Intuitive Surgical (ISRG) stock
Health Care · Health Care Equipment
Intuitive Surgical (ISRG) is a Health Care Equipment company in the Health Care sector, headquartered in Sunnyvale, California. As of October 23, 2026, ISRG closed at $452.29, a market capitalization of $159.78 billion, the 77th largest company in the S&P 500. Over the last twelve months it generated $11.58 billion in revenue (+22% year over year) and $3.22 billion in free cash flow. The stock trades at 54.7x trailing earnings and 36.4x forward earnings.
- 1-year total return: -18.0% (dividends reinvested)
- 5-year return: +5.8% a year
- 52-week range: $328.57 – $603.88
- Gross margin 66.6%, operating margin 33.3%
- FI Handbook report card: B across 10 metrics
- 12th largest of 60 Health Care stocks in the S&P 500
ISRG price chart
1Y price change: -18.0% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| ISRG | +13.6% | -20.1% | -18.0% | +18.4% | +5.8% | +19.6% | +22.8% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2000.
ISRG key statistics
- Market cap
- $159.8B
- #77 in S&P 500
- P/E (TTM)
- 54.7x
- Forward P/E
- 36.4x
- EPS (TTM)
- $8.27
- Revenue (TTM)
- $11.6B
- +22%
- Free cash flow
- $3.2B
- Gross margin
- 66.6%
- Operating margin
- 33.3%
- Return on equity
- 17.9%
- Dividend yield
- None
- 52-week range
- $328.57 – $603.88
- Beta
- 1.46
- Price / sales
- 13.8x
- EV / EBITDA
- 34.2x
- Debt / equity
- —
- Employees
- 17,021
ISRG report card
BTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth21.7%A
- Gross margin66.6%A
- Operating margin33.3%A
- FCF margin27.8%A
- Return on equity17.9%B
- Net debt / EBITDA-0.9xA
- Forward P/E36.4xD
- PEG ratio1.9xC
- Shareholder yield1.4%D
- Share count change / yr0.1%C
Intuitive Surgical financials
Revenue went from $2.7B in fiscal 2016 to $10.1B in fiscal 2025, growing 15.7% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.7B | $3.1B | $3.7B | $4.5B | $4.4B | $5.7B | $6.2B | $7.1B | $8.4B | $10.1B |
| Gross profit | $1.9B | $2.2B | $2.6B | $3.1B | $2.9B | $4.0B | $4.2B | $4.7B | $5.6B | $6.6B |
| Operating income | $949.7M | $1.1B | $1.2B | $1.4B | $1.0B | $1.8B | $1.6B | $1.8B | $2.3B | $2.9B |
| Net income | $738.3M | $670.9M | $1.1B | $1.4B | $1.1B | $1.7B | $1.3B | $1.8B | $2.3B | $2.9B |
| EPS (diluted) | $2.09 | $1.92 | $3.16 | $3.85 | $2.94 | $4.66 | $3.65 | $5.03 | $6.42 | $7.87 |
| Free cash flow | $1.0B | $953.2M | $982.2M | $1.2B | $1.1B | $1.7B | $958.4M | $749.6M | $1.3B | $2.5B |
| Buybacks | $42.5M | $2.3B | $0 | $269.5M | $134.3M | $0 | $2.6B | $416.3M | $0 | $2.3B |
| Diluted shares | 353.7M | 348.9M | 356.4M | 358.4M | 361.0M | 365.8M | 362.0M | 357.4M | 362.0M | 362.7M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into ISRG?
A reverse DCF asks what growth the current price requires. With an enterprise value of $155.7B and $3.2B of trailing free cash flow, Intuitive Surgical needs to grow free cash flow about 33.6% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 16.9% a year over the last five years.
P/E ratio history
Current 57.5x vs. median 52.9x (10th–90th percentile 30.2x–93.2x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
ISRG earnings
Next report: January 21, 2027. Intuitive Surgical has beaten EPS estimates 8 quarters in a row.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Oct 20, 2026 | $2.64 | $3.00 | +13.6% |
| Jul 16, 2026 | $2.50 | $2.80 | +11.9% |
| Apr 21, 2026 | $2.11 | $2.50 | +18.7% |
| Jan 22, 2026 | $2.27 | $2.53 | +11.6% |
| Oct 21, 2025 | $1.99 | $2.40 | +20.7% |
| Jul 22, 2025 | $1.92 | $2.19 | +14.1% |
| Apr 22, 2025 | $1.73 | $1.81 | +4.4% |
| Jan 23, 2025 | $1.79 | $2.21 | +23.7% |
Stocks like ISRG
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 ABT Abbott Laboratories | +1.16% | -16% | $179.4B | 38.6x | Compare |
 MDT Medtronic plc. | -1.22% | +5% | $122.0B | 23.4x | Compare |
 SYK Stryker | +0.02% | -19% | $117.8B | 31.8x | Compare |
 BSX Boston Scientific | -0.70% | -55% | $66.2B | 18.5x | Compare |
 BDX Becton, Dickinson and | -0.75% | +39% | $54.2B | 46.3x | Compare |
 EW Edwards Lifesciences Corporatio | -1.13% | +16% | $51.3B | 53.0x | Compare |
 IDXX IDEXX Laboratories | -1.13% | -12% | $44.1B | 39.4x | Compare |
 RMD ResMed | -0.08% | -4% | $35.6B | 24.2x | Compare |
ISRG news
- Intuitive Surgical Sinks 6% as U.S. da Vinci Growth Slows to “Lowest We’ve Seen Since COVID” · Oct 23, 2026
- How Has Intuitive Surgical's Story Changed? · Oct 22, 2026
- Intuitive Surgical (ISRG) Stock Faces A Q3 Earnings Valuation Reality Check · Oct 22, 2026
- Intuitive Surgical Hammered As Elevated Buy-Side Views Outshine Solid Numbers · Oct 21, 2026
- ISRG Q3 deep dive: margin pressure overshadows strong adoption and international growth · Oct 21, 2026
ISRG stock FAQ
What is ISRG's market cap?
Intuitive Surgical's market capitalization is $159.78 billion as of October 23, 2026, ranking 77th in the S&P 500.
What is ISRG's P/E ratio?
ISRG trades at a trailing price-to-earnings ratio of 54.7x and a forward P/E of 36.4x. Its median P/E over the period we track is 52.9x.
Does ISRG pay a dividend?
No. Intuitive Surgical does not currently pay a regular cash dividend.
How much has ISRG stock returned?
Including reinvested dividends, ISRG returned -18.0% over one year, +5.8% a year over five years, +19.6% a year over ten years through October 23, 2026.
Is ISRG stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Intuitive Surgical must grow free cash flow about 34% a year for the next decade. Its free cash flow grew 17% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does ISRG report earnings?
Intuitive Surgical is expected to report earnings on January 21, 2027. It has beaten EPS estimates 8 quarters in a row.
How many employees does Intuitive Surgical have?
Intuitive Surgical has about 17,021 full-time employees, or $680,219 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology