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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.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $6.1B | $1.4B | $1.1B | $1.3B | - | 11.5% | -74.3% |
| 2024 | $5.4B | $1.7B | $4.2B | $260M | - | 8.6% | 197.7% |
| 2023 | $5.0B | $1.5B | $1.4B | $630M | - | 12.2% | -7.9% |
| 2022 | $4.5B | $1.7B | $1.5B | $953M | - | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 6,067.60 |
| Operating Revenue | 6,067.60 |
| Cost Of Revenue | 1,334.20 |
| Gross Profit | 4,733.40 |
| Operating Expense | 3,097.20 |
| Research And Development | 1,079.20 |
| Selling General And Administration | 2,085.20 |
| Total Expenses | 4,431.40 |
| Operating Income | 1,636.20 |
| Total Operating Income As Reported | 1,264.20 |
| EBITDA | 1,449.90 |
| Normalized EBITDA | 1,964.80 |
| EBIT | 1,293.30 |
| Interest Income | 168.80 |
| Interest Expense | 20.40 |
| Net Interest Income | 148.40 |
| Other Non Operating Income Expenses | 3.20 |
| Other Income Expense | -511.70 |
| Interest Income Non Operating | 168.80 |
| Interest Expense Non Operating | 20.40 |
| Net Non Operating Interest Income Expense | 148.40 |
| Pretax Income | 1,272.90 |
| Tax Provision | 216.90 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | -87.74 |
| Net Income Continuous Operations | 1,056 |
| Net Income From Continuing And Discontinued Operation | 1,073.50 |
| Net Income From Continuing Operation Net Minority Interest | 1,060.10 |
| Net Income | 1,073.50 |
| Net Income Common Stockholders | 1,073.50 |
| Net Income Including Noncontrolling Interests | 1,069.40 |
| Normalized Income | 1,487.26 |
| Diluted NI Availto Com Stockholders | 1,073.50 |
| Basic Average Shares | 584.80 |
| Diluted Average Shares | 585.80 |
| Reconciled Depreciation | 156.60 |
| Reconciled Cost Of Revenue | 1,334.20 |
| Total Unusual Items | -514.90 |
| Total Unusual Items Excluding Goodwill | -514.90 |
| Minority Interests | 4.10 |
| Net Income Discontinuous Operations | 13.40 |
| Special Income Charges | -518.90 |
| Gain On Sale Of Business | - |
| Other Special Charges | 325.40 |
| Write Off | 146.90 |
| Impairment Of Capital Assets | 40 |
| Restructuring And Mergern Acquisition | 6.60 |
| Gain On Sale Of Security | 4 |
| General And Administrative Expense | - |
| Other Gand A | - |
| Salaries And Wages | - |
| Other Operating Expenses | -67.20 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Edwards Lifesciences Corporationthis co. | EW | $50.4B | 46.91↑ premium | 4.87 | 10.4% | 33.19 |
| Cencora, Inc. | COR | $52.6B | 33.84 | 34.88 | 103.1% | 14.92 |
| Cardinal Health, Inc. | CAH | $47.2B | 30.27 | -16.99 | -56.1% | 16.71 |
| IDEXX Laboratories, Inc. | IDXX | $44.5B | 42.05 | 27.75 | 66.0% | 30.06 |
| Humana Inc. | HUM |
| - |
| - |
| - |
| - |
| - |
| - |
| $42.0B |
| 35.35 |
| 2.38 |
| 6.7% |
| - |
| Becton, Dickinson and Company | BDX | $41.2B | 24.56 | 1.62 | 6.6% | 12.06 |
| Alnylam Pharmaceuticals, Inc. | ALNY | $40.5B | 129.21 | 51.37 | 39.8% | 61.62 |
| Agilent Technologies, Inc. | A | $39.1B | 29.99 | 5.80 | 19.3% | 22.15 |
| Waters Corporation | WAT | $37.0B | 57.52 | 14.43 | 25.1% | 36.74 |
| Peer Median | - | 34.60 | 10.11 | 22.2% | 22.15 | |