Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.96B | $3.44B | $3.72B | $4.35B | $4.39B | $5.23B | $4.46B | $5.01B | $5.44B | $6.07B |
| Revenue growth | — | 15.9% | 8.4% | 16.8% | 0.9% | 19.3% | -14.7% | 12.2% | 8.6% | 11.5% |
| Gross profit | $2.17B | $2.56B | $2.78B | $3.23B | $3.31B | $3.98B | $3.74B | $4.03B | $4.32B | $4.73B |
| Gross margin | 73.1% | 74.5% | 74.8% | 74.4% | 75.4% | 76.1% | 83.8% | 80.5% | 79.5% | 78.0% |
| Operating income | $751M | $1.09B | $748M | $1.15B | $898M | $1.69B | $1.50B | $1.31B | $1.38B | $1.26B |
| Operating margin | 25.3% | 31.7% | 20.1% | 26.4% | 20.5% | 32.3% | 33.6% | 26.1% | 25.3% | 20.8% |
| Net income | — | — | — | — | — | $1.50B | $1.52B | $1.40B | $4.17B | $1.07B |
| Net margin | — | — | — | — | — | 28.7% | 34.1% | 28.0% | 76.7% | 17.7% |
| EPS (diluted) | $2.61 | $2.70 | $1.13 | $1.64 | $1.30 | $2.38 | $2.44 | $2.30 | $6.97 | $1.83 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $704M | $1.00B | $927M | $1.18B | $1.05B | $1.73B | $1.22B | $896M | $542M | $1.60B |
| Capital expenditures | $176M | $168M | $239M | $254M | $407M | $326M | $245M | $253M | $252M | $260M |
| Free cash flow | $528M | $833M | $688M | $929M | $647M | $1.41B | $974M | $643M | $290M | $1.33B |
| Share buybacks | $662M | $763M | $796M | $263M | $625M | $513M | $1.73B | $880M | $1.16B | $893M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $930M | $818M | $714M | $1.18B | $1.18B | $863M | $769M | $1.13B | $3.05B | $2.94B |
| Total assets | $4.51B | $5.67B | $5.32B | $6.49B | $7.24B | $8.50B | $8.29B | $9.36B | $13.1B | $13.7B |
| Total liabilities | — | — | — | — | $2.66B | $2.67B | $2.49B | $2.64B | $2.99B | $3.36B |
| Long-term debt | $822M | $438M | $594M | $594M | $595M | $596M | $596M | $597M | $598M | $598M |
| Shareholders' equity | $2.62B | $2.96B | $3.14B | $4.15B | $4.57B | $5.84B | $5.81B | $6.65B | $10.00B | $10.3B |
| Retained earnings | $3.91B | $1.96B | $2.69B | $3.74B | $4.57B | $6.07B | $7.59B | $8.99B | $13.2B | $14.2B |
| Shares (wtd avg diluted) | 218M | 216M | 641M | 637M | 632M | 631M | 624M | 609M | 599M | 586M |
Every figure is extracted from Edwards Lifesciences Corp’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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