Intuitive Surgical, Inc. (ISRG) Stock

Intuitive Surgical, Inc. (ISRG) is a Healthcare stock trading at $345.65 (as of 2026-07-17), with a market capitalization of $122.42B and a trailing P/E of 41.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Intuitive Surgical, Inc. develops and markets medical technology for minimally invasive care, including its da Vinci Surgical System and its Ion endoluminal system. It also supplies related instrumentation, learning and services such as support, installation, repair, and maintenance, and digital capabilities for healthcare providers in the U.S. and internationally.

Understand Intuitive Surgical, Inc.: how it makes money

Intuitive Surgical develops and sells minimally invasive surgical systems, including the da Vinci Surgical System and the Ion endoluminal system, and it makes money by selling the systems and related instruments, accessories, and services.

The profit model is driven by the mix of high-value, repeatable revenue from instruments and accessories and the ongoing contribution from services, alongside one-time or less frequent systems revenue, plus a small lease buyout component.

Revenue by segment (latest quarter)
Instruments	$1.7B
Systems	$0.7B
Services	$0.4B
Lease buyout	$0.0B

Business quality (Strong): The provided facts clearly show revenue composition (instruments and accessories, systems, services, lease buyout) and include operating margin and gross margin. However, no utilization or procedure-level metrics are provided in the facts, and per-procedure KPI fields are shown as 0.0.

Valuation: At 49× earnings, ISRG trades 53% above the Medical Equipment average (32×). Note: one-time items can distort reported P/E.

Bull case

Broader revenue streams tied to its surgical platform: Along with systems revenue, the company reports meaningful revenue from instruments and accessories and from services.
Product expansion beyond surgery: Its Ion endoluminal system extends commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.

Bear case

Revenue concentration in platform-related categories: A large portion of revenue comes from instruments and accessories and services, which can be sensitive to changes in demand for minimally invasive care and in how customers use the systems.
Systems growth is not the only driver, but it still matters: Systems revenue is a distinct line item, so shifts in system sales can affect the revenue base that supports the rest of the portfolio.

Valuation — source: SEC EDGAR (first-party)
Price	$345.65
Market Cap	$122.42B
P/E Ratio	41.1
EV / EBITDA	37.3
Price / Book	6.96
Price / Sales	11.57
Dividend Yield	0.0%
FCF Yield	2.3%
DCF Value (model)	$156.48
DCF Upside vs Price	-54.7%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$10.06B
Net Margin	28.4%
Return on Equity	16.9%
Current Ratio	4.61
Revenue Growth (YoY)	23.0%
EPS Growth (YoY)	18.5%
FCF Growth (YoY)	73.9%

Financial Health — source: SEC EDGAR
Altman Z-Score	31.16 (safe)

Valuation vs Sector & Industry
Stock P/E	41.1
Sector P/E (Healthcare)	21.4
Industry P/E (Medical Equipment)	30.8
vs Sector	91.7%
vs Industry	33.2%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Insider Sells (12mo)	9
Top Institutional Holder	VANGUARD GROUP INC ($19.04B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Healthcare
Industry	Medical Equipment
CEO	David J. Rosa
Employees	15,638
Country	US
IPO Date	2000-06-16

Related Companies (Business model: Medical Devices / Life Science Tools; 8 closest by market cap; US-domiciled)

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.