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ISRG (Intuitive Surgical, Inc.) Stock Financials & Earnings | Market Cap Arena
2025 Q4
ISRG
Intuitive Surgical, Inc.
Mkt Cap
$173B
ISRG
Intuitive Surgical, Inc.
$173B
2025 Q4
Company Info & Key Metrics
Healthcare
Medical - Instruments & Supplies
Country
🇺🇸 United States
Exchange
NASDAQ
Revenue
$2.9B
YoY Growth
+18.8%
QoQ Growth
+14.4%
Net Income
$795M
EPS
$2.21
Free Cash Flow
$730M
Gross Margin
66.4%
Op. Margin
30.2%
Net Margin
27.7%
FCF Margin
25.5%
Rev Multiple (TTM)
17.2x
P/E Ratio (TTM)
60.7x
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$1.7B
$1.1B
$388M
Q2 23
$1.8B
$1.2B
$463M
Q3 23
$1.7B
$1.2B
$466M
Q4 23
$1.9B
$1.3B
$450M
Q1 24
$1.9B
$1.2B
$469M
Q2 24
$2.0B
$1.4B
$567M
Q3 24
$2.0B
$1.4B
$577M
Q4 24
$2.4B
$1.6B
$735M
Q1 25
$2.3B
$1.5B
$578M
Q2 25
$2.4B
$1.6B
$743M
Q3 25
$2.5B
$1.7B
$760M
Q4 25
$2.9B
$1.9B
$864M
marketcaparena.com
Revenue Breakdown
ISRG
Intuitive Surgical, Inc.
Revenue Breakdown
Q4 2025
marketcaparena.com
Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
26.9x
132.0x
Q2 23
26.0x
121.6x
Q3 23
25.3x
114.2x
Q4 23
24.3x
96.4x
Q1 24
23.7x
87.2x
Q2 24
22.9x
82.7x
Q3 24
22.0x
77.2x
Q4 24
20.7x
74.6x
Q1 25
19.9x
70.0x
Q2 25
18.9x
66.4x
Q3 25
18.0x
63.1x
Q4 25
17.2x
60.7x
marketcaparena.com
Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
$371M
$177M
Q2 23
$666M
$487M
Q3 23
$548M
$292M
Q4 23
$228M
-$207M
Q1 24
$265M
$24M
Q2 24
$621M
$311M
Q3 24
$707M
$459M
Q4 24
$823M
$511M
Q1 25
$582M
$465M
Q2 25
$715M
$560M
Q3 25
$841M
$736M
Q4 25
$893M
$730M
marketcaparena.com
Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$194M
Q2 23
$178M
Q3 23
$256M
Q4 23
$436M
Q1 24
$242M
Q2 24
$309M
Q3 24
$248M
Q4 24
$312M
Q1 25
$117M
Q2 25
$155M
Q3 25
$105M
Q4 25
$163M
marketcaparena.com
OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
+14.0%
+21.2%
Q2 23
+15.4%
+15.0%
Q3 23
+12.0%
+10.3%
Q4 23
+16.5%
+15.3%
Q1 24
+11.5%
+8.6%
Q2 24
+14.5%
+11.6%
Q3 24
+16.9%
+14.3%
Q4 24
+25.2%
+13.6%
Q1 25
+19.2%
+17.9%
Q2 25
+21.4%
+17.6%
Q3 25
+22.9%
+19.5%
Q4 25
+18.8%
+19.3%
marketcaparena.com
Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$140M
8.2%
Q2 23
$147M
8.3%
Q3 23
$156M
9.0%
Q4 23
$150M
7.8%
Q1 24
$153M
8.1%
Q2 24
$174M
8.6%
Q3 24
$173M
8.5%
Q4 24
$177M
7.3%
Q1 25
$185M
8.2%
Q2 25
$196M
8.0%
Q3 25
$204M
8.1%
Q4 25
$203M
7.1%
marketcaparena.com
OpEx Breakdown
R&D
SG&A
Quarter
R&D
SG&A
Q1 23
$245M
$481M
Q2 23
$244M
$464M
Q3 23
$249M
$452M
Q4 23
$260M
$567M
Q1 24
$285M
$492M
Q2 24
$280M
$525M
Q3 24
$286M
$511M
Q4 24
$295M
$613M
Q1 25
$316M
$563M
Q2 25
$313M
$561M
Q3 25
$329M
$573M
Q4 25
$353M
$687M
marketcaparena.com
Revenue Segments
Instruments and Accessories
Services
Systems
Quarter
Instruments and Accessories
Services
Systems
Q1 23
$986M
$283M
$427M
Q2 23
$1.1B
$287M
$393M
Q3 23
$1.1B
$293M
$379M
Q4 23
$1.1B
$304M
$480M
Q1 24
$1.2B
$314M
$418M
Q2 24
$1.2B
$317M
$448M
Q3 24
$1.3B
$329M
$445M
Q4 24
$1.4B
$347M
$655M
Q1 25
$1.4B
$363M
$523M
Q2 25
$1.5B
$391M
$575M
Q3 25
$1.5B
$396M
$590M
Q4 25
$1.7B
$422M
$786M
marketcaparena.com
Revenue by Geography
Geographic Distribution, Domestic
Geographic Distribution, Foreign
Quarter
Geographic Distribution, Domestic
Geographic Distribution, Foreign
Q1 25
$1.5B
$715M
Q2 25
$1.6B
$811M
Q3 25
$1.7B
$788M
Q4 25
$1.9B
$936M
marketcaparena.com
War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$2.1B
$2.5B
$4.7B
Q2 23
$3.4B
$2.4B
$5.8B
Q3 23
$3.6B
$2.9B
$6.5B
Q4 23
$2.8B
$2.5B
$5.2B
Q1 24
$2.8B
$2.0B
$4.8B
Q2 24
$3.0B
$1.7B
$4.8B
Q3 24
$2.4B
$1.8B
$4.2B
Q4 24
$2.0B
$2.0B
$4.0B
Q1 25
$2.6B
$1.9B
$4.5B
Q2 25
$3.4B
$1.9B
$5.3B
Q3 25
$2.8B
$2.1B
$4.9B
Q4 25
$3.4B
$2.6B
$5.9B
marketcaparena.com
Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
356M
-0.3%
Q2 23
357M
+0.4%
Q3 23
358M
+0.3%
Q4 23
358M
+0.0%
Q1 24
361M
+0.6%
Q2 24
361M
+0.1%
Q3 24
363M
+0.5%
Q4 24
364M
+0.3%
Q1 25
365M
+0.2%
Q2 25
364M
-0.1%
Q3 25
362M
-0.6%
Q4 25
360M
-0.4%
marketcaparena.com
Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 14
$716K
3K
FY 15
$743K
3K
FY 16
$720K
4K
FY 17
$704K
4K
FY 18
$674K
6K
FY 19
$611K
7K
FY 20
$539K
8K
FY 21
$583K
10K
FY 22
$513K
12K
FY 23
$521K
14K
FY 24
$534K
16K
FY 25
$591K
17K
marketcaparena.com