Edwards Lifesciences Corporation

$89.78

-1.15%

N/A-$1.04

Healthcare

Medical - Devices

NYSE

Active Trading

Edwards Lifesciences Corporation is a global medical technology firm specializing in sophisticated products and technologies for structural heart conditions, alongside critical care ...

Key Metrics of EW

Snapshot

Latest / TTM · 6 periods

Market Cap

$51.70B

ROCE

14.8%

EV / EBITDA

32.14x

+1.0% YoY

FCF Yield

2.8%

+0.1% YoY

Cash Conversion Cycle

287.6d

Current Ratio

4.52

Quick take

TTM —

Positive CCC

Key Metrics

Latest / TTM · 6 periods

Valuation trend

Valuation trend table

Metric	2021	2022	2023	2024	2025	TTM
Market CapTotal market value of all shares outstanding.	$80.75B	$46.18B	$46.26B	$44.25B	$49.85B	$51.70B
Enterprise ValueCompany value including debt and cash adjustments.	$80.58B	$46.11B	$45.81B	$41.90B	$47.62B	$49.49B
EV / SalesHow many dollars investors pay per dollar of sales.	15.40x	8.57x	9.14x	7.70x	7.85x	7.60x
EV / EBITDAValuation multiple versus operating earnings before non-cash charges.	42.63x	23.52x	29.85x	24.32x	33.31x	32.14x
Net Debt / EBITDALeverage ratio using net debt divided by EBITDA.	-0.09	-0.04	-0.29	-1.36	-1.56	-1.43

Returns + ROCE gauge

ROCE latest

14.8%

Prev year 13.8%

Returns + ROCE gauge table

Metric	2021	2022	2023	2024	2025	TTM
ROEProfit generated from shareholders' equity.	25.8%	26.2%	21.1%	41.8%	10.4%	9.7%
ROAProfit generated from total assets.	17.7%	18.4%	15.0%	32.0%	7.8%	7.2%
ROICReturn generated on invested operating capital.	28.9%	29.4%	20.4%	14.9%	10.8%	9.2%
ROCEOperating return on long-term capital used.	21.6%	23.4%	17.5%	11.9%	13.8%	14.8%
Earnings YieldEarnings as a percentage of market value.	1.9%	3.3%	3.0%	9.4%	2.2%	1.9%

Cash flow quality

Cash flow quality table

Metric	2021	2022	2023	2024	2025	TTM
FCFFCash flow available to all capital providers.	$1.42B	$975.96M	$645.15M	$277.75M	$1.33B	$1.43B
FCFECash flow available to equity holders after debt flows.	$1.40B	$953.20M	$629.20M	$259.90M	$1.33B	$1.43B
FCF YieldFree cash flow divided by market capitalization.	1.7%	2.1%	1.4%	0.7%	2.7%	2.8%
Income QualityHow well accounting earnings are backed by cash flow.	1.15	0.80	0.64	0.13	1.49	1.71
Capex / OCFShare of operating cash flow spent on capital expenditures.	19.0%	21.7%	29.7%	46.5%	16.3%	16.7%

Operating efficiency

Operating efficiency table

Metric	2021	2022	2023	2024	2025	TTM
DSOAverage days to collect cash from customers.	46.4d	47.4d	60.3d	48.8d	54.9d	53.6d
DIOAverage days inventory stays before being sold.	216.4d	273.8d	317.9d	354.9d	309.8d	287.6d
DPOAverage days the company takes to pay suppliers.	60.9d	63.1d	65.7d	64.5d	62.6d	53.5d
Operating CycleTime from buying inventory to collecting receivables.	262.7d	321.2d	378.2d	403.7d	364.7d	341.2d
Cash Conversion CycleNet days cash is tied in operations.	201.9d	258.1d	312.6d	339.3d	302.1d	287.6d

Snapshot

Latest / TTM: —

Market Cap

$51.70B

ROE

9.7%

FCF Yield

2.8%

Current Ratio

4.52

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