Intuitive Surgical annual operating margin
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Intuitive Surgical Operating Margin Growth & History (ISRG)
Intuitive Surgical's operating margin was 29.27% for fiscal 2025.
View full Intuitive Surgical company overviewIntuitive Surgical annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 29.27% | +1.14 pp |
| 2024 | 2024-12-31 | 28.12% | +3.32 pp |
| 2023 | 2023-12-31 | 24.80% | −0.55 pp |
| 2022 | 2022-12-31 | 25.35% | −6.54 pp |
| 2021 | 2021-12-31 | 31.89% | +7.80 pp |
| 2020 | 2020-12-31 | 24.09% | −6.60 pp |
| 2019 | 2019-12-31 | 30.69% | −1.51 pp |
| 2018 | 2018-12-31 | 32.21% | −1.66 pp |
| 2017 | 2017-12-31 | 33.87% | −1.22 pp |
| 2016 | 2016-12-31 | 35.09% | +4.05 pp |
| 2015 | 2015-12-31 | 31.04% | +5.48 pp |
| 2014 | 2014-12-31 | 25.56% | −12.08 pp |
| 2013 | 2013-12-31 | 37.64% | −2.67 pp |
| 2012 | 2012-12-31 | 40.30% | +0.76 pp |
| 2011 | 2011-12-31 | 39.54% | +0.25 pp |
| 2010 | 2010-12-31 | 39.29% | +3.42 pp |
| 2009 | 2009-12-31 | 35.87% | +0.34 pp |
| 2008 | 2008-12-31 | 35.52% | +1.11 pp |
| 2007 | 2007-12-31 | 34.41% | — |
Intuitive Surgical quarterly operating margin
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| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 33.60% | +3.14 pp |
| Q1 2026 | 2026-03-31 | 30.87% | +5.21 pp |
| Q4 2025 | 2025-12-31 | 30.15% | −0.29 pp |
| Q3 2025 | 2025-09-30 | 30.33% | +2.00 pp |
| Q2 2025 | 2025-06-30 | 30.47% | +2.24 pp |
| Q1 2025 | 2025-03-31 | 25.65% | +0.83 pp |
| Q4 2024 | 2024-12-31 | 30.45% | +7.10 pp |
| Q3 2024 | 2024-09-30 | 28.33% | +1.61 pp |
| Q2 2024 | 2024-06-30 | 28.23% | +1.85 pp |
| Q1 2024 | 2024-03-31 | 24.83% | +1.98 pp |
| Q4 2023 | 2023-12-31 | 23.35% | +0.84 pp |
| Q3 2023 | 2023-09-30 | 26.71% | +1.10 pp |
| Q2 2023 | 2023-06-30 | 26.38% | +0.26 pp |
| Q1 2023 | 2023-03-31 | 22.85% | −4.58 pp |
| Q4 2022 | 2022-12-31 | 22.51% | −6.54 pp |
| Q3 2022 | 2022-09-30 | 25.61% | −5.93 pp |
| Q2 2022 | 2022-06-30 | 26.12% | −8.80 pp |
| Q1 2022 | 2022-03-31 | 27.43% | −4.83 pp |
| Q4 2021 | 2021-12-31 | 29.04% | −2.24 pp |
| Q3 2021 | 2021-09-30 | 31.54% | +6.45 pp |
| Q2 2021 | 2021-06-30 | 34.92% | +25.46 pp |
| Q1 2021 | 2021-03-31 | 32.26% | +6.52 pp |
| Q4 2020 | 2020-12-31 | 31.28% | +0.17 pp |
| Q3 2020 | 2020-09-30 | 25.09% | −7.32 pp |
| Q2 2020 | 2020-06-30 | 9.46% | −23.21 pp |
| Q1 2020 | 2020-03-31 | 25.74% | −0.16 pp |
| Q4 2019 | 2019-12-31 | 31.12% | −0.61 pp |
| Q3 2019 | 2019-09-30 | 32.41% | −1.61 pp |
| Q2 2019 | 2019-06-30 | 32.67% | +2.16 pp |
| Q1 2019 | 2019-03-31 | 25.90% | −6.75 pp |
| Q4 2018 | 2018-12-31 | 31.72% | −5.16 pp |
| Q3 2018 | 2018-09-30 | 34.02% | −0.72 pp |
| Q2 2018 | 2018-06-30 | 30.51% | −3.74 pp |
| Q1 2018 | 2018-03-31 | 32.65% | +4.19 pp |
| Q4 2017 | 2017-12-31 | 36.88% | +1.46 pp |
| Q3 2017 | 2017-09-30 | 34.74% | −2.81 pp |
| Q2 2017 | 2017-06-30 | 34.25% | −2.37 pp |
| Q1 2017 | 2017-03-31 | 28.46% | −1.65 pp |
| Q4 2016 | 2016-12-31 | 35.43% | −0.92 pp |
| Q3 2016 | 2016-09-30 | 37.55% | +5.34 pp |
| Q2 2016 | 2016-06-30 | 36.62% | +6.97 pp |
| Q1 2016 | 2016-03-31 | 30.11% | +5.60 pp |
| Q4 2015 | 2015-12-31 | 36.35% | +5.57 pp |
| Q3 2015 | 2015-09-30 | 32.20% | +3.28 pp |
| Q2 2015 | 2015-06-30 | 29.65% | +1.73 pp |
| Q1 2015 | 2015-03-31 | 24.51% | +12.33 pp |
| Q4 2014 | 2014-12-31 | 30.78% | −5.43 pp |
| Q3 2014 | 2014-09-30 | 28.92% | −5.99 pp |
| Q2 2014 | 2014-06-30 | 27.92% | −9.85 pp |
| Q1 2014 | 2014-03-31 | 12.18% | −28.91 pp |
| Q4 2013 | 2013-12-31 | 36.20% | −4.52 pp |
| Q3 2013 | 2013-09-30 | 34.91% | −4.40 pp |
| Q2 2013 | 2013-06-30 | 37.77% | −4.22 pp |
| Q1 2013 | 2013-03-31 | 41.09% | +2.05 pp |
| Q4 2012 | 2012-12-31 | 40.72% | +0.56 pp |
| Q3 2012 | 2012-09-30 | 39.31% | −0.74 pp |
| Q2 2012 | 2012-06-30 | 41.99% | +2.51 pp |
| Q1 2012 | 2012-03-31 | 39.03% | +0.82 pp |
| Q4 2011 | 2011-12-31 | 40.16% | +0.68 pp |
| Q3 2011 | 2011-09-30 | 40.05% | +1.69 pp |
| Q2 2011 | 2011-06-30 | 39.49% | −0.35 pp |
| Q1 2011 | 2011-03-31 | 38.21% | −1.26 pp |
| Q4 2010 | 2010-12-31 | 39.48% | −0.26 pp |
| Q3 2010 | 2010-09-30 | 38.36% | +1.05 pp |
| Q2 2010 | 2010-06-30 | 39.83% | +1.65 pp |
| Q1 2010 | 2010-03-31 | 39.47% | +15.59 pp |
| Q4 2009 | 2009-12-31 | 39.74% | +3.71 pp |
| Q3 2009 | 2009-09-30 | 37.31% | +1.63 pp |
| Q2 2009 | 2009-06-30 | 38.18% | — |
| Q1 2009 | 2009-03-31 | 23.89% | — |
| Q3 2008 | 2008-09-30 | 36.03% | — |
| Q2 2008 | 2008-06-30 | 35.67% | — |
Intuitive Surgical operating margin trends
Over the last five reported fiscal years, Intuitive Surgical's operating margin increased from 24.09% to 29.27%, a change of +5.18 percentage points. The latest reported quarter, Q2 2026, shows 33.60%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Intuitive Surgical filings at SEC.gov ↗