Intuitive Surgical Inc (ISRG)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	1,766,800	1,577,100	1,821,000	1,049,800	1,374,500
Total assets	US$ in thousands	15,441,500	12,974,000	13,555,000	11,168,900	9,733,200
Operating ROA		11.44%	12.16%	13.43%	9.40%	14.12%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $1,766,800K ÷ $15,441,500K
= 11.44%

Intuitive Surgical Inc's operating return on assets (operating ROA) has shown fluctuations over the past five years. The operating ROA decreased from 14.12% in 2019 to 9.40% in 2020, reflecting a decline in the company's operational efficiency in generating profits from its assets. However, the operating ROA rebounded in the following years, reaching 13.43% in 2021 and 12.16% in 2022, indicating an improvement in the company's ability to generate profits from its operational assets.

In 2023, the operating ROA further declined to 11.44%, suggesting a slight decrease in the company's efficiency in utilizing its operational assets to generate returns. Overall, while Intuitive Surgical Inc has demonstrated fluctuations in its operating ROA, the company has maintained a relatively strong performance in terms of generating profits from its operating assets over the analyzed period.