EDWARDS LIFESCIENCES CORPORATION FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$6.1B
Gross margin	78.0%
Operating income	$1.3B
Net income	$1.1B
Diluted EPS	$1.83
Cash & equivalents	$2.9B
Total assets	$13.7B
Long-term debt	$598.3M

Key takeaway

TAVR remained the dominant business at 74% of net sales in 2025, though its share has been declining from 77% in 2023 as TMTT grows.

🔒 4 more takeaways in the full analysis

Beneath the surface

Cash and equivalents of $2.94 billion plus available-for-sale debt securities of $1.30 billion total roughly $4.24 billion in liquid assets against only $598.3 million in long-term debt, implying a substantial net cash position not obvious from the debt figure alone.

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