Total Asset Turnover
since 2005

Edwards Lifesciences Corp., total asset turnover, long-term trends, calculation

	Total asset turnover	=	Net sales¹	÷	Total assets¹
Dec 31, 2021	0.62	=	5,232,500)	÷	8,502,600)
Dec 31, 2020	0.61	=	4,386,300)	÷	7,237,100)
Dec 31, 2019	0.67	=	4,348,000)	÷	6,488,100)
Dec 31, 2018	0.70	=	3,722,800)	÷	5,323,700)
Dec 31, 2017	0.60	=	3,435,300)	÷	5,695,800)
Dec 31, 2016	0.66	=	2,963,700)	÷	4,510,000)
Dec 31, 2015	0.61	=	2,493,700)	÷	4,059,300)
Dec 31, 2014	0.66	=	2,322,900)	÷	3,524,300)
Dec 31, 2013	0.75	=	2,045,500)	÷	2,724,700)
Dec 31, 2012	0.86	=	1,899,600)	÷	2,221,500)
Dec 31, 2011	0.85	=	1,678,600)	÷	1,980,500)
Dec 31, 2010	0.82	=	1,447,000)	÷	1,767,200)
Dec 31, 2009	0.82	=	1,321,400)	÷	1,615,500)
Dec 31, 2008	0.88	=	1,237,700)	÷	1,400,200)
Dec 31, 2007	0.81	=	1,091,100)	÷	1,345,100)
Dec 31, 2006	0.83	=	1,037,000)	÷	1,246,800)
Dec 31, 2005	0.81	=	997,900)	÷	1,229,100)

¹ US$ in thousands

Net Sales: Net sales exhibited a consistent upward trend over the analyzed period, increasing from approximately $998 million in 2005 to $5.23 billion by 2021. This reflects a robust growth trajectory, with occasional acceleration in later years, particularly from 2013 onward, indicating successful market expansion or increased demand.
Total Assets: Total assets also showed steady growth, rising from about $1.23 billion in 2005 to $8.5 billion in 2021. This signifies ongoing investment in asset base expansion, possibly to support increased operations or acquisitions. The asset base growth was especially marked after 2012, although a slight dip occurred around 2018 before resuming an upward path.
Total Asset Turnover: The total asset turnover ratio, which measures efficiency in using assets to generate sales, displayed variability throughout the period. It started at 0.81 in 2005, fluctuated modestly, reaching a low point around 2013-2015 near 0.60-0.61, and remained relatively stable thereafter around 0.60-0.62. This downward trend in asset turnover alongside increasing assets and sales suggests that asset growth outpaced sales growth in some periods, indicating a potential decrease in asset utilization efficiency.

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Edwards Lifesciences Corp., total asset turnover, long-term trends, comparison to competitors

	Edwards Lifesciences Corp.	Abbott Laboratories	CVS Health Corp.	Elevance Health Inc.	Intuitive Surgical Inc.	Medtronic PLC	UnitedHealth Group Inc.
Dec 31, 2021	0.62	0.57	1.25	1.41	0.42	0.32	1.34
Dec 31, 2020	0.61	0.48	1.16	1.39	0.39	0.32	1.30
Dec 31, 2019	0.67	0.47	1.15	1.33	0.46	0.34	1.38
Dec 31, 2018	0.70	0.46	0.99	1.28	0.47	0.33	1.48
Dec 31, 2017	0.60	0.36	1.94	1.26	0.54	0.30	1.44
Dec 31, 2016	0.66	0.40	1.88	1.29	0.42	0.29	1.50
Dec 31, 2015	0.61	0.49	1.64	1.27	0.49	0.19	1.40
Dec 31, 2014	0.66	0.49	1.88	1.18	0.54	0.45	1.50
Dec 31, 2013	0.75	0.51	1.77	1.18	0.57	0.48	1.49
Dec 31, 2012	0.86	0.59	1.87	1.03	0.54	0.49	1.36
Dec 31, 2011	0.85	0.64	1.66	1.15	0.57	0.52	1.49
Dec 31, 2010	0.82	0.59	1.55	1.15	0.59	0.56	1.48
Dec 31, 2009	0.82	0.59	1.60	1.17	0.58	0.62	1.47
Dec 31, 2008	0.88	0.70	1.43	1.27	0.59	0.61	1.44
Dec 31, 2007	0.81	0.65	1.39	1.15	0.58	0.63	1.46
Dec 31, 2006	0.83	0.62	2.13	1.08	0.55	0.57	1.46
Dec 31, 2005	0.81	0.77	2.42	0.87	0.45	0.61	1.08

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Edwards Lifesciences Corp., total asset turnover, long-term trends, comparison to sector (health care equipment & services)

	Edwards Lifesciences Corp.	Health Care Equipment & Services
Dec 31, 2021	0.62	1.09
Dec 31, 2020	0.61	1.03
Dec 31, 2019	0.67	1.04
Dec 31, 2018	0.70	0.98
Dec 31, 2017	0.60	1.10
Dec 31, 2016	0.66	1.13
Dec 31, 2015	0.61	1.03
Dec 31, 2014	0.66	1.25
Dec 31, 2013	0.75	1.22
Dec 31, 2012	0.86	1.14
Dec 31, 2011	0.85	1.17
Dec 31, 2010	0.82	1.13
Dec 31, 2009	0.82	1.17
Dec 31, 2008	0.88	1.18
Dec 31, 2007	0.81	1.15
Dec 31, 2006	0.83	1.16
Dec 31, 2005	0.81	1.03

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Edwards Lifesciences Corp., total asset turnover, long-term trends, comparison to industry (health care)

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Edwards Lifesciences Corp. (NYSE:EW)