Financials Intuitive Surgical, Inc.

Equities

ISRG

US46120E6023

Advanced Medical Equipment & Technology

Market Closed - Nasdaq 04:00:00 2024-04-26 pm EDT 5-day change 1st Jan Change
375.3 USD +0.59% Intraday chart for Intuitive Surgical, Inc. +2.45% +11.26%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 68,321 96,172 128,355 93,771 118,775 133,132 - -
Enterprise Value (EV) 1 67,154 94,550 127,064 92,189 116,025 127,939 125,379 122,062
P/E ratio 51.2 x 92.8 x 77.1 x 72.7 x 67.1 x 68.1 x 59.3 x 49.7 x
Yield - - - - - - - -
Capitalization / Revenue 15.3 x 22.1 x 22.5 x 15.1 x 16.7 x 16.6 x 14.3 x 12.5 x
EV / Revenue 15 x 21.7 x 22.3 x 14.8 x 16.3 x 15.9 x 13.5 x 11.4 x
EV / EBITDA 35 x 54.6 x 48.4 x 37.1 x 41.2 x 41.3 x 34 x 28.1 x
EV / FCF 57.3 x 82.7 x 73.2 x 96.2 x 155 x 59.5 x 52.2 x 38.6 x
FCF Yield 1.75% 1.21% 1.37% 1.04% 0.65% 1.68% 1.92% 2.59%
Price to Book 8.3 x 8.62 x 10.8 x 8.41 x 9.06 x 8.36 x 6.69 x 5.56 x
Nbr of stocks (in thousands) 346,721 352,666 357,237 353,385 352,072 354,706 - -
Reference price 2 197.0 272.7 359.3 265.4 337.4 375.3 375.3 375.3
Announcement Date 1/23/20 1/21/21 1/20/22 1/24/23 1/23/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,478 4,358 5,710 6,222 7,124 8,026 9,304 10,681
EBITDA 1 1,920 1,732 2,625 2,487 2,819 3,098 3,692 4,340
EBIT 1 1,785 1,515 2,315 2,149 2,397 2,645 3,166 3,752
Operating Margin 39.85% 34.75% 40.54% 34.53% 33.65% 32.95% 34.03% 35.13%
Earnings before Tax (EBT) 1 1,502 1,207 1,890 1,607 1,959 2,223 2,673 3,114
Net income 1 1,379 1,061 1,705 1,322 1,798 1,961 2,267 2,661
Net margin 30.8% 24.33% 29.85% 21.25% 25.24% 24.43% 24.37% 24.91%
EPS 2 3.847 2.940 4.660 3.650 5.030 5.512 6.325 7.558
Free Cash Flow 1 1,173 1,143 1,736 958.4 749.6 2,149 2,402 3,162
FCF margin 26.18% 26.23% 30.4% 15.4% 10.52% 26.77% 25.81% 29.61%
FCF Conversion (EBITDA) 61.06% 66.03% 66.12% 38.54% 26.59% 69.36% 65.04% 72.87%
FCF Conversion (Net income) 85.01% 107.8% 101.84% 72.48% 41.69% 109.6% 105.94% 118.85%
Dividend per Share 2 - - - - - - - -
Announcement Date 1/23/20 1/21/21 1/20/22 1/24/23 1/23/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 1,551 1,488 1,522 1,557 1,655 1,696 1,756 1,744 1,928 1,891 1,969 1,991 2,172 2,173 2,277
EBITDA 1 668.8 611 611 636.5 628.4 627.4 709.9 732.3 744.2 734.2 757.4 784.7 839 831.2 895.3
EBIT 1 587.9 533.2 531.2 554.6 529.8 534.7 617.6 623.7 621 630 647.9 666.6 702 734.7 781.6
Operating Margin 37.91% 35.84% 34.9% 35.61% 32.01% 31.52% 35.17% 35.77% 32.2% 33.32% 32.9% 33.47% 32.33% 33.82% 34.33%
Earnings before Tax (EBT) 1 454.2 402.4 406.9 402.8 394.7 421.8 499.2 522 515.9 538.5 556.7 561.3 596 619 660.7
Net income 1 380.6 365.6 307.8 324 324.9 355.3 420.8 415.7 606.2 544.9 458.6 462.9 497.1 507.2 534.7
Net margin 24.54% 24.57% 20.22% 20.8% 19.63% 20.95% 23.96% 23.84% 31.44% 28.82% 23.29% 23.25% 22.89% 23.35% 23.49%
EPS 2 1.040 1.000 0.8500 0.9000 0.9100 1.000 1.180 1.160 1.690 1.510 1.288 1.300 1.380 1.426 1.516
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 1/20/22 4/21/22 7/21/22 10/18/22 1/24/23 4/18/23 7/20/23 10/19/23 1/23/24 4/18/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 1,168 1,623 1,291 1,581 2,750 5,193 7,753 11,070
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 1,173 1,143 1,736 958 750 2,149 2,402 3,162
ROE (net income / shareholders' equity) 20.4% 13.6% 16.8% 14.7% 14.7% 14.7% 14.6% 14.3%
ROA (Net income/ Total Assets) 17.4% 11.7% 14.7% 13.2% 12.7% 12.8% 12.9% 12.7%
Assets 1 7,949 9,065 11,607 9,995 14,208 15,377 17,573 20,931
Book Value Per Share 2 23.70 31.60 33.30 31.50 37.20 44.90 56.10 67.60
Cash Flow per Share 2 4.460 4.110 5.710 4.120 5.080 8.270 9.190 10.60
Capex 1 426 342 354 532 1,064 1,095 1,023 1,021
Capex / Sales 9.5% 7.84% 6.19% 8.56% 14.94% 13.64% 10.99% 9.56%
Announcement Date 1/23/20 1/21/21 1/20/22 1/24/23 1/23/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
30
Last Close Price
375.3 USD
Average target price
420.3 USD
Spread / Average Target
+11.98%
Consensus
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