Intuitive Surgical vs Smith & Nephew
Intuitive Surgical reported revenue of $10.1 billion in fiscal 2025, 1.6 times Smith & Nephew's $6.2 billion in fiscal 2025. Intuitive Surgical's revenue grew 20.5% in its latest year, and Smith & Nephew's grew 6.1%. Intuitive Surgical had an operating margin of 29.3%, against 12.9% at Smith & Nephew. Free cash flow was $2.5 billion at Intuitive Surgical and $852 million at Smith & Nephew.
Side by side
| Intuitive Surgical | Smith & Nephew | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $10.1B | $6.2B |
| Revenue growth | 20.5% | 6.1% |
| Revenue growth a year, last 5 years | 18.2% | 6.2% |
| Gross margin | 66.0% | 68.0% |
| Operating margin | 29.3% | 12.9% |
| Net margin | 28.4% | 10.1% |
| Free cash flow | $2.5B | $852M |
| Free cash flow margin | 24.8% | 13.8% |
| Return on capital | 20.9% | — |
| Net debt to EBITDA | −1.7x | — |
| Dividends and buybacks | $2.3B | $832M |
| Change in diluted share count | 0.2% | −0.3% |
| Last close | $451.63 | $30.47 |
| P/E at the last close | 54.7× | — |
| Insider trades, last 12 months | sold $72.8 million | — |
| Piotroski F-score | 5 of 9 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Intuitive SurgicalSmith & Nephew
Operating margin
Percent of revenue
Intuitive SurgicalSmith & Nephew
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Intuitive SurgicalSmith & Nephew
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Intuitive Surgical and Smith & Nephew pages.