ISRG vs. MS

Last updated Jun 9, 2026

ISRG (Intuitive Surgical, Inc.) and MS (Morgan Stanley) are both stocks. ISRG operates in Medical Instruments & Supplies (Healthcare), while MS operates in Capital Markets (Financial Services). Over the past 10 years, ISRG returned 19.37%/yr vs 27.13%/yr for MS. At a 0.33 correlation, their price movements are largely independent.

Performance

ISRG vs. MS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Intuitive Surgical, Inc. (ISRG) and Morgan Stanley (MS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISRG achieves a -26.09% return, which is significantly lower than MS's 20.86% return. Over the past 10 years, ISRG has underperformed MS with an annualized return of 19.37%, while MS has yielded a comparatively higher 27.13% annualized return.

ISRG

• 1D: -0.82%
• 1M: -6.99%
• YTD: -26.09%
• 6M: -26.16%
• 1Y: -24.86%
• 3Y*: 10.20%
• 5Y*: 8.37%
• 10Y*: 19.37%

MS

• 1D: 0.15%
• 1M: 9.92%
• YTD: 20.86%
• 6M: 21.34%
• 1Y: 64.89%
• 3Y*: 39.40%
• 5Y*: 21.89%
• 10Y*: 27.13%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ISRG vs. MS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISRG Intuitive Surgical, Inc.	-26.09%	8.51%	54.72%	27.14%	-26.15%	31.76%	38.39%	23.43%	31.23%	72.64%
MS Morgan Stanley	20.86%	45.16%	39.73%	13.93%	-10.34%	46.65%	38.09%	32.67%	-22.76%	26.61%

Correlation

The correlation between ISRG and MS is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Jun 16, 2000	0.33

Fundamentals

Market Cap ISRG : $150.62B MS : $338.10B
EPS ISRG : $8.24 MS : $11.41
PE Ratio ISRG : 50.80 MS : 18.59
PEG Ratio ISRG : 3.11 MS : 1.75
PS Ratio ISRG : 14.30 MS : 2.81
PB Ratio ISRG : 8.56 MS : 3.23
Total Revenue (TTM) ISRG : $10.58B MS : $120.22B
Gross Profit (TTM) ISRG : $7.02B MS : $69.72B
EBITDA (TTM) ISRG : $3.76B MS : $27.21B

Return for Risk

ISRG vs. MS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ISRG

ISRG Risk / Return Rank: 9
ISRG Sharpe Ratio Rank: 9
ISRG Sortino Ratio Rank: 10
ISRG Omega Ratio Rank: 11
ISRG Calmar Ratio Rank: 12
ISRG Martin Ratio Rank: 4

MS

MS Risk / Return Rank: 90
MS Sharpe Ratio Rank: 93
MS Sortino Ratio Rank: 90
MS Omega Ratio Rank: 91
MS Calmar Ratio Rank: 86
MS Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ISRG vs. MS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Intuitive Surgical, Inc. (ISRG) and Morgan Stanley (MS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ISRG	MS	Difference
Sharpe ratio: Return per unit of total volatility	-0.81	2.55	-3.36
Sortino ratio: Return per unit of downside risk	-1.14	3.16	-4.30
Omega ratio: Gain probability vs. loss probability	0.87	1.43	-0.56
Calmar ratio: Return relative to maximum drawdown	-0.78	3.46	-4.24
Martin ratio: Return relative to average drawdown	-1.60	11.46	-13.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISRG vs. MS - Sharpe Ratio Comparison

The current ISRG Sharpe Ratio is -0.81, which is lower than the MS Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of ISRG and MS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ISRG	MS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.81	2.55	-3.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.77	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.86	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.29	+0.18

Drawdowns

ISRG vs. MS - Drawdown Comparison

The maximum ISRG drawdown since its inception was -82.26%, smaller than the maximum MS drawdown of -88.12%. Use the drawdown chart below to compare losses from any high point for ISRG and MS.

Drawdown Indicators

	ISRG	MS	Difference
Max Drawdown Largest peak-to-trough decline	-82.26%	-88.12%	+5.86%
Max Drawdown (1Y) Largest decline over 1 year	-32.14%	-18.83%	-13.31%
Max Drawdown (3Y) Largest decline over 3 years	-34.10%	-29.24%	-4.86%
Max Drawdown (5Y) Largest decline over 5 years	-49.90%	-32.38%	-17.52%
Max Drawdown (10Y) Largest decline over 10 years	-49.90%	-51.33%	+1.43%
Current Drawdown Current decline from peak	-31.43%	-2.76%	-28.67%
Average Drawdown Average peak-to-trough decline	-21.28%	-33.70%	+12.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.18%	5.68%	+10.50%

Volatility

ISRG vs. MS - Volatility Comparison

Intuitive Surgical, Inc. (ISRG) has a higher volatility of 11.58% compared to Morgan Stanley (MS) at 8.06%. This indicates that ISRG's price experiences larger fluctuations and is considered to be riskier than MS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISRG	MS	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.58%	8.06%	+3.52%
Volatility (6M) Calculated over the trailing 6-month period	20.48%	21.21%	-0.73%
Volatility (1Y) Calculated over the trailing 1-year period	31.02%	25.62%	+5.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.17%	28.72%	+4.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.39%	31.51%	+0.88%

Dividends

ISRG vs. MS - Dividend Comparison

ISRG has not paid dividends to shareholders, while MS's dividend yield for the trailing twelve months is around 1.88%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISRG Intuitive Surgical, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MS Morgan Stanley	1.88%	2.17%	2.82%	3.49%	3.47%	2.14%	2.04%	2.54%	2.77%	1.72%	1.66%	1.73%

Financials

ISRG vs. MS - Profitability Comparison

The chart below illustrates the profitability comparison between Intuitive Surgical, Inc. and Morgan Stanley over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ISRG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Intuitive Surgical, Inc. reported a gross profit of 1.83B and revenue of 2.77B. Therefore, the gross margin over that period was 66.1%.

MS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Morgan Stanley reported a gross profit of 20.48B and revenue of 33.15B. Therefore, the gross margin over that period was 61.8%.

ISRG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Intuitive Surgical, Inc. reported an operating income of 855.30M and revenue of 2.77B, resulting in an operating margin of 30.9%.

MS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Morgan Stanley reported an operating income of 7.01B and revenue of 33.15B, resulting in an operating margin of 21.2%.

ISRG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Intuitive Surgical, Inc. reported a net income of 821.50M and revenue of 2.77B, resulting in a net margin of 29.7%.

MS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Morgan Stanley reported a net income of 5.64B and revenue of 33.15B, resulting in a net margin of 17.0%.

Frequently Asked Questions

Can I hold both ISRG and MS in my portfolio?

ISRG and MS have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISRG or MS?

ISRG has higher volatility (11.58%) compared to MS (8.06%). In terms of maximum drawdown, ISRG dropped -82.26% vs MS's -88.12%.

Which has better risk-adjusted returns?

MS currently has the higher Sharpe Ratio (2.55 vs -0.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.