EDWARDS LIFESCIENCES CORP
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures adjusted for later stock splits (split ratios inferred from EPS restated in later SEC filings).
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 598 | 5.5 |
| Stockholders' equity | 10,338 | 94.5 |
| Total capitalization | 10,936 | 100.0 |
576,400,000 shares outstanding at 31 July 2026 (cover page of the 10-Q filed 4 August 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, noncurrent | 598 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 1,050,000,000 |
| Common shares issued | 658,700,000 |
| Treasury shares | 78,000,000 |
| Par or stated value per share ($) | 1 |
| Preferred stock ($ millions) | 0 |
| Outstanding at 7/31/26 | 576,400,000 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | – | – |
| 2024 | – | – |
| 2023 | – | – |
| 2022 | – | – |
| 2021 | – | – |
HISTORY AND BUSINESS
HISTORY: Incorporated in Delaware. Formerly known as CVG CONTROLLED INC (to 21 January 2000).
BUSINESS: Classified by the SEC under Standard Industrial Classification 3842, Orthopedic, Prosthetic & Surgical Appliances & Supplies. Large accelerated filer. Principal executive office: One Edwards Way, Irvine, CA 92614. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Revenues | 6,068 | 5,440 | 5,010 |
| Cost of revenues | 1,334 | 1,118 | 978 |
| Gross profit | 4,733 | 4,322 | 4,032 |
| Research and development | 1,079 | 1,053 | 963 |
| Selling, general and administrative | 2,085 | 1,789 | 1,582 |
| Depreciation and amortization | 157 | 155 | 145 |
| Operating income | 1,264 | 1,379 | 1,309 |
| Interest expense | 20 | 20 | 18 |
| Income before income taxes | 1,273 | 1,548 | 1,372 |
| Income taxes | 217 | 152 | 152 |
| Net income | 1,074 | 4,175 | 1,402 |
| Earned per share, diluted ($) | 1.83 | 6.97 | 2.30 |
| Dividends per share ($) | – | – | – |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Cash and equivalents | 2,938 | 3,045 |
| Receivables, net | 660 | 609 |
| Inventories | 1,126 | 1,087 |
| Total current assets | 6,739 | 6,285 |
| Property, plant and equipment, net | 1,812 | 1,686 |
| Goodwill | 1,769 | 1,777 |
| Total assets | 13,697 | 13,055 |
| Total current liabilities | 1,814 | 1,505 |
| Long-term debt | 598 | 598 |
| Total liabilities | 3,360 | 2,992 |
| Stockholders' equity | 10,338 | 9,998 |
| Total liabilities and equity | 13,697 | 13,055 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 6,068 | 1,264 | 1,074 | 17.7 | 1.83 | – | 1,595 | 260 | 1,335 | 13,697 | 3,360 | 598 | 10,338 | 10.4 | 0.06 |
| 12/31/24 | 5,440 | 1,379 | 4,175 | 76.7 | 6.97 | – | 542 | 252 | 290 | 13,055 | 2,992 | 598 | 9,998 | 41.8 | 0.06 |
| 12/31/23 | 5,010 | 1,309 | 1,402 | 28.0 | 2.30 | – | 896 | 253 | 643 | 9,363 | 2,644 | 597 | 6,650 | 21.1 | 0.09 |
| 12/31/22 | 4,464 | 1,498 | 1,522 | 34.1 | 2.44 | – | 1,218 | 245 | 974 | 8,292 | 2,486 | 596 | 5,807 | 26.2 | 0.10 |
| 12/31/21 | 5,232 | 1,690 | 1,503 | 28.7 | 2.38 | – | 1,732 | 326 | 1,406 | 8,503 | 2,667 | 596 | 5,836 | 25.8 | 0.10 |
| 12/31/20 | 4,386 | 898 | 823 | 18.8 | 1.30 | – | 1,054 | 407 | 647 | 7,237 | 2,663 | 595 | 4,574 | 18.0 | 0.13 |
| 12/31/19 | 4,348 | 1,147 | 1,047 | 24.1 | 1.64 | – | 1,183 | 254 | 928 | 6,488 | 2,340d | 594 | 4,148 | 25.2 | 0.14 |
| 12/31/18 | 3,723 | 748 | 722 | 19.4 | 1.13 | – | 927 | 239 | 688 | 5,324 | 2,183d | 594 | 3,140 | 23.0 | 0.19 |
| 12/31/17 | 3,435 | 1,089 | 584 | 17.0 | 0.90 | – | 1,001 | 168 | 833 | 5,666 | 2,710d | 1,036 | 2,956 | 19.7 | 0.35 |
| 12/31/16 | 2,964 | 751 | 570 | 19.2 | 0.87 | – | 704 | 176 | 528 | 4,510 | 1,891d | 822 | 2,619 | 21.7 | 0.31 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
Edwards Lifesciences Corp
CIK 1099800 · EIN 36-4316614
PRINCIPAL OFFICE:
One Edwards Way, Irvine, CA 92614
Tel.: 9492502500
INCORPORATED:
Delaware
INDUSTRY (SEC SIC CODE):
3842 · Orthopedic, Prosthetic & Surgical Appliances & Supplies
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 25 February 2026
FORMER NAMES:
CVG CONTROLLED INC
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/25/26) · 10-K FY2024 (filed 2/28/25) · 10-K FY2023 (filed 2/12/24) · 10-K FY2022 (filed 2/13/23) · 10-K FY2021 (filed 2/14/22) · 10-K FY2020 (filed 2/12/21) · 10-K FY2019 (filed 2/14/20) · 10-K FY2018 (filed 2/15/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.