ISRG
Market read
The latest filing evidence is available. 5 of 35 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
Invalidation: The live read weakens if participation falls to 12 of 35 members or fewer.
Research brief
The latest filing evidence is available. 5 of 35 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“The increase in system placements reflects continued demand for additional capacity by our customers as a result of procedure growth as well as increased demand for our da Vinci 5 system, 34 including the impact from customers trading in fourth-generation da…”10-Q · Jul 21, 2026 ↗
“However, we may experience reduced cash flow from operations as a result of macroeconomic and geopolitical headwinds.”10-Q · Jul 21, 2026 ↗
“The increase in research and development expenses for the three and six months ended June 30, 2026, was primarily driven by higher direct project costs incurred to support an expanded portfolio of product development initiatives, as well as increased personne…”10-Q · Jul 21, 2026 ↗
“Service gross profit margin decreased for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, primarily driven by higher costs associated with our da Vinci 5 surgical system, incremental fixed costs, including depreciation expe…”10-Q · Jul 21, 2026 ↗
Valuation discipline
Price/sales 13.0× · EV/sales 12.7×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for ISRG. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
10-Q filed 2026-04-22 against the comparable filing from 2025-04-23.
“Selling, general, and administrative expenses during the periods presented were as follows (dollars in millions): Three Months Ended March 31, 2026 vs 2025 2026 2025 $ Change % Change Selling, general, and administrative (1) $ 613.3 $ 563.4 $ 49.9 9 % % of Total revenue 22% 25% ________ (1) Includes the following expenses: Share-based compensation $ 92.7 $ 82.3 $ 10.4 13 % Intangible asset amortization $ 0.2 $ 0.5 $ (0.3) (60) % Selling, general, and administrative expenses for the three months ended March 31, 2026, increased compared to the three months ended March 31, 2025, primarily due to higher personnel-related expenses, driven by an increase in headcount and higher employee compensat...”
“40 Interest and Other Income, Net Interest and other income, net during the periods presented was as follows (dollars in millions): Three Months Ended March 31, 2026 vs 2025 2026 2025 $ Change % Change Interest and other income, net $ 85.1 $ 90.4 $ (5.3) (6) % % of Total revenue 3% 4% Interest and other income, net, for the three months ended March 31, 2026, decreased compared to the three months ended March 31, 2025, primarily driven by lower interest income on reduced average cash and investment balances, largely driven by cash used for stock repurchases and the acquisition of a business during the three months ended March 31, 2026.”
“The unfavorable impact of these items on cash provided by operating activities was partially offset by an increase in accounts payable of $74 million, primarily due to the timing of inventory receipts, invoicing, and payments, and an increase in deferred revenue of $46 million, primarily due to the timing of billings of service arrangements.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
“Moreover, as we add new robotically controlled products (e.g., da Vinci stapling and da Vinci energy products) that compete with product offerings traditionally within the domains of open surgery and/or conventional MIS, we face greater competition from large…”
“KG; Medicaroid Corporation; Medtronic plc; meerecompany Inc.; Noah Medical Corporation; Shandong Weigao Group Medical Polymer Company Ltd.; Shanghai Microport Medbot (Group) Co., Ltd.; Shenzhen Edge Medical Co., Ltd.; and SS Innovations International, Inc.”
Depended on by
“Net sales from our largest two customers, Intuitive Surgical SARL and Stryker Corporation, were 24.3% and 21.5%, respectively, of our total net sales for the year ended December 31, 2025.”
Filing peers
Companies whose filings use similar operating language.
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What is moving around it
ISRG is currently a Participant in the organic co-movement group Software Stocks. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
No durable theme membership has been observed for this name yet.