Intuitive Surgical, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.06B | $8.35B | $7.12B | $6.22B | $5.71B | $4.36B | $4.48B | $3.72B |
| Cost of Revenue | $3.42B | $2.72B | $2.39B | $2.03B | $1.75B | $1.50B | $1.37B | $1.12B |
| Gross Profit | $6.64B | $5.63B | $4.73B | $4.20B | $3.96B | $2.86B | $3.11B | $2.60B |
| Gross Margin | 66.0% | 67.5% | 66.4% | 67.4% | 69.3% | 65.6% | 69.4% | 69.9% |
| Operating Expenses | ||||||||
| Research & Development | $1.31B | $1.15B | $998.8M | $879.0M | $671.0M | $595.1M | $557.3M | $418.1M |
| SG&A Expense | $2.39B | $2.14B | $1.96B | $1.74B | $1.47B | $1.22B | $1.18B | $986.6M |
| Operating Income | $2.95B | $2.35B | $1.77B | $1.58B | $1.82B | $1.05B | $1.37B | $1.20B |
| Operating Margin | 29.3% | 28.1% | 24.8% | 25.3% | 31.9% | 24.1% | 30.7% | 32.2% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $3.31B | $2.67B | $1.96B | $1.61B | $1.89B | $1.21B | $1.50B | $1.28B |
| Income Tax Expense | $434.8M | $336.3M | $141.6M | $262.4M | $162.2M | $140.2M | $120.4M | $154.5M |
| Net Income | $2.86B | $2.32B | $1.80B | $1.32B | $1.70B | $1.06B | $1.38B | $1.13B |
| Net Margin | 28.4% | 27.8% | 25.2% | 21.3% | 29.9% | 24.3% | 30.8% | 30.3% |
| EPS (Basic) | $8.00 | $6.54 | $5.12 | $3.72 | $4.79 | $3.02 | $3.98 | $3.31 |
| EPS (Diluted) | $7.87 | $6.42 | $5.03 | $3.65 | $4.66 | $2.94 | $3.85 | $3.16 |
| Shares Outstanding (Basic) | 356.9M | 355.2M | 351.2M | 355.7M | 356.1M | 351.1M | 346.2M | 341.1M |
| Shares Outstanding (Diluted) | 362.7M | 362.0M | 357.4M | 362.0M | 365.8M | 361.0M | 358.4M | 356.4M |
| Dividends Per Share | — | — | — | — | — | — | — | — |