Projected Income Statement: Edwards Lifesciences Corporation

Forecast Balance Sheet: Edwards Lifesciences Corporation

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -267 -173 -1,048 -3,378 -3,628 -3,482 -5,073 -6,915
Change - 35.21% -505.78% -222.33% -7.4% 4.02% -45.69% -36.31%
Announcement Date 26/1/22 31/1/23 6/2/24 11/2/25 10/2/26 - - -
1USD in Million
Estimates

Cash Flow Forecast: Edwards Lifesciences Corporation

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 325.8 244.6 253 252.4 260.2 296.5 312.8 322.9
Change - -24.92% 3.43% -0.24% 3.09% 13.94% 5.52% 3.21%
Free Cash Flow (FCF) 1 1,406 973.6 943 289.9 1,335 1,363 1,694 1,934
Change - -30.77% -3.14% -69.26% 360.5% 2.07% 24.31% 14.17%
Announcement Date 26/1/22 31/1/23 6/2/24 11/2/25 10/2/26 - - -
1USD in Million
Estimates

Forecast Financial Ratios: Edwards Lifesciences Corporation

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 33.05% 35.97% 31.29% 30.7% 29.67% 31.46% 32.01% 32.93%
EBIT Margin (%) 30.47% 33.38% 28.87% 27.84% 27.09% 29.03% 29.62% 30.27%
EBT Margin (%) 32.53% 32.84% 26.61% 28.46% 20.98% 29.24% 30.51% 31.24%
Net margin (%) 28.73% 28.28% 23.35% 76.75% 17.69% 24.08% 25.52% 25.96%
FCF margin (%) 26.88% 18.09% 15.7% 5.33% 22% 20.2% 22.86% 23.74%
FCF / Net Income (%) 93.56% 63.97% 67.24% 6.94% 124.36% 83.9% 89.58% 91.45%

Profitability

        
ROA 17.84% 18.46% 15.89% 12.98% 11.2% 11.36% 11.54% 11.85%
ROE 26.97% 26.64% 22.52% 17.48% 14.73% 15.99% 16.45% 17.55%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 6.23% 4.54% 4.21% 4.64% 4.29% 4.39% 4.22% 3.96%
CAPEX / EBITDA (%) 18.84% 12.63% 13.47% 15.12% 14.45% 13.97% 13.19% 12.04%
CAPEX / FCF (%) 23.17% 25.12% 26.83% 87.06% 19.49% 21.76% 18.47% 16.69%

Items per share

        
Cash flow per share 1 2.74 1.952 1.47 0.9049 2.723 2.978 3.137 4.004
Change - -28.76% -24.69% -38.44% 200.93% 9.35% 5.36% 27.61%
Dividend per Share 1 - - - - - - - -
Change - - - - - - - -
Book Value Per Share 1 9.351 9.546 10.91 16.99 17.8 19.01 20.93 21.9
Change - 2.09% 14.31% 55.66% 4.8% 6.77% 10.13% 4.62%
EPS 1 2.38 2.44 2.3 6.97 1.83 2.804 3.273 3.671
Change - 2.52% -5.74% 203.04% -73.74% 53.25% 16.7% 12.16%
Nbr of stocks (in thousands) 624,334 618,260 606,500 589,800 580,300 575,800 575,800 575,800
Announcement Date 26/1/22 31/1/23 6/2/24 11/2/25 10/2/26 - - -
1USD
Estimates
2026 *2027 *
P/E Ratio 30.3x 26x
PBR 4.48x 4.07x
EV / Sales 6.75x 5.93x
Yield - -

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
29
Last Close Price
85.11USD
Average target price
96.92USD
Spread / Average Target
+13.88%

Quarterly revenue - Rate of surprise

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