Edwards Lifesciences Corp.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Edwards Lifesciences Corp. reported revenue of $6.1B (+11.5% year on year) and net income of $1.1B (-74.3% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net sales | $6.1B | $5.4B | $6.0B | $5.4B |
| Cost of sales | $1.3B | $1.1B | $1.4B | $1.1B |
| Gross profit | $4.7B | $4.3B | $4.6B | $4.3B |
| Selling, general, and administrative expenses | $2.1B | $1.8B | $1.8B | $1.6B |
| Research and development expenses | $1.1B | $1.1B | $1.1B | $945.2M |
| Intellectual property agreement and certain litigation expenses (Note 3) | $325.4M | $40.4M | — | $15.8M |
| Change in fair value of contingent consideration liabilities (Note 13) | ($12.5M) | $0 | ($26.2M) | ($35.8M) |
| Restructuring charges, separation costs, and other (Note 4) | $19.1M | $61.0M | — | — |
| Intangible assets impairment charges | $40.0M | — | — | — |
| Other operating income | ($67.2M) | ($300.0K) | — | — |
| Operating income | $1.3B | $1.4B | $1.5B | $1.7B |
| Interest expense | $20.4M | $19.8M | $17.6M | $19.2M |
| Interest income | ($168.8M) | ($120.3M) | ($67.2M) | ($35.5M) |
| Loss on impairment | $146.9M | — | — | — |
| Other non-operating income, net (Note 18) | ($7.2M) | ($68.9M) | ($14.4M) | ($2.6M) |
| Income from continuing operations before provision for income taxes | $1.3B | $1.5B | $1.6B | $1.8B |
| Provision for income taxes (Note 19) | $216.9M | $152.1M | $198.7M | $245.5M |
| Net income from continuing operations | $1.1B | $1.4B | — | — |
| Income from discontinued operations, net of tax | $13.4M | $2.8B | — | — |
| Net income | $1.1B | $4.2B | $1.4B | $1.5B |
| Less: Net loss attributable to noncontrolling interest | ($4.1M) | ($4.9M) | ($3.0M) | — |
| Net income attributable to Edwards Lifesciences Corporation. | $1.1B | $4.2B | $1.4B | — |
| Discontinued operations (in dollars per share) | $0.03 | $4.64 | — | — |
| Basic earnings per share (in dollars per share) | $1.84 | $6.98 | $2.31 | $2.46 |
| Continuing operations (in dollars per share) | $1.81 | $2.34 | — | — |
| Discontinued operations (in dollars per share) | $0.02 | $4.63 | — | — |
| Diluted earnings per share (in dollars per share) | $1.83 | $6.97 | $2.30 | $2.44 |
| Basic (in shares) | 584.8M | 597.7M | 606.7M | 619.0M |
| Diluted (in shares) | 585.8M | 599.3M | 609.4M | 624.2M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Net sales | $1.7B | $1.6B | $1.6B | $1.5B |
| Cost of sales | $392.4M | $362.6M | $345.2M | $344.4M |
| Gross profit | $1.3B | $1.3B | $1.2B | $1.2B |
| Selling, general, and administrative expenses | $561.2M | $522.2M | $514.6M | $502.0M |
| Research and development expenses | $278.9M | $263.3M | $280.7M | $276.2M |
| Certain litigation expenses | $6.3M | $37.1M | $90.4M | $15.5M |
| Separation costs | $0 | $0 | — | $4.2M |
| Other operating income | ($11.0M) | ($14.2M) | ($12.5M) | ($21.3M) |
| Operating income, net | $513.2M | $477.6M | $307.1M | $411.2M |
| Interest income, net | ($30.0M) | ($33.5M) | ($38.6M) | ($37.4M) |
| Loss on impairment (Note 6) | $40.0M | $123.6M | $0 | — |
| Other non-operating (income) expense, net (Note 7) | ($16.6M) | ($71.5M) | ($2.7M) | $1.3M |
| Income from continuing operations before provision for income taxes | $519.8M | $459.0M | $348.4M | $400.2M |
| Provision for income taxes | $278.4M | $78.3M | $56.1M | $64.3M |
| Net income from continuing operations | $241.4M | $380.7M | $292.3M | $335.9M |
| Loss from discontinued operations, net of tax | $0 | $0 | ($2.0M) | ($4.4M) |
| Net income | $241.4M | $380.7M | $290.3M | $331.5M |
| Less: Net loss attributable to noncontrolling interest | ($500.0K) | $0 | ($800.0K) | ($1.7M) |
| Net income attributable to Edwards Lifesciences Corporation | $241.9M | $380.7M | $291.1M | $333.2M |
| Basic earnings per share (in dollars per share) | $0.42 | $0.66 | $0.50 | $0.57 |
| Continuing operations (in dollars per share) | $0.42 | $0.66 | $0.50 | $0.58 |
| Discontinued operations (in dollars per share) | $0.00 | $0.00 | $0.00 | -$0.01 |
| Diluted earnings per share (in dollars per share) | $0.42 | $0.66 | $0.50 | $0.56 |
| Basic (in shares) | 576.4M | 579.2M | 584.7M | 587.0M |
| Diluted (in shares) | 577.6M | 580.7M | 585.7M | 587.9M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $2.9B | $3.0B | $1.1B | $769.0M |
| Short-term investments (Note 8) | $1.3B | $930.7M | $500.5M | $446.3M |
| Accounts receivable, net of allowances of $15.0 and $11.6, respectively | $659.6M | $609.1M | $775.1M | $643.0M |
| Other receivables | $252.5M | $118.3M | $61.8M | $56.1M |
| Inventories (Note 6) | $1.1B | $1.1B | $1.2B | $875.5M |
| Prepaid expenses | $135.0M | $121.0M | $146.8M | $110.0M |
| Other current assets | $339.3M | $347.6M | $239.3M | $195.9M |
| Current assets of discontinued operations (Note 5) | $0 | $26.8M | — | — |
| Total current assets | $6.7B | $6.3B | $4.0B | $3.1B |
| Long-term investments (Note 8) | $278.6M | $307.9M | $583.9M | $1.2B |
| Property, plant, and equipment, net (Note 6) | $1.8B | $1.7B | $1.7B | $1.6B |
| Operating lease right-of-use assets (Note 7) | $102.7M | $98.2M | $94.0M | $92.3M |
| Goodwill (Note 11) | $1.8B | $1.8B | $1.3B | $1.2B |
| Other intangible assets, net (Note 11) | $1.1B | $1.2B | $428.4M | $285.2M |
| Deferred income taxes | $1.1B | $992.1M | $754.6M | $484.0M |
| Other assets | $730.2M | $721.6M | $463.7M | $299.1M |
| Non-current assets of discontinued operations (Note 5) | $0 | $10.8M | — | — |
| Total assets | $13.7B | $13.1B | $9.4B | $8.3B |
| Accounts payable | $227.5M | $197.4M | $201.4M | $201.9M |
| Accrued and other liabilities (Note 6) | $1.6B | $1.3B | $969.1M | $795.0M |
| Operating lease liabilities (Note 7) | $24.5M | $23.4M | $24.9M | $25.5M |
| Current liabilities of discontinued operations (Note 5) | $0 | $2.0M | — | — |
| Total current liabilities | $1.8B | $1.5B | $1.2B | $1.0B |
| Long-term debt (Note 12) | $598.3M | $597.7M | $597.0M | $596.3M |
| Operating lease liabilities (Note 7) | $82.6M | $78.9M | $73.0M | $69.5M |
| Uncertain tax positions (Note 19) | $502.7M | $384.6M | $339.3M | $267.5M |
| Litigation settlement accrual | $0 | $52.7M | $94.2M | $143.0M |
| Other liabilities | $362.3M | $357.5M | $264.3M | $217.5M |
| Total liabilities | $3.4B | $3.0B | $2.6B | $2.5B |
| Preferred stock, $0.01 par value, authorized 50.0 shares, no shares outstanding | 0 | 0 | 0 | 0 |
| Common stock, $1.00 par value, 1,050.0 shares authorized, 658.7 and 654.8 shares issued, and 580.7 and 588.6 shares outstanding, respectively | 658.7M | 654.8M | 650.5M | 646.3M |
| Additional paid-in capital | $2.8B | $2.6B | $2.3B | $2.0B |
| Retained earnings | $14.2B | $13.2B | $9.0B | $7.6B |
| Accumulated other comprehensive loss (Note 17) | ($238.3M) | ($244.5M) | ($242.8M) | ($254.9M) |
| Treasury stock, at cost, 78.0 and 66.2 shares, respectively | -7.1B | -6.2B | -5.0B | -4.1B |
| Total Edwards Lifesciences Corporation stockholders' equity | $10.3B | $10.0B | $6.7B | $5.8B |
| Noncontrolling interest (Note 9) | $0 | $64.5M | $69.4M | — |
| Total stockholders' equity | $10.3B | $10.1B | $6.7B | — |
| Total liabilities and equity | $13.7B | $13.1B | $9.4B | $8.3B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $2.9B | $2.4B | $2.7B | $3.3B |
| Short-term investments (Note 5) | $1.3B | $1.2B | $1.2B | $789.4M |
| Accounts receivable, net of allowances of $16.0 and $15.0, respectively | $770.4M | $775.7M | $693.3M | $697.0M |
| Other receivables | $185.3M | $197.3M | $199.5M | $205.6M |
| Inventories (Note 2) | $1.1B | $1.1B | $1.1B | $1.1B |
| Prepaid expenses | $119.0M | $135.7M | $125.2M | $110.0M |
| Other current assets | $360.3M | $329.5M | $323.4M | $314.4M |
| Total current assets | $6.8B | $6.2B | $6.4B | $6.6B |
| Long-term investments (Note 5) | $244.1M | $285.6M | $274.7M | $298.5M |
| Property, plant, and equipment, net | $1.8B | $1.8B | $1.7B | $1.7B |
| Operating lease right-of-use assets | $100.3M | $99.3M | $96.5M | $99.0M |
| Goodwill | $2.0B | $1.8B | $1.8B | $1.8B |
| Other intangible assets, net | $1.4B | $1.2B | $1.1B | $1.2B |
| Deferred income taxes | $911.8M | $1.1B | $1.1B | $1.1B |
| Other assets (Note 2) | $616.4M | $738.9M | $784.8M | $743.0M |
| Total assets | $13.9B | $13.3B | $13.3B | $13.5B |
| Accounts payable | $210.5M | $181.1M | $165.0M | $162.1M |
| Accrued and other liabilities (Note 2) | $1.3B | $1.2B | $1.4B | $1.2B |
| Operating lease liabilities | $24.1M | $24.3M | $26.8M | $25.9M |
| Total current liabilities | $1.5B | $1.4B | $1.6B | $1.4B |
| Long-term debt | $598.7M | $598.5M | $598.2M | $598.0M |
| Operating lease liabilities | $81.6M | $80.1M | $75.3M | $78.7M |
| Uncertain tax positions | $572.2M | $555.4M | $442.9M | $421.6M |
| Other liabilities | $381.8M | $350.7M | $362.6M | $379.2M |
| Total liabilities | $3.1B | $3.0B | $3.1B | $2.9B |
| Preferred stock, $0.01 par value, authorized 50.0 shares, no shares outstanding | 0 | 0 | 0 | 0 |
| Common stock, $1.00 par value, 1,050.0 shares authorized, 661.7 and 658.7 shares issued, and 576.6 and 580.7 shares outstanding, respectively | 661.7M | 660.0M | 658.2M | 657.6M |
| Additional paid-in capital | $3.0B | $2.8B | $2.7B | $2.8B |
| Retained earnings | $14.9B | $14.6B | $14.1B | $13.9B |
| Accumulated other comprehensive loss (Note 13) | ($214.6M) | ($221.3M) | ($250.4M) | ($264.1M) |
| Treasury stock, at cost, 85.1 and 78.0 shares, respectively | -7.7B | -7.5B | -7.0B | -6.5B |
| Total Edwards Lifesciences Corporation stockholders' equity | $10.6B | $10.3B | $10.2B | $10.5B |
| Noncontrolling interest | $106.9M | — | $0 | $61.2M |
| Total stockholders' equity | $10.7B | — | $10.2B | $10.6B |
| Total liabilities and equity | $13.9B | $13.3B | $13.3B | $13.5B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $1.1B | $4.2B | $1.4B | $1.5B |
| Depreciation and amortization | $156.6M | $155.2M | $144.9M | $139.6M |
| Non-cash operating lease cost | $25.9M | $27.8M | $28.2M | $27.2M |
| Stock-based compensation (Note 2 and Note 16) | $158.1M | $162.3M | $139.4M | $126.8M |
| Gain on sale of product groups (Note 5) | ($33.9M) | ($3.3B) | — | — |
| Deferred income taxes | ($117.6M) | ($323.4M) | ($272.1M) | ($254.5M) |
| Change in fair value of contingent consideration liabilities (Note 13) | ($12.5M) | $0 | ($26.2M) | ($35.8M) |
| Gain on remeasurement of previously held equity interest upon acquisition (Note 10) | $0 | ($55.0M) | — | — |
| Loss on impairment and intangible assets impairment charges (Note 11 and Note 9) | $186.9M | $0 | $0 | $55.1M |
| Other | $7.7M | $18.4M | $8.4M | $7.8M |
| Accounts and other receivables, net | ($23.0M) | $121.2M | ($141.2M) | ($84.1M) |
| Inventories | $50.7M | ($256.1M) | ($289.0M) | ($213.4M) |
| Prepaid expenses and other current assets | ($23.7M) | $22.7M | ($81.8M) | $100.0K |
| Accounts payable and accrued liabilities | $395.1M | $89.5M | $146.0M | ($21.4M) |
| Intellectual property agreement accrual | ($76.5M) | ($36.8M) | ($33.0M) | ($45.0M) |
| Income taxes | ($141.8M) | ($186.7M) | ($5.8M) | ($5.6M) |
| Long-term prepaid royalties (Note 3) | $8.3M | $8.3M | ($109.9M) | — |
| Other | ($34.5M) | ($21.4M) | ($11.6M) | ($52.0M) |
| Net cash provided by operating activities | $1.6B | $542.3M | $895.8M | $1.2B |
| Capital expenditures | ($260.2M) | ($252.4M) | ($253.0M) | ($244.6M) |
| Investments in unconsolidated entities (Note 8) | ($64.8M) | — | — | — |
| Purchases of held-to-maturity investments (Note 8) | ($43.3M) | ($45.9M) | ($66.4M) | ($353.5M) |
| Proceeds from sales and maturities of held-to-maturity investments (Note 8) | $62.1M | $57.5M | $97.9M | $419.5M |
| Purchases of available-for-sale investments (Note 8) | ($3.1B) | ($899.9M) | ($9.1M) | ($315.8M) |
| Proceeds from sales and maturities of available-for-sale investments (Note 8) | $2.8B | $800.1M | $617.9M | $939.6M |
| Business combinations, net of cash (Note 10) | $0 | ($1.1B) | ($95.2M) | — |
| Payments for acquisition options (Note 9) | ($25.1M) | ($46.2M) | ($30.0M) | ($109.6M) |
| Issuances of notes receivable | ($140.9M) | ($63.0M) | ($62.5M) | ($52.3M) |
| Investments in intangible assets | $0 | ($30.0M) | ($13.3M) | ($20.2M) |
| Payment for working capital adjustment and proceeds from sale of Critical Care (Note 5) | ($36.3M) | — | — | — |
| Proceeds from sale of non-core product group (Note 5) | $78.8M | $3.9B | — | — |
| Other | ($7.4M) | ($72.9M) | ($12.5M) | ($28.8M) |
| Net cash (used in) provided by investing activities | ($712.9M) | $2.3B | $173.8M | $252.3M |
| Purchase of remaining noncontrolling interest in subsidiary (Note 9) | ($233.7M) | — | — | — |
| Purchases of treasury stock | ($893.4M) | ($1.2B) | ($879.6M) | ($1.7B) |
| Proceeds from stock plans | $174.1M | $179.5M | $169.9M | $146.4M |
| Other | ($3.8M) | ($3.1M) | ($1.0M) | ($3.6M) |
| Net cash used in financing activities | ($956.8M) | ($983.0M) | ($711.0M) | ($1.6B) |
| Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash | ($44.8M) | $38.6M | $16.8M | $19.2M |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | ($119.3M) | $1.9B | $375.4M | ($94.8M) |
| Cash, cash equivalents, and restricted cash at beginning of year | $3.1B | $1.1B | $772.6M | $867.4M |
| Cash, cash equivalents, and restricted cash at end of year (Note 6) | $2.9B | $3.1B | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $622.1M | $380.7M | $978.2M | $687.9M |
| Depreciation and amortization | $83.6M | $40.9M | $113.9M | $74.7M |
| Non-cash operating lease cost | $13.1M | $6.5M | $19.3M | $12.5M |
| Stock-based compensation (Note 10) | $87.6M | $45.4M | $118.9M | $77.7M |
| Deferred income taxes | $190.7M | $9.4M | ($63.2M) | ($45.2M) |
| Gain on remeasurement of previously held interest upon business combinations (Note 7) | ($85.1M) | ($65.2M) | $0 | — |
| Loss on impairment (Note 6) | $163.6M | $123.6M | — | $47.1M |
| Other | ($10.3M) | $500.0K | $2.3M | $8.3M |
| Accounts and other receivables, net | ($128.1M) | ($117.9M) | ($55.4M) | ($68.6M) |
| Inventories | ($25.1M) | ($1.6M) | $39.7M | $41.5M |
| Accounts payable and accrued liabilities | ($223.4M) | ($347.1M) | $226.4M | $300.0K |
| Income taxes | $53.9M | $41.9M | ($199.4M) | ($189.2M) |
| Prepaid expenses and other current assets | $20.8M | ($8.7M) | ($17.5M) | ($3.3M) |
| Intellectual property agreement accrual | ($50.0M) | ($50.0M) | ($61.7M) | ($49.2M) |
| Other | ($17.7M) | ($18.1M) | ($31.8M) | ($23.9M) |
| Net cash provided by operating activities | $695.7M | $43.8M | $1.1B | $570.6M |
| Capital expenditures | ($131.8M) | ($64.9M) | ($162.8M) | ($105.3M) |
| Investments in unconsolidated affiliates | ($13.4M) | ($6.3M) | ($49.8M) | ($48.3M) |
| Purchases of held-to-maturity investments (Note 5) | ($18.3M) | ($12.5M) | ($43.2M) | ($18.8M) |
| Proceeds from held-to-maturity investments (Note 5) | $18.4M | $12.5M | $54.2M | $32.0M |
| Purchases of available-for-sale investments (Note 5) | ($1.2B) | ($641.1M) | ($2.3B) | ($1.3B) |
| Proceeds from available-for-sale investments (Note 5) | $1.2B | $710.1M | $2.1B | $1.4B |
| Payment for working capital adjustment for sale of product group (Note 4) | $0 | $0 | ($36.3M) | ($36.3M) |
| Business combinations, net of cash (Note 7) | ($33.7M) | ($35.1M) | $0 | — |
| Payment for acquisition options | $0 | $0 | ($19.6M) | ($17.0M) |
| Issuances of notes receivable | ($53.2M) | ($55.2M) | ($93.4M) | ($70.6M) |
| Other | ($7.3M) | ($300.0K) | ($7.9M) | ($3.4M) |
| Net cash used in investing activities | ($286.0M) | ($92.8M) | ($514.6M) | ($86.8M) |
| Purchases of treasury stock | ($575.1M) | ($421.8M) | ($852.8M) | ($264.1M) |
| Equity forward contract related to accelerated share repurchase agreement (Note 11) | $0 | ($100.0M) | $0 | ($50.0M) |
| Proceeds from stock plans | $122.7M | $68.9M | $141.8M | $107.1M |
| Other | $900.0K | $1.7M | ($700.0K) | $1.7M |
| Net cash used in financing activities | ($451.5M) | ($451.2M) | ($945.4M) | ($205.3M) |
| Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash | $12.0M | $8.2M | ($48.3M) | ($47.3M) |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | ($29.8M) | ($492.0M) | ($364.0M) | $231.2M |
| Cash, cash equivalents, and restricted cash at beginning of period | $2.9B | $2.9B | $3.1B | $3.1B |
| Cash, cash equivalents, and restricted cash at end of period (Note 2) | $2.9B | $2.4B | $2.7B | $3.3B |
Edwards Lifesciences Corp. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.