Edwards Lifesciences Corp EW

Healthcare SIC 3842 - Orthopedic, Prosthetic & Surgical Appliances & Supplies NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical Appliance and Supplies Manufacturing derived NYSE

Edwards Lifesciences Corporation is the leading global structural heart innovation company, driven by a passion to improve patient lives. Through breakthrough technologies, world-class evidence, and meaningful partnerships with clinicians and healthcare stakeholders, our employees are inspired by our patient-focused culture to deliver life-changing innovations to those who need them most. Edwards Lifesciences has been a leader in our field for over six decades. Since our founder, Miles "Lowell" Edwards, first dreamed of using engineering to address diseases of the human heart, we have steadily built a company on the premise of imagining, building, and realizing a better future for patients.

Our innovative work encompasses both surgical and transcatheter therapies. In addition, our unique portfolio of repair and replacement technologies for aortic, mitral, tricuspid and pulmonic heart valves provides a broad set of treatment options to serve the many diverse and complex patients in need. Edwards remains committed to its strategy of transformative product innovation, high-quality, expansive clinical evidence to support approvals and adoption, as well as comprehensive support to ensure excellent real-world patient outcomes.

Last close 89.07 2026-10-23
Market cap $51.34B 2026-06-30 share count
52-week range 74.66 - 96.29

Valuation FY2025 figures against the last close

P/S8.5x
P/E48.7x
P/FCF38.5x
EV/EBITDA33.6x
Dividend yield—
Diluted EPS1.83

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $6.07B$5.44B$5.01B$4.46B$5.23B$4.39B$4.35B$3.72B$3.44B$2.96B
Cost of revenue $1.33B$1.12B$978.4M$723.7M$1.25B$1.08B$1.11B$939.4M$875.3M$797.4M
Gross profit $4.73B$4.32B$4.03B$3.74B$3.98B$3.31B$3.23B$2.78B$2.56B$2.17B
R&D $1.08B$1.05B$962.9M$843.6M$903.1M$760.7M$752.7M$622.2M$552.6M$442.2M
SG&A $2.09B$1.79B$1.58B$1.36B$1.49B$1.23B$1.24B$1.09B$990.8M$904.7M
Operating income $1.26B$1.38B$1.31B$1.50B$1.69B$897.6M$1.15B$748.2M$1.09B$751.2M
Interest expense $20.4M$19.8M$17.6M$19.2M$18.4M$15.8M$20.7M$29.9M$23.2M$19.2M
Pre-tax income $1.27B$1.55B$1.37B$1.52B$1.70B$916.7M$1.17B$761.4M$1.03B$737.9M
Income tax $216.9M$152.1M$152.4M$195.5M$198.9M$93.3M$119.6M$39.2M$451.3M$168.4M
Net income $1.07B$4.17B$1.40B$1.52B$1.50B—————
EPS, basic 1.846.982.312.462.411.321.681.152.772.67
EPS, diluted 1.836.972.302.442.381.301.641.132.702.61
Shares, diluted (wtd. avg.) 585.8M599.3M609.4M624.2M631.2M631.9M636.7M640.9M215.9M217.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $2.94B$3.05B$1.15B$772.6M$867.4M$1.20B$1.18B$715.9M$820.2M$930.1M
Short-term investments $1.29B$930.7M$500.5M$446.3M$604.0M$219.4M$337.8M$242.4M$519.2M$341.0M
Receivables $659.6M$609.1M$771.5M$643.0M$582.2M$514.6M$543.6M$456.9M$438.7M$365.5M
Inventory $1.13B$1.09B$903.5M$875.5M$726.7M$802.3M$640.9M$607.0M$554.9M$396.6M
Total current assets $6.74B$6.29B$4.04B$3.10B$3.18B$3.09B$2.98B$2.29B$2.55B$2.24B
Property, plant and equipment $1.81B$1.69B$1.59B$1.63B$1.55B$1.40B$1.06B$867.5M$679.7M$580.0M
Goodwill $1.77B$1.78B$1.15B$1.06B$1.17B$1.17B$1.17B$1.11B$1.13B$626.1M
Other intangibles $1.13B$1.18B$399.4M$285.2M$323.6M$331.4M$336.5M$343.2M$468.0M$204.8M
Total assets $13.70B$13.06B$9.36B$8.29B$8.50B$7.24B$6.49B$5.32B$5.67B$4.51B
Accounts payable $227.5M$197.4M$186.6M$201.9M$204.5M$196.5M$180.4M$134.0M$116.6M$97.1M
Short-term debt ———————$0$598.0M$0
Total current liabilities $1.81B$1.51B$1.20B$1.02B$1.03B$893.9M$902.4M$876.6M$1.42B$532.5M
Long-term debt $598.3M$597.7M$597.0M$596.3M$595.7M$595.0M$594.4M$593.8M$438.4M$822.3M
Total liabilities $3.36B$2.99B$2.64B$2.49B$2.67B$2.66B————
Retained earnings $14.24B$13.17B$8.99B$7.59B$6.07B$4.57B$3.74B$2.69B$1.96B$3.91B
Total equity $10.34B$10.00B$6.72B$5.81B$5.84B$4.57B$4.15B$3.14B$2.96B$2.62B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.60B$542.3M$895.8M$1.22B$1.73B$1.05B$1.18B$926.7M$1.00B$704.4M
Depreciation and amortisation $156.6M$155.2M$144.9M$139.6M$134.8M$107.2M$89.3M$77.4M$81.9M$71.2M
Stock-based compensation $158.1M$162.3M$139.4M$126.8M$109.3M$92.6M$81.3M$71.0M$61.6M$56.9M
Capital expenditure $260.2M$252.4M$253.0M$244.6M$325.8M$407.0M$254.4M$238.7M$168.1M$176.1M
Investing cash flow -$712.9M$2.31B$173.8M$252.3M-$1.72B-$531.1M-$595.8M$76.7M-$647.2M-$211.7M
Financing cash flow -$956.8M-$983.0M-$711.0M-$1.58B-$356.3M-$486.9M-$115.6M-$1.10B-$473.2M-$268.5M
Buybacks $893.4M$1.16B$879.6M$1.73B$512.8M$625.4M$263.3M$795.5M$763.3M$662.3M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001099800-26-000009.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2B 4B 6B 8B Revenue, FY2016: 3B Gross profit, FY2016: 2.2B Revenue, FY2017: 3.4B Gross profit, FY2017: 2.6B Revenue, FY2018: 3.7B Gross profit, FY2018: 2.8B Revenue, FY2019: 4.3B Gross profit, FY2019: 3.2B Revenue, FY2020: 4.4B Gross profit, FY2020: 3.3B Revenue, FY2021: 5.2B Gross profit, FY2021: 4B Net income, FY2021: 1.5B Revenue, FY2022: 4.5B Gross profit, FY2022: 3.7B Net income, FY2022: 1.5B Revenue, FY2023: 5B Gross profit, FY2023: 4B Net income, FY2023: 1.4B Revenue, FY2024: 5.4B Gross profit, FY2024: 4.3B Net income, FY2024: 4.2B Revenue, FY2025: 6.1B Gross profit, FY2025: 4.7B Net income, FY2025: 1.1B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.96B $3.44B $3.72B $4.35B $4.39B $5.23B $4.46B $5.01B $5.44B $6.07B
Gross profit $2.17B $2.56B $2.78B $3.23B $3.31B $3.98B $3.74B $4.03B $4.32B $4.73B
Net income — — — — — $1.50B $1.52B $1.40B $4.17B $1.07B

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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