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NasdaqGS · Healthcare · Financials

Intuitive Surgical Inc (ISRG) financial statements and cash flow.

Revenue, profitability, balance-sheet strength, and cash generation for ISRG. Market data source · as of 2026-06-30.

Section freshness

Price Jul 31, 4:00 PM EDT · Statements Jun 29, 8:00 PM EDT

Financial read

ISRG latest financial snapshot.

Start with the latest reported values below. Deeper quarterly and annual statement tables follow when supplied.

Revenue

$2.89B

+18.5% YoY

Net income

$818.10M

-0.4% QoQ

Gross margin

67.78%

Gross profit $1.96B

Net margin

28.29%

Operating margin 33.60%

Balance sheet coverage

ISRG balance sheet summary

Assets, liabilities, liquidity, debt, and equity sit beside income and cash-flow tables so the statement history reads as one model-ready dataset.

20 quarterly · 4 annual rows · Market data source · as of 2026-06-30

Open balance sheet table

Latest period

Q2 FY2026

20 quarterly · 4 annual rows

Assets / liabilities

$20.88B

Liabilities $2.58B

Cash / debt

$2.76B

Net cash —

Equity / working capital

$18.17B

Working capital $7.62B

Financial statements

ISRG statement coverage.

Income statement, balance sheet, and cash-flow figures for ISRG, with quarterly and annual history in the tables below.

Data last updated

Jun 29, 2026

Income periods

Balance-sheet periods

Cash-flow periods

Quarterly and annual ISRG statements, sourced from Market data source · as of 2026-06-30.

Financial statement period

ISRG statement history

Market data source · as of 2026-06-30 · Data last updated: Jun 29, 2026

ProfitabilityIncome statementRevenue, expenses, margins, and income quality20 quarterly periods Capital structureBalance sheetAssets, liabilities, debt, equity, and share count20 quarterly periods Cash generationCash flowOperating cash flow, CapEx, FCF, buybacks, and dividends20 quarterly periods

Income statement

Quarterly and annual rows for revenue, operating leverage, earnings quality, and margin direction.

8 / 20 Quarterly

Period	Revenue	Gross profit	Operating income	Net income	Net margin	Revenue QoQ	Net income QoQ
Q2 FY2026	$2.89B	$1.96B	$971.90M	$818.10M	28.29%	+4.4%	-0.4%
Q1 FY2026	$2.77B	$1.83B	$855.30M	$821.50M	29.65%	-3.3%	+3.4%
Q4 FY2025	$2.87B	$1.90B	$864.30M	$794.80M	27.73%	+14.4%	+12.8%
Q3 FY2025	$2.51B	$1.66B	$759.70M	$704.40M	28.12%	+2.7%	+7.0%
Q2 FY2025	$2.44B	$1.62B	$743.40M	$658.40M	26.98%	+8.3%	-5.7%
Q1 FY2025	$2.25B	$1.46B	$578.10M	$698.40M	30.99%	-6.6%	+1.9%
Q4 FY2024	$2.41B	$1.64B	$734.90M	$685.70M	28.41%	+18.4%	+21.3%
Q3 FY2024	$2.04B	$1.37B	$577.30M	$565.10M	27.73%	+1.4%	+7.2%

Balance sheet

Balance-sheet history for assets, liabilities, liquidity, debt, equity, and shares outstanding.

8 / 20 Quarterly

Period	Cash	Current assets	Current liabilities	Total assets	Total liabilities	Total equity
Q2 FY2026	$2.76B	$9.54B	$1.92B	$20.88B	$2.58B	$18.17B
Q1 FY2026	$2.01B	$8.81B	$1.91B	$20.11B	$2.51B	$17.47B
Q4 FY2025	$3.37B	$9.78B	$2.01B	$20.46B	$2.52B	$17.82B
Q3 FY2025	$2.81B	$8.53B	$1.80B	$19.35B	$2.31B	$16.93B
Q2 FY2025	$3.40B	$8.75B	$1.69B	$20.16B	$2.21B	$17.85B
Q1 FY2025	$2.57B	$7.66B	$1.54B	$19.22B	$2.01B	$17.11B
Q4 FY2024	$2.03B	$7.11B	$1.75B	$18.74B	$2.21B	$16.43B
Q3 FY2024	$2.41B	$7.22B	$1.68B	$17.74B	$2.07B	$15.58B

Cash flow

Operating cash generation, capital expenditure, free cash flow, buybacks, dividends, and cash movement.

8 / 20 Quarterly

Period	Operating cash flow	Net income	Dividends paid	Buybacks
Q2 FY2026	$1.06B	$818.10M		$320.30M
Q1 FY2026	$911.90M	$821.50M		$1.12B
Q4 FY2025	$892.50M	$794.80M		$201.00M
Q3 FY2025	$841.00M	$704.40M	—	$1.91B
Q2 FY2025	$715.40M	$658.40M		$181.00M
Q1 FY2025	$581.60M	$698.40M		—
Q4 FY2024	$822.60M	$685.70M		—
Q3 FY2024	$706.50M	$565.10M	—	—

Valuation and returns

Enterprise value: $123.83B; TECHi computed

Return on equity: 17.28%; Market data source

Return on assets: 15.04%; Market data source

Ratio values use provider-attributed fields when available and otherwise fall back to TECHi statement math from the visible rows on this page.

Annual revenue and income multiples

Annual sales and income multiple reads use the latest annual statement when available, then fall back to trailing-twelve-month statement math from the visible quarterly rows.

Annual revenue base: $10.06B; Annual statement 2025-12-31

Annual income base: $2.86B; Annual statement 2025-12-31

Market cap / annual revenue: 12.58; Live market value divided by annual revenue

Market cap / annual income: 44.32; Live market value divided by annual net income

Annual sales and income multiple

EV / annual revenue12.30

EV / annual operating income42.04

Market capitalization bridge

Market cap / annual revenue12.58

Market cap / annual income44.32

TTM valuation multiples

TTM revenue: $11.03B; Trailing twelve months

TTM EBIT: $3.45B; TTM operating income

Market cap / TTM revenue: 11.47; Live market value divided by trailing twelve months revenue

EV / TTM revenue: 11.22; Enterprise value divided by trailing twelve months revenue

Live market value is matched against trailing-twelve-month statement bases first so the multiple moves with the tape instead of anchoring to stale fiscal-year rows.

Profit multiples

Market cap / TTM net income40.33

EV / TTM EBIT35.88

Revenue, net income, and free cash flow

Revenue$2.89BNet income$818.10M

Q1 FY2025Q4 FY2025Q2 FY2026

Quarterly statement rows, shown on one common dollar scale so margin compression and cash conversion stand out quickly.

Efficiency

Growth vs cost pressure

Revenue growth YoY+18.5%

Operating expense growth YoY+13.0%

Quarterly margin heatmap

Gross margin

Q1 FY2025

64.69%

Q2 FY2025

66.31%

Q3 FY2025

66.36%

Q4 FY2025

66.44%

Q1 FY2026

66.06%

Q2 FY2026

67.78%

Operating margin

Q1 FY2025

25.65%

Q2 FY2025

30.47%

Q3 FY2025

30.33%

Q4 FY2025

30.15%

Q1 FY2026

30.87%

Q2 FY2026

33.60%

Net margin

Q1 FY2025

30.99%

Q2 FY2025

26.98%

Q3 FY2025

28.12%

Q4 FY2025

27.73%

Q1 FY2026

29.65%

Q2 FY2026

28.29%

Latest quarter expense mix

Cost of revenue$931.90M

Operating expenses$988.50M

R&D$370.60M

SG&A$617.90M

Profit bridge

EBIT$971.90M

Pretax income$1.05B

Tax expense$231.40M

Other income statement lines

Income before tax$1.05B

Income tax expense$231.40M

Balance sheet · Q2 FY2026

Cash & equivalents: $2.76B

Total equity: $18.17B

Balance sheet detail

Current assets: $9.54B

Current liabilities: $1.92B

Inventory: $2.03B

Receivables: $1.67B

Property, plant & equipment: $5.55B

Debt and liquidity

Quick ratioi2.31

Cash + short-term investments + receivables / current liabilities

Cash generation

Operating cash flow: $1.06B

Capital returned: $320.30M; Buybacks + dividends paid

Cash-flow detail

Investing cash flow: -$26.60M

Financing cash flow: -$287.90M

Buybacks: $320.30M

Net buybacks: $320.30M; Repurchases less stock issuance

Frequently asked

Common questions.

What financial data is available for ISRG?

The ISRG Financials page renders only the current income-statement, balance-sheet, cash-flow, or fund rows supplied for Intuitive Surgical Inc. Missing modules and empty line items are omitted.

How current are ISRG's financial statements?

Each visible statement row keeps its reported period and provider attribution. The route redirects to the main quote when no usable financial or fund data remains.

What is Intuitive Surgical Inc's reported net margin?

Intuitive Surgical Inc's fresh reported margin field is 28.45%. The Financials page shows the supporting period data currently available for ISRG.