INTUITIVE SURGICAL INC（ISRG）の決算・業績分析
INTUITIVE SURGICAL INCの2025年有価証券報告書をAI分析。売上高$10.1B(+20.5%)。営業利益$2.9B。Health Care。
目次
INTUITIVE SURGICAL INCの2025年度 業績サマリー
INTUITIVE SURGICAL INC（証券コード: ISRG）の2025年度決算・業績分析。売上高は$10.1B（前年比+20.5%）。営業利益は$2.9B（前年比+25.4%）。純利益は$2.9B（前年比+23.0%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
INTUITIVE SURGICAL INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 9.0% YoY to $6.2B (XBRL), driven by new product launches like da Vinci SP and da Vinci 5 systems (10-K).
- Net income declined 22.4% YoY to $1.3B (XBRL), despite strong operating cash flow of $1.5B (XBRL).
- Free cash flow reached $2.9B (XBRL), with $2.6B returned to shareholders via share repurchases (XBRL).
- Liquidity remains robust with $2.8B in cash (XBRL) and a 4.76x current ratio (XBRL).
- Gross margin held at 67.4% (XBRL), but operating margin fell to 25.4% (XBRL) from prior year.
INTUITIVE SURGICAL INCの売上高変化の要因
- •Total revenue reached $6.2B in FY2024, reflecting a 9.0% YoY increase (XBRL). Growth was driven by the launch of the da Vinci SP and da Vinci 5 systems, which expanded procedural indications and geographic reach (10-K). Historical time series data shows consistent revenue growth over five years, with a 13.9% CAGR (XBRL). Segment-specific revenue figures are not disclosed in the XBRL data (XBRL).
INTUITIVE SURGICAL INCの営業利益変化の要因
- •Gross profit was $4.2B with a gross margin of 67.4% (XBRL). Operating income declined 13.4% YoY to $1.6B (XBRL), while net income fell 22.4% YoY to $1.3B (XBRL). Operating margin decreased to 25.4% (XBRL) from prior year, though gross margin remained stable. Net margin was 21.2% (XBRL). Specific cost structure changes are not quantified in the data (XBRL).
INTUITIVE SURGICAL INCの事業リスクと対応
Intense competition from established and emerging companies could reduce revenue and market share (10-K).
Operations outside the U.S. face risks from weaker IP protection and evolving regulatory requirements (10-K).
Technological advances by competitors may render Intuitive’s products obsolete (10-K).
Third-party service providers may compete on price or offerings, impacting revenue (10-K).
Market adoption of alternative treatments (e.g., weight loss drugs) could reduce demand for robotic-assisted procedures (10-K).
INTUITIVE SURGICAL INCの今後の見通し・業績予想
INTUITIVE SURGICAL INCの事業内容
Intuitive Surgical Inc (ISRG) develops and sells robotic-assisted surgical systems, instruments, and related services, generating revenue through product sales (e.g., da Vinci systems), accessories, and customer support (XBRL). Key products include da Vinci surgical systems for minimally invasive procedures, Ion endoluminal systems for diagnostic biopsies, and a digital portfolio for actionable insights (10-K). The company operates in a competitive landscape with no specific competitors named in the 10-K, relying on technological differentiation and clinical validation as key advantages (10-K). Customers include hospitals, healthcare systems, and patient advocacy groups, with no significant concentration reported (10-K).
INTUITIVE SURGICAL INCのAI業績分析レポート（2024年度）
Highlights
Business Overview
Intuitive Surgical Inc (ISRG) develops and sells robotic-assisted surgical systems, instruments, and related services, generating revenue through product sales (e.g., da Vinci systems), accessories, and customer support (XBRL). Key products include da Vinci surgical systems for minimally invasive procedures, Ion endoluminal systems for diagnostic biopsies, and a digital portfolio for actionable insights (10-K). The company operates in a competitive landscape with no specific competitors named in the 10-K, relying on technological differentiation and clinical validation as key advantages (10-K). Customers include hospitals, healthcare systems, and patient advocacy groups, with no significant concentration reported (10-K).
Revenue Analysis
Total revenue reached $6.2B in FY2024, reflecting a 9.0% YoY increase (XBRL). Growth was driven by the launch of the da Vinci SP and da Vinci 5 systems, which expanded procedural indications and geographic reach (10-K). Historical time series data shows consistent revenue growth over five years, with a 13.9% CAGR (XBRL). Segment-specific revenue figures are not disclosed in the XBRL data (XBRL).
Profitability Analysis
Gross profit was $4.2B with a gross margin of 67.4% (XBRL). Operating income declined 13.4% YoY to $1.6B (XBRL), while net income fell 22.4% YoY to $1.3B (XBRL). Operating margin decreased to 25.4% (XBRL) from prior year, though gross margin remained stable. Net margin was 21.2% (XBRL). Specific cost structure changes are not quantified in the data (XBRL).
Balance Sheet Analysis
Equity ratio was 86.2% (XBRL), with total equity of $13.3B (XBRL) and total assets of $15.4B (XBRL). Debt-to-equity ratio was 0.15x (XBRL), indicating low leverage. Liquidity was strong with $2.8B in cash (XBRL) and a current ratio of 4.76x (XBRL). No segment or geographic breakdown of assets is available (XBRL).
Cash Flow Analysis
Operating cash flow was $1.5B (XBRL), higher than net income of $1.3B (XBRL). Free cash flow reached $2.9B (XBRL), driven by $1.4B in investing cash flow (XBRL) and $2.6B in share repurchases (XBRL). No dividends were mentioned in the data (XBRL).
Working Capital Analysis
Cash conversion cycle (CCC) was 252 days (XBRL), with receivables days at 66 days (XBRL), inventory days at 220 days (XBRL), and payables days at 34 days (XBRL).
Risks
Outlook
Management expects continued expansion of the da Vinci SP and da Vinci 5 systems, regulatory approvals in new markets, and a focus on improving clinical outcomes (10-K). No specific financial guidance is quantified in the data (XBRL).
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