Edwards Lifesciences Corp (EW)
Edwards Lifesciences Corporation provides products and technologies to treat advanced cardiovascular diseases in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL and EVOQUE brands. The company also provides surgical structural heart solutions, such as aortic surgical valve under the INSPIRIS brand name; INSPIRIS RESILIA aortic valve, which offers RESILIA tissue and VFit technology; KONECT RESILIA, a pre-assembled tissue valve conduit for complex combined procedures; and MITRIS RESILIA valve. It distributes its products through a direct sales force and independent distributors. Edwards Lifesciences Corporation was founded in 1958 and is headquartered in Irvine, California.
- Symbol
- EW
- Exchange
- NYSE
- Sector
- Healthcare
- Industry
- Medical Devices
- Market cap
- $49.10B
- 52 week range
- 72.3 - 96.29
Valuation
- Share price
- $85.15 (close of 2026-10-02)
- P/E (TTM)
- 48.94x
- Price to book
- 4.58x
- Price to free cash flow
- 34.25x
- Enterprise value
- $45.55B
- Book value per share
- $18.60
Price performance
| Period | Change |
|---|---|
| 1 day | -0.05% |
| 5 days | -1.32% |
| 1 month | -6.24% |
| 3 months | -9.77% |
| 6 months | +5.06% |
| Year to date | -0.12% |
| 1 year | +11.09% |
| 3 years | +23.08% |
| 5 years | -24.16% |
| 10 years | +111.87% |
| All time | +6070.29% |
Members of Congress who disclosed EW trades
Bruce Westerman · Jefferson Shreve · Alan Armstrong · Josh Gottheimer · Robert Bresnahan
Super investors holding EW
Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates) · David Rolfe (Wedgewood Partners Inc)
Profitability and growth
- Return on equity
- 10.38%
- Return on invested capital
- 15.36%
- Return on assets
- 7.84%
- Return on capital employed
- 10.64%
- Gross margin
- 78.01%
- Net margin
- 17.69%
- EBITDA margin
- 23.42%
- Revenue growth
- 11.55%
- Net income growth
- -74.28%
- Free cash flow growth
- 360.50%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 2.92%
- Current ratio
- 4.52x
- Net debt to EBITDA
- -2.15x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $6.07B
- Cost of revenue
- $1.33B
- Gross profit
- $4.73B
- EBITDA
- $1.42B
- Net income
- $1.07B
- Earnings per share
- $1.84
- Research and development
- $1.08B
- Shares outstanding
- 584.80M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|---|---|---|---|
| 2025-12-31 | $6.07B | $4.73B | $1.07B | $1.84 |
| 2024-12-31 | $5.44B | $4.32B | $4.17B | $6.98 |
| 2023-12-31 | $5.01B | $4.03B | $1.40B | $2.31 |
| 2022-12-31 | $4.46B | $3.74B | $1.52B | $2.46 |
| 2021-12-31 | $5.23B | $3.98B | $1.50B | $2.41 |
| 2020-12-31 | $4.39B | $3.31B | - | $1.32 |
| 2019-12-31 | $4.35B | $3.23B | - | $1.68 |
| 2018-12-31 | $3.72B | $2.78B | - | $1.15 |
| 2017-12-31 | $3.44B | $2.56B | - | $0.92 |
| 2016-12-31 | $2.96B | $2.17B | - | $0.89 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|---|---|---|---|
| 2025-12-31 | 78.01% | 17.69% | 10.38% | 15.36% |
| 2024-12-31 | 79.46% | 76.75% | 41.49% | 18.07% |
| 2023-12-31 | 80.47% | 27.99% | 20.87% | 20.04% |
| 2022-12-31 | 83.79% | 34.09% | 26.21% | 24.66% |
| 2021-12-31 | 76.13% | 28.73% | 25.76% | 29.48% |
| 2020-12-31 | 75.36% | 0.00% | 0.00% | 20.80% |
| 2019-12-31 | 74.37% | 0.00% | 0.00% | 31.03% |
| 2018-12-31 | 74.77% | 0.00% | 0.00% | 25.52% |
| 2017-12-31 | 74.52% | 0.00% | 0.00% | 24.03% |
| 2016-12-31 | 73.09% | 0.00% | 0.00% | 26.85% |
Cash and debt by year
| Period end | Cash | Debt |
|---|---|---|
| 2025-12-31 | $4.23B | $598.30M |
| 2024-12-31 | $3.98B | $597.70M |
| 2023-12-31 | $1.63B | $597.00M |
| 2022-12-31 | $1.22B | $596.30M |
| 2021-12-31 | $1.47B | $595.70M |
| 2020-12-31 | $1.40B | $595.00M |
| 2019-12-31 | $1.52B | $594.40M |
| 2018-12-31 | $956.50M | $593.80M |
| 2017-12-31 | $1.34B | $438.40M |
| 2016-12-31 | $1.27B | $822.30M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|---|---|
| 2025-12-31 | $1.33B | $158.10M |
| 2024-12-31 | $289.90M | $162.30M |
| 2023-12-31 | $642.80M | $139.40M |
| 2022-12-31 | $973.60M | $126.80M |
| 2021-12-31 | $1.41B | $109.30M |
| 2020-12-31 | $647.30M | $92.60M |
| 2019-12-31 | $928.50M | $81.30M |
| 2018-12-31 | $688.00M | $71.00M |
| 2017-12-31 | $832.60M | $61.60M |
| 2016-12-31 | $528.30M | $56.90M |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-29
- Consensus EPS estimate
- $0.73
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-07-23 | Jun/2026 | $0.73 |
| 2026-04-23 | Mar/2026 | $0.75 |
| 2026-02-10 | Dec/2025 | $0.62 |
| 2025-10-30 | Sep/2025 | $0.59 |
| 2025-07-24 | Jun/2025 | $0.62 |
| 2025-04-23 | Mar/2025 | $0.60 |
| 2025-02-11 | Dec/2024 | $0.55 |
| 2024-10-24 | Sep/2024 | $0.67 |
Filings and sources
- Company website
- edwards.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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