Edwards Lifesciences Corp

NYSELarge CapHealthcare

13F Pro Quality Score

69.4/100

Rank #267 of 2,961 stocksTOP 10%

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Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

64.8/100

Profitability

64.4/100

Balance Sheet

78.6/100

Earnings Quality

79.4/100

Free Cash Flow

75.3/100

Institutional Flow

95.1/100

Revenue Scale

81.6/100

Dilution Risk

35.6/100

Price Chart

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What's Driving EW's Business? Latest 10-Q Breakdown

28/28 datapoints verified

AI-extracted from the 10-Q filed 2026-08-04 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Q2 net sales rose 13.6% to $1,741.0M, but net income fell to $241.4M as the effective tax rate jumped to 53.6% on a $188.2M valuation allowance.

Biggest Revenue Drivers

Transcatheter Aortic Valve Replacement (TAVR)$1,258.3M+11.3% YoY

Higher sales of the SAPIEN 3 Ultra RESILIA valve in the United States, Europe, and Japan

Surgical$284.1M+6.5% YoY

Higher sales of INSPIRIS RESILIA, MITRIS RESILIA, and KONECT RESILIA in the United States and Europe

Biggest Revenue Drivers

Total revenue: $1,741.0M+13.6% YoY

Transcatheter Aortic Valve Replacement (TAVR)$1,258.3M+11.3% YoY

Higher sales of the SAPIEN 3 Ultra RESILIA valve in the United States, Europe, and Japan

Surgical$284.1M+6.5% YoY

Higher sales of INSPIRIS RESILIA, MITRIS RESILIA, and KONECT RESILIA in the United States and Europe

Transcatheter Mitral and Tricuspid Therapies (TMTT)$198.6M+47.7% YoY

Higher sales of PASCAL, EVOQUE, and SAPIEN M3 systems in the United States and Europe

Largest Expense Items

Selling, general, and administrative expenses$561.2M

Higher headcount related expenses and commercial activities; currency added $6.0 million

Cost of sales$392.4M

Increased with sales growth; partially offset by lower manufacturing expenses

Research and development expenses$278.9M

Increased investments in implantable heart failure management and advanced technology innovation

Certain litigation expenses$6.3M

Legal proceedings, intellectual property litigation and tax litigation, down from $15.5 million

Margins: Gross profit rose to $1,348.6M on sales growth, but gross margin declined roughly 0.7 percentage points from foreign currency rate fluctuations, including hedge settlements, partly offset by lower manufacturing expenses.

Watch Items from the Filing

Effective tax rate was 53.6% versus 16.1% a year ago, chiefly a $188.2 million valuation allowance after California legislation limited research and development credit carryovers.
IRS Final NOPAs propose U.S. taxable income increases of $625.3M, $530.7M, and $683.6M for 2018-2020, with 40% transfer pricing penalties expected in Q3 2026.
Recorded a $40.0 million impairment in the quarter on a terminated VIE option agreement; year-to-date impairments total $163.6 million.
Japan segment net sales were $96.4 million, up only 1.1% year over year, versus 12.8% U.S. and 16.2% Europe growth.
No customer represented 10% or more of total net sales; company holds $2.9 billion cash and $1.5 billion remaining repurchase authorization.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →