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Smith & Nephew vs Edwards Lifesciences: SNN and EW compared
Smith & Nephew is the larger company: $3.1B of revenue in its latest quarter (H1 2026) against $1.7B for Edwards Lifesciences (Q3 2026). Edwards Lifesciences is growing faster (+10% against +5% a year earlier). Edwards Lifesciences is more profitable, with an operating margin of 17.4% against 14.5%.
Where the money goes: SNN and EW
Smith & Nephew (SNN) · H1 2026
Smith & Nephew, H1 2026: revenue $3.1B (+5% year over year), operating margin 14.5%, net earnings $303M, operating cash flow $450M. The chart follows the revenue to costs, profit and cash.
Edwards Lifesciences (EW) · Q3 2026
Edwards Lifesciences, Q3 2026: revenue $1.7B (+10% year over year), operating margin 17.4%, net earnings $308M, operating cash flow $570M. The chart follows the revenue to costs, profit and cash.
| Smith & Nephew (SNN) | Edwards Lifesciences (EW) | |
|---|---|---|
| Latest quarter | H1 2026 | Q3 2026 |
| Revenue | $3.1B | $1.7B |
| Revenue growth, Y/Y | +5% | +10% |
| Gross margin | 70.9% | 78.5% |
| Operating margin | 14.5% | 17.4% |
| Net earnings | $303M | $308M |
| Net margin | 9.8% | 17.9% |
| Operating cash flow | $450M | $570M |
| Free cash flow | — | $507M |
| Market value | — | $58.6B |
| P/E | — | 57.3× |
| Analysts’ mean target | — | $111.64 |
Where the revenue comes from
Edwards Lifesciences
- Transcatheter Aortic Valve Replacement: $1.2B (72%)
- Surgical: $264M (15%)
- Transcatheter Mitral and Tricuspid Therapies: $210M (12%)
Questions
Which is bigger, Smith & Nephew or Edwards Lifesciences?
Smith & Nephew is the larger company: $3.1B of revenue in its latest quarter (H1 2026) against $1.7B for Edwards Lifesciences (Q3 2026).
Is Smith & Nephew or Edwards Lifesciences growing faster?
Edwards Lifesciences is growing faster (+10% against +5% a year earlier).
Which is more profitable, Smith & Nephew or Edwards Lifesciences?
Edwards Lifesciences is more profitable, with an operating margin of 17.4% against 14.5%.
More: Smith & Nephew earnings · how Smith & Nephew makes money · Edwards Lifesciences earnings · how Edwards Lifesciences makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Aug 14, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.