Intuitive Surgical (ISRG) Operating Margin (2009 - 2026)
Intuitive Surgical's Operating Margin was 19.44% in Q3 2026, down 10.89 percentage points from 30.33% a year earlier and down 14.17 percentage points from the prior quarter.
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Analysis
Intuitive Surgical (ISRG) Operating Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Intuitive Surgical's Operating Margin was 28.37% through Sep 30, 2026, down 0.93 percentage points year-over-year; for FY2025, it came in at 29.27%, up 1.14 percentage points from FY2024.
- Operating Margin shows a five-year change of +5.18 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was 28.12% in FY2024 (+3.32 pp), 24.80% in FY2023 (-0.55 pp), 25.35% in FY2022 (-6.54 pp) and 31.89% in FY2021 (+7.80 pp).
- The Q3 2026 figure marks the lowest quarterly Operating Margin since Q2 2020.
- Compared with a year earlier, Operating Margin was higher in six of the last eight quarters, with an average year-over-year change of +1.17 percentage points.
- The best year-over-year quarter for Operating Margin over five years was Q4 2024 (a gain of 7.10 percentage points); the worst was Q3 2026 (a drop of 10.89 percentage points).
- Per Business Quant data, ISRG's Operating Margin in the three quarters before Q3 2026 was 33.60% (Q2 2026), 30.87% (Q1 2026) and 30.15% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 250.13 Bn | 229.16 Bn | 4.88 Bn | 17.40% |
| 2 | Abbott Laboratories | 180.31 Bn | 150.74 Bn | 7.27 Bn | 13.44% |
| 3 | Danaher | 162.34 Bn | 146.15 Bn | 3.61 Bn | 17.99% |
| 4 | Intuitive Surgical | 158.13 Bn | 138.42 Bn | 2.08 Bn | 19.44% |
| 5 | Medtronic | 122.37 Bn | 87.63 Bn | 6.34 Bn | 18.08% |
| 6 | Stryker | 117.89 Bn | 104.00 Bn | 4.50 Bn | 25.18% |
| 7 | Boston Scientific | 67.15 Bn | 61.92 Bn | 3.85 Bn | 21.65% |
| 8 | Becton Dickinson | 54.68 Bn | 51.83 Bn | 2.32 Bn | 13.31% |
| 9 | Edwards Lifesciences | 51.43 Bn | 35.44 Bn | 1.35 Bn | 29.48% |
| 10 | Agilent Technologies | 48.84 Bn | 41.72 Bn | 1.04 Bn | 23.64% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 19.44% |
| Jun 30, 2026 | 33.60% |
| Mar 31, 2026 | 30.87% |
| Dec 31, 2025 | 30.15% |
| Sep 30, 2025 | 30.33% |
| Jun 30, 2025 | 30.47% |
| Mar 31, 2025 | 25.65% |
| Dec 31, 2024 | 30.45% |
| Sep 30, 2024 | 28.33% |
| Jun 30, 2024 | 28.23% |
| Mar 31, 2024 | 24.83% |
| Dec 31, 2023 | 23.35% |
| Sep 30, 2023 | 26.71% |
| Jun 30, 2023 | 26.38% |
| Mar 31, 2023 | 22.85% |
| Dec 31, 2022 | 22.51% |
| Sep 30, 2022 | 25.61% |
| Jun 30, 2022 | 26.12% |
| Mar 31, 2022 | 27.43% |
| Dec 31, 2021 | 29.04% |
API Access
Intuitive Surgical Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=ISRG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "ISRG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=ISRG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();