Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 7, 2026

Intuitive Surgical Inc (ISRG)

A forensic read on Intuitive Surgical Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

A · High-quality compounder

Forensic grade

Safe

Financial health

17.2

Distress distance

Clean

Earnings quality

Forensic signals

42.0

P / E (ttm)

16.0%

ROE

$137.9B

Market cap

20.5%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Intuitive Surgical Inc earns an A (High-quality compounder) forensic quality grade, and its balance-sheet distress test reads 17.2, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by share count.

What the filings flag

+0.1%/yr

FY2022–FY2025

Share count. Diluted share count changed +0% over the last 3 years to FY2025 (+0.1%/yr). Roughly flat — buybacks ($2.3B) are about offsetting stock comp ($788M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.

92% of FCF

FY2025

Shareholder returns. Returned $2.3B to shareholders (buybacks + dividends) in FY2025 — 92% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet. That ratio has actually been EASING, not tightening further — down from ~272% of free cash flow a few years back. Counting the $788M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 124%.

Key fundamentals

Latest Revenue$10.06B

Revenue Growth YoY+20.5%

Revenue CAGR (3yr)+17.4%

Net Margin28.4%

Free Cash Flow$2.49B

Return on Equity16.0%

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Data from SEC EDGAR public filings · metrics as of Aug 7, 2026. Forensic signals flag probability, not certainty.