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Intuitive Surgical vs Smith & Nephew: revenue, profit, margins and growth compared

Intuitive Surgical brought in $10.1B of revenue in fiscal 2025, Smith & Nephew $6.2B in fiscal 2025. Revenue changed by +20.5% at Intuitive Surgical and +6.1% at Smith & Nephew on the year before, so Intuitive Surgical grew faster. Intuitive Surgical kept 28.4% of its revenue as net profit, Smith & Nephew 10.1%.

Side by side, latest fiscal year

ISRGSNN
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$10.1B$6.2B
Revenue growth+20.5%+6.1%
Net income$2.9B$625M
Net margin28.4%10.1%
Free cash flow$2.5Bn/a
Free cash flow margin24.7%n/a
Earnings per share (diluted)$7.87$0.72
Cash$3.4B$557M
Debtn/a$3.1B
Price to earnings52.7n/a
Market value$146.5B$11.5B
Dividend yieldn/an/a
Rank by revenue in sector#48 of 742 · Health care#56 of 742 · Health care

Over the years

Revenue
ISRG FY2018: $3.7BISRG FY2019: $4.5BISRG FY2020: $4.4BISRG FY2021: $5.7BISRG FY2022: $6.2BISRG FY2023: $7.1BISRG FY2024: $8.4BISRG FY2025: $10.1BSNN FY2018: $4.9BSNN FY2019: $5.1BSNN FY2020: $4.6BSNN FY2021: $5.2BSNN FY2022: $5.2BSNN FY2023: $5.5BSNN FY2024: $5.8BSNN FY2025: $6.2BFY18FY19FY20FY21FY22FY23FY24FY25
ISRG $10.1BSNN $6.2B
Net income
ISRG FY2018: $1.1BISRG FY2019: $1.4BISRG FY2020: $1.1BISRG FY2021: $1.7BISRG FY2022: $1.3BISRG FY2023: $1.8BISRG FY2024: $2.3BISRG FY2025: $2.9BSNN FY2018: $663MSNN FY2019: $600MSNN FY2020: $448MSNN FY2021: $524MSNN FY2022: $223MSNN FY2023: $263MSNN FY2024: $412MSNN FY2025: $625MFY18FY19FY20FY21FY22FY23FY24FY25
ISRG $2.9BSNN $625M
Net margin
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%SNN FY2018: 13.5%SNN FY2019: 11.7%SNN FY2020: 9.8%SNN FY2021: 10.1%SNN FY2022: 4.3%SNN FY2023: 4.7%SNN FY2024: 7.1%SNN FY2025: 10.1%FY18FY19FY20FY21FY22FY23FY24FY25
ISRG 28.4%SNN 10.1%
Revenue growth
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%SNN FY2019: +4.8%SNN FY2020: -11.2%SNN FY2021: +14.3%SNN FY2022: +0.1%SNN FY2023: +6.4%SNN FY2024: +4.7%SNN FY2025: +6.1%FY19FY20FY21FY22FY23FY24FY25
ISRG +20.5%SNN +6.1%
Free cash flow
ISRG FY2018: $982.2MISRG FY2019: $1.2BISRG FY2020: $1.1BISRG FY2021: $1.7BISRG FY2022: $958.4MISRG FY2023: $749.6MISRG FY2024: $1.3BISRG FY2025: $2.5BFY18FY19FY20FY21FY22FY23FY24FY25
ISRG $2.5BSNN

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

Questions about Intuitive Surgical and Smith & Nephew

Which is bigger by revenue, Intuitive Surgical or Smith & Nephew?

Intuitive Surgical is bigger by revenue: $10.1B in fiscal 2025, against $6.2B for Smith & Nephew in fiscal 2025.

Which keeps more of its revenue as profit, Intuitive Surgical or Smith & Nephew?

Intuitive Surgical had a net margin of 28.4% in fiscal 2025; Smith & Nephew had 10.1% in fiscal 2025.

Which grew revenue faster, Intuitive Surgical or Smith & Nephew?

In their latest fiscal years revenue changed by +20.5% at Intuitive Surgical and +6.1% at Smith & Nephew.

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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