ISRG vs MDLN: Intuitive Surgical and Medline compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Intuitive Surgical is the larger company, worth $153.4B, about 5.4 times Medline.
- Intuitive Surgical grew revenue faster over the last year (+18.5% vs +11.5%).
- Intuitive Surgical keeps more of each dollar of revenue as operating profit (31.3% vs 7.8%).
- Intuitive Surgical's price assumes faster free cash flow growth: about 20% a year, against 6% for Medline (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ISRG | MDLN |
|---|---|---|
| Market cap | $153.4B | $28.5B |
| Share price | $423.96 | $36.26 |
| Revenue (last fiscal year) | $10.1B | $28.4B |
| Free cash flow (last fiscal year) | $2.5B | $1.3B |
| Revenue growth, last year | +18.5% | +11.5% |
| Revenue growth per year, last 5 fiscal years | +15.2% | +10.6% |
| Operating margin | 31.3% | 7.8% |
| Net margin | 28.4% | 4.1% |
| Return on equity | 17.3% | 10.0% |
| P/E (trailing) | 52.8x | — |
| Price / free cash flow | 61.6x | 16.4x |
| EV / EBITDA | 32.5x | 13.1x |
| FCF growth the price implies | 19.8% | 6.2% |
| Dividend yield | — | — |
| Debt / equity | 0.14x | 1.75x |
| Fundamental grade | B | C |
| Superinvestors holding it | 7 | 4 |
| Insider purchases, last 12 months | 8 | 2 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Intuitive Surgical
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $5.7B | $1.7B | 31.9% |
| 2022 | $6.2B | $958M | 25.3% |
| 2023 | $7.1B | $750M | 24.8% |
| 2024 | $8.4B | $1.3B | 28.1% |
| 2025 | $10.1B | $2.5B | 29.3% |
Medline
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2023 | $23.2B | $1.4B | 5.4% |
| 2024 | $25.5B | $1.4B | 8.4% |
| 2025 | $28.4B | $1.3B | 7.8% |
Where the revenue comes from
Intuitive Surgical · by products, 2025
Instruments and accessories$6.0B60%
Systems$2.5B25%
Service$1.6B16%
Medline · by segments, 2025
Supply Chain Solutions$14.7B52%
Medline Brand$13.7B48%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ISRG in InvestinglyQuestions
Which is bigger, Intuitive Surgical or Medline?
Intuitive Surgical (ISRG), at $153.4B against $28.5B.
Which grows faster, ISRG or MDLN?
Intuitive Surgical: revenue grew +18.5% over the last year, against +11.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.