Intuitive Surgical, Inc. (ISRG)财务
NASDAQ · Healthcare · Medical - Instruments & Supplies · 员工17,021人 · CEO David J. Rosa
- 股价
- $432.01 -3.73%
- 市值
- $1530亿
- 企业价值
- $1500亿
- 最近财报
- Q3 '26 2026-10-21提交
- 下次财报
- 2027-01-28 EPS预期 $2.97
营收(TTM)$116亿+20.5% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)28.4%-0.9 百分点 对比去年同期营业利润 $32.8亿
净利润(TTM)$29.6亿+7.7% 对比去年同期税后,含营业外收益
自由现金流(TTM)$36亿+58.4% 对比去年同期资本支出 $4.92亿
稀释EPS(TTM)$8.33+10.2% 对比去年同期最近4个季度之和
净现金$40.4亿-17.6% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1530亿 EV $1500亿
- 营收
- $116亿 过去12个月
- 营收增速
- +18% FY2026年一致预期
- 净利润率
- 25.5% 净利润 / 营收,TTM
- P/E
- 51.6× 预期 38.4×(FY2026)
- P/S
- 13.2× 股价 / 营收,TTM
- EV / EBITDA
- 35.7× TTM
- 自由现金流
- $36亿 过去12个月
- 净利润
- $29.6亿 过去12个月
- 营收预期
- $119亿 FY2026年一致预期
- 盈利
- 2027-01-28 营收预期 $32.4亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-20):营收超预期4.9%,EPS 超预期13.2%营收$30.5亿,预期$29.1亿(+4.9%);EPS $3.00,预期$2.65(+13.2%)。
- 营收增长平稳:同比21.7%Q3 '26营收$30.5亿,此前四个季度的平均值为20.8%。
- 营业利润率28.4%(TTM),较去年同期-0.9 百分点营收增长20.5%,营业利润增长16.6%。
- 资本支出占营收的4.2%(去年为7.2%)最近4个季度投入$4.92亿(同比-28.7%)。自由现金流$36亿,相当于净利润的121.7%。
- 股东回报$46.2亿 = 自由现金流的128.4%回购$46.2亿(去年为$20.9亿),股息$0,股权激励$8.35亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少2.8%Q3 '26稀释股数3.52亿,一年前为3.62亿。
- 净现金 $40.4亿现金 + 短期投资 $40.4亿,含租赁债务 $0;一年前净现金 $49.1亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $30.5亿 | $25.1亿 | +21.7% |
| 毛利率 | 68.4% | 66.4% | +2.0 百分点 |
| 营业利润 | $5.93亿 | $7.6亿 | -22.0% |
| 营业利润率 | 19.4% | 30.3% | -10.9 百分点 |
| 净利润 | $5.23亿 | $7.04亿 | -25.8% |
| 稀释EPS | $1.49 | $1.95 | -23.6% |
| 经营现金流 | $12.2亿 | $8.41亿 | +45.6% |
| 资本支出 | $1.13亿 | $1.05亿 | +7.3% |
| 自由现金流 | $11.1亿 | $7.36亿 | +51.0% |
| R&D | $4.08亿 | $3.29亿 | +24.0% |
| 股权激励费用 | $2.13亿 | $2.04亿 | +4.5% |
实际 vs 一致预期
2026-10-20| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $30.5亿 | $29.1亿 | +4.9% |
| EPS(一致预期口径) | $3.00 | $2.65 | +13.2% |
来自2026-10-20发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Instruments and Accessories | $18亿 | +18.3% | 59.0% | $68.8亿 | +19.1% | |
| Systems | $7.69亿 | +30.3% | 25.2% | $28.9亿 | +23.4% | |
| Services | $4.82亿 | +21.8% | 15.8% | $18.1亿 | +20.9% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Geographic Distribution, Domestic | $20.6亿 | +20.1% | 67.7% | $77.1亿 | – | |
| Geographic Distribution, Foreign | $9.86亿 | +25.2% | 32.3% | $38.7亿 | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $40.9亿
- 资本支出
- -$4.92亿
- 股票回购
- -$46.2亿
- 股息
- $0
- 收购
- -$4.85亿
- 债务净发行
- $0
- 股权激励费用
- $8.35亿
- 自由现金流
- $36亿
- 股东回报 / FCF
- 128.4%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 51.6× | 72.6× | 65.9× – 79.8× |
| EV / EBITDA | 35.7× | 52.2× | 47.0× – 58.5× |
| EV / 营收 | 12.9× | 19.0× | 14.9× – 22.2× |
| 股价 / FCF | 42.4× | 110.7× | 73.7× – 158.1× |
| 股价 / 净资产 | 9.4× | 10.2× | 8.5× – 11.3× |
| FCF收益率 | 2.4% | 1.0% | 0.6% – 1.4% |
| 投入资本回报率 | 16.0% | 12.5% | 11.4% – 13.7% |
| 净资产收益率 | 17.0% | 14.0% | 12.0% – 16.0% |
分析师
一致目标价 $485.44 (+12.4%)
区间 $357.44 – $558.00 · 评级 Buy
强烈买入0
买入40
持有12
卖出5
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $119亿 | +18.4% | $11.25 | +42.9% | 38.4× | 16 |
| FY2027 | $133亿 | +11.9% | $12.48 | +11.0% | 34.6× | 16 |
| FY2028 | $150亿 | +12.3% | $14.03 | +12.4% | 30.8× | 11 |
| FY2029 | $167亿 | +11.4% | $15.76 | +12.3% | 27.4× | 4 |
| FY2030 | $192亿 | +14.9% | $17.98 | +14.1% | 24.0× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Intuitive Surgical, Inc.在近期10-Q / 10-K文件中标记的全部311项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| $320万2026-03-31 | – | – | – | – | – | |
| Accounts Payable, Current | $2.8亿 | $2.91亿 | -4.0% | $2.55亿 | $1.93亿 | +31.9% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $17.2亿 | $12.6亿 | +36.6% | $15.3亿 | $12.3亿 | +24.6% |
| Accounts Receivable, Allowance for Credit Loss, Current | $2990万2025-12-31 | $3070万 | -2.6% | $2990万 | $3070万 | -2.6% |
| Accretion (Amortization) of Discounts and Premiums, Investments | $910万 | $1490万 | -38.9% | $5720万 | $4330万 | +32.1% |
| Accrued Income Taxes, Noncurrent | $2.74亿 | $2.31亿 | +18.3% | $1.94亿 | $2.39亿 | -19.0% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $22.8亿2025-12-31 | $18.8亿 | +21.0% | $22.8亿 | $18.8亿 | +21.0% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$6030万 | $2650万 | -327.5% | $4330万 | -$5130万 | +184.4% |
| Acquisition Costs, Period Cost | – | – | – | $1.3亿 | $1.11亿 | +17.1% |
| Additional Paid in Capital, Common Stock | $115亿 | $105亿 | +9.9% | $108亿 | $96.8亿 | +11.2% |
| Amortization of Intangible Assets | $930万 | $330万 | +181.8% | $1320万 | $1670万 | -21.0% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 370万 | 180万 | +105.6% | 100万 | 20万 | +400.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $2.18亿 | $2.05亿 | +5.9% | $7.97亿 | $6.83亿 | +16.7% |
| Assets | $193亿 | $194亿 | 0.0% | $205亿 | $187亿 | +9.2% |
| Assets, Current | $84.3亿 | $85.3亿 | -1.1% | $97.8亿 | $71.1亿 | +37.5% |
| Buildings and Improvements, Gross | $28.3亿2025-12-31 | $14.9亿 | +90.7% | $28.3亿 | $14.9亿 | +90.7% |
| Business Combination, Contingent Consideration, Liability, Current | $5830万2025-12-31 | $5720万 | +1.9% | $5830万 | $5720万 | +1.9% |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | $7520万2026-03-01 | – | – | – | – | – |
| Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue | $2000万2026-03-01 | – | – | – | – | – |
| Capital Expenditures Incurred but Not yet Paid | $1330万 | $510万 | +160.8% | $7060万 | $7720万 | -8.5% |
| Capitalized Computer Software, Gross | $2.99亿2025-12-31 | $2.84亿 | +5.5% | $2.99亿 | $2.84亿 | +5.5% |
| Capitalized Contract Cost, Amortization | $1060万2025-12-31 | $1070万 | -0.9% | $3800万 | $3770万 | +0.8% |
| Cash and Cash Equivalents, at Carrying Value | $29.8亿 | $28.1亿 | +6.1% | $33.7亿 | $20.3亿 | +66.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $30.2亿 | $28.5亿 | +6.1% | $34.1亿 | $20.6亿 | +65.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $2.17亿 | -$5.97亿 | +136.3% | $13.5亿 | -$7.08亿 | +290.1% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 6亿 | 6亿 | 0.0% | 6亿 | 6亿 | 0.0% |
| Common Stock, Shares, Issued | 3.47亿 | 3.55亿 | -2.3% | 3.55亿 | 3.57亿 | -0.4% |
| Common Stock, Shares, Outstanding | 3.47亿 | 3.55亿 | -2.3% | 3.55亿 | 3.57亿 | -0.4% |
| Common Stock, Value, Issued | $30万 | $40万 | -25.0% | $40万 | $40万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $230万 | $500万 | -54.0% | – | – | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $4.57亿 | $7.28亿 | -37.3% | $29.5亿 | $22.8亿 | +29.2% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $4.59亿 | $7.33亿 | -37.4% | $29.7亿 | $23亿 | +29.4% |
| Construction in Progress, Gross | $6.38亿2025-12-31 | $16.3亿 | -60.9% | $6.38亿 | $16.3亿 | -60.9% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $3380万 | $1820万 | +85.7% | $1530万 | $1390万 | +10.1% |
| Contract with Customer, Liability | $6.69亿 | $5.71亿 | +17.3% | $5.98亿 | $5.23亿 | +14.4% |
| Contract with Customer, Liability, Revenue Recognized | $9700万 | $9100万 | +6.6% | $4.59亿 | $4.22亿 | +8.8% |
| Cost of Goods and Services Sold | $9.64亿 | $8.43亿 | +14.4% | $34.2亿 | $27.2亿 | +25.9% |
| Current Federal Tax Expense (Benefit) | – | – | – | $2.36亿 | $3.22亿 | -26.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.21亿 | $1.02亿 | +19.1% |
| Current Income Tax Expense (Benefit) | – | – | – | $4.16亿 | $4.72亿 | -11.9% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $5890万 | $4790万 | +23.0% |
| Debt Securities, Available-for-sale | $42.7亿 | $60亿 | -28.8% | $62.3亿 | $68.4亿 | -8.8% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $30万 | $3950万 | -99.2% | $4130万 | $1480万 | +179.1% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $5970万 | $440万 | +1,256.8% | $170万 | $3370万 | -95.0% |
| Debt Securities, Available-for-sale, Allowance for Credit Loss | $10万 | $10万 | 0.0% | $10万 | $10万 | 0.0% |
| Debt Securities, Available-for-sale, Amortized Cost | $43.3亿 | $59.6亿 | -27.4% | $61.9亿 | $68.6亿 | -9.7% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $28.1亿 | $34.9亿 | -19.4% | $30.7亿 | $48.4亿 | -36.6% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $15.2亿 | $24.7亿 | -38.6% | $31.3亿 | $20.2亿 | +54.9% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $5480万 | $8.34亿 | -93.4% | $2.67亿 | $5.2亿 | -48.6% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $20万 | $370万 | -94.6% | $140万 | $920万 | -84.8% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $37.5亿 | $4.06亿 | +825.0% | $3.43亿 | $29.2亿 | -88.3% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $5950万 | $70万 | +8,400.0% | $30万 | $2450万 | -98.8% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $27.6亿 | $35.2亿 | -21.7% | $31亿 | $48.2亿 | -35.7% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $15.1亿 | $24.7亿 | -38.8% | $31.3亿 | $20.2亿 | +55.3% |
| Debt Securities, Available-for-sale, Unrealized Loss Position | $38.1亿 | $12.4亿 | +207.2% | $6.1亿 | $34.4亿 | -82.3% |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $5970万 | $440万 | +1,256.8% | $170万 | $3370万 | -95.0% |
| Decrease in Unrecognized Tax Benefits is Reasonably Possible | $3200万2025-09-30 | – | – | $6500万2024-12-31 | – | – |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$3440万 | -$1.58亿 | +78.2% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $6830万 | $4630万 | +47.5% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01