Net Profit Margin
since 2005
Calculation
Intuitive Surgical Inc., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income attributable to Intuitive Surgical, Inc.1 | ÷ | Revenue1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 28.38% | = | 100 | × | 2,856,000) | ÷ | 10,064,700) |
| Dec 31, 2024 | 27.81% | = | 100 | × | 2,322,600) | ÷ | 8,352,100) |
| Dec 31, 2023 | 25.24% | = | 100 | × | 1,798,000) | ÷ | 7,124,100) |
| Dec 31, 2022 | 21.25% | = | 100 | × | 1,322,300) | ÷ | 6,222,200) |
| Dec 31, 2021 | 29.85% | = | 100 | × | 1,704,600) | ÷ | 5,710,100) |
| Dec 31, 2020 | 24.33% | = | 100 | × | 1,060,600) | ÷ | 4,358,400) |
| Dec 31, 2019 | 30.80% | = | 100 | × | 1,379,300) | ÷ | 4,478,500) |
| Dec 31, 2018 | 30.29% | = | 100 | × | 1,127,900) | ÷ | 3,724,200) |
| Dec 31, 2017 | 21.09% | = | 100 | × | 660,000) | ÷ | 3,128,900) |
| Dec 31, 2016 | 27.21% | = | 100 | × | 735,900) | ÷ | 2,704,400) |
| Dec 31, 2015 | 24.69% | = | 100 | × | 588,800) | ÷ | 2,384,400) |
| Dec 31, 2014 | 19.65% | = | 100 | × | 418,800) | ÷ | 2,131,700) |
| Dec 31, 2013 | 29.62% | = | 100 | × | 671,000) | ÷ | 2,265,100) |
| Dec 31, 2012 | 30.14% | = | 100 | × | 656,600) | ÷ | 2,178,800) |
| Dec 31, 2011 | 28.17% | = | 100 | × | 495,100) | ÷ | 1,757,300) |
| Dec 31, 2010 | 27.02% | = | 100 | × | 381,800) | ÷ | 1,413,000) |
| Dec 31, 2009 | 22.11% | = | 100 | × | 232,606) | ÷ | 1,052,168) |
| Dec 31, 2008 | 23.35% | = | 100 | × | 204,315) | ÷ | 874,919) |
| Dec 31, 2007 | 24.06% | = | 100 | × | 144,537) | ÷ | 600,828) |
| Dec 31, 2006 | 19.33% | = | 100 | × | 72,044) | ÷ | 372,682) |
| Dec 31, 2005 | 41.41% | = | 100 | × | 94,134) | ÷ | 227,338) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The net profit margin exhibited considerable fluctuation between 2005 and 2025. Initially, a substantial decrease is observed from 2005 to 2006, followed by a period of relative stability and then growth. The latter half of the analyzed period demonstrates continued variability, with peaks and valleys in profitability.
- Initial Decline (2005-2006)
- The net profit margin decreased significantly from 41.41% in 2005 to 19.33% in 2006. This represents a substantial contraction in profitability, potentially attributable to increased operating costs or a shift in revenue mix.
- Growth and Stabilization (2006-2010)
- Following the initial decline, the net profit margin generally trended upward, reaching 27.02% in 2010. This period indicates improved efficiency or pricing power. While not consistently increasing year-over-year, the margin demonstrated a recovery from the 2006 low.
- Fluctuations and Peaks (2010-2015)
- From 2010 to 2015, the net profit margin experienced more pronounced fluctuations, ranging from 27.02% to 24.69%. Despite these variations, the margin remained relatively high, suggesting a sustained level of profitability. A peak of 28.17% was reached in 2011.
- Recent Trends (2015-2025)
- The period between 2015 and 2025 shows continued volatility. The margin decreased to 21.09% in 2017 before recovering to 30.29% in 2018. A subsequent decline to 21.25% in 2021 was followed by increases to 27.81% in 2022 and 28.38% in 2025. This suggests sensitivity to external factors or internal strategic shifts. The highest margin observed during the entire period was 30.80% in 2019.
- Overall Observation
- The net profit margin demonstrates a pattern of cyclicality rather than a consistent upward or downward trend. While generally healthy, the margin is subject to considerable variation, indicating potential sensitivity to revenue fluctuations, cost management, and competitive pressures. The recent trend suggests a return to stronger profitability, but continued monitoring is warranted.
Comparison to Competitors
Intuitive Surgical Inc., net profit margin, long-term trends, comparison to competitors
| Intuitive Surgical Inc. | Abbott Laboratories | Elevance Health Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 28.38% | — | — | 13.90% | — |
| Dec 31, 2024 | 27.81% | 31.95% | 3.41% | 11.36% | 3.65% |
| Dec 31, 2023 | 25.24% | 14.27% | 3.52% | 12.03% | 6.09% |
| Dec 31, 2022 | 21.25% | 15.88% | 3.87% | 15.90% | 6.25% |
| Dec 31, 2021 | 29.85% | 16.42% | 4.46% | 11.97% | 6.06% |
| Dec 31, 2020 | 24.33% | 12.99% | 3.78% | 16.56% | 6.03% |
| Dec 31, 2019 | 30.80% | 11.56% | 4.66% | 15.16% | 5.76% |
| Dec 31, 2018 | 30.29% | 7.74% | 4.11% | 10.36% | 5.33% |
| Dec 31, 2017 | 21.09% | 1.74% | 4.31% | 13.56% | 5.28% |
| Dec 31, 2016 | 27.21% | 6.71% | 2.93% | 12.27% | 3.81% |
| Dec 31, 2015 | 24.69% | 21.68% | 3.27% | 13.20% | 3.72% |
| Dec 31, 2014 | 19.65% | 11.28% | 3.52% | 18.02% | 4.33% |
| Dec 31, 2013 | 29.62% | 11.79% | 3.55% | 20.90% | 4.62% |
| Dec 31, 2012 | 30.14% | 14.95% | 4.37% | 22.35% | 5.03% |
| Dec 31, 2011 | 28.17% | 12.17% | 4.42% | 19.43% | 5.08% |
| Dec 31, 2010 | 27.02% | 13.15% | 4.99% | 19.59% | 4.95% |
| Dec 31, 2009 | 22.11% | 18.68% | 7.80% | 14.86% | 4.42% |
| Dec 31, 2008 | 23.35% | 16.53% | 4.04% | 16.51% | 3.70% |
| Dec 31, 2007 | 24.06% | 13.92% | 5.56% | 22.78% | 6.26% |
| Dec 31, 2006 | 19.33% | 7.64% | 5.52% | 22.55% | 5.89% |
| Dec 31, 2005 | 41.41% | 15.10% | 5.53% | 17.94% | 7.36% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Health Care Equipment & Services)
Intuitive Surgical Inc., net profit margin, long-term trends, comparison to sector (health care equipment & services)
| Intuitive Surgical Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2025 | 28.38% | — |
| Dec 31, 2024 | 27.81% | 6.09% |
| Dec 31, 2023 | 25.24% | 6.43% |
| Dec 31, 2022 | 21.25% | 7.05% |
| Dec 31, 2021 | 29.85% | 7.14% |
| Dec 31, 2020 | 24.33% | 6.82% |
| Dec 31, 2019 | 30.80% | 6.91% |
| Dec 31, 2018 | 30.29% | 5.87% |
| Dec 31, 2017 | 21.09% | 5.60% |
| Dec 31, 2016 | 27.21% | 4.73% |
| Dec 31, 2015 | 24.69% | 5.78% |
| Dec 31, 2014 | 19.65% | 5.76% |
| Dec 31, 2013 | 29.62% | 6.37% |
| Dec 31, 2012 | 30.14% | 8.05% |
| Dec 31, 2011 | 28.17% | 7.40% |
| Dec 31, 2010 | 27.02% | 7.67% |
| Dec 31, 2009 | 22.11% | 8.63% |
| Dec 31, 2008 | 23.35% | 6.88% |
| Dec 31, 2007 | 24.06% | 8.40% |
| Dec 31, 2006 | 19.33% | 7.20% |
| Dec 31, 2005 | 41.41% | 9.04% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Intuitive Surgical Inc., net profit margin, long-term trends, comparison to industry (health care)
| Intuitive Surgical Inc. | Health Care | |
|---|---|---|
| Dec 31, 2025 | 28.38% | — |
| Dec 31, 2024 | 27.81% | 8.84% |
| Dec 31, 2023 | 25.24% | 11.49% |
| Dec 31, 2022 | 21.25% | 14.65% |
| Dec 31, 2021 | 29.85% | 15.24% |
| Dec 31, 2020 | 24.33% | 10.27% |
| Dec 31, 2019 | 30.80% | 14.56% |
| Dec 31, 2018 | 30.29% | 12.61% |
| Dec 31, 2017 | 21.09% | 9.26% |
| Dec 31, 2016 | 27.21% | 12.80% |
| Dec 31, 2015 | 24.69% | 13.94% |
| Dec 31, 2014 | 19.65% | 14.40% |
| Dec 31, 2013 | 29.62% | 15.04% |
| Dec 31, 2012 | 30.14% | 13.92% |
| Dec 31, 2011 | 28.17% | 12.06% |
| Dec 31, 2010 | 27.02% | 11.90% |
| Dec 31, 2009 | 22.11% | 17.77% |
| Dec 31, 2008 | 23.35% | 13.00% |
| Dec 31, 2007 | 24.06% | 12.52% |
| Dec 31, 2006 | 19.33% | 15.30% |
| Dec 31, 2005 | 41.41% | 14.61% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).