Question 1

What is Intuitive Surgical's P/S ratio?

Accepted Answer

Intuitive Surgical (ISRG) P/S ratio is 11.1× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

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

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Intuitive Surgical specifically, the relevant sector benchmark is the current sector median of 3.4×.

Question 5

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

Accepted Answer

Intuitive Surgical's P/S ratio of 11.1× is below its own 5-year average of 17.7× and above the sector median of 3.4×. That places the current reading at the 0th 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/S ratio range?

Accepted Answer

In the available daily series, Intuitive Surgical (ISRG) P/S ratio has ranged from a low of 3.1× in 2003 to a high of 28.1× in 2025. The 5-year average is 17.7× and the 5-year median is 18.2×.

Question 7

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

Accepted Answer

Intuitive Surgical (ISRG) P/S ratio at the end of 2025 was 20.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$201B	$10.1B	20.0×	-2.3×	Dec 31, 2025
2024	$186B	$8.35B	22.3×	+5.6×	Dec 31, 2024
2023	$119B	$7.12B	16.7×	+1.7×	Dec 31, 2023
2022	$93.2B	$6.22B	15.0×	-7.5×	Dec 31, 2022
2021	$128B	$5.71B	22.5×	+0.4×	Dec 31, 2021
2020	$96.2B	$4.36B	22.1×	+6.8×	Dec 31, 2020
2019	$68.5B	$4.48B	15.3×	+0.5×	Dec 31, 2019
2018	$54.9B	$3.72B	14.7×	+1.7×	Dec 31, 2018
2017	$40.9B	$3.13B	13.1×	+4.0×	Dec 31, 2017
2016	$24.6B	$2.7B	9.1×	+0.6×	Dec 31, 2016
2015	$20.4B	$2.38B	8.5×	-0.5×	Dec 31, 2015
2014	$19.2B	$2.13B	9.0×	+2.4×	Dec 31, 2014
2013	$14.9B	$2.27B	6.6×	-2.4×	Dec 31, 2013
2012	$19.6B	$2.18B	9.0×	-1.3×	Dec 31, 2012
2011	$18.2B	$1.76B	10.3×	+3.2×	Dec 31, 2011
2010	$10.1B	$1.41B	7.1×	-3.9×	Dec 31, 2010
2009	$11.6B	$1.05B	11.0×	+5.4×	Dec 31, 2009
2008	$4.94B	$875M	5.6×	-15.0×	Dec 31, 2008
2007	$12.4B	$601M	20.6×	+11.1×	Dec 31, 2007
2006	$3.55B	$373M	9.5×	-8.9×	Dec 31, 2006
2005	$4.2B	$227M	18.5×	+8.6×	Dec 31, 2005
2004	$1.37B	$139M	9.8×	+3.6×	Dec 31, 2004
2003	$569M	$91.7M	6.2×	+3.1×	Dec 31, 2003
2002	$226M	$72M	3.1×	—	Dec 31, 2002


Zimmer Biomet Holdings (ZBH)	2.1×
AptarGroup (ATR)	2.1×
Becton, Dickinson and (BDX)	2.1×
Charles River (CRL)	1.9×
Quest Diagnostics (DGX)	1.9×
IQVIA (IQV)	1.7×
GE HealthCare (GEHC)	1.6×
Labcorp Holdings (LH)	1.6×
HCA Healthcare (HCA)	1.4×
Solventum (SOLV)	1.4×
Viatris (VTRS)	1.1×
UnitedHealth Group (UNH)	0.8×
Baxter International (BAX)	0.8×
DaVita (DVA)	0.7×
Henry Schein (HSIC)	0.6×
Universal Health Services (UHS)	0.6×
Elevance Health (ELV)	0.4×
Teladoc Health (TDOC)	0.4×
McKesson (MCK)	0.3×
Cigna (CI)	0.3×
CVS Health (CVS)	0.2×
Cardinal Health (CAH)	0.2×
Cencora (COR)	0.2×
Humana (HUM)	0.2×
Centene (CNC)	0.1×

P/S Ratio for Intuitive Surgical (ISRG) 2002-2026

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

Historical P/S Ratio for Intuitive Surgical (ISRG) from 2002 to 2025

About P/S Ratio at Intuitive Surgical (ISRG)

Intuitive Surgical P/S Ratio by Year

Intuitive Surgical P/S Ratio 2025: 20.0×

Intuitive Surgical P/S Ratio 2024: 22.3×

Intuitive Surgical P/S Ratio 2023: 16.7×

Intuitive Surgical P/S Ratio 2022: 15.0×

Intuitive Surgical P/S Ratio 2021: 22.5×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Intuitive Surgical (ISRG) Key Financials