Edwards Lifesciences Corporation
Edwards Lifesciences Corporation’s revenue for fiscal 2025 (year ended December 2025) was $6.1 billion, up 11.5% from fiscal 2024. In the quarter to June 2026, revenue grew 13.6%, EPS fell 26.3%, free cash flow grew 142.8% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for three consecutive years.
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Edwards Lifesciences Corporation (EW) Free cash flow margin
Edwards Lifesciences Corporation's free cash flow margin over the twelve months to 30 June 2026 was 22.0%, up 0.0 percentage points from fiscal 2025 (22.0%). Over the past ten years it has ranged from 4.78% (fiscal 2024) to 26.8% (fiscal 2021); the current reading is higher than 82% of that period. That is above the Medical Devices industry median of −7.24% and above the Healthcare sector median of 0.00%.
Free cash flow margin, annual
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Annual newest first
| Period | Free cash flow margin | Change (points) |
|---|---|---|
| FY2025 | 22.0% | 17.22 |
| FY2024 | 4.78% | (7.78) |
| FY2023 | 12.6% | (8.80) |
| FY2022 | 21.4% | (5.44) |
| FY2021 | 26.8% | 12.05 |
| FY2020 | 14.8% | (6.05) |
| FY2019 | 20.8% | 2.40 |
| FY2018 | 18.4% | (5.62) |
| FY2017 | 24.0% | 7.59 |
| FY2016 | 16.4% | (1.34) |
Against its own ten years
Free cash flow margin against peers
| Company | Free cash flow margin |
|---|---|
| DXCM DexCom, Inc. compare | 28.3% |
| EW Edwards Lifesciences Corporation | 22.0% |
| SYK Stryker Corporation compare | 18.2% |
| BSX Boston Scientific Corporation compare | 17.3% |
| MDT Medtronic PLC compare | 16.3% |
| STE STERIS plc compare | 15.5% |
| ZBH Zimmer Biomet Holdings, Inc. compare | 12.2% |
| PHG Koninklijke Philips N.V. compare | 8.99% |
| GEHC GE HealthCare Technologies Inc. compare | 7.42% |
| Medical Devices industry median | −7.24% |
| Healthcare sector median | 0.00% |
| Market median | 0.00% |
What Free cash flow margin is
Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.
(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue
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