Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
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Intuitive Surgical Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The composition of liabilities and stockholders’ equity exhibited several notable trends over the observed period from March 31, 2021, to December 31, 2025. Current liabilities as a percentage of the total increased through much of the period, peaking in December 2022, before declining somewhat in the most recent quarters. Long-term liabilities showed a generally decreasing trend, while stockholders’ equity remained the dominant component of the capital structure, though with some fluctuations.
- Current Liabilities
- Current liabilities increased from 7.84% in March 2021 to a high of 11.39% in September 2023, before decreasing to 9.81% by December 2025. This increase was largely driven by increases in accrued compensation and employee benefits, and other accrued liabilities. The rise suggests a potential increase in short-term obligations, possibly related to operational expansion or changes in payment terms. The subsequent decline may indicate improved management of these short-term obligations.
- Long-Term Liabilities
- Long-term liabilities demonstrated a consistent downward trend, decreasing from 3.86% in March 2021 to 2.50% in December 2025. This suggests a reduction in long-term debt or other long-term obligations, potentially indicating a strengthening financial position or a shift in financing strategy. The decrease was relatively steady throughout the period.
- Stockholders’ Equity
- Stockholders’ equity consistently represented the largest portion of the capital structure, ranging between 85.11% and 89.53% of the total. While generally stable, a slight decrease was observed from March 2021 (88.30%) to December 2022 (85.65%), followed by a recovery to 87.70% by December 2025. Within stockholders’ equity, retained earnings constituted a significant portion, fluctuating between approximately 27.39% and 34.27%, while additional paid-in capital remained relatively high, ranging from 50.77% to 59.38%. Accumulated other comprehensive income (loss) was a smaller component, and exhibited some volatility, moving from a positive 0.10% to a negative -1.41% before stabilizing around 0.21%.
- Accounts Payable & Accrued Liabilities
- Accounts payable and accrued compensation and employee benefits both showed an increasing trend throughout the period. Accounts payable increased from 0.89% to 1.25%, while accrued compensation and employee benefits rose from 1.69% to 3.17%. Other accrued liabilities also increased significantly, from 2.15% to 2.91%. These increases suggest a growing volume of short-term obligations related to suppliers, employees, and other operational expenses.
- Deferred Revenue
- Deferred revenue remained relatively stable, fluctuating between 2.48% and 3.20% of the total. This indicates consistent revenue recognition patterns and a predictable inflow of cash from contracts or subscriptions.
Overall, the company maintained a strong equity base. The observed changes in liabilities suggest dynamic management of short-term obligations and a deliberate reduction in long-term debt. The increases in accounts payable and accrued liabilities warrant continued monitoring to ensure they align with operational growth and do not indicate potential liquidity concerns.