Edwards Lifesciences Corp (EW) closed fiscal year 2025 with a gross margin of 78.0 % and a net margin of 17.7 %.
Edwards Lifesciences Corp (EW) closed fiscal year 2025 with a gross margin of 78.0 % and a net margin of 17.7 %. The same year shows an EBITDA margin of 23.4 % and an EBIT margin of 20.8 %. The free cash flow margin was 22.0 %. Against the previous year the gross margin moved −1.4 pp and the net margin −59.1 pp. Across the period the gross margin ranges between 66.1 % in 2008 and 83.8 % in 2022. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 66.10 % | 69.80 % | 71.78 % | 70.82 % | 74.15 % | 74.74 % | 73.07 % | 75.25 % | 73.09 % | 74.52 % | 74.77 % | 74.37 % | 75.36 % | 76.13 % | 83.79 % | 80.47 % | 79.46 % | 78.01 % |
| EBITDA margin (%) | 18.40 % | 27.20 % | 21.88 % | 20.06 % | — | — | — | — | 27.75 % | 34.10 % | 22.18 % | 28.43 % | 22.91 % | 34.88 % | 36.69 % | 29.02 % | 28.20 % | 23.42 % |
| EBIT margin (%) | 13.90 % | 22.76 % | 17.98 % | 16.61 % | — | — | — | — | 25.35 % | 31.71 % | 20.10 % | 26.38 % | 20.46 % | 32.30 % | 33.57 % | 26.13 % | 25.35 % | 20.84 % |
| Net margin (%) | 10.41 % | 17.34 % | 15.07 % | 14.10 % | 15.35 % | 19.02 % | 34.92 % | 19.85 % | 19.22 % | 16.99 % | 19.40 % | 24.08 % | 18.77 % | 28.73 % | 34.09 % | 27.99 % | 76.75 % | 17.69 % |
| FCF margin (%) | 8.29 % | 7.67 % | 13.10 % | 13.80 % | 13.32 % | 17.78 % | 40.44 % | 17.93 % | 17.83 % | 24.24 % | 18.48 % | 21.35 % | 14.76 % | 26.88 % | 21.81 % | 12.83 % | 5.33 % | 22.00 % |
