Intuitive Surgical
ISRG · Health Care Equipment
$452.29
1.9%Zimmer Biomet
ZBH · Health Care Equipment
$98.56
0.3%The short version
- Intuitive Surgical is the larger business, with $10.1B of revenue in fiscal 2025 against $8.2B for Zimmer Biomet.
- Intuitive Surgical grew revenue faster (20.5%, against 7.2%).
- Intuitive Surgical kept more of each dollar of sales as operating profit (29.3% operating margin, against 13.3% operating margin).
- Intuitive Surgical turned more of its sales into free cash flow (24.8% FCF margin, against 17.9% FCF margin).
- Intuitive Surgical earned a higher return on the capital invested in it (20.9%, against 4.9%).
- Investors pay more for each dollar of Intuitive Surgical’s earnings: a P/E of 54.8x against 23.9x for Zimmer Biomet.
| Latest fiscal year | ISRG · FY25 | ZBH · FY25 |
|---|---|---|
| Size | ||
| Market cap | $159.0B | $19.0B |
| Revenue | $10.1B | $8.2B |
| Free cash flow | $2.5B | $1.5B |
| Net income | $2.9B | $705M |
| Growth | ||
| Revenue growth | 20.5% | 7.2% |
| 5-year growth | 18.2% | 6.1% |
| Share count change | 0.2% | −2.6% |
| Profitability | ||
| Gross margin | 66.0% | 69.7% |
| Operating margin | 29.3% | 13.3% |
| Net margin | 28.4% | 8.6% |
| FCF margin | 24.8% | 17.9% |
| Return on capital | 20.9% | 4.9% |
| Return on equity | 16.7% | 5.6% |
| Balance sheet | ||
| Net debt | −$5.9B | $6.9B |
| Net debt / EBITDA | −1.7x | 3.2x |
| Dividends and buybacks | $2.3B | $677M |
| Valuation & quality | ||
| P/E | 54.8x | 23.9x |
| Piotroski F-score | 5 | 6 |
FY16
ISRG $2.7B
ZBH $7.7B
FY17
ISRG $3.1B
ZBH $7.8B
FY18
ISRG $3.7B
ZBH $7.9B
FY19
ISRG $4.5B
ZBH $8.0B
FY20
ISRG $4.4B
ZBH $6.1B
FY21
ISRG $5.7B
ZBH $6.8B
FY22
ISRG $6.2B
ZBH $6.9B
FY23
ISRG $7.1B
ZBH $7.4B
FY24
ISRG $8.4B
ZBH $7.7B
FY25
ISRG $10.1B
ZBH $8.2B
ISRG
ZBH
FY16
ISRG 35.1%
ZBH 10.7%
FY17
ISRG 33.9%
ZBH 10.2%
FY18
ISRG 32.2%
ZBH 0.4%
FY19
ISRG 30.7%
ZBH 14.3%
FY20
ISRG 24.1%
ZBH 1.4%
FY21
ISRG 31.9%
ZBH 12.6%
FY22
ISRG 25.4%
ZBH 10.0%
FY23
ISRG 24.8%
ZBH 17.3%
FY24
ISRG 28.1%
ZBH 16.7%
FY25
ISRG 29.3%
ZBH 13.3%
ISRG
ZBH
FY16
ISRG $1.0B
ZBH $1.4B
FY17
ISRG $953M
ZBH $1.4B
FY18
ISRG $982M
ZBH $1.6B
FY19
ISRG $1.2B
ZBH $1.4B
FY20
ISRG $1.1B
ZBH $1.1B
FY21
ISRG $1.7B
ZBH $1.4B
FY22
ISRG $958M
ZBH $1.2B
FY23
ISRG $750M
ZBH $1.3B
FY24
ISRG $1.3B
ZBH $1.3B
FY25
ISRG $2.5B
ZBH $1.5B
ISRG
ZBH
FY16
ISRG 23.6%
ZBH 3.1%
FY17
ISRG 21.2%
ZBH 3.8%
FY18
ISRG 32.7%
ZBH 0.1%
FY19
ISRG 29.1%
ZBH 5.7%
FY20
ISRG 19.1%
ZBH 0.3%
FY21
ISRG 26.9%
ZBH 4.7%
FY22
ISRG 17.9%
ZBH 3.3%
FY23
ISRG 21.6%
ZBH 7.0%
FY24
ISRG 19.9%
ZBH 6.2%
FY25
ISRG 20.9%
ZBH 4.9%
ISRG
ZBH
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.