Edwards Lifesciences (EW) Financials

$70.63 +0.76 (+1.09%)

Closing price 03:59 PM Eastern

Extended Trading

$70.38 -0.26 (-0.37%)

As of 06:44 PM Eastern

Annual Income Statements for Edwards Lifesciences

This table shows Edwards Lifesciences' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	495	570	584	722	1,047	823	1,503	1,522	1,402	4,175
Consolidated Net Income / (Loss)	495	570	584	722	1,047	823	1,503	1,522	1,399	4,170
Net Income / (Loss) Continuing Operations	495	570	584	722	1,047	823	1,503	1,324	1,220	1,396
Total Pre-Tax Income	622	738	1,035	761	1,167	917	1,702	1,520	1,372	1,548
Total Operating Income	636	751	1,089	748	1,147	898	1,690	1,498	1,309	1,379
Total Gross Profit	1,877	2,166	2,560	2,783	3,234	3,306	3,984	3,740	4,032	4,322
Total Revenue	2,494	2,964	3,435	3,723	4,348	4,386	5,233	4,464	5,010	5,440
Operating Revenue	2,494	2,964	3,435	3,723	4,348	4,386	5,233	4,464	5,010	5,440
Total Cost of Revenue	617	797	875	939	1,114	1,081	1,249	724	978	1,118
Operating Cost of Revenue	617	797	875	939	1,114	1,081	1,249	724	978	1,118
Total Operating Expenses	1,241	1,415	1,471	2,035	2,087	2,408	2,293	2,242	2,723	2,943
Selling, General & Admin Expense	851	905	991	1,089	1,242	1,228	1,494	1,358	1,583	1,789
Research & Development Expense	383	442	553	622	753	761	903	844	963	1,053
Other Operating Expenses / (Income)	-	0.00	0.70	-	-	-	-	0.00	0.00	-0.30
Restructuring Charge	-	-	-	-	-	-	-	61	0.00	61
Other Special Charges / (Income)	7.20	68	-74	325	92	419	-104	-20	177	40
Total Other Income / (Expense), net	-13	-13	-55	13	20	19	12	21	64	169
Interest Expense	17	19	23	30	21	16	18	19	18	20
Interest & Investment Income	7.90	11	20	32	32	23	17	36	67	120
Other Income / (Expense), net	-4.00	-4.90	-52	11	8.20	12	13	4.80	14	69
Income Tax Expense	128	168	451	39	120	93	199	196	152	152
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-	198	179	2,774
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	0.00	0.00	-3.00	-4.90
Basic Earnings per Share	$2.30	$2.67	$2.77	$1.15	$1.68	$1.32	$2.41	$2.46	$2.31	$6.98
Weighted Average Basic Shares Outstanding	215.50M	213M	210.90M	627.60M	624.80M	622.60M	623.30M	619M	606.70M	597.70M
Diluted Earnings per Share	$2.25	$2.61	$2.70	$1.13	$1.64	$1.30	$2.38	$2.44	$2.30	$6.97
Weighted Average Diluted Shares Outstanding	220.30M	217.80M	215.90M	640.90M	636.70M	631.90M	631.20M	624.20M	609.40M	599.30M
Weighted Average Basic & Diluted Shares Outstanding	215.20M	213.30M	210.70M	209.30M	209.12M	624.52M	623.21M	608.31M	601.30M	587.90M

This table shows Edwards Lifesciences' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	344	398	341	307	385	370	352	366	3,071	386
Consolidated Net Income / (Loss)	344	398	341	306	384	370	351	365	3,069	384
Net Income / (Loss) Continuing Operations	344	201	341	254	335	290	351	366	362	317
Total Pre-Tax Income	407	211	399	275	388	311	409	387	403	349
Total Operating Income	402	198	388	264	366	291	388	369	351	272
Total Gross Profit	1,065	529	1,130	1,039	993	870	1,213	1,101	1,092	917
Total Revenue	1,319	430	1,460	1,296	1,243	1,012	1,598	1,386	1,354	1,101
Operating Revenue	1,319	430	1,460	1,296	1,243	1,012	1,598	1,386	1,354	1,101
Total Cost of Revenue	254	-99	330	257	251	141	386	285	263	184
Operating Cost of Revenue	254	-99	330	257	251	141	386	285	263	184
Total Operating Expenses	663	331	742	775	627	579	825	732	741	646
Selling, General & Admin Expense	377	201	436	410	382	354	490	451	421	427
Research & Development Expense	234	131	261	244	243	215	285	273	253	242
Other Special Charges / (Income)	52	-61	44	121	2.20	9.90	50	8.10	11	-29
Total Other Income / (Expense), net	4.90	14	10	12	22	20	22	18	52	78
Interest Expense	-6.90	28	-8.60	-9.10	-15	50	-17	-16	-24	76
Other Income / (Expense), net	-2.00	5.80	1.60	2.50	6.60	3.20	5.40	2.00	28	34
Income Tax Expense	64	11	58	21	53	21	58	20	41	33
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-	0.00	-1.60	-1.20	-0.20	-0.90	-1.30	-1.40	-1.30
Basic Earnings per Share	$0.55	$0.66	$0.56	$0.51	$0.63	$0.61	$0.58	$0.61	$5.14	$0.65
Weighted Average Basic Shares Outstanding	619.80M	619M	607.50M	606.90M	607M	606.70M	601.60M	602.10M	597.20M	597.70M
Diluted Earnings per Share	$0.55	$0.65	$0.56	$0.50	$0.63	$0.61	$0.58	$0.61	$5.13	$0.65
Weighted Average Diluted Shares Outstanding	624.50M	624.20M	610.90M	610.30M	609.50M	609.40M	604.10M	604.30M	598.10M	599.30M
Weighted Average Basic & Diluted Shares Outstanding	618.26M	608.31M	606.22M	607.92M	606.50M	601.30M	602.60M	602.40M	589.80M	587.90M

This table details how cash moves in and out of Edwards Lifesciences' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	65	212	-120	-104	469	16	-333	-95	375	1,911
Net Cash From Operating Activities	550	704	1,001	927	1,183	1,054	1,732	1,218	896	542
Net Cash From Continuing Operating Activities	550	704	1,001	927	1,183	1,054	1,732	1,218	896	542
Net Income / (Loss) Continuing Operations	495	570	584	722	1,047	823	1,503	1,522	1,399	4,170
Consolidated Net Income / (Loss)	495	570	584	722	1,047	823	1,503	1,522	1,399	4,170
Depreciation Expense	66	71	82	77	89	107	135	140	145	155
Non-Cash Adjustments To Reconcile Net Income	20	35	93	383	36	388	85	223	143	-3,237
Changes in Operating Assets and Liabilities, net	-31	29	242	-256	-15	-264	9.00	-667	-792	-546
Net Cash From Investing Activities	-316	-212	-647	77	-596	-531	-1,723	252	174	2,313
Net Cash From Continuing Investing Activities	-316	-212	-647	77	-596	-531	-1,723	252	174	2,313
Purchase of Property, Plant & Equipment	-103	-176	-168	-239	-254	-407	-326	-245	-253	-252
Acquisitions	-335	-49	-225	-3.00	-159	-10	-17	-130	-43	-1,138
Purchase of Investments	-1,309	-1,075	-1,335	-459	-568	-852	-1,879	-669	-76	-946
Divestitures	3.00	1.90	-	-	-	-	-	0.00	0.00	3,927
Sale and/or Maturity of Investments	1,440	1,085	1,103	801	410	777	549	1,377	716	858
Other Investing Activities, net	-12	1.20	-23	-24	-24	-39	-50	-81	-170	-136
Net Cash From Financing Activities	-159	-269	-473	-1,101	-116	-487	-356	-1,585	-711	-983
Net Cash From Continuing Financing Activities	-159	-269	-473	-1,101	-116	-487	-356	-1,585	-711	-983
Repayment of Debt	-38	-27	-818	-1,126	-32	-18	-7.30	-3.80	-1.30	-3.10
Repurchase of Common Equity	-280	-662	-763	-796	-263	-625	-513	-1,727	-880	-1,159
Issuance of Common Equity	87	103	114	147	161	141	159	146	170	180
Effect of Exchange Rate Changes	-10	-13	-	-6.50	-3.00	-21	14	19	17	39

This table details how cash moves in and out of Edwards Lifesciences' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	49	-479	104	171	366	-266	81	429	2,025	-625
Net Cash From Operating Activities	310	283	314	34	412	137	-54	372	352	-128
Net Cash From Continuing Operating Activities	310	283	314	34	412	137	-54	372	352	-128
Net Income / (Loss) Continuing Operations	344	398	341	306	384	370	351	365	3,069	384
Consolidated Net Income / (Loss)	344	398	341	306	384	370	351	365	3,069	384
Depreciation Expense	35	35	35	36	37	37	39	40	35	43
Non-Cash Adjustments To Reconcile Net Income	88	30	76	-1.30	38	31	47	47	-3,325	-5.30
Changes in Operating Assets and Liabilities, net	-157	-181	-138	-307	-47	-301	-490	-80	573	-549
Net Cash From Investing Activities	-202	95	0.50	70	89	14	63	125	2,702	-577
Net Cash From Continuing Investing Activities	-202	95	0.50	70	89	14	63	125	2,702	-577
Purchase of Property, Plant & Equipment	-60	-69	-62	-48	-55	-88	-65	-85	-52	-50
Acquisitions	-52	-22	-28	-141	-	126	-31	-	-774	-333
Purchase of Investments	-293	-81	-16	-6.60	-9.60	-44	-2.60	-13	-539	-391
Sale and/or Maturity of Investments	224	274	264	134	180	137	167	247	176	268
Other Investing Activities, net	-20	-6.70	-158	132	-27	-118	-4.80	-24	-36	-72
Net Cash From Financing Activities	-70	-838	-207	52	-143	-413	62	-97	-977	29
Net Cash From Continuing Financing Activities	-70	-838	-207	52	-143	-413	62	-97	-977	29
Repayment of Debt	-1.90	0.10	0.80	-1.20	-2.90	2.00	-0.20	7.20	-10	0.10
Repurchase of Common Equity	-100	-866	-249	-7.50	-174	-448	-0.20	-158	-901	-100
Issuance of Common Equity	32	28	42	61	34	33	62	54	35	29
Effect of Exchange Rate Changes	10	-18	-4.20	15	9.20	-3.40	9.70	29	-52	51

This table presents Edwards Lifesciences' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	4,056	4,510	5,666	5,324	6,488	7,237	8,503	8,293	9,363	13,055
Total Current Assets	2,048	2,240	2,549	2,287	2,984	3,091	3,181	3,096	4,036	6,285
Cash & Equivalents	718	930	818	714	1,179	1,183	863	769	1,132	3,045
Short-Term Investments	506	341	519	242	338	219	604	446	501	931
Accounts Receivable	372	415	479	537	599	603	665	699	828	727
Inventories, net	340	397	555	607	641	802	727	876	904	1,087
Prepaid Expenses	45	46	61	54	59	75	85	110	129	121
Other Current Assets	66	112	117	132	168	208	237	196	225	348
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	318	27
Plant, Property, & Equipment, net	483	580	680	868	1,060	1,395	1,547	1,633	1,591	1,686
Total Noncurrent Assets	1,526	1,690	2,438	2,169	2,444	2,751	3,775	3,564	3,737	5,084
Long-Term Investments	380	532	567	506	586	802	1,834	1,239	584	308
Goodwill	628	626	1,127	1,112	1,168	1,173	1,168	1,164	1,145	1,777
Intangible Assets	205	205	468	343	337	331	324	285	399	1,177
Noncurrent Deferred & Refundable Income Taxes	181	204	167	174	172	231	247	484	749	992
Other Noncurrent Operating Assets	132	123	109	34	182	214	203	391	548	820
Other Noncurrent Nonoperating Assets	-	-	-	-	-	-	-	-	311	11
Total Liabilities & Shareholders' Equity	4,056	4,510	5,666	5,324	6,488	7,237	8,503	8,293	9,363	13,055
Total Liabilities	1,553	1,891	2,710	2,183	2,340	2,663	2,667	2,486	2,644	2,992
Total Current Liabilities	476	533	1,420	877	902	894	1,032	1,022	1,195	1,505
Accounts Payable	64	97	117	134	180	197	205	202	187	197
Accrued Expenses	412	435	654	743	697	670	802	795	856	1,282
Other Current Liabilities	-	-	-	-	26	27	26	26	23	23
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	130	2.00
Total Noncurrent Liabilities	1,077	1,359	1,290	1,307	1,437	1,769	1,634	1,463	1,448	1,487
Long-Term Debt	597	822	438	594	594	595	596	596	597	598
Capital Lease Obligations	-	-	-	-	59	73	69	70	65	79
Asset Retirement Reserve & Litigation Obligation	-	-	-	-	0.00	233	191	143	94	53
Noncurrent Deferred & Payable Income Tax Liabilities	195	230	165	125	172	214	259	268	335	385
Other Noncurrent Operating Liabilities	285	306	687	588	612	654	519	387	332	373
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	-	-	-	25	0.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,503	2,619	2,956	3,140	4,148	4,574	5,836	5,807	6,719	10,063
Total Preferred & Common Equity	2,503	2,619	2,956	3,140	4,148	4,574	5,836	5,807	6,650	9,998
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,503	2,619	2,956	3,140	4,148	4,574	5,836	5,807	6,650	9,998
Common Stock	1,186	1,410	1,379	1,600	1,841	2,075	2,342	2,616	2,925	3,268
Retained Earnings	3,337	3,906	1,962	2,695	3,742	4,565	6,068	7,590	8,992	13,167
Treasury Stock	-1,837	-2,499	-252	-1,015	-1,279	-1,904	-2,417	-4,144	-5,025	-6,192
Accumulated Other Comprehensive Income / (Loss)	-183	-198	-133	-139	-156	-161	-158	-255	-243	-245
Noncontrolling Interest	-	-	-	-	-	-	-	0.00	69	65

This table presents Edwards Lifesciences' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	8,638	8,293	8,651	9,004	9,371	9,363	9,736	10,099	12,971	13,055
Total Current Assets	3,514	3,096	3,257	3,647	4,068	4,036	4,171	4,516	6,728	6,285
Cash & Equivalents	1,248	769	873	1,043	1,410	1,132	1,225	1,645	3,676	3,045
Short-Term Investments	491	446	382	467	454	501	473	345	770	931
Accounts Receivable	661	699	779	817	802	828	877	834	812	727
Inventories, net	758	876	914	980	1,032	904	1,207	1,025	1,104	1,087
Prepaid Expenses	88	110	119	123	133	129	138	110	115	121
Other Current Assets	268	196	190	217	236	225	251	252	231	348
Other Current Nonoperating Assets	-	-	-	-	-	318	-	305	20	27
Plant, Property, & Equipment, net	1,566	1,633	1,646	1,662	1,681	1,591	1,768	1,640	1,676	1,686
Total Noncurrent Assets	3,558	3,564	3,748	3,695	3,622	3,737	3,798	3,943	4,568	5,084
Long-Term Investments	1,381	1,239	1,067	856	705	584	456	353	320	308
Goodwill	1,159	1,164	1,308	1,300	1,297	1,145	1,253	1,151	1,605	1,777
Intangible Assets	267	285	447	431	430	399	447	417	956	1,177
Noncurrent Deferred & Refundable Income Taxes	348	484	544	611	652	749	777	833	888	992
Other Noncurrent Operating Assets	404	391	382	497	538	548	866	883	788	820
Other Noncurrent Nonoperating Assets	-	-	-	-	-	311	-	307	11	11
Total Liabilities & Shareholders' Equity	8,638	8,293	8,651	9,004	9,371	9,363	9,736	10,099	12,971	13,055
Total Liabilities	2,420	2,486	2,589	2,558	2,644	2,644	2,550	2,595	3,360	2,992
Total Current Liabilities	918	1,022	1,082	1,157	1,239	1,195	1,111	1,217	1,944	1,505
Accounts Payable	155	202	181	193	191	187	212	186	173	197
Accrued Expenses	740	795	876	940	1,024	856	874	902	1,745	1,282
Other Current Liabilities	24	26	25	24	24	23	25	22	24	23
Other Current Nonoperating Liabilities	-	-	-	-	-	130	-	107	1.80	2.00
Total Noncurrent Liabilities	1,503	1,463	1,507	1,400	1,405	1,448	1,439	1,378	1,416	1,487
Long-Term Debt	596	596	597	597	597	597	597	597	598	598
Capital Lease Obligations	67	70	66	64	70	65	77	74	85	79
Asset Retirement Reserve & Litigation Obligation	154	143	130	113	104	94	82	75	64	53
Noncurrent Deferred & Payable Income Tax Liabilities	296	268	284	304	312	335	337	343	346	385
Other Noncurrent Operating Liabilities	390	387	430	324	322	332	346	258	324	373
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	25	-	30	0.00	0.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	6,218	5,807	6,062	6,447	6,727	6,719	7,186	7,505	9,611	10,063
Total Preferred & Common Equity	6,218	5,807	5,978	6,376	6,658	6,650	7,118	7,437	9,546	9,998
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	6,218	5,807	5,978	6,376	6,658	6,650	7,118	7,437	9,546	9,998
Common Stock	2,560	2,616	2,696	2,795	2,861	2,925	3,032	3,130	3,106	3,268
Retained Earnings	7,192	7,590	7,931	8,238	8,623	8,992	9,344	9,711	12,781	13,167
Treasury Stock	-3,278	-4,144	-4,394	-4,401	-4,576	-5,025	-5,025	-5,183	-6,090	-6,192
Accumulated Other Comprehensive Income / (Loss)	-256	-255	-255	-256	-250	-243	-233	-220	-253	-245
Noncontrolling Interest	-	0.00	84	71	70	69	69	67	66	65

This table displays calculated financial ratios and metrics derived from Edwards Lifesciences' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.35%	18.85%	15.91%	8.37%	16.79%	0.88%	19.29%	-14.69%	12.23%	8.57%
EBITDA Growth	-42.99%	17.20%	36.97%	-25.27%	51.74%	-19.95%	80.83%	-10.61%	-10.66%	9.20%
EBIT Growth	-45.30%	18.14%	39.06%	-26.84%	52.11%	-21.29%	87.33%	-11.73%	-12.00%	9.43%
NOPAT Growth	-38.67%	14.70%	5.96%	15.52%	45.03%	-21.66%	85.15%	-12.54%	-10.88%	6.85%
Net Income Growth	-38.98%	15.07%	2.48%	23.75%	44.96%	-21.35%	82.55%	1.25%	-8.05%	197.96%
EPS Growth	-39.84%	16.00%	3.45%	23.75%	44.96%	-20.73%	83.08%	2.52%	-5.74%	203.04%
Operating Cash Flow Growth	-46.23%	28.14%	42.06%	-7.39%	27.65%	-10.87%	64.29%	-29.67%	-26.47%	-39.46%
Free Cash Flow Firm Growth	-86.58%	264.60%	-74.23%	413.24%	4.04%	-22.24%	184.59%	-63.40%	0.79%	-199.00%
Invested Capital Growth	34.75%	9.54%	30.63%	6.15%	18.83%	12.54%	5.33%	25.58%	16.74%	36.87%
Revenue Q/Q Growth	2.18%	3.37%	3.64%	2.45%	4.73%	0.40%	2.71%	-16.78%	-6.30%	-14.27%
EBITDA Q/Q Growth	-50.87%	4.73%	8.89%	-26.14%	37.18%	2.60%	1.13%	-9.37%	-9.60%	-11.54%
EBIT Q/Q Growth	-53.21%	4.52%	9.41%	-27.97%	37.47%	5.13%	1.20%	-10.28%	-10.62%	-12.93%
NOPAT Q/Q Growth	-52.47%	2.85%	-21.24%	-0.61%	35.99%	3.79%	1.93%	-10.00%	-9.10%	-14.21%
Net Income Q/Q Growth	6.80%	3.23%	-21.65%	1.38%	35.31%	3.69%	1.75%	4.33%	-2.01%	0.35%
EPS Q/Q Growth	4.65%	0.77%	-23.51%	1.38%	35.31%	1.56%	0.42%	3.83%	-1.71%	0.58%
Operating Cash Flow Q/Q Growth	1.97%	16.03%	19.43%	-7.12%	10.25%	-0.29%	-1.49%	-6.94%	-14.03%	-32.75%
Free Cash Flow Firm Q/Q Growth	-82.54%	25.28%	-17.75%	15.24%	16.00%	-8.91%	-4.00%	-35.00%	127.33%	-162.71%
Invested Capital Q/Q Growth	6.07%	0.83%	-5.64%	-8.42%	-0.71%	1.87%	4.56%	6.83%	-2.79%	16.74%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	75.25%	73.09%	74.52%	74.77%	74.37%	75.36%	76.13%	83.79%	80.47%	79.46%
EBITDA Margin	27.97%	27.58%	32.59%	22.48%	29.20%	23.17%	35.12%	36.80%	29.30%	29.47%
Operating Margin	25.49%	25.35%	31.71%	20.10%	26.38%	20.46%	32.30%	33.57%	26.13%	25.35%
EBIT Margin	25.33%	25.18%	30.21%	20.40%	26.56%	20.73%	32.55%	33.67%	26.40%	26.61%
Profit (Net Income) Margin	19.85%	19.22%	16.99%	19.40%	24.08%	18.77%	28.73%	34.09%	27.93%	76.66%
Tax Burden Percent	79.51%	77.18%	56.39%	94.85%	89.75%	89.82%	88.31%	100.16%	101.97%	269.34%
Interest Burden Percent	98.53%	98.87%	99.72%	100.28%	101.00%	100.84%	99.94%	101.08%	103.75%	106.94%
Effective Tax Rate	20.49%	22.82%	43.61%	5.15%	10.25%	10.18%	11.69%	12.87%	11.10%	9.82%
Return on Invested Capital (ROIC)	38.81%	37.00%	32.52%	32.18%	41.41%	28.11%	47.86%	36.18%	26.72%	22.38%
ROIC Less NNEP Spread (ROIC-NNEP)	39.82%	38.04%	35.94%	30.69%	39.89%	26.96%	47.37%	26.40%	14.36%	-80.82%
Return on Net Nonoperating Assets (RNNOA)	-17.72%	-14.77%	-11.59%	-8.48%	-12.69%	-9.23%	-18.99%	-10.03%	-4.38%	27.31%
Return on Equity (ROE)	21.08%	22.24%	20.94%	23.69%	28.73%	18.88%	28.88%	26.14%	22.34%	49.69%
Cash Return on Invested Capital (CROIC)	9.20%	27.90%	5.96%	26.21%	24.20%	16.30%	42.67%	13.50%	11.27%	-8.75%
Operating Return on Assets (OROA)	16.67%	17.42%	20.40%	13.82%	19.56%	13.25%	21.64%	17.90%	14.98%	12.91%
Return on Assets (ROA)	13.06%	13.30%	11.47%	13.14%	17.73%	12.00%	19.10%	18.12%	15.85%	37.20%
Return on Common Equity (ROCE)	21.08%	22.24%	20.94%	23.69%	28.73%	18.88%	28.88%	26.14%	22.22%	49.30%
Return on Equity Simple (ROE_SIMPLE)	19.77%	21.74%	19.74%	23.00%	25.24%	18.00%	25.76%	26.21%	21.04%	41.70%
Net Operating Profit after Tax (NOPAT)	505	580	614	710	1,029	806	1,493	1,306	1,164	1,243
NOPAT Margin	20.27%	19.56%	17.88%	19.06%	23.67%	18.38%	28.53%	29.25%	23.22%	22.86%
Net Nonoperating Expense Percent (NNEP)	-1.01%	-1.03%	-3.42%	1.49%	1.53%	1.15%	0.50%	9.78%	12.36%	103.20%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	20.17%	15.76%	11.58%
Cost of Revenue to Revenue	24.75%	26.91%	25.48%	25.23%	25.63%	24.64%	23.87%	16.21%	19.53%	20.54%
SG&A Expenses to Revenue	34.11%	30.53%	28.84%	29.24%	28.57%	28.01%	28.55%	30.41%	31.59%	32.89%
R&D to Revenue	15.35%	14.92%	16.09%	16.71%	17.31%	17.34%	17.26%	18.90%	19.22%	19.36%
Operating Expenses to Revenue	49.76%	47.75%	42.81%	54.67%	47.99%	54.90%	43.83%	50.22%	54.35%	54.11%
Earnings before Interest and Taxes (EBIT)	632	746	1,038	759	1,155	909	1,703	1,503	1,323	1,448
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	698	818	1,120	837	1,270	1,016	1,838	1,643	1,468	1,603
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.81	7.65	8.07	10.20	11.73	12.43	13.86	7.94	6.95	4.37
Price to Tangible Book Value (P/TBV)	10.21	11.20	17.52	19.00	18.40	18.52	18.62	10.59	9.06	6.20
Price to Revenue (P/Rev)	6.83	6.76	6.94	8.60	11.19	12.96	15.46	10.33	9.23	8.03
Price to Earnings (P/E)	34.42	35.18	40.87	44.34	46.48	69.05	53.81	30.31	32.98	10.46
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.90%	2.84%	2.45%	2.26%	2.15%	1.45%	1.86%	3.30%	3.03%	9.56%
Enterprise Value to Invested Capital (EV/IC)	10.72	11.63	10.77	13.71	17.49	18.21	24.45	11.03	9.54	6.25
Enterprise Value to Revenue (EV/Rev)	6.43	6.43	6.71	8.37	10.86	12.61	14.95	9.93	8.93	7.38
Enterprise Value to EBITDA (EV/EBITDA)	22.98	23.31	20.57	37.23	37.18	54.44	42.58	26.99	30.50	25.03
Enterprise Value to EBIT (EV/EBIT)	25.37	25.53	22.20	41.03	40.87	60.85	45.95	29.50	33.84	27.72
Enterprise Value to NOPAT (EV/NOPAT)	31.71	32.86	37.50	43.89	45.87	68.62	52.42	33.96	38.47	32.27
Enterprise Value to Operating Cash Flow (EV/OCF)	29.16	27.05	23.02	33.62	39.91	52.47	45.17	36.40	49.97	73.98
Enterprise Value to Free Cash Flow (EV/FCFF)	133.71	43.59	204.52	53.89	78.49	118.30	58.79	91.03	91.17	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.24	0.31	0.37	0.19	0.16	0.15	0.11	0.11	0.10	0.07
Long-Term Debt to Equity	0.24	0.31	0.15	0.19	0.16	0.15	0.11	0.11	0.10	0.07
Financial Leverage	-0.45	-0.39	-0.32	-0.28	-0.32	-0.34	-0.40	-0.38	-0.30	-0.34
Leverage Ratio	1.61	1.67	1.83	1.80	1.62	1.57	1.51	1.44	1.41	1.34
Compound Leverage Factor	1.59	1.65	1.82	1.81	1.64	1.59	1.51	1.46	1.46	1.43
Debt to Total Capital	19.25%	23.90%	26.90%	15.90%	13.61%	12.74%	10.23%	10.29%	8.97%	6.30%
Short-Term Debt to Total Capital	0.00%	0.00%	16.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	19.25%	23.90%	10.84%	15.90%	13.61%	12.74%	10.23%	10.29%	8.97%	6.30%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.94%	0.60%
Common Equity to Total Capital	80.75%	76.11%	73.10%	84.10%	86.39%	87.26%	89.77%	89.71%	90.09%	93.10%
Debt to EBITDA	0.86	1.01	0.97	0.71	0.51	0.66	0.36	0.41	0.45	0.42
Net Debt to EBITDA	-1.44	-1.20	-0.73	-1.04	-1.14	-1.51	-1.43	-1.09	-1.06	-2.25
Long-Term Debt to EBITDA	0.86	1.01	0.39	0.71	0.51	0.66	0.36	0.41	0.45	0.42
Debt to NOPAT	1.18	1.42	1.77	0.84	0.63	0.83	0.45	0.51	0.57	0.54
Net Debt to NOPAT	-1.99	-1.69	-1.33	-1.22	-1.41	-1.91	-1.77	-1.37	-1.34	-2.90
Long-Term Debt to NOPAT	1.18	1.42	0.71	0.84	0.63	0.83	0.45	0.51	0.57	0.54
Altman Z-Score	9.33	9.23	7.22	11.00	14.93	15.08	20.78	13.85	13.21	11.39
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.55%	0.80%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.30	4.21	1.80	2.61	3.31	3.46	3.08	3.03	3.38	4.18
Quick Ratio	3.35	3.17	1.28	1.70	2.34	2.24	2.07	1.87	2.06	3.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	120	437	113	578	601	468	1,331	487	491	-486
Operating Cash Flow to CapEx	535.25%	400.00%	595.30%	388.23%	464.98%	259.04%	531.65%	498.04%	354.07%	214.86%
Free Cash Flow to Firm to Interest Expense	6.97	22.76	4.85	19.33	29.05	29.60	72.33	25.37	27.90	-24.55
Operating Cash Flow to Interest Expense	31.96	36.69	43.13	30.99	57.14	66.73	94.14	63.45	50.90	27.39
Operating Cash Flow Less CapEx to Interest Expense	25.99	27.52	35.89	23.01	44.86	40.97	76.43	50.71	36.52	14.64
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.66	0.69	0.68	0.68	0.74	0.64	0.66	0.53	0.57	0.49
Accounts Receivable Turnover	7.16	7.54	7.69	7.32	7.65	7.30	8.26	6.55	6.56	6.99
Inventory Turnover	1.94	2.17	1.84	1.62	1.79	1.50	1.63	0.90	1.10	1.12
Fixed Asset Turnover	5.39	5.58	5.45	4.81	4.51	3.57	3.56	2.81	3.11	3.32
Accounts Payable Turnover	10.11	9.91	8.19	7.50	7.09	5.73	6.23	3.56	5.04	5.82
Days Sales Outstanding (DSO)	50.99	48.43	47.49	49.84	47.70	50.01	44.22	55.76	55.63	52.19
Days Inventory Outstanding (DIO)	188.27	168.56	198.39	225.73	204.36	243.74	223.43	404.04	331.84	325.02
Days Payable Outstanding (DPO)	36.10	36.85	44.56	48.68	51.49	63.65	58.60	102.48	72.47	62.71
Cash Conversion Cycle (CCC)	203.16	180.14	201.32	226.88	200.57	230.09	209.05	357.32	315.00	314.50
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,495	1,638	2,140	2,271	2,699	3,038	3,200	4,018	4,691	6,420
Invested Capital Turnover	1.91	1.89	1.82	1.69	1.75	1.53	1.68	1.24	1.15	0.98
Increase / (Decrease) in Invested Capital	386	143	502	132	428	339	162	819	673	1,729
Enterprise Value (EV)	16,029	19,053	23,035	31,151	47,208	55,322	78,246	44,340	44,761	40,120
Market Capitalization	17,037	20,034	23,852	32,020	48,657	56,859	80,883	46,128	46,246	43,663
Book Value per Share	$23.21	$12.25	$13.97	$15.02	$19.89	$7.34	$9.35	$9.39	$10.96	$16.95
Tangible Book Value per Share	$15.48	$8.36	$6.43	$8.06	$12.68	$4.93	$6.96	$7.05	$8.42	$11.94
Total Capital	3,100	3,441	4,044	3,734	4,802	5,242	6,501	6,473	7,382	10,740
Total Debt	597	822	1,088	594	653	668	665	666	662	677
Total Long-Term Debt	597	822	438	594	653	668	665	666	662	677
Net Debt	-1,008	-981	-816	-869	-1,449	-1,537	-2,636	-1,789	-1,555	-3,607
Capital Expenditures (CapEx)	103	176	168	239	254	407	326	245	253	252
Debt-free, Cash-free Net Working Capital (DFCFNWC)	347	436	441	454	565	795	682	858	1,208	804
Debt-free Net Working Capital (DFNWC)	1,572	1,708	1,779	1,410	2,082	2,197	2,148	2,073	2,840	4,780
Net Working Capital (NWC)	1,572	1,708	1,129	1,410	2,082	2,197	2,148	2,073	2,840	4,780
Net Nonoperating Expense (NNE)	11	10	31	-13	-18	-17	-10	-216	-236	-2,926
Net Nonoperating Obligations (NNO)	-1,008	-981	-816	-869	-1,449	-1,537	-2,636	-1,789	-2,029	-3,643
Total Depreciation and Amortization (D&A)	66	71	82	77	115	107	135	140	145	155
Debt-free, Cash-free Net Working Capital to Revenue	13.92%	14.72%	12.85%	12.19%	12.99%	18.11%	13.03%	19.22%	24.10%	14.79%
Debt-free Net Working Capital to Revenue	63.03%	57.61%	51.78%	37.88%	47.87%	50.09%	41.06%	46.45%	56.69%	87.88%
Net Working Capital to Revenue	63.03%	57.61%	32.87%	37.88%	47.87%	50.09%	41.06%	46.45%	56.69%	87.88%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.77	$0.89	$0.92	$1.15	$1.68	$1.32	$2.41	$2.46	$2.31	$6.98
Adjusted Weighted Average Basic Shares Outstanding	646.50M	639M	632.70M	627.60M	624.90M	622.60M	623.30M	619M	606.70M	597.70M
Adjusted Diluted Earnings per Share	$0.75	$0.87	$0.90	$1.13	$1.64	$1.30	$2.38	$2.44	$2.30	$6.97
Adjusted Weighted Average Diluted Shares Outstanding	660.90M	653.40M	647.70M	640.80M	636.60M	631.90M	631.20M	624.20M	609.40M	599.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	643.79M	637.49M	630.07M	623.30M	627.37M	624.52M	623.21M	608.31M	601.30M	587.90M
Normalized Net Operating Profit after Tax (NOPAT)	511	632	573	1,017	1,112	1,183	1,401	1,341	1,321	1,335
Normalized NOPAT Margin	20.50%	21.34%	16.68%	27.33%	25.57%	26.96%	26.78%	30.04%	26.37%	24.54%
Pre Tax Income Margin	24.96%	24.90%	30.13%	20.45%	26.83%	20.90%	32.53%	34.04%	27.39%	28.46%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	36.73	38.87	44.73	25.39	55.80	57.54	92.55	78.29	75.16	73.11
NOPAT to Interest Expense	29.39	30.20	26.48	23.74	49.72	51.03	81.13	68.00	66.11	62.79
EBIT Less CapEx to Interest Expense	30.76	29.70	37.49	17.41	43.51	31.78	74.85	65.55	60.78	60.36
NOPAT Less CapEx to Interest Expense	23.42	21.02	19.23	15.75	37.43	25.27	63.42	55.26	51.74	50.04
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	56.60%	116.30%	130.79%	110.15%	25.15%	75.95%	34.12%	113.48%	62.86%	27.81%

This table displays calculated financial ratios and metrics derived from Edwards Lifesciences' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.67%	-67.67%	8.83%	-5.71%	-5.73%	135.29%	9.50%	6.98%	8.93%	8.85%
EBITDA Growth	2.47%	-41.56%	-9.57%	-39.33%	-6.06%	38.55%	1.46%	35.95%	0.88%	5.05%
EBIT Growth	2.22%	-45.85%	-10.45%	-42.65%	-6.97%	44.62%	0.74%	39.51%	1.61%	3.67%
NOPAT Growth	-0.06%	-43.79%	-11.74%	-39.41%	-6.84%	44.92%	0.13%	43.67%	-0.31%	-9.47%
Net Income Growth	1.00%	18.82%	-8.86%	-24.83%	11.70%	-7.20%	3.08%	19.48%	699.95%	3.95%
EPS Growth	1.85%	20.37%	-5.08%	-23.08%	14.55%	-6.15%	3.57%	22.00%	714.29%	6.56%
Operating Cash Flow Growth	-41.74%	-24.30%	7.09%	-89.89%	32.78%	-51.70%	-117.03%	1,005.65%	-14.51%	-193.34%
Free Cash Flow Firm Growth	-238.47%	-467.48%	-737.10%	-2,079.61%	-106.63%	36.47%	-42.37%	70.29%	52.01%	-270.02%
Invested Capital Growth	22.92%	25.58%	29.92%	31.83%	28.29%	16.74%	29.61%	13.03%	13.97%	36.87%
Revenue Q/Q Growth	-4.00%	-67.41%	8.25%	-11.24%	-4.02%	-18.65%	-9.65%	-13.28%	-2.27%	-18.71%
EBITDA Q/Q Growth	-12.47%	-45.18%	-12.65%	-28.95%	35.52%	-19.15%	-14.57%	-4.80%	0.56%	-15.81%
EBIT Q/Q Growth	-13.67%	-49.18%	-13.60%	-31.79%	40.04%	-20.99%	-16.10%	-5.55%	1.99%	-19.39%
NOPAT Q/Q Growth	-15.55%	-44.75%	-14.58%	-26.62%	29.85%	-14.05%	-17.46%	5.29%	-9.90%	-21.95%
Net Income Q/Q Growth	-15.48%	15.98%	-14.53%	-10.28%	25.60%	-3.65%	-5.06%	3.99%	740.93%	-87.48%
EPS Q/Q Growth	-15.38%	18.18%	-13.85%	-10.71%	26.00%	-3.17%	-4.92%	5.17%	740.98%	-87.33%
Operating Cash Flow Q/Q Growth	-6.71%	-8.74%	11.07%	-89.30%	1,124.70%	-66.80%	-139.17%	794.39%	-5.30%	-136.24%
Free Cash Flow Firm Q/Q Growth	-775.34%	-74.34%	-58.67%	-32.06%	17.02%	46.40%	-232.52%	72.44%	-34.03%	-313.26%
Invested Capital Q/Q Growth	4.59%	6.83%	9.60%	7.66%	1.78%	-2.79%	21.11%	-6.11%	2.63%	16.74%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	80.76%	122.98%	77.43%	80.17%	79.85%	86.02%	75.87%	79.41%	80.59%	83.32%
EBITDA Margin	33.04%	55.57%	29.13%	23.32%	32.93%	32.72%	26.99%	29.63%	30.49%	31.58%
Operating Margin	30.51%	45.99%	26.61%	20.34%	29.43%	28.78%	24.25%	26.63%	25.89%	24.66%
EBIT Margin	30.36%	47.34%	26.72%	20.53%	29.96%	29.10%	24.58%	26.78%	27.95%	27.71%
Profit (Net Income) Margin	26.04%	92.67%	23.33%	23.58%	30.86%	36.55%	21.96%	26.34%	226.62%	34.90%
Tax Burden Percent	84.34%	188.46%	85.42%	111.05%	98.99%	118.84%	85.74%	94.41%	762.02%	110.02%
Interest Burden Percent	101.72%	103.88%	102.21%	103.42%	104.05%	105.71%	104.20%	104.18%	106.42%	114.49%
Effective Tax Rate	15.66%	5.16%	14.58%	7.60%	13.60%	6.65%	14.26%	5.23%	10.10%	9.39%
Return on Invested Capital (ROIC)	40.46%	53.95%	32.09%	24.45%	31.66%	30.91%	25.26%	31.16%	28.60%	21.88%
ROIC Less NNEP Spread (ROIC-NNEP)	40.29%	44.42%	31.67%	21.38%	28.56%	25.77%	24.06%	30.37%	-63.00%	17.00%
Return on Net Nonoperating Assets (RNNOA)	-16.92%	-16.88%	-10.94%	-6.99%	-9.62%	-7.85%	-5.70%	-8.38%	23.19%	-5.75%
Return on Equity (ROE)	23.54%	37.07%	21.15%	17.45%	22.05%	23.05%	19.56%	22.77%	51.79%	16.13%
Cash Return on Invested Capital (CROIC)	21.97%	13.50%	11.48%	3.81%	5.03%	11.27%	0.79%	16.48%	15.01%	-8.75%
Operating Return on Assets (OROA)	19.39%	25.16%	17.22%	12.78%	17.79%	16.51%	16.43%	17.48%	15.87%	13.45%
Return on Assets (ROA)	16.63%	49.26%	15.03%	14.67%	18.32%	20.74%	14.68%	17.19%	128.72%	16.94%
Return on Common Equity (ROCE)	23.54%	37.07%	21.00%	17.35%	21.93%	22.93%	19.34%	22.55%	51.36%	16.00%
Return on Equity Simple (ROE_SIMPLE)	23.46%	0.00%	24.90%	21.77%	21.45%	0.00%	19.81%	19.76%	43.53%	0.00%
Net Operating Profit after Tax (NOPAT)	339	188	332	243	316	272	332	350	315	246
NOPAT Margin	25.73%	43.62%	22.73%	18.79%	25.43%	26.86%	20.79%	25.24%	23.27%	22.34%
Net Nonoperating Expense Percent (NNEP)	0.17%	9.53%	0.42%	3.06%	3.10%	5.13%	1.20%	0.79%	91.60%	4.88%
Return On Investment Capital (ROIC_SIMPLE)	-	2.90%	-	-	-	3.68%	-	-	-	2.29%
Cost of Revenue to Revenue	19.24%	-22.98%	22.57%	19.83%	20.15%	13.98%	24.13%	20.59%	19.41%	16.68%
SG&A Expenses to Revenue	28.61%	46.76%	29.89%	31.68%	30.71%	34.99%	30.64%	32.53%	31.11%	38.81%
R&D to Revenue	17.71%	30.38%	17.90%	18.81%	19.53%	21.28%	17.85%	19.67%	18.71%	21.96%
Operating Expenses to Revenue	50.25%	76.99%	50.82%	59.83%	50.42%	57.24%	51.63%	52.78%	54.70%	58.66%
Earnings before Interest and Taxes (EBIT)	400	204	390	266	373	294	393	371	379	305
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	436	239	425	302	409	331	431	411	413	348
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.24	7.94	8.42	8.97	6.33	6.95	8.14	7.48	4.16	4.37
Price to Tangible Book Value (P/TBV)	10.69	10.59	11.92	12.31	8.54	9.06	10.70	9.48	5.69	6.20
Price to Revenue (P/Rev)	9.55	10.33	9.15	10.55	7.88	9.23	9.43	8.93	6.27	8.03
Price to Earnings (P/E)	35.12	30.31	33.80	41.15	29.43	32.98	40.99	37.79	9.56	10.46
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.85%	3.30%	2.96%	2.43%	3.40%	3.03%	2.44%	2.65%	10.46%	9.56%
Enterprise Value to Invested Capital (EV/IC)	12.97	11.03	11.07	11.72	8.35	9.54	9.91	10.09	6.50	6.25
Enterprise Value to Revenue (EV/Rev)	9.09	9.93	8.86	10.24	7.53	8.93	9.20	8.67	5.63	7.38
Enterprise Value to EBITDA (EV/EBITDA)	26.90	26.99	26.41	33.67	24.81	30.50	33.27	29.90	19.72	25.03
Enterprise Value to EBIT (EV/EBIT)	29.11	29.50	28.58	36.84	27.22	33.84	36.45	32.63	21.49	27.72
Enterprise Value to NOPAT (EV/NOPAT)	33.62	33.96	33.36	42.62	31.47	38.47	42.09	37.28	24.66	32.27
Enterprise Value to Operating Cash Flow (EV/OCF)	37.26	36.40	39.35	59.07	38.66	49.97	107.06	62.42	44.31	73.98
Enterprise Value to Free Cash Flow (EV/FCFF)	65.07	91.03	109.01	349.92	186.53	91.17	1,422.09	64.95	46.10	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.11	0.11	0.11	0.10	0.10	0.10	0.09	0.09	0.07	0.07
Long-Term Debt to Equity	0.11	0.11	0.11	0.10	0.10	0.10	0.09	0.09	0.07	0.07
Financial Leverage	-0.42	-0.38	-0.35	-0.33	-0.34	-0.30	-0.24	-0.28	-0.37	-0.34
Leverage Ratio	1.43	1.44	1.43	1.41	1.39	1.41	1.39	1.37	1.37	1.34
Compound Leverage Factor	1.45	1.50	1.47	1.45	1.45	1.49	1.45	1.43	1.46	1.53
Debt to Total Capital	9.64%	10.29%	9.85%	9.29%	9.02%	8.97%	8.58%	8.21%	6.63%	6.30%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	9.64%	10.29%	9.85%	9.29%	9.02%	8.97%	8.58%	8.21%	6.63%	6.30%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	1.25%	1.00%	0.94%	0.94%	0.87%	0.82%	0.64%	0.60%
Common Equity to Total Capital	90.36%	89.71%	88.90%	89.71%	90.04%	90.09%	90.55%	90.97%	92.73%	93.10%
Debt to EBITDA	0.37	0.41	0.36	0.40	0.41	0.45	0.40	0.37	0.38	0.42
Net Debt to EBITDA	-1.36	-1.09	-0.90	-1.03	-1.17	-1.06	-0.87	-0.92	-2.25	-2.25
Long-Term Debt to EBITDA	0.37	0.41	0.36	0.40	0.41	0.45	0.40	0.37	0.38	0.42
Debt to NOPAT	0.46	0.51	0.45	0.51	0.52	0.57	0.50	0.46	0.47	0.54
Net Debt to NOPAT	-1.69	-1.37	-1.13	-1.31	-1.49	-1.34	-1.10	-1.15	-2.82	-2.90
Long-Term Debt to NOPAT	0.46	0.51	0.45	0.51	0.52	0.57	0.50	0.46	0.47	0.54
Altman Z-Score	15.00	13.33	14.03	15.73	11.91	12.84	16.12	15.35	9.51	11.10
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.71%	0.57%	0.54%	0.55%	1.15%	0.99%	0.83%	0.80%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.83	3.03	3.01	3.15	3.28	3.38	3.75	3.71	3.46	4.18
Quick Ratio	2.61	1.87	1.88	2.01	2.15	2.06	2.32	2.32	2.70	3.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-362	-631	-682	-901	-748	-401	-972	-268	-359	-1,483
Operating Cash Flow to CapEx	517.36%	410.45%	510.73%	70.15%	744.12%	154.70%	-81.93%	435.01%	677.84%	-256.02%
Free Cash Flow to Firm to Interest Expense	0.00	-22.86	0.00	0.00	0.00	-7.95	0.00	0.00	0.00	-19.49
Operating Cash Flow to Interest Expense	0.00	10.25	0.00	0.00	0.00	2.71	0.00	0.00	0.00	-1.68
Operating Cash Flow Less CapEx to Interest Expense	0.00	7.75	0.00	0.00	0.00	0.96	0.00	0.00	0.00	-2.33
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.64	0.53	0.64	0.62	0.59	0.57	0.67	0.65	0.57	0.49
Accounts Receivable Turnover	8.09	6.55	7.51	7.25	7.31	6.56	7.42	7.55	7.86	6.99
Inventory Turnover	1.51	0.90	1.35	1.28	1.22	1.10	1.35	1.46	1.38	1.12
Fixed Asset Turnover	3.54	2.81	3.44	3.37	3.29	3.11	3.60	3.78	3.78	3.32
Accounts Payable Turnover	7.69	3.56	6.54	6.18	6.34	5.04	7.31	7.73	8.13	5.82
Days Sales Outstanding (DSO)	45.10	55.76	48.62	50.35	49.95	55.63	49.20	48.34	46.41	52.19
Days Inventory Outstanding (DIO)	241.12	404.04	270.30	285.89	298.39	331.84	269.65	249.88	264.07	325.02
Days Payable Outstanding (DPO)	47.46	102.48	55.81	59.08	57.59	72.47	49.96	47.22	44.91	62.71
Cash Conversion Cycle (CCC)	238.76	357.32	263.12	277.16	290.76	315.00	268.89	251.00	265.57	314.50
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,761	4,018	4,404	4,741	4,825	4,691	5,708	5,359	5,500	6,420
Invested Capital Turnover	1.57	1.24	1.41	1.30	1.25	1.15	1.22	1.23	1.23	0.98
Increase / (Decrease) in Invested Capital	701	819	1,014	1,145	1,064	673	1,304	618	674	1,729
Enterprise Value (EV)	48,769	44,340	48,752	55,550	40,284	44,761	56,547	54,058	35,735	40,120
Market Capitalization	51,226	46,128	50,326	57,185	42,116	46,246	57,957	55,662	39,752	43,663
Book Value per Share	$10.03	$9.39	$9.83	$10.52	$10.95	$10.96	$11.83	$12.34	$15.85	$16.95
Tangible Book Value per Share	$7.73	$7.05	$6.94	$7.66	$8.11	$8.42	$9.01	$9.74	$11.59	$11.94
Total Capital	6,881	6,473	6,725	7,107	7,394	7,382	7,861	8,176	10,294	10,740
Total Debt	663	666	663	660	667	662	674	672	683	677
Total Long-Term Debt	663	666	663	660	667	662	674	672	683	677
Net Debt	-2,456	-1,789	-1,658	-1,705	-1,902	-1,555	-1,479	-1,672	-4,083	-3,607
Capital Expenditures (CapEx)	60	69	62	48	55	88	65	85	52	50
Debt-free, Cash-free Net Working Capital (DFCFNWC)	857	858	921	981	965	1,208	1,362	1,309	338	804
Debt-free Net Working Capital (DFNWC)	2,596	2,073	2,175	2,490	2,829	2,840	3,060	3,299	4,784	4,780
Net Working Capital (NWC)	2,596	2,073	2,175	2,490	2,829	2,840	3,060	3,299	4,784	4,780
Net Nonoperating Expense (NNE)	-4.13	-211	-8.71	-62	-68	-98	-19	-15	-2,754	-138
Net Nonoperating Obligations (NNO)	-2,456	-1,789	-1,658	-1,705	-1,902	-2,029	-1,479	-2,146	-4,112	-3,643
Total Depreciation and Amortization (D&A)	35	35	35	36	37	37	39	40	35	43
Debt-free, Cash-free Net Working Capital to Revenue	15.98%	19.22%	16.74%	18.08%	18.04%	24.10%	22.17%	21.00%	5.32%	14.79%
Debt-free Net Working Capital to Revenue	48.40%	46.45%	39.54%	45.92%	52.90%	56.69%	49.80%	52.92%	75.39%	87.88%
Net Working Capital to Revenue	48.40%	46.45%	39.54%	45.92%	52.90%	56.69%	49.80%	52.92%	75.39%	87.88%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.55	$0.66	$0.56	$0.51	$0.63	$0.61	$0.58	$0.61	$5.14	$0.65
Adjusted Weighted Average Basic Shares Outstanding	619.80M	619M	607.50M	606.90M	607M	606.70M	601.60M	602.10M	597.20M	597.70M
Adjusted Diluted Earnings per Share	$0.55	$0.65	$0.56	$0.50	$0.63	$0.61	$0.58	$0.61	$5.13	$0.65
Adjusted Weighted Average Diluted Shares Outstanding	624.50M	624.20M	610.90M	610.30M	609.50M	609.40M	604.10M	604.30M	598.10M	599.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	618.26M	608.31M	606.22M	607.92M	606.50M	601.30M	602.60M	602.40M	589.80M	587.90M
Normalized Net Operating Profit after Tax (NOPAT)	383	129	370	355	318	281	375	357	354	220
Normalized NOPAT Margin	29.05%	30.09%	25.32%	27.42%	25.58%	27.78%	23.48%	25.79%	26.17%	19.98%
Pre Tax Income Margin	30.88%	49.17%	27.31%	21.24%	31.17%	30.76%	25.62%	27.90%	29.74%	31.73%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	7.37	0.00	0.00	0.00	5.84	0.00	0.00	0.00	4.01
NOPAT to Interest Expense	0.00	6.79	0.00	0.00	0.00	5.39	0.00	0.00	0.00	3.23
EBIT Less CapEx to Interest Expense	0.00	4.88	0.00	0.00	0.00	4.09	0.00	0.00	0.00	3.35
NOPAT Less CapEx to Interest Expense	0.00	4.30	0.00	0.00	0.00	3.64	0.00	0.00	0.00	2.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	65.64%	113.48%	105.51%	88.13%	90.83%	62.86%	44.72%	53.16%	36.29%	27.81%

Frequently Asked Questions About Edwards Lifesciences' Financials

When does Edwards Lifesciences's fiscal year end?

According to the most recent income statement we have on file, Edwards Lifesciences' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Edwards Lifesciences' net income changed over the last 9 years?

Edwards Lifesciences' net income appears to be on an upward trend, with a most recent value of $4.17 billion in 2024, rising from $494.90 million in 2015. The previous period was $1.40 billion in 2023.

What is Edwards Lifesciences's operating income?

Edwards Lifesciences's total operating income in 2024 was $1.38 billion, based on the following breakdown:

Total Gross Profit: $4.32 billion
Total Operating Expenses: $2.94 billion

How has Edwards Lifesciences revenue changed over the last 9 years?

Over the last 9 years, Edwards Lifesciences' total revenue changed from $2.49 billion in 2015 to $5.44 billion in 2024, a change of 118.1%.

How much debt does Edwards Lifesciences have?

Edwards Lifesciences' total liabilities were at $2.99 billion at the end of 2024, a 13.2% increase from 2023, and a 92.7% increase since 2015.

How much cash does Edwards Lifesciences have?

In the past 9 years, Edwards Lifesciences' cash and equivalents has ranged from $714.10 million in 2018 to $3.05 billion in 2024, and is currently $3.05 billion as of their latest financial filing in 2024.

How has Edwards Lifesciences' book value per share changed over the last 9 years?

Over the last 9 years, Edwards Lifesciences' book value per share changed from 23.21 in 2015 to 16.95 in 2024, a change of -27.0%.

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This page (NYSE:EW) was last updated on 4/15/2025 by MarketBeat.com Staff

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Edwards Lifesciences (EW) Financials

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Edwards Lifesciences (EW) Financials

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