Intuitive Surgical Inc (ISRG)

Receivables turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	7,616,100	7,306,600	7,073,300	6,797,300	6,548,300	6,326,000	6,171,000	6,121,000	5,900,400	5,678,800	5,338,700	4,705,300	4,491,300	4,439,900	4,466,200	4,687,300	4,531,000	4,299,800	4,065,100	3,850,400
Receivables	US$ in thousands	1,130,200	962,700	904,200	925,300	942,100	849,600	838,500	906,100	782,700	695,000	699,900	654,300	645,500	588,600	508,800	527,600	645,200	639,000	633,400	547,600
Receivables turnover		6.74	7.59	7.82	7.35	6.95	7.45	7.36	6.76	7.54	8.17	7.63	7.19	6.96	7.54	8.78	8.88	7.02	6.73	6.42	7.03

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $7,616,100K ÷ $1,130,200K
= 6.74

Intuitive Surgical Inc's receivables turnover ratio has shown some fluctuation over the past eight quarters. The ratio ranged from a low of 6.30 in Q4 2023 to a high of 7.37 in Q2 2023. Generally, the company's receivables turnover has been within a relatively narrow range between 6.52 and 7.37, indicating a consistent ability to collect outstanding receivables in a timely manner.

The overall trend suggests that Intuitive Surgical Inc has been efficient in converting its accounts receivable into cash over the period under review. A higher receivables turnover ratio indicates a shorter time span for collecting outstanding payments, which is generally viewed positively as it reflects effective credit and collection policies. The consistency in the company's receivables turnover ratio further indicates stability and efficiency in managing its accounts receivable.

It is important for stakeholders to continue monitoring this ratio over time to ensure the company maintains its ability to efficiently collect receivables and manage its working capital effectively.