Intuitive Surgical, Inc.

ISRGNASDAQHealthcare● Active

$422.06

+$3.24(+0.77%)

Market Cap$149.5B

P/E Ratio—

52W High$603.88

52W Low$396.68

Avg Volume2.1M

Open$420.00

Beta1.45

Free Cash Flow Financials Revenue

Intuitive Surgical, Inc. (ISRG) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

ISRG · free cash flow · updated Jun 8, 2026

Core FCF metrics

ISRG · FCF · TTM · margin & CAGR

Free cash flow was $2.49B for FY2025 (fiscal year ending 2025-12-31), up 91.0% year-over-year The FCF margin was 24.8%. Five-year CAGR stands at +16.9%.

FY2025 Free Cash Flow$2.49B▲ +91.0% YoY

Trailing 12M (TTM)$2.83Btrailing 4 quarters sum

FCF Margin24.8%$2.49B ÷ revenue

3-Year CAGR+37.5%FY2022 → FY2025

5-Year CAGR+16.9%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

ISRG · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$3.03B(540M)$2.49B▲ +91.0%24.8%

FY2024$2.42B(1.11B)$1.30B▲ +73.9%15.6%

FY2023$1.81B(1.06B)$749.6M▼ 21.8%10.5%

FY2022$1.49B(532M)$958.4M▼ 44.8%15.4%

FY2021$2.09B(354M)$1.74B▲ +51.8%30.4%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

ISRG · P/FCF · FCF yield · FCF per share

Intuitive Surgical, Inc. (ISRG) trades at a FCF yield of 1.90% and a price-to-free-cash-flow ratio of 53.2x. FCF per share stands at $7.94, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

1.90%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$7.94

TTM FCF ÷ Shares Outstanding

Price / FCF

x53.2

Share Price ÷ FCF per Share

EV / FCF (TTM)

x52.0

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

ISRG · cash flow statement · operating / investing / financing

For FY2025, Intuitive Surgical, Inc. generated $3.03B in operating cash flow and spent 540M in capital expenditures, yielding $2.49B in free cash flow.

Operating Activities

+$3.03B

Cash from core business operations

2025-12-31

Investing Activities

+$665.8M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$2.36B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($3.03B) − |CapEx| (540M) = FCF ($2.49B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

ISRG vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Intuitive Surgical, Inc.YOU

ISRG

$2.49B+91.0%24.7%

13%

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Intuitive Surgical, Inc. (ISRG) reported free cash flow of $2.49B for FY2025 (fiscal year ending 2025-12-31), up 91.0% year-over-year. The FCF margin was 24.8%.

Based on available data, Intuitive Surgical, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $2.49B in FY2025. The 5-year CAGR stands at +16.9%.

Intuitive Surgical, Inc.'s FCF yield is 1.90% and price-to-FCF ratio is 53.2x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

ISRG free cash flow · 8 questions

Intuitive Surgical, Inc. free cash flow was $2.49B for FY2025, up 91.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $2.83B.

ISRG free cash flowISRG FCFISRG FCF 2025ISRG free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Intuitive Surgical, Inc. · Intuitive Surgical, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026