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Edwards Lifesciences Corp EW

NYSE · stock · Orthopedic, Prosthetic & Surgical Appliances & Supplies · website · IPO 2000-03-27 · LEI

Edwards Lifesciences Corp statistics & valuation

Market cap$52.3B
P / E48.7×
P / S8.6×
P / B5.1×
P / FCF39.2×
Net margin17.7%
Return on equity10.4%
FCF margin22.0%
Net cash$2.3B
Net debt / EBITDA-1.6×
Enterprise value USD$49.9B
EV / EBITDA35.1×
Earnings yield EBIT/EV2.5%
Return on capital10.6%
Graham number -71%$26.96

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($26.96); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
28.70% 34.10% 28.00% 76.70% 17.70% 2016201720182019202020212022202320242025
Gross margin (%)
73.10% 74.50% 74.80% 74.40% 75.40% 76.10% 83.80% 80.50% 79.50% 78.00% 2016201720182019202020212022202320242025
Operating margin (%)
25.30% 31.70% 20.10% 26.40% 20.50% 32.30% 33.60% 26.10% 25.30% 20.80% 2016201720182019202020212022202320242025
Return on equity (%)
25.80% 26.20% 20.90% 41.50% 10.40% 2016201720182019202020212022202320242025
Shares outstanding
653.4M 647.7M 640.9M 636.7M 631.9M 631.2M 624.2M 609.4M 599.3M 585.8M 2016201720182019202020212022202320242025
Net debt ($)
-$107.8M -$379.9M -$120.3M -$584.7M -$588.2M -$267.1M -$172.7M -$535.3M -$2.45B -$2.34B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
17.70% 18.40% 15.00% 32.00% 7.80% 2016201720182019202020212022202320242025
Free cash flow margin (%)
17.80% 24.20% 18.50% 21.40% 14.80% 26.90% 21.80% 12.80% 5.30% 22.00% 2016201720182019202020212022202320242025
Debt / equity (×)
0.31× 0.15× 0.19× 0.14× 0.13× 0.10× 0.10× 0.09× 0.06× 0.06× 2016201720182019202020212022202320242025
EPS ($)
$0.87 $0.90 $1.13 $1.64 $1.30 $2.38 $2.44 $2.30 $6.97 $1.83 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Edwards Lifesciences Corp trades at about 50.8× earnings — above its 10-year norm (10-year range 10.4×–63.5×, median 44.7×).

10.4× 63.5×

Shaded band = 10-year range (10.4×–63.5×); dot = today's 50.8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin78.0%79.5%80.5%83.8%76.1%75.4%74.4%74.8%74.5%73.1%
Operating margin20.8%25.3%26.1%33.6%32.3%20.5%26.4%20.1%31.7%25.3%
Net margin17.7%76.7%28.0%34.1%28.7%—————
FCF margin22.0%5.3%12.8%21.8%26.9%14.8%21.4%18.5%24.2%17.8%
Return on assets7.8%32.0%15.0%18.4%17.7%—————
Return on equity10.4%41.5%20.9%26.2%25.8%—————
Debt / equity0.06×0.06×0.09×0.10×0.10×0.13×0.14×0.19×0.15×0.31×
Current ratio3.724.183.383.033.083.463.312.611.804.21

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.