Stock Analysis on Net
Stock Analysis on Net

Edwards Lifesciences Corp. (NYSE:EW)

This company has been moved to the archive! The financial data has not been updated since February 14, 2022.

Debt to Equity
since 2005

Microsoft Excel

Calculation

Edwards Lifesciences Corp., debt to equity, long-term trends, calculation

Microsoft Excel
Debt to equity = Total debt1 ÷ Stockholders’ equity1
Dec 31, 2021 0.10 = 595,700 ÷ 5,835,900
Dec 31, 2020 0.13 = 595,000 ÷ 4,574,300
Dec 31, 2019 0.14 = 594,400 ÷ 4,148,300
Dec 31, 2018 0.19 = 593,800 ÷ 3,140,400
Dec 31, 2017 0.35 = 1,036,400 ÷ 2,956,200
Dec 31, 2016 0.31 = 822,300 ÷ 2,619,000
Dec 31, 2015 0.24 = 599,900 ÷ 2,503,100
Dec 31, 2014 0.27 = 598,100 ÷ 2,191,400
Dec 31, 2013 0.38 = 593,100 ÷ 1,559,200
Dec 31, 2012 0.13 = 189,300 ÷ 1,479,300
Dec 31, 2011 0.11 = 150,400 ÷ 1,337,900
Dec 31, 2010 0.03 = 41,800 ÷ 1,308,200
Dec 31, 2009 0.08 = 90,300 ÷ 1,157,900
Dec 31, 2008 0.20 = 175,500 ÷ 878,800
Dec 31, 2007 0.25 = 211,700 ÷ 835,000
Dec 31, 2006 0.31 = 235,900 ÷ 749,400
Dec 31, 2005 0.46 = 316,100 ÷ 690,000

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in thousands

The financial trajectory from 2005 to 2021 reveals a strategic evolution in capital structure, characterized by a consistent expansion of stockholders' equity and fluctuating levels of total debt. While the company maintained a conservative leverage profile for much of the period, specific phases of debt accumulation were offset by aggressive equity growth, resulting in a long-term decline in the debt-to-equity ratio.

Stockholders' Equity Growth
A continuous and significant upward trend in stockholders' equity is observed throughout the analyzed period. Equity grew from 690 million USD in 2005 to approximately 5.84 billion USD by 2021. This sustained growth indicates a strong accumulation of retained earnings or capital contributions, which has substantially increased the company's internal funding capacity and strengthened its balance sheet.
Total Debt Volatility
Total debt exhibited three distinct phases. From 2005 to 2010, debt was aggressively reduced from 316.1 million USD to a low of 41.8 million USD. This was followed by a period of expansion between 2011 and 2017, where debt peaked at 1.04 billion USD in 2017. Since 2018, debt levels have stabilized, remaining relatively constant at approximately 594 million to 596 million USD through 2021.
Debt to Equity Ratio Analysis
The debt-to-equity ratio reflects the interaction between the aforementioned trends. The ratio declined sharply from 0.46 in 2005 to a period low of 0.03 in 2010. A subsequent increase occurred between 2011 and 2017, reaching a secondary peak of 0.38 in 2013 and 0.35 in 2017, coinciding with the rise in total debt. However, in the final four years of the period, the ratio trended downward again, ending at 0.10 in 2021, driven primarily by the continued growth of equity against a stabilized debt load.

Overall, the data indicates a transition toward a highly equity-funded capital structure. The reduction of the debt-to-equity ratio to 0.10 by 2021 suggests a low reliance on external borrowed funds relative to shareholder investment, reflecting a conservative financial risk profile.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?

Comparison to Competitors

Edwards Lifesciences Corp., debt to equity, long-term trends, comparison to competitors

Microsoft Excel
Edwards Lifesciences Corp. Abbott Laboratories Elevance Health Inc. Intuitive Surgical Inc. Medtronic PLC UnitedHealth Group Inc.
Dec 31, 2021 0.10 0.50 0.64 0.00 0.51 0.64
Dec 31, 2020 0.13 0.57 0.60 0.00 0.49 0.66
Dec 31, 2019 0.14 0.58 0.63 0.00 0.51 0.71
Dec 31, 2018 0.19 0.64 0.67 0.00 0.51 0.71
Dec 31, 2017 0.35 0.90 0.75 0.00 0.66 0.66
Dec 31, 2016 0.31 1.07 0.63 0.00 0.60 0.86
Dec 31, 2015 0.24 0.42 0.69 0.00 0.68 0.95
Dec 31, 2014 0.27 0.36 0.62 0.00 0.61 0.54
Dec 31, 2013 0.38 0.26 0.59 0.00 0.57 0.52
Dec 31, 2012 0.13 0.77 0.63 0.00 0.62 0.54
Dec 31, 2011 0.11 0.63 0.42 0.00 0.62 0.41
Dec 31, 2010 0.03 0.85 0.38 0.00 0.65 0.43
Dec 31, 2009 0.08 0.72 0.34 0.00 0.57 0.47
Dec 31, 2008 0.20 0.65 0.41 0.00 0.60 0.62
Dec 31, 2007 0.25 0.69 0.39 0.00 0.55 0.55
Dec 31, 2006 0.31 0.88 0.29 0.00 0.84 0.36
Dec 31, 2005 0.46 0.46 0.27 0.00 0.23 0.40

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Sector (Health Care Equipment & Services)

Edwards Lifesciences Corp., debt to equity, long-term trends, comparison to sector (health care equipment & services)

Microsoft Excel
Edwards Lifesciences Corp. Health Care Equipment & Services
Dec 31, 2021 0.10 0.55
Dec 31, 2020 0.13 0.56
Dec 31, 2019 0.14 0.58
Dec 31, 2018 0.19 0.60
Dec 31, 2017 0.35 0.71
Dec 31, 2016 0.31 0.72
Dec 31, 2015 0.24 0.69
Dec 31, 2014 0.27 0.52
Dec 31, 2013 0.38 0.47
Dec 31, 2012 0.13 0.61
Dec 31, 2011 0.11 0.49
Dec 31, 2010 0.03 0.55
Dec 31, 2009 0.08 0.51
Dec 31, 2008 0.20 0.55
Dec 31, 2007 0.25 0.53
Dec 31, 2006 0.31 0.50
Dec 31, 2005 0.46 0.34

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Industry (Health Care)

Edwards Lifesciences Corp., debt to equity, long-term trends, comparison to industry (health care)

Microsoft Excel
Edwards Lifesciences Corp. Health Care
Dec 31, 2021 0.10 0.80
Dec 31, 2020 0.13 0.92
Dec 31, 2019 0.14 0.90
Dec 31, 2018 0.19 0.80
Dec 31, 2017 0.35 0.82
Dec 31, 2016 0.31 0.77
Dec 31, 2015 0.24 0.69
Dec 31, 2014 0.27 0.54
Dec 31, 2013 0.38 0.50
Dec 31, 2012 0.13 0.54
Dec 31, 2011 0.11 0.47
Dec 31, 2010 0.03 0.43
Dec 31, 2009 0.08 0.42
Dec 31, 2008 0.20 0.42
Dec 31, 2007 0.25 0.36
Dec 31, 2006 0.31 0.32
Dec 31, 2005 0.46 0.30

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).