Intuitive Surgical (ISRG)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $146.4B, Intuitive Surgical's free cash flow of $2.5B (fiscal 2025) would need to grow about 19% a year for the stock to be worth today's price. That is faster than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Intuitive Surgical's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from ISRG's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Intuitive Surgical's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $5.7B | $6.2B | $7.1B | $8.4B | $10.1B |
| Net income | $1.7B | $1.3B | $1.8B | $2.3B | $2.9B |
| Free cash flow | $1.7B | $958M | $750M | $1.3B | $2.5B |
| EPS (diluted) | $4.66 | $3.65 | $5.03 | $6.42 | $7.87 |
| Operating margin | 31.9% | 25.3% | 24.8% | 28.1% | 29.3% |
Where the revenue comes from
Revenue by products, fiscal 2025.
Superinvestors who own ISRG
From each investor's latest 13F filing (what a 13F shows). 7 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Hersh Cohen ClearBridge Investments |
Trimmed | $483M | 0.40% | Q2 2026 |
| Philippe Laffont Coatue Management |
Trimmed | $316M | 0.65% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $134M | 0.05% | Q2 2026 |
| Ron Baron Baron Capital (BAMCO) |
Trimmed | $37M | 0.06% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $10M | 0.02% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
Added | $6M | 0.05% | Q2 2026 |
| Eric Marshall Hodges Capital Management |
Trimmed | $233,438 | 0.02% | Q2 2026 |
Insider buying
Open-market purchases by Intuitive Surgical's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 23, 2026 | Ro Khanna |
0 | $478.04 | — |
| Mar 23, 2026 | Ro Khanna |
0 | $478.04 | — |
| Feb 24, 2026 | Ro Khanna |
0 | $494.02 | — |
| Feb 24, 2026 | Ro Khanna |
0 | $494.02 | — |
| Feb 5, 2026 | Ro Khanna |
0 | $476.32 | — |
| Feb 5, 2026 | Ro Khanna |
0 | $476.32 | — |
| Jan 30, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $504.22 | — |
| Jan 30, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $504.22 | — |
Get an alert at your buy price
Pick the price you'd be interested at. We'll email you when ISRG trades at or below it.
Free accounts get 3 price alerts. No card needed.
In the full deep dive
Questions
What growth does Intuitive Surgical's stock price imply?
At a market value of $146.4B, Intuitive Surgical would need its free cash flow to grow about 19% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 10% a year.
Are Intuitive Surgical insiders buying the stock?
8 open-market insider purchases of ISRG in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Intuitive Surgical?
7 of the superinvestors Investingly tracks hold ISRG in their latest 13F, including Hersh Cohen, Philippe Laffont, Cliff Asness.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.