Income StatementBalance SheetCash FlowSegments
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Edwards Lifesciences Business Segments

Business, geographic, and product segment breakdowns

Edwards Lifesciences generates $6.3B in annual revenue across 4 key segments: Europe ($1.6B), Japan ($363.5M), Rest of World ($679.9M), and United States ($3.6B). The company-wide operating margin is 21.37%. Based on the Q1 2026 filing.

Europe (TTM)$1.6BJapan (TTM)$363.5MRest of World (TTM)$679.9MUnited States (TTM)$3.6B
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$46.9B
P/E Ratio42.75
ROE10.72%

Products & Services

Cost of Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Shipping and Handling$21.0M$18.2M$18.2M$18.2M$18.2M—

Net Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Transcatheter Aortic Valve Replacement$1.0B$1.0B$1.1B$1.1B$1.2B$1.2B
Surgical—$250.9M———$276.2M
Transcatheter Mitral and Tricuspid Therapies$105.1M$115.2M$134.5M$145.2M$155.7M$175.1M

Geographic

Carryforward amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International$6.0M———$0.0—

Carryforward Amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other countries$517.8M———$575.4M—

Deferred Tax Assets Operating Loss Carryforwards Net of Valuation Allowance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other countries$26.1M———$29.9M—

Long-lived Tangible Assets by Geographic Region

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other countries$534.6M———$654.9M—

Operating Loss Carryforwards, Valuation Allowance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other countries$63.2M———$74.6M—

Tax Benefit Amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other countries$89.3M———$104.5M—

Tax Credit Carryforward, Deferred Tax Asset, Net of Valuation Allowance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other countries$6.0M———$0.0—

Tax Credit Carryforward, Valuation Allowance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other countries$0.0———$0.0—

Business Segments

Adjustments to goodwill from acquisition

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Europe—$0.0$0.0$0.0$0.0—
Rest of World—$0.0$0.0$0.0$0.0—
United States—-$3.8M-$3.8M-$3.8M-$3.8M—

Cost of Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$133.9M$146.0M$167.5M$167.1M$139.7M$172.0M
Europe$78.4M$82.2M$84.8M$82.4M$90.7M$93.6M
Rest of World$38.4M$39.8M$43.9M$40.8M$46.1M$47.6M
Japan$12.0M$12.3M$13.6M$13.3M$13.2M$14.3M

Currency translation adjustment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Europe-$750.0K$1.8M$1.8M$1.8M$1.8M—
Rest of World$0.0$0.0$0.0$0.0$0.0—
United States$0.0$0.0$0.0$0.0$0.0—

Goodwill (Note 11)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Europe$55.2M———$62.2M—
Rest of World$581.6M———$581.6M—
United States$1.1B———$1.1B—

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$446.9M$559.1M$585.9M$599.5M$600.5M$610.7M
Europe$169.0M$194.5M$204.0M$206.6M$191.1M$235.3M
Rest of World$37.7M$77.5M$84.7M$82.0M$54.3M$89.7M
Japan$40.3M$57.7M$63.4M$59.8M$52.9M$66.4M

Net Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$643.8M$838.9M$889.7M$907.5M$907.0M$937.6M
Europe$308.7M$341.8M$378.2M$387.9M$409.6M$442.6M
Rest of World$86.1M$150.2M$169.0M$167.6M$165.5M$177.8M
Japan$47.9M$81.8M$95.3M$90.1M$87.5M$90.6M

Selling, general, and administrative expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States$138.8M$133.2M$135.7M$140.2M$166.2M$154.1M
Europe$75.3M$73.4M$74.2M$70.0M$97.4M$71.8M
Rest of World$50.3M$42.1M$48.3M$49.5M$69.7M$48.0M
Japan$21.8M$16.4M$18.5M$17.9M$25.7M$15.9M

Total other segment items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Europe$5.2M-$8.3M$15.2M$28.9M$30.4M$41.9M
Rest of World-$3.7M-$9.2M-$7.9M-$4.7M-$4.6M-$7.5M
Japan-$1.5M-$4.6M-$200.0K-$900.0K-$4.3M-$6.0M
United States$400.0K$600.0K$600.0K$700.0K$600.0K$800.0K