Stock Analysis on Net
Stock Analysis on Net
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Intuitive Surgical Inc. (NASDAQ:ISRG)

Enterprise Value (EV)

Intermediate level

Current Enterprise Value (EV)

Intuitive Surgical Inc., current enterprise value calculation

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Current share price (P) $720.90
No. shares of common stock outstanding 117,555,484
US$ in thousands
Common equity (market value)1 84,745,748 
Add: Preferred stock, $0.001 par value, issuable in series; no shares issued and outstanding (per books) — 
Add: Noncontrolling interest in joint venture (per books) 20,900 
Total equity 84,766,648 
Add: Total debt (book value) — 
Total equity and debt 84,766,648 
Less: Cash and cash equivalents 1,167,600 
Less: Short-term investments 2,054,100 
Enterprise value (EV) 81,544,948 

Based on: 10-K (filing date: 2020-02-07).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 720.90 × 117,555,484


Historical Enterprise Value (EV)

Intuitive Surgical Inc., EV calculation

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Share price1, 2 $579.43 $522.43 $416.96 $234.99 $179.78
No. shares of common stock outstanding1 115,984,044 114,488,602 112,298,504 116,360,937 112,140,837
US$ in thousands
Common equity (market value)3 67,204,635  59,812,280  46,823,984  27,343,657  20,160,680 
Add: Preferred stock, $0.001 par value, issuable in series; no shares issued and outstanding (book value) —  —  —  —  — 
Add: Noncontrolling interest in joint venture (book value) 20,900  8,700  1,600  —  — 
Total equity 67,225,535  59,820,980  46,825,584  27,343,657  20,160,680 
Add: Total debt (book value) —  —  —  —  — 
Total equity and debt 67,225,535  59,820,980  46,825,584  27,343,657  20,160,680 
Less: Cash and cash equivalents 1,167,600  857,900  648,200  1,036,600  714,600 
Less: Short-term investments 2,054,100  2,205,200  1,312,400  1,518,000  845,200 
Enterprise value (EV) 64,003,835  56,757,880  44,864,984  24,789,057  18,600,880 

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-04), 10-K (filing date: 2018-02-02), 10-K (filing date: 2017-02-06), 10-K (filing date: 2016-02-02).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Intuitive Surgical Inc.’s Annual Report.

3 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 579.43 × 115,984,044

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. Intuitive Surgical Inc.’s EV increased from 2017 to 2018 and from 2018 to 2019.