Question 1

What is Intuitive Surgical's P/FCF ratio?

Accepted Answer

Intuitive Surgical (ISRG) P/FCF ratio is 53.6× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Intuitive Surgical?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Intuitive Surgical specifically, the relevant sector benchmark is the current sector median of 19.8×.

Question 5

Is Intuitive Surgical's P/FCF ratio high or low?

Accepted Answer

Intuitive Surgical's P/FCF ratio of 53.6× is below its own 5-year average of 118.7× and above the sector median of 19.8×. That places the current reading at the 4th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Intuitive Surgical's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Intuitive Surgical (ISRG) P/FCF ratio has ranged from a low of 18.3× in 2009 to a high of 425.1× in 2024. The 5-year average is 118.7× and the 5-year median is 85.3×.

Question 7

What was Intuitive Surgical's P/FCF ratio in 2025?

Accepted Answer

Intuitive Surgical (ISRG) P/FCF ratio at the end of 2025 was 80.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Intuitive Surgical's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$201.00B	$2.49B	80.7×	-62.0×	Dec 31, 2025
2024	$186.03B	$1.30B	142.7×	-15.8×	Dec 31, 2024
2023	$118.78B	$749.60M	158.5×	+61.3×	Dec 31, 2023
2022	$93.16B	$958.40M	97.2×	+23.2×	Dec 31, 2022
2021	$128.45B	$1.74B	74.0×	-10.2×	Dec 31, 2021
2020	$96.21B	$1.14B	84.1×	+25.8×	Dec 31, 2020
2019	$68.46B	$1.17B	58.4×	+2.5×	Dec 31, 2019
2018	$54.88B	$982.20M	55.9×	+12.9×	Dec 31, 2018
2017	$40.95B	$953.20M	43.0×	+18.1×	Dec 31, 2017
2016	$24.60B	$989.00M	24.9×	-4.6×	Dec 31, 2016
2015	$20.37B	$690.90M	29.5×	-4.8×	Dec 31, 2015
2014	$19.20B	$559.50M	34.3×	+15.1×	Dec 31, 2014
2013	$14.90B	$775.40M	19.2×	-10.9×	Dec 31, 2013
2012	$19.62B	$651.40M	30.1×	-0.4×	Dec 31, 2012
2011	$18.15B	$594.70M	30.5×	+7.2×	Dec 31, 2011
2010	$10.08B	$432.00M	23.3×	-11.7×	Dec 31, 2010
2009	$11.62B	$331.64M	35.0×	+6.4×	Dec 31, 2009
2008	$4.94B	$172.26M	28.7×	-39.5×	Dec 31, 2008
2007	$12.39B	$181.68M	68.2×	+24.8×	Dec 31, 2007
2006	$3.55B	$81.79M	43.4×	-59.7×	Dec 31, 2006
2005	$4.20B	$40.73M	103.1×	-70.3×	Dec 31, 2005
2004	$1.37B	$7.88M	173.4×	—	Dec 31, 2004
2003	$569.12M	−$10.38M	—	—	Dec 31, 2003
2002	$225.89M	−$19.94M	—	—	Dec 31, 2002
2001	$362.79M	−$24.08M	—	—	Dec 31, 2001


Align Technology (ALGN)	17.8×
McKesson (MCK)	17.8×
Gilead Sciences (GILD)	16.9×
DexCom (DXCM)	16.9×
Pfizer (PFE)	16.7×
Humana (HUM)	16.4×
Quest Diagnostics (DGX)	16.3×
Labcorp Holdings (LH)	15.9×
Becton, Dickinson and (BDX)	14.0×
HCA Healthcare (HCA)	13.5×
Incyte (INCY)	12.9×
UnitedHealth Group (UNH)	12.5×
CVS Health (CVS)	12.4×
Universal Health Services (UHS)	12.2×
Baxter International (BAX)	12.1×
Cardinal Health (CAH)	11.3×
IQVIA (IQV)	10.7×
Bristol-Myers Squibb (BMY)	10.4×
Biogen (BIIB)	10.3×
Elevance Health (ELV)	10.0×
Zimmer Biomet Holdings (ZBH)	9.6×
Cigna (CI)	9.1×
Viatris (VTRS)	9.1×
DaVita (DVA)	6.9×
Centene (CNC)	2.5×

P/FCF Ratio for Intuitive Surgical (ISRG)

P/FCF Ratio daily chart for Intuitive Surgical (ISRG)

Historical P/FCF Ratio for Intuitive Surgical (ISRG) from 2001 to 2025

About P/FCF Ratio at Intuitive Surgical (ISRG)

Intuitive Surgical P/FCF Ratio by Year

Intuitive Surgical P/FCF Ratio 2025: 80.7×

Intuitive Surgical P/FCF Ratio 2024: 142.7×

Intuitive Surgical P/FCF Ratio 2023: 158.5×

Intuitive Surgical P/FCF Ratio 2022: 97.2×

Intuitive Surgical P/FCF Ratio 2021: 74.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Intuitive Surgical (ISRG) Key Financials

P/FCF Ratio daily chart for Intuitive Surgical (ISRG)

Historical P/FCF Ratio for Intuitive Surgical (ISRG) from 2001 to 2025

About P/FCF Ratio at Intuitive Surgical (ISRG)

Intuitive Surgical P/FCF Ratio by Year

Intuitive Surgical P/FCF Ratio 2025: 80.7×

Intuitive Surgical P/FCF Ratio 2024: 142.7×

Intuitive Surgical P/FCF Ratio 2023: 158.5×

Intuitive Surgical P/FCF Ratio 2022: 97.2×

Intuitive Surgical P/FCF Ratio 2021: 74.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Intuitive Surgical's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Intuitive Surgical?

+Is Intuitive Surgical's P/FCF ratio high or low?

+What is Intuitive Surgical's historical P/FCF ratio range?

+What was Intuitive Surgical's P/FCF ratio in 2025?

+Why does Intuitive Surgical's P/FCF ratio change over time?

Intuitive Surgical (ISRG) Key Financials