Edwards Lifesciences (EW) FY2023 results: revenue $5.0 billion, up 12.2% on the year
Edwards Lifesciences Corp. (EW) reported revenue of $5.0 billion for fiscal 2023, the year ended 31 December 2023, up 12.2% on the year before. Net income was $1.4 billion, down 7.9%, and diluted earnings per share $2.30. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2024.
Revenue
$5.0 billion
+12.2% on the year
FY2016FY2023
Operating margin
26.1%
33.6% a year earlier
FY2016FY2023
Net income
$1.4 billion
-7.9% on the year
FY2016FY2023
Diluted EPS
$2.30
-5.7% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
896
1,218
1,732
-26.5%
Capital expenditure
253
245
326
+3.4%
Free cash flow
643
974
1,406
-34.0%
Free cash flow margin
12.8%
21.8%
26.9%
Cash from investing
174
252
-1,722
-31.1%
Cash from financing
-711
-1,584
-356
Depreciation and amortisation
145
140
135
+3.8%
Share-based compensation
139
127
109
+9.9%
Buybacks
880
1,727
513
-49.1%
Diluted shares, weighted
609m
624m
631m
-2.4%
Shares outstanding at period end
601m
608m
624m
-1.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
6,650
5,807
5,836
+14.5%
Non-controlling interest
69.4
0.0
n/a
Debt
597
596
596
+0.1%
Operating lease liabilities
65.2
69.5
69.1
-6.2%
Other liabilities
1,982
1,820
2,002
+8.9%
Total liabilities and equity
9,363
8,292
8,503
+12.9%
Fixed assets
1,591
1,633
1,547
-2.6%
Goodwill
1,145
1,065
1,168
+7.5%
Intangible assets
399
285
324
+40.0%
Investments
1,084
1,685
2,438
-35.7%
Cash and equivalents
1,132
769
863
+47.2%
Receivables
772
643
582
+20.0%
Inventory
904
876
727
+3.2%
Other assets
2,336
1,337
855
+74.7%
Total assets
9,363
8,292
8,503
+12.9%
10-K for the year ended 31 December 2023, filed 12 February 2024: the filing.