Stock Analysis on Net

Intuitive Surgical Inc. (NASDAQ:ISRG)

$24.99

Price to Book Value (P/BV)
since 2005

Microsoft Excel

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Calculation

Intuitive Surgical Inc., P/BV, long-term trends, calculation

Microsoft Excel

Based on: 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$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of Intuitive Surgical Inc. Annual Report.


Share Price Trend
The share price demonstrates considerable volatility over the observed period. Initially, it remained relatively low, fluctuating between approximately 10.52 USD and 36.95 USD from 2006 to 2011. A marked increase is noted starting around 2012, where the price rises from 54.60 USD to peak values exceeding 570 USD by early 2025. Despite this general uptrend, there are intermittent declines, notably in 2014, 2023, and early 2024, indicating periods of market adjustment or external pressures.
Book Value Per Share (BVPS) Development
The book value per share exhibits a steady and consistent growth throughout the timeline. Beginning at 1.35 USD in 2006, it rises to 46.08 USD by early 2025. This steady increase signals continual growth in shareholders' equity on a per-share basis, suggesting effective asset accumulation or retention of earnings over time.
Price-to-Book Value (P/BV) Ratio Analysis
The P/BV ratio displays significant fluctuations, reflecting changes in market valuation relative to the underlying book value. Early years show high variability, peaking at nearly 13 in 2008 and dipping to as low as 3.55 in 2009. Post-2010, the ratio mostly ranges between approximately 4.3 and 10, indicating varying investor sentiment regarding growth prospects or risk during different periods. Notably, towards the latter years, particularly from 2018 into 2025, the P/BV ratio trends upward again, reaching values over 12 by 2025, highlighting strong market optimism or elevated expectations about future performance relative to book value.
Overall Observations
The financial data suggests a company experiencing steady growth in intrinsic book value accompanied by a rising market valuation over time. Despite periods of pronounced volatility, the long-term trend favors substantial appreciation in share price. The fluctuations in the P/BV ratio imply shifts in investor confidence and valuation perception at various points, potentially influenced by broader market conditions or company-specific developments. The consistent increase in book value per share portrays a solid foundation for the observed market valuation growth.

Comparison to Competitors

Intuitive Surgical Inc., P/BV, long-term trends, comparison to competitors

Microsoft Excel

Based on: 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., P/BV, long-term trends, comparison to sector (health care equipment & services)

Microsoft Excel

Based on: 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)