Edwards Lifesciences (EW) 10-K Summaries & Annual Filing History
Review Edwards Lifesciences Corporation (EW) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
Edwards Lifesciences develops medical technologies for structural heart disease. For the latest fiscal year, the company reported higher revenue and operating income compared to the prior year.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$6.1B
Revenue reported for the fiscal year.
Operating income
$1.3B
Income from operations reported for the year.
Net income
$1.1B
Net income reported for the year.
Operating cash flow
$1.6B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2024 | $1.4B | +3.0% |
| Sep 30, 2024 | $1.4B | -1.1% |
| Dec 31, 2024 | $5.4B | +301.6% |
| Dec 31, 2025 | $6.1B | +11.5% |
Business overview
Edwards Lifesciences is focused on structural heart disease, including heart valve therapies and hemodynamic monitoring. The company operates in a highly regulated medical device industry and relies on innovation and clinical evidence to support its products. Its business is subject to risks such as regulatory changes, competition, and reliance on intellectual property.
Financial performance
Revenue reached over six billion dollars, and operating income exceeded one billion dollars. Net income also surpassed one billion dollars. Operating cash flow was over one and a half billion dollars, indicating strong cash generation from operations.
Material risks
The filing highlights risks including regulatory approvals and compliance, competition from new technologies, and the need to protect intellectual property. There are also risks related to the company's international operations and supply chain. Additionally, cybersecurity threats are identified as a material risk.
Liquidity and capital
The company maintains cash, cash equivalents, and short-term investments both in the U.S. and abroad, and has access to a multi-currency revolving credit facility. Management believes these resources are sufficient for working capital, capital expenditures, and other commitments.
What to watch
Investors should monitor the company's ability to repatriate foreign earnings and any associated tax costs as disclosed in the liquidity section.