Intuitive Surgical (ISRG) FY2021 results: revenue $5.7 billion, up 31.0% on the year
Intuitive Surgical Inc. (ISRG) reported revenue of $5.7 billion for fiscal 2021, the year ended 31 December 2021, up 31.0% on the year before. Net income was $1.7 billion, up 60.7%, and diluted earnings per share $4.66. The figures are the company's own, from the 10-K it filed with the SEC on 3 February 2022.
Revenue
$5.7 billion
+31.0% on the year
FY2014FY2021
Operating margin
31.9%
24.1% a year earlier
FY2014FY2021
Net income
$1.7 billion
+60.7% on the year
FY2014FY2021
Diluted EPS
$4.66
+58.5% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,089
1,485
1,598
+40.7%
Capital expenditure
340
342
426
-0.6%
Free cash flow
1,750
1,143
1,173
+53.1%
Free cash flow margin
30.6%
26.2%
26.2%
Cash from investing
-2,462
-941
-1,154
Cash from financing
43.0
-85.7
-168
Depreciation and amortisation
307
270
200
+13.7%
Share-based compensation
449
395
336
+13.6%
Buybacks
0.0
134
270
Diluted shares, weighted
366m
361m
358m
+1.4%
Shares outstanding at period end
358m
353m
348m
+1.3%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
11,901
9,732
8,264
+22.3%
Non-controlling interest
50.4
27.6
20.9
+82.6%
Debt
0.0
0.0
0.0
Operating lease liabilities
66.6
58.0
68.7
+14.8%
Other liabilities
1,537
1,352
1,380
+13.7%
Total liabilities and equity
13,555
11,169
9,733
+21.4%
Fixed assets
1,876
1,577
1,273
+19.0%
Goodwill
344
337
307
+2.0%
Intangible assets
70.5
77.4
112
-8.9%
Investments
7,329
5,246
4,678
+39.7%
Cash and equivalents
1,291
1,623
1,168
-20.4%
Receivables
783
646
645
+21.3%
Inventory
587
602
596
-2.4%
Other assets
1,275
1,061
955
+20.1%
Total assets
13,555
11,169
9,733
+21.4%
10-K for the year ended 31 December 2021, filed 3 February 2022: the filing.