Intuitive Surgical Inc
ISRG- Exchange
- Nasdaq
- Industry
- Orthopedic, Prosthetic & Surgical Appliances & Supplies
- SEC CIK
- 0001035267
In the last 90 days, Intuitive Surgical Inc insiders filed 0 open-market purchases and 14 sales; 2,273 institutions reported holding it in 13F filings for Q2 2026, worth $122.0B in total; 3 superinvestors hold it, including Coatue Management and D1 Capital Partners.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 22, 2026, 1:07 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 14, 2026 | Jan 15, 2025 | Jan 9, 2024 | Jan 11, 2023 | Jan 12, 2022 |
| Revenue | $10.1B | $8.35B | $7.12B | $6.22B | $5.71B |
| Cost of revenue | $3.42B | $2.72B | $2.39B | $2.03B | $1.75B |
| Gross profit | $6.64B | $5.63B | $4.73B | $4.20B | $3.96B |
| Operating expenses | $3.70B | $3.29B | $2.96B | $2.62B | $2.14B |
| Research and development | $1.31B | $1.15B | $998.8M | $879.0M | $671.0M |
| Selling, general and administrative | $2.38B | $2.14B | $1.96B | $1.74B | $1.47B |
| Operating income | $2.95B | $2.35B | $1.77B | $1.58B | $1.82B |
| Income tax | $434.8M | $336.3M | $141.6M | $262.4M | $162.2M |
| Net income | $2.86B | $2.32B | $1.80B | $1.32B | $1.70B |
| EPS, basic | $8.00 | $6.54 | $5.12 | $3.72 | $4.79 |
| EPS, diluted | $7.87 | $6.42 | $5.03 | $3.65 | $4.66 |
| Weighted shares, basic | 356.9M | 355.2M | 351.2M | 355.7M | 356.1M |
| Weighted shares, diluted | 362.7M | 362.0M | 357.4M | 362.0M | 365.8M |
| Margins and growth | |||||
| Gross margin | 66.0% | 67.5% | 66.4% | 67.4% | 69.3% |
| Operating margin | 29.3% | 28.1% | 24.8% | 25.3% | 31.9% |
| Net margin | 28.4% | 27.8% | 25.2% | 21.3% | 29.9% |
| Revenue growth, year over year | +20.5% | +17.2% | +14.5% | +9.0% | +31.0% |
| Net income growth, year over year | +23.0% | +29.2% | +36.0% | −22.4% | +60.7% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 14, 2026 | Jan 15, 2025 | Jan 9, 2024 | Jan 11, 2023 | Jan 12, 2022 |
| Cash and equivalents | $3.37B | $2.03B | $2.75B | $1.58B | $1.29B |
| Short-term investments | $2.57B | $1.99B | $2.47B | $2.54B | $2.91B |
| Accounts receivable | $1.53B | $1.23B | $1.13B | $942.1M | $782.7M |
| Inventory | $1.84B | $1.49B | $1.22B | $893.2M | $587.1M |
| Total current assets | $9.78B | $7.11B | $7.89B | $6.25B | $5.84B |
| Property, plant and equipment | $5.34B | $4.65B | $3.54B | $2.37B | $1.88B |
| Goodwill | $370.3M | $347.5M | $348.7M | $348.5M | $343.6M |
| Intangible assets | $17.1M | $23.0M | $39.1M | $49.8M | $70.5M |
| Total assets | $20.5B | $18.7B | $15.4B | $13.0B | $13.6B |
| Accounts payable | $255.1M | $193.4M | $188.7M | $147.0M | $121.2M |
| Total current liabilities | $2.01B | $1.75B | $1.66B | $1.42B | $1.15B |
| Total liabilities | $2.52B | $2.21B | $2.04B | $1.86B | $1.60B |
| Shareholders' equity | $17.9B | $16.5B | $13.4B | $11.1B | $12.0B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 14, 2026 | Jan 15, 2025 | Jan 9, 2024 | Jan 11, 2023 | Jan 12, 2022 |
| Operating cash flow | $3.03B | $2.42B | $1.81B | $1.49B | $2.09B |
| Capital expenditures | $539.8M | $1.11B | $1.06B | $532.4M | $353.5M |
| Free cash flow | $2.49B | $1.30B | $749.6M | $958.4M | $1.74B |
| Stock-based compensation | $788.2M | $676.8M | $592.8M | $513.2M | $449.2M |
| Share buybacks | $2.30B | $0 | $416.3M | $2.61B | $0 |
| Investing cash flow | $665.8M | -$3.27B | -$360.1M | $1.37B | -$2.46B |
| Financing cash flow | -$2.36B | $150.9M | -$287.6M | -$2.57B | $43.0M |
| Net change in cash | $1.34B | -$707.7M | $1.17B | $294.7M | -$332.5M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 7.8% | 8.1% | 8.3% | 8.2% | 7.9% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 15, 2026 | 346.6M | −2.2% | SEC |
| Jul 16, 2026 | 353.3M | −1.5% | SEC |
| Apr 15, 2026 | 354.2M | −1.2% | SEC |
| Jan 28, 2026 | 355.1M | −0.4% | SEC |
| Oct 16, 2025 | 354.5M | −0.5% | SEC |
| Jul 17, 2025 | 358.5M | +0.9% | SEC |
| Apr 15, 2025 | 358.4M | +1.0% | SEC |
| Jan 27, 2025 | 356.7M | +1.2% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits. Stock splits since Dec 31, 2020, from 13F share counts: 3-for-1 in Q4 2021.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.