TORVANTA
Health Care · S&P 500 · data as of 2026-10-05

ISRG stock analysis: Intuitive Surgical

Intuitive Surgical (ISRG) is an S&P 500 company in Health Care Equipment. It grades weakest on value and momentum.

The model's view of ISRG · subscribers

Where ISRG ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with ISRG · updated 2026-10-05 · from prices and SEC filings

ISRG price performance

ISRG against the S&P 500, one year
-20%+0%+20%S&P 500 +18%ISRG -7%2025-09-292026-10-05
Year to date-28.2%S&P 500 +14.5% · behind by 42.7 pts
1 year-10.1%S&P 500 +17.0% · behind by 27.2 pts
3 years+40.1%S&P 500 +89.3% · behind by 49.1 pts
5 years+23.2%S&P 500 +91.3% · behind by 68.2 pts

Total returns with dividends reinvested.

ISRG factor grades

Each grade compares ISRG with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

DValueP/E 46.6x (industry 28.8x)FCF yield 2.2% (industry 4.4%)
B+GrowthRevenue growth +21% (industry +9%)EPS growth +21% (industry +11%)
B+ProfitabilityOperating margin 31.3% (industry 18.5%)ROIC 18.6% (industry 11.1%)
DMomentum12-month change -10%From 52-wk high -31%

ISRG in plain numbers

ISRG key statistics

SectorHealth Care
IndustryHealth Care Equipment
IndexS&P 500
Market value$143.6B
Revenue growth (y/y)+21%
Free-cash-flow yield2.2%
Dividend yieldn/a
Next earnings (expected)2026-10-20
Valuation measures
Market value$143.6B
Enterprise value$140.8B
P/E (trailing)46.6x
Forward P/E (Torvanta estimate)42.5x
PEG (Torvanta estimate)4.33
Price / sales13.0x
Price / book7.9x
EV / revenue12.8x
EV / EBITDA40.8x
Financial highlights
Revenue, last 12 months$11.0B
Net income, last 12 months$3.1B
EPS, last 12 months (GAAP)$8.72
Gross margin66.7%
Operating margin31.3%
Net margin28.4%
Return on equity17.4%
Return on invested capital18.6%
Cash$2.8B
Total debt$0
Free cash flow, last 12 months$3.2B
Current ratio4.96x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

ISRG earnings trends

Revenue vs earnings
$0$723.1M$1.4B$2.2B$2.9BSep 2024 Revenue: $2.0BDec 2024 Revenue: $2.4BMar 2025 Revenue: $2.3BJun 2025 Revenue: $2.4BSep 2025 Revenue: $2.5BDec 2025 Revenue: $2.9BMar 2026 Revenue: $2.8BJun 2026 Revenue: $2.9BSep 2024 Net income: $565.1MDec 2024 Net income: $685.7MMar 2025 Net income: $698.4MJun 2025 Net income: $658.4MSep 2025 Net income: $704.4MDec 2025 Net income: $794.8MMar 2026 Net income: $821.5MJun 2026 Net income: $818.1MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 27.7%Net margin: 28.4%Net margin: 31.0%Net margin: 27.0%Net margin: 28.1%Net margin: 27.7%Net margin: 29.6%Net margin: 28.3%0%15%31%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.6$1.2$1.7$2.3Sep 2024 EPS (GAAP, diluted): $1.6Dec 2024 EPS (GAAP, diluted): $1.9Mar 2025 EPS (GAAP, diluted): $1.9Jun 2025 EPS (GAAP, diluted): $1.8Sep 2025 EPS (GAAP, diluted): $2.0Dec 2025 EPS (GAAP, diluted): $2.2Mar 2026 EPS (GAAP, diluted): $2.3Jun 2026 EPS (GAAP, diluted): $2.3Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 +25% · Dec 2025 +16% · Mar 2026 +19% · Jun 2026 +27%

From the company's 10-Q and 10-K filings with the SEC.

Intuitive Surgical financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$5.7B$6.2B$7.1B$8.4B$10.1B
Net income$1.7B$1.3B$1.8B$2.3B$2.9B
EPS (GAAP)$4.66$3.66$5.03$6.42$7.88
Free cash flow$1.7B$1.0B$749.6M$1.3B$2.5B

ISRG earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-16$2.29+27%+19%-9.7%
2026-04-21$2.28+19%+23%+3.5%
2026-01-22$2.20+16%+19%-0.5%
2026-01-14$2.20+16%+19%-3.4%
2025-10-21$1.95+25%+23%+15.5%
2025-07-22$1.81+24%+21%-3.6%

About Intuitive Surgical

HeadquartersSunnyvale, CA
Industry (SEC code)Orthopedic, Prosthetic & Surgical Appliances & Supplies
Fiscal year endsDecember 31
Incorporated inDE
Listed onNasdaq

From the company's SEC registration record.

Companies similar to ISRG

CompanyMarket valueP/ERevenue growthOperating margin12-month change
ISRG Intuitive Surgical$143.6B46.6x+21%31.3%-10%
ABT Abbott Labs$174.4B28.0x+7%17.1%-24%compare
MDT Medtronic$112.5B21.6x+10%18.1%-7%compare
SYK Stryker$109.4B29.6x+8%21.4%-22%compare
BSX Boston Scientific$61.4B17.2x+14%19.8%-56%
EW Edwards Lifesciences$50.3B50.1x+15%22.3%+13%
BDX Becton Dickinson$49.2B54.4x-3%9.6%+22%

All Health Care stock ratings

Frequently asked questions

Is ISRG stock a buy?

Torvanta does not tell individuals what to buy. Its grades for ISRG are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is ISRG's P/E ratio?

ISRG trades at about 46.6 times its last 12 months of GAAP earnings reported to the SEC, and about 42.5 times Torvanta's own estimate of the next 12 months.

When does ISRG report earnings next?

Based on its filing history, Torvanta expects Intuitive Surgical to report around 2026-10-20.

How has ISRG performed against the S&P 500?

Over the past year ISRG returned -10.1%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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