INTUITIVE SURGICAL INC ISRG

Healthcare SIC 3842 - Orthopedic, Prosthetic & Surgical Appliances & Supplies NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical Appliance and Supplies Manufacturing derived Nasdaq

As part of Intuitive's mission, we believe that minimally invasive care is life-enhancing care. By combining ingenuity and intelligent technology, we expand the potential of physicians to heal without constraints. We envision a future of care that is less invasive and profoundly better, where diseases are identified early and treated quickly so patients can get back to what matters most.

Since our founding over 30 years ago, we have been delivering on this mission and vision by combining innovative technology with clinical expertise to advance minimally invasive care. We do so by providing a comprehensive ecosystem that includes robotic-assisted systems, instruments and accessories, customer learning, and customer support services all connected by a digital portfolio that enables actionable insights across the care continuum. Among other capabilities, these products and services can augment the skills and improve the efficiency of clinicians and care teams while providing decision support and learning that can help deliver differentiated clinical and economic value for patients, providers, and payers when compared to the next best available treatment options.

Last close 452.29 2026-10-23
Market cap $159.78B 2026-06-30 share count
52-week range 328.57 - 603.88

Valuation FY2025 figures against the last close

P/S15.9x
P/E57.5x
P/FCF64.2x
EV/EBITDA45.1x
Dividend yield—
Diluted EPS7.87

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $10.06B$8.35B$7.12B$6.22B$5.71B$4.36B$4.48B$3.72B$3.14B$2.71B
Cost of revenue $3.42B$2.72B$2.39B$2.03B$1.75B$1.50B$1.37B$1.12B$936.2M$813.6M
Gross profit $6.64B$5.63B$4.73B$4.20B$3.96B$2.86B$3.11B$2.60B$2.20B$1.89B
R&D $1.31B$1.15B$998.8M$879.0M$671.0M$595.1M$557.3M$418.1M$328.6M$239.6M
SG&A $2.38B$2.14B$1.96B$1.74B$1.47B$1.22B$1.18B$986.6M$810.5M$703.6M
Total operating expenses $3.70B$3.29B$2.96B$2.62B$2.14B$1.81B$1.74B$1.40B$1.14B$943.2M
Operating income $2.95B$2.35B$1.77B$1.58B$1.82B$1.05B$1.37B$1.20B$1.06B$949.7M
Pre-tax income $3.31B$2.67B$1.96B$1.61B$1.89B$1.21B$1.50B$1.28B$1.10B$985.3M
Income tax $434.8M$336.3M$141.6M$262.4M$162.2M$140.2M$120.4M$154.5M$433.9M$247.0M
Net income $2.86B$2.32B$1.80B$1.32B$1.70B$1.06B$1.38B$1.13B$670.9M$738.3M
EPS, basic 8.006.545.123.724.793.023.989.926.016.43
EPS, diluted 7.876.425.033.654.662.943.859.495.776.26
Shares, diluted (wtd. avg.) 362.7M362.0M357.4M362.0M365.8M361.0M358.4M118.8M116.3M117.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $3.37B$2.03B$2.77B$1.60B$1.31B$1.64B$1.18B$909.4M$663.2M$1.05B
Short-term investments $2.57B$1.99B$2.47B$2.54B$2.91B$3.49B$2.05B$2.21B$1.31B$1.52B
Receivables $1.53B$1.23B$1.13B$942.1M$782.7M$645.5M$645.2M$682.3M$507.9M$430.2M
Inventory $1.84B$1.49B$1.22B$893.2M$587.1M$601.5M$595.5M$409.0M$241.2M$182.3M
Total current assets $9.78B$7.11B$7.89B$6.25B$5.84B$6.63B$4.66B$4.33B$2.81B$3.25B
Property, plant and equipment $5.34B$4.65B$3.54B$2.37B$1.88B$1.58B$1.27B$812.0M$613.1M$458.4M
Goodwill $370.3M$347.5M$348.7M$348.5M$343.6M$336.7M$307.2M$240.6M$201.1M$201.1M
Other intangibles $17.1M$23.0M$39.1M$49.8M$70.5M$77.4M$112.1M$66.7M$26.0M$31.5M
Total assets $20.46B$18.74B$15.44B$12.97B$13.55B$11.17B$9.73B$7.85B$5.78B$6.49B
Accounts payable $255.1M$193.4M$188.7M$147.0M$121.2M$81.6M$123.5M$100.7M$82.5M$68.5M
Total current liabilities $2.01B$1.75B$1.66B$1.42B$1.15B$965.2M$1.03B$820.6M$662.8M$596.5M
Total liabilities $2.52B$2.21B$2.04B$1.86B$1.60B$1.41B$1.45B$1.16B$996.4M$709.1M
Retained earnings $7.01B$6.80B$4.74B$3.50B$4.76B$3.26B$2.49B$1.52B$115.0M$1.57B
Total equity $17.82B$16.43B$13.40B$11.11B$11.95B$9.76B$8.28B$6.69B$4.78B$5.82B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $3.03B$2.42B$1.81B$1.49B$2.09B$1.48B$1.60B$1.17B$1.14B$1.09B
Depreciation and amortisation $600.0M$439.0M$382.0M$326.0M$280.0M$221.0M$157.0M$105.9M$82.1M$70.7M
Stock-based compensation $788.2M$676.8M$592.8M$513.2M$449.2M$395.4M$335.8M$261.2M$209.1M$177.6M
Capital expenditure $539.8M$1.11B$1.06B$532.4M$339.5M$341.5M$425.6M$187.4M$190.7M$53.9M
Investing cash flow $665.8M-$3.27B-$360.1M$1.37B-$2.46B-$940.6M-$1.15B-$1.05B$378.7M-$1.28B
Financing cash flow -$2.36B$150.9M-$287.6M-$2.57B$43.0M-$85.7M-$168.4M$126.3M-$1.91B$514.4M
Buybacks $2.30B$0$416.3M$2.61B$0$134.3M$269.5M$0$2.27B$42.5M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001035267-26-000010.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B Revenue, FY2016: 2.7B Gross profit, FY2016: 1.9B Net income, FY2016: 738.3M Revenue, FY2017: 3.1B Gross profit, FY2017: 2.2B Net income, FY2017: 670.9M Revenue, FY2018: 3.7B Gross profit, FY2018: 2.6B Net income, FY2018: 1.1B Revenue, FY2019: 4.5B Gross profit, FY2019: 3.1B Net income, FY2019: 1.4B Revenue, FY2020: 4.4B Gross profit, FY2020: 2.9B Net income, FY2020: 1.1B Revenue, FY2021: 5.7B Gross profit, FY2021: 4B Net income, FY2021: 1.7B Revenue, FY2022: 6.2B Gross profit, FY2022: 4.2B Net income, FY2022: 1.3B Revenue, FY2023: 7.1B Gross profit, FY2023: 4.7B Net income, FY2023: 1.8B Revenue, FY2024: 8.4B Gross profit, FY2024: 5.6B Net income, FY2024: 2.3B Revenue, FY2025: 10.1B Gross profit, FY2025: 6.6B Net income, FY2025: 2.9B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.71B $3.14B $3.72B $4.48B $4.36B $5.71B $6.22B $7.12B $8.35B $10.06B
Gross profit $1.89B $2.20B $2.60B $3.11B $2.86B $3.96B $4.20B $4.73B $5.63B $6.64B
Net income $738.3M $670.9M $1.13B $1.38B $1.06B $1.70B $1.32B $1.80B $2.32B $2.86B

Recent filings and events

  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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