Saturday 17 October 2026 Export ISRG’s income statement to Excel — free account

Intuitive Surgical, Inc.

ISRG Healthcare Medical Instruments & Supplies

Intuitive Surgical, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $10.1 billion, up 20.5% from fiscal 2024. In the quarter to June 2026, revenue grew 18.5%, EPS grew 25.5% and free cash flow grew 69.3%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; revenue growth for five consecutive years, operating cash flow growth for three.

426.70 1.16 −0.27%

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Market cap: $151.2B
P/E: 48.3×
Fwd P/E: 46.4×
Dividend yield: —
F-score: 7/9
Altman Z: 50.09
Beneish M: −2.43
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 57.29

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	5	6	3	5	4	1	3	4	2	5	3	—

Insider Ownership 0.93%

Capital & Financial Ratios $m

Market Cap 151,150.00

Revenue 11,034.40

Net Income 3,157.90

Free Cash Flow 3,268.60

Net Debt (5,216.20)

Current Ratio 4.96

Debt/Equity 0.00

P/E ratio 48.27

Fwd P/E 46.40

P/S ratio 13.69

P/B ratio 8.26

Past 5Y EPS Growth 21.77%

This Y EPS Growth 20.99%

Next Y EPS Growth 11.95%

Next Y revenue growth 16.79%

Next 5Y EPS Growth 15.11%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 27.09%

10-year low 10-year high

P/S against its own 10 years 26.80%

10-year low 10-year high

P/B against its own 10 years 36.64%

10-year low 10-year high

EV/Sales against its own 10 years 28.93%

10-year low 10-year high

EV/FCF against its own 10 years 22.52%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	5,223	4,013	5,935	5,216
Receivables	1,130	1,225	1,527	1,673
Inventory	1,221	1,487	1,840	2,029
Other	—	—	—	—
	7,888	7,111	9,780	9,543

	2023	2024	2025	Q'26
Payables	189	193	255	277
ST’ Debt	—	—	—	—
Other	—	—	—	—
	1,659	1,745	2,006	1,923

Compound Annual Growth %

	10y	5y	3y
Sales	15.49%	18.22%	17.39%
Cash Flow	14.16%	15.34%	26.68%
Earnings	17.11%	21.91%	29.26%
Book Value	15.30%	12.95%	17.31%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2,771	2,892	—	—	—
’25	2,253	2,440	2,505	2,866	10,065
’24	1,891	2,010	2,038	2,414	8,352
’23	1,696	1,756	1,744	1,928	7,124
’22	1,488	1,522	1,557	1,655	6,222
’21	1,292	1,464	1,403	1,551	5,710
’20	1,100	852	1,078	1,329	4,358

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	912	1,061	—	—	—
’25	582	715	841	893	3,031
’24	265	621	707	823	2,415
’23	371	666	548	228	1,814
’22	223	447	383	438	1,491
’21	478	543	501	568	2,089
’20	353	230	275	628	1,485

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	855	948	—	—	—
’25	465	560	736	730	2,491
’24	24	311	459	511	1,304
’23	177	487	292	(207)	750
’22	129	316	214	299	958
’21	419	467	433	431	1,750
’20	248	120	210	566	1,143

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	2.28	2.29	—	—	—
’25	1.92	1.81	1.95	2.21	7.87
’24	1.51	1.46	1.56	1.88	6.42
’23	1.00	1.18	1.16	1.69	5.03
’22	1.00	0.85	0.90	0.91	3.65
’21	1.17	1.42	1.04	1.04	4.66
’20	0.87	0.19	0.87	1.01	2.94

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	55.78	69.41	121.70	148.82	120.17	227.47	180.07	222.65	320.26	425.00	Analyst estimates 2026–2028 Powerpack
	High	80.81	135.02	193.71	200.53	275.60	369.69	362.00	358.07	556.23	616.00
People
People	Employees	3,755	4,444	5,527	7,326	8,081	9,793	12,120	13,676	15,638	17,021
	Revenue/emp, $m	0.72	0.71	0.67	0.61	0.54	0.58	0.51	0.52	0.53	0.59
Income, $m
Income, $m	Revenue	2,707	3,138	3,724	4,479	4,358	5,710	6,222	7,124	8,352	10,065
	Gross margin, %	69.94	70.17	69.92	69.45	65.65	69.32	67.44	66.39	67.46	66.00
	EBT	985	1,105	1,280	1,502	1,207	1,890	1,607	1,959	2,674	3,311
	EBT margin, %	36.40	35.20	34.36	33.54	27.69	33.10	25.82	27.50	32.01	32.90
	Net income	738	671	1,125	1,382	1,067	1,728	1,344	1,817	2,338	2,877
	Depreciation	102	110	133	216	293	343	392	455	500	677
Per share, $
Per share, $	Revenue	7.85	9.37	10.92	12.94	12.41	16.04	17.49	20.29	23.51	28.20
	Earnings	2.13	1.97	3.31	3.98	3.02	4.79	3.72	5.12	6.54	8.00
	Cash flow	3.15	3.41	3.43	4.62	4.23	5.87	4.19	5.16	6.80	8.49
	Capex	(0.16)	(0.57)	(0.55)	(1.23)	(0.97)	(0.95)	(1.50)	(3.03)	(3.13)	(1.51)
	Free cash flow	3.00	2.84	2.88	3.39	3.26	4.91	2.69	2.13	3.67	6.98
	Book value	16.76	14.27	19.61	23.93	27.80	33.56	31.24	38.15	46.54	50.27
	Shares, m	345	335	341	346	351	356	356	351	355	357
Valuation, ×
Valuation, ×	P/E	33.51	63.45	48.23	49.43	90.30	75.06	71.41	64.77	79.93	70.71
	P/S	9.08	13.36	14.62	15.23	21.97	22.41	15.19	16.32	22.20	20.08
	P/B	4.25	8.77	8.14	8.23	9.81	10.71	8.50	8.68	11.22	11.27
	EV/Sales	8.14	12.73	13.80	14.51	20.80	21.67	14.52	15.58	21.72	19.49
	EV/FCF	21.32	41.92	52.32	55.43	79.27	70.71	94.29	148.10	139.12	78.77
Cash, $m
Cash, $m	Operating cash flow	1,087	1,144	1,170	1,598	1,485	2,089	1,491	1,814	2,415	3,031
	Capex	(54)	(191)	(187)	(426)	(341)	(339)	(532)	(1,064)	(1,111)	(540)
	Free cash flow	1,033	953	982	1,173	1,143	1,750	958	750	1,304	2,491
Balance, $m
Balance, $m	Working capital	2,654	2,146	3,513	3,632	5,661	4,695	4,831	6,229	5,366	7,773
	Total debt	—	—	—	77	80	87	94	—	—	—
	Net debt	(2,555)	(1,961)	(3,063)	(3,222)	(5,111)	(4,204)	(4,118)	(5,223)	(4,013)	(5,935)
	Shareholders’ equity	5,778	4,780	6,688	8,285	9,759	11,952	11,113	13,397	16,530	17,942
Returns, %
Returns, %	ROA	12.96	10.94	16.56	15.69	10.15	13.79	9.97	12.66	13.59	14.57
	ROIC	18.42	23.56	20.68	16.97	14.12	14.69	14.09	13.51	11.73	15.33
	ROE	14.62	12.71	19.67	18.42	11.76	15.70	11.47	14.67	15.52	16.57

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ISRG Intuitive Surgical, Inc.	$151.2B	48.3×	46.4×	+18.54% (above 0%: growing)	+25.54% (above 0%: growing)	+69.33% (above 0%: growing)	67.78%	33.60%
BDX Becton, Dickinson and Company	$52.8B	57.8×	37.7×	+5.44% (above 0%: growing)	−31.50% (below 0%: shrinking)	−31.57% (below 0%: shrinking)	46.46%	13.31%	Compare
MDLN Medline Inc.	$48.1B	—	—	+15.67% (above 0%: growing)	—	+3.42% (above 0%: growing)	28.82%	5.14%	Compare
RMD ResMed Inc.	$34.1B	22.8×	16.6×	+8.58% (above 0%: growing)	+2.32% (above 0%: growing)	−21.31% (below 0%: shrinking)	58.84%	30.66%	Compare
ALC Alcon	$32.1B	50.5×	31.0×	+8.74% (above 0%: growing)	n/m	−0.54% (below 0%: shrinking)	59.33%	0.39%	Compare
WST West Pharmaceutical Services, Inc.	$27.0B	48.7×	37.3×	+13.80% (above 0%: growing)	+19.23% (above 0%: growing)	−20.71% (below 0%: shrinking)	37.74%	20.53%	Compare
SOLV Solventum Corporation	$15.0B	10.4×	39.0×	+2.22% (above 0%: growing)	+1.92% (above 0%: growing)	+144.07% (above 0%: growing)	58.22%	8.19%	Compare
BAX Baxter International Inc.	$13.3B	— (loss-making)	44.7×	+5.34% (above 0%: growing)	+33.33% (above 0%: growing)	+119.48% (above 0%: growing)	34.86%	7.33%	Compare
RGEN Repligen Corporation	$11.7B	234×	112×	+11.93% (above 0%: growing)	−65.38% (below 0%: shrinking)	+27.10% (above 0%: growing)	53.91%	6.85%	Compare
Median of peers	$29.5B	49.6×	37.7×	+8.66%	+2.12%	+1.44%	50.19%	7.76%

All 55 Medical Instruments & Supplies stocks →

Intuitive Surgical, Inc. (ISRG) key facts

Strength: Intuitive Surgical, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $10.1 billion, up 20.5% from fiscal 2024.
Strength: Net income was $2.9 billion, or $8.00 per share (basic), a net margin of 28.4%.
Intuitive Surgical, Inc. (ISRG) is a Medical Instruments & Supplies company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, ISRG traded at $426.70, a market capitalization of $151.2 billion.
At that price the stock trades at 48.3× trailing-twelve-month earnings and 13.7× sales; its P/E is higher than 27% of its own readings over the past ten years.
Return on equity was 16.6% and debt-to-equity 0.00.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 50.09 (safe zone) for fiscal 2025.