Intuitive Surgical (ISRG) FY2023 results: revenue $7.1 billion, up 14.5% on the year
Intuitive Surgical Inc. (ISRG) reported revenue of $7.1 billion for fiscal 2023, the year ended 31 December 2023, up 14.5% on the year before. Net income was $1.8 billion, up 36.0%, and diluted earnings per share $5.03. The figures are the company's own, from the 10-K it filed with the SEC on 31 January 2024.
Revenue
$7.1 billion
+14.5% on the year
FY2016FY2023
Operating margin
24.8%
25.3% a year earlier
FY2016FY2023
Net income
$1.8 billion
+36.0% on the year
FY2016FY2023
Diluted EPS
$5.03
+37.8% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,814
1,491
2,089
+21.7%
Capital expenditure
1,064
532
340
+99.9%
Free cash flow
750
958
1,750
-21.8%
Free cash flow margin
10.5%
15.4%
30.6%
Cash from investing
-360
1,371
-2,462
Cash from financing
-288
-2,572
43.0
Depreciation and amortisation
402
354
307
+13.7%
Share-based compensation
593
513
449
+15.5%
Buybacks
416
2,607
0.0
-84.0%
Diluted shares, weighted
357m
362m
366m
-1.3%
Shares outstanding at period end
352m
350m
358m
+0.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
13,308
11,042
11,901
+20.5%
Non-controlling interest
89.7
70.7
50.4
+26.9%
Debt
0.0
0.0
0.0
Operating lease liabilities
64.5
69.6
66.6
-7.3%
Other liabilities
1,980
1,792
1,537
+10.5%
Total liabilities and equity
15,442
12,974
13,555
+19.0%
Fixed assets
3,538
2,374
1,876
+49.0%
Goodwill
349
348
344
+0.1%
Intangible assets
39.1
49.8
70.5
-21.5%
Investments
4,593
5,160
7,329
-11.0%
Cash and equivalents
2,750
1,581
1,291
+73.9%
Receivables
1,130
942
783
+20.0%
Inventory
1,221
893
587
+36.7%
Other assets
1,822
1,625
1,275
+12.1%
Total assets
15,442
12,974
13,555
+19.0%
10-K for the year ended 31 December 2023, filed 31 January 2024: the filing.