Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Intuitive Surgical Inc., short-term (operating) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 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).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Intuitive Surgical Inc. inventory turnover ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Intuitive Surgical Inc. receivables turnover ratio deteriorated from Q3 2023 to Q4 2023 but then slightly improved from Q4 2023 to Q1 2024. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Intuitive Surgical Inc. payables turnover ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Intuitive Surgical Inc. working capital turnover ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Intuitive Surgical Inc. number of days of inventory outstanding deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Intuitive Surgical Inc. number of days of receivables outstanding deteriorated from Q3 2023 to Q4 2023 but then slightly improved from Q4 2023 to Q1 2024. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Intuitive Surgical Inc. operating cycle deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | |
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Intuitive Surgical Inc. cash conversion cycle deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Inventory Turnover
Intuitive Surgical Inc., inventory turnover calculation (quarterly data)
| Mar 31, 2024 | 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) | ||||||||||||||||||||||||||||
| Cost of revenue | 645,200) | 650,900) | 576,500) | 584,000) | 583,200) | 544,100) | 505,300) | 498,800) | 478,000) | 489,900) | 431,900) | 440,300) | 389,500) | 433,300) | 353,400) | 349,200) | 361,300) | 381,700) | 342,600) | 339,900) | 304,100) | |||||||
| Inventory | 1,299,300) | 1,220,600) | 1,147,500) | 1,005,200) | 946,600) | 893,200) | 837,100) | 724,000) | 653,000) | 587,100) | 584,900) | 569,700) | 576,800) | 601,500) | 662,900) | 645,500) | 620,300) | 595,500) | 579,600) | 512,800) | 468,300) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Inventory turnover1 | 1.89 | 1.96 | 1.99 | 2.21 | 2.25 | 2.27 | 2.36 | 2.62 | 2.82 | 2.98 | 2.90 | 2.84 | 2.64 | 2.49 | 2.18 | 2.22 | 2.30 | 2.30 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | — | 2.74 | 2.71 | 2.62 | 2.77 | 3.10 | 3.37 | 3.24 | 3.36 | 3.59 | 3.47 | 3.27 | 2.99 | 2.99 | 2.71 | 2.56 | 2.92 | 3.07 | — | — | — | |||||||
| Cigna Group | — | 23.70 | 29.58 | 28.53 | 30.04 | 26.13 | 30.87 | 32.34 | 34.32 | 31.58 | 37.54 | 36.13 | 36.50 | 32.70 | 37.84 | 36.30 | 38.13 | 36.70 | — | — | — | |||||||
| CVS Health Corp. | — | 16.83 | 16.34 | 16.48 | 15.15 | 14.05 | 14.46 | 14.64 | 13.60 | 13.52 | 13.49 | 13.48 | 12.57 | 11.88 | 12.43 | 13.03 | 12.68 | 12.06 | — | — | — | |||||||
| Danaher Corp. | — | 3.80 | 4.04 | 3.90 | 3.65 | 4.03 | 3.80 | 3.71 | 3.87 | 4.16 | 4.06 | 4.28 | 4.34 | 4.28 | 3.79 | 3.26 | 3.09 | 4.87 | — | — | — | |||||||
| Medtronic PLC | 1.91 | 2.03 | 1.92 | 2.00 | 2.09 | 2.20 | 2.26 | 2.38 | 2.47 | 2.43 | 2.24 | 2.20 | 2.10 | 2.23 | 2.34 | 2.35 | 2.37 | 2.44 | 2.35 | 2.39 | 2.42 | |||||||
| Shockwave Medical Inc. | — | 0.89 | 0.90 | 0.88 | 0.88 | 0.87 | 0.87 | 0.89 | 0.87 | 0.96 | 0.91 | 0.82 | 0.69 | 0.70 | 0.70 | 0.82 | 1.24 | 1.42 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
Inventory turnover
= (Cost of revenueQ1 2024
+ Cost of revenueQ4 2023
+ Cost of revenueQ3 2023
+ Cost of revenueQ2 2023)
÷ Inventory
= (645,200 + 650,900 + 576,500 + 584,000)
÷ 1,299,300 = 1.89
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Intuitive Surgical Inc. inventory turnover ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Receivables Turnover
Intuitive Surgical Inc., receivables turnover calculation (quarterly data)
| Mar 31, 2024 | 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 | 1,890,600) | 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) | |||||||
| Accounts receivable, net | 1,127,900) | 1,130,200) | 962,700) | 904,200) | 925,300) | 942,100) | 849,600) | 838,500) | 906,100) | 782,700) | 695,000) | 699,900) | 654,300) | 645,500) | 588,600) | 508,800) | 527,600) | 645,200) | 639,000) | 633,400) | 547,600) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Receivables turnover1 | 6.49 | 6.30 | 7.12 | 7.37 | 6.95 | 6.60 | 7.20 | 7.11 | 6.52 | 7.30 | 7.90 | 7.38 | 6.96 | 6.75 | 7.32 | 8.56 | 8.73 | 6.94 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | — | 6.11 | 6.15 | 6.52 | 6.89 | 7.02 | 7.03 | 6.33 | 6.20 | 6.64 | 6.61 | 6.58 | 6.13 | 5.40 | 5.70 | 6.12 | 6.06 | 5.88 | — | — | — | |||||||
| CVS Health Corp. | — | 10.12 | 10.53 | 11.44 | 11.65 | 11.79 | 11.94 | 11.27 | 11.30 | 11.91 | 11.23 | 11.48 | 11.32 | 12.32 | 11.14 | 11.68 | 11.33 | 13.04 | — | — | — | |||||||
| Danaher Corp. | — | 6.09 | 7.04 | 7.23 | 7.18 | 6.40 | 7.09 | 6.81 | 6.87 | 6.36 | 6.69 | 6.51 | 6.28 | 5.51 | 5.83 | 5.59 | 5.25 | 5.61 | — | — | — | |||||||
| Elevance Health Inc. | 15.98 | 18.08 | 17.93 | 18.82 | 16.53 | 18.81 | 19.51 | 18.80 | 16.67 | 20.66 | 18.93 | 18.81 | 17.39 | 19.72 | 18.91 | 18.04 | 16.74 | 18.20 | — | — | — | |||||||
| Humana Inc. | — | 51.75 | 55.60 | 68.53 | 30.60 | 55.25 | 56.74 | 26.54 | 27.18 | 45.69 | 42.91 | 32.51 | 35.43 | 66.78 | 64.58 | 31.30 | 33.43 | 60.97 | — | — | — | |||||||
| Medtronic PLC | 5.44 | 5.21 | 5.23 | 5.48 | 5.85 | 5.71 | 5.84 | 5.79 | 5.82 | 5.51 | 5.35 | 5.21 | 5.73 | 6.22 | 4.97 | 5.05 | 5.20 | 4.91 | 5.22 | 5.29 | 5.28 | |||||||
| Shockwave Medical Inc. | — | 6.37 | 6.79 | 6.39 | 6.61 | 6.86 | 6.69 | 6.08 | 6.25 | 6.33 | 5.86 | 5.21 | 4.31 | 5.80 | 5.54 | 8.03 | 6.51 | 5.82 | — | — | — | |||||||
| UnitedHealth Group Inc. | — | 17.27 | 17.23 | 19.23 | 14.88 | 18.22 | 18.37 | 16.27 | 15.65 | 20.07 | 19.60 | 18.53 | 16.35 | 19.86 | 20.63 | 19.62 | 16.73 | 20.32 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
Receivables turnover
= (RevenueQ1 2024
+ RevenueQ4 2023
+ RevenueQ3 2023
+ RevenueQ2 2023)
÷ Accounts receivable, net
= (1,890,600 + 1,928,300 + 1,743,700 + 1,755,900)
÷ 1,127,900 = 6.49
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Intuitive Surgical Inc. receivables turnover ratio deteriorated from Q3 2023 to Q4 2023 but then slightly improved from Q4 2023 to Q1 2024. |
Payables Turnover
Intuitive Surgical Inc., payables turnover calculation (quarterly data)
| Mar 31, 2024 | 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) | ||||||||||||||||||||||||||||
| Cost of revenue | 645,200) | 650,900) | 576,500) | 584,000) | 583,200) | 544,100) | 505,300) | 498,800) | 478,000) | 489,900) | 431,900) | 440,300) | 389,500) | 433,300) | 353,400) | 349,200) | 361,300) | 381,700) | 342,600) | 339,900) | 304,100) | |||||||
| Accounts payable | 194,400) | 188,700) | 196,200) | 199,700) | 164,100) | 147,000) | 164,200) | 149,700) | 128,100) | 121,200) | 120,000) | 117,900) | 103,100) | 81,600) | 116,000) | 108,900) | 133,400) | 123,500) | 132,400) | 129,600) | 130,600) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Payables turnover1 | 12.64 | 12.69 | 11.66 | 11.10 | 12.99 | 13.78 | 12.01 | 12.68 | 14.36 | 14.45 | 14.13 | 13.71 | 14.80 | 18.35 | 12.46 | 13.18 | 10.69 | 11.08 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | — | 4.19 | 4.55 | 4.28 | 4.44 | 4.15 | 4.67 | 4.25 | 4.02 | 4.21 | 4.55 | 4.43 | 3.97 | 3.80 | 4.37 | 4.00 | 4.20 | 4.07 | — | — | — | |||||||
| Cigna Group | — | 6.75 | 6.76 | 6.92 | 7.18 | 7.31 | 7.44 | 7.44 | 7.89 | 7.68 | 7.71 | 7.60 | 7.74 | 7.75 | 8.02 | 8.30 | 9.06 | 9.34 | — | — | — | |||||||
| CVS Health Corp. | — | 20.36 | 19.73 | 21.32 | 22.08 | 18.07 | 18.75 | 19.22 | 19.38 | 19.14 | 18.49 | 20.72 | 20.50 | 19.72 | 18.61 | 21.70 | 21.06 | 20.13 | — | — | — | |||||||
| Danaher Corp. | — | 5.58 | 6.45 | 6.35 | 5.93 | 5.45 | 5.61 | 5.00 | 5.04 | 4.48 | 5.20 | 5.54 | 5.29 | 4.79 | 5.46 | 5.28 | 4.55 | 5.23 | — | — | — | |||||||
| Elevance Health Inc. | 7.54 | 7.72 | 7.61 | 7.54 | 7.57 | 7.47 | 7.48 | 7.35 | 7.28 | 7.59 | 7.31 | 7.30 | 7.31 | 7.75 | 8.32 | 8.42 | 8.48 | 9.25 | — | — | — | |||||||
| Humana Inc. | — | 8.63 | 8.26 | 7.84 | 7.78 | 8.17 | 8.07 | 7.61 | 7.63 | 8.35 | 7.76 | 7.81 | 7.32 | 7.57 | 7.20 | 7.12 | 7.90 | 8.97 | — | — | — | |||||||
| Medtronic PLC | 4.84 | 4.03 | 4.68 | 4.60 | 4.62 | 4.46 | 5.14 | 5.41 | 5.67 | 4.98 | 5.56 | 5.19 | 5.56 | 4.72 | 4.96 | 4.84 | 4.89 | 4.69 | 5.31 | 5.16 | 4.98 | |||||||
| Shockwave Medical Inc. | — | 10.76 | 12.75 | 6.29 | 6.62 | 9.67 | 17.34 | 10.11 | 5.48 | 11.77 | 9.70 | 11.23 | 6.23 | 14.32 | 10.18 | 7.49 | 9.18 | 6.15 | — | — | — | |||||||
| UnitedHealth Group Inc. | — | 7.47 | 7.11 | 7.08 | 6.86 | 7.26 | 7.07 | 6.90 | 6.78 | 7.63 | 6.98 | 6.97 | 6.58 | 7.29 | 7.40 | 8.02 | 6.96 | 7.21 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
Payables turnover
= (Cost of revenueQ1 2024
+ Cost of revenueQ4 2023
+ Cost of revenueQ3 2023
+ Cost of revenueQ2 2023)
÷ Accounts payable
= (645,200 + 650,900 + 576,500 + 584,000)
÷ 194,400 = 12.64
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Intuitive Surgical Inc. payables turnover ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024. |
Working Capital Turnover
Intuitive Surgical Inc., working capital turnover calculation (quarterly data)
| Mar 31, 2024 | 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) | ||||||||||||||||||||||||||||
| Current assets | 7,632,700) | 7,888,000) | 8,902,900) | 8,031,800) | 6,877,000) | 6,253,000) | 6,293,100) | 6,292,500) | 5,803,200) | 5,844,900) | 5,728,000) | 6,016,600) | 6,066,400) | 6,625,900) | 6,300,300) | 5,899,000) | 4,691,500) | 4,662,600) | 4,317,000) | 4,071,600) | 4,025,000) | |||||||
| Less: Current liabilities | 1,375,100) | 1,658,700) | 1,676,400) | 1,538,400) | 1,307,400) | 1,422,100) | 1,233,400) | 1,175,000) | 1,112,200) | 1,149,800) | 1,027,300) | 1,004,600) | 904,600) | 965,200) | 894,700) | 924,800) | 945,900) | 1,030,200) | 930,900) | 807,500) | 740,200) | |||||||
| Working capital | 6,257,600) | 6,229,300) | 7,226,500) | 6,493,400) | 5,569,600) | 4,830,900) | 5,059,700) | 5,117,500) | 4,691,000) | 4,695,100) | 4,700,700) | 5,012,000) | 5,161,800) | 5,660,700) | 5,405,600) | 4,974,200) | 3,745,600) | 3,632,400) | 3,386,100) | 3,264,100) | 3,284,800) | |||||||
| Revenue | 1,890,600) | 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) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Working capital turnover1 | 1.17 | 1.14 | 0.95 | 1.03 | 1.15 | 1.29 | 1.21 | 1.17 | 1.26 | 1.22 | 1.17 | 1.03 | 0.88 | 0.77 | 0.80 | 0.88 | 1.23 | 1.23 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | — | 4.54 | 4.15 | 4.39 | 4.21 | 4.48 | 3.92 | 3.63 | 4.13 | 3.87 | 3.98 | 4.02 | 3.99 | 4.06 | 4.52 | 5.02 | 6.84 | 6.64 | — | — | — | |||||||
| Cigna Group | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| CVS Health Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Danaher Corp. | — | 4.22 | 2.50 | 3.35 | 3.97 | 4.20 | 5.00 | 5.43 | 5.91 | 8.40 | 7.98 | 3.12 | 3.45 | 3.48 | 3.14 | 2.80 | 6.74 | 0.87 | — | — | — | |||||||
| Elevance Health Inc. | 8.59 | 7.83 | 7.92 | 7.69 | 7.60 | 8.37 | 9.11 | 8.85 | 8.65 | 7.23 | 6.79 | 6.67 | 5.38 | 6.39 | 5.98 | 5.40 | 6.81 | 6.11 | — | — | — | |||||||
| Humana Inc. | — | 9.47 | 9.72 | 9.34 | 8.98 | 10.27 | 10.54 | 9.53 | 9.27 | 8.67 | 7.47 | 7.38 | 7.61 | 7.42 | 6.04 | 6.14 | 6.91 | 7.19 | — | — | — | |||||||
| Medtronic PLC | 2.46 | 2.47 | 2.81 | 2.82 | 3.84 | 2.97 | 2.21 | 2.13 | 2.15 | 2.15 | 2.02 | 2.00 | 2.44 | 2.48 | 2.03 | 2.13 | 2.16 | 2.26 | 2.54 | 2.30 | 2.24 | |||||||
| Shockwave Medical Inc. | — | 0.65 | 0.64 | 1.64 | 1.24 | 1.24 | 1.26 | 1.27 | 1.15 | 1.01 | 0.81 | 0.64 | 0.42 | 0.31 | 0.25 | 0.21 | 0.28 | 0.22 | — | — | — | |||||||
| UnitedHealth Group Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
Working capital turnover
= (RevenueQ1 2024
+ RevenueQ4 2023
+ RevenueQ3 2023
+ RevenueQ2 2023)
÷ Working capital
= (1,890,600 + 1,928,300 + 1,743,700 + 1,755,900)
÷ 6,257,600 = 1.17
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Intuitive Surgical Inc. working capital turnover ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Average Inventory Processing Period
Intuitive Surgical Inc., average inventory processing period calculation (quarterly data)
| Mar 31, 2024 | 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 | ||||||||||||||||||||||||||||
| Inventory turnover | 1.89 | 1.96 | 1.99 | 2.21 | 2.25 | 2.27 | 2.36 | 2.62 | 2.82 | 2.98 | 2.90 | 2.84 | 2.64 | 2.49 | 2.18 | 2.22 | 2.30 | 2.30 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||
| Average inventory processing period1 | 193 | 186 | 183 | 166 | 162 | 161 | 155 | 139 | 130 | 122 | 126 | 129 | 138 | 147 | 167 | 164 | 159 | 159 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | — | 133 | 135 | 139 | 132 | 118 | 108 | 113 | 109 | 102 | 105 | 111 | 122 | 122 | 135 | 142 | 125 | 119 | — | — | — | |||||||
| Cigna Group | — | 15 | 12 | 13 | 12 | 14 | 12 | 11 | 11 | 12 | 10 | 10 | 10 | 11 | 10 | 10 | 10 | 10 | — | — | — | |||||||
| CVS Health Corp. | — | 22 | 22 | 22 | 24 | 26 | 25 | 25 | 27 | 27 | 27 | 27 | 29 | 31 | 29 | 28 | 29 | 30 | — | — | — | |||||||
| Danaher Corp. | — | 96 | 90 | 94 | 100 | 91 | 96 | 98 | 94 | 88 | 90 | 85 | 84 | 85 | 96 | 112 | 118 | 75 | — | — | — | |||||||
| Medtronic PLC | 191 | 180 | 190 | 183 | 174 | 166 | 161 | 153 | 148 | 150 | 163 | 166 | 174 | 164 | 156 | 155 | 154 | 150 | 156 | 153 | 151 | |||||||
| Shockwave Medical Inc. | — | 412 | 405 | 415 | 415 | 422 | 418 | 412 | 419 | 379 | 401 | 446 | 527 | 519 | 525 | 445 | 294 | 257 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 1.89 = 193
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Intuitive Surgical Inc. number of days of inventory outstanding deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Average Receivable Collection Period
Intuitive Surgical Inc., average receivable collection period calculation (quarterly data)
| Mar 31, 2024 | 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 | ||||||||||||||||||||||||||||
| Receivables turnover | 6.49 | 6.30 | 7.12 | 7.37 | 6.95 | 6.60 | 7.20 | 7.11 | 6.52 | 7.30 | 7.90 | 7.38 | 6.96 | 6.75 | 7.32 | 8.56 | 8.73 | 6.94 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||
| Average receivable collection period1 | 56 | 58 | 51 | 50 | 53 | 55 | 51 | 51 | 56 | 50 | 46 | 49 | 52 | 54 | 50 | 43 | 42 | 53 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | — | 60 | 59 | 56 | 53 | 52 | 52 | 58 | 59 | 55 | 55 | 55 | 60 | 68 | 64 | 60 | 60 | 62 | — | — | — | |||||||
| CVS Health Corp. | — | 36 | 35 | 32 | 31 | 31 | 31 | 32 | 32 | 31 | 32 | 32 | 32 | 30 | 33 | 31 | 32 | 28 | — | — | — | |||||||
| Danaher Corp. | — | 60 | 52 | 50 | 51 | 57 | 51 | 54 | 53 | 57 | 55 | 56 | 58 | 66 | 63 | 65 | 69 | 65 | — | — | — | |||||||
| Elevance Health Inc. | 23 | 20 | 20 | 19 | 22 | 19 | 19 | 19 | 22 | 18 | 19 | 19 | 21 | 19 | 19 | 20 | 22 | 20 | — | — | — | |||||||
| Humana Inc. | — | 7 | 7 | 5 | 12 | 7 | 6 | 14 | 13 | 8 | 9 | 11 | 10 | 5 | 6 | 12 | 11 | 6 | — | — | — | |||||||
| Medtronic PLC | 67 | 70 | 70 | 67 | 62 | 64 | 63 | 63 | 63 | 66 | 68 | 70 | 64 | 59 | 73 | 72 | 70 | 74 | 70 | 69 | 69 | |||||||
| Shockwave Medical Inc. | — | 57 | 54 | 57 | 55 | 53 | 55 | 60 | 58 | 58 | 62 | 70 | 85 | 63 | 66 | 45 | 56 | 63 | — | — | — | |||||||
| UnitedHealth Group Inc. | — | 21 | 21 | 19 | 25 | 20 | 20 | 22 | 23 | 18 | 19 | 20 | 22 | 18 | 18 | 19 | 22 | 18 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 6.49 = 56
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Intuitive Surgical Inc. number of days of receivables outstanding deteriorated from Q3 2023 to Q4 2023 but then slightly improved from Q4 2023 to Q1 2024. |
Operating Cycle
Intuitive Surgical Inc., operating cycle calculation (quarterly data)
No. days
| Mar 31, 2024 | 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 | ||||||||||||||||||||||||||||
| Average inventory processing period | 193 | 186 | 183 | 166 | 162 | 161 | 155 | 139 | 130 | 122 | 126 | 129 | 138 | 147 | 167 | 164 | 159 | 159 | — | — | — | |||||||
| Average receivable collection period | 56 | 58 | 51 | 50 | 53 | 55 | 51 | 51 | 56 | 50 | 46 | 49 | 52 | 54 | 50 | 43 | 42 | 53 | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Operating cycle1 | 249 | 244 | 234 | 216 | 215 | 216 | 206 | 190 | 186 | 172 | 172 | 178 | 190 | 201 | 217 | 207 | 201 | 212 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | — | 193 | 194 | 195 | 185 | 170 | 160 | 171 | 168 | 157 | 160 | 166 | 182 | 190 | 199 | 202 | 185 | 181 | — | — | — | |||||||
| CVS Health Corp. | — | 58 | 57 | 54 | 55 | 57 | 56 | 57 | 59 | 58 | 59 | 59 | 61 | 61 | 62 | 59 | 61 | 58 | — | — | — | |||||||
| Danaher Corp. | — | 156 | 142 | 144 | 151 | 148 | 147 | 152 | 147 | 145 | 145 | 141 | 142 | 151 | 159 | 177 | 187 | 140 | — | — | — | |||||||
| Medtronic PLC | 258 | 250 | 260 | 250 | 236 | 230 | 224 | 216 | 211 | 216 | 231 | 236 | 238 | 223 | 229 | 227 | 224 | 224 | 226 | 222 | 220 | |||||||
| Shockwave Medical Inc. | — | 469 | 459 | 472 | 470 | 475 | 473 | 472 | 477 | 437 | 463 | 516 | 612 | 582 | 591 | 490 | 350 | 320 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 193 + 56 = 249
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Intuitive Surgical Inc. operating cycle deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Average Payables Payment Period
Intuitive Surgical Inc., average payables payment period calculation (quarterly data)
| Mar 31, 2024 | 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 | ||||||||||||||||||||||||||||
| Payables turnover | 12.64 | 12.69 | 11.66 | 11.10 | 12.99 | 13.78 | 12.01 | 12.68 | 14.36 | 14.45 | 14.13 | 13.71 | 14.80 | 18.35 | 12.46 | 13.18 | 10.69 | 11.08 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||
| Average payables payment period1 | 29 | 29 | 31 | 33 | 28 | 26 | 30 | 29 | 25 | 25 | 26 | 27 | 25 | 20 | 29 | 28 | 34 | 33 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | — | 87 | 80 | 85 | 82 | 88 | 78 | 86 | 91 | 87 | 80 | 82 | 92 | 96 | 83 | 91 | 87 | 90 | — | — | — | |||||||
| Cigna Group | — | 54 | 54 | 53 | 51 | 50 | 49 | 49 | 46 | 48 | 47 | 48 | 47 | 47 | 46 | 44 | 40 | 39 | — | — | — | |||||||
| CVS Health Corp. | — | 18 | 19 | 17 | 17 | 20 | 19 | 19 | 19 | 19 | 20 | 18 | 18 | 19 | 20 | 17 | 17 | 18 | — | — | — | |||||||
| Danaher Corp. | — | 65 | 57 | 57 | 62 | 67 | 65 | 73 | 72 | 82 | 70 | 66 | 69 | 76 | 67 | 69 | 80 | 70 | — | — | — | |||||||
| Elevance Health Inc. | 48 | 47 | 48 | 48 | 48 | 49 | 49 | 50 | 50 | 48 | 50 | 50 | 50 | 47 | 44 | 43 | 43 | 39 | — | — | — | |||||||
| Humana Inc. | — | 42 | 44 | 47 | 47 | 45 | 45 | 48 | 48 | 44 | 47 | 47 | 50 | 48 | 51 | 51 | 46 | 41 | — | — | — | |||||||
| Medtronic PLC | 75 | 91 | 78 | 79 | 79 | 82 | 71 | 67 | 64 | 73 | 66 | 70 | 66 | 77 | 74 | 75 | 75 | 78 | 69 | 71 | 73 | |||||||
| Shockwave Medical Inc. | — | 34 | 29 | 58 | 55 | 38 | 21 | 36 | 67 | 31 | 38 | 32 | 59 | 25 | 36 | 49 | 40 | 59 | — | — | — | |||||||
| UnitedHealth Group Inc. | — | 49 | 51 | 52 | 53 | 50 | 52 | 53 | 54 | 48 | 52 | 52 | 56 | 50 | 49 | 46 | 52 | 51 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 12.64 = 29
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. |
Cash Conversion Cycle
Intuitive Surgical Inc., cash conversion cycle calculation (quarterly data)
No. days
| Mar 31, 2024 | 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 | ||||||||||||||||||||||||||||
| Average inventory processing period | 193 | 186 | 183 | 166 | 162 | 161 | 155 | 139 | 130 | 122 | 126 | 129 | 138 | 147 | 167 | 164 | 159 | 159 | — | — | — | |||||||
| Average receivable collection period | 56 | 58 | 51 | 50 | 53 | 55 | 51 | 51 | 56 | 50 | 46 | 49 | 52 | 54 | 50 | 43 | 42 | 53 | — | — | — | |||||||
| Average payables payment period | 29 | 29 | 31 | 33 | 28 | 26 | 30 | 29 | 25 | 25 | 26 | 27 | 25 | 20 | 29 | 28 | 34 | 33 | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Cash conversion cycle1 | 220 | 215 | 203 | 183 | 187 | 190 | 176 | 161 | 161 | 147 | 146 | 151 | 165 | 181 | 188 | 179 | 167 | 179 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | ||||||||||||||||||||||||||||
| Abbott Laboratories | — | 106 | 114 | 110 | 103 | 82 | 82 | 85 | 77 | 70 | 80 | 84 | 90 | 94 | 116 | 111 | 98 | 91 | — | — | — | |||||||
| CVS Health Corp. | — | 40 | 38 | 37 | 38 | 37 | 37 | 38 | 40 | 39 | 39 | 41 | 43 | 42 | 42 | 42 | 44 | 40 | — | — | — | |||||||
| Danaher Corp. | — | 91 | 85 | 87 | 89 | 81 | 82 | 79 | 75 | 63 | 75 | 75 | 73 | 75 | 92 | 108 | 107 | 70 | — | — | — | |||||||
| Medtronic PLC | 183 | 159 | 182 | 171 | 157 | 148 | 153 | 149 | 147 | 143 | 165 | 166 | 172 | 146 | 155 | 152 | 149 | 146 | 157 | 151 | 147 | |||||||
| Shockwave Medical Inc. | — | 435 | 430 | 414 | 415 | 437 | 452 | 436 | 410 | 406 | 425 | 484 | 553 | 557 | 555 | 441 | 310 | 261 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 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 Q1 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 193 + 56 – 29 = 220
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Intuitive Surgical Inc. cash conversion cycle deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |