Intuitive Surgical
What matters nowUpdated 5 h ago
- Latest: the da Vinci 5 received a CE mark for adult cardiac surgery in Europe, covering coronary artery bypass, according to trade press reporting on September 25, 2026 1. Earlier in September the da Vinci SP won a CE mark for transvaginal gynecologic procedures 2, and da Vinci 5 was introduced in India on September 18 3.
- The stock traded at 422.73 on the pooled 24/7 venue price, down 1.06% from the previous close of 427.24. Recent large moves were +3.48% on October 5, -5.27% on September 8, -6.13% on August 20 and +5.56% on August 3.
- Fundamentals for the twelve months to June 30, 2026: revenue of $11.03 billion, up 20.7% year on year, gross margin of 66.7%, operating margin of 31.3% and EPS of $8.72, up 21.4%. At a $149.6 billion market cap the stock trades on 48.5 times earnings with a 2.2% free cash flow yield. Second-quarter placements reached 468 da Vinci systems versus 395 a year earlier, 246 of them da Vinci 5, lifting the installed base to 11,710.
- Insiders sold about $8.08 million of stock over the last 180 days across 34 planned sales and bought none. Controller Fredrik Widman sold 1,089 shares at $374.44 on September 15 under a 10b5-1 plan 4.
- Next: Q3 2026 earnings and the conference call are expected on October 21, 2026 at 20:30 UTC, not yet confirmed, and Q4 and full-year results are expected on January 26, 2027. The September CPI release is due October 14 at 12:30 UTC. Polymarket odds for the October 2026 Fed meeting put no change at 81.5% and a 25 bp hike at 17.5%.
MedTech Dive · Sep 25
MedTech Dive · Sep 15
Business Wire India (via UNI) · Sep 18
SEC EDGAR, Form 4 · Sep 15
Intuitive Surgical makes the da Vinci robotic surgery systems, the instruments and accessories used with them, the Ion robotic bronchoscopy platform for lung procedures, and the services that keep the installed base running. Hospitals buy or lease da Vinci systems and then pay for each procedure through instruments and accessories, which makes procedure volume the main driver of results. Revenue for 2025 was $10.06 billion, up 21% from the prior year, and the da Vinci installed base was 11,710 systems at June 30, 2026.
How it makes money
Intuitive sells or leases da Vinci systems to hospitals and surgical centers, and earns recurring revenue on every procedure through single-use instruments and accessories. Service contracts on the installed base add steady revenue on top of system sales. The company also sells Ion systems and their consumables for lung procedures. Growth depends on the number of procedures performed each quarter, the rate at which new systems are placed, and the mix of newer da Vinci 5 systems.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
da Vinci surgical systems
Q2 2026 placements rose to 468 systems, up from 395 a year earlier, and the installed base reached 11,710.
da Vinci 5
The newest da Vinci generation accounted for 246 of the 468 systems placed in Q2 2026 and is now sold in Japan and Europe.
Instruments and accessories
Revenue grew 18% to $1.73 billion in Q2 2026, driven by about 15% da Vinci procedure growth and about 36% Ion procedure growth.
Services
Service revenue was $472.4 million in Q2 2026 and $1.57 billion for 2025.
Latest newsAll news →
da Vinci 5 receives CE mark for adult cardiac surgery in Europe
The da Vinci 5 system has received a CE mark for adult cardiac surgery in Europe, including coronary artery bypass procedures, according to trade press reporting on September 25, 2026.
Intuitive introduces da Vinci 5 in India with a focused rollout
Intuitive announced a focused introduction of da Vinci 5 in India, letting selected hospitals and programs build experience with the platform.
da Vinci SP gets CE mark for transvaginal gynecologic procedures in Europe
Europe's CE mark now covers the da Vinci SP single-port system for transvaginal gynecologic procedures, which the company describes as a world first for the platform.
Controller Fredrik Widman exercises options and sells 1,089 shares
Fredrik Widman, vice president and corporate controller, exercised 546 and 543 stock options and sold the same number of shares at $374.44 on September 15, 2026.
Brosius sells 77 shares on August 20 and 21 at $396.37 and $375.57
Mark Brosius sold 77 shares on each of August 20 and August 21, 2026, at $396.37 and $375.57.
Brosius sells 77 shares a day on August 17 to 19 under trading plan
Mark Brosius sold 77 shares on each of August 17, 18 and 19, 2026, at prices between about $390 and $394.
Products & businesses
da Vinci surgical systems
Q2 2026 placements rose to 468 systems, up from 395 a year earlier, and the installed base reached 11,710.
da Vinci 5
The newest da Vinci generation accounted for 246 of the 468 systems placed in Q2 2026 and is now sold in Japan and Europe.
Instruments and accessories
Revenue grew 18% to $1.73 billion in Q2 2026, driven by about 15% da Vinci procedure growth and about 36% Ion procedure growth.
Services
Service revenue was $472.4 million in Q2 2026 and $1.57 billion for 2025.
Ion endoluminal system
Ion procedures grew about 36% in Q2 2026, and 55 Ion systems were placed in the quarter.
da Vinci SP
FDA cleared expanded indications in December 2025 for inguinal hernia repair, cholecystectomy and appendectomy.
What it's building next
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Instruments and accessories Single-use surgical instruments and accessories used in each da Vinci and Ion procedure. This is the recurring, procedure-driven revenue line. | $6.02B | 59.8% | |
| Systems da Vinci surgical systems sold or leased to hospitals and surgical centers, including da Vinci 5. Placement volume drives this line. | $2.47B | 24.6% | |
| Service Service contracts and maintenance for installed da Vinci systems, which grow with the installed base. | $1.57B | 15.6% |
Fiscal 2025 · from the annual report
Valuation & fundamentals
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q2 FY2026 2026-06-30 | Q1 FY2026 2026-03-31 | Q4 FY2025 2025-12-31 | Q3 FY2025 2025-09-30 | Q2 FY2025 2025-06-30 | Q1 FY2025 2025-03-31 | Q4 FY2024 2024-12-31 | Q3 FY2024 2024-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.03B | $2.89B +19% | $2.77B +23% | $2.87Bd +19% | $2.51B +23% | $2.44B +21% | $2.25B +19% | $2.41Bd +25% | $2.04B +17% |
| Gross profit | $7.36B | $1.96B +21% | $1.83B +26% | $1.90Bd +16% | $1.66B +21% | $1.62B +18% | $1.46B +17% | $1.64Bd +29% | $1.37B +18% |
| Operating income | $3.45B | $971.9M +31% | $855.3M +48% | $864.3Md +18% | $759.7M +32% | $743.4M +31% | $578.1M +23% | $734.9Md +63% | $577.3M +24% |
| Net income | $3.14B | $818.1M +24% | $821.5M +18% | $794.8Md +16% | $704.4M +25% | $658.4M +25% | $698.4M +28% | $685.7Md +13% | $565.1M +36% |
| EPS (diluted) | $8.72 | $2.29 +27% | $2.28 +19% | $2.20d +16% | $1.95 +25% | $1.81 +24% | $1.92 +27% | $1.89d +12% | $1.56 +34% |
| Operating cash flow | $3.71B | $1.06Bd +48% | $911.9M +57% | $892.5Md +8% | $841.0Md +19% | $715.4Md +15% | $581.6M +119% | $822.6Md +260% | $706.5Md +29% |
| Capital expenditure | $483.8M | $112.6Md -27% | $103.3M -11% | $162.5Md -48% | $105.4Md -57% | $155.3Md -50% | $116.6M -52% | $312.0Md -28% | $247.9Md -3% |
| Share buybacks | $3.56B | $320.3Md +77% | $1.12B | $201.0Md | $1.91Bd | $181.0Md | $0 | $0d -100% | $0d |
| Cash & equivalents | $2.76B | $2.76B | $2.01B | $3.37B | $2.81B | $3.40B | $2.57B | $2.03B | $2.41B |
| Shares outstanding | 353.9M | 353.9M | 354.4M | 355.1M | 354.9M | 358.4M | 358.4M | 356.6M | 356.2M |
| Metric | FY2025 2025-12-31 | FY2024 2024-12-31 | FY2023 2023-12-31 | FY2022 2022-12-31 |
|---|---|---|---|---|
| Revenue | $10.06B +21% | $8.35B +17% | $7.12B +14% | $6.22B |
| Cost of revenue | $3.42B +26% | $2.72B +14% | $2.39B +18% | $2.03B |
| Gross profit | $6.64B +18% | $5.63B +19% | $4.73B +13% | $4.20B |
| Research & development | $1.31B +15% | $1.15B +15% | $998.8M +14% | $879.0M |
| Operating income | $2.95B +25% | $2.35B +33% | $1.77B +12% | $1.58B |
| EBIT | $2.95B +25% | $2.35B +33% | $1.77B +12% | $1.58B |
| Depreciation & amortization | $600.0M +37% | $439.0M +15% | $382.0M +17% | $326.0M |
| Income tax | $434.8M +29% | $336.3M +138% | $141.6M -46% | $262.4M |
| Net income | $2.86B +23% | $2.32B +29% | $1.80B +36% | $1.32B |
| EPS (diluted) | $7.87 +23% | $6.42 +28% | $5.03 +38% | $3.65 |
| Diluted shares (weighted) | 362.7M | 362.0M | 357.4M | 362.0M |
| Operating cash flow | $3.03B +25% | $2.42B +33% | $1.81B +22% | $1.49B |
| Capital expenditure | $539.8M -51% | $1.11B +4% | $1.06B +100% | $532.4M |
| Share buybacks | $2.30B | $0 -100% | $416.3M -84% | $2.61B |
| Cash & equivalents | $3.37B | $2.03B | $2.75B | $1.58B |
| Total assets | $20.46B | $18.74B | $15.44B | $12.97B |
| Total liabilities | $2.52B | $2.21B | $2.04B | $1.86B |
| Shareholders' equity | $17.82B | $16.43B | $13.31B | $11.04B |
| Shares outstanding | 355.1M | 356.6M | 352.3M | 350.0M |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
da Vinci 5 receives CE mark for adult cardiac surgery in Europe
The da Vinci 5 system has received a CE mark for adult cardiac surgery in Europe, including coronary artery bypass procedures, according to trade press reporting on September 25, 2026.
Intuitive introduces da Vinci 5 in India with a focused rollout
Intuitive announced a focused introduction of da Vinci 5 in India, letting selected hospitals and programs build experience with the platform.
da Vinci SP gets CE mark for transvaginal gynecologic procedures in Europe
Europe's CE mark now covers the da Vinci SP single-port system for transvaginal gynecologic procedures, which the company describes as a world first for the platform.
Controller Fredrik Widman exercises options and sells 1,089 shares
Fredrik Widman, vice president and corporate controller, exercised 546 and 543 stock options and sold the same number of shares at $374.44 on September 15, 2026.
Brosius sells 77 shares on August 20 and 21 at $396.37 and $375.57
Mark Brosius sold 77 shares on each of August 20 and August 21, 2026, at $396.37 and $375.57.
Brosius sells 77 shares a day on August 17 to 19 under trading plan
Mark Brosius sold 77 shares on each of August 17, 18 and 19, 2026, at prices between about $390 and $394.
EVP Mark Brosius sells 28 shares on each of July 30 and 31
Mark Brosius, an executive vice president in charge of manufacturing and supply chain, sold 28 shares on each of July 30 and July 31, 2026.
Intuitive Surgical reports fiscal Q2 2026 results: revenue $2.89B, up 19% from a year earlier
Intuitive Surgical filed a Form 8-K with the SEC on Jul 16, 2026, 4:05 PM ET, reporting an event dated Jul 16, 2026.
Intuitive sets 2026 da Vinci procedure growth guide at 13.5% to 15.5%
For full-year 2026, Intuitive expects da Vinci procedure growth of about 13.5% to 15.5%, with the company expecting to land closer to the midpoint.
Medtronic files 510(k)s to expand Hugo into general surgery and gynecology
On June 3, 2026 Medtronic said it had submitted 510(k) filings with the FDA to expand its Hugo robotic-assisted surgery system into general and gynecologic specialties in the U.S.
Taylor Patton named Chief Commercial and Marketing Officer effective July 1
Intuitive appointed Taylor Patton, previously global senior vice president of its endoluminal business, as chief commercial and marketing officer effective July 1, 2026.
Intuitive rolls out more than 100 da Vinci 5 upgrades, starting in the U.S. in June
Intuitive announced more than 100 updates and user-experience improvements for da Vinci 5.
Board lifts share repurchase authorization to $5.0 billion
On April 30, 2026 the board increased the authorized amount under the common stock repurchase program to an aggregate of $5.0 billion, including amounts still remaining under earlier authorizations.
Intuitive Q1 2026 revenue up 23% to $2.77 billion; raises 2026 procedure and margin guidance
Intuitive reported first-quarter 2026 revenue of $2.77 billion, up 23%, with non-GAAP EPS of $2.50 and GAAP EPS of $2.28.
Intuitive completes purchase of da Vinci and Ion distributors in Italy, Spain and Portugal
Intuitive completed its acquisition of the da Vinci and Ion distribution business run by ab medica, Abex and Excelencia Robótica.
FDA clears da Vinci 5 for selected thoracoscopic cardiac procedures
The FDA cleared the da Vinci 5 system through a 510(k) for selected thoracoscopically assisted cardiac procedures, including mitral valve repair and internal mammary artery mobilization.
Intuitive reports Q4 2025 revenue up 19% and guides 2026 da Vinci procedures 13% to 15%
Intuitive reported fourth-quarter 2025 revenue of $2.87 billion, up 19%, with non-GAAP EPS of $2.53 and GAAP EPS of $2.21.
Intuitive gives preliminary Q4 and full-year 2025 results ahead of JPMorgan conference
Intuitive released preliminary fourth-quarter and full-year 2025 figures on January 14, 2026, the day of its J.P.
J&J submits OTTAVA surgical robot to the FDA for upper-abdominal general surgery
Johnson & Johnson MedTech filed a De Novo request with the FDA for its OTTAVA robotic surgical system, aimed at multiple upper-abdominal general surgery procedures.
Intuitive Surgical reports fiscal Q3 2025 results: revenue $2.51B, up 23% from a year earlier
Intuitive Surgical filed a Form 8-K with the SEC on Oct 21, 2025, 4:03 PM ET, reporting an event dated Oct 21, 2025.
SEC filings
| Sep 16, 26 | 4 | Form 4: Widman Fredrik (VP Corporate Controller) — option exercise 1,089 sh, open-market sale 1,089 sh | sec.gov ↗ |
| Sep 15, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 11, 26 | 4 | Form 4: Brosius Mark (EVP & Chief Mfg and Supply Cha) — open-market sale 48 sh | sec.gov ↗ |
| Sep 9, 26 | 4 | Form 4: Brosius Mark (EVP & Chief Mfg and Supply Cha) — open-market sale 69 sh | sec.gov ↗ |
| Sep 8, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 21, 26 | 4 | Form 4: Brosius Mark (EVP & Chief Mfg and Supply Cha) — open-market sale 154 sh | sec.gov ↗ |
| Aug 19, 26 | 4 | Form 4: Brosius Mark (EVP & Chief Mfg and Supply Cha) — open-market sale 231 sh | sec.gov ↗ |
| Aug 12, 26 | 4 | Form 4: GUTHART GARY S (Director) — open-market sale 10,000 sh | sec.gov ↗ |
| Aug 11, 26 | 4 | Form 4: Ladd Amy L (Director) — open-market sale 472 sh | sec.gov ↗ |
| Aug 11, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 10, 26 | 4 | Form 4: LOEB GARY (EVP & Chief Legal and Complian) — open-market sale 400 sh | sec.gov ↗ |
| Aug 10, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 10, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Jul 31, 26 | 4 | Form 4: Brosius Mark (EVP & Chief Mfg and Supply Cha) — open-market sale 56 sh | sec.gov ↗ |
| Jul 29, 26 | 4 | Form 4: Brosius Mark (EVP & Chief Mfg and Supply Cha) — open-market sale 84 sh | sec.gov ↗ |
| Jul 27, 26 | 8-K | 8-K: Charter/Bylaw Amendment (Item 5.03) | sec.gov ↗ |
| Jul 21, 26 | S-8 | S-8: Employee plan share registration | sec.gov ↗ |
| Jul 21, 26 | 10-Q | 10-Q: Quarterly report for the period ended Jun 30, 2026 | sec.gov ↗ |
| Jul 16, 26 | 8-K | 8-K: Results of Operations (Item 2.02) | sec.gov ↗ |
| Jul 13, 26 | 4 | Form 4: Rosa David J. (Chief Executive Officer (CEO), Director) — option exercise 1,910 sh, tax withholding 947 sh | sec.gov ↗ |
| Jun 12, 26 | 4 | Form 4: Brosius Mark (EVP & Chief Mfg and Supply Cha) — open-market sale 48 sh | sec.gov ↗ |
| Jun 10, 26 | 4 | Form 4: Brosius Mark (EVP & Chief Mfg and Supply Cha) — open-market sale 69 sh | sec.gov ↗ |
| Jun 10, 26 | 4 | Form 4: LOEB GARY (EVP & Chief Legal and Complian) — open-market sale 400 sh | sec.gov ↗ |
| Jun 10, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Jun 10, 26 | 4 | Form 4: Rosa David J. (Chief Executive Officer (CEO), Director) — option exercise 1,358 sh, tax withholding 674 sh | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-09-15 | Widman Fredrik VP Corporate Controller | Sale 10b5-1 plan | 1.1K | $374.44 | $407.8K |
| 2026-09-11 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 25 | $365.79 | $9.1K |
| 2026-09-10 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 23 | $347.66 | $8.0K |
| 2026-09-09 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 23 | $350.20 | $8.1K |
| 2026-09-08 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 46 | $361.23 | $16.6K |
| 2026-08-21 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 77 | $375.57 | $28.9K |
| 2026-08-20 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 77 | $396.37 | $30.5K |
| 2026-08-19 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 77 | $394.26 | $30.4K |
| 2026-08-18 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 77 | $394.00 | $30.3K |
| 2026-08-17 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 77 | $390.67 | $30.1K |
| 2026-08-11 | Ladd Amy L Director | Sale 10b5-1 plan | 72 | $393.10 | $28.3K |
| 2026-08-11 | GUTHART GARY S Director | Sale 10b5-1 plan | 10.0K | $400.00 | $4.0M |
| 2026-08-10 | LOEB GARY EVP & Chief Legal and Complian | Sale 10b5-1 plan | 400 | $379.00 | $151.6K |
| 2026-08-10 | Ladd Amy L Director | Sale 10b5-1 plan | 400 | $379.00 | $151.6K |
| 2026-07-31 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 28 | $351.00 | $9.8K |
| 2026-07-30 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 28 | $346.83 | $9.7K |
| 2026-07-29 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 28 | $360.21 | $10.1K |
| 2026-07-28 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 28 | $365.58 | $10.2K |
| 2026-07-27 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 28 | $344.00 | $9.6K |
| 2026-06-12 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 25 | $414.13 | $10.4K |
| 2026-06-11 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 23 | $412.16 | $9.5K |
| 2026-06-10 | LOEB GARY EVP & Chief Legal and Complian | Sale 10b5-1 plan | 400 | $424.14 | $169.7K |
| 2026-06-10 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 23 | $424.14 | $9.8K |
| 2026-06-09 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 23 | $421.13 | $9.7K |
| 2026-06-08 | Brosius Mark EVP & Chief Mfg and Supply Cha | Sale 10b5-1 plan | 23 | $420.12 | $9.7K |