Edwards Lifesciences (EW) stock
Health Care · Health Care Equipment
Edwards Lifesciences (EW) is a Health Care Equipment company in the Health Care sector, headquartered in Irvine, California. As of October 23, 2026, EW closed at $89.07, a market capitalization of $51.34 billion, the 229th largest company in the S&P 500. Over the last twelve months it generated $6.51 billion in revenue (+14% year over year) and $1.43 billion in free cash flow. The stock trades at 53.0x trailing earnings and 26.3x forward earnings.
- 1-year total return: +16.4% (dividends reinvested)
- 5-year return: -5.2% a year
- 52-week range: $74.66 – $96.29
- Gross margin 77.8%, operating margin 29.8%
- FI Handbook report card: B- across 10 metrics
- 29th largest of 60 Health Care stocks in the S&P 500
EW price chart
1Y price change: +16.4% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| EW | +2.6% | +4.5% | +16.4% | +8.9% | -5.2% | +8.5% | +17.0% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2000.
EW key statistics
- Market cap
- $51.3B
- #229 in S&P 500
- P/E (TTM)
- 53.0x
- Forward P/E
- 26.3x
- EPS (TTM)
- $1.68
- Revenue (TTM)
- $6.5B
- +14%
- Free cash flow
- $1.4B
- Gross margin
- 77.8%
- Operating margin
- 29.8%
- Return on equity
- 9.2%
- Dividend yield
- None
- 52-week range
- $74.66 – $96.29
- Beta
- 0.86
- Price / sales
- 7.9x
- EV / EBITDA
- 24.0x
- Debt / equity
- 0.07x
- Employees
- 16,000
EW report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth13.6%B
- Gross margin77.8%A
- Operating margin29.8%B
- FCF margin22.0%B
- Return on equity9.2%D
- Net debt / EBITDA-1.8xA
- Forward P/E26.3xC
- PEG ratio1.9xC
- Shareholder yield1.7%C
- Share count change / yr-1.5%B
Edwards Lifesciences Corporatio financials
Revenue went from $3.0B in fiscal 2016 to $6.1B in fiscal 2025, growing 8.3% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.0B | $3.4B | $3.7B | $4.3B | $4.4B | $5.2B | $4.5B | $5.0B | $5.4B | $6.1B |
| Gross profit | $2.2B | $2.6B | $2.8B | $3.2B | $3.3B | $4.0B | $3.7B | $4.0B | $4.3B | $4.7B |
| Operating income | $751.2M | $1.1B | $748.2M | $1.1B | $897.6M | $1.7B | $1.5B | $1.3B | $1.4B | $1.3B |
| Net income | — | — | — | — | — | $1.5B | $1.5B | $1.4B | $4.2B | $1.1B |
| EPS (diluted) | $0.87 | $0.90 | $1.13 | $1.64 | $1.30 | $2.38 | $2.44 | $2.30 | $6.97 | $1.83 |
| Free cash flow | $528.3M | $832.6M | $688.0M | $928.5M | $647.3M | $1.4B | $973.6M | $642.8M | $289.9M | $1.3B |
| Buybacks | $662.3M | $763.3M | $795.5M | $263.3M | $625.4M | $512.8M | $1.7B | $879.6M | $1.2B | $893.4M |
| Diluted shares | 653.4M | 647.7M | 640.9M | 636.7M | 631.9M | 631.2M | 624.2M | 609.4M | 599.3M | 585.8M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into EW?
A reverse DCF asks what growth the current price requires. With an enterprise value of $47.8B and $1.4B of trailing free cash flow, Edwards Lifesciences Corporatio needs to grow free cash flow about 23.6% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 15.6% a year over the last five years.
P/E ratio history
Current 48.7x vs. median 39.3x (10th–90th percentile 21.2x–62.5x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
EW analyst price targets
27 analysts' average 12-month target is $101.39 (+14% vs. $89.07). Targets range from $84.00 to $110.00. 77% rate it a buy.
EW earnings
Next report: November 4, 2026. Edwards Lifesciences Corporatio has beaten EPS estimates 2 quarters in a row. Last quarter's revenue was $1.7B (+14% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 23, 2026 | $0.74 | $0.78 | +5.3% |
| Apr 23, 2026 | $0.73 | $0.78 | +7.3% |
| Feb 10, 2026 | $0.62 | $0.58 | -6.3% |
| Oct 30, 2025 | $0.59 | $0.67 | +12.6% |
| Jul 24, 2025 | $0.62 | $0.67 | +7.6% |
| Apr 23, 2025 | $0.60 | $0.64 | +7.5% |
| Feb 11, 2025 | $0.55 | $0.59 | +6.4% |
| Oct 24, 2024 | $0.59 | $0.67 | +14.0% |
Stocks like EW
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 ABT Abbott Laboratories | +1.16% | -16% | $179.4B | 38.6x | Compare |
 ISRG Intuitive Surgical | +1.90% | -18% | $159.8B | 54.7x | Compare |
 MDT Medtronic plc. | -1.22% | +5% | $122.0B | 23.4x | Compare |
 SYK Stryker | +0.02% | -19% | $117.8B | 31.8x | Compare |
 BSX Boston Scientific | -0.70% | -55% | $66.2B | 18.5x | Compare |
 BDX Becton, Dickinson and | -0.75% | +39% | $54.2B | 46.3x | Compare |
 IDXX IDEXX Laboratories | -1.13% | -12% | $44.1B | 39.4x | Compare |
 RMD ResMed | -0.08% | -4% | $35.6B | 24.2x | Compare |
EW news
- Does Valve Repair Approval Change The Bull Case For Edwards Lifesciences (EW)? · Oct 23, 2026
- Edwards wins FDA approval for tricuspid valve repair device · Oct 23, 2026
- Edwards secures FDA approval for tricuspid valve repair system · Oct 22, 2026
- FDA Approval of Edwards Lifesciences’ PASCAL Precision System Opens New Treatment Pathway for Patients With Tricuspid Valve Disease · Oct 21, 2026
- FDA Flags High-Risk Heart Device Recall At Edwards Lifesciences After Patient Death · Oct 16, 2026
EW stock FAQ
What is EW's market cap?
Edwards Lifesciences's market capitalization is $51.34 billion as of October 23, 2026, ranking 229th in the S&P 500.
What is EW's P/E ratio?
EW trades at a trailing price-to-earnings ratio of 53.0x and a forward P/E of 26.3x. Its median P/E over the period we track is 39.3x.
Does EW pay a dividend?
No. Edwards Lifesciences does not currently pay a regular cash dividend.
How much has EW stock returned?
Including reinvested dividends, EW returned +16.4% over one year, -5.2% a year over five years, +8.5% a year over ten years through October 23, 2026.
Is EW stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Edwards Lifesciences must grow free cash flow about 24% a year for the next decade. Its free cash flow grew 16% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the EW price target?
27 analysts cover EW with an average 12-month price target of $101.39, +14% from the current price. 77% of them rate it a buy.
When does EW report earnings?
Edwards Lifesciences is expected to report earnings on November 4, 2026. It has beaten EPS estimates 2 quarters in a row.
How many employees does Edwards Lifesciences have?
Edwards Lifesciences has about 16,000 full-time employees, or $407,019 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology