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Filing Flows › Industries › Orthopedic, Prosthetic & Surgical Appliances & Supplies › Capital spending and supply chain

Orthopedic, Prosthetic & Surgical Appliances & Supplies: capital spending and supply chain

SIC 3842 · 20 companies with filed cash-flow statements

Capital spending, 12 months$1.8B
Operating cash flow$10.3B
Capex / cash flow17%
Capex / revenue4.2%
Top 3 share63%

Analysis

20 companies in Orthopedic, Prosthetic & Surgical Appliances & Supplies (SIC 3842) spent $1.8B on capital projects over their latest twelve months, 17% of the $10.3B their operations generated; the three largest spenders — ISRG, STE, EW — account for 63%.

Capital spending is 4.2% of the industry's $43.3B of annual revenue.

By the industry's asset mix most of it goes to equipment (51%); about $239M is imported.

The largest supplier of that spending is manufacturing structures ($207M).

Its largest supplying industries, by the input-output tables: imports ($1.8B), professional and commercial equipment and supplies ($896M), plastics packaging materials and unlaminated film and sheet manufacturing ($571M).

Charts

Orthopedic, Prosthetic & Surgical Appliances & Supplies: capital spending by company, latest twelve monthsOrthopedic, Prosthetic & Surgical Appliances & Supplies: capital spending by company, latest twelve monthsISRG$492MSTE$352MEW$293MZBH$241MENOV$189MALGN$147MMSA$53.7MCDRE$12.5MESTA$8.2MINGN$2.5MAVR$2.0MMYO$1.2M
Filed cash-flow statements (SEC XBRL).
Orthopedic, Prosthetic & Surgical Appliances & Supplies: what the capital spending buys (US part)Orthopedic, Prosthetic & Surgical Appliances & Supplies: what the capital spending buys (US part)Structures$221MEquipment$470MSoftware$183MOther$56.6M
Capital spending × the industry’s asset mix (BEA fixed assets): grade C, an industry average applied to filed figures.
Orthopedic, Prosthetic & Surgical Appliances & Supplies: the industries that build and sell what it buysOrthopedic, Prosthetic & Surgical Appliances & Supplies: the industries that build and sell what it buysManufacturing structures$207MSoftware publishers$98.8MElectromedical and electrotherape…$97.9MOther industrial machinery manufa…$65.2MComputer systems design services$40.7MCustom computer programming servi…$36.3MMaterial handling equipment manuf…$29.0MSurgical and medical instrument m…$27.4MAir conditioning, refrigeration, …$26.8MIrradiation apparatus manufacturi…$24.1M
BEA fixed assets: investment by asset type → supplying industry. Estimates (grade C).
Orthopedic, Prosthetic & Surgical Appliances & Supplies: its first-tier supplying industriesOrthopedic, Prosthetic & Surgical Appliances & Supplies: its first-tier supplying industriesImports$1.8BProfessional and commercial equip…$896MPlastics packaging materials and …$571MManagement of companies and enter…$506MOther nondurable goods merchant w…$341MFabric mills$331MSurgical appliance and supplies m…$300MPaperboard container manufacturing$288MCustom roll forming$240MLegal services$238M
Purchased inputs × the industry’s input mix (BEA Use table), US part: grade C.
Orthopedic, Prosthetic & Surgical Appliances & Supplies: where the industry's cash came from (+) and went (−)Orthopedic, Prosthetic & Surgical Appliances & Supplies: where the industry's cash came from (+) and went (−)Operating cash flow$10.5BBuybacks−$7.0BOther investing (in)$1.8BCapital spending−$1.8BOther investing (out)−$1.7BAcquisitions−$1.3BCash added to the balance she…−$1.2BOther financing (out)−$1.2BCash drawn from the balance s…$1.0BNet borrowing$987MShares issued$677MDividends−$539MTaxes paid on employees' shar…−$482MOther financing (in)$385M
The companies’ cash-flow statements, latest four quarters or fiscal year: every figure filed (grade A).

Capital spending by company

CompanyCapital spendingOperating cash flowCapex / OCFPeriod
ISRG Intuitive Surgical$492M$4.1B12%TTM to Q3 2026
STE Steris$352M$1.3B27%TTM to Q2 FY27
EW Edwards Lifesciences$293M$1.7B17%TTM to Q3 2026
ZBH Zimmer Biomet Holdings$241M$1.9B13%TTM to Q3 2026
ENOV Enovis$189M$259M73%TTM to Q3 2026
ALGN Align Technology$147M$750M20%TTM to Q3 2026
MSA MSA Safety$53.7M$376M14%TTM to Q3 2026
CDRE Cadre Holdings$12.5M$88.8M14%TTM to Q3 2026
ESTA Establishment Labs Holdings$8.2M−$13.4M—TTM to Q3 2026
INGN Inogen$2.5M−$2.5M—TTM to Q2 2026
AVR Anteris Technologies Global$2.0M−$86.3M—TTM to Q2 2026
MYO Myomo$1.2M−$7.1M—TTM to Q2 2026
SMTI Sanara MedTech$1.2M$5.7M21%TTM to Q2 2026
APT Alpha Pro Tech$625K$6.5M10%TTM to Q2 2026
COCH Envoy Medical$205K−$22.2M—TTM to Q3 2026
LGMK LogicMark$128K−$4.0M—TTM to Q2 2026
FEED ENvue Medical$95K−$11.6M—TTM to Q2 2026
LFWD Lifeward$19K−$17.1M—TTM to Q2 2026
MLSS Milestone Scientific$15K−$643K—TTM to Q2 2026
LAKE Lakeland Industries−$25K−$693K—TTM to Q2 FY27

Customers and suppliers named in annual reports

SupplierCustomerShare of supplier revenueEvidenceSource
INGNMedicare & Medicaid68%Stated in 10-K (sentence)filing
UFPTISRG22%Stated in 10-K (sentence)filing
MYOMedicare & Medicaid54%Stated in 10-K (sentence)filing
NDAQFEED—Stated in 10-K (named, share not stated)filing
UPSALGN—Stated in 10-K (named, share not stated)filing
AVTRESTA—Stated in 10-K (named, share not stated)filing

The interactive money flow: switch views, follow each dollar →

Evidence grades: A filed figure · B computed from filed figures · C industry average (BEA input-output and fixed-asset tables) applied to filed figures. Estimates are not the companies’ own records. Not investment advice.