Edwards Lifesciences Corporation (EW) vs Stryker Corporation (SYK)

Edwards Lifesciences Corporation and Stryker Corporation are both Medical Devices companies. Stryker Corporation is the larger, with a market value of $103.9B against $49.4B — 2.1× the size. Stryker Corporation trades at the lower P/E: 28.0× against 49.6×. Edwards Lifesciences Corporation grew revenue faster over the last twelve months: 14.6% against 8.48%. Edwards Lifesciences Corporation has the higher net margin (15.4% vs 14.4%) and the higher return on invested capital (12.8% vs 9.76%). Across the 22 metrics below, Stryker Corporation leads on 13 and Edwards Lifesciences Corporation on 9.

Valuation

Metric EW SYK Medical Devices median
P/E 49.59 27.99 22.18
P/S 7.64 4.04 2.70
P/B 4.64 4.35 2.46
Price to free cash flow 35.44 22.21 22.53
EV/EBITDA 28.56 17.16 11.78
EV/Sales 7.08 4.49 2.38
Earnings yield 2.02% 3.57% (8.22%)
Free cash flow yield 2.82% 4.50% (7.80%)

Profitability

Metric EW SYK Medical Devices median
Gross margin 77.84% 64.98% 56.01%
Operating margin 22.25% 21.42% (15.03%)
Net margin 15.43% 14.43% (20.40%)
Free cash flow margin 22.01% 18.20% (7.24%)
Return on equity 9.42% 16.51% (15.32%)
Return on assets 7.35% 7.91% (19.72%)
Return on invested capital 12.81% 9.76% (10.33%)

Growth

Metric EW SYK Medical Devices median
Revenue growth (TTM) 14.55% 8.48% 8.80%
EPS growth (last fiscal year) (73.74%) 8.25% —
Revenue growth, 5-year CAGR 6.70% 11.84% 15.23%
Net income growth, 5-year CAGR 5.45% 15.21% 0.00%

Health

Metric EW SYK Medical Devices median
Debt to equity 0.06 0.62 0.07
Current ratio 4.52 2.16 2.50
Net debt to EBITDA (2.55) 1.93 0.49

Dividend

Metric EW SYK Medical Devices median
Dividend yield — 0.77% 0.94%
Payout ratio 0.00 0.42 0.00

Size

Metric EW SYK Medical Devices median
Market cap 49.41b 103.94b 172.91m

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