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Intuitive Surgical ISRG

$400.43
+$2.13 (+0.53%)
Market open · Sep 24, 1:10 pm ET
After hours $398.20 -0.03%
Open$396.17
Prev close$398.30
Day range$395.18 – $404.19
Volume637.8K
Market cap$141.46B
P/E (TTM)45.9
Dividend yield

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$2.89B+18.5% YoY
Operating profit$971.90M+30.7% YoY
Net profit$823.20M+23.9% YoY
Diluted EPS$2.29+26.5% YoY
Free cash flow$948.40M+69.3% YoY
Operating cash flow$1.06B

Revenue, last 8 quarters

$2.0BSep '24$2.4BDec '24$2.3BMar '25$2.4BJun '25$2.5BSep '25$2.9BDec '25$2.8BMar '26$2.9BJun '26

Net profit, last 8 quarters

$570.6MSep '24$688.0MDec '24$703.7MMar '25$664.2MJun '25$709.2MSep '25$799.5MDec '25$826.0MMar '26$823.2MJun '26

Diluted EPS by quarter

1.56Sep '241.88Dec '241.92Mar '251.81Jun '251.95Sep '252.21Dec '252.28Mar '262.29Jun '26

Free cash flow by quarter

$458.6MSep '24$510.6MDec '24$465.0MMar '25$560.1MJun '25$735.6MSep '25$730.0MDec '25$808.6MMar '26$948.4MJun '26

Annual revenue

$4.4BFY20$5.7BFY21$6.2BFY22$7.1BFY23$8.4BFY24$10.1BFY25

Profitability & balance sheet

Gross margin66.7%
Operating margin31.3%
Net margin28.4%
Return on equity17.4%
Return on assets15.3%
Return on invested capital15.8%
Current ratio4.96
Liabilities / assets12.4%
Cash & investments$5.22B
Net cash (debt)$5.22B
Free cash flow / sales29.2%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Instruments and accessories$1.73B 60.0%
  • Systems$685.00M 23.7%
  • Service$472.40M 16.3%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $2.89B $2.77B $10.06B $2.87B $2.51B
Total Operating Revenue $2.89B $2.77B $10.06B $2.87B $2.51B
Cost of Revenue $931.90M $940.30M $3.42B $961.90M $842.70M
Gross Profit $1.96B $1.83B $6.64B $1.90B $1.66B
Operating Expense $988.50M $975.20M $3.70B $1.04B $902.70M
Selling and Admin Expenses $617.90M $613.30M $2.39B $687.10M $573.30M
Research & Development $370.60M $361.90M $1.31B $352.90M $329.40M
Operating Profit $971.90M $855.30M $2.95B $864.30M $759.70M
Net Non-Operating Interest Income (Expense) $82.70M $85.10M $365.90M $91.30M $95.50M
Non-Operating Interest Income $82.70M $85.10M $365.90M $91.30M $95.50M
Pretax Profit $1.05B $940.40M $3.31B $955.60M $855.20M
Tax $231.40M $114.40M $434.80M $156.10M $146.00M
Net Profit $823.20M $826.00M $2.88B $799.50M $709.20M
Profit from Continuing Operations $823.20M $826.00M $2.88B $799.50M $709.20M
Minority Interests $5.10M $4.50M $20.60M $4.70M $4.80M
Net Income to Parent Company $818.10M $821.50M $2.86B $794.80M $704.40M
Net Income to Common Stockholders $818.10M $821.50M $2.86B $794.80M $704.40M
Basic EPS $2.31 $2.31 $8.00 $2.24 $1.98
Diluted EPS $2.29 $2.28 $7.87 $2.21 $1.95

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $20.88B $20.11B $20.46B $20.46B $19.35B
Total Current Assets $9.54B $8.81B $9.78B $9.78B $8.53B
Cash and Cash Equivalents & Short-Term Investments $5.22B $4.52B $5.93B $5.93B $4.91B
-Cash and Cash Equivalents $2.76B $2.01B $3.37B $3.37B $2.81B
-Short Term Investments $2.46B $2.51B $2.57B $2.57B $2.10B
Receivables $1.77B $1.71B $1.63B $1.63B $1.38B
-Accounts Receivable $1.43B $1.39B $1.53B $1.53B $1.12B
-Other Receivables $370.20M $352.70M $100.90M $100.90M $288.80M
-Receivables Adjustments Allowances -$28.90M -$32.70M -$24.90M
Prepaid Assets $179.40M $298.80M $168.00M
Inventory $2.03B $1.95B $1.84B $1.84B $1.78B
Other Current Assets $343.70M $337.20M $376.40M $376.40M $282.70M
Total Non-Current Assets $11.33B $11.30B $10.68B $10.68B $10.83B
Net PPE $5.55B $5.45B $5.34B $5.34B $5.15B
Investments and Advances $3.41B $3.46B $3.10B $3.10B $3.52B
-Available for Sale Securities $3.41B $3.46B $3.10B $3.10B $3.52B
Goodwill and Other Intangible Assets $778.60M $780.70M $381.40M $381.40M $362.60M
-Goodwill $580.60M $613.20M $370.30M $370.30M $348.10M
-Other Intangible Assets $198.00M $167.50M $11.10M $11.10M $14.50M
Non-Current Deferred Assets $652.40M $683.80M $1.02B $1.02B $978.90M
Other Non-Current Assets $942.10M $927.20M $837.60M $837.60M $810.40M
Total Liabilities $2.58B $2.51B $2.52B $2.52B $2.31B
Total Current Liabilities $1.92B $1.91B $2.01B $2.01B $1.80B
Payables $442.50M $488.60M $380.50M $380.50M $419.30M
-Accounts Payable $277.20M $332.90M $255.10M $255.10M $291.20M
-Total Tax Payable $165.30M $155.70M $125.40M $125.40M $128.10M
Current Accrued Expenses $505.30M $492.20M $470.60M $470.60M $437.30M
Current Deferred Liabilities $549.40M $559.50M $506.70M $506.70M $491.10M
Total Non-Current Liabilities $656.00M $602.80M $510.80M $510.80M $506.50M
Long Term Accounts Payable and Other Payables $242.30M $220.30M $193.60M $193.60M $231.20M
Non-Current Deferred Liabilities $112.60M $104.00M $91.40M $91.40M $79.40M
Other Non-Current Liabilities $301.10M $278.50M $225.80M $225.80M $195.90M
Total Equity $18.30B $17.60B $17.94B $17.94B $17.04B
Stockholders' Equity $18.17B $17.47B $17.82B $17.82B $16.93B
Capital Stock $400,000.00 $400,000.00 $400,000.00 $400,000.00 $400,000.00
-Common Stock $400,000.00 $400,000.00 $400,000.00 $400,000.00 $400,000.00
-Preferred Stock $0.00 $0.00 $0.00 $0.00 $0.00
Additional Paid-In Capital $11.33B $11.06B $10.77B $10.77B $10.48B
Retained Earnings $6.84B $6.40B $7.01B $7.01B $6.42B
Gains/Losses Not Affecting Retained Earnings $5.80M $16.50M $43.30M $43.30M $26.50M
Minority Interests $129.30M $122.70M $117.70M $117.70M $112.40M
-Gross PPE $7.62B $7.62B
-Accumulated Depreciation -$2.28B -$2.28B

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow $1.06B $911.90M $3.03B $892.50M $841.00M
Net cash flow from continuing operations $1.06B $911.90M $3.03B $892.50M $841.00M
Net Income from Continuing Operations $823.20M $826.00M $2.88B $799.50M $709.20M
Gain/Loss from Continuing Operations -$8.80M -$18.10M -$58.20M -$15.90M -$14.90M
Depreciation & Depletion & Amortization $231.10M $200.00M $677.10M $220.90M $142.20M
Deferred Tax $31.00M $339.30M $19.10M -$39.50M $88.00M
Change in Working Capital -$225.40M -$644.80M -$1.27B -$248.40M -$314.40M
-Change in Receivables -$74.90M $25.10M -$301.70M -$267.50M $9.90M
-Change in Inventory -$248.00M -$266.60M -$1.06B -$253.00M -$316.20M
-Change in Prepaid Assets $90.30M -$269.30M -$187.10M $61.80M -$107.10M
-Change in Payables and Accrued Expense $2.50M -$210.80M $57.90M $41.10M $59.30M
-Change in Other Current Liabilities $6.10M $30.70M $34.10M $28.90M $40.90M
-Change In Other Working Capital -$1.40M $46.10M $187.90M $140.30M -$1.20M
Net cash flow from investing -$26.60M -$914.50M $665.80M -$209.40M $401.00M
Net Cash Flow from Continuing Investing Activities -$26.60M -$914.50M $665.80M -$209.40M $401.00M
Net PPE Purchase and Sale -$112.60M -$103.30M -$539.80M -$162.50M -$105.40M
Net Business Purchase and Sale $0.00 -$482.20M -$13.90M -$12.70M $0.00
Net Investment Purchase and Sale $86.00M -$329.00M $1.22B -$34.20M $506.40M
Financing Cash Flow -$287.90M -$1.35B -$2.36B -$137.50M -$1.84B
Net Cash Flow from Continuing Financing Activities -$287.90M -$1.35B -$2.36B -$137.50M -$1.84B
Net Common Stock Issuance -$320.30M -$1.12B -$2.30B -$201.00M -$1.91B
Proceeds from Stock Option Exercised $65.60M $121.80M $350.30M $76.60M $90.00M
Net Other Financing Charges -$33.20M -$352.30M -$419.10M -$13.10M -$19.70M
Ending Cash Balance $2.81B $2.05B $3.41B $3.41B $2.85B
Net Change in Cash $746.50M -$1.36B $1.33B $545.60M -$601.00M
Beginning Cash Balance $2.05B $3.41B $2.06B $2.85B $3.45B
Effect of Exchange Rate Changes $7.10M $1.00M $12.80M $12.30M $4.00M
Free Cash Flow $948.40M $808.60M $2.49B $730.00M $735.60M
Other Non-Cash Items $9.60M
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