| Intrinsic Valuation of: ISRG | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 8 | Market Cap | $149B | |||||
| 2021 | - | - (-) | P/E Ratio | 51 | Total Asset | $20B | |||||
| 2022 | $958M | - (-) | Net Income | - | Total Debt | $0 | |||||
| 2023 | $750M | -21.8% (-31.7%) | EBITDA | $4B | Total Liab | $3B | |||||
| 2024 | $1B | 73.9% (48.4%) | Opr Margin | 29.27 | Debt/Equity | - | |||||
| 2025 | $2B | 91.0% (58.5%) | PreTax Margin | 29.27 | BV/Share | 49 | |||||
| 5Y Average FCF | $1B | 15.0% (25.1%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.48% | Historical US Bond Yield: | 4.40% | ||||||||
| Discount Rate (WACC): | 11.78% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (15.0%) | ||||||||||
| 2026 | $2B | MBG Intrinsic Value | $74 | ||||||||
| 2027 | $3B | ||||||||||
| 2028 | $3B | ||||||||||
| 2029 | $3B | ||||||||||
| 2030 | $3B | ||||||||||
| 2031 | $4B | ||||||||||
| Terminal Value | $39B | Net Worth/Share | $51 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $33B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $3B | $102 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 9.8% | 117 | 122 | 128 | 134 | 141 | |||
| Equity Value | $36B | 10.8% | 105 | 109 | 113 | 118 | 123 | ||||
| Shares Outstanding | 354,162,842 | 11.8% | 96 | 98 | 102 | 105 | 109 | ||||
| 12.8% | 88 | 90 | 92 | 95 | 98 | ||||||
| DCF Intrinsic Value | $102 | 13.8% | 81 | 83 | 85 | 87 | 89 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||