Touchstone
Last syncOct 31, 2026, 6:54 PM ET

EW

Edwards Lifesciences Corp Health Care Orthopedic, Prosthetic & Surgical Appliances & Supplies S&P 500Russell 3000
$92.01Close $53.4BMarket cap $75.87 – $95.1852-week range Nov 4, 2026Next report · after the close

Highlights

Strengths

  • Near its high 3% below its 52-week high

Cautions

  • Trend not confirmed 6 of 8 conditions · under 30% off the low, RS under 70
  • Earnings shrinking EPS −26% year on year
  • Results soon Nov 4, 2026, in 3 days

Price

Filing Results Screen pick 52-week high and low Adjusted prices

Key figures

FY to Dec 31, 2025 · filed Aug 4, 2026
Off 12-month high 3%
1wk up 3.3% price change
1mo up 6.6% price change
12-month return up 10% market up 11% · its own 0%
F-score 5 / 9 Mixed
Altman Z 12.18 Low risk
P/E 49.8× price / earnings
PEG — P/E / EPS growth
P/B 5.2× price / book
Earnings yield up 2.5% EBIT / enterprise value
Cheaper than 38% of the market · expensive
Revenue growth up 12% year on year
EPS growth down 26% latest quarter · -34 pts
Sales growth up 14% latest quarter · -3 pts
ROE up 11% return on equity
Free cash margin up 22% $1.3B FCF
D/E 0.06 long-term debt / equity
Net debt / EBITDA -1.6× net cash
Interest cover 62.0×EBIT / interest
Piotroski tests
  • profitability slipped from last year
  • short-term liquidity weakened
  • gross margin narrowed
  • assets working less efficiently
  • profitable on its assets
  • generating cash from operations
  • profits backed by cash
  • reduced long-term debt
  • no new shares issued

Trade setup

ATR% 2.4% $2.20 a day · 2×ATR $87.60
RS 59 / 99 vs the universe
Trend 6 / 8 under 30% off the low, RS under 70
Relative volume 1.8× vs 50-day average
Up/down volume 1.26 50 sessions
Implied move 9.6% by Nov 20, 2026 · report Nov 4, 2026
Trend template · 6 of 8
  • At least 30% above the 52-week low: fails
  • RS rank 70 or higher: fails

Screen verdict

Did not qualify for any screen.

Warning signs

1 flagged
  • Gross margin narrowing Gross margin fell from 79.5% to 78.0%. The company is keeping less of each dollar of sales than it did a year ago.
Last reported Jul 23, 2026
Options $4.6M43.6% IV · activity

Financials

6 fiscal years · from filings
Revenue What customers paid the company over its fiscal year, before any cost, as filed in its annual report. The change is against the year before. Methodology $6.1B +12% on FY2024
$0 $10B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $4.4B FY2021 · $5.2B FY2022 · $4.5B FY2023 · $5.0B FY2024 · $5.4B FY2025 · $6.1B
Net income Profit left after every cost, interest and tax for the year. A column below the line is a loss. Methodology $1.1B -74% on FY2024
$0 $5B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 FY2021 · $1.5B FY2022 · $1.5B FY2023 · $1.4B FY2024 · $4.2B FY2025 · $1.1B
Free cash flow Cash from running the business less what it spent on equipment and buildings: the cash a year actually left behind, which profit alone does not show. Not shown for banks and insurers, whose cash moves with their loans. Methodology $1.3B +361% on FY2024
$0 $2B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $647.3M FY2021 · $1.4B FY2022 · $973.6M FY2023 · $642.8M FY2024 · $289.9M FY2025 · $1.3B
Margins Each as a share of revenue. Gross: left after the direct cost of what was sold. Net: left after every cost. Free cash: free cash flow over revenue. A margin rising over years means the business keeps more of each dollar it sells. Methodology
  • Gross 78%
  • Net 18%
  • Free cash 22%
0% 100% FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Gross 75% · Free cash 15% FY2021 · Gross 76% · Net 29% · Free cash 27% FY2022 · Gross 84% · Net 34% · Free cash 22% FY2023 · Gross 80% · Net 28% · Free cash 13% FY2024 · Gross 79% · Net 77% · Free cash 5% FY2025 · Gross 78% · Net 18% · Free cash 22%
Cash and long-term debt Cash on the balance sheet at the year's end beside debt due after a year. Net cash is cash less that debt; net debt is the shortfall. Debt some filers do not tag shows as a gap, not as zero. Methodology $2.3B net cash
  • Cash
  • Long-term debt
$0 $5B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Cash $1.2B · Long-term debt $595.0M FY2021 · Cash $862.8M · Long-term debt $595.7M FY2022 · Cash $769.0M · Long-term debt $596.3M FY2023 · Cash $1.1B · Long-term debt $597.0M FY2024 · Cash $3.0B · Long-term debt $597.7M FY2025 · Cash $2.9B · Long-term debt $598.3M
Shares outstanding Shares in issue at the year's end. A rising count means each share owns a smaller slice of the company (stock pay, share sales); a falling one, buybacks. The chart's scale is fitted to the count, so a small change looks large: read the percentage. Methodology 580.70m -7.0% since FY2020
624.30m 580.70m FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · 624.30m FY2021 · 624.10m FY2022 · 608.30m FY2023 · 601.10m FY2024 · 588.60m FY2025 · 580.70m
  FY2020Dec 31, 2020 FY2021Dec 31, 2021 FY2022Dec 31, 2022 FY2023Dec 31, 2023 FY2024Dec 31, 2024 FY2025Dec 31, 2025
Revenue $4.4B $5.2B $4.5B $5.0B $5.4B $6.1B
Gross margin 75% 76% 84% 80% 79% 78%
Operating income $897.6M $1.7B $1.5B $1.3B $1.4B $1.3B
Net income — $1.5B $1.5B $1.4B $4.2B $1.1B
Net margin — 29% 34% 28% 77% 18%
Earnings per share — $2.38 $2.44 $2.30 $6.97 $1.83
Free cash flow $647.3M $1.4B $973.6M $642.8M $289.9M $1.3B
Free cash margin 15% 27% 22% 13% 5% 22%
Cash $1.2B $862.8M $769.0M $1.1B $3.0B $2.9B
Long-term debt $595.0M $595.7M $596.3M $597.0M $597.7M $598.3M
Shareholders' equity $4.6B $5.8B $5.8B $6.7B $10.0B $10.3B
Shares outstanding 624.30m 624.10m 608.30m 601.10m 588.60m 580.70m

Next report

Nov 4, 2026 · after the close

Expected move The move, either way, the option market prices in through the next scheduled report: the at-the-money straddle for the first expiry that contains it, over the price. It includes the days around the report, so it slightly overstates the report alone. Methodology ±9.6% $83 – $101 by Nov 20, 2026
Usual move The median, over the company's last four reports, of how far the stock moved either way from the close before the filing to the close of the session after it. Methodology ±2.6% last 4: -2.1% · +3.2% · +3.3% · -0.3%
Expected against usual The move the options price through this report over the move the last four reports delivered. Above 1 the event is priced bigger than the company's own record; below 1, smaller. A price, not a forecast: it says what protection through the report costs, not which way the stock will go. Methodology Bigger than usual 3.6× the usual move

What options price now

Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
Bigger 43.6% priced · 24.9% recent
Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
Choppier
Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
past week: costs more
Positioning
Premium traded
$4.6M calls $4.3M · puts $263,682 · latest session
Puts against calls, by premium Money spent on puts divided by money spent on calls. Measured in dollars rather than contracts on purpose: counting contracts treats a hundred cheap lottery tickets as more meaningful than one large position, which is backwards. Methodology
0.06× -0.44 over the week
Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
calls +2.18k · puts +615 past week

For options traders: ATM IV 43.6% (+5.9% 1w) · 1m ÷ 3m IV 1.35 · 25Δ skew 4.3 pts · Net GEX $3.0M

Most traded contracts

No contract passed the liquidity filters this week.

Filings

SEC EDGAR
FiledReportPeriod to Lag
Aug 4, 2026 Quarterly ↗ Jun 30, 2026 35d
May 6, 2026 Quarterly ↗ Mar 31, 2026 36d
Feb 25, 2026 Annual ↗ Dec 31, 2025 56d
Nov 5, 2025 Quarterly ↗ Sep 30, 2025 36d
Aug 6, 2025 Quarterly ↗ Jun 30, 2025 37d
May 6, 2025 Quarterly ↗ Mar 31, 2025 36d
Feb 28, 2025 Annual ↗ Dec 31, 2024 59d
Nov 6, 2024 Quarterly ↗ Sep 30, 2024 37d
Jul 31, 2024 Quarterly ↗ Jun 30, 2024 31d
Apr 29, 2024 Quarterly ↗ Mar 31, 2024 29d
Feb 12, 2024 Annual ↗ Dec 31, 2023 43d
Oct 27, 2023 Quarterly ↗ Sep 30, 2023 27d

Current reports

FiledDisclosed
Aug 28, 2026 Director or officer change ↗
Jul 23, 2026 Results ↗
May 8, 2026 Director or officer change · Shareholder vote ↗
May 4, 2026 Director or officer change · Regulation FD ↗
Apr 23, 2026 Results ↗
Feb 10, 2026 Results ↗
Jan 12, 2026 Regulation FD ↗
Oct 30, 2025 Director or officer change · Regulation FD ↗
Oct 30, 2025 Results ↗
Aug 19, 2025 Other events ↗
Aug 6, 2025 Regulation FD ↗
Jul 25, 2025 Director or officer change ↗