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EW

Edwards Lifesciences Corporation

EW

Edwards Lifesciences Corporation • NYSE
$86.71 ▼ -0.05% (-0.04)
Market Cap $50.91 B
52w High $87.40
52w Low $65.94
Dividend Yield 0%
P/E 38.03
Volume 1.32M
Outstanding Shares 587.15M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.553B ▲ $784.5M ▲ $291.1M ▼ 18.743% ▼ $0.5 ▼ $387.6M ▼
Q2-2025 $1.532B ▲ $758.7M ▲ $329.8M ▼ 21.525% ▼ $0.57 ▼ $400.2M ▼
Q1-2025 $1.413B ▲ $716.3M ▼ $358M ▼ 25.342% ▼ $0.61 ▼ $470.5M ▼
Q4-2024 $1.386B ▲ $781M ▲ $385.6M ▼ 27.825% ▼ $0.65 ▼ $483.7M ▲
Q3-2024 $1.354B $740.9M $3.071B 226.728% $5.14 $428.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.842B ▼ $13.272B ▼ $3.067B ▲ $10.205B ▼
Q2-2025 $4.062B ▲ $13.489B ▲ $2.882B ▲ $10.545B ▲
Q1-2025 $3.898B ▼ $13.022B ▼ $2.831B ▼ $10.129B ▲
Q4-2024 $3.976B ▼ $13.055B ▲ $2.992B ▼ $9.998B ▲
Q3-2024 $4.446B $12.971B $3.36B $9.546B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $290.3M ▼ $573.7M ▲ $-427.8M ▼ $-740.1M ▼ $-595.2M ▼ $516.2M ▲
Q2-2025 $331.5M ▼ $290.2M ▲ $-172.1M ▼ $52.7M ▲ $141.2M ▲ $240.9M ▲
Q1-2025 $356.4M ▼ $280.4M ▲ $85.3M ▲ $-258M ▼ $90M ▲ $224.4M ▲
Q4-2024 $385.6M ▼ $-127.5M ▼ $-576.7M ▼ $28.6M ▲ $-624.6M ▼ $-177.3M ▼
Q3-2024 $3.069B $351.8M $2.702B $-976.7M $2.035B $319.9M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Surgical Heart Valve Therapy
Surgical Heart Valve Therapy
 $210.00M ▲$250.00M ▲$270.00M ▲$260.00M ▼
Transcatheter Heart Valves
Transcatheter Heart Valves
 $1.04Bn ▲$1.05Bn ▲$1.13Bn ▲$1.15Bn ▲
Transcatheter Mitral And Tricuspid Therapies
Transcatheter Mitral And Tricuspid Therapies
 $110.00M ▲$120.00M ▲$130.00M ▲$150.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Edwards Lifesciences shows a clear pattern of steady revenue growth over the past several years, with only a modest pause in the middle of the period. Profitability has been strong throughout, with healthy margins that suggest good pricing power and efficient manufacturing. One notable point is that reported profit in the most recent year jumped sharply to a level far above prior years, while operating profit moved much more gradually. That kind of gap typically points to one‑off gains, tax effects, or accounting items, rather than a pure business step‑change. Overall, the core business looks consistently profitable, but the latest earnings headline likely overstates the underlying, repeatable trend.

Balance Sheet

Balance Sheet The balance sheet appears solid and conservative. Total assets and shareholders’ equity have grown steadily, indicating that the company has been building its asset base and reinvesting in the business over time. Cash levels have risen meaningfully in the most recent year, adding to financial flexibility. Debt has stayed low and fairly unchanged, so the company is not relying heavily on borrowing to fund growth. Altogether, this points to a strong financial foundation with ample capacity to invest in innovation and weather industry cycles.

Cash Flow

Cash Flow Cash generation tells a more nuanced story than earnings. Historically, the business has produced solid operating cash flow and free cash flow, comfortably covering its investment spending. In the most recent year, however, cash from operations and free cash flow both declined despite the surge in reported profit. That mismatch suggests that some of the earnings strength is not yet showing up in cash, possibly due to working capital swings or non‑cash gains. While the long‑term cash flow profile looks healthy, the latest year introduces a question mark around the quality and sustainability of the reported earnings spike.

Competitive Edge

Competitive Edge Edwards holds a strong position in the structural heart device market, particularly in transcatheter heart valves. It benefits from being a pioneer in transcatheter aortic valve replacement, with a widely recognized brand and extensive long‑term clinical data that competitors struggle to match. The company has built barriers through patents, physician training programs, and deep relationships with leading heart centers globally. Even in the face of large rivals, its focus on structural heart disease, combined with strong clinical evidence and specialized expertise, gives it a durable, though not unchallenged, competitive moat.

Innovation and R&D

Innovation and R&D Innovation is at the core of Edwards’ strategy. The company consistently reinvests a meaningful portion of its sales into research and development, supporting a broad pipeline across aortic, mitral, and tricuspid valve therapies. It continues to refine its flagship TAVR platform, expand into earlier‑stage and less severe patient groups, and develop new solutions for valve diseases that currently have limited minimally invasive options. The planned spin‑off of the Critical Care business should further concentrate resources on structural heart innovations. Overall, Edwards appears positioned not just to defend its existing franchises but to open new treatment categories through next‑generation devices and clinical studies.

Summary

Edwards Lifesciences combines a profitable, growing core business with a strong balance sheet and a deep innovation engine. Revenue and operating performance show steady progress, while the balance sheet remains cash‑rich and lightly levered. The recent surge in net income looks unusually high relative to both history and cash flow, so it is reasonable to treat it as potentially boosted by special factors rather than a new normal. Strategically, the company enjoys a strong competitive position in structural heart devices, supported by clinical data, intellectual property, and physician relationships. Its ongoing investment in advanced valve technologies and new indications suggests continued opportunities, but also the typical risks of clinical, regulatory, and competitive outcomes that are inherent in high‑end medical devices.

NEWS

November 9, 2025 · 4:00 PM UTC

Edwards Champions American Heart Association Initiative to Reduce Deaths, Improve Care for Patients With Heart Valve Disease

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October 30, 2025 · 4:15 PM UTC

Edwards Lifesciences Announces CFO Transition Plan

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October 30, 2025 · 4:13 PM UTC

Edwards Lifesciences Reports Third Quarter Results

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October 28, 2025 · 9:37 AM UTC

Halper Sadeh LLC Encourages Edwards Lifesciences Corporation Shareholders to Contact the Firm to Discuss Their Rights

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October 27, 2025 · 8:44 PM UTC

EW Investor News: Rosen Law Firm Investigates Breaches of Fiduciary Duties by the Directors and Officers of Edwards Lifesciences Corporation – EW

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