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Inogen vs Intuitive Surgical: revenue, profit, margins and growth compared

Inogen brought in $348.7M of revenue in fiscal 2025, Intuitive Surgical $10.1B in fiscal 2025. Revenue changed by +3.9% at Inogen and +20.5% at Intuitive Surgical on the year before, so Intuitive Surgical grew faster. Inogen kept -6.5% of its revenue as net profit, Intuitive Surgical 28.4%. Free cash flow was -$13.7M at Inogen and $2.5B at Intuitive Surgical.

Side by side, latest fiscal year

INGNISRG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$348.7M$10.1B
Revenue growth+3.9%+20.5%
Net income-$22.7M$2.9B
Net margin-6.5%28.4%
Free cash flow-$13.7M$2.5B
Free cash flow margin-3.9%24.7%
Earnings per share (diluted)-$0.86$7.87
Cash$103.7M$3.4B
Debtn/an/a
Price to earningsn/a51.5
Market value$142.2M$143.1B
Dividend yieldn/an/a
Rank by revenue in sector#213 of 523 · Health care#46 of 523 · Health care

Over the years

Revenue
INGN FY2018: $358.1MINGN FY2019: $361.9MINGN FY2020: $308.5MINGN FY2021: $358MINGN FY2022: $377.2MINGN FY2023: $315.7MINGN FY2024: $335.7MINGN FY2025: $348.7MISRG FY2018: $3.7BISRG FY2019: $4.5BISRG FY2020: $4.4BISRG FY2021: $5.7BISRG FY2022: $6.2BISRG FY2023: $7.1BISRG FY2024: $8.4BISRG FY2025: $10.1BFY18FY19FY20FY21FY22FY23FY24FY25
INGN $348.7MISRG $10.1B
Net income
INGN FY2018: $51.8MINGN FY2019: $21MINGN FY2020: -$5.8MINGN FY2021: -$6.3MINGN FY2022: -$83.8MINGN FY2023: -$102.4MINGN FY2024: -$35.9MINGN FY2025: -$22.7MISRG FY2018: $1.1BISRG FY2019: $1.4BISRG FY2020: $1.1BISRG FY2021: $1.7BISRG FY2022: $1.3BISRG FY2023: $1.8BISRG FY2024: $2.3BISRG FY2025: $2.9BFY18FY19FY20FY21FY22FY23FY24FY25
INGN -$22.7MISRG $2.9B
Net margin
INGN FY2018: 14.5%INGN FY2019: 5.8%INGN FY2020: -1.9%INGN FY2021: -1.8%INGN FY2022: -22.2%INGN FY2023: -32.5%INGN FY2024: -10.7%INGN FY2025: -6.5%ISRG FY2018: 30.3%ISRG FY2019: 30.8%ISRG FY2020: 24.3%ISRG FY2021: 29.9%ISRG FY2022: 21.3%ISRG FY2023: 25.2%ISRG FY2024: 27.8%ISRG FY2025: 28.4%FY18FY19FY20FY21FY22FY23FY24FY25
INGN -6.5%ISRG 28.4%
Revenue growth
INGN FY2019: +1.1%INGN FY2020: -14.8%INGN FY2021: +16.1%INGN FY2022: +5.4%INGN FY2023: -16.3%INGN FY2024: +6.4%INGN FY2025: +3.9%ISRG FY2019: +20.3%ISRG FY2020: -2.7%ISRG FY2021: +31.0%ISRG FY2022: +9.0%ISRG FY2023: +14.5%ISRG FY2024: +17.2%ISRG FY2025: +20.5%FY19FY20FY21FY22FY23FY24FY25
INGN +3.9%ISRG +20.5%
Free cash flow
INGN FY2018: $51.9MINGN FY2019: $37.5MINGN FY2020: $32.6MINGN FY2021: $18.2MINGN FY2022: -$40.9MINGN FY2023: -$8.5MINGN FY2024: $2.6MINGN FY2025: -$13.7MISRG FY2018: $982.2MISRG FY2019: $1.2BISRG FY2020: $1.1BISRG FY2021: $1.7BISRG FY2022: $958.4MISRG FY2023: $749.6MISRG FY2024: $1.3BISRG FY2025: $2.5BFY18FY19FY20FY21FY22FY23FY24FY25
INGN -$13.7MISRG $2.5B

Fiscal years as each company reports them; the two may end in different months.

Questions about Inogen and Intuitive Surgical

Which is bigger by revenue, Inogen or Intuitive Surgical?

Intuitive Surgical is bigger by revenue: $10.1B in fiscal 2025, against $348.7M for Inogen in fiscal 2025.

Which keeps more of its revenue as profit, Inogen or Intuitive Surgical?

Inogen had a net margin of -6.5% in fiscal 2025; Intuitive Surgical had 28.4% in fiscal 2025.

Which grew revenue faster, Inogen or Intuitive Surgical?

In their latest fiscal years revenue changed by +3.9% at Inogen and +20.5% at Intuitive Surgical.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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