Intuitive Surgical Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Intuitive Surgical Inc (ISRG) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Intuitive Surgical Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 12,116M vs 231,991M combined for its competitors (5.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+9.7% annualized vs trailing 12 months), vs holding steady (+1.4%) for its tracked peer group.
- Growth: Intuitive Surgical Inc generated 32.7% revenue growth year over year in Q3 2026, vs 6.6% for its competitors combined.
- Profitability: Its 15.7% net margin compares with 8.5% for the peer group.
- Scale: Intuitive Surgical Inc ranks #1 of 246 companies by market capitalization in the Medical Equipment & Supplies industry, holding 13.7% of industry market cap.
- Peer revenue share: Intuitive Surgical Inc accounted for 5.4% of combined revenue among its tracked peer group, up from 4.3% a year earlier.
- Peer differentiation: Revenue per employee of $0.71M compares with $0.47M for the peer group (1.5x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
ISRG Sales vs. its Competitors, Q3 2026
Intuitive Surgical Inc reported revenue growth of 32.71 % year on year in Q3 2026, above its competitors' combined revenue growth of 6.59 %.
With a net margin of 15.73 %, Intuitive Surgical Inc achieved higher profitability than its competitors (8.53 %).
Intuitive Surgical Inc generated 5.35 % of the combined sales of its peer group, up from 4.34 % a year earlier.
Intuitive Surgical Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Intuitive Surgical Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Intuitive Surgical Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Intuitive Surgical Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (1) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Intuitive Surgical Inc's competitor groups requires a Commercial License.
For context: the Medical Equipment & Supplies industry grew revenue 14.5% year over year, combined, vs 32.7% for Intuitive Surgical Inc. Intuitive Surgical Inc's share of combined industry revenue moved from 2.46% to 2.85%, a gain of 0.39 percentage points.
Intuitive Surgical Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Intuitive Surgical Inc | Yes | Yes | Yes | No |
| Competitors combined (35) | ||||
| High-Confidence Competitors (6) | ||||
| Similar-Size Competitors (5) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
ISRG Stock Performance relative to its Competitors
ISRG Stock Performance relative to High-Confidence Competitors
ISRG Stock Performance relative to Similar-Size Competitors
ISRG Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Icad Inc | 282.9% | Outperformed |
| 2 | Autonomix Medical Inc | 282.9% | Outperformed |
| 3 | Pulmonx Corporation | 282.9% | Outperformed |
| 4 | Johnson and Johnson | 282.9% | Outperformed |
| 5 | Bioventus Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Intuitive Surgical Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Intuitive Surgical Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Intuitive Surgical Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Intuitive Surgical Inc |
168,618.15 | 12,115.60 |
 Johnson and Johnson |
683,404.26 | 99,335.00 |
 Thermo Fisher Scientific Inc |
258,138.09 | 47,351.00 |
 Danaher Corporation |
164,570.68 | 25,608.00 |
 Medtronic Plc |
135,539.50 | 37,542.00 |
 Stryker Corp |
132,036.73 | 26,300.00 |
| SUBTOTAL | 1,764,979.92 | 304,806.76 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Intuitive Surgical Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Intuitive Surgical Inc's Competitors Named by the Company
Competitive relationships identified from Intuitive Surgical Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Asensus Surgical Inc | Company report | 85% |
| Johnson & Johnson | Company report | 85% |
| Ss Innovations International Inc | Company report | 85% |
| Medtronic plc | Company report | 85% |
| Titan Medical Inc. | Company report | 85% |
| Medicaroid Corporation | Company report | 85% |
| CMR Surgical Ltd. | Company report | 85% |
| Harbin Sizhe Rui Intelligent Medical Equipment Co., Ltd. | Company report | 85% |
| Distalmotion SA | Company report | 85% |
| Karl Storz SE & Co. KG | Company report | 85% |
| Beijing Surgerii Robotics Company Limited | Company report | 85% |
| Innovations International, Inc. | Company report | 85% |
| Olympus Corporation | Company report | 85% |
| meerecompany Inc. | Company report | 85% |
| Shandong Weigao Group Medical Polymer Company Ltd. | Company report | 85% |
| avateramedical GmbH | Company report | 85% |
| Medrobotics Corporation | Company report | 85% |
| Samsung Electronics Co., Ltd | Company report | 85% |
| Shanghai Microport Medbot (Group) Co., Ltd. | Company report | 85% |
| MicroPort Scientific Corporation | Company report | 85% |
| Samsung Group | Company report | 85% |
| Verb Surgical Inc. | Company report | 85% |
| Auris Health, Inc. | Company report | 85% |
| Ethicon Endo-Surgery, Inc. | Company report | 85% |
| TransEnterix, Inc. | Company report | 85% |
| Vicarious Surgical Inc | Company report | 85% |
| Conmed Corporation | Company report | 85% |
| Danaher Corporation | Company report | 85% |
| Procept Biorobotics Corporation | Company report | 85% |
| Stryker Corp | Company report | 85% |
| Ir med Inc | Company report | 85% |
| Autonomix Medical Inc | Company report | 85% |
| Boston Scientific Corporation | Company report | 85% |
| Lensar Inc | Company report | 85% |
| Reshape Lifesciences Inc | Company report | 85% |
| Zimmer Biomet Holdings Inc | Company report | 85% |
| Profound Medical Corp | Company report | 85% |
| Lifeward ltd | Company report | 85% |
| Bionik Laboratories Corp | Company report | 85% |
| Edap Tms Sa | Company report | 85% |
Company report basis, confidence, active dates and source counts for Intuitive Surgical Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Intuitive Surgical Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Johnson and Johnson | Oncology 29.93 % |
| Thermo Fisher Scientific Inc | Clinical Research 20.15 % |
| Danaher Corporation | Diagnostics 43.97 % |
| Medtronic Plc | CARDIOVASCULAR 38.34 % |
| Stryker Corp | MedSurg and Neurotechnology 56.20 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Intuitive Surgical Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Intuitive Surgical Inc | 168,618 | 711,803 | 174,578 |
| Johnson and Johnson | 683,404 | 705,504 | 114,311 |
| Thermo Fisher Scientific Inc | 258,138 | 378,808 | 56,712 |
| Danaher Corporation | 164,571 | 426,800 | 72,183 |
| Medtronic Plc | 135,539 | 395,179 | 55,463 |
| Stryker Corp | 132,037 | 469,643 | 64,696 |
| PEERS TOTAL | 1,596,362 | 468,497 | 71,680 |
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Intuitive Surgical Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Intuitive Surgical Inc | Geographic Distribution, Foreign 29.66 % |
| Johnson and Johnson | United States 58.90 % |
| Thermo Fisher Scientific Inc | North America 51.63 % |
| Danaher Corporation | North America 41.81 % |
| Medtronic Plc | United States 49.83 % |
| Stryker Corp | United States 75.92 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Intuitive Surgical Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 218 companies in Intuitive Surgical Inc's industry classification, broader than the peer set above. Market cap in millions of $.Intuitive Surgical Inc ranks #1 of 218 companies by market capitalization in its industry, holding 13.69 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 619, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Intuitive Surgical Inc | 171,352 | 13.69 % |
| 2 | Medtronic Plc | 135,539 | 10.83 % |
| 3 | Stryker Corp | 132,483 | 10.59 % |
| 4 | 3m Company | 102,581 | 8.20 % |
| 5 | Boston Scientific Corporation | 1,234 | 5.2% |
| 6 | Edwards Lifesciences Corporation | 1,234 | 5.2% |
| 7 | Becton Dickinson And Company | 1,234 | 5.2% |
| 8 | Alcon inc | 1,234 | 5.2% |
| 9 | Resmed Inc | 1,234 | 5.2% |
| 10 | Medline Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Intuitive Surgical Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-05.
Intuitive Surgical Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Intuitive Surgical Inc | 171,352 | -11.00 % |
| 2 | Medtronic Plc | 135,539 | 16.64 % |
| 3 | Stryker Corp | 1,234 | 12.3% |
| 4 | 3m Company | 1,234 | 12.3% |
| 5 | Boston Scientific Corporation | 1,234 | 12.3% |
| 6 | Edwards Lifesciences Corporation | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Intuitive Surgical Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-05. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Intuitive Surgical Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Medical Equipment & Supplies industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (342 companies). See the full Medical Equipment & Supplies industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 68.64 % | 45.82 % (avg) | +22.8 pp |
| Operating Margin | 27.11 % | industry median | +23.7 pp |
| EBITDA Margin | 35.18 % | -7.09 % (avg) | +42.3 pp |
| Capital Intensity (Capex / Revenue) | 4.06 % | 7.20 % (avg) | -3.1 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Intuitive Surgical Inc's Valuation vs Competitive Position
Valuation multiples vs the Medical Equipment & Supplies industry average (342 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Medical Equipment & Supplies industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 46.3x | 38.2x | +8.1x |
| EV / EBITDA | 30.8x | 18.2x | +12.7x |
| P/B | 7.7x | 4.6x | +3.1x |
| Return on Equity | 16.99 % | industry aggregate | 0.58 % |
| Return on Invested Capital | 9.19 % | -6.87 % (avg) | 16.06 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Intuitive Surgical Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 19.03 % | 20.25 % | -2.68 % | 31.01 % | 8.97 % | 14.49 % | 17.23 % | 20.51 % |
| Operating Margin | 32.21 % | 30.69 % | 24.09 % | 31.89 % | 25.35 % | 24.80 % | 28.13 % | 29.27 % |
| Return on Invested Capital | 9.58 % | 8.79 % | 5.64 % | 8.01 % | 6.58 % | 7.03 % | 7.57 % | 8.25 % |
| P/E | 53.0x | 50.3x | 260.9x | 71.6x | 70.9x | 59.4x | 81.1x | 67.7x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Intuitive Surgical Inc's Strategic Group Map
Intuitive Surgical Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Intuitive Surgical Inc's trailing-12-month revenue growth of 26.1% and operating margin of 27.1% compares with an average of 18.7% growth and 22.4% margin across its 8 closest peers by combined growth, margin and ROIC -- Intuitive Surgical Inc sits above that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Intuitive Surgical Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Intuitive Surgical Inc falls in the Cash Cow quadrant: relative market share of 1.26x vs its largest competitor, in an industry growing revenue 8.9% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Intuitive Surgical Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 619 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 4.06 % vs industry average 7.20 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Intuitive Surgical Inc's dedicated Suppliers and Customers pages, not here.
Intuitive Surgical Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Intuitive Surgical Inc falls in the Low attractiveness / High strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Intuitive Surgical Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Market leader by capitalization in its industry (#1 of 218, 13.69 % share).
- Operating margin 23.7 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+9.7% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Intuitive Surgical Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Intuitive Surgical Inc | 1.33 | 4.37 | - |
| Johnson and Johnson | 0.36 | 1.04 | 0.60 |
| Thermo Fisher Scientific Inc | 0.39 | 1.69 | 0.81 |
| Danaher Corporation | - | 1.75 | 0.45 |
| Medtronic Plc | 0.15 | 2.10 | 0.57 |
| Stryker Corp | 0.50 | 2.08 | 0.65 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Intuitive Surgical Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Intuitive Surgical Inc | Q3 2026 | +32.7 % | -26.3 % |
| Johnson and Johnson | Q3 2026 | +5.9 % | -95.9 % |
| Thermo Fisher Scientific Inc | Q3 2026 | +9.1 % | +6.2 % |
| Danaher Corporation | Q3 2026 | +8.3 % | +36.0 % |
| Medtronic Plc | Q2 2026 | +13.7 % | +41.3 % |
| Stryker Corp | Q3 2026 | +7.6 % | -12.3 % |
| PEERS TOTAL | +8.3 % | -35.1 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Intuitive Surgical Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Intuitive Surgical Inc | Q3 2026 | +14.5 % | +7.3 % |
| Johnson and Johnson | Q3 2026 | +10.9 % | +17.7 % |
| Thermo Fisher Scientific Inc | Q3 2026 | +133.0 % | +8.2 % |
| Danaher Corporation | Q3 2026 | +7.4 % | -12.7 % |
| Medtronic Plc | Q2 2026 | +13.8 % | -0.2 % |
| Stryker Corp | Q3 2026 | +3.0 % | +26.7 % |
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Intuitive Surgical Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Intuitive Surgical Inc | 14.71% | 16.30% | 16.99% |
| Johnson and Johnson | 8.06% | 10.53% | 19.55% |
| Thermo Fisher Scientific Inc | 6.29% | 7.46% | 13.32% |
| Danaher Corporation | 4.91% | 5.57% | 8.18% |
| Medtronic Plc | 5.71% | 6.46% | 10.64% |
| Stryker Corp | 7.66% | 8.63% | 15.61% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Intuitive Surgical Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Intuitive Surgical Inc | 58.20 | 13.92 |
| Johnson and Johnson | 42.22 | 6.88 |
| Thermo Fisher Scientific Inc | 36.78 | 5.45 |
| Danaher Corporation | 38.17 | 6.43 |
| Medtronic Plc | 310.21 | 3.61 |
| Stryker Corp | 36.55 | 5.02 |
| PEERS AVERAGE | 36.96 | 5.79 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.