Income StatementBalance SheetCash FlowSegments
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Intuitive Surgical Cash Flow Statement

Operating, investing, and financing cash movements

Intuitive Surgical generated $3.4B in operating cash flow over the trailing twelve months. After $526.5M in capital expenditures, free cash flow was $2.8B. Free cash flow increased 0.6% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$3.4BNet Cash From Investing (TTM)-$389.0MNet Cash From Financing (TTM)-$3.5BCapital Expenditures (TTM)$526.5MDepreciation And Amortization Cf$75.7MNet Change In Cash (TTM)$379.7M
Latest FilingQ1 2026
Report Date2026-04-22
Market Cap$155.16B
P/E Ratio52.08
ROE17.12%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$1.0M$0.0$1.2M$0.0$12.7M$528.2M
Capital expenditures$312.0M$116.6M$155.3M$105.4M$162.5M$103.3M
Proceeds from Sale of Other Productive Assets—$0.0———$46.0M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$478.8M$849.9M$340.1M$605.5M$380.0M$582.3M
Proceeds from sale of assets—$0.0———$46.0M
Proceeds from Sale of Other Productive Assets—$0.0———$46.0M
Net cash from investing activities-$1.3B$213.5M$260.7M$401.0M—-$914.5M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Amortization of Investment Discount and Premium$5.1M$17.7M$9.7M$14.9M$14.9M$10.2M
Accretion (amortization) of discounts and premiums on investments$5.1M$17.7M$9.7M$14.9M$14.9M$10.2M
Change in accounts payable-$21.6M$83.1M—$24.6M—$73.9M
Change in accounts receivable$74.1M-$3.6M$47.7M$0.0$267.5M-$25.1M
Change in inventories$179.1M$211.1M$283.1M$316.2M$253.0M$266.6M
Change in other liabilities$90.7M-$118.1M$82.4M$40.9M$28.9M$30.7M
Accretion (Amortization) of Investment Discounts and Premiums$5.1M$17.7M$9.7M$14.9M$14.9M$10.2M
Depreciation and Loss on Disposal of PP&E$121.6M$137.5M$152.1M$156.7M$168.4M$178.9M
Net cash from operating activities$822.6M$581.6M$715.4M$841.0M$892.5M$911.9M
Net income$688.0M$703.7M$664.2M$709.2M$799.5M$826.0M
Accretion (Amortization) of Discounts and Premiums, Investments$5.1M$17.7M$9.7M$14.9M$14.9M$10.2M
Amortization of intangible and other assets$13.6M$12.1M———$21.1M
Depreciation and loss on disposal of property, plant, and equipment$121.6M$137.5M$152.1M$156.7M$168.4M$178.9M
Gain on sale of business and assets$275.0K$0.0———$7.9M
Increase (Decrease) in Deferred Income Taxes$30.8M-$100.0K$29.5M-$88.0M—-$339.3M
Deferred revenue$37.3M$37.0M$11.8M$0.0$27.6M$46.1M
Accrued compensation and employee benefits$158.2M-$226.0M——$192.9M-$284.7M
Increase (Decrease) in Prepaid Expense and Other Assets$152.2M$7.8M$134.0M$107.1M—$269.3M
Accretion (Amortization) of Investment Discounts and Premiums$5.1M$17.7M$9.7M$14.9M$14.9M$10.2M
Stock-based compensation$177.0M$185.2M$196.2M$203.5M$203.3M$209.5M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distributions to noncontrolling interests$2.0M$0.0$0.0$0.0$0.0—
Proceeds from issuance of common stock relating to employee stock plans$61.9M$134.3M$49.4M$90.0M$76.6M$121.8M
Net cash from financing activities$49.4M-$235.8M-$147.8M-$1.8B-$137.5M-$1.4B
Repurchases of common stock$0.0$0.0$181.0M$1.9B$201.0M$1.1B
Taxes paid for net share settlement$12.5M$370.1M$16.2M$19.7M$13.1M$352.3M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$510.6M$465.0M$560.1M$735.6M$730.0M$808.6M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash—-$4.5M$1.0M$4.0M$12.3M$1.0M
Net increase (decrease) in cash-$383.9M$554.8M$829.3M—$557.9M-$1.4B