Intuitive Surgical, Inc. (IUI1) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Intuitive Surgical, Inc. €308, price €354, upside -13.1%, quality 73 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.
How to read this chart
60‑month range €180.16 – €589.30 · fair‑value band €188.95 – €507.88 · the €353.85 price screens above the €307.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 29, 2026.
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Intuitive Surgical, Inc. develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally.
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Intuitive Surgical, Inc. develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. It offers the da Vinci Surgical System that enables surgical procedures using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic endoluminal procedures enabling minimally invasive biopsies in the lung. The company also provides a suite of stapling, energy, and core instrumentation for its multi-port da Vinci surgical systems; progressive learning pathways to support the use of its technology; infrastructure of customer service and support specialists, a complement of services to its customers, including installation, repair, maintenance, 24/7 technical support, and proactive system health monitoring; and integrated digital capabilities providing connected offerings, streamlining performance for hospitals with program-enhancing insights. It sells its products through direct sales organizations, such as capital and clinical sales teams. Intuitive Surgical, Inc. was incorporated in 1995 and is headquartered in Sunnyvale, California.
Stock analysis
Intuitive Surgical, Inc. (IUI1) currently trades at €353.85, while our model-based Fair Value estimate is €307.53, 13.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of €176.77 per share, and 0 of the 24 models we run sit above the €353.85 price.
Bear case: the Economic Profit group reads lowest at €62.85, and 24 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: €188.95 (bear) to €507.88 (bull), the price of €353.85 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 73/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Intuitive Surgical, Inc. reported revenue of $10.1B in FY2025 versus $5.7B in FY2021, a compound +15.2%/yr. Reported net income was $2.9B in FY2025, compounding +13.8%/yr from FY2021.
Key figures
Market cap €126B · P/E ratio 48.9 · P/S ratio 13.9 · EPS (TTM) €7.23 · Net margin 28.4% · Return on equity 17.2% · Return on assets (EBIT) 12.8% · Operating margin 30.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −41% fair-value upside, at −13%, IUI1 screens cheaper than that median.
Fair Value models
Bear €188.95Fair Value €307.53Bull €507.88
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€5.47 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+20.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.4%
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+24.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.5%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.32% → 29%
2025 sits 58% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+30.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+12.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +27.0% a year for the price and +9.5% for the forecasts.
Compare Intuitive Surgical, Inc. with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Instruments & Supplies · 185 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score73 · Top 25%
Fair Value upside−13.1% · Below median
Profitability
Return on equity (TTM)17.2% · Top 25%
Return on assets10.2% · Top 25%
Net margin (TTM)28.2% · Top 25%
Operating margin (TTM)30.9% · Top 25%
Growth and dividend
Revenue growth23.0% · Top 25%
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Intuitive Surgical, Inc. Fair Value". https://www.fairvalue-calculator.com/stock/IUI1
Frequently asked questions
Is Intuitive Surgical, Inc. (IUI1) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of €307.53 versus a price of €353.85, about −13% upside (overvalued).
What is the fair value of IUI1?
Our model-based fair value for Intuitive Surgical, Inc. is €307.53 (as of Sep 29, 2026), built from audited fundamentals. The current price: €353.85.
What is the quality score of IUI1?
Intuitive Surgical, Inc. has a Quality Score of 73/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Intuitive Surgical, Inc. (IUI1)?
Our model-based price target is the fair value of €307.53 (as of Sep 29, 2026) from 24 valuation models. Cautious scenario €188.95, optimistic scenario €507.88. It is a calculation from audited fundamentals, not an analyst target.
What is the Intuitive Surgical, Inc. stock forecast for 2026?
Our models put fair value at €307.53, about −13% upside versus a price of €353.85 (overvalued). Cautious scenario €188.95, optimistic scenario €507.88. The calculation is refreshed regularly with new filings.
What is the revenue of Intuitive Surgical, Inc. (IUI1)?
Intuitive Surgical, Inc. reported trailing-twelve-month revenue of about $10.6B (latest available figure, as of Sep 29, 2026).
What growth is priced into Intuitive Surgical, Inc. (IUI1)?
For today's price to be fair in a discounted-cash-flow model, Intuitive Surgical, Inc. would have to grow free cash flow by +30.0 % per year for five years (discount rate 10.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +15.2 % per year. As of Sep 29, 2026.
What discount rate (WACC) does the fair value of IUI1 use?
Our models discount Intuitive Surgical, Inc. at 10.0 %: a base by market capitalisation (large), damped by beta 1.46, country premium for Germany. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Intuitive Surgical, Inc. that is +30.0 % per year a year over ten years, using the same discount rate (10.0 %) and the same formula as our fair value.
How much growth has Intuitive Surgical, Inc. (IUI1) delivered so far?
Over the past 4 years revenue at Intuitive Surgical, Inc. grew +15.2 % a year. The price currently implies +30.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Intuitive Surgical, Inc. (IUI1) growing?
The median revenue growth in the sector is +1.7 % a year. That is the yardstick for the growth priced into Intuitive Surgical, Inc. (+30.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Intuitive Surgical, Inc. (IUI1)?
The free-cash-flow yield on the price is 1.76 %: that much free cash flow Intuitive Surgical, Inc. produces per unit of market value. When it exceeds the discount rate of our models (10.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Intuitive Surgical, Inc. (IUI1)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Intuitive Surgical, Inc. it is €307.53 per share (as of Sep 29, 2026), against a price of €353.85. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Intuitive Surgical, Inc. stock overvalued or undervalued in 2026?
As of Sep 29, 2026, IUI1 trades above its calculated fair value: price €353.85, fair value €307.53, a gap of about −13% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IUI1?
No. The price is what the market pays today (€353.85); the fair value is what the company's own numbers justify (€307.53). For Intuitive Surgical, Inc. the two are €46.32 per share apart. That gap is exactly why we show both numbers side by side.
How much is Intuitive Surgical, Inc. worth?
The market values Intuitive Surgical, Inc. at about €126B (market capitalisation, as of Sep 29, 2026). Per share that is €353.85; our models calculate a fair value of €307.53 per share.
What do the bullish and bearish scenarios say about IUI1?
Our models span a range for Intuitive Surgical, Inc.: cautious scenario €188.95, base €307.53, optimistic €507.88 per share (as of Sep 29, 2026, price €353.85). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IUI1?
Intuitive Surgical, Inc. trades at a price-to-earnings ratio of 48.9 (as of Sep 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €307.53 is built from several models across several years. Other multiples: PEG 2.1, P/B 7.9, P/S 13.4, EV/EBITDA 35.5.
What is the PEG ratio of IUI1?
The PEG ratio of Intuitive Surgical, Inc. is 2.11 (P/E divided by earnings growth, as of Sep 29, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Intuitive Surgical, Inc. (IUI1)?
Balance-sheet figures for Intuitive Surgical, Inc. (as of Sep 29, 2026): return on equity 17.2%. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is IUI1 from its 52-week high?
Intuitive Surgical, Inc. trades at €353.85, about 31% below its 52-week high of €516.10 and 22% above the low of €290.80 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €307.53 is for.
Which stocks are comparable to Intuitive Surgical, Inc.?
From the same area (Healthcare) we also value EssilorLuxottica Société anonyme, Becton, Dickinson and Company, Medline Inc, Alcon Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Intuitive Surgical, Inc. stock attractive at the current price?
The data as of Sep 29, 2026: price €353.85, calculated fair value €307.53 (−13%), Quality Score 73/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of IUI1 calculated?
We run Intuitive Surgical, Inc. through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €307.53, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Intuitive Surgical, Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Intuitive Surgical, Inc. (IUI1)?
The closing price on Oct 2, 2026 was €353.85. Our model-based fair value is €307.53, about −13% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Intuitive Surgical, Inc. right now?
The model range is unusually wide (€188.95 to €507.88). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Intuitive Surgical, Inc.
How large is the market capitalisation of Intuitive Surgical, Inc. (IUI1)?
The market capitalisation of Intuitive Surgical, Inc. is €126B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Intuitive Surgical, Inc. (IUI1)?
The price-to-sales ratio of Intuitive Surgical, Inc. is 13.9 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Intuitive Surgical, Inc. (IUI1)?
Earnings per share at Intuitive Surgical, Inc. are €7.23 (price ÷ EPS = P/E 48.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Intuitive Surgical, Inc. (IUI1)?
The net margin of Intuitive Surgical, Inc. is 28.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Intuitive Surgical, Inc. (IUI1)?
The return on equity (ROE) of Intuitive Surgical, Inc. is 17.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Intuitive Surgical, Inc. (IUI1)?
On an EBIT basis the return on assets of Intuitive Surgical, Inc. is 12.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Intuitive Surgical, Inc. (IUI1)?
The operating margin of Intuitive Surgical, Inc. is 30.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Intuitive Surgical, Inc. (IUI1)?
Revenue at Intuitive Surgical, Inc. is growing +23.0% versus a year earlier (3y avg +17.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Intuitive Surgical, Inc. (IUI1)?
Earnings per share at Intuitive Surgical, Inc. are growing +18.8% versus a year earlier. How much earnings per share grew versus a year earlier.
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