Market capitalisation
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Share price multiplied by shares outstanding. It does not measure company cash.
Company analysis·EW
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NYSE·EW
Edwards Lifesciences Corporation
Share price$102.78Price as of: Nov 9, 2026
Edwards Lifesciences Corporation (EW) is a company listed on NYSE, classified under Medical - Devices.
Edwards Lifesciences develops medical technologies for structural heart disease and advanced critical care patient monitoring.
Revenue · FY 2025
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Sales generated during the period, before costs and expenses.
Net margin · FY 2025
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Net income as a proportion of revenue.
“Our take” and other explanations are generated with artificial intelligence from the data, without human review of each text. They are descriptive, not recommendations. Learn more
Explore questions
P1 · What does it do and how does it make money?
Of every $100 it takes in,74 come from Transcatheter Heart Valves.
Transcatheter Heart Valves is its largest source of revenue (74.0%), followed by Surgical Heart Valve Therapy (17.0%). Here you will see what it sells, where, and how that mix is changing.
$6,068mrevenue in FY 2025
3business lines with data
58%of sales, in UNITED STATES
Full fiscal year ended Dec 31, 2025
After that close
Q3 2026, ended Sep 30, 2026: total revenue +10.5% against the same quarter a year earlier.
This is the revenue of the whole company. The split by lines and regions on this page is still that of the full fiscal year.01How it makes money
The data does not separate products from services.
Not all revenue behaves the same way. A one-off sale depends on someone buying again; a service is billed again and again while the customer stays.
Its business lines · FY 2025
02Where revenue comes from
A single line brings in half or more.
Each rectangle is a business line and its size is the share of revenue it brings in. Select one to see the detail.
Area = share of total revenue for the year. It does not show profit: the company does not report what each line earns.
What is a segment's weight?
The part of everything the company takes in that comes from that line. If a line weighs 49%, then of every 100 in sales, 49 come from it.
How to read it
The more a line weighs, the more revenue depends on it. A high weight is neither good nor bad by itself: it shows where to look first.
03Where sales come from
It depends on one main market.
UNITED STATES is its largest market, with 58.4% of sales. Each square is a region and its area is what it sells there.
Regions from largest to smallest · FY 2025
04How the mix is changing
Transcatheter Mitral And Tricuspid Therapies is gaining weight.
Weight of each part in 2024 and in 2025. A line gains weight when it grows faster than the total.
FY 2024FY 2025
pp = percentage points: the difference between two percentages (from 25% to 27% is 2 pp).
05Read with care
What we can deduce from the data. And what we cannot.
We can deduceWe cannot conclude
01
Though Transcatheter Heart Valves still dominates (74.0%), it accounted for only 60.8% of revenue growth, as Mitral & Tricuspid Therapies surged (+56.4%, 31.6% of the increase).
That Transcatheter Heart Valves lost strategic importance: it is still much larger, and if its margins are higher, the company may remain reliant on this line.
02
US share slipped (58.4% of sales, just 53.7% of the increase). Europe, smaller, contributed disproportionately to growth (31.2%, grew +14.8%) compared to 2024.
That Europe will soon overtake the US as main market: the sales gap between them remains very large.
03
Despite gains in other lines and regions, the business remains concentrated: without Transcatheter Heart Valves, total growth would have been only 18.5%. True diversification is still limited.
That growth so far ensures less risk for the company: as long as concentration remains, a change in the main line will have clear impact.
04
Profitability fell in FY 2025 despite growth: net margin dropped from 76.7% to 17.7%, but without breakdown, cannot tell which lines or markets drove it.
Whether gains in smaller lines or Europe offset the main line's margin: without line or region margins, their effect cannot be concluded.
Our take
In 2025 Edwards Lifesciences still depends mainly on Transcatheter Heart Valves and the US, though both lose share as other lines and Europe grow faster.
- 01Shown by the figures
Still depends on a single line
Transcatheter Heart Valves still makes up the bulk of sales and growth, though its share slips and other lines excel in relative growth. The impact of smaller lines is limited by size—so diversification, though improving, remains low.
- 02Shown by the figures
Europe grows more, but US remains the core
Europe's growth outpaces the US and its contribution exceeds its weight, but the main revenue source is still the US. Without a smaller volume gap, geographic dependence stays centered on the US.
- 03Our interpretation
Margin falls but which segment is unknown
Although profitability dropped sharply in FY 2025, there is no margin detail by line or region. It is not possible to know what part of the business pulled or offset the net margin.
What is not proven
Do margins vary widely between lines or regions? If the smaller lines are more profitable per sale, further diversification would matter more than if differences are small.
See the calculations behind it
- Transcatheter Heart Valves brought $381.6M of the $628.1M by which revenue grew in FY 2025 (60.8%), although it weighed 75.5%. Without that line, the rest grew 18.5%.
- Dependence on Transcatheter Heart Valves falls: from 75.5% of revenue in FY 2024 to 74.0% in FY 2025.
- United States brings 58.4% of sales (58.9% in FY 2024). The fastest-growing region is Europe: +14.8% against +11.5% overall.
- Transcatheter Heart Valves accounts for 60.8% of the change in revenue in FY 2025 and weighed 75.5%.
- Transcatheter Heart Valves weighs more than all the other lines together: 74.0% of revenue in FY 2025.
- Europe brought 31.2% of the growth in sales by region in FY 2025, weighing 24.3%.
With data to Nov 4, 2026. Analysis written by a language model from our calculations, which supply every figure. It is not investment advice.
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