 1.48 1.47 1.42 1.41 1.35 1.33 1.29 1.39 1.34 1.28 1.31 1.33 — — —
Humana Inc. 2.24 1.81 1.73 1.74 2.15 1.80 1.91 1.86 1.87 1.78 2.08 2.08 2.17 1.90 1.82 1.94 2.21 — — —
Medtronic PLC 0.34 0.33 0.33 0.35 0.35 0.35 0.35 0.34 0.32 0.29 0.29 0.30 0.32 0.33 0.34 0.34 0.34 0.34 0.34 0.33
UnitedHealth Group Inc. 1.34 1.26 1.23 1.18 1.31 1.29 1.32 1.33 1.34 1.30 1.29 1.27 1.30 1.31 1.28 1.29 1.38 — — —

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Total asset turnover = (RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023 + RevenueQ1 2023) ÷ Total assets
= (1,928,300 + 1,743,700 + 1,755,900 + 1,696,200) ÷ 15,441,500 = 0.46

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Intuitive Surgical Inc. total asset turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Equity Turnover

Intuitive Surgical Inc., equity turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in thousands)
Revenue 1,928,300 1,743,700 1,755,900 1,696,200 1,655,000 1,557,400 1,522,100 1,487,700 1,550,700 1,403,300 1,464,000 1,292,100 1,329,100 1,077,700 852,100 1,099,500 1,277,700 1,128,200 1,098,900 973,700
Total Intuitive Surgical, Inc. stockholders’ equity 13,307,600 12,539,000 11,879,100 11,217,700 11,041,900 11,515,400 12,023,000 12,102,300 11,901,100 11,410,900 10,837,500 10,153,500 9,731,500 9,257,800 8,740,500 8,506,700 8,263,800 7,761,400 7,265,300 7,024,200
Long-term Activity Ratio
Equity turnover1 0.54 0.55 0.56 0.57 0.56 0.53 0.50 0.49 0.48 0.48 0.48 0.45 0.45 0.47 0.50 0.54 0.54 — — —
Benchmarks
Equity Turnover, Competitors2
Abbott Laboratories 1.04 1.07 1.08 1.12 1.19 1.26 1.25 1.26 1.20 1.23 1.19 1.11 1.06 1.03 1.03 1.06 1.03 — — —
Cigna Group 4.20 4.13 4.07 4.09 4.00 3.98 3.88 3.81 3.66 3.56 3.40 3.36 3.16 3.24 3.24 3.39 3.36 — — —
CVS Health Corp. 4.66 4.66 4.65 4.62 4.53 4.45 4.08 4.05 3.87 3.82 3.79 3.81 3.86 3.86 3.87 4.01 4.00 — — —
Danaher Corp. 0.45 0.56 0.59 0.60 0.63 0.67 0.66 0.65 0.65 0.65 0.62 0.61 0.56 0.54 0.52 0.58 0.59 — — —
Elevance Health Inc. 4.33 4.36 4.31 4.27 4.29 4.22 4.13 3.97 3.80 3.71 3.65 3.65 3.64 3.43 3.26 3.41 3.25 — — —
Humana Inc. 6.48 5.98 5.82 5.74 6.04 5.62 5.77 5.63 5.15 4.96 5.34 5.48 5.54 4.65 4.86 5.44 5.35 — — —
Medtronic PLC 0.61 0.60 0.59 0.59 0.60 0.60 0.61 0.61 0.59 0.55 0.56 0.56 0.57 0.60 0.61 0.61 0.61 0.61 0.61 0.60
UnitedHealth Group Inc. 4.14 4.22 4.19 4.10 4.14 4.19 4.18 4.06 3.98 3.95 3.92 3.94 3.90 3.85 3.87 4.29 4.17 — — —

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Equity turnover = (RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023 + RevenueQ1 2023) ÷ Total Intuitive Surgical, Inc. stockholders’ equity
= (1,928,300 + 1,743,700 + 1,755,900 + 1,696,200) ÷ 13,307,600 = 0.54

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Intuitive Surgical Inc. equity turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.