Intuitive Surgical, Inc. (ISRG) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 2.77B | 2.87B | 2.51B | 2.44B | 2.25B | 2.41B | 2.04B | 2.01B | 1.89B | 1.93B | 1.74B | 1.76B | 1.7B | 1.66B | 1.56B | 1.52B | 1.49B | 1.55B | 1.4B | 1.46B |
| Revenue Growth % | 22.96% | 18.76% | 22.91% | 21.4% | 19.19% | 25.16% | 16.88% | 14.47% | 11.46% | 16.51% | 11.96% | 15.36% | 14.01% | 6.73% | 10.98% | 3.97% | 15.14% | 16.67% | 30.21% | 71.81% |
| Cost of Goods Sold | 940.3M | 961.9M | 842.7M | 822.1M | 795.7M | 771.3M | 664.2M | 637.2M | 645.2M | 650.9M | 576.5M | 584M | 583.2M | 544.1M | 505.3M | 498.8M | 478M | 489.9M | 431.9M | 440.3M |
| COGS % of Revenue | 33.94% | 33.56% | 33.64% | 33.69% | 35.31% | 31.96% | 32.59% | 31.7% | 34.13% | 33.76% | 33.06% | 33.26% | 34.38% | 32.88% | 32.45% | 32.77% | 32.13% | 31.59% | 30.78% | 30.08% |
| Gross Profit | 1.83B | 1.9B | 1.66B | 1.62B | 1.46B | 1.64B | 1.37B | 1.37B | 1.25B | 1.28B | 1.17B | 1.17B | 1.11B | 1.11B | 1.05B | 1.02B | 1.01B | 1.06B | 971.4M | 1.02B |
| Gross Margin % | 66.06% | 66.44% | 66.36% | 66.31% | 64.69% | 68.04% | 67.41% | 68.3% | 65.87% | 66.24% | 66.94% | 66.74% | 65.62% | 67.12% | 67.55% | 67.23% | 67.87% | 68.41% | 69.22% | 69.92% |
| Gross Profit Growth % | 25.57% | 15.96% | 21% | 17.86% | 17.05% | 28.56% | 17.71% | 17.13% | 11.9% | 14.99% | 10.94% | 14.52% | 10.23% | 4.72% | 8.31% | -0.04% | 11.87% | 18.42% | 34.12% | 103.56% |
| Operating Expenses | 975.2M | 1.04B | 902.7M | 874.5M | 879.6M | 907.3M | 796.6M | 805.4M | 776M | 827.2M | 701.4M | 708.7M | 725.4M | 738.4M | 653.2M | 625.7M | 601.6M | 610.4M | 528.8M | 512.5M |
| OpEx % of Revenue | 35.2% | 36.29% | 36.03% | 35.84% | 39.03% | 37.59% | 39.09% | 40.07% | 41.05% | 42.9% | 40.22% | 40.36% | 42.77% | 44.62% | 41.94% | 41.11% | 40.44% | 39.36% | 37.68% | 35.01% |
| Selling, General & Admin | 613.3M | 687.1M | 573.3M | 561.2M | 563.4M | 612.6M | 510.6M | 525.3M | 491.5M | 567.1M | 452M | 464.3M | 480.5M | 494.3M | 436.1M | 418.4M | 391.1M | 427M | 363.3M | 350.2M |
| SG&A % of Revenue | 22.13% | 23.97% | 22.89% | 23% | 25% | 25.38% | 25.05% | 26.14% | 26% | 29.41% | 25.92% | 26.44% | 28.33% | 29.87% | 28% | 27.49% | 26.29% | 27.54% | 25.89% | 23.92% |
| Research & Development | 361.9M | 352.9M | 329.4M | 313.3M | 316.2M | 294.7M | 286M | 280.1M | 284.5M | 260.1M | 249.4M | 244.4M | 244.9M | 244.1M | 217.1M | 207.3M | 210.5M | 183.4M | 165.5M | 162.3M |
| R&D % of Revenue | 13.06% | 12.31% | 13.15% | 12.84% | 14.03% | 12.21% | 14.03% | 13.94% | 15.05% | 13.49% | 14.3% | 13.92% | 14.44% | 14.75% | 13.94% | 13.62% | 14.15% | 11.83% | 11.79% | 11.09% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 855.3M | 864.3M | 759.7M | 743.4M | 578.1M | 734.9M | 577.3M | 567.3M | 469.4M | 450.2M | 465.8M | 463.2M | 387.6M | 372.5M | 398.9M | 397.6M | 408.1M | 450.4M | 442.6M | 511.2M |
| Operating Margin % | 30.87% | 30.15% | 30.33% | 30.47% | 25.65% | 30.45% | 28.33% | 28.23% | 24.83% | 23.35% | 26.71% | 26.38% | 22.85% | 22.51% | 25.61% | 26.12% | 27.43% | 29.04% | 31.54% | 34.92% |
| Operating Income Growth % | 47.95% | 17.61% | 31.6% | 31.04% | 23.16% | 63.24% | 23.94% | 22.47% | 21.1% | 20.86% | 16.77% | 16.5% | -5.02% | -17.3% | -9.87% | -22.22% | -2.09% | 8.32% | 63.68% | 534.24% |
| EBITDA | 1.06B | 1.09B | 919.7M | 898.7M | 719M | 859.6M | 693.5M | 679.1M | 578.7M | 573.4M | 574.4M | 560.5M | 480.3M | 478.7M | 488.7M | 483.6M | 491.9M | 531.3M | 524.7M | 586.8M |
| EBITDA Margin % | 38.09% | 37.86% | 36.71% | 36.83% | 31.91% | 35.62% | 34.03% | 33.79% | 30.61% | 29.74% | 32.94% | 31.92% | 28.32% | 28.92% | 31.38% | 31.77% | 33.06% | 34.26% | 37.39% | 40.08% |
| EBITDA Growth % | 46.77% | 26.24% | 32.62% | 32.34% | 24.24% | 49.91% | 20.73% | 21.16% | 20.49% | 19.78% | 17.54% | 15.9% | -2.36% | -9.9% | -6.86% | -17.59% | 0.7% | 7.2% | 54.51% | 306.37% |
| D&A (Non-Cash Add-back) | 200M | 220.9M | 160M | 155.3M | 140.9M | 124.7M | 116.2M | 111.8M | 109.3M | 123.2M | 108.6M | 97.3M | 92.7M | 106.2M | 89.8M | 86M | 83.8M | 80.9M | 82.1M | 75.6M |
| EBIT | 940.4M | 955.6M | 855.2M | 832.1M | 668.5M | 809.8M | 671M | 654.5M | 538.5M | 515.9M | 522M | 499.2M | 421.8M | 394.7M | 402.8M | 406.9M | 402.4M | 454.2M | 461.1M | 526.2M |
| Net Interest Income | 85.1M | 91.3M | 95.5M | 88.7M | 90.4M | 74.9M | 93.7M | 87.2M | 69.1M | 65.7M | 56.2M | 36M | 34.2M | 22.2M | 3.9M | 9.3M | 5.7M | 3.8M | 18.5M | 15M |
| Interest Income | 85.1M | 91.3M | 95.5M | 88.7M | 90.4M | 74.9M | 93.7M | 87.2M | 69.1M | 65.7M | 56.2M | 36M | 34.2M | 22.2M | 3.9M | 9.3M | 5.7M | 3.8M | 18.5M | 15M |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 85.1M | 91.3M | 95.5M | 88.7M | 90.4M | 74.9M | 93.7M | 87.2M | 69.1M | 65.7M | 56.2M | 36M | 34.2M | 22.2M | 3.9M | 9.3M | -5.7M | 3.8M | 18.5M | 15M |
| Pretax Income | 940.4M | 955.6M | 855.2M | 832.1M | 668.5M | 809.8M | 671M | 654.5M | 538.5M | 515.9M | 522M | 499.2M | 421.8M | 394.7M | 402.8M | 406.9M | 402.4M | 454.2M | 461.1M | 526.2M |
| Pretax Margin % | 33.94% | 33.34% | 34.14% | 34.1% | 29.67% | 33.55% | 32.92% | 32.56% | 28.48% | 26.75% | 29.94% | 28.43% | 24.87% | 23.85% | 25.86% | 26.73% | 27.05% | 29.29% | 32.86% | 35.94% |
| Income Tax | 114.4M | 156.1M | 146M | 167.9M | -35.2M | 121.8M | 100.4M | 123M | -8.9M | -94.8M | 102.2M | 73.2M | 61M | 58M | 78.1M | 93.3M | 33M | 71.5M | 73.9M | 3.2M |
| Effective Tax Rate % | 12.17% | 16.34% | 17.07% | 20.18% | -5.27% | 15.04% | 14.96% | 18.79% | -1.65% | -18.38% | 19.58% | 14.66% | 14.46% | 14.69% | 19.39% | 22.93% | 8.2% | 15.74% | 16.03% | 0.61% |
| Net Income | 821.5M | 794.8M | 704.4M | 658.4M | 698.4M | 685.7M | 565.1M | 526.9M | 544.9M | 606.2M | 415.7M | 420.8M | 355.3M | 324.9M | 324M | 307.8M | 365.6M | 380.6M | 380.5M | 517.2M |
| Net Margin % | 29.65% | 27.73% | 28.12% | 26.98% | 30.99% | 28.41% | 27.73% | 26.22% | 28.82% | 31.44% | 23.84% | 23.96% | 20.95% | 19.63% | 20.8% | 20.22% | 24.57% | 24.54% | 27.11% | 35.33% |
| Net Income Growth % | 17.63% | 15.91% | 24.65% | 24.96% | 28.17% | 13.11% | 35.94% | 25.21% | 53.36% | 86.58% | 28.3% | 36.71% | -2.82% | -14.63% | -14.85% | -40.49% | -14.24% | 4.22% | 21.22% | 660.59% |
| Net Income (Continuing) | 826M | 799.5M | 709.2M | 664.2M | 703.7M | 688M | 570.6M | 531.5M | 547.4M | 610.7M | 419.8M | 426M | 360.8M | 336.7M | 324.7M | 313.6M | 369.4M | 382.7M | 387.2M | 523M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 122.7M | 117.7M | 112.4M | 107.4M | 101.3M | 95.9M | 94.2M | 88.2M | 83.8M | 89.7M | 84.5M | 80.6M | 76.5M | 70.7M | 58.6M | 59.4M | 54.6M | 50.4M | 48.6M | 42M |
| EPS (Diluted) | 2.28 | 2.21 | 1.95 | 1.81 | 1.92 | 1.88 | 1.56 | 1.46 | 1.51 | 1.69 | 1.16 | 1.18 | 1.00 | 0.91 | 0.90 | 0.85 | 1.00 | 1.04 | 1.04 | 1.42 |
| EPS Growth % | 18.75% | 17.55% | 25% | 23.97% | 27.15% | 11.24% | 34.48% | 23.73% | 51% | 85.71% | 28.89% | 38.82% | 0% | -12.5% | -13.46% | -40.14% | -14.53% | 2.97% | 19.54% | 647.37% |
| EPS (Basic) | 2.31 | 2.24 | 1.98 | 1.84 | 1.95 | 1.92 | 1.59 | 1.48 | 1.54 | 1.72 | 1.18 | 1.20 | 1.01 | 0.93 | 0.91 | 0.86 | 1.02 | 1.06 | 1.07 | 1.45 |
| Diluted Shares Outstanding | 359.8M | 360.4M | 361.8M | 364.1M | 364.6M | 363.9M | 362.7M | 361M | 360.5M | 358.2M | 358.2M | 357.3M | 356M | 357M | 360.5M | 363.9M | 366.7M | 367.4M | 366.8M | 364.8M |
| Basic Shares Outstanding | 354.9M | 354.9M | 356.6M | 358.5M | 357.5M | 356.4M | 355.8M | 355M | 353.5M | 352.1M | 351.7M | 350.9M | 350.2M | 351.1M | 355.3M | 358.1M | 358.4M | 357.5M | 356.8M | 355.8M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |