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Held by 2,190 of 5,944 reporting institutions (100th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $383.54 today, the market must believe free cash flow compounds 28.0%/yr for a decade (off $1.5B normalized FCF).
The market's 28.0% is more optimistic than its 9-yr track record.
2-stage DCF · 0.36B shares · net debt -$3.4B
mean 18.1% · volatility σ 46% · implied rate exceeded in 3/9 yrs
Central path = implied 28.0%/yr growth; shaded band = ±1σ (46%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
7/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $2.3B buybacks = $2.3B returned on $2.5B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 16%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.”
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.06B 100.0% | $8.35B 100.0% | $7.12B 100.0% | $6.22B 100.0% | $5.71B 100.0% | $4.36B 100.0% | $4.48B 100.0% | $3.72B 100.0% | $3.14B 100.0% | $2.71B 100.0% |
| Cost of Revenue | $3.42B 34.0% | $2.72B 32.5% | $2.39B 33.6% | $2.03B 32.6% | $1.75B 30.7% | $1.50B 34.4% | $1.37B 30.6% | $1.12B 30.1% | $934.8M 29.8% | $814.3M 30.1% |
| Cost of Products | — | — | — | — | — | — | — | — | $754.9M 24.1% | $663.3M 24.5% |
| Cost of Services | — | — | — | — | — | — | — | — | $179.9M 5.7% | $151.0M 5.6% |
| Gross Profit | $6.64B 66.0% | $5.63B 67.5% | $4.73B 66.4% | $4.20B 67.4% | $3.96B 69.3% | $2.86B 65.6% | $3.11B 69.4% | $2.60B 69.9% | $2.20B 70.2% | $1.89B 69.9% |
| Research & Development | $1.31B 13.0% | $1.15B 13.7% | $998.8M 14.0% | $879.0M 14.1% | $671.0M 11.8% | $595.1M 13.7% | $557.3M 12.4% | $418.1M 11.2% | $328.6M 10.5% | $239.6M 8.9% |
| Selling, General & Admin | $2.38B 23.7% | $2.14B 25.6% | $1.96B 27.6% | $1.74B 28.0% | $1.47B 25.7% | $1.22B 27.9% | $1.18B 26.3% | $986.6M 26.5% | $810.5M 25.8% | $703.6M 26.0% |
| Total Operating Expenses | $3.70B 36.7% | $3.29B 39.3% | $2.96B 41.6% | $2.62B 42.1% | $2.14B 37.4% | $1.81B 41.6% | $1.74B 38.8% | $1.40B 37.7% | $1.14B 36.3% | $943.2M 34.8% |
| Operating Income | $2.95B 29.3% | $2.35B 28.1% | $1.77B 24.8% | $1.58B 25.3% | $1.82B 31.9% | $1.05B 24.1% | $1.37B 30.7% | $1.20B 32.2% | $1.06B 33.9% | $949.7M 35.1% |
| Other Income (Expense), net | $365.9M 3.6% | $324.9M 3.9% | $192.1M 2.7% | $29.7M 0.5% | $69.3M 1.2% | $157.2M 3.6% | $127.7M 2.9% | $80.1M 2.2% | $41.9M 1.3% | $35.6M 1.3% |
| Pretax Income | $3.31B 32.9% | $2.67B 32.0% | $1.96B 27.5% | $1.61B 25.8% | $1.89B 33.1% | $1.21B 27.7% | $1.50B 33.5% | $1.28B 34.4% | $1.10B 35.2% | $985.3M 36.4% |
| Income Tax Expense | $434.8M 4.3% | $336.3M 4.0% | $141.6M 2.0% | $262.4M 4.2% | $162.2M 2.8% | $140.2M 3.2% | $120.4M 2.7% | $154.5M 4.1% | $433.9M 13.8% | $247.0M 9.1% |
| Net Income | $2.86B 28.4% | $2.32B 27.8% | $1.80B 25.2% | $1.32B 21.3% | $1.70B 29.9% | $1.06B 24.3% | $1.38B 30.8% | $1.13B 30.3% | $670.9M 21.4% | $738.3M 27.3% |
| Per Share | ||||||||||
| EPS (Basic) | $8.00 | $6.54 | $5.12 | $3.72 | $4.79 | $3.02 | $3.98 | $9.92 | $6.01 | $6.43 |
| EPS (Diluted) | $7.87 | $6.42 | $5.03 | $3.65 | $4.66 | $2.94 | $3.85 | $9.49 | $5.77 | $6.26 |
| Weighted Avg Shares (Basic) | 356.9M | 355.2M | 351.2M | 355.7M | 356.1M | 351.1M | 346.2M | 113.7M | 111.7M | 114.9M |
| Weighted Avg Shares (Diluted) | 362.7M | 362.0M | 357.4M | 362.0M | 365.8M | 361.0M | 358.4M | 118.8M | 116.3M | 117.9M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-09-17
No material risks flagged.
Where each multiple sits in its own 14-yr range · 55th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Returns are margin-driven, not leverage-driven — higher quality.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 30.1 | 30.6 | 34.4 | 30.7 | 32.6 | 33.6 | 32.5 | 34.0 |
| Gross Profit | 69.9 | 69.4 | 65.6 | 69.3 | 67.4 | 66.4 | 67.5 | 66.0 |
| R&D | 11.2 | 12.4 | 13.7 | 11.8 | 14.1 | 14.0 | 13.7 | 13.0 |
| SG&A | 26.5 | 26.3 | 27.9 | 25.7 | 28.0 | 27.6 | 25.6 | 23.7 |
| Operating Income | 32.2 | 30.7 | 24.1 | 31.9 | 25.3 | 24.8 | 28.1 | 29.3 |
| Income Tax | 4.1 | 2.7 | 3.2 | 2.8 | 4.2 | 2.0 | 4.0 | 4.3 |
| Net Income | 30.3 | 30.8 | 24.3 | 29.9 | 21.3 | 25.2 | 27.8 | 28.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ISRG: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.20T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.02T | 49.6× | — | 15.7× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $916.2B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $643.4B | 24.2× | — | 6.8× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $464.4B | 111.2× | 33.2× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $362.6B | 19.9× | — | 5.6× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $340.0B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $252.6B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $244.5B | 36.5× | 31.5× | 5.5× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $202.8B | 26.4× | 17.4× | 5.5× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $183.3B | 21.8× | 20.0× | 6.2× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.2B | 27.5× | 19.3× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $156.1B | 20.2× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $147.3B | 41.3× | 30.5× | 6.0× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $135.8B | 48.6× | 37.3× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $130.4B | 33.5× | 28.6× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $129.4B | 18.4× | — | 2.7× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.5B | 24.8× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| LGVN | $117.4B | — | — | 97924.4× | -49.9% | 67.0% | -1894% | -400% | -400% | — | 31 |
| CVS | $116.6B | 66.0× | 11.7× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $108.8B | 33.9× | 18.7× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $103.4B | 23.1× | 16.3× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.7B | 15.2× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.1B | 16.4× | 15.4× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $81.0B | 18.7× | 19.4× | 5.7× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
Peers = companies sharing ISRG's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.