What is Edwards Lifesciences Corp's earnings per share (EPS)?

Edwards Lifesciences Corp (EW) reported diluted earnings per share of $1.83 for fiscal year 2025. This represents a -73.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Edwards Lifesciences Corp (EW) Financials

Trailing 12 months to June 30, 2026

Revenue $6.5B +14.6% YoY

Net Income $1.0B -75.8% YoY

EPS (Diluted) $1.74 -75.0% YoY

Free Cash Flow $1.4B +143.9% YoY

Market Cap $49.1B as of Oct 3, 2026

Price / Sales 7.5x on $6.5B revenue, trailing 12 months to June 30, 2026

Price / Earnings 48.8x on $1.0B net income, trailing 12 months to June 30, 2026

Price / Book 4.6x on $10.6B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 4, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EW SEC filings page.

Edwards Lifesciences Corp (EW) reported $6.5B in revenue over the twelve months to Jun 30, 2026, up 14.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI EW FY2025 2026-10-03

Revenue growth returned to cash generation, but rising operating costs compressed margins while debt remained modest.

In FY2024, net income of $4.17B converted into only $542M of operating cash flow, so reported earnings substantially exceeded cash earnings. In FY2025, net income of $1.07B converted into $1.60B of operating cash flow, showing that earnings quality shifted sharply rather than following a smooth operating pattern.

FY2025 revenue reached $6.07B, yet operating profit margin fell from 25.4% to 20.8% as selling, general and administrative expense rose to $2.09B. The combination points to growth being absorbed by overhead rather than dropping through proportionally to operating profit.

The balance sheet remains lightly debt-funded: debt-to-equity was just 5.8% and the current ratio was 3.7x. With free cash flow of $1.34B against capital expenditures of $260M, the business generated substantially more cash than it reinvested in physical assets, while also allocating $893M to share repurchases.

Financial Health Signals

Financial Health Score 73/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Edwards Lifesciences Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Edwards Lifesciences Corp has an operating margin of 20.8%, meaning the company retains $21 of operating profit per $100 of revenue. This results in a moderate score of 41/100, indicating healthy but not exceptional operating efficiency. This is down from 25.4% the prior year.

Growth

Edwards Lifesciences Corp's revenue grew 11.5% year-over-year to $6.1B, a solid pace of expansion. This earns a growth score of 65/100.

Leverage

Edwards Lifesciences Corp carries a low D/E ratio of 0.06, meaning only $0.06 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 3.72, Edwards Lifesciences Corp holds $3.72 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 85/100.

Cash Flow

Edwards Lifesciences Corp converts 22.0% of revenue into free cash flow ($1.3B). This strong cash generation earns a score of 78/100.

Returns

Edwards Lifesciences Corp earns a strong 10.4% return on equity (ROE), meaning it generates $10 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 72/100. This is down from 41.8% the prior year.

Altman Z-Score Safe

11.40

Edwards Lifesciences Corp scores 11.40, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($49.1B) relative to total liabilities ($3.4B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

6/9

Edwards Lifesciences Corp passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.49x

For every $1 of reported earnings, Edwards Lifesciences Corp generates $1.49 in operating cash flow ($1.6B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

61.97x

Edwards Lifesciences Corp earns $61.97 in operating income for every $1 of interest expense ($1.3B vs $20.4M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.7B

YoY+13.6%

QoQ+5.6%

5Y CAGR+4.8%

10Y CAGR+8.7%

Edwards Lifesciences Corp generated $1.7B in revenue in Q2 2026. This represents an increase of 13.6% from the same quarter a year earlier. Against the prior quarter it is up 5.6%.

EBITDA

$555.9M

YoY+23.7%

QoQ+7.2%

Edwards Lifesciences Corp's EBITDA was $555.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 23.7% from the same quarter a year earlier. Against the prior quarter it is up 7.2%.

Net Income

$241.9M

YoY-27.4%

QoQ-36.5%

5Y CAGR-13.1%

10Y CAGR+6.7%

Edwards Lifesciences Corp reported $241.9M in net income in Q2 2026. This represents a decrease of 27.4% from the same quarter a year earlier. Against the prior quarter it is down 36.5%.

EPS (Diluted)

$0.42

YoY-25.0%

QoQ-36.4%

5Y CAGR-11.6%

10Y CAGR-3.2%

Edwards Lifesciences Corp earned $0.42 per diluted share (EPS) in Q2 2026. This represents a decrease of 25.0% from the same quarter a year earlier. Against the prior quarter it is down 36.4%.

Cash & Balance Sheet

Free Cash Flow

$585.0M

YoY+142.8%

QoQ+2872.5%

5Y CAGR+5.1%

10Y CAGR+14.3%

Edwards Lifesciences Corp generated $585.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 142.8% from the same quarter a year earlier. Against the prior quarter it is up 2872.5%.

Cash & Debt

$2.9B

YoY-11.2%

QoQ+18.9%

5Y CAGR+17.2%

10Y CAGR+22.9%

Edwards Lifesciences Corp held $2.9B in cash against $598.7M in long-term debt as of Q2 2026.

Shares Outstanding

576M

YoY-1.8%

QoQ+0.1%

5Y CAGR-1.6%

10Y CAGR+10.5%

Edwards Lifesciences Corp had 576M shares outstanding in Q2 2026. This represents a decrease of 1.8% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

77.5%

YoY-0.1pp

QoQ-0.6pp

5Y change+1.8pp

10Y change+4.1pp

Edwards Lifesciences Corp's gross margin was 77.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.6 percentage points.

Operating Margin

29.5%

YoY+2.6pp

QoQ+0.5pp

Edwards Lifesciences Corp's operating margin was 29.5% in Q2 2026, reflecting core business profitability. This is up 2.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.5 percentage points.

Net Margin

13.9%

YoY-7.9pp

QoQ-9.2pp

5Y change-21.7pp

10Y change-2.8pp

Edwards Lifesciences Corp's net profit margin was 13.9% in Q2 2026, showing the share of revenue converted to profit. This is down 7.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 9.2 percentage points.

Return on Equity

2.3%

YoY-0.9pp

QoQ-1.4pp

5Y change-7.3pp

10Y change-2.8pp

Edwards Lifesciences Corp's ROE was 2.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.4 percentage points.

Capital Allocation

R&D Spending

$278.9M

YoY+1.0%

QoQ+5.9%

Edwards Lifesciences Corp invested $278.9M in research and development in Q2 2026. This represents an increase of 1.0% from the same quarter a year earlier. Against the prior quarter it is up 5.9%.

Share Buybacks

$153.3M

YoY+2687.3%

QoQ-63.7%

5Y CAGR+6.5%

10Y CAGR+15.4%

Edwards Lifesciences Corp spent $153.3M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 2687.3% from the same quarter a year earlier. Against the prior quarter it is down 63.7%.

Capital Expenditures

$66.9M

YoY+35.7%

QoQ+3.1%

5Y CAGR-0.7%

10Y CAGR+6.1%

Edwards Lifesciences Corp invested $66.9M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 35.7% from the same quarter a year earlier. Against the prior quarter it is up 3.1%.

EW Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EW quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$6.5B	$6.1B+11.5%	$5.4B+8.6%	$5.0B+12.2%	$4.5B-14.7%	$5.2B+19.3%	$4.4B+0.9%	$4.3B+16.8%	$3.7B+8.4%	$3.4B+15.9%	$3.0B+18.8%	$2.5B+7.4%	$2.3B+13.6%	$2.0B+7.7%	$1.9B+13.2%	$1.7B
Cost of Revenue	$1.4B	$1.3B+19.4%	$1.1B+14.2%	$978.4M+35.2%	$723.7M-42.1%	$1.2B+15.6%	$1.1B-3.0%	$1.1B+18.6%	$939.4M+7.3%	$875.3M+9.8%	$797.4M+29.2%	$617.2M-1.3%	$625.6M+21.1%	$516.6M+5.2%	$491.0M+0.2%	$489.8M
Gross Profit	$5.1B	$4.7B+9.5%	$4.3B+7.2%	$4.0B+7.8%	$3.7B-6.1%	$4.0B+20.5%	$3.3B+2.2%	$3.2B+16.2%	$2.8B+8.7%	$2.6B+18.2%	$2.2B+15.4%	$1.9B+10.6%	$1.7B+11.0%	$1.5B+8.5%	$1.4B+18.5%	$1.2B
R&D Expenses	$1.1B	$1.1B+2.5%	$1.1B+9.4%	$962.9M+14.1%	$843.6M-6.6%	$903.1M+18.7%	$760.7M+1.1%	$752.7M+21.0%	$622.2M+12.6%	$552.6M+25.0%	$442.2M+15.5%	$382.9M+10.5%	$346.5M+7.3%	$323.0M+10.9%	$291.3M+18.3%	$246.3M
SG&A Expenses	$2.2B	$2.1B+16.5%	$1.8B+13.1%	$1.6B+16.6%	$1.4B-9.1%	$1.5B+21.6%	$1.2B-1.1%	$1.2B+14.1%	$1.1B+9.9%	$990.8M+9.5%	$904.7M+6.3%	$850.7M-0.9%	$858.0M+17.0%	$733.4M+5.2%	$697.4M+8.6%	$642.4M
Operating Income	$1.4B	$1.3B-8.3%	$1.4B+5.3%	$1.3B-12.6%	$1.5B-11.4%	$1.7B+88.3%	$897.6M-21.7%	$1.1B+53.3%	$748.2M-31.3%	$1.1B+45.0%	$751.2M	N/A	N/A	N/A	N/A	N/A
EBITDA	N/A	$1.4B-7.4%	$1.5B+5.5%	$1.5B-11.2%	$1.6B-10.3%	$1.8B+81.6%	$1.0B-18.7%	$1.2B+49.7%	$825.6M-29.5%	$1.2B+42.4%	$822.4M	N/A	N/A	N/A	N/A	N/A
Interest Expense	$10.0M	$20.4M+3.0%	$19.8M+12.5%	$17.6M-8.3%	$19.2M+4.3%	$18.4M+16.5%	$15.8M-23.7%	$20.7M-30.8%	$29.9M+28.9%	$23.2M+20.8%	$19.2M+11.6%	$17.2M0.0%	$17.2M+75.5%	$9.8M+122.7%	$4.4M+41.9%	$3.1M
Income Tax	$439.0M	$216.9M+42.6%	$152.1M-0.2%	$152.4M-22.0%	$195.5M-1.7%	$198.9M+113.2%	$93.3M-22.0%	$119.6M+205.1%	$39.2M-91.3%	$451.3M+168.0%	$168.4M+32.1%	$127.5M-61.7%	$332.9M+172.6%	$122.1M+26.3%	$96.7M+106.2%	$46.9M
Net Income	$1.0B	$1.1B-74.3%	$4.2B+197.7%	$1.4B-7.9%	$1.5B+1.3%	$1.5B+82.5%	$823.4M-21.3%	$1.0B+45.0%	$722.2M+23.7%	$583.6M+2.5%	$569.5M+15.1%	$494.9M-39.0%	$811.1M+108.5%	$389.1M+33.5%	$291.5M+23.2%	$236.7M
EPS (Basic)	N/A	$1.84-73.6%	$6.98+202.2%	$2.31-6.1%	$2.46+2.1%	$2.41+82.6%	$1.32-21.4%	$1.68+46.1%	$1.15-58.5%	$2.77+3.7%	$2.67+16.1%	$2.30-39.6%	$3.81+119.0%	$1.74-31.5%	$2.54+22.7%	$2.07
EPS (Diluted)	$1.74	$1.83-73.7%	$6.97+203.0%	$2.30-5.7%	$2.44+2.5%	$2.38+83.1%	$1.30	$1.64+45.1%	$1.13	$2.70+3.4%	$2.61+16.0%	$2.25	$3.74+118.7%	$1.71	$2.46+24.2%	$1.98
Diluted Shares (Avg)	N/A	586M-2.3%	599M-1.7%	609M-2.4%	624M-1.1%	631M-0.1%	632M	637M-0.7%	641M	216M-0.9%	218M-1.1%	220M	217M-4.7%	228M	118M-0.9%	119M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$1.7B+13.6%	$1.6B+16.7%	$1.6B+13.3%	$1.6B+14.7%	$1.5B+11.9%	$1.4B+6.2%	$1.4B+9.4%	$1.4B+8.9%
Cost of Revenue	$392.4M+13.9%	$362.6M+20.2%	$343.0M	$345.2M+31.3%	$344.4M+25.0%	$301.6M+5.1%	N/A	$262.9M+4.9%
Gross Profit	$1.3B+13.5%	$1.3B+15.7%	$1.2B+12.2%	$1.2B+10.7%	$1.2B+8.6%	$1.1B+6.5%	$1.1B+7.7%	$1.1B+9.9%
R&D Expenses	$278.9M+1.0%	$263.3M+3.4%	$267.7M	$280.7M+10.8%	$276.2M+1.6%	$254.6M-0.8%	N/A	$253.4M+4.4%
SG&A Expenses	$561.2M+11.8%	$522.2M+12.1%	$602.9M	$514.6M+22.1%	$502.0M+12.2%	$465.7M+8.7%	N/A	$421.4M+10.3%
Operating Income	$513.2M+24.8%	$477.6M+21.0%	$151.1M	$307.1M-12.4%	$411.2M+12.2%	$394.8M+13.1%	N/A	$350.6M-4.2%
EBITDA	$555.9M+23.7%	$518.5M+20.2%	$193.8M	$346.3M-10.1%	$449.3M+10.6%	$431.4M+11.3%	N/A	$385.1M-4.4%
Interest Expense	$30.0M-19.8%	$33.5M-8.2%	-$92.1M	$38.6M+58.8%	$37.4M+141.3%	$36.5M+121.2%	N/A	$24.3M+60.9%
Income Tax	$278.4M+333.0%	$78.3M+11.4%	$26.2M	$56.1M+37.8%	$64.3M+221.5%	$70.3M+51.8%	N/A	$40.7M-22.8%
Net Income	$241.9M-27.4%	$380.7M+6.3%	$91.2M-76.3%	$291.1M-90.5%	$333.2M-9.0%	$358.0M+1.7%	$385.6M+4.2%	$3.1B+697.8%
EPS (Basic)	$0.42-26.3%	$0.66+8.2%	$0.16-75.4%	$0.50-90.3%	$0.57-6.6%	$0.61+5.2%	$0.65+6.6%	$5.14+715.9%
EPS (Diluted)	$0.42-25.0%	$0.66+8.2%	$0.16-75.4%	$0.50-90.3%	$0.56-8.2%	$0.61+5.2%	$0.65+6.6%	$5.13+714.3%
Diluted Shares (Avg)	578M-1.8%	581M-1.2%	N/A	586M-2.1%	588M-2.7%	588M-2.7%	N/A	598M-1.9%

EW Balance Sheet

EW quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$13.7B+4.9%	$13.1B+39.4%	$9.4B+12.9%	$8.3B-2.5%	$8.5B+17.5%	$7.2B+11.5%	$6.5B+21.9%	$5.3B-6.0%	$5.7B+25.6%	$4.5B+11.2%	$4.1B+15.1%	$3.5B+30.0%	$2.7B+22.0%	$2.2B+12.2%	$2.0B
Current Assets	$6.7B+7.2%	$6.3B+55.7%	$4.0B+30.4%	$3.1B-2.7%	$3.2B+2.9%	$3.1B+3.6%	$3.0B+30.5%	$2.3B-10.3%	$2.5B+13.8%	$2.2B+9.4%	$2.0B-8.2%	$2.2B+29.3%	$1.7B+33.6%	$1.3B+10.6%	$1.2B
Cash & Equivalents	$2.9B-3.5%	$3.0B+168.9%	$1.1B+47.2%	$769.0M-10.9%	$862.8M-27.1%	$1.2B+0.3%	$1.2B+65.1%	$714.1M-12.7%	$818.3M-12.0%	$930.1M+29.5%	$718.4M+9.9%	$653.8M+55.5%	$420.4M+35.2%	$310.9M+81.6%	$171.2M
Short-Term Investments	$1.3B+38.4%	$930.7M+86.0%	$500.5M+12.1%	$446.3M-26.1%	$604.0M+175.3%	$219.4M-35.1%	$337.8M+39.4%	$242.4M-53.3%	$519.2M+52.3%	$341.0M-32.6%	$506.3M-35.5%	$785.0M+52.0%	$516.5M+145.4%	$210.5M-24.6%	$279.3M
Inventory	$1.1B+3.6%	$1.1B+20.3%	$903.5M+3.2%	$875.5M+20.5%	$726.7M-9.4%	$802.3M+25.2%	$640.9M+5.6%	$607.0M+9.4%	$554.9M+39.9%	$396.6M+16.7%	$339.9M+14.5%	$296.8M-3.9%	$308.9M+9.9%	$281.0M+7.5%	$261.3M
Accounts Receivable	$659.6M+8.3%	$609.1M-21.0%	$771.5M+20.0%	$643.0M+10.4%	$582.2M+13.1%	$514.6M-5.3%	$543.6M+19.0%	$456.9M+4.1%	$438.7M+20.0%	$365.5M+15.9%	$315.4M+9.5%	$288.0M-4.8%	$302.5M-5.8%	$321.1M+13.1%	$283.8M
Long-Term Investments	$278.6M-9.5%	$307.9M-47.3%	$583.9M-52.9%	$1.2B-32.5%	$1.8B+128.8%	$801.6M+36.9%	$585.5M+15.6%	$506.3M-10.7%	$567.0M+6.6%	$532.1M+40.1%	$379.9M+57.7%	$240.9M+1000.0%	$21.9M+3.8%	$21.1M-3.2%	$21.8M
Goodwill	$1.8B-0.5%	$1.8B+55.2%	$1.1B+7.5%	$1.1B-8.8%	$1.2B-0.5%	$1.2B+0.5%	$1.2B+5.0%	$1.1B-1.3%	$1.1B+79.9%	$626.1M-0.4%	$628.3M+67.1%	$376.0M-2.4%	$385.4M+0.2%	$384.7M+10.0%	$349.8M
Total Liabilities	$3.4B+12.3%	$3.0B+13.2%	$2.6B+6.4%	$2.5B-6.8%	$2.7B+0.1%	$2.7B+13.8%	$2.3B+7.2%	$2.2B-19.4%	$2.7B+43.3%	$1.9B+21.7%	$1.6B+16.6%	$1.3B+14.3%	$1.2B+54.5%	$754.4M+15.5%	$653.1M
Current Liabilities	$1.8B+20.5%	$1.5B+25.9%	$1.2B+16.9%	$1.0B-1.0%	$1.0B+15.5%	$893.9M-0.9%	$902.4M+2.9%	$876.6M-38.3%	$1.4B+166.7%	$532.5M+11.8%	$476.2M+11.8%	$426.1M+23.3%	$345.6M-0.5%	$347.4M+3.6%	$335.2M
Non-Current Liabilities	$1.5B+3.9%	$1.5B+2.7%	$1.4B-1.0%	$1.5B-10.5%	$1.6B-7.6%	$1.8B+23.1%	$1.4B+10.0%	$1.3B+1.3%	$1.3B-5.0%	$1.4B+26.1%	$1.1B+18.9%	$905.5M+10.4%	$819.9M+101.4%	$407.0M+28.0%	$317.9M
Long-Term Debt	$598.3M+0.1%	$597.7M+0.1%	$597.0M+0.1%	$596.3M+0.1%	$595.7M+0.1%	$595.0M+0.1%	$594.4M+0.1%	$593.8M+35.4%	$438.4M-46.7%	$822.3M+37.8%	$596.9M-0.2%	$598.1M+0.8%	$593.1M+213.3%	$189.3M	N/A
Total Equity	$10.3B+3.4%	$10.0B+50.4%	$6.7B+14.5%	$5.8B-0.5%	$5.8B+27.6%	$4.6B+10.3%	$4.1B+32.1%	$3.1B+6.2%	$3.0B+12.9%	$2.6B+4.6%	$2.5B+14.2%	$2.2B+41.9%	$1.5B+5.3%	$1.5B+10.5%	$1.3B
Retained Earnings	$14.2B+8.2%	$13.2B+46.4%	$9.0B+18.5%	$7.6B+25.1%	$6.1B+32.9%	$4.6B+22.0%	$3.7B+38.9%	$2.7B+37.3%	$2.0B-49.8%	$3.9B+17.1%	$3.3B+17.4%	$2.8B+39.9%	$2.0B+22.8%	$1.7B+21.5%	$1.4B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$13.9B+2.8%	$13.3B+2.3%	$13.7B+4.9%	$13.3B+2.3%	$13.5B+33.6%	$13.0B+33.7%	$13.1B+39.4%	$13.0B+38.4%
Current Assets	$6.8B+3.7%	$6.2B+0.3%	$6.7B+7.2%	$6.4B-5.5%	$6.6B+45.6%	$6.2B+49.0%	$6.3B+55.7%	$6.7B+65.4%
Cash & Equivalents	$2.9B-11.2%	$2.4B-22.1%	$2.9B-3.5%	$2.7B-27.0%	$3.3B+99.0%	$3.1B+156.5%	$3.0B+168.9%	$3.7B+160.7%
Short-Term Investments	$1.3B+70.5%	$1.2B+61.8%	$1.3B+38.4%	$1.2B+50.2%	$789.4M+128.6%	$757.9M+60.2%	$930.7M+86.0%	$769.7M+69.6%
Inventory	$1.1B-0.9%	$1.1B+0.5%	$1.1B+3.6%	$1.1B+3.3%	$1.1B+11.4%	$1.1B-7.7%	$1.1B+20.3%	$1.1B+7.0%
Accounts Receivable	$770.4M+10.5%	$775.7M+15.9%	$659.6M+8.3%	$693.3M-3.2%	$697.0M-10.4%	$669.2M-18.2%	$609.1M-21.0%	$716.0M-3.2%
Long-Term Investments	$244.1M-18.2%	$285.6M+2.8%	$278.6M-9.5%	$274.7M-14.0%	$298.5M-15.5%	$277.9M-39.0%	$307.9M-47.3%	$319.6M-54.6%
Goodwill	$2.0B+9.8%	$1.8B+2.3%	$1.8B-0.5%	$1.8B+10.2%	$1.8B+54.4%	$1.8B+42.0%	$1.8B+55.2%	$1.6B+23.7%
Total Liabilities	$3.1B+9.0%	$3.0B+5.8%	$3.4B+12.3%	$3.1B-8.7%	$2.9B+11.1%	$2.8B+11.0%	$3.0B+13.2%	$3.4B+27.1%
Current Liabilities	$1.5B+7.3%	$1.4B+1.0%	$1.8B+20.5%	$1.6B-18.3%	$1.4B+15.4%	$1.4B+25.6%	$1.5B+25.9%	$1.9B+56.9%
Non-Current Liabilities	$1.6B+10.6%	$1.6B+10.4%	$1.5B+3.9%	$1.5B+4.5%	$1.5B+7.2%	$1.4B-0.2%	$1.5B+2.7%	$1.4B+0.8%
Long-Term Debt	$598.7M+0.1%	$598.5M+0.1%	$598.3M+0.1%	$598.2M+0.1%	$598.0M+0.1%	$597.8M+0.1%	$597.7M+0.1%	$597.5M+0.1%
Total Equity	$10.6B+0.7%	$10.3B+2.0%	$10.3B+3.4%	$10.2B+6.9%	$10.5B+41.8%	$10.1B+42.3%	$10.0B+50.4%	$9.5B+43.4%
Retained Earnings	$14.9B+7.3%	$14.6B+8.1%	$14.2B+8.2%	$14.1B+10.7%	$13.9B+42.7%	$13.5B+44.7%	$13.2B+46.4%	$12.8B+48.2%

EW Cash Flow Statement

EW quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$1.7B	$1.6B+194.2%	$542.3M-39.5%	$895.8M-26.5%	$1.2B-29.7%	$1.7B+64.3%	$1.1B-10.9%	$1.2B+27.6%	$926.7M-7.4%	$1.0B+42.1%	$704.4M+28.1%	$549.7M-46.2%	$1.0B+116.3%	$472.7M+30.5%	$362.1M+17.5%	$308.2M
Depreciation & Amortization	N/A	$156.6M+0.9%	$155.2M+7.1%	$144.9M+3.8%	$139.6M+3.6%	$134.8M+25.7%	$107.2M+20.0%	$89.3M+15.4%	$77.4M-5.5%	$81.9M+15.0%	$71.2M+8.2%	$65.8M-4.1%	$68.6M+9.1%	$62.9M+17.1%	$53.7M-7.4%	$58.0M
Stock-Based Compensation	N/A	$158.1M-2.6%	$162.3M+16.4%	$139.4M+9.9%	$126.8M+16.0%	$109.3M+18.0%	$92.6M+13.9%	$81.3M+14.5%	$71.0M+15.3%	$61.6M+8.3%	$56.9M+14.0%	$49.9M+3.3%	$48.3M+1.9%	$47.4M+12.6%	$42.1M+20.3%	$35.0M
Capital Expenditures	$286.7M	$260.2M+3.1%	$252.4M-0.2%	$253.0M+3.4%	$244.6M-24.9%	$325.8M-20.0%	$407.0M+60.0%	$254.4M+6.6%	$238.7M+42.0%	$168.1M-4.5%	$176.1M+71.5%	$102.7M+23.9%	$82.9M-23.9%	$109.0M0.0%	$109.0M+42.3%	$76.6M
Free Cash Flow	$1.4B	$1.3B+360.5%	$289.9M-54.9%	$642.8M-34.0%	$973.6M-30.8%	$1.4B+117.3%	$647.3M-30.3%	$928.5M+35.0%	$688.0M-17.4%	$832.6M+57.6%	$528.3M+18.2%	$447.0M-52.4%	$939.4M+158.3%	$363.7M+43.7%	$253.1M+9.3%	$231.6M
Investing Cash Flow	-$912.1M	-$712.9M-130.8%	$2.3B+1230.8%	$173.8M-31.1%	$252.3M+114.6%	-$1.7B-224.3%	-$531.1M+10.9%	-$595.8M-876.8%	$76.7M+111.9%	-$647.2M-205.7%	-$211.7M+33.0%	-$316.1M	N/A	N/A	N/A	N/A
Financing Cash Flow	-$1.2B	-$956.8M+2.7%	-$983.0M-38.3%	-$711.0M+55.1%	-$1.6B-344.7%	-$356.3M+26.8%	-$486.9M-321.2%	-$115.6M+89.5%	-$1.1B-132.7%	-$473.2M-76.2%	-$268.5M-69.3%	-$158.6M	N/A	N/A	N/A	N/A
Share Buybacks	$1.2B	$893.4M-22.9%	$1.2B+31.8%	$879.6M-49.1%	$1.7B+236.8%	$512.8M-18.0%	$625.4M+137.5%	$263.3M-66.9%	$795.5M+4.2%	$763.3M+15.2%	$662.3M+136.5%	$280.1M-6.9%	$300.9M-39.4%	$496.9M+44.4%	$344.1M+13.4%	$303.4M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$651.9M+124.6%	$43.8M-84.4%	$450.9M+453.6%	$573.7M+63.1%	$290.2M-21.9%	$280.4M+624.1%	-$127.5M-193.3%	$351.8M-14.5%
Depreciation & Amortization	$42.7M+12.1%	$40.9M+11.7%	$42.7M+0.2%	$39.2M+13.6%	$38.1M-3.8%	$36.6M-4.9%	$42.6M+16.1%	$34.5M-6.5%
Stock-Based Compensation	$42.2M+12.5%	$45.4M+12.9%	N/A	$41.1M+16.8%	$37.5M+0.5%	$40.2M-9.9%	N/A	$35.2M+21.0%
Capital Expenditures	$66.9M+35.7%	$64.9M+15.9%	$97.4M+95.6%	$57.5M+10.8%	$49.3M-42.3%	$56.0M-14.2%	$49.8M-43.6%	$51.9M-6.1%
Free Cash Flow	$585.0M+142.8%	-$21.1M-109.4%	$353.5M+299.4%	$516.2M+72.1%	$240.9M-15.8%	$224.4M+288.9%	-$177.3M-467.1%	$299.9M-15.8%
Investing Cash Flow	-$193.2M-12.3%	-$92.8M-208.8%	-$198.3M+65.6%	-$427.8M-115.8%	-$172.1M-237.9%	$85.3M+35.2%	-$576.7M-4190.1%	$2.7B+2935.6%
Financing Cash Flow	-$300K-100.6%	-$451.2M-74.9%	-$11.4M-139.9%	-$740.1M+24.2%	$52.7M+154.6%	-$258.0M-518.2%	$28.6M+106.9%	-$976.7M-581.6%
Share Buybacks	$153.3M+2687.3%	$421.8M+63.1%	$40.6M-59.4%	$588.7M-34.7%	$5.5M-96.5%	$258.6M+129200.0%	$100.1M-77.7%	$901.0M+416.6%

Not reported in any period shown, so not listed: Dividends Paid.

EW Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EW quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	78.0%-1.4pp	79.5%-1.0pp	80.5%-3.3pp	83.8%+7.7pp	76.1%+0.8pp	75.4%+1.0pp	74.4%-0.4pp	74.8%+0.3pp	74.5%+1.4pp	73.1%-2.2pp	75.3%+2.2pp	73.1%-1.7pp	74.7%+0.6pp	74.2%+3.3pp	70.8%
Operating Margin	20.8%-4.5pp	25.4%-0.8pp	26.1%-7.4pp	33.6%+1.3pp	32.3%+11.8pp	20.5%-5.9pp	26.4%+6.3pp	20.1%-11.6pp	31.7%+6.4pp	25.4%	N/A	N/A	N/A	N/A	N/A
Net Margin	17.7%-59.1pp	76.8%+48.8pp	28.0%-6.1pp	34.1%+5.4pp	28.7%+10.0pp	18.8%-5.3pp	24.1%+4.7pp	19.4%+2.4pp	17.0%-2.2pp	19.2%-0.6pp	19.9%-15.1pp	34.9%+15.9pp	19.0%+3.7pp	15.3%+1.3pp	14.1%
Return on Equity	10.4%-31.4pp	41.8%+20.7pp	21.1%-5.1pp	26.2%+0.5pp	25.8%+7.8pp	18.0%-7.2pp	25.2%+2.2pp	23.0%+3.3pp	19.7%-2.0pp	21.7%+2.0pp	19.8%-17.2pp	37.0%+11.8pp	25.2%+5.3pp	19.9%+2.0pp	17.8%
Return on Assets	7.8%-24.1pp	32.0%+17.0pp	15.0%-3.4pp	18.4%+0.7pp	17.7%+6.3pp	11.4%-4.8pp	16.1%+2.6pp	13.6%+3.3pp	10.3%-2.3pp	12.6%+0.4pp	12.2%-10.8pp	23.0%+8.7pp	14.4%+1.2pp	13.1%+1.2pp	11.9%
Current Ratio	3.72-0.5x	4.18+0.8x	3.38+0.3x	3.03-0.1x	3.08-0.4x	3.46+0.2x	3.31+0.7x	2.61+0.8x	1.80-2.4x	4.21-0.1x	4.30-0.9x	5.24+0.2x	4.99+1.3x	3.72+0.2x	3.49
Debt-to-Equity	0.060.0x	0.060.0x	0.090.0x	0.100.0x	0.100.0x	0.130.0x	0.140.0x	0.190.0x	0.15-0.2x	0.31+0.1x	0.240.0x	0.27-0.1x	0.38+0.3x	0.13-0.4x	0.49
Asset Turnover	0.440.0x	0.42-0.1x	0.540.0x	0.54-0.1x	0.620.0x	0.61-0.1x	0.670.0x	0.70+0.1x	0.61-0.1x	0.660.0x	0.610.0x	0.66-0.1x	0.75-0.1x	0.860.0x	0.85
FCF Margin	22.0%+16.7pp	5.3%-7.5pp	12.8%-9.0pp	21.8%-5.1pp	26.9%+12.1pp	14.8%-6.6pp	21.3%+2.9pp	18.5%-5.8pp	24.2%+6.4pp	17.8%-0.1pp	17.9%-22.5pp	40.4%+22.7pp	17.8%+4.5pp	13.3%-0.5pp	13.8%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	77.5%-0.1pp	78.0%-0.6pp	78.1%-0.8pp	77.8%-2.8pp	77.5%-2.4pp	78.6%+0.2pp	78.9%-1.3pp	80.6%+0.7pp
Operating Margin	29.5%+2.6pp	29.0%+1.0pp	9.6%	19.8%-6.1pp	26.8%+0.1pp	28.0%+1.7pp	N/A	25.9%-3.5pp
Net Margin	13.9%-7.9pp	23.1%-2.3pp	5.8%-22.0pp	18.7%	21.8%-5.0pp	25.3%-1.1pp	27.8%-1.4pp	226.7%
Return on Equity	2.3%-0.9pp	3.7%+0.2pp	0.9%-3.0pp	2.9%-29.3pp	3.2%-1.8pp	3.5%-1.4pp	3.9%-1.7pp	32.2%+26.4pp
Return on Assets	1.7%-0.7pp	2.9%+0.1pp	0.7%-2.3pp	2.2%-21.5pp	2.5%-1.2pp	2.8%-0.9pp	2.9%-1.0pp	23.7%+19.6pp
Current Ratio	4.52-0.2x	4.420.0x	3.72-0.5x	4.00+0.5x	4.68+1.0x	4.45+0.7x	4.18+0.8x	3.46+0.2x
Debt-to-Equity	0.060.0x	0.060.0x	0.060.0x	0.060.0x	0.060.0x	0.060.0x	0.060.0x	0.060.0x
Asset Turnover	0.130.0x	0.120.0x	0.110.0x	0.120.0x	0.110.0x	0.110.0x	0.110.0x	0.100.0x
FCF Margin	33.6%+17.9pp	-1.3%-17.2pp	22.5%+35.3pp	33.2%+11.1pp	15.7%-5.2pp	15.9%+24.8pp	-12.8%-16.6pp	22.1%-6.5pp

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Edwards Lifesciences Corp EW	FY2025	$6.1B	$1.1B	17.7%	$49.1B	73/100
DexCom, Inc. DXCM	FY2025	$4.7B	$836.3M	17.9%	$32.2B	69/100
STERIS plc STE	FY2026	$5.9B	$782.3M	13.2%	$20.3B	66/100
Zimmer Biomet Holdings, Inc. ZBH	FY2025	$8.2B	$705.1M	8.6%	$16.8B	59/100
Medtronic plc MDT	FY2026	$36.4B	$5K	0.0%	$110.5B	63/100

Where Edwards Lifesciences Corp Ranks

Frequently Asked Questions

What is Edwards Lifesciences Corp's annual revenue?

Edwards Lifesciences Corp (EW) reported $6.1B in total revenue for fiscal year 2025. This represents a 11.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Edwards Lifesciences Corp's revenue growing?

Edwards Lifesciences Corp (EW) revenue grew by 11.5% year-over-year, from $5.4B to $6.1B in fiscal year 2025.

Is Edwards Lifesciences Corp profitable?

Yes, Edwards Lifesciences Corp (EW) reported a net income of $1.1B in fiscal year 2025, with a net profit margin of 17.7%.

What is Edwards Lifesciences Corp's EBITDA?

Edwards Lifesciences Corp (EW) had EBITDA of $1.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Edwards Lifesciences Corp have?

As of fiscal year 2025, Edwards Lifesciences Corp (EW) had $2.9B in cash and equivalents against $598.3M in long-term debt.

What is Edwards Lifesciences Corp's gross margin?

Edwards Lifesciences Corp (EW) had a gross margin of 78.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Edwards Lifesciences Corp's operating margin?

Edwards Lifesciences Corp (EW) had an operating margin of 20.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Edwards Lifesciences Corp's net profit margin?

Edwards Lifesciences Corp (EW) had a net profit margin of 17.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Edwards Lifesciences Corp's return on equity (ROE)?

Edwards Lifesciences Corp (EW) has a return on equity of 10.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Edwards Lifesciences Corp's free cash flow?

Edwards Lifesciences Corp (EW) generated $1.3B in free cash flow during fiscal year 2025. This represents a 360.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Edwards Lifesciences Corp's operating cash flow?

Edwards Lifesciences Corp (EW) generated $1.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Edwards Lifesciences Corp's total assets?

Edwards Lifesciences Corp (EW) had $13.7B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Edwards Lifesciences Corp's capital expenditures?

Edwards Lifesciences Corp (EW) invested $260.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Edwards Lifesciences Corp spend on research and development?

Edwards Lifesciences Corp (EW) invested $1.1B in research and development during fiscal year 2025.

Does Edwards Lifesciences Corp buy back shares?

Yes, Edwards Lifesciences Corp (EW) spent $893.4M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Edwards Lifesciences Corp have outstanding?

Edwards Lifesciences Corp (EW) had 581M shares outstanding as of fiscal year 2025.

What is Edwards Lifesciences Corp's current ratio?

Edwards Lifesciences Corp (EW) had a current ratio of 3.72 as of fiscal year 2025, which is generally considered healthy.

What is Edwards Lifesciences Corp's debt-to-equity ratio?

Edwards Lifesciences Corp (EW) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Edwards Lifesciences Corp's return on assets (ROA)?

Edwards Lifesciences Corp (EW) had a return on assets of 7.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Edwards Lifesciences Corp's P/E ratio?

Edwards Lifesciences Corp (EW) trades at 48.8x earnings, its market capitalization divided by net income of $1.0B net income, trailing 12 months to June 30, 2026. The market capitalization is $49.1B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Edwards Lifesciences Corp's price-to-sales ratio?

Edwards Lifesciences Corp (EW) trades at 7.5x sales, its market capitalization divided by revenue of $6.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $49.1B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Edwards Lifesciences Corp's Altman Z-Score?

Edwards Lifesciences Corp (EW) has an Altman Z-Score of 11.40, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Edwards Lifesciences Corp's Piotroski F-Score?

Edwards Lifesciences Corp (EW) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Edwards Lifesciences Corp's earnings high quality?

Edwards Lifesciences Corp (EW) has an earnings quality ratio of 1.49x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Edwards Lifesciences Corp cover its interest payments?

Edwards Lifesciences Corp (EW) has an interest coverage ratio of 61.97x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Edwards Lifesciences Corp?

Edwards Lifesciences Corp (EW) scores 73 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.