Edwards Lifesciences (EW) Q3 2025 10-Q Quarterly Report
Filed: Nov 5, 2025Period ending Sep 30, 2025
Health Care
Orthopedic, Prosthetic & Surgical Appliances & SuppliesSEC EDGAR Edwards Lifesciences (EW) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 5, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Edwards Lifesciences Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $1.55B for Q3 2025, up 14.7% YoY from $1.35B; nine-month revenue $4.50B, up 11.0% YoY from $4.05B
- • Gross profit rose YoY but gross margin declined due to forex and higher expenses; effective tax rate 16.1% vs 9.2% YoY for nine months
- • Best segment TMTT with 59.3% revenue growth Q3 ($145.2M vs $91.1M); worst Surgical with 7.5% growth Q3 ($258.0M vs $240.0M)
- • Operating cash flow $1.14B, up $474.5M YoY; share repurchases $845M in nine months; cash and equivalents $3.84B as of Q3 2025
- • Near-term headwinds include higher tax rate from Pillar Two global minimum tax, ongoing US IRS transfer pricing disputes, and tariff uncertainties
Risk Factors
- • No material changes to Risk Factors compared to 2024 10-K
- • Continued exposure to product liability risks in medical device industry
- • Ongoing regulatory compliance risks from FDA and international agencies
- • Market competition pressures from new valve technologies remain significant
- • Financial risks include foreign currency fluctuations impacting revenue and expenses
Edwards Lifesciences Q3 2025 Quarterly FinancialsXBRL
Revenue
$1.6B
▲ +17.6% YoY▲ +1.4% QoQ
Net Income
$291M
▼ -90.5% YoY▼ -12.6% QoQ
Gross Margin
77.8%
▼ -378bp YoY▲ +25bp QoQ
Operating Margin
19.8%
▼ -641bp YoY▼ -706bp QoQ
Net Margin
18.7%
▼ -21373bp YoY▼ -300bp QoQ
ROE
2.9%
Total Assets
$13.3B
EPS (Diluted)
$0.49
▼ -90.4% YoY▼ -14.0% QoQ
Operating Cash Flow
$574M
▲ +63.1% YoY▲ +97.7% QoQ
Source: XBRL data from Edwards Lifesciences Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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