I 
Intuitive Surgical ISRG · USD
Health Care · Health Care Equipment & Supplies · US listing · 🇺🇸 United States
S&P 500Nasdaq-100
460.56
+1.71%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$10.06bn
FY2016FY2025
Net income
$2.86bn
FY2016FY2025
Free cash flow
$2.49bn
FY2016FY2025
Shareholders' equity
$17.82bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.06bn | $8.35bn | $7.12bn | $6.22bn | $5.71bn | $4.36bn | $4.48bn | $3.72bn | $3.13bn | $2.70bn |
| Gross profit | $6.64bn | $5.63bn | $4.73bn | $4.20bn | $3.96bn | $2.86bn | $3.11bn | $2.60bn | $2.19bn | $1.89bn |
| Research and development | $1.31bn | $1.15bn | $998.8m | $879.0m | $671.0m | $595.1m | $557.3m | $418.1m | $328.6m | $239.6m |
| Operating income | $2.95bn | $2.35bn | $1.77bn | $1.58bn | $1.82bn | $1.05bn | $1.37bn | $1.20bn | $1.05bn | $945.2m |
| Net income | $2.86bn | $2.32bn | $1.80bn | $1.32bn | $1.70bn | $1.06bn | $1.38bn | $1.13bn | $660.0m | $735.9m |
| Diluted earnings per share | 7.92 | 6.38 | 5.02 | 3.70 | 4.64 | 2.92 | 3.84 | 3.27 | 1.96 | 2.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $20.63bn | $18.84bn | $15.44bn | $12.97bn | $13.55bn | $11.17bn | $9.73bn | $7.85bn | $5.76bn | $6.49bn |
| Cash and short-term investments | $5.93bn | $4.01bn | $5.22bn | $4.12bn | $4.23bn | $5.17bn | $5.85bn | $3.06bn | $3.85bn | $4.84bn |
| Total liabilities | $2.69bn | $2.31bn | $2.04bn | $1.86bn | $1.60bn | $1.41bn | $1.45bn | $1.16bn | $1.03bn | $709.1m |
| Shareholders' equity | $17.82bn | $16.43bn | $13.31bn | $11.04bn | $11.95bn | $9.76bn | $8.28bn | $6.68bn | $4.73bn | $5.78bn |
| Shares outstanding | 360m | 364m | 358m | 357m | 367m | 363m | 359m | 345m | 337m | 358m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $3.03bn | $2.42bn | $1.81bn | $1.49bn | $2.09bn | $1.48bn | $1.60bn | $1.17bn | $1.14bn | $1.04bn |
| Capital spending | −$539.8m | −$1.11bn | −$1.06bn | −$532.4m | −$353.5m | −$341.5m | −$425.6m | −$187.4m | −$190.7m | −$53.9m |
| Free cash flow | $2.49bn | $1.30bn | $749.6m | $958.4m | $1.74bn | $1.14bn | $1.17bn | $982.2m | $953.2m | $989.0m |
| Dividends paid | — | −$8.0m | — | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.89bn | $2.77bn | $2.87bn | $2.51bn | $2.44bn | $2.25bn | $2.41bn | $2.04bn |
| Gross profit | $1.96bn | $1.83bn | $1.90bn | $1.66bn | $1.62bn | $1.46bn | $1.64bn | $1.37bn |
| Operating income | $971.9m | $855.3m | $864.3m | $759.7m | $743.4m | $578.1m | $734.9m | $577.3m |
| Net income | $818.1m | $821.5m | $794.8m | $704.4m | $658.4m | $698.4m | $685.7m | $565.1m |
| Diluted earnings per share | 2.28 | 2.29 | 2.21 | 1.95 | 1.83 | 1.94 | 1.88 | 1.55 |
| Cash from operations | $1.06bn | $911.0m | $892.0m | $841.0m | $715.0m | $581.0m | $822.0m | $706.0m |
| Capital spending | −$112.0m | −$103.0m | −$162.0m | −$105.0m | −$155.0m | −$116.0m | −$312.0m | −$247.0m |
| Free cash flow | $949.0m | $808.0m | $730.0m | $736.0m | $560.0m | $465.0m | $510.0m | $459.0m |
| Total assets | $20.88bn | $20.11bn | $20.63bn | $19.35bn | $20.16bn | $19.22bn | $18.84bn | $17.74bn |
| Cash and short-term investments | $5.22bn | $4.55bn | $5.93bn | $4.91bn | $5.33bn | $4.51bn | $4.01bn | $4.23bn |
| Debt | — | — | $39.0m | — | — | — | $33.5m | $654.6m |
| Shareholders' equity | $18.17bn | $17.47bn | $17.82bn | $16.93bn | $17.85bn | $17.11bn | $16.43bn | $15.58bn |
Financial ratios
Data as of 6 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2012 | FY2005 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 66.0% | 67.5% | 66.4% | 67.4% | 69.3% | 65.6% | — | — | — |
| Operating margin | 29.3% | 28.1% | 24.8% | 25.3% | 31.9% | 24.1% | — | — | — |
| Net margin | 28.4% | 27.8% | 25.2% | 21.3% | 29.9% | 24.3% | — | — | — |
| Return on equity | 16.0% | 14.1% | 13.5% | 12.0% | 14.3% | 10.9% | — | — | — |
| Return on assets | 13.8% | 12.3% | 11.6% | 10.2% | 12.6% | 9.5% | — | — | — |
| Free cash flow yield | 2.7% | 2.6% | 2.2% | 1.5% | 1.8% | 1.4% | — | — | — |
| Revenue growth | 20.5% | 17.2% | 14.5% | 9.0% | 31.0% | -2.7% | — | — | — |
| Earnings growth | 23.0% | 29.2% | 36.0% | -22.4% | 60.7% | -23.1% | — | — | — |
| Current ratio | 4.87x | 4.07x | 4.76x | 4.40x | 5.08x | 6.86x | — | — | — |
| Debt to equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | — | — | — |
| Equity ratio | 86.4% | 87.2% | 86.2% | 85.1% | 88.2% | 87.4% | — | — | — |
| Interest coverage | — | — | — | 53.10x | 5.12x | 2.46x | 4.19x | 55.58x | 4045.41x |
| R&D as a share of sales | 13.0% | 13.7% | 14.0% | 14.1% | 11.8% | 13.7% | — | — | — |
| Buybacks as a share of market value | 1.0% | -1.6% | -0.3% | 2.8% | -1.1% | -1.2% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 17.4% | 18.2% | 15.5% |
| Operating income | 23.1% | 22.9% | 14.8% |
| Net income | 29.3% | 21.9% | 17.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 66.7% | 66.8% | 67.0% | 67.6% |
| Operating margin | 28.7% | 27.2% | 27.5% | 28.9% |
| Net margin | 28.1% | 26.1% | 26.4% | 26.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 71.5 | 81.8 | 67.2 | 71.6 | 77.4 | 93.4 | 51.3 | 48.8 | 62.0 | 34.3 |
| Price to sales | 20.3 | 22.7 | 17.0 | 15.2 | 23.1 | 22.7 | 15.8 | 14.8 | 13.1 | 9.3 |
Market value over time
31 Oct 2016 to 4 Sept 2026, in USD
$26.66bn$131.46bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 7% | 57% | 29% | -21% | 26% | 33% | 29% | 25% | 74% | 250% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 3-for-1 split · 5 Oct 2021
- 3-for-1 split · 6 Oct 2017
- 2-to-1 reverse split · 1 Jul 2003
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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