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NMS · Valuation Lab
ISRG
Intuitive Surgical, Inc.
Last$375.20
Market cap134.4B
EV/EBITDA30.5x
Intrinsic value
$207.19
MoS -81.1% · Overvalued
Assuming 23.7% FCF margin and 18.5% Y1–5 growth.
Upside to price
EV (DCF)69B
Terminal share53%
Expected IV$213.56
Probability weights
Projected free cash flows
Stage FCF path with present values · terminal 53% of EV
PV of stage FCFs32.5B
PV of terminal value36.6B
Enterprise value69B
Net cash / (debt)5.2B
Equity value74.2B
Intrinsic value / share$207.19
| Year | Revenue | FCF | PV | DF |
|---|---|---|---|---|
| Y1 | 13.1B | 3.1B | 2.8B | 89.7% |
| Y2 | 15.5B | 3.7B | 3B | 80.4% |
| Y3 | 18.4B | 4.4B | 3.1B | 72.1% |
| Y4 | 21.8B | 5.2B | 3.3B | 64.7% |
| Y5 | 25.8B | 6.1B | 3.5B | 58.0% |
| Y6 | 28.2B | 6.7B | 3.5B | 52.0% |
| Y7 | 30.8B | 7.3B | 3.4B | 46.7% |
| Y8 | 33.7B | 8B | 3.3B | 41.9% |
| Y9 | 36.8B | 8.7B | 3.3B | 37.5% |
| Y10 | 40.2B | 9.5B | 3.2B | 33.7% |
| Terminal | — | — | 36.6B | — |
Educational DCF model only — not financial advice. Terminal value and assumptions dominate results; verify filings and run your own diligence.