Intuitive Surgical Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	2,877	2,338	1,817	1,344	1,728
Depreciation & Amortization	677.1	499.7	454.8	392.4	332.2
Stock-Based Compensation	788.2	676.8	592.8	513.2	449.2
Other Adjustments	-39.1	-179.7	-273.5	-140.1	-52
Change in Receivables	-301.7	-95.9	-186.3	-159.3	-142.3
Changes in Inventories	-1,063	-830	-712.5	-546.6	-256
Changes in Accounts Payable	57.9	-0.4	41.7	21.3	36
Changes in Accrued Expenses	112.7	99.3	34.8	51.5	115.1
Changes in Unearned Revenue	75.2	31.2	53.4	21.5	32.6
Changes in Other Operating Activities	-153	-123.5	-8.7	-7.5	-153.5
Operating Cash Flow	3,031	2,415	1,814	1,491	2,089
Operating Cash Flow Growth	25.49%	33.15%	21.67%	-28.65%	40.72%
Capital Expenditures	-539.8	-1,111	-1,064	-532.4	-339.5
Purchases of Investments	-1,216	-5,140	-2,207	-1,400	-6,452
Proceeds from Sale of Investments	2,435	2,979	2,920	3,316	4,353
Other Investing Activities	-13.9	-1	-8.9	-12.8	-22.7
Investing Cash Flow	665.8	-3,273	-360.1	1,371	-2,462
Issuance of Common Stock	350.3	429.4	296.3	233.8	276.5
Repurchase of Common Stock	-2,295	-	-416.3	-2,607	-
Net Common Stock Issued (Repurchased)	-1,945	429.4	-120	-2,374	276.5
Other Financing Activities	-419.1	-278.5	-167.6	-198.7	-233.5
Financing Cash Flow	-2,364	150.9	-287.6	-2,572	43
Net Cash Flow	1,332	-706.9	1,166	289.3	-329.1
Free Cash Flow	2,491	1,304	749.6	958.4	1,750
Free Cash Flow Growth	91.03%	73.93%	-21.79%	-45.23%	53.06%
FCF Margin	24.75%	15.61%	10.52%	15.40%	30.65%
Free Cash Flow Per Share	6.87	3.60	2.10	2.65	4.78
Levered Free Cash Flow	2,023	887.7	597.3	722.5	1,472
Unlevered Free Cash Flow	1,725	618.56	438.39	719.75	1,432

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.