Intuitive SurgicalISRGRevenue: is the business selling more than it used to?
$10.1B+21% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $10.1B in 2025, compounding +17% a year since 2022 and the pace is picking up. The trailing twelve months are already running at $11.0B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGNet income: how much of that revenue becomes profit?
$2.9B+23% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $2.9B in 2025, compounding +29% a year over three years. Trailing twelve-month profit stands at $3.1B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGHow fast is it growing, year by year?
+20.5%revenue growth, FY 2025
→Revenue grew +21% in 2025 against a five-year average of +18%. Earnings grew faster (+23%), so each new dollar of sales is arriving more profitably.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGRevenue per share: is your slice growing as fast as the company?
$27.75revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $27.75 in 2025, compounding +17% a year - in line with ISRG's own +17%, so the share count is not distorting your slice. Free cash flow per share stands at $6.87.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGFree cash flow: what is left in real cash after everything?
$2.5B+91% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Free cash flow was $2.5B in 2025, compounding +37% a year since 2022. That is the most cash the business has ever thrown off in a year. The trailing twelve months stand at $3.2B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGWhere does each dollar of revenue actually go?
→Of $10.1B in 2025 sales, $2.9B reaches net profit - 28 cents on the dollar. The largest single deduction is running the company ($3.7B).
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGHow much of every sales dollar ends up as free cash?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→25 cents of every sales dollar became free cash in 2025, up 9 points since 2022.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGWhat does staying competitive cost, per dollar of sales?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The biggest claim on each sales dollar is research and development, at 13% of revenue (stock compensation 8%, capital spending 5%).
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGWhen sales grow, do profits grow faster?
→Operating profit outgrew revenue in 3 of the last 5 years, most recently +25% against +21%. Each additional dollar of sales is landing more profitably than the last - the definition of operating leverage.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Operating margin widened 4 points to 29% since 2022. After everything, 28 cents of each sales dollar reaches net profit.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→ROE of 17% and ROCE of 16% sit close together, so the returns come from the business itself rather than from borrowing.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGWhat has the market paid for ISRG over time?
42.4xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 42.4x earnings, the market is paying 26% less than ISRG's own 11-year median of 57.6x. Pessimism is priced in - the question is whether it is deserved.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGWhat cash return does the business throw off per dollar of market value?
2.5%FCF yield today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→Every dollar of market value currently buys 2.5% of annual free cash flow, more than its 11-year median of 1.6% - the cash is cheaper than usual.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGCould it handle its debt if things went wrong?
→Debt isn't clearly tagged in ISRG's filings, so treat the balance sheet with extra care rather than assuming zero.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGIs the company's own capital growing?
→The company's own capital grew from $13.3B in 2023 to $18.2B (+37%). The business is building book value rather than consuming it.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGHow much goes back, and how much leaks out as stock comp?
→Shareholders received $2.3B in buybacks in 2025. Stock compensation issued $788M of new shares in the same year, offsetting 34% of that.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGHow fast is your ownership being diluted - or concentrated?
→The share count grew 0.2% in 2025, averaging 0.1% a year over three years. Your slice of the company shrinks by that much each year unless earnings grow faster.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGDoes ISRG earn more on its capital than that capital costs?
→ISRG earns 16.0% on the capital it employs, comfortably above the 10% most investors treat as the cost of capital. It was 13.7% in 2022, so the trend is up, and the pace is picking up.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGISRG has issued or retired shares - did shareholders end up better off?
→ISRG's share count has barely moved from 2011 to 2025, so growth has not been funded by issuing stock. Revenue per share is +471% over the same years.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Intuitive SurgicalISRGAre the people running it buying or selling?
→Insiders sold $14M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 22 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30