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Nasdaq · Healthcare

INTUITIVE SURGICAL INC (ISRG)

As-reported financials and recent SEC filings for INTUITIVE SURGICAL INC, latest fiscal period FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About INTUITIVE SURGICAL INC

Intuitive Surgical Inc develops robotic-assisted surgical systems designed to enable minimally invasive procedures. Its main products include the da Vinci surgical systems, which assist surgeons in performing a variety of surgeries with enhanced precision and control, and the Ion endoluminal system, used for minimally invasive lung biopsies. The company serves healthcare providers, including hospitals and surgical teams, aiming to improve patient outcomes and surgical efficiency.

Snapshot

Revenue
$10.06B
Revenue growth (YoY)
20.5%
Net income
$2.86B
Diluted EPS
$7.87
Gross margin
66.0%
Operating margin
29.3%
Net margin
28.4%
FCF margin
24.7%
ROE
15.9%
P/E (TTM)
41.0×
Market cap
$127.84B
Debt / equity

Fundamentals are from SEC filings. P/E and market cap are derived from recent market prices, refreshed on a rolling basis (typically within the past week).

What changed at Intuitive Surgical

  • Revenue grew 20.5% to $10.1B in FY2025, faster than the 17.2% the year before.
  • Operating margin is 29.3% in FY2025, -2.6 pp against 31.9% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $2.9B, up 18.5% from Q2 FY2025.
  • Free cash flow was $2.5B in FY2025, 24.7% of revenue.
  • Net income rose 23.0% to $2.9B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Intuitive Surgical’s fundamentals sit among the 558 Healthcare companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin66.0%
63rd percentile of 280
Operating margin29.3%
93rd percentile of 397
Net margin28.4%
91st percentile of 416
FCF margin24.7%
92nd percentile of 371
Revenue growth (YoY)+20.5%
69th percentile of 538
ROE15.9%
83rd percentile of 474
P/E (TTM)41.0×
76th percentile of 203
Short interest2.42d
20th percentile of 557

Intuitive Surgical’s operating margin of 29.3% ranks in the 93rd percentile of the 397 Healthcare companies reporting it. Intuitive Surgical’s FCF margin of 24.7% ranks in the 92nd percentile of the 371 Healthcare companies reporting it. Intuitive Surgical’s net margin of 28.4% ranks in the 91st percentile of the 416 Healthcare companies reporting it.

No open-market insider buys in the last 90 days; 14 insider sales totaling $2.9M. For context, about 16% of companies in the universe saw any open-market insider buying in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 7 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F (latest Q1 2026).

Conviction investors
7
+7 quant / multi-strat
Initiated / added
7
0 new, 7 added
Reduced / exited
7
6 trimmed, 1 exited
Combined position
$3.76B
reported long value
InvestorAs ofPosition valueSharesChange
Two Sigma InvestmentsquantQ1 2026$647.8M1.4MAdded
Citadel AdvisorsquantQ1 2026$625.1M1.4MAdded
Sands Capital ManagementQ1 2026$609.1M1.3MReduced
Millennium ManagementquantQ1 2026$419.6M910.3KReduced
Coatue ManagementQ1 2026$394.3M855.2KAdded
Point72 Asset ManagementquantQ1 2026$292.9M635.3KAdded
Polen Capital ManagementQ1 2026$279.7M606.8KReduced
D. E. ShawquantQ1 2026$265.8M576.5KReduced
AQR Capital ManagementquantQ1 2026$118.4M258.9KAdded
Renaissance TechnologiesquantQ1 2026$64.3M139.4KReduced
ARK Investment ManagementQ1 2026$31.8M69.0KAdded
Bridgewater AssociatesQ1 2026$8.0M17.3KAdded
Gotham Asset ManagementQ1 2026$7.2M15.6KReduced
Dodge & CoxQ1 2026$230,495500Held

No longer held by: Giverny Capital (as of Q1 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
open-market
Bought (90d)
open-market value
Sells (90d)
14
$2.9M
Signal
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-12
Brosius MarkEVP & Chief Mfg and Supply ChaSell25$414.13$10K
2026-06-11
filed 2026-06-12
Brosius MarkEVP & Chief Mfg and Supply ChaSell23$412.16$9K
2026-06-10
LOEB GARYEVP & Chief Legal and ComplianSell400$424.14$170K
2026-06-10
Brosius MarkEVP & Chief Mfg and Supply ChaSell23$424.14$10K
2026-06-09
filed 2026-06-10
Brosius MarkEVP & Chief Mfg and Supply ChaSell23$421.13$10K
2026-06-08
filed 2026-06-10
Brosius MarkEVP & Chief Mfg and Supply ChaSell23$420.12$10K
2026-06-01
filed 2026-06-02
Jeddi ImanSVP & GM da Vinci Platforms &Sell5.6K$420.55$2.4M
2026-05-22
Brosius MarkEVP & Chief Mfg and Supply ChaSell18$439.80$8K
2026-05-21
filed 2026-05-22
Brosius MarkEVP & Chief Mfg and Supply ChaSell18$446.04$8K
2026-05-20
Brosius MarkEVP & Chief Mfg and Supply ChaSell18$440.38$8K
2026-05-19
filed 2026-05-20
Brosius MarkEVP & Chief Mfg and Supply ChaSell18$440.70$8K
2026-05-18
filed 2026-05-20
Brosius MarkEVP & Chief Mfg and Supply ChaSell18$422.47$8K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
6.7M
settled 2026-07-15
Change vs prior
-8.4%
vs previous settlement
Days to cover
2.42
at avg daily volume
Avg daily volume
2.8M
FINRA reported
SettlementShares shortChangeDays to cover
2026-07-156.7M-8.4%2.42
2026-06-307.3M-6.2%2.69
2026-06-157.8M+7.4%3.14
2026-05-297.3M+8.3%3.13
2026-05-156.7M+0.2%2.97
2026-04-306.7M+0.4%2.60
2026-04-156.7M-1.3%3.98
2026-03-316.8M+6.4%4.20

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$10.06B$8.35B$7.12B$6.22B$5.71B
Gross profit$6.64B$5.63B$4.73B$4.20B$3.96B
Operating income$2.95B$2.35B$1.77B$1.58B$1.82B
Net income$2.86B$2.32B$1.80B$1.32B$1.70B
Diluted EPS$7.87$6.42$5.03$3.65$4.66

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$3.37B$2.03B$2.75B$1.58B$1.29B
Current assets$9.78B$7.11B$7.89B$6.25B$5.84B
Total assets$20.46B$18.74B$15.44B$12.97B$13.55B
Current liabilities$2.01B$1.75B$1.66B$1.42B$1.15B
Long-term debt
Total liabilities$2.52B$2.21B$2.04B$1.86B$1.60B
Total equity$17.94B$16.53B$13.40B$11.11B$11.95B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$3.03B$2.42B$1.81B$1.49B$2.09B
Capital expenditure$539.8M$1.11B$1.06B$532.4M$339.5M
Free cash flow$2.49B$1.30B$749.6M$958.4M$1.75B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$2.89B18.5%$818.1M$2.29
Q1 FY2026$2.77B23.0%$821.5M$2.28
Q4 FY2025$2.87B18.8%$794.8M$2.21
Q3 FY2025$2.51B22.9%$704.4M$1.95
Q2 FY2025$2.44B21.4%$658.4M$1.81
Q1 FY2025$2.25B19.2%$698.4M$1.92
Q4 FY2024$2.41B25.2%$685.7M$1.88
Q3 FY2024$2.04B16.9%$565.1M$1.56

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorHealthcare
SIC industryOrthopedic, Prosthetic & Surgical Appliances & Supplies
Fiscal year endDecember 31
Latest fiscal periodFY2025
SEC filings since2018
SEC CIK1035267

Recent SEC filings

10-K2026-02-03
View on EDGAR →
10-K2025-01-31
View on EDGAR →
10-Q2026-07-21
View on EDGAR →
10-Q2026-04-22
View on EDGAR →
10-Q2025-10-22
View on EDGAR →
10-Q2025-07-23
View on EDGAR →
8-K2026-07-27
View on EDGAR →
8-K2026-07-16
View on EDGAR →

Largest Healthcare peers

All Healthcare companies →

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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.