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Friday 6 November 2026
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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.
- Revenue
- +21.7%
- EPS
- −24.2%
- Free cash flow
- +51.0%
Quarter to September 2026, against a year earlier
455.26
13.26
−2.83%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
70.71 | 79.93 | 64.77 | 71.41 | 75.06 | 90.30 | 49.43 | 48.23 | 63.45 | 33.51 |
Piotroski F-Score |
7 | 6 | 8 | 6 | 7 | 5 | 4 | 7 | 7 | 6 |
Altman Z-Score |
50.09 | 51.96 | 36.53 | 32.13 | 49.65 | 42.47 | 29.99 | 29.97 | 26.17 | 22.28 |
P/S ratio |
20.08 | 22.20 | 16.32 | 15.19 | 22.41 | 21.97 | 15.23 | 14.62 | 13.36 | 9.08 |
P/FCF ratio |
81.16 | 142.20 | 155.07 | 98.59 | 73.12 | 83.74 | 58.18 | 55.44 | 43.97 | 23.79 |
Altman Z″-Score (non-manufacturers) |
12.06 | 11.74 | 11.30 | 10.41 | 12.15 | 12.18 | 10.24 | 10.65 | 8.78 | 13.01 |
Beneish M-Score |
(2.43) | (2.17) | (2.35) | (2.53) | (2.15) | (2.71) | (2.55) | (2.25) | (2.78) | (2.66) |
P/Operating CF |
226.48 | 225.38 | 509.16 | 215.77 | 225.38 | 152.58 | 123.43 | 161.06 | 126.25 | 74.55 |
P/B ratio |
11.27 | 11.22 | 8.68 | 8.50 | 10.71 | 9.81 | 8.23 | 8.14 | 8.77 | 4.25 |
Price to Tangible BV |
12.09 | 12.03 | 9.37 | 9.40 | 11.66 | 10.74 | 9.05 | 8.80 | 9.56 | 4.41 |
EV/Sales |
19.49 | 21.72 | 15.58 | 14.52 | 21.67 | 20.80 | 14.51 | 13.80 | 12.73 | 8.14 |
EV/EBITDA |
54.16 | 63.68 | 49.97 | 45.88 | 57.19 | 67.48 | 40.86 | 38.56 | 34.06 | 20.94 |
EV/Operating CF |
64.74 | 75.11 | 61.21 | 60.62 | 59.22 | 61.04 | 40.67 | 43.94 | 34.93 | 20.26 |
EV/FCF |
78.77 | 139.12 | 148.10 | 94.29 | 70.71 | 79.27 | 55.43 | 52.32 | 41.92 | 21.32 |
Quick Ratio |
3.72 | 3.00 | 3.83 | 3.56 | 4.34 | 5.96 | 3.75 | 4.56 | 3.72 | 5.00 |
Current Ratio |
4.87 | 4.07 | 4.76 | 4.40 | 5.08 | 6.86 | 4.53 | 5.28 | 4.24 | 5.45 |
Net Debt/EBITDA |
(1.64) | (1.41) | (2.35) | (2.09) | (1.94) | (3.81) | (2.03) | (2.30) | (1.67) | (2.43) |
Debt/Assets |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Debt/Equity |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Asset Turnover |
0.51 | 0.49 | 0.50 | 0.47 | 0.46 | 0.42 | 0.51 | 0.55 | 0.51 | 0.48 |
Operating CF/Net income |
1.06 | 1.04 | 1.01 | 1.13 | 1.23 | 1.40 | 1.16 | 1.04 | 1.71 | 1.47 |
Capex/Depreciation |
(0.80) | (2.22) | (2.34) | (1.36) | (0.99) | (1.16) | (1.97) | (1.40) | (1.73) | (0.53) |
| 16.57% | 15.52% | 14.67% | 11.47% | 15.70% | 11.76% | 18.42% | 19.67% | 12.71% | 14.62% | |
| 14.57% | 13.59% | 12.66% | 9.97% | 13.79% | 10.15% | 15.69% | 16.56% | 10.94% | 12.96% | |
ROIC |
15.33% | 11.73% | 13.51% | 14.09% | 14.69% | 14.12% | 16.97% | 20.68% | 23.56% | 18.42% |
Return on Tangible Assets |
21.78% | 23.20% | 18.41% | 18.35% | 25.94% | 14.65% | 28.12% | 26.08% | 24.32% | 23.72% |
Average Days of Receivables |
55.39 | 53.55 | 57.91 | 55.26 | 50.03 | 54.06 | 52.58 | 66.87 | 59.07 | 58.02 |
Research and Development Expense of Revenue |
13.03% | 13.71% | 14.02% | 14.13% | 11.75% | 13.65% | 12.44% | 11.23% | 10.47% | 8.85% |
Selling, General and Administrative Expense of Revenue |
23.70% | 25.62% | 27.57% | 27.96% | 25.68% | 27.91% | 26.31% | 26.49% | 25.83% | 26.00% |
Intangible Assets out of Total Assets |
0.06 | 0.06 | 0.06 | 0.08 | 0.07 | 0.08 | 0.08 | 0.06 | 0.07 | 0.03 |
Share Based Compensation of Revenue |
7.83% | 8.10% | 8.32% | 8.25% | 7.87% | 9.07% | 7.50% | 7.01% | 6.66% | 6.56% |
Graham Net Nets |
0.04 | 0.03 | 0.05 | 0.05 | 0.03 | 0.05 | 0.05 | 0.06 | 0.04 | 0.10 |
Graham Number |
95.18 | 82.69 | 66.23 | 51.14 | 60.12 | 43.46 | 46.33 | 38.21 | 25.15 | 28.33 |
Earnings Yield |
1.41% | 1.25% | 1.54% | 1.40% | 1.33% | 1.11% | 2.02% | 2.07% | 1.58% | 2.98% |
Free Cash Flow Yield |
1.23% | 0.70% | 0.64% | 1.01% | 1.37% | 1.19% | 1.72% | 1.80% | 2.27% | 4.20% |
Revenue per Share |
28.20 | 23.51 | 20.29 | 17.49 | 16.04 | 12.41 | 12.94 | 10.92 | 9.37 | 7.85 |
Operating CF per Share |
8.49 | 6.80 | 5.16 | 4.19 | 5.87 | 4.23 | 4.62 | 3.43 | 3.41 | 3.15 |
Capex per Share |
(1.51) | (3.13) | (3.03) | (1.50) | (0.95) | (0.97) | (1.23) | (0.55) | (0.57) | (0.16) |
Free Cash Flow per Share |
6.98 | 3.67 | 2.13 | 2.69 | 4.91 | 3.26 | 3.39 | 2.88 | 2.84 | 3.00 |
Cash per Share |
16.63 | 11.30 | 14.87 | 11.58 | 11.81 | 14.56 | 9.31 | 8.98 | 5.85 | 7.41 |
Shareholders Equity per Share |
50.27 | 46.54 | 38.15 | 31.24 | 33.56 | 27.80 | 23.93 | 19.61 | 14.27 | 16.76 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
50.27 | 46.54 | 38.15 | 31.24 | 33.56 | 27.80 | 23.93 | 19.61 | 14.27 | 16.76 |
Free Cash Flow |
2,490.70 | 1,303.80 | 749.60 | 958.40 | 1,749.90 | 1,143.30 | 1,172.60 | 982.20 | 953.20 | 1,033.10 |
Working Capital |
7,773.30 | 5,365.70 | 6,229.30 | 4,830.90 | 4,695.10 | 5,660.70 | 3,632.40 | 3,512.60 | 2,146.10 | 2,653.90 |
Capital Expenditures |
(539.80) | (1,111.20) | (1,064.20) | (532.40) | (339.50) | (341.50) | (425.60) | (187.40) | (190.70) | (53.90) |
Net Current Asset Value |
7,262.50 | 4,897.40 | 5,843.80 | 4,391.60 | 4,241.40 | 5,216.10 | 3,214.10 | 3,174.00 | 1,812.50 | 2,541.30 |
EV/EBIT |
66.61 | 77.22 | 62.84 | 57.30 | 67.95 | 86.33 | 47.29 | 42.85 | 37.59 | 23.19 |
Capex to Sales |
0.05 | 0.13 | 0.15 | 0.09 | 0.06 | 0.08 | 0.10 | 0.05 | 0.06 | 0.02 |
Price to Operating Income |
68.62 | 78.93 | 65.79 | 59.91 | 70.26 | 91.20 | 49.63 | 45.40 | 39.43 | 25.88 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.13 | 0.11 | 0.13 | 0.17 | 0.18 | 0.19 | 0.17 | 0.16 | 0.18 | 0.22 |
Cash ROIC |
10.43% | 6.35% | 4.03% | 6.29% | 10.83% | 7.69% | 10.19% | 10.07% | 14.14% | 12.40% |
Accounts Receivable Turnover |
7.31 | 7.09 | 6.88 | 7.22 | 8.00 | 6.75 | 6.75 | 6.26 | 6.69 | 6.57 |
Accounts Payable Turnover |
15.26 | 14.23 | 14.27 | 15.11 | 17.27 | 14.60 | 12.21 | 12.23 | 12.40 | 13.44 |
Inventory Turnover |
2.06 | 2.01 | 2.27 | 2.74 | 2.95 | 2.50 | 2.72 | 3.45 | 4.42 | 4.65 |
Average Days of Payables |
27.21 | 25.97 | 28.76 | 26.48 | 25.26 | 19.89 | 32.94 | 32.81 | 32.16 | 30.73 |
Days of Inventory on Hand |
196.24 | 199.72 | 186.05 | 160.90 | 122.34 | 146.64 | 158.85 | 133.28 | 94.04 | 81.78 |
Average Receivables |
1,376.35 | 1,177.80 | 1,036.15 | 862.40 | 714.10 | 645.35 | 663.75 | 595.10 | 469.05 | 412.25 |
Average Payables |
224.25 | 191.05 | 167.85 | 134.10 | 101.40 | 102.55 | 112.10 | 91.60 | 75.50 | 60.55 |
Average Inventory |
1,663.60 | 1,353.90 | 1,056.90 | 740.15 | 594.30 | 598.50 | 502.25 | 325.10 | 211.75 | 175.10 |
Average Assets |
19,600.95 | 17,092.35 | 14,207.75 | 13,264.50 | 12,361.95 | 10,451.05 | 8,789.95 | 6,811.75 | 6,131.85 | 5,697.10 |
Average Common Equity |
17,235.65 | 14,963.45 | 12,254.95 | 11,532.05 | 10,855.30 | 9,021.90 | 7,486.10 | 5,733.95 | 5,279.10 | 5,048.65 |
Columns are period end dates · fundamentals updated 2 Nov 2026