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Stocks · Health care · Orthopedic, Prosthetic & Surgical Appliances & Supplies

Intuitive Surgical

ISRG Clue Score80
United States Fiscal year ends December CIK 0001035267
$423.96 +2.06% Close, 9 Oct 2026
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Price $423.96 +30.78% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2.71Operating income0.95Net income0.74EPS, diluted6.26Fiscal year 2017Revenue3.14 +16.0%Operating income1.06Net income0.67 −9.1%EPS, diluted5.77Fiscal year 2018Revenue3.72 +18.7%Operating income1.20Net income1.13 +68.1%EPS, diluted9.49Fiscal year 2019Revenue4.48 +20.3%Operating income1.37Net income1.38 +22.3%EPS, diluted3.85Fiscal year 2020Revenue4.36 −2.7%Operating income1.05Net income1.06 −23.1%EPS, diluted2.94Fiscal year 2021Revenue5.71 +31.0%Operating income1.82Net income1.70 +60.7%EPS, diluted4.66Fiscal year 2022Revenue6.22 +9.0%Operating income1.58Net income1.32 −22.4%EPS, diluted3.65Fiscal year 2023Revenue7.12 +14.5%Operating income1.77Net income1.80 +36.0%EPS, diluted5.03Fiscal year 2024Revenue8.35 +17.2%Operating income2.35Net income2.32 +29.2%EPS, diluted6.42Fiscal year 2025Revenue10.06 +20.5%Operating income2.95Net income2.86 +23.0%EPS, diluted7.87
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2.71 3.14 3.72 4.48 4.36 5.71 6.22 7.12 8.35 10.06
Growth +16.0% +18.7% +20.3% −2.7% +31.0% +9.0% +14.5% +17.2% +20.5%
Operating income 0.95 1.06 1.20 1.37 1.05 1.82 1.58 1.77 2.35 2.95
Net income 0.74 0.67 1.13 1.38 1.06 1.70 1.32 1.80 2.32 2.86
Growth −9.1% +68.1% +22.3% −23.1% +60.7% −22.4% +36.0% +29.2% +23.0%
EPS, diluted 6.26 5.77 9.49 3.85 2.94 4.66 3.65 5.03 6.42 7.87

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin69.9%Operating margin35.1%Net margin27.3%Free cash flow margin38.2%Fiscal year 2017Gross margin70.2%Operating margin33.9%Net margin21.4%Free cash flow margin30.4%Fiscal year 2018Gross margin69.9%Operating margin32.2%Net margin30.3%Free cash flow margin26.4%Fiscal year 2019Gross margin69.4%Operating margin30.7%Net margin30.8%Free cash flow margin26.2%Fiscal year 2020Gross margin65.6%Operating margin24.1%Net margin24.3%Free cash flow margin26.2%Fiscal year 2021Gross margin69.3%Operating margin31.9%Net margin29.9%Free cash flow margin30.6%Fiscal year 2022Gross margin67.4%Operating margin25.3%Net margin21.3%Free cash flow margin15.4%Fiscal year 2023Gross margin66.4%Operating margin24.8%Net margin25.2%Free cash flow margin10.5%Fiscal year 2024Gross margin67.5%Operating margin28.1%Net margin27.8%Free cash flow margin15.6%Fiscal year 2025Gross margin66.0%Operating margin29.3%Net margin28.4%Free cash flow margin24.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 69.9% 70.2% 69.9% 69.4% 65.6% 69.3% 67.4% 66.4% 67.5% 66.0%
Operating margin 35.1% 33.9% 32.2% 30.7% 24.1% 31.9% 25.3% 24.8% 28.1% 29.3%
Net margin 27.3% 21.4% 30.3% 30.8% 24.3% 29.9% 21.3% 25.2% 27.8% 28.4%
Free cash flow margin 38.2% 30.4% 26.4% 26.2% 26.2% 30.6% 15.4% 10.5% 15.6% 24.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.09Capital expenditure−0.05Free cash flow1.03Buybacks−0.04Fiscal year 2017Operating cash flow1.14Capital expenditure−0.19Free cash flow0.95 −7.7%Buybacks−2.27Fiscal year 2018Operating cash flow1.17Capital expenditure−0.19Free cash flow0.98 +3.0%Buybacks0.00Fiscal year 2019Operating cash flow1.60Capital expenditure−0.43Free cash flow1.17 +19.4%Buybacks−0.27Fiscal year 2020Operating cash flow1.48Capital expenditure−0.34Free cash flow1.14 −2.5%Buybacks−0.13Fiscal year 2021Operating cash flow2.09Capital expenditure−0.34Free cash flow1.75 +53.1%Buybacks0.00Fiscal year 2022Operating cash flow1.49Capital expenditure−0.53Free cash flow0.96 −45.2%Buybacks−2.61Fiscal year 2023Operating cash flow1.81Capital expenditure−1.06Free cash flow0.75 −21.8%Buybacks−0.42Fiscal year 2024Operating cash flow2.42Capital expenditure−1.11Free cash flow1.30 +73.9%Buybacks0.00Fiscal year 2025Operating cash flow3.03Capital expenditure−0.54Free cash flow2.49 +91.0%Buybacks−2.30
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.09 1.14 1.17 1.60 1.48 2.09 1.49 1.81 2.42 3.03
Capital expenditure −0.05 −0.19 −0.19 −0.43 −0.34 −0.34 −0.53 −1.06 −1.11 −0.54
Free cash flow 1.03 0.95 0.98 1.17 1.14 1.75 0.96 0.75 1.30 2.49
Growth −7.7% +3.0% +19.4% −2.5% +53.1% −45.2% −21.8% +73.9% +91.0%
Buybacks −0.04 −2.27 0.00 −0.27 −0.13 0.00 −2.61 −0.42 0.00 −2.30

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash1.04Shareholders’ equity5.78Fiscal year 2017Cash0.65Shareholders’ equity4.78Fiscal year 2018Cash0.86Shareholders’ equity6.68Fiscal year 2019Cash1.17Shareholders’ equity8.26Fiscal year 2020Cash1.62Shareholders’ equity9.73Fiscal year 2021Cash1.29Shareholders’ equity11.90Fiscal year 2022Cash1.58Shareholders’ equity11.04Fiscal year 2023Cash2.75Shareholders’ equity13.31Fiscal year 2024Cash2.03Shareholders’ equity16.43Fiscal year 2025Cash3.37Shareholders’ equity17.82
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1.04 0.65 0.86 1.17 1.62 1.29 1.58 2.75 2.03 3.37
Shareholders’ equity 5.78 4.78 6.68 8.26 9.73 11.90 11.04 13.31 16.43 17.82

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
69.9% 70.2% 69.9% 69.4% 65.6% 69.3% 67.4% 66.4% 67.5% 66.0%
35.1% 33.9% 32.2% 30.7% 24.1% 31.9% 25.3% 24.8% 28.1% 29.3%
36.4% 35.2% 34.4% 33.5% 27.7% 33.1% 25.8% 27.5% 32.0% 32.9%
27.3% 21.4% 30.3% 30.8% 24.3% 29.9% 21.3% 25.2% 27.8% 28.4%
38.2% 30.4% 26.4% 26.2% 26.2% 30.6% 15.4% 10.5% 15.6% 24.7%
Spending
8.9% 10.5% 11.2% 12.4% 13.7% 11.8% 14.1% 14.0% 13.7% 13.0%
26.0% 25.8% 26.5% 26.3% 27.9% 25.7% 28.0% 27.6% 25.6% 23.7%
2.0% 6.1% 5.0% 9.5% 7.8% 5.9% 8.6% 14.9% 13.3% 5.4%
25.1% 39.3% 12.1% 8.0% 11.6% 8.6% 16.3% 7.2% 12.6% 13.1%
Returns
12.8% 14.0% 16.9% 16.7% 10.9% 14.3% 12.0% 13.5% 14.1% 16.0%
11.4% 11.6% 14.4% 14.2% 9.5% 12.6% 10.2% 11.6% 12.4% 14.0%
Balance and payout
10.9% 17.2% 14.8% 14.9% 12.6% 11.8% 14.3% 13.2% 11.8% 12.3%
4.1% 238.6% 0.0% 23.0% 11.7% 0.0% 272.1% 55.5% 0.0% 92.2%