Intuitive SurgicalISRG +5.87%95 ROC (Joel Greenblatt) % is 46.90% as of Mar. 2026, which is 36% below its 10-year median of 73.61. GuruFocus rates ISRG with a GF Score™ of 95/100 and a GF Value™ of $602.86 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 840 Medical Devices & Instruments companies, Intuitive Surgical ranks better than 88.81% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Intuitive Surgical's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 46.90%.
The historical rank and industry rank for Intuitive Surgical's ROC (Joel Greenblatt) % or its related term are showing as below:
ISRG'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 45.5 Med: 73.61 Max: 167.55
Current: 47.55
During the past 13 years, Intuitive Surgical's highest ROC (Joel Greenblatt) % was 167.55%. The lowest was 45.50%. And the median was 73.61%.
ISRG's ROC (Joel Greenblatt) % is ranked better than 88.81% of 840
companies
in the Medical Devices & Instruments industry
Industry Median: 4.035
vs ISRG: 47.55
Intuitive Surgical's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -9.20% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Intuitive Surgical ROC (Joel Greenblatt) % Related Terms
Intuitive Surgical ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Intuitive Surgical's ROC (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ISRG vs BDX, MDLN, RMD: ROC (Joel Greenblatt) % Comparison
For the Medical Instruments & Supplies subindustry, Intuitive Surgical's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Intuitive Surgical ROC (Joel Greenblatt) % vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Intuitive Surgical's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Intuitive Surgical's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 46.90% mean?
Intuitive Surgical (ISRG) has a ROC (Joel Greenblatt) % of 46.90% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Intuitive Surgical and its competitors. This is 36% below median its historical median of 73.61. Over the past decade, Intuitive Surgical's ROC (Joel Greenblatt) % has ranged from 45.50 to 167.55. According to the industry distribution chart, Intuitive Surgical ranks #94 out of 840 companies in the Medical Devices & Instruments industry, placing it in the top 11.2%.
Is Intuitive Surgical's ROC (Joel Greenblatt) % too high?
Intuitive Surgical's current ROC (Joel Greenblatt) % of 46.90% is 36% below median its 10-year median of 73.61. Over the past 10 years, this metric has ranged from a low of 45.50 to a high of 167.55. The Medical Devices & Instruments industry median ROC (Joel Greenblatt) % is 4.04. Intuitive Surgical's value of 46.90% is 1062.3% above this industry median. Based on the distribution chart, Intuitive Surgical ranks #94 out of 840 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, Intuitive Surgical has a GF Score™ of 95/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Intuitive Surgical's ROC (Joel Greenblatt) % compare to BDX and MDLN?
According to the Medical Devices & Instruments industry distribution chart, Intuitive Surgical ranks #94 out of 840 companies for ROC (Joel Greenblatt) %. This places Intuitive Surgical in the top 11% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 4.04. Intuitive Surgical's value of 46.90% is 1062.3% above this benchmark. Historically, Intuitive Surgical's own ROC (Joel Greenblatt) % has ranged from 45.50 to 167.55 over the past decade. While the company's 10-year median is 73.61 vs. the industry median of 4.04, Intuitive Surgical has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Medical Devices & Instruments company?
The median ROC (Joel Greenblatt) % among Medical Devices & Instruments companies is 4.04, based on 840 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Intuitive Surgical's current ROC (Joel Greenblatt) % of 46.90% is 1062.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Intuitive Surgical and its competitors. For the Medical Devices & Instruments industry, the median ROC (Joel Greenblatt) % is 4.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Intuitive Surgical's current ROC (Joel Greenblatt) % is 46.90%, which is 36% below median its own 10-year median of 73.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Intuitive Surgical stock overvalued right now?
Based on GuruFocus' analysis, Intuitive Surgical (ISRG) is currently considered Modestly Undervalued. The stock's GF Value™ is $602.86, compared to a current price of $426.01 — trading 29.3% below its estimated fair value. The current ROC (Joel Greenblatt) % is 46.90%, which is 36% below median its 10-year median of 73.61 and 1062.3% above the Medical Devices & Instruments industry median of 4.04. Intuitive Surgical's overall GF Score™ is 95/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Intuitive Surgical (ISRG), the current ROC (Joel Greenblatt) % is 46.90% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Intuitive Surgical (ISRG) Overvalued in 2026?
Based on GuruFocus' analysis, Intuitive Surgical stock appears to be undervalued.
The current stock price of $426.01 is trading 29.3% below its estimated GF Value™ of $602.86.
GuruFocus considers Intuitive Surgical to be Modestly Undervalued.
Key valuation signals for ISRG:
ROC (Joel Greenblatt) %: 46.90% (36% below median its 10-year median of 73.61)
GF Value™: $602.86 vs. price of $426.01 (29.3% below fair value)
Industry Position: 1062.3% above the Medical Devices & Instruments median (#94 of 840)
No single metric tells the full story. See the ISRG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Intuitive develops, produces, and markets a robotic system for assisting minimally invasive surgery. It also provides the instrumentation, disposable accessories, and warranty services for the system. The company has placed more than 10,000 da Vinci systems in hospitals worldwide, with more than 6,000 installations in the US and a growing number in emerging markets.
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