NYSE · Financial Statements

Edwards Lifesciences Corporation (EW) Financial Statements

$89.07 NYSE: EW Market Cap $51.34B

Edwards Lifesciences Corporation most recently reported annual revenue of $6.1B, net profit of $1.1B. Revenue grew at an average annual rate of 6.7% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Edwards Lifesciences Corporation: Revenue rose from $3.0B in 2016 to $6.1B in 2025, a change of +104.7% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 27.5% to 27.0%, a shift of -0.6 percentage points; the most recent year shows net profit of $1.1B.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$3.0B$3.4B$3.7B$4.3B$4.4B$5.2B$5.4B$5.0B$5.4B$6.1B
Operating Expenses$2.1B$2.4B$2.6B$3.1B$3.1B$3.6B$3.7B$3.6B$4.1B$4.4B
Operating Profit$816.0M$1.0B$1.1B$1.2B$1.3B$1.6B$1.7B$1.4B$1.4B$1.6B
Operating Margin27.5%29.4%29.3%27.6%29.6%30.8%31.6%28.5%25.4%27.0%
Other Income$-78.0M$25.0M$-331.0M$-31.0M$-379.0M$92.0M$65.0M$-55.0M$169.0M$-363.0M
Interest$18.0M$23.0M$33.0M$27.0M$22.0M$25.0M$26.0M$18.0M$20.0M$0
Depreciation$71.0M$82.0M$77.0M$115.0M$135.0M$163.0M$167.0M$145.0M$155.0M$157.0M
Profit Before Tax$738.0M$1.0B$761.0M$1.2B$917.0M$1.7B$1.8B$1.4B$1.5B$1.3B
Tax$22.8M$43.6M$5.2M$10.3M$10.2M$11.7M$13.9M$11.1M$9.8M$17.0M
Net Profit$570.0M$622.0M$722.0M$1.0B$823.0M$1.5B$1.5B$1.4B$4.2B$1.1B
EPS$0.87$0.96$1.13$1.64$1.30$2.38$2.44$2.30$6.97$1.83
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$1.2B$1.3B$1.3B$1.4B$1.4B$1.4B$1.4B$1.5B$1.6B$1.6B$1.6B$1.7B
Operating Expenses$897.0M$910.0M$974.0M$1.0B$1.0B$1.1B$1.0B$1.1B$1.1B$1.2B$1.1B$1.2B
Operating Profit$347.0M$357.0M$356.0M$365.0M$351.0M$313.0M$395.0M$431.0M$425.0M$370.0M$515.0M$520.0M
Operating Margin27.9%28.2%26.7%26.3%25.9%22.6%27.9%28.1%27.4%23.6%31.2%29.8%
Interest$0$0$0$0$0$0$0$0$0$0$0$0
Profit Before Tax$388.0M$367.0M$371.0M$387.0M$403.0M$390.0M$434.0M$400.0M$348.0M$90.0M$459.0M$520.0M
Tax$13.6M$9.3M$12.5M$5.2M$10.1M$11.6M$16.2M$16.1M$16.1M$29.0M$17.1M$53.6M
Net Profit$385.0M$370.0M$352.0M$364.0M$3.1B$386.0M$358.0M$330.0M$291.0M$91.0M$381.0M$242.0M
EPS$0.63$0.61$0.58$0.61$5.13$0.65$0.61$0.56$0.50$0.16$0.66$0.42

Over the 10 years reported for Edwards Lifesciences Corporation, borrowings decreased from $822.0M in 2016 to $705.0M in 2025, cash stood at $2.9B in the latest year, shareholders' equity was $659.0M, current assets covered current liabilities 3.71 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$4.5B$5.7B$5.3B$6.5B$7.2B$8.5B$8.3B$9.4B$13.1B$13.7B
Current Assets$2.2B$2.5B$2.3B$3.0B$3.1B$3.2B$3.1B$4.0B$6.3B$6.7B
Cash$930.0M$818.0M$714.0M$1.2B$1.2B$863.0M$769.0M$1.1B$3.0B$2.9B
Inventory$397.0M$555.0M$607.0M$641.0M$802.0M$727.0M$876.0M$904.0M$1.1B$1.1B
Receivables$415.0M$479.0M$537.0M$599.0M$603.0M$665.0M$699.0M$828.0M$727.0M$912.0M
Fixed Assets$580.0M$680.0M$868.0M$1.1B$1.5B$1.6B$1.7B$1.7B$1.8B$1.9B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$873.0M$1.1B$749.0M$923.0M$1.0B$2.4B$1.7B$1.1B$1.2B$2.1B
Other Assets$626.0M$1.1B$1.1B$1.2B$1.2B$1.2B$1.2B$1.1B$1.8B$1.8B
Total Liabilities$1.9B$2.7B$2.2B$2.3B$2.7B$2.7B$2.5B$2.6B$3.0B$3.4B
Current Liabilities$533.0M$1.4B$877.0M$902.0M$894.0M$1.0B$1.0B$1.2B$1.5B$1.8B
Borrowings$822.0M$1.0B$594.0M$679.0M$695.0M$690.0M$691.0M$685.0M$700.0M$705.0M
Other Liabilities$1.1B$1.7B$1.6B$1.7B$2.0B$2.0B$1.8B$2.0B$2.3B$2.7B
Equity$243.0M$212.0M$215.0M$218.0M$636.0M$642.0M$646.0M$651.0M$655.0M$659.0M
Reserves$2.6B$3.0B$3.1B$4.1B$4.6B$5.8B$5.8B$6.7B$10.0B$10.3B

For Edwards Lifesciences Corporation, operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $1.3B; free cash flow was positive in 10 of 10 years; financing activities used $1.1B in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$704.0M$1.0B$927.0M$1.2B$1.1B$1.7B$1.2B$896.0M$542.0M$1.6B
Investing Cash Flow$-429.0M$-823.0M$-165.0M$-874.0M$-938.0M$-2.1B$-12.0M$-92.0M$2.1B$-973.0M
Financing Cash Flow$-491.0M$-649.0M$-664.0M$-106.0M$-486.0M$-354.0M$-1.6B$-711.0M$-983.0M$-1.1B
Net Cash Flow$212.0M$-112.0M$-104.0M$465.0M$16.0M$-333.0M$-95.0M$375.0M$1.9B$-119.0M
Free Cash Flow$487.0M$825.0M$685.0M$901.0M$647.0M$1.4B$953.0M$630.0M$290.0M$1.3B

Valuation & Return Ratios

MetricValue
PEG Ratio-0.66
EV / EBITDA30.83
FCF Yield2.89%
Quick Ratio3.77
Interest Coverage—
Return 1Y18.08%
Return 3Y28.20%
Return 5Y-24.55%

Edwards Lifesciences Corporation (EW) financials — frequently asked questions

What is Edwards Lifesciences Corporation's annual revenue?

Edwards Lifesciences Corporation (EW) reported annual revenue of $6.1B in its most recent fiscal year.

What is Edwards Lifesciences Corporation's net profit?

Edwards Lifesciences Corporation (EW) reported net profit of $1.1B in its most recent fiscal year.

What is EW EV/EBITDA?

Edwards Lifesciences Corporation's enterprise value to EBITDA (EV/EBITDA) ratio is 30.83.

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