Filing Flows › Edwards Lifesciences (EW) › Q3 2026 › vs Q3 2025
Edwards Lifesciences (EW) Q3 2026 vs Q3 2025 (year over year)
Edwards Lifesciences's revenue rose $162M (+10%) from $1.6B in Q3 2025 to $1.7B in Q3 2026. The biggest changes: Transcatheter Aortic Valve Replacement +$91.7M (+8%); Transcatheter Mitral and Tricuspid Therapies +$64.3M (+44%); Surgical +$6.4M (+2%). Gross margin 78.5% against 77.8% (+0.7 pts).
Edwards Lifesciences, Q3 2026: revenue $1.7B (+10% year over year), operating margin 17.4%, net earnings $308M, operating cash flow $570M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 78.5% | 77.8% | +0.7 pts |
| Operating margin | 17.4% | 19.8% | -2.3 pts |
| Net margin | 17.9% | 18.7% | -0.8 pts |
| Free cash flow margin | 29.5% | 33.2% | -3.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Transcatheter Aortic Valve Replacement | $1.2B | $1.1B | $91.7M | +8% |
| Surgical | $264M | $258M | $6.4M | +2% |
| Transcatheter Mitral and Tricuspid Therapies | $210M | $145M | $64.3M | +44% |
| Revenue | $1.7B | $1.6B | $162M | +10% |
| Gross profit | $1.3B | $1.2B | $138M | +11% |
| Cost of revenue | $369M | $345M | $24.0M | +7% |
| Other income, net | $64.1M | $39.3M | $24.8M | +63% |
| Operating profit | $299M | $307M | −$8.0M | -3% |
| Operating expenses | $1.0B | $901M | $146M | +16% |
| Pre-tax earnings | $363M | $346M | $16.8M | +5% |
| Research & development | $281M | $281M | $700K | +0.2% |
| SG&A | $561M | $515M | $46.3M | +9% |
| Other operating costs | $205M | $106M | $99.4M | +94% |
| Loss borne by minority interests | $6.1M | $800K | $5.3M | +662% |
| Net earnings | $308M | $291M | $16.4M | +6% |
| Income tax | $61.8M | $56.1M | $5.7M | +10% |
| Depreciation & amortization | $44.9M | $39.2M | $5.7M | +15% |
| Share-based compensation | $46.0M | $41.2M | $4.8M | +12% |
| Working capital & other | $172M | $202M | −$30.3M | -15% |
| Operating cash flow | $570M | $574M | −$3.4M | -0.6% |
| Free cash flow (OCF − capex) | $507M | $516M | −$9.5M | -2% |
| Capital expenditures | $63.6M | $57.5M | $6.1M | +11% |
Questions
How much did Edwards Lifesciences's revenue grow year over year in Q3 2026?
Edwards Lifesciences's revenue rose $162M (+10%) from $1.6B in Q3 2025 to $1.7B in Q3 2026.
What drove Edwards Lifesciences's revenue change in Q3 2026?
Transcatheter Aortic Valve Replacement +$91.7M (+8%); Transcatheter Mitral and Tricuspid Therapies +$64.3M (+44%); Surgical +$6.4M (+2%).