Edwards Lifesciences Corporation

EWNYSEHealthcare● Active

$85.59

$-0.37(-0.43%)

Market Cap$49.3B

P/E Ratio—

52W High$89.445

52W Low$72.3

Avg Volume5.1M

Open$88.24

Beta0.87

Free Cash Flow Financials Revenue

Edwards Lifesciences Corporation (EW) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

EW · free cash flow · updated Jun 8, 2026

Core FCF metrics

EW · FCF · TTM · margin & CAGR

Free cash flow was $1.33B for FY2025 (fiscal year ending 2025-12-31), up 360.5% year-over-year The FCF margin was 22.0%. Five-year CAGR stands at +15.6%.

FY2025 Free Cash Flow$1.33B▲ +360.5% YoY

Trailing 12M (TTM)$1.09Btrailing 4 quarters sum

FCF Margin22.0%$1.33B ÷ revenue

3-Year CAGR+11.9%FY2022 → FY2025

5-Year CAGR+15.6%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

EW · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.60B(260M)$1.33B▲ +360.5%22.0%

FY2024$542.3M(252M)$289.9M▼ 53.9%5.3%

FY2023$895.8M(266M)$629.5M▼ 34.0%12.6%

FY2022$1.22B(265M)$953.4M▼ 32.0%17.7%

FY2021$1.73B(330M)$1.40B▲ +116.7%26.8%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

EW · P/FCF · FCF yield · FCF per share

Edwards Lifesciences Corporation (EW) trades at a FCF yield of 2.20% and a price-to-free-cash-flow ratio of 46.0x. FCF per share stands at $1.86, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

2.20%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.86

TTM FCF ÷ Shares Outstanding

Price / FCF

x46.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x43.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

EW · cash flow statement · operating / investing / financing

For FY2025, Edwards Lifesciences Corporation generated $1.60B in operating cash flow and spent 260M in capital expenditures, yielding $1.33B in free cash flow.

Operating Activities

+$1.60B

Cash from core business operations

2025-12-31

Investing Activities

−$712.9M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$956.8M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.60B) − |CapEx| (260M) = FCF ($1.33B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

EW vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Edwards Lifesciences CorporationYOU

$1.33B+360.5%22.0%

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Edwards Lifesciences Corporation (EW) reported free cash flow of $1.33B for FY2025 (fiscal year ending 2025-12-31), up 360.5% year-over-year. The FCF margin was 22.0%.

Based on available data, Edwards Lifesciences Corporation has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $1.40B in FY2021. The 5-year CAGR stands at +15.6%.

Edwards Lifesciences Corporation's FCF yield is 2.20% and price-to-FCF ratio is 46.0x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

EW free cash flow · 8 questions

Edwards Lifesciences Corporation free cash flow was $1.33B for FY2025, up 360.5% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.09B.

EW free cash flowEW FCFEW FCF 2025EW free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Edwards Lifesciences Corporation · Edwards Lifesciences Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026