EW
Edwards Lifesciences CorporationStock · HealthcareS&P 500 Equal Weight 0.2% · S&P 500 0.08% · Russell 1000 0.07% · US Stock Market 0.07% · Russell 3000 0.07% · MSCI World 0.06% · MSCI ACWI 0.05%$84.37-2.77%
as of market close, Sep 11, 2026
☾ AH — —
EW financial statements
The full income statement, balance sheet, and cash-flow statement for Edwards Lifesciences Corporation (EW), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 602.4M2024-09 589.8M2024-12 587.9M2025-03 586.6M2025-06 587.1M2025-09 580.3M2025-12 580.8M2026-03 575.8M2026-06 576.4M-4.3% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 6.07B+11.5% | 5.44B+8.6% | 5.01B+12.2% | 4.46B-14.7% | 5.23B+19.3% | |
| 4.73B+9.5% | 4.32B+7.2% | 4.03B+7.8% | 3.74B-6.1% | 3.98B+20.5% | ||
| Cost of revenue | 1.33B+19.4% | 1.12B+14.2% | 978M+35.2% | 724M-42.1% | 1.25B+15.6% | |
| Research & development | 1.08B+2.5% | 1.05B+9.4% | 963M+14.1% | 844M-6.6% | 903M+18.7% | |
| Selling, general & administrative | 2.09B+16.5% | 1.79B+13.1% | 1.58B+16.6% | 1.36B-9.1% | 1.49B+21.6% | |
| Restructuring | 13.1M-60.2% | 32.9M | — | — | — | |
| Amortization of intangibles | 8.40M+50.0% | 5.60M+154.5% | 2.20M-4.3% | 2.30M-70.1% | 7.70M+42.6% | |
| Operating income | 1.26B-8.3% | 1.38B+5.3% | 1.31B-12.6% | 1.50B-11.4% | 1.69B+88.3% | |
| Interest expense | 20.4M+3.0% | 19.8M+12.5% | 17.6M-8.3% | 19.2M+4.3% | 18.4M+16.5% | |
| Interest & investment income | 169M+40.3% | 120M+79.0% | 67.2M+89.3% | 35.5M+104.0% | 17.4M-25.6% | |
| Net interest income | -20.4M-3.0% | -19.8M-12.5% | -17.6M | — | — | |
| Other non-operating income | 7.20M-89.6% | 68.9M+395.7% | 13.9M+189.6% | 4.80M-62.2% | 12.7M+10.4% | |
| Pre-tax income | 1.27B-17.8% | 1.55B+12.8% | 1.37B-9.7% | 1.52B-10.7% | 1.70B+85.7% | |
| Income tax | 217M+42.6% | 152M-0.2% | 152M-22.0% | 196M-1.7% | 199M+113.2% | |
| 1.07B-74.3% | 4.17B+197.7% | 1.40B-7.9% | 1.52B+1.3% | 1.50B+82.5% | ||
| Income from continuing operations | 1.06B-24.3% | 1.40B+14.5% | 1.22B-7.6% | 1.32B | — | |
| Discontinued operations | 13.4M-99.5% | 2.77B+1446.1% | 179M-9.3% | 198M | — | |
| Net income to non-controlling interest | -4.10M+16.3% | -4.90M-63.3% | -3.00M | 0.00 | 0.00 | |
| Net income to common | — | — | 1.40B-7.9% | 1.52B+1.3% | 1.50B+82.5% | |
| $1.83-73.7% | $6.97+203.0% | $2.30-5.7% | $2.44+2.5% | $2.38+83.1% | ||
| EPS (basic) | $1.84-73.6% | $6.98+202.2% | $2.31-6.1% | $2.46+2.1% | $2.41+82.6% | |
| Weighted-avg shares (basic) | 585M-2.2% | 598M-1.5% | 607M-2.0% | 619M-0.7% | 623M+0.1% | |
| Weighted-avg shares (diluted) | 586M-2.3% | 599M-1.7% | 609M-2.4% | 624M-1.1% | 631M-0.1% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 6.74B+7.2% | 6.29B+55.7% | 4.04B+30.4% | 3.10B-2.7% | 3.18B+2.9% | ||
| Cash & equivalents | 2.94B-3.5% | 3.05B+168.9% | 1.13B+47.2% | 769M-10.9% | 863M-27.1% | |
| Short-term investments | 1.29B+38.4% | 931M+86.0% | 501M+12.1% | 446M-26.1% | 604M+175.3% | |
| Accounts receivable | 660M+8.3% | 609M-21.0% | 772M+20.0% | 643M+10.4% | 582M+13.1% | |
| Inventory | 1.13B+3.6% | 1.09B+20.3% | 904M+3.2% | 876M+20.5% | 727M-9.4% | |
| Prepaid expenses | 135M+11.6% | 121M-6.1% | 129M+17.1% | 110M+29.1% | 85.2M+13.4% | |
| Other current assets | 339M-2.4% | 348M+54.6% | 225M+14.8% | 196M-17.4% | 237M+13.9% | |
| 13.7B+4.9% | 13.1B+39.4% | 9.36B+12.9% | 8.29B-2.5% | 8.50B+17.5% | ||
| Property, plant & equipment | 1.81B+7.5% | 1.69B+6.0% | 1.59B-2.6% | 1.63B+5.6% | 1.55B+10.9% | |
| Operating lease right-of-use | 103M+4.6% | 98.2M+16.4% | 84.4M-8.6% | 92.3M+0.2% | 92.1M-2.2% | |
| Goodwill | 1.77B-0.5% | 1.78B+55.2% | 1.15B+7.5% | 1.06B-8.8% | 1.17B-0.5% | |
| Intangible assets | 1.13B-4.1% | 1.18B+194.6% | 399M+40.0% | 285M-11.9% | 324M-2.4% | |
| Long-term investments | 279M-9.5% | 308M-47.3% | 584M-52.9% | 1.24B-32.5% | 1.83B+128.8% | |
| Deferred tax assets | 1.14B+14.7% | 992M+32.4% | 749M+54.8% | 484M+96.2% | 247M+6.8% | |
| Other non-current assets | 730M+1.2% | 722M+55.8% | 463M+54.9% | 299M+169.9% | 111M-7.4% | |
| 1.81B+20.5% | 1.51B+25.9% | 1.20B+16.9% | 1.02B-1.0% | 1.03B+15.5% | ||
| Accounts payable | 228M+15.2% | 197M+5.8% | 187M-7.6% | 202M-1.3% | 205M+4.1% | |
| Current lease liability | 24.5M+4.7% | 23.4M+2.2% | 22.9M-10.2% | 25.5M+0.0% | 25.5M-6.3% | |
| 3.36B+12.3% | 2.99B+13.2% | 2.64B+6.4% | 2.49B-6.8% | 2.67B+0.1% | ||
| Long-term debt | 598M+0.1% | 598M+0.1% | 597M+0.1% | 596M+0.1% | 596M+0.1% | |
| Non-current lease liability | 82.6M+4.7% | 78.9M+21.0% | 65.2M-6.2% | 69.5M+0.6% | 69.1M-5.0% | |
| Operating lease liability (total) | 107M+4.7% | 102M+16.1% | 88.1M-7.3% | 95.0M+0.4% | 94.6M-5.3% | |
| Other non-current liabilities | 362M-2.9% | 373M+48.5% | 251M+15.5% | 218M-18.6% | 267M+5.9% | |
| 10.3B+3.4% | 10.00B+50.4% | 6.65B+14.5% | 5.81B-0.5% | 5.84B+27.6% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 659M+0.6% | 655M+0.7% | 651M+0.6% | 646M+0.7% | 642M+0.9% | |
| Additional paid-in capital | 2.77B+5.9% | 2.61B+14.9% | 2.27B+15.5% | 1.97B+15.8% | 1.70B+18.2% | |
| Retained earnings | 14.2B+8.2% | 13.2B+46.4% | 8.99B+18.5% | 7.59B+25.1% | 6.07B+32.9% | |
| Treasury stock | 7.09B+14.5% | 6.19B+23.2% | 5.02B+21.2% | 4.14B+71.5% | 2.42B+26.9% | |
| Accumulated other comprehensive income | -238M+2.5% | -245M-0.7% | -243M+4.7% | -255M-61.6% | -158M+2.1% | |
| Non-controlling interest | 0.00-100.0% | 64.5M-7.1% | 69.4M | 0.00 | — | |
| Total equity incl. non-controlling | 10.3B+2.7% | 10.1B+49.8% | 6.72B+15.7% | 5.81B-0.5% | 5.84B+27.6% | |
| Total liabilities & equity | 13.7B+4.9% | 13.1B+39.4% | 9.36B+12.9% | 8.29B-2.5% | 8.50B+17.5% | |
| Common shares issued | 659M+0.6% | 655M+0.7% | 651M+0.6% | 646M+0.7% | 642M+0.9% | |
| Common shares outstanding | 581M-1.3% | 589M-2.1% | 601M-1.2% | 608M-2.5% | 624M-0.0% | |
| Shares outstanding (cover) | 581M-1.2% | 588M-2.2% | 601M-1.2% | 608M-2.4% | 623M-0.2% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.60B+194.2% | 542M-39.5% | 896M-26.5% | 1.22B-29.7% | 1.73B+64.3% | ||
| Depreciation & amortization | 157M+0.9% | 155M+7.1% | 145M+3.8% | 140M+3.6% | 135M+25.7% | |
| Intangible amortization | 8.40M+50.0% | 5.60M+154.5% | 2.20M-4.3% | 2.30M-70.1% | 7.70M+42.6% | |
| Share-based compensation | 158M-2.6% | 162M+16.4% | 139M+9.9% | 127M+16.0% | 109M+18.0% | |
| Deferred income taxes | -65.8M+59.6% | -163M+32.8% | -242M+7.4% | -262M-494.8% | -44.0M+15.7% | |
| Change in inventory | -50.7M-119.8% | 256M-11.4% | 289M+35.4% | 213M+1223.2% | -19.0M-115.8% | |
| -713M-130.8% | 2.31B+1230.8% | 174M-31.1% | 252M+114.6% | -1.72B-224.3% | ||
| Capital expenditure | 260M+3.1% | 252M-0.2% | 253M+3.4% | 245M-24.9% | 326M-20.0% | |
| Free cash flow | 1.33B+360.5% | 290M-54.9% | 643M-34.0% | 974M-30.8% | 1.41B+117.3% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other investing activities | 7.40M-41.3% | 12.6M+481.8% | -3.30M-111.5% | 28.8M-35.1% | 44.4M+266.9% | |
| -957M+2.7% | -983M-38.3% | -711M+55.1% | -1.58B-344.7% | -356M+26.8% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00-100.0% | 5.20M-67.9% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 893M-22.9% | 1.16B+31.8% | 880M-49.1% | 1.73B+236.8% | 513M-18.0% | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other financing activities | -3.80M-22.6% | -3.10M-138.5% | -1.30M+65.8% | -3.80M-1166.7% | -300K+75.0% | |
| FX effect on cash | -44.8M-216.1% | 38.6M+129.8% | 16.8M-12.5% | 19.2M+38.1% | 13.9M+167.8% | |
| Net change in cash | -119M-106.2% | 1.91B+409.0% | 375M+496.0% | -94.8M+71.5% | -333M-2206.3% | |
| Interest paid | 20.2M+3.1% | 19.6M-1.5% | 19.9M+3.1% | 19.3M-4.5% | 20.2M+1.5% | |
| Income taxes paid | 490M-59.0% | 1.20B+154.4% | 470M-6.7% | 504M+176.2% | 183M-7.8% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 49.5B+13.8% | 43.5B-5.9% | 46.2B+0.3% | 46.1B-42.9% | 80.7B+41.7% | |
| P/E | 46.1×+342.4% | 10.4×-67.7% | 32.3×+2.2% | 31.6×-41.1% | 53.7×-22.4% | |
| P/S | 8.2×+2.0% | 8.0×-27.8% | 11.1×+28.8% | 8.6×-44.3% | 15.4×+18.8% | |
| P/B | 4.8×+10.0% | 4.4×-37.3% | 6.9×-6.4% | 7.4×-46.4% | 13.8×+11.1% | |
| P/FCF | 37.1×-75.3% | 150.1×+162.4% | 57.2×+29.4% | 44.2×-23.0% | 57.4×-34.8% | |
| Earnings yield | 2.2%-77.4% | 9.6%+210.0% | 3.1%-2.2% | 3.2%+69.9% | 1.9%+28.8% | |
| FCF yield | 2.7%+304.8% | 0.67%-61.9% | 1.7%-22.7% | 2.3%+29.9% | 1.7%+53.3% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: EW’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all EW filings on SEC EDGAR → Not investment advice.