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Overview

Edwards Lifesciences Corp

EWNYSEHealth CareOrthopedic, Prosthetic & Surgical Appliances & SuppliesCIK 0001099800Large-cap benchmark

Latest 10-K: FY2025, filed Feb 25, 2026 · Open the 10-K (Inline XBRL) ↗

Revenue
$6.07B
11.5%YoYup from FY2024
TotalRevenue
Gross profit
$4.73B
9.5%YoYup from FY2024
GrossProfit
Operating income
$1.26B
8.3%YoYdown from FY2024
OperatingIncome
Net income
$1.07B
74.3%YoYdown from FY2024
NetIncome
Diluted EPS
$1.83
73.7%YoYdown from FY2024
EPSDiluted
Diluted shares
585.8M
2.3%YoYdown from FY2024
WeightedAvgSharesDiluted

At a glance

Growth

  • Edwards Lifesciences Corp reported revenue of $6.07B for fiscal 2025, up 11.5% from fiscal 2024.
  • Revenue grew faster than the median S&P 500 member in 4 of the last 5 fiscal years.

Profitability

  • Operating margin was 20.8% and net margin was 17.7%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.

Per share

  • Diluted EPS was $1.83, down 73.7% from the prior year.
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Written from the filed figures on this page by fixed rules — no AI.

Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K

Financial statements

Annual figures from the 10-K, most recent fiscal year first.

Income Statement

5 annual periods

Chip: YoY change.

Income Statement, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: large-cap benchmark median change. Line under a label: how many large-cap benchmark companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Revenue
$6.07B11.5%up
Benchmark median 6.4%
$5.44B8.6%up
Benchmark median 4.5%
$5.01B12.2%up
Benchmark median 4.8%
$4.46B14.7%down
Benchmark median 10.3%
$5.23B19.3%up
Benchmark median 13.8%
3.8%
Benchmark median 6.6%
Gross Profit
Median of 315 / 498
$4.73B9.5%up
Benchmark median 6.8%
$4.32B7.2%up
Benchmark median 5.5%
$4.03B7.8%up
Benchmark median 5.2%
$3.74B6.1%down
Benchmark median 8.3%
$3.98B20.5%up
Benchmark median 15.7%
4.4%
Benchmark median 6.2%
Operating Income
Median of 373 / 498
$1.26B8.3%down
Benchmark median 7.3%
$1.38B5.3%up
Benchmark median 7.4%
$1.31B12.6%down
Benchmark median 4.9%
$1.50B11.4%down
Benchmark median 7.5%
$1.69B88.3%up
Benchmark median 23.5%
-7.0%
Benchmark median 7.2%
Net Income
$1.07B74.3%down
Benchmark median 4.8%
$4.17B197.7%up
Benchmark median 5.7%
$1.40B7.9%down
Benchmark median 1.9%
$1.52B1.3%up
Benchmark median 1.3%
$1.50B82.5%up
Benchmark median 33.9%
-8.1%
Benchmark median 4.1%
EPS (Diluted)
$1.8373.7%down
Benchmark median 6.2%
$6.97203.0%up
Benchmark median 7.9%
$2.305.7%down
Benchmark median 1.9%
$2.442.5%up
Benchmark median 1.5%
$2.3883.1%up
Benchmark median 34.8%
-6.4%
Benchmark median 5.6%

Balance Sheet

5 annual periods

Chip: YoY change.

Balance Sheet, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: large-cap benchmark median change. Line under a label: how many large-cap benchmark companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Total Assets
$13.70B4.9%up
Benchmark median 5.6%
$13.06B39.4%up
Benchmark median 3.4%
$9.36B12.9%up
Benchmark median 4.1%
$8.29B2.5%down
Benchmark median 2.2%
$8.50B17.5%up
Benchmark median 6.7%
12.7%
Benchmark median 4.7%
Total Liabilities
Median of 357 / 498
$3.36B12.3%up
Benchmark median 6.4%
$2.99B13.2%up
Benchmark median 1.9%
$2.64B6.4%up
Benchmark median 2.9%
$2.49B6.8%down
Benchmark median 2.0%
$2.67B0.1%up
Benchmark median 5.2%
5.9%
Benchmark median 4.4%
Stockholders' Equity
$10.34B2.7%up
Benchmark median 6.8%
$10.06B49.8%up
Benchmark median 5.4%
$6.72B15.7%up
Benchmark median 7.3%
$5.81B0.5%down
Benchmark median 2.5%
$5.84B27.6%up
Benchmark median 9.0%
15.4%
Benchmark median 6.1%
Cash & Equivalents
$2.94B3.5%down
Benchmark median 5.2%
$3.05B168.9%up
Benchmark median 1.9%
$1.13B47.2%up
Benchmark median 6.7%
$0.77B10.9%down
Benchmark median -8.6%
$0.86B27.1%down
Benchmark median -2.9%
35.8%
Benchmark median 2.0%
Total Debt
$598.30M†0.1%up
Benchmark median 2.1%
$597.70M†0.1%up
Benchmark median 0.2%
$597.00M†0.1%up
Benchmark median 0.3%
$596.30M†0.1%up
Benchmark median 0.1%
$595.70M†0.1%up
Benchmark median -0.1%
0.1%
Benchmark median 4.3%

† Sum of short-term and long-term debt; the company files no total-debt line.

Cash Flow Statement

5 annual periods

Chip: YoY change.

Cash Flow Statement, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: large-cap benchmark median change. Line under a label: how many large-cap benchmark companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Operating Cash Flow
$1.60B194.2%up
Benchmark median 6.3%
$0.54B39.5%down
Benchmark median 4.8%
$0.90B26.5%down
Benchmark median 9.9%
$1.22B29.7%down
Benchmark median -0.7%
$1.73B64.3%up
Benchmark median 10.7%
-2.0%
Benchmark median 7.0%
Capital Expenditures
$260.20M3.1%up
Benchmark median 5.4%
$252.40M0.2%down
Benchmark median 2.8%
$253.00M3.4%up
Benchmark median 11.3%
$244.60M24.9%down
Benchmark median 14.0%
$325.80M20.0%down
Benchmark median 8.1%
-5.5%
Benchmark median 9.0%
Free Cash Flow
Median of 378 / 498
$1.33B360.5%up
Benchmark median 7.3%
$0.29B54.9%down
Benchmark median 6.1%
$0.64B34.0%down
Benchmark median 8.8%
$0.97B30.8%down
Benchmark median -11.3%
$1.41B117.3%up
Benchmark median 10.2%
-1.3%
Benchmark median 4.9%

n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.

Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology

Ratios & valuation

FY2025

Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.

Valuation · Earnings yield

What a dollar of market value earned

2.1%

Wall Street

on net earnings

FY2024 9.4%

2.7%

Value investor

on free cash flow

FY2024 0.7%

Gap +0.6 pts: Value-investor figure 0.6 points higher

How it’s calculated

Wall Street · on net earnings

Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)

pe_ratio (ratio table)

P/E 46.6×

Value investor · on free cash flow

(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)

free cash flow ÷ market cap

Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.

Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.

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Smart money

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Peers, filings & research

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Research Reports

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Cite this page

Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/EW

APA-style text
Valuein. (2026, October 31). Edwards Lifesciences Corp (EW) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/EW
BibTeX
@misc{valuein_ew_2026,
  author = {{Valuein}},
  title = {Edwards Lifesciences Corp (EW) financial statements, earnings power and smart-money summary},
  year = {2026},
  howpublished = {\url{https://valuein.biz/data/EW}},
  note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}
Open 10-K in SEC Inline XBRL viewer

10-K filed Feb 25, 2026 · accession 0001099800-26-000009

Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.

point-in-time · survivorship-free · every number traceable to its SEC filing

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