Intuitive Surgical Inc. (NASDAQ:ISRG)

The analysis of the financial leverage ratio over the observed quarters reveals a relatively stable trend with minor fluctuations. Financial leverage measures the extent to which a company utilizes debt to finance its assets, reflecting the ratio of total assets to shareholders' equity.

Trend Overview

The financial leverage ratio begins at 1.14 in the first quarter of 2021 and remains close to this level throughout the period analyzed. Minor variations range from a low of 1.12 to a high of 1.17, indicating moderate changes in the company's leverage position.

Quarterly Movement

A gradual increase is noted from the third quarter of 2021 to the final quarter of 2022, where the ratio peaks at approximately 1.17. This suggests a modest increase in leverage, possibly due to incremental increases in debt or changes in equity.

Starting in early 2023, the ratio stabilizes and slightly decreases, settling back to around 1.13 to 1.14 by the end of 2025. This pattern indicates a conservative approach in managing leverage toward the latter part of the period.

Financial Implications

The narrow range of financial leverage ratios reflects a consistent capital structure with limited reliance on debt. Such stability may contribute to predictable financial risk and supporting ongoing operations without significant shifts in debt levels relative to equity.

Given the absence of data for other leverage ratios, it is not possible to further contextualize this trend with amounts of debt or capital structure changes.

The financial data reveals a generally positive trend in the total stockholders’ equity of the company over the periods analyzed. Beginning at approximately $10.15 billion in the first quarter of 2021, equity shows a consistent increase, reaching a peak of around $17.84 billion by mid-2025. This steady growth suggests a strengthening capital base and the accumulation of retained earnings or other equity components over time.

Notably, there is a decline observed in the last reported quarter, with equity decreasing to approximately $16.93 billion. This dip could indicate either a significant distribution to shareholders, a loss incurred, or other adjustments affecting equity negatively.

The absence of data for total debt and the debt to equity ratio limits deeper insight into the company’s leverage and capital structure. Without these figures, it is not possible to assess the degree of financial risk related to borrowed funds or the balance between debt and equity financing.

Overall, the equity growth trend points to financial strengthening, but the recent decline warrants further investigation to understand its cause and potential implications on the company’s financial health.

Total capital

The total capital demonstrates a consistent upward trend from March 31, 2021, through June 30, 2025. Beginning at approximately $10.15 billion, the figure rises steadily each quarter, reaching a peak above $17.8 billion in June 30, 2025. Notably, there is a slight dip in September 30, 2025, where the total capital decreases to approximately $16.93 billion, indicating a possible shift in capital structure or asset base during that quarter. Overall, the growth trajectory suggests expanding financial resources over the period analyzed.

Total debt

Data for total debt across all reported periods is not available. The absence of values precludes analysis of leverage or debt trends.

Debt to capital ratio

Due to missing data for both total debt and the debt to capital ratio itself, no conclusions can be drawn about leverage changes or risk exposure related to debt financing throughout the timeline.

The financial data reveals a consistent upward trend in total assets over the observed periods, spanning from the first quarter of 2021 through the third quarter of 2025.

Total Assets

The total assets increased steadily from approximately 11.54 billion US dollars at the beginning of 2021 to a peak of around 20.16 billion US dollars in the second quarter of 2025. This represents a substantial growth in the company's asset base, indicating ongoing accumulation or appreciation of resources.

Notably, there was a minor decline in total assets in the third quarter of 2025 to about 19.35 billion US dollars, which could suggest a temporary reduction due to asset disposals, revaluations, or other adjustments.

Regarding debt metrics, no data is available for total debt or the debt to assets ratio throughout the periods.

Debt

The absence of reported total debt values prevents analysis of leverage or capital structure trends and limits insights into financial risk related to indebtedness.

Debt to Assets Ratio

Similarly, without data on debt relative to assets, it is not possible to evaluate changes in the company’s financial leverage or solvency conditions over time.

In summary, the dominant trend is a robust increase in total assets over nearly five years, reflecting positive growth in the company’s resource base. However, incomplete data on debt restricts a comprehensive assessment of the company's financial leverage and risk profile.

Total Assets

The total assets exhibit an overall upward trend from the first quarter of 2021 through the third quarter of 2025, starting at approximately 11.54 billion USD and increasing to just under 19.35 billion USD by the end of the observed period. While the growth is mostly consistent, there is a minor decline noted in the final quarter ending September 2025. Periodic fluctuations occur throughout the timeline but the general direction is a sustained growth in asset base.

Stockholders' Equity

Stockholders’ equity similarly trends upward from about 10.15 billion USD at the beginning of 2021 to a peak near 17.84 billion USD in the third quarter of 2024, followed by a decline towards approximately 16.93 billion USD in the third quarter of 2025. This indicates solid growth in the company’s net worth attributed to equity holders over the majority of the period, though the late-stage decrease suggests some equity reduction or increased liabilities relative to assets approaching the end of the data timeline.

Financial Leverage

The financial leverage ratio demonstrates relative stability across the quarters, oscillating narrowly around values between 1.12 and 1.17. This indicates a consistent proportional relationship between total assets and stockholders' equity, reflecting a stable capital structure without significant shifts in indebtedness or equity financing throughout the time frame.