ISRG Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	149.78B EUR	140.74B EUR	163.37B EUR	201.11B EUR
Enterprise Value	141.67B EUR	137.98B EUR	161.37B EUR	197.75B EUR
Valuation Multiples
Trailing P/E	48.62x	44.84x	54.84x	93.21x
Forward P/E	35x	--	--	--
Price to Sales	13.57x	12.75x	15.44x	25.75x
Price to Book	8.26x	7.75x	9.35x	11.28x
EV/Revenue	12.84x	12.5x	15.25x	25.32x
EV/EBITDA	33.89x	32.5x	40.85x	68.31x
Price to FCF (P/FCF)	57.27x	43.67x	57.64x	99.28x
EV/FCF	54.17x	42.82x	56.93x	97.62x
FCF Yield	1.75%	2.29%	1.73%	1.01%