---
title: Intuitive Surgical (ISRG) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/isrg
ticker: ISRG
as_of: 2026-10-17
sector: Healthcare
industry: Medical - Instruments & Supplies
---
# Intuitive Surgical (ISRG)

Intuitive Surgical (ISRG) closed at $426.70 on Oct 16, 2026, overvalued by 208% vs its model value of $138.58 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $426.70 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $138.58 |
| Price vs model | overvalued by 208% vs model |
| Range of that model | $101.84 – $229.99 |
| Market value | $150.7B |
| P/E (fiscal 2025) | 54.2 |
| Net margin (fiscal 2025) | 28.4% |
| Free cash flow (fiscal 2025) | $2.5B |
| Dividend yield (trailing twelve months) | 0.00% |
| Beta | 1.46 |
| Cost of capital (WACC) | 10.51% |
| Business classification | Profitable Growth (Moderate growth (~19% recent), High profitability (28% net margin), Moderately volatile earnings) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Worst performing this year | #50 | −24.7% | https://sweetvaluelab.com/lists/worst-performing-this-year |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $138.58 | $101.84 | $229.99 |
| DCF · Perpetuity growth · 10y | cross check | $162.12 | $119.70 | $266.18 |
| DCF · EBITDA exit · 5y | cross check | $138.84 | $87.56 | $199.42 |
| DCF · EBITDA exit · 10y | cross check | $162.27 | $108.75 | $234.40 |
| P/E · peers | cross check | $204.40 | $201.71 | $210.33 |
| P/E · own history | cross check | $701.72 | $551.04 | $806.33 |
| PEG | sanity check | $178.74 | $178.74 | $178.74 |
| EV/EBITDA · peers | cross check | $117.36 | $111.23 | $161.78 |
| EV/Revenue · peers | cross check | $55.31 | $54.20 | $74.32 |
| Earnings power value | cross check | $69.43 | $61.92 | $79.43 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 20 open-market sales ($5.0M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 10, 2026 | WADORS PATRICIA L | SVP Chief Human Resources Offi | Option/RSU exercise | 2,140 | $0 |
| Oct 10, 2026 | WADORS PATRICIA L | SVP Chief Human Resources Offi | Tax withholding | 1,062 | $450,245.5 |
| Oct 10, 2026 | WADORS PATRICIA L | SVP Chief Human Resources Offi | Option/RSU exercise | 2,140 | $0 |
| Oct 10, 2026 | LOEB GARY | EVP & Chief Legal and Complian | Option/RSU exercise | 2,612 | $0 |
| Oct 10, 2026 | LOEB GARY | EVP & Chief Legal and Complian | Tax withholding | 1,296 | $549,452.2 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Jul 27, 2026 | 8-K | 5.03 Amendment to Articles/Bylaws; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1035267/000103526726000063/isrg-20260723.htm |
| Jul 21, 2026 | S-8 | Employee stock plan registration | https://www.sec.gov/Archives/edgar/data/1035267/000103526726000060/forms-82026.htm |
| Jul 21, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1035267/000103526726000058/isrg-20260630.htm |
| Jul 16, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1035267/000103526726000047/isrg-20260716.htm |
| May 28, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1035267/000103526726000042/isrg-20260528.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Polen Capital | 2026-06-30 | 447,944 | $178.1M |
| Mairs & Power | 2026-06-30 | 146,459 | $58.2M |
| Bridgewater | 2026-06-30 | 19,324 | $7.7M |

3 tracked managers in all.

## About

Intuitive Surgical, Inc. is a leading medical technology firm dedicated to advancing patient care by developing, producing, and commercializing sophisticated tools. These innovations empower medical professionals to deliver superior, accessible, and less-invasive treatment options to patients both within the United States and across international markets. Its flagship offering, the da Vinci Surgical System, facilitates intricate operations through a minimally disruptive approach. Expanding beyond surgical applications, the company also provides the Ion endoluminal system, designed for diagnostic interventions like minimally invasive lung biopsies. Complementing its primary systems, Intuitive Surgical supplies a comprehensive array of instruments, including stapling tools, energy devices, and essential core components. Furthermore, it offers structured training programs to ensure proficie…

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Source: https://sweetvaluelab.com/stocks/isrg (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.