ISRG FY 2016 Earnings Report — Intuitive Surgical, Inc. Revenue & Financial Results | Market Cap Arena

Intuitive Surgical, Inc.ISRG

FY 2016 Earnings

Reported February 3, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$2.7B	—	$2.4B	—	13.4%
Op. Income	$945M	—	$740M	—	27.7%
Gross Margin	69.9%	—	66.2%	—	3.7pp
Net Margin	27.2%	—	24.7%	—	2.5pp
EPS (Diluted)	$2.08	—	$1.73	—	20.2%
Free Cash Flow	$989M	—	$691M	—	43.1%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$814M
GROSS PROFIT	$1.9B
R&D Expenses	$240M
Selling & Marketing	$0
General & Administrative	$705M
SG&A Expenses	$705M
Other Expenses	$0
Operating Expenses	$945M
Cost & Expenses	$1.8B
OPERATING INCOME	$945M
Interest Income	$36M
Interest Expense	$0
Other Income/Expenses	$36M
INCOME BEFORE TAX	$981M
Income Tax Expense	$245M
Net Income from Continuing Ops	$736M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$736M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$736M
D&A	$89M
EBIT	$950M
EBITDA	$1.1B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$814M
GROSS PROFIT	$1.9B
R&D Expenses	$240M
Selling & Marketing	$0
General & Administrative	$705M
SG&A Expenses	$705M
Other Expenses	$0
Operating Expenses	$945M
Cost & Expenses	$1.8B
OPERATING INCOME	$945M
Interest Income	$36M
Interest Expense	$0
Other Income/Expenses	$36M
INCOME BEFORE TAX	$981M
Income Tax Expense	$245M
Net Income from Continuing Ops	$736M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$736M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$736M
D&A	$89M
EBIT	$950M
EBITDA	$1.1B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$736M
Depreciation & Amortization	$92M
Stock-Based Compensation	$178M
Deferred Income Tax	$19M
Other Non-Cash Items	$22M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$1.0B
Capital Expenditure	-$54M
Acquisitions (Net)	$54M
Purchases of Investments	-$2.6B
Sales/Maturities of Investments	$1.4B
Other Investing Activities	-$54M
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	$0
Common Stock Repurchased	-$43M
Common Dividends Paid	$0
Other Financing Activities	$20M
NET CASH FROM FINANCING	$559M
FREE CASH FLOW	$989M
Net Change in Cash	$322M

Balance Sheet

Item	Amount
Cash & Equivalents	$4.8B
Short-Term Investments	$0
Net Receivables	$430M
Inventory	$182M
Other Current Assets	$42M
TOTAL CURRENT ASSETS	$5.5B
PP&E (Net)	$458M
Goodwill	$201M
Intangible Assets	$32M
Long-Term Investments	$2.3B
Tax Assets	$151M
Other Non-Current Assets	-$2.1B
TOTAL NON-CURRENT ASSETS	$1.0B
TOTAL ASSETS	$6.5B
Account Payables	$69M
Short-Term Debt	$0
Deferred Revenue	$250M
Other Current Liabilities	$111M
TOTAL CURRENT LIABILITIES	$709M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$113M
TOTAL NON-CURRENT LIABILITIES	$113M
TOTAL LIABILITIES	$709M
Common Stock	$0
Additional Paid-In Capital	$4.2B
Retained Earnings	$1.6B
Treasury Stock	$0
Accum. Other Comp. Income	-$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.8B
Minority Interest	$0
TOTAL EQUITY	$5.8B
TOTAL LIABILITIES & EQUITY	$6.5B
Total Debt	$0
Net Debt	-$4.8B