Edwards Lifesciences

US · EW #442 by market cap Listed 1970

85.78 -0.70 -0.81%

Live - 5344 symbols - heartbeat 64s ago · 2026-10-08 04:00

Pre-market 85.78 0.00%

After-hours 85.78 0.00%

Market cap: 49.44B
P/E (TTM): 49.87
P/B: 4.66
EPS: 1.83
Div yield: 0.00%
52W pos: 56%

Reader sentiment Are you bullish or bearish on EW?

Anonymous reader poll. Unscientific, not investment advice.

✦ Quant Financial Health how this is computed

Good

Altman Z-Score is 11.55, above the 3.0 "safe zone" threshold.
Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.

Revenue annual, last 8 years

Latest year +11.55% YoY

Margins

Gross margin: 78.01%
Operating margin: 26.97%
Net margin: 17.69%

Key ratios & quality

Enterprise value: 45.84B
Altman Z-Score: 11.55

Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.

Income statement

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	3.72B	4.35B	4.39B	5.23B	4.46B	5.01B	5.44B	6.07B
Gross profit	2.78B	3.23B	3.31B	3.98B	3.74B	4.03B	4.32B	4.73B
Selling & admin expenses	1.09B	1.24B	1.23B	1.49B	1.36B	1.58B	1.79B	2.09B
Research & development	622.20M	752.70M	760.70M	903.10M	843.60M	962.90M	1.05B	1.08B
Operating profit	1.07B	1.24B	1.32B	1.59B	1.54B	1.49B	1.48B	1.64B
Pretax profit	761.40M	1.17B	916.70M	1.70B	1.52B	1.37B	1.55B	1.27B
Tax	39.20M	119.60M	93.30M	198.90M	195.50M	152.40M	152.10M	216.90M
Net profit	722.20M	1.05B	823.40M	1.50B	1.52B	1.40B	4.17B	1.07B
Basic EPS	1	2	1	2	2	2	7	2
Diluted EPS	1.13	1.64	1.30	2.38	2.44	2.30	6.97	1.83

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Revenue	1.41B	1.53B	1.55B	1.57B	1.65B	1.74B
Gross profit	1.11B	1.19B	1.21B	1.23B	1.29B	1.35B
Selling & admin expenses	465.70M	502.00M	514.60M	602.90M	522.20M	561.20M
Research & development	254.60M	276.20M	280.70M	267.70M	263.30M	278.90M
Operating profit	409.90M	430.90M	425.10M	370.30M	514.70M	519.50M
Pretax profit	433.90M	400.20M	348.40M	90.40M	459.00M	519.80M
Tax	70.30M	64.30M	56.10M	26.20M	78.30M	278.40M
Net profit	356.40M	331.50M	290.30M	91.20M	380.70M	241.40M
Basic EPS	1	1	1	0	1	0
Diluted EPS	0.61	0.56	0.50	0.16	0.66	0.42

Balance sheet

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Total current assets	2.29B	2.98B	3.09B	3.18B	3.10B	4.04B	6.29B	6.74B
Cash & ST investments	956.50M	1.52B	1.40B	1.47B	1.22B	1.63B	3.98B	4.23B
Inventory	607.00M	640.90M	802.30M	726.70M	875.50M	903.50M	1.09B	1.13B
Total assets	5.32B	6.49B	7.24B	8.50B	8.29B	9.36B	13.06B	13.70B
Total current liabilities	876.60M	902.40M	893.90M	1.03B	1.02B	1.20B	1.51B	1.81B
Short-term debt	--	25.50M	27.20M	25.50M	25.50M	22.90M	23.40M	24.50M
Long-term debt	593.80M	594.40M	595.00M	595.70M	596.30M	597.00M	597.70M	598.30M
Total liabilities	2,183,300,000.00	2,339,800,000.00	2,662,800,000.00	2,666,700,000.00	2,485,800,000.00	2,643,800,000.00	2,992,400,000.00	3,359,600,000.00
Total equity	3.14B	4.15B	4.57B	5.84B	5.81B	6.72B	10.06B	10.34B
Retained earnings	2.69B	3.74B	4.57B	6.07B	7.59B	8.99B	13.17B	14.24B

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Total current assets	6.21B	6.58B	6.36B	6.74B	6.23B	6.82B
Cash & ST investments	3.90B	4.06B	3.84B	4.23B	3.67B	4.25B
Inventory	1.11B	1.14B	1.14B	1.13B	1.12B	1.13B
Total assets	13.02B	13.49B	13.27B	13.70B	13.32B	13.87B
Total current liabilities	1.39B	1.40B	1.59B	1.81B	1.41B	1.51B
Short-term debt	23.70M	25.90M	26.80M	24.50M	24.30M	24.10M
Long-term debt	597.80M	598.00M	598.20M	598.30M	598.50M	598.70M
Total liabilities	2,830,700,000.00	2,882,200,000.00	3,067,200,000.00	3,359,600,000.00	2,993,700,000.00	3,142,200,000.00
Total equity	10.19B	10.61B	10.21B	10.34B	10.33B	10.72B
Retained earnings	13.53B	13.86B	14.15B	14.24B	14.62B	14.86B

Cash flow

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Operating cash flow	926.70M	1.18B	1.05B	1.73B	1.22B	895.80M	542.30M	1.60B
Depreciation & amortization	77.40M	89.30M	107.20M	134.80M	139.60M	144.90M	155.20M	156.60M
Free cash flow	685.00M	904.50M	647.00M	1.40B	953.40M	629.50M	259.90M	1.34B
Dividends paid	--	--	--	--	--	--	--	--
Stock buybacks / issuance	-795.50M	-263.30M	-625.40M	-512.80M	-1.73B	-879.60M	-1.16B	-893.40M
Ending cash balance	715.90M	1.18B	1.20B	867.40M	772.60M	1.15B	3.06B	2.94B

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Operating cash flow	280.40M	290.20M	573.70M	450.90M	43.80M	651.90M
Depreciation & amortization	36.60M	38.10M	39.20M	42.70M	40.90M	42.70M
Free cash flow	224.40M	240.90M	516.20M	353.50M	-21.10M	585.00M
Dividends paid	--	--	--	--	--	--
Stock buybacks / issuance	-258.60M	-5.50M	-588.70M	-40.60M	-421.80M	-153.30M
Ending cash balance	3.15B	3.29B	2.69B	2.94B	2.45B	2.91B

Returns & efficiency

Line item	2018	2019	2020	2021	2022	2023	2024	2025
ROE %	23.69	28.73	18.88	28.88	26.14	22.52	50.15	10.56
ROA %	13.11	17.73	12.00	19.10	18.12	15.89	37.24	8.03
ROIC %	20.21	24.14	16.18	25.50	23.15	19.63	45.27	8.74
5-year avg ROE %	26.27	23.34	22.89	24.22	25.26	25.03	29.31	27.65
EBIT margin %	21.26	27.30	21.26	32.88	33.19	26.91	28.82	21.31
FCF / sales %	18.40	20.72	14.75	26.80	17.71	10.48	4.78	22.00
Current ratio	2.61	3.31	3.46	3.08	3.03	3.38	4.18	3.72
Quick ratio	1.70	2.34	2.24	2.07	1.87	2.06	3.12	2.83
Debt / assets	11.15	10.46	9.60	8.12	8.34	7.32	5.36	5.15
LT debt / equity	18.91	15.75	14.60	11.39	11.47	9.96	6.77	6.59
Interest coverage	26.46	57.35	59.02	93.50	93.05	91.80	79.19	63.40
Revenue CAGR (3Y) %	14.29	13.63	8.49	12.02	0.88	4.53	1.30	10.77
Net income CAGR (3Y) %	13.43	22.50	12.16	27.68	13.28	19.42	40.56	-10.98
FCF CAGR (3Y) %	15.62	22.92	-7.79	26.97	1.77	-0.91	-42.99	11.88

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
ROE %	48.48	46.10	13.85	10.56	10.72	9.50
ROA %	36.74	35.15	10.42	8.03	8.32	7.35
ROIC %	44.84	41.34	11.51	8.74	10.03	7.94
5-year avg ROE %	--	--	--	--	--	--
EBIT margin %	29.33	29.48	29.01	21.31	22.18	22.83
FCF / sales %	11.28	10.17	13.59	22.00	17.28	22.01
Current ratio	4.45	4.68	4.00	3.72	4.42	4.52
Quick ratio	3.33	3.53	2.98	2.83	3.30	3.45
Debt / assets	5.37	5.21	5.28	5.15	5.28	5.08
LT debt / equity	6.67	6.42	6.60	6.59	6.57	6.41
Interest coverage	--	--	--	63.40	--	--
Revenue CAGR (3Y) %	--	--	--	--	--	--
Net income CAGR (3Y) %	--	--	--	--	--	--
FCF CAGR (3Y) %	--	--	--	--	--	--

✦ Quant Revenue Concentration how this is computed

Single-engine

Transcatheter Aortic Valve Replacement is the largest reported line at 72.27% of revenue, across 3 reported segments.
The next-largest line, Surgical, is a distant second at 16.32% - a sharp slowdown here would have little to offset it.

Revenue breakdown most recent period

Business

Transcatheter Aortic Valve Replacement72.27%

Surgical16.32%

Transcatheter Mitral and Tricuspid Therapies11.41%

Quote time 2026-10-08 04:00:07 · For reference only, not investment advice and not tailored to your situation.