NASDAQ: ISRG · Medical Instruments & Supplies
Intuitive Surgical (ISRG) fair value: undervalued or overvalued?
As of 26 Sep 2026, Faircurve's model values Intuitive Surgical (ISRG) at $316.68 a share. The stock last closed at $391.95, which puts the model's fair value 19.2% below the price. On the model's bands that reads as Overvalued.
Revalued . Price is the close of 2 Oct 2026. Intuitive Surgical, Inc.
Faircurve Insights · 26 Sep 2026
Intuitive Surgical, Inc. is a leading medical technology firm dedicated to advancing patient care by developing, producing, and commercializing sophisticated tools.
Faircurve's model on 26 Sep 2026 found a fair value of $316.68 a share, the midpoint of 2,000 simulations. The previous run on 19 Sep 2026 gave $309.94, so the fair value moved +2.2%. The calibrated range over 63 trading days was $359.26 to $486.76. Ranges built this way held the price 60% of the time at this horizon, and the evidence grade was High.
The overall quality score against comparable companies was 63 out of 100. The model compares it with Becton, Dickinson and Company (BDX), ResMed Inc. (RMD), West Pharmaceutical Services, Inc. (WST), Solventum Corporation (SOLV), Baxter International Inc. (BAX), The Cooper Companies, Inc. (COO), Repligen Corporation (RGEN), and Avantor, Inc. (AVTR). Moves around the last 8 earnings reports had a median size, ignoring direction, of 4.3%.
Written from the figures on this page for the 26 Sep 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give ISRG?
The calibrated range for ISRG over 63 trading days is $350.94 to $475.49. It sits around the last close, and its width comes from the volatility that ISRG's own options imply (43% a year), calibrated weekly against realised prices (n = 3,330 past valuations, refreshed 26 Sep 2026). Ranges built this way held the price 60% of the time at this horizon. The fair value is the model's opinion and rides beside the range. It is not the centre of it.
The model's own simulated range, from the 20th to the 80th percentile of its runs, is $250.50 to $397.86. In 18% of the simulations the fair value came out above the price the model ran on.
How does ISRG score on business quality?
Intuitive Surgical's overall quality score is 63 out of 100. Each factor below is a score against comparable companies, not a percentile of the metric beside it.
| Factor | Score (0 to 100) | Headline measure | Peer median |
|---|---|---|---|
| ProfitabilityReturn on invested capital against the peer group, with a bonus for an improving trend. | 78 | 18.4%ROIC | 10.1% |
| Earnings qualityHow much of reported profit is cash: free cash flow to net income, and the accrual ratio (the share of earnings that is not cash). | 16 | 1.03xFCF / net income | 1.26x |
| Growth qualityTrailing revenue growth, forward growth from consensus, and the direction of analyst estimate revisions. | 96 | 20.5%Revenue growth, trailing | 9.9% |
| Capital disciplineReinvestment efficiency (capital spending per unit of revenue) and net buybacks. | 50 | 2.5%Net buybacks / market value | 1.8% |
| Balance sheetNet debt to EBITDA and interest coverage. | 91 | -0.61xNet debt / EBITDA | 1.96x |
| StabilityDownside volatility of the EBITDA margin over the last five years. | 36 | 2.4 ptsEBITDA margin downside volatility, 5y | 1.1 pts |
How does ISRG compare with similar companies?
The companies in medical instruments & supplies closest to Intuitive Surgical in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| BDX Becton, Dickinson and Company | $176.80 | $203.75 | +15.2% | Undervalued |
| RMD ResMed Inc. | $218.89 | $234.25 | +7.0% | Fairly valued |
| WST West Pharmaceutical Services, Inc. | $364.98 | $363.43 | -0.4% | Fairly valued |
| SOLV Solventum Corporation | $87.85 | $97.08 | +10.5% | Fairly valued |
| BAX Baxter International Inc. | $23.49 | $23.91 | +1.8% | Fairly valued |
| COO The Cooper Companies, Inc. | $56.91 | $56.76 | -0.3% | Fairly valued |
| RGEN Repligen Corporation | $181.70 | $150.23 | -17.3% | Overvalued |
| AVTR Avantor, Inc. | $15.34 | $18.04 | +17.6% | Undervalued |
All medical instruments & supplies stocks ranked by gap to fair value
When does ISRG report earnings, and how has the stock reacted?
Intuitive Surgical's next earnings report is scheduled for 20 Oct 2026. Companies can move their dates.
Options prices on 2 Oct 2026 imply a move of about 4.7% in either direction through the nearest expiry, about 13 days out. That is the size the market is pricing, not a direction. ISRG's 30 day implied volatility works out to about 12.4% over one month.
How ISRG moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 4.3%.
| Report date | Two session move |
|---|---|
| 16 Jul 2026 | -11.2% |
| 21 Apr 2026 | +3.9% |
| 22 Jan 2026 | +0.1% |
| 21 Oct 2025 | +15.0% |
| 22 Jul 2025 | -2.7% |
| 22 Apr 2025 | +4.2% |
| 23 Jan 2025 | -4.3% |
| 17 Oct 2024 | +9.3% |
Intuitive Surgical at a glance
Intuitive Surgical, Inc. is a leading medical technology firm dedicated to advancing patient care by developing, producing, and commercializing sophisticated tools.
- Market value
- $143.1B
- Sector
- Healthcare
- Industry
- Medical Instruments & Supplies
- Revenue expected, next twelve months
- $12.9B
- Consensus revenue growth, next fiscal year
- +16.9%
- Analysts with estimates
- 17
- Beta to the US market
- 0.96
- First valued by Faircurve
- 1 May 2026
How the fair value is worked out: the model prices Intuitive Surgical on the value of the whole business, debt included, against the operating profit analysts expect next year (forward EV/EBITDA), runs 2,000 simulations across its inputs and takes the midpoint. The full method is documented here.
What changed in the latest valuation?
On 19 Sep 2026 the model's fair value for ISRG was $309.94. As of 26 Sep 2026 it is $316.68, a change of +2.2%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about Intuitive Surgical's valuation
Is Intuitive Surgical stock undervalued or overvalued?
On Faircurve's model, ISRG reads as Overvalued as of 26 Sep 2026. The model's fair value is $316.68 a share against a last close of $391.95, a gap of -19.2%.
What is ISRG's fair value?
$316.68 a share as of 26 Sep 2026, the midpoint of 2,000 simulations. The model's own 20th to 80th percentile range is $250.50 to $397.86.
What price range does the model give ISRG?
$350.94 to $475.49 over 63 trading days. Ranges built this way held the price 60% of the time across 3,330 past valuations, refreshed 26 Sep 2026.
When does Intuitive Surgical report earnings next?
The next report is scheduled for 20 Oct 2026. Companies can move their dates.
How much has ISRG moved on past earnings reports?
Across its last 8 reports the median two session move was 4.3%, ignoring direction. The largest was +15.0% around the report of 21 Oct 2025.
How confident is the model in this valuation?
The model's evidence grade for ISRG is high. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It is not a probability that the fair value is right, or that the price reaches it.