Edwards Lifesciences vs Intuitive Surgical
Intuitive Surgical reported revenue of $10.1 billion in fiscal 2025, 1.7 times Edwards Lifesciences' $6.1 billion in fiscal 2025. Edwards Lifesciences' revenue grew 11.6% in its latest year, and Intuitive Surgical's grew 20.5%. Edwards Lifesciences had an operating margin of 20.8%, against 29.3% at Intuitive Surgical. Free cash flow was $1.3 billion at Edwards Lifesciences and $2.5 billion at Intuitive Surgical.
Side by side
| Edwards Lifesciences | Intuitive Surgical | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $6.1B | $10.1B |
| Revenue growth | 11.6% | 20.5% |
| Revenue growth a year, last 5 years | 6.7% | 18.2% |
| Gross margin | 78.0% | 66.0% |
| Operating margin | 20.8% | 29.3% |
| Net margin | 17.7% | 28.4% |
| Free cash flow | $1.3B | $2.5B |
| Free cash flow margin | 22.0% | 24.8% |
| Return on capital | 15.7% | 20.9% |
| Net debt to EBITDA | −2.5x | −1.7x |
| Dividends and buybacks | $893M | $2.3B |
| Change in diluted share count | −2.2% | 0.2% |
| Last close | $90.56 | $451.63 |
| P/E at the last close | 52.0× | 54.7× |
| Insider trades, last 12 months | sold $27.7 million | sold $72.8 million |
| Piotroski F-score | 5 of 9 | 5 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Edwards LifesciencesIntuitive Surgical
Operating margin
Percent of revenue
Edwards LifesciencesIntuitive Surgical
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Edwards LifesciencesIntuitive Surgical
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Edwards Lifesciences and Intuitive Surgical pages.