Upside case
Bull case
$191+119.2%
EW would need investors to value it at roughly 64x earnings — about 35x more generous than today's 29x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
Edwards Lifesciences Corporation (EW) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
48
analysts
32 bullish · 0 bearish · 48 covering EW
Strong Buy
0
Buy
32
Hold
16
Sell
0
Strong Sell
0
Consensus Target
$97
+10.5% vs today
Scenario Range
$92 – $191
Model bear to bull value window
Coverage
48
Published analyst ratings
Valuation Context
29.0x
Forward P/E · Market cap $50.4B
EW price targets
Three scenarios for where EW stock could go
Current
~$87
Confidence
56 / 100
Updated
Jun 18, 2026
Where we are now
Current · $87
Bear
$92
Base
$145
Bull
$191
Market caseClosest to today
Base case
$145+66.3%
At 48x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$92+4.8%
The bear case assumes sentiment or fundamentals disappoint enough to push EW down roughly 5% from the current price.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Edwards Lifesciences Corporation
EW · NYSEHealthcareMedical - DevicesDecember year-end
Edwards Lifesciences is a medical device company specializing in structural heart disease treatments and critical care monitoring. It generates revenue primarily from transcatheter heart valve replacement systems — its flagship TAVR products — along with surgical heart valves and critical care monitoring equipment. The company's moat comes from its deep expertise in structural heart disease, strong clinical evidence supporting its products, and first-mover advantage in transcatheter valve technologies.
Market Cap
$50.4B
Revenue TTM
$6.1B
Net Income TTM
$1.1B
Net Margin
17.6%
EW Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
75%Exceptional
12 quarters tracked
Revenue Beat Rate
83%Exceptional
vs consensus estimates
Avg EPS Surprise
+3.5%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 3 of 4Q3 2025
EPS
$0.67/$0.62
Revenue
$1.5B/$1.5B
Q4 2025
EPS
$0.67/$0.60
Revenue
$1.6B/$1.5B
Q1 2026
EPS
$0.58/$0.62
Revenue
$1.6B/$1.5B
Q2 2026
EPS
$0.78/$0.73
Revenue
$1.6B/$1.6B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.67/$0.62 | +7.4% | $1.5B/$1.5B | +3.0% |
| Q4 2025 | $0.67/$0.60 | +12.4% | $1.6B/$1.5B | +3.7% |
| Q1 2026 | $0.58/$0.62 | -6.1% | $1.6B/$1.5B | +1.5% |
| Q2 2026 | $0.78/$0.73 | +7.0% | $1.6B/$1.6B | +3.2% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$6.7B
+9.8% YoY
FY2
$7.4B
+10.4% YoY
EPS Outlook
FY1
$2.72
+47.9% YoY
FY2
$3.23
+18.7% YoY
Trailing FCF (TTM)$1.3B
FCF Margin: 22.0%
Next Earnings
July 23, 2026
Expected EPS
$0.73
Expected Revenue
$1.7B
EW beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
EW Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $6.1B
Product Mix
Latest annual revenue by segment or product family
Transcatheter Heart Valves
74.0%
+9.3% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
58.4%
+10.5% YoY
Tap, hover, or focus a slice to inspect segment detail.
Transcatheter Heart Valves is the largest disclosed segment at 74.0% of FY 2025 revenue, up 9.3% YoY.
UNITED STATES is the largest reported region at 58.4%, up 10.5% YoY.
EW Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Expensive versus peers
Fair value est. $46 — implies -47.0% from today's price.
Premium to Fair Value
47.0%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
EW
47.7x
vs
S&P 500
24.4x
+95% premium
vs Healthcare Trailing P/E
EW
47.7x
vs
Healthcare
22.1x
+116% premium
vs EW 5Y Avg P/E
Today
47.7x
vs
5Y Average
35.1x
+36% premium
Forward PE
29.0x
S&P 500
18.8x
+54%
Healthcare
18.3x
+59%
5Y Avg
—
—
Trailing PE
47.7x
S&P 500
24.4x
+95%
Healthcare
22.1x
+116%
5Y Avg
35.1x
+36%
PEG Ratio
6.74x
S&P 500
1.66x
+306%
Healthcare
1.59x
+324%
5Y Avg
—
—
EV/EBITDA
26.8x
S&P 500
15.2x
+77%
Healthcare
14.2x
+89%
5Y Avg
30.8x
-13%
Price/FCF
37.7x
S&P 500
20.7x
+82%
Healthcare
18.5x
+103%
5Y Avg
74.3x
-49%
Price/Sales
8.3x
S&P 500
3.1x
+168%
Healthcare
2.6x
+215%
5Y Avg
10.0x
-17%
Dividend Yield
—
S&P 500
1.91%
—
Healthcare
1.50%
—
5Y Avg
—
—
| Metric | EW | S&P 500 | Healthcare | 5Y Avg EW |
|---|---|---|---|---|
| Forward PE | 29.0x | 18.8x+54% | 18.3x+59% | — |
| Trailing PE | 47.7x | 24.4x+95% | 22.1x+116% | 35.1x+36% |
| PEG Ratio | 6.74x | 1.66x+306% | 1.59x+324% | — |
| EV/EBITDA | 26.8x | 15.2x+77% | 14.2x+89% | 30.8x-13% |
| Price/FCF | 37.7x | 20.7x+82% | 18.5x+103% | 74.3x-49% |
| Price/Sales | 8.3x | 3.1x+168% | 2.6x+215% | 10.0x-17% |
| Dividend Yield | — | 1.91% | 1.50% | — |
EW trades above S&P 500 benchmarks on 6 of 6 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolEW Financial Health
Verdict
Exceptional
EW generates $1.3B in free cash flow at a 22.0% margin — 15.5% ROIC signals a durable competitive advantage · returns 1.8% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$6.1B
Revenue Growth
TTM vs prior year
+11.2%
Gross Margin
Gross profit as a share of revenue
78.1%
Operating Margin
Operating income divided by revenue
26.7%
Net Margin
Net income divided by revenue
17.6%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$1.84
Free Cash Flow (TTM)
Cash generation after capex
$1.3B
FCF Margin
FCF as share of revenue — the primary cash quality signal
22.0%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
15.5%
ROA
Return on assets, trailing twelve months
8.0%
Cash & Equivalents
Liquid assets on the balance sheet
$2.9B
Net Cash
Cash exceeds total debt — no net leverage
$2.2B
Debt Serviceability
Net debt as a multiple of annual free cash flow
Net cash ✓
ROE
Return on equity, trailing twelve months
10.4%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
1.8%
Dividend
—
Buyback
1.8%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$893M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
577M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageEW Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 17, 2026
High Risk
Strategic focus risk
Divestiture of the stable Critical Care business leaves Edwards overly concentrated on structural heart disease, increasing reliance on a single market segment.
Medium
Margin pressure
Investors are concerned about tariff risks and potential margin pressures impacting future earnings, as hinted by the EPS guidance spread.
Medium
Market volatility
Profit-taking after strong trading days can lead to bearish stock movements, reflecting short-term volatility risks.
Lower
Operational diversification
The company's narrow focus post-divestiture may limit its ability to offset downturns in the structural heart disease market.
High Risk
Earnings uncertainty
Discrepancies in fair value estimates and investor expectations suggest uncertainty around future financial performance.
Medium
Regulatory and tariff risks
External factors like tariffs could negatively impact margins and profitability, as noted in earnings discussions.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why EW Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 17, 2026
Strong institutional positioning
Edwards Lifesciences benefits from strong institutional support, which bolsters investor confidence and stability.
Product approvals upside
Expected product approvals present significant growth potential, driving future revenue and market expansion.
Structural heart therapy growth
The company's leadership in structural heart therapies positions it for sustained growth in the medtech sector.
TAVR leadership
Edwards Lifesciences' dominance in Transcatheter Aortic Valve Replacement (TAVR) technology solidifies its market position and revenue streams.
TMTT expansion
The company's Transcatheter Mitral and Tricuspid Therapies (TMTT) segment offers significant expansion opportunities in underserved markets.
Strong margins
Edwards Lifesciences maintains robust profit margins, reflecting efficient operations and pricing power.
Strategic capital allocation
The company's disciplined approach to capital allocation supports long-term growth and shareholder value.
Innovative solutions
Edwards Lifesciences' focus on innovative medical solutions drives competitive advantage and market differentiation.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
EW Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$87.36
52W Range Position
87%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$72.30
+20.8% from the low
52-Week High
$89.60
-2.5% from the high
1 Month
+6.03%
3 Month
+5.75%
YTD
+2.4%
1 Year
+18.1%
3Y CAGR
-1.7%
5Y CAGR
-2.8%
10Y CAGR
+10.2%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
EW vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
29.0x
vs 13.5x median
+115% above peer median
Revenue Growth
+9.8%
vs +9.7% median
+1% above peer median
Net Margin
17.6%
vs 13.0% median
+36% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
EW EW Edwards Lifesciences Corporation | $50.4B | 29.0x | +9.8% | 17.6% | Buy | +10.5% |
MDT MDT Medtronic plc | $101.9B | 13.3x | +7.9% | 13.0% | Buy | +20.7% |
ABT ABT Abbott Laboratories | $153.7B | 16.1x | +9.9% | 31.9% | Buy | +44.2% |
BSX BSX Boston Scientific Corporation | $67.3B | 13.5x | +9.7% | 14.4% | Buy | +83.0% |
SYK SYK Stryker Corporation | $117.9B | 20.5x | +10.1% | 12.9% | Buy | +25.9% |
ZBH ZBH Zimmer Biomet Holdings, Inc. | $17.2B | 10.4x | +4.2% | 9.1% | Hold | +9.5% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
EW Dividend and Capital Return
EW returns 1.8% annually — null% through dividends and 1.8% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
1.8%
Dividend + buyback return per year
Buyback Yield
1.8%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$893M
Estimated Shares Retired
10M
Approx. Share Reduction
1.8%
Shares Outstanding
Current diluted share count from the screening snapshot
577M
At 1.8%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
FAQ
7 questionsEW Investor Questions
Common questions answered from live analyst data and company financials.
01Is Edwards Lifesciences Corporation (EW) stock a buy or sell in 2026?
Edwards Lifesciences Corporation (EW) is rated Buy by Wall Street analysts as of 2026. Of 48 analysts covering the stock, 32 rate it Buy or Strong Buy, 16 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $97, implying +10.5% from the current price of $87. The bear case scenario is $92 and the bull case is $191.
02What is the EW stock price target for 2026?
The Wall Street consensus price target for EW is $97 based on 48 analyst estimates. The high-end target is $110 (+25.9% from today), and the low-end target is $85 (-2.7%). The base case model target is $145.
03Is Edwards Lifesciences Corporation (EW) stock overvalued in 2026?
EW trades at 29.0x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals expensive versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Edwards Lifesciences Corporation (EW) stock in 2026?
The primary risks for EW in 2026 are: (1) Strategic focus risk — Divestiture of the stable Critical Care business leaves Edwards overly concentrated on structural heart disease, increasing reliance on a single market segment. (2) Earnings uncertainty — Discrepancies in fair value estimates and investor expectations suggest uncertainty around future financial performance. (3) Margin pressure — Investors are concerned about tariff risks and potential margin pressures impacting future earnings, as hinted by the EPS guidance spread. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Edwards Lifesciences Corporation's revenue and earnings forecast?
Analyst consensus estimates EW will report consensus revenue of $6.7B (+9.8% year-over-year) and EPS of $2.72 (+47.9% year-over-year) for the upcoming fiscal year. The following year, analysts project $7.4B in revenue.
06When does Edwards Lifesciences Corporation (EW) report its next earnings?
Edwards Lifesciences Corporation is expected to report its next earnings on approximately 2026-07-23. Consensus expects EPS of $0.73 and revenue of $1.7B. Over recent quarters, EW has beaten EPS estimates 75% of the time.
07How much free cash flow does Edwards Lifesciences Corporation generate?
Edwards Lifesciences Corporation (EW) generated $1.3B in free cash flow over the trailing twelve months — a free cash flow margin of 22.0%. EW returns capital to shareholders through and share repurchases ($893M TTM).