Intuitive Surgical reported impressive fourth-quarter results, with revenue up 19% to $2.9 billion and net income rising to $795 million. Procedure growth remained strong, and the Da Vinci 5 adoption is increasing rapidly. Sales of Ion are outpacing the core Da Vinci platform, with system placements growing. The company’s financial profile is robust, with no debt and $9 billion in cash. However, shares are trading at a high valuation of 70 times earnings, and management forecasts a slower growth rate for 2026. Despite the high valuation, the fourth-quarter results support the case for long-term investment in Intuitive Surgical.

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