Intuitive Surgical Inc. (ISRG)

NASDAQ: ISRG · USD

$444

-2.23 (-0.5%)· Recorded snapshot

Englische QuelleDE

Englische Quelle wird angezeigt, während wir übersetzen

Dieser Bericht wurde noch nicht übersetzt. Aktualisieren Sie in ein paar Minuten, sobald die Übersetzungswarteschlange aufgeholt hat.

StockMarketAgent Research · Analyzed 2026-09-26

Our latest published analysis: ISRG rated Sell

Intuitive Surgical Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$196 / share

Potential value

$235 / share

Upside to FV

-51.7%

from $444

Moat

9/10

Wide

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$143.1B
Revenue (ttm)	11.6B
Net income (ttm)	3B
EPS (ttm)	$8.27
Shares out	346.6M
P/E (trailing)	53.6x
P/E (forward)	33.3x
Volume	1,193,065
Beta	1.46

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 11.6B
Net income (ttm): 3B
EPS (ttm): $8.27
P/E (trailing): 53.6x
P/E (forward): 33.3x
Market cap: $143.1B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$5.71B	$6.22B	$7.12B	$8.35B	$10.06B	+15.2%
Gross profit	$3.96B	$4.20B	$4.73B	$5.63B	$6.64B	+13.8%
Operating income	$1.82B	$1.58B	$1.77B	$2.35B	$2.95B	+12.8%
Net income	$1.70B	$1.32B	$1.80B	$2.32B	$2.86B	+13.8%
EPS (diluted)	$4.66	$3.65	$5.03	$6.42	$7.87	+14.0%
EBITDA	$2.13B	$1.97B	$2.36B	$3.14B	$3.99B	+17.0%
R&D	$671.0M	$879.0M	$998.8M	$1.15B	$1.31B	+18.2%
SG&A	$1.47B	$1.74B	$1.96B	$2.14B	$2.39B	+12.9%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	Verkaufen
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	Verkaufen
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	Starker Kauf
ABBV	AbbVie Inc.	505.6B	80.8x	7.9x	17.7%	+3.7%	+29.1%	Verkaufen
ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	Reduzieren
ALGN	Align Technology Inc.	10.9B	26.6x	2.6x	17.2%	+3.6%	+11.6%	Reduzieren

Base and Bull scenarios

Base60%

Price target

$195.88

-51.7% from spot

In the Base scenario, representing the modal fundamental trajectory, Intuitive sustains steady procedural compounding consistent with corporate guidance. System placements in mature domestic markets tilt heavily toward trade-in upgrades rather than greenfield additions, while international expansion through tiered offerings partially balances public healthcare reimbursement delays. Normalized cash flows and cost of equity discounting yield a Base scenario target of $195.88 with a probability of 60.0% and an expected return of -51.7% against $405.18, aligning closely with the house Fair value of $195.88. This path would be disconfirmed by a sudden procedural volume contraction below double digits or by rapid multiple compression toward medtech peer medians.

Procedure volumes expand in line with management full-year guided ranges
Domestic system placements remain predominantly replacement trade-ins with moderating installed base expansion
EndoWrist extended-use cycles introduce progressive procedural cost savings balanced by broader benign procedure penetration
Operating margins normalize near guided baseline levels with gradual terminal multiple contraction

Bull20%

Price target

$235.14

-42.0% from spot

In the Bull scenario, accelerated da Vinci replacement cycles across domestic hospitals and rapid uptake in outpatient ambulatory surgical centers, combined with faster procedural penetration in underpenetrated international markets via the value-tier platform, drive procedural expansion above guided ranges. Under this trajectory, fundamental earnings power supports a scenario target of $235.14 with an estimated scenario probability of 20.0% and an expected return of -42.0% relative to $405.18. This outcome requires uninterrupted hospital capital budgets, seamless digital ecosystem software monetization, and prompt resolution of overseas tender backlogs. The scenario would be disconfirmed if hospital capital freezes or if pricing pressure in Asian accounts dampens international placement velocity.

da Vinci placement cadence exceeds historical upgrade cycles across domestic hospitals and ambulatory surgical centers
International procedural adoption in Europe and Asia outpaces domestic growth rates

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($195.88). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.5%	2.8%	3.0%	3.3%	3.5%
9.2%	$205	$206	$207	$209	$211
9.7%	$199	$200	$201	$203	$204
10.2%	$194	$195	$196	$197	$198
10.7%	$189	$190	$191	$192	$193
11.2%	$185	$186	$187	$187	$188

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E33.3

P25 n/aP50 n/aP75 n/a

Trailing P/E45.7

P25 n/aP50 n/aP75 n/a

ROE17.9

P25 n/aP50 n/aP75 n/a

ROIC24

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All ISRG indicators

Market & fundamental data

Available fields

280

Groups with data

Currency

USD

Showing 280 of 280 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001035267
Company name	Intuitive Surgical, Inc.
Country	United States
Country code	US
CUSIP number	46120E602
Earnings date	2026-10-20
Earnings time	amc
Employees	17,021
Employees change	1,383
Employees growth	8.84%
Enterprise value	$149.7B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1995
In index	SP500, NASDAQ100
Industry	Medical Instruments & Supplies
IPO date	2000-06-13
Is primary listing	Yes
Is SPAC	No
ISIN number	US46120E6023
Last 10-K release date	2026-02-03
Last earnings date	2026-10-20
Last refreshed	2026-10-28
Last stock split date	2021-10-05
Last stock split type	Forward
Market cap	$153.8B
Market cap category	Large-Cap
Next earnings date	2027-01-21
Options	Yes
Price	$443.66
Price currency	USD
Sector	Healthcare
SIC code	3842
Stock price date	2026-10-28
Symbol	ISRG
Tags	robotics
U.S. state	California
Website	https://www.intuitive.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	40.97x
Average P/E ratio (10Y)	62.06x
Average P/E ratio (3Y)	66.16x
Average P/E ratio (5Y)	66.24x
Earnings yield	1.86%
EV/Earnings	51.09x
EV/EBIT	41.16x
EV/EBITDA	33.8x
EV/FCF	41.99x
EV/Sales	13.05x
FCF / EV yield	2.38%
FCF yield	2.32%
Forward EV/Sales	11.65x
Forward P/E	36.76x
Forward P/S	11.96x
Graham number	92.66099
Graham upside	-79.29%
Industry forward P/E	22.82x
Industry P/E	66.22x
Lynch fair value	$98.05
Lynch upside	-78.09%
P/(FCF - SBC) ratio	56.15x
P/(OCF - SBC) ratio	47.67x
P/B ratio	9.67x
P/E ratio	53.62x
P/FCF ratio	43.12x
P/OCF ratio	37.93x
P/S ratio	13.4x
PEG ratio	2.36x
Price / tangible book value	10.18x
Price/EBITDA ratio	34.7x
Sector forward P/E	23.56x
Sector P/E	50.08x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	31.7%
EBITDA margin	38.61%
Effective tax rate	17.85%
FCF margin	31.08%
Gross margin	66.64%
Operating margin	31.7%
Pretax margin	31.26%
Profit margin	25.54%
Profit per employee	$173,738
Profitable quarters	35
Profitable years	22
Revenue per employee	$680,219
ROA	11.86%
ROA (5Y)	8.5%
ROCE	21.83%
ROE	17.93%
ROE (5Y)	14.94%
ROIC	23.97%
ROIC (5Y)	21.26%
SBC / revenue	7.21%
Tax / revenue	5.58%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	9.47%
EPS growth (Q)	-23.59%
EPS growth (QoQ)	-34.93%
EPS growth 10Y	14.92%
EPS growth 3Y	24.86%
EPS growth 5Y	12.27%
EPS growth years	3
FCF growth	58.41%
FCF growth (Q)	51.03%
FCF growth (QoQ)	17.14%
FCF growth 3Y	42.04%
FCF growth 5Y	13.81%
Gross profit growth	20.93%
Gross profit growth (Q)	23.71%
Gross profit growth 3Y	19.14%
Gross profit growth 5Y	15.26%
Net income growth	7.66%
Net income growth (Q)	-25.78%
Net income growth (QoQ)	-36.1%
Net income growth 3Y	24.93%
Net income growth 5Y	11.85%
Net income growth years	3
OCF growth	38.13%
OCF growth (Q)	45.55%
OCF growth (QoQ)	15.37%
OCF growth 10Y	14.67%
OCF growth 3Y	26.43%
OCF growth 5Y	13.73%
Operating income growth	30.34%
Operating income growth (Q)	33.58%
Operating income growth 3Y	28.81%
Operating income growth 5Y	15.49%
Revenue growth	20.45%
Revenue growth (Q)	21.7%
Revenue growth (QoQ)	5.41%
Revenue growth 10Y	16.02%
Revenue growth 3Y	19.11%
Revenue growth 5Y	16.1%
Revenue growth quarters	24
Revenue growth years	5

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-491.5M
Depreciation and amortization	$800.3M
EBIT	$3.7B
EBITDA	$4.5B
EPS	$8.27
FCF per share	$10.38
Financing cash flow	$-4.7B
Free cash flow	$3.6B
Free cash flow minus SBC	$2.8B
Gross profit	$7.7B
Income taxes	$645.9M
Investing cash flow	$747.3M
Net cash flow	$172.9M
Net income	$3B
Operating cash flow minus SBC	$3.3B
Operating income	$3.7B
Revenue	$11.6B
Stock-based compensation	$835.3M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	32.46
Book value per share	$46.12
Debt / equity	0
Goodwill	$557.8M
Long-term assets	$10.9B
Long-term liabilities	$698.3M
Net cash (debt)	$4B
Net cash / market cap	2.61%
Net cash growth	-17.65%
Net debt / EBITDA	-0.9
Net debt / equity	-0.25
Net debt / FCF	-1.12
Piotroski F-Score	6
Property, plant and equipment	$5.7B
Shareholders' equity	$16.1B
Tangible book value	$15.2B
Tangible book value per share	$43.95
Total assets	$19.3B
Total cash	$4B
Total debt	$0
Total liabilities	$3.2B
WACC	12.3%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.6
Current assets	$8.4B
Current liabilities	$2.5B
Current ratio	3.33
Inventory turnover	1.98
Net working capital	$1.9B
Quick ratio	2.32
Working capital	$5.9B
Working capital turnover	1.84

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	1.75%
Dividend yield	0%
Shareholder yield	1.75%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	502.05%
10Y return CAGR	19.67%
10Y total return	502.05%
150-day SMA	$412.48
15Y price change	817.26%
15Y return CAGR	15.92%
15Y total return	817.26%
1D price change	-0.5%
1M price change	9.5%
1M total return	9.5%
1W price change	3.63%
1W total return	3.63%
1Y price change	-19.52%
1Y return CAGR	-19.53%
1Y total return	-19.52%
20-day SMA	$425.97
200-day SMA	$434.20
20Y price change	3,865.85%
20Y return CAGR	20.2%
20Y total return	3,865.97%
3M price change	24.33%
3M total return	24.33%
3Y price change	71.31%
3Y return CAGR	19.65%
3Y total return	71.31%
50-day SMA	$399.36
50-day SMA vs 200-day SMA	50under200
52-week high	$603.88
52-week high date	2026-01-07
52-week low	$328.57
52-week low date	2026-07-23
5Y price change	27.13%
5Y return CAGR	4.92%
5Y total return	27.13%
6M price change	-5.8%
6M total return	-5.8%
After-hours change	0.77%
After-hours close	$443.66
After-hours price	$447.07
All-time high	$616.00
All-time high date	2025-01-23
All-time low	$0.67
All-time low date	2001-04-03
Average true range (ATR)	$12.64
Average volume	2.3M
Beta (1Y)	0.88
Beta (2Y)	1.18
Beta (5Y)	1.46
Change from 52-week high	-26.53%
Change from 52-week low	35.03%
Change from all-time high	-27.98%
Change from all-time low	66,445.67%
Change from open	0.48%
Day's gap	-0.97%
Dollar volume	$529.3M
High price	$449.95
Low price	$438.13
Monthly RSI	49.61
Open price	$441.55
Position in 52-week range	46.79%
Premarket change	-1.32%
Premarket close	$445.88
Premarket price	$440.00
Premarket volume	8.2K
Previous close	$445.88
Price vs 150-day SMA	7.56%
Price vs 20-day SMA	4.15%
Price vs 200-day SMA	2.18%
Price vs 50-day SMA	11.09%
Relative volume	0.53
RSI	63.85
Sharpe ratio	-0.59
Sharpe ratio (3Y)	0.54
Sharpe ratio (5Y)	0.21
Sortino ratio	-0.62
Sortino ratio (3Y)	1
Sortino ratio (5Y)	0.47
Volume	1.2M
Weekly RSI	56.2
YTD price change	-21.66%
YTD total return	-21.66%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	344.6M
Float percentage	99.41%
Shares change (QoQ)	-1.6%
Shares change (YoY)	-1.75%
Shares held by insiders	0.48%
Shares held by institutions	90.11%
Shares outstanding	346.6M
Short % of float	2.15%
Short % of shares	2.14%
Short ratio	3.1 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	271

Deeper analysis on ISRG

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this ISRG report

What is the latest published ISRG stock rating?

Intuitive Surgical Inc. is shown with Sell in the latest published report, analyzed 2026-09-26. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full ISRG analysis?

The full latest published report, analyzed 2026-09-26, lives at /stocks/ISRG/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for ISRG?

The latest published report analyzed 2026-09-26 gives ISRG a fair value of USD 196 and a potential value of USD 235. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the ISRG page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-26). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellISRG · Fair value $196-51.7%

Read full analysis →

Intuitive Surgical Inc. (ISRG)

Our latest published analysis: ISRG rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · ISRG

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All ISRG indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on ISRG

Frequently asked questions

Ratingverlauf

Category	Score	Reading
Valuation	1.5
Management	8.5
Balance Sheet	8.5
Profitability	7.5
Revenue Growth	7.5
Risk Assessment	8.0
Competitive Moat	9.0
Earnings Quality	7.5
Capital Efficiency	6.5