ISRG FY 2015 Earnings Report — Intuitive Surgical, Inc. Revenue & Financial Results | Market Cap Arena

Intuitive Surgical, Inc.ISRG

FY 2015 Earnings

Reported February 2, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$2.4B	—	$2.1B	—	11.9%
Op. Income	$740M	—	$545M	—	35.8%
Gross Margin	66.2%	—	66.3%	—	-0.1pp
Net Margin	24.7%	—	19.6%	—	5.0pp
EPS (Diluted)	$1.73	—	$1.23	—	40.7%
Free Cash Flow	$691M	—	$560M	—	23.5%

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$807M
GROSS PROFIT	$1.6B
R&D Expenses	$197M
Selling & Marketing	$0
General & Administrative	$641M
SG&A Expenses	$641M
Other Expenses	$0
Operating Expenses	$838M
Cost & Expenses	$1.6B
OPERATING INCOME	$740M
Interest Income	$19M
Interest Expense	$0
Other Income/Expenses	$19M
INCOME BEFORE TAX	$759M
Income Tax Expense	$170M
Net Income from Continuing Ops	$589M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$589M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$589M
D&A	$90M
EBIT	$740M
EBITDA	$830M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$807M
GROSS PROFIT	$1.6B
R&D Expenses	$197M
Selling & Marketing	$0
General & Administrative	$641M
SG&A Expenses	$641M
Other Expenses	$0
Operating Expenses	$838M
Cost & Expenses	$1.6B
OPERATING INCOME	$740M
Interest Income	$19M
Interest Expense	$0
Other Income/Expenses	$19M
INCOME BEFORE TAX	$759M
Income Tax Expense	$170M
Net Income from Continuing Ops	$589M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$589M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$589M
D&A	$90M
EBIT	$740M
EBITDA	$830M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$589M
Depreciation & Amortization	$90M
Stock-Based Compensation	$168M
Deferred Income Tax	$5M
Other Non-Cash Items	$14M
Change in Working Capital	-$93M
OPERATING CASH FLOW	$772M
Capital Expenditure	-$81M
Acquisitions (Net)	$81M
Purchases of Investments	-$1.8B
Sales/Maturities of Investments	$1.1B
Other Investing Activities	-$81M
NET CASH FROM INVESTING	-$850M
Net Debt Issuance	$0
Common Stock Repurchased	-$184M
Common Dividends Paid	$0
Other Financing Activities	$16M
NET CASH FROM FINANCING	$193M
FREE CASH FLOW	$691M
Net Change in Cash	$114M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.3B
Short-Term Investments	$0
Net Receivables	$394M
Inventory	$168M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.9B
PP&E (Net)	$432M
Goodwill	$201M
Intangible Assets	$50M
Long-Term Investments	$1.8B
Tax Assets	$168M
Other Non-Current Assets	-$1.6B
TOTAL NON-CURRENT ASSETS	$997M
TOTAL ASSETS	$4.9B
Account Payables	$53M
Short-Term Debt	$0
Deferred Revenue	$230M
Other Current Liabilities	$85M
TOTAL CURRENT LIABILITIES	$588M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$96M
TOTAL NON-CURRENT LIABILITIES	$96M
TOTAL LIABILITIES	$588M
Common Stock	$0
Additional Paid-In Capital	$3.4B
Retained Earnings	$899M
Treasury Stock	$0
Accum. Other Comp. Income	-$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.3B
Minority Interest	$0
TOTAL EQUITY	$4.3B
TOTAL LIABILITIES & EQUITY	$4.9B
Total Debt	$0
Net Debt	-$3.3B