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.

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Edwards Lifesciences Corp., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Turnover Ratios
Inventory turnover 1.72 1.67 1.59 1.44 1.35 1.38 1.47 1.73 1.74 1.74 1.59 1.49 1.55 1.61 1.63 1.56 1.58
Receivables turnover 8.99 8.48 7.69 7.63 8.52 7.95
Payables turnover 6.11 8.86
Working capital turnover 2.44 2.00 2.02 1.97 2.00 2.05 2.38 2.55 2.09 2.11 2.39 2.22 2.64 2.20 2.35 2.46 3.04
Average No. Days
Average inventory processing period 212 218 230 253 271 264 248 211 210 210 229 246 236 227 223 234 231
Add: Average receivable collection period 41 43 47 48 43 46
Operating cycle 253 261 277 301 314 310
Less: Average payables payment period 60 41
Cash conversion cycle 193 220

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Edwards Lifesciences Corp. inventory turnover ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.
Receivables turnover An activity ratio equal to revenue divided by receivables. Edwards Lifesciences Corp. receivables turnover ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Edwards Lifesciences Corp. working capital turnover ratio deteriorated from Q2 2021 to Q3 2021 but then improved from Q3 2021 to Q4 2021 exceeding Q2 2021 level.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Edwards Lifesciences Corp. number of days of inventory outstanding improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Edwards Lifesciences Corp. number of days of receivables outstanding improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Edwards Lifesciences Corp. operating cycle improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Inventory Turnover

Edwards Lifesciences Corp., inventory turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Cost of sales 309,500 311,700 334,300 293,400 296,300 281,000 238,200 265,100 286,200 292,400 304,000 231,800 234,700 224,900 246,200 233,600 235,300 213,300 211,100 215,600
Inventories 726,700 737,800 759,500 767,900 802,300 773,300 735,100 662,200 640,900 611,100 624,900 630,900 607,000 583,800 568,100 573,900 554,900 538,400 491,600 431,400
Short-term Activity Ratio
Inventory turnover1 1.72 1.67 1.59 1.44 1.35 1.38 1.47 1.73 1.74 1.74 1.59 1.49 1.55 1.61 1.63 1.56 1.58
Benchmarks
Inventory Turnover, Competitors2
Abbott Laboratories 3.59 3.47 3.27 2.99 2.99 2.71 2.56 2.92 3.07
Cigna Group 31.58 37.54 36.13 36.50 32.70 37.84 36.30 38.13 36.70
CVS Health Corp. 13.52 13.49 13.48 12.57 11.88 12.43 13.03 12.68 12.06
Danaher Corp. 4.16 4.06 4.28 4.34 4.28 3.79 3.26 3.09 4.87
Intuitive Surgical Inc. 2.98 2.90 2.84 2.64 2.49 2.18 2.22 2.30 2.30
Medtronic PLC 2.43 2.24 2.20 2.10 2.23 2.34 2.35 2.37 2.44 2.35 2.39 2.42 2.53

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Inventory turnover = (Cost of salesQ4 2021 + Cost of salesQ3 2021 + Cost of salesQ2 2021 + Cost of salesQ1 2021) ÷ Inventories
= (309,500 + 311,700 + 334,300 + 293,400) ÷ 726,700 = 1.72

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Edwards Lifesciences Corp. inventory turnover ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Receivables Turnover

Edwards Lifesciences Corp., receivables turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Net sales 1,329,700 1,310,200 1,376,000 1,216,600 1,191,700 1,140,900 925,000 1,128,700 1,174,100 1,094,000 1,086,900 993,000 977,700 906,600 943,700 894,800 888,500 821,500 841,800 883,500
Accounts receivable, net of allowances 582,200 600,600 640,500 586,600 514,600 549,700
Short-term Activity Ratio
Receivables turnover1 8.99 8.48 7.69 7.63 8.52 7.95
Benchmarks
Receivables Turnover, Competitors2
Abbott Laboratories 6.64 6.61 6.58 6.13 5.40 5.70 6.12 6.06 5.88
CVS Health Corp. 11.91 11.23 11.48 11.32 12.32 11.14 11.68 11.33 13.04
Danaher Corp. 6.36 6.69 6.51 6.28 5.51 5.83 5.59 5.25 5.61
Elevance Health Inc. 20.66 18.93 18.81 17.39 19.72 18.91 18.04 16.74 18.20
Humana Inc. 45.69 42.91 32.51 35.43 66.78 64.58 31.30 33.43 60.97
Intuitive Surgical Inc. 7.30 7.90 7.38 6.96 6.75 7.32 8.56 8.73 6.94
Medtronic PLC 5.51 5.35 5.21 5.73 6.22 4.97 5.05 5.20 4.91 5.22 5.29 5.28 5.00
UnitedHealth Group Inc. 20.07 19.60 18.53 16.35 19.86 20.63 19.62 16.73 20.32

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Receivables turnover = (Net salesQ4 2021 + Net salesQ3 2021 + Net salesQ2 2021 + Net salesQ1 2021) ÷ Accounts receivable, net of allowances
= (1,329,700 + 1,310,200 + 1,376,000 + 1,216,600) ÷ 582,200 = 8.99

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Edwards Lifesciences Corp. receivables turnover ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Payables Turnover

Edwards Lifesciences Corp., payables turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Cost of sales 309,500 311,700 334,300 293,400 296,300 281,000 238,200 265,100 286,200 292,400 304,000 231,800 234,700 224,900 246,200 233,600 235,300 213,300 211,100 215,600
Accounts payable 204,500 139,500
Short-term Activity Ratio
Payables turnover1 6.11 8.86
Benchmarks
Payables Turnover, Competitors2
Abbott Laboratories 4.21 4.55 4.43 3.97 3.80 4.37 4.00 4.20 4.07
Cigna Group 7.68 7.71 7.60 7.74 7.75 8.02 8.30 9.06 9.34
CVS Health Corp. 19.14 18.49 20.72 20.50 19.72 18.61 21.70 21.06 20.13
Danaher Corp. 4.48 5.20 5.54 5.29 4.79 5.46 5.28 4.55 5.23
Elevance Health Inc. 7.59 7.31 7.30 7.31 7.75 8.32 8.42 8.48 9.25
Humana Inc. 8.35 7.76 7.81 7.32 7.57 7.20 7.12 7.90 8.97
Intuitive Surgical Inc. 14.45 14.13 13.71 14.80 18.35 12.46 13.18 10.69 11.08
Medtronic PLC 4.98 5.56 5.19 5.56 4.72 4.96 4.84 4.89 4.69 5.31 5.16 4.98 5.56
UnitedHealth Group Inc. 7.63 6.98 6.97 6.58 7.29 7.40 8.02 6.96 7.21

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Payables turnover = (Cost of salesQ4 2021 + Cost of salesQ3 2021 + Cost of salesQ2 2021 + Cost of salesQ1 2021) ÷ Accounts payable
= (309,500 + 311,700 + 334,300 + 293,400) ÷ 204,500 = 6.11

2 Click competitor name to see calculations.


Working Capital Turnover

Edwards Lifesciences Corp., working capital turnover calculation (quarterly data)

Microsoft Excel
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Current assets 3,180,700 3,515,500 3,322,900 3,069,200 3,091,000 2,980,400 2,690,300 2,507,900 2,984,000 2,739,700 2,354,700 2,368,800 2,286,900 2,912,600 2,696,000 2,716,900 2,532,100 2,566,400 2,283,400 2,018,400
Less: Current liabilities 1,032,300 966,500 886,200 799,000 893,900 846,300 873,200 746,900 902,400 775,800 697,000 646,500 876,600 1,261,100 1,183,200 1,314,500 1,402,900 735,200 562,500 584,800
Working capital 2,148,400 2,549,000 2,436,700 2,270,200 2,197,100 2,134,100 1,817,100 1,761,000 2,081,600 1,963,900 1,657,700 1,722,300 1,410,300 1,651,500 1,512,800 1,402,400 1,129,200 1,831,200 1,720,900 1,433,600
 
Net sales 1,329,700 1,310,200 1,376,000 1,216,600 1,191,700 1,140,900 925,000 1,128,700 1,174,100 1,094,000 1,086,900 993,000 977,700 906,600 943,700 894,800 888,500 821,500 841,800 883,500
Short-term Activity Ratio
Working capital turnover1 2.44 2.00 2.02 1.97 2.00 2.05 2.38 2.55 2.09 2.11 2.39 2.22 2.64 2.20 2.35 2.46 3.04
Benchmarks
Working Capital Turnover, Competitors2
Abbott Laboratories 3.87 3.98 4.02 3.99 4.06 4.52 5.02 6.84 6.64
Cigna Group
CVS Health Corp.
Danaher Corp. 8.40 7.98 3.12 3.45 3.48 3.14 2.80 6.74 0.87
Elevance Health Inc. 7.23 6.79 6.67 5.38 6.39 5.98 5.40 6.81 6.11
Humana Inc. 8.67 7.47 7.38 7.61 7.42 6.04 6.14 6.91 7.19
Intuitive Surgical Inc. 1.22 1.17 1.03 0.88 0.77 0.80 0.88 1.23 1.23
Medtronic PLC 2.15 2.02 2.00 2.44 2.48 2.03 2.13 2.16 2.26 2.54 2.30 2.24 2.32
UnitedHealth Group Inc.

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Working capital turnover = (Net salesQ4 2021 + Net salesQ3 2021 + Net salesQ2 2021 + Net salesQ1 2021) ÷ Working capital
= (1,329,700 + 1,310,200 + 1,376,000 + 1,216,600) ÷ 2,148,400 = 2.44

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Edwards Lifesciences Corp. working capital turnover ratio deteriorated from Q2 2021 to Q3 2021 but then improved from Q3 2021 to Q4 2021 exceeding Q2 2021 level.

Average Inventory Processing Period

Edwards Lifesciences Corp., average inventory processing period calculation (quarterly data)

Microsoft Excel
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Inventory turnover 1.72 1.67 1.59 1.44 1.35 1.38 1.47 1.73 1.74 1.74 1.59 1.49 1.55 1.61 1.63 1.56 1.58
Short-term Activity Ratio (no. days)
Average inventory processing period1 212 218 230 253 271 264 248 211 210 210 229 246 236 227 223 234 231
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Abbott Laboratories 102 105 111 122 122 135 142 125 119
Cigna Group 12 10 10 10 11 10 10 10 10
CVS Health Corp. 27 27 27 29 31 29 28 29 30
Danaher Corp. 88 90 85 84 85 96 112 118 75
Intuitive Surgical Inc. 122 126 129 138 147 167 164 159 159
Medtronic PLC 150 163 166 174 164 156 155 154 150 156 153 151 144

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 1.72 = 212

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Edwards Lifesciences Corp. number of days of inventory outstanding improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Average Receivable Collection Period

Edwards Lifesciences Corp., average receivable collection period calculation (quarterly data)

Microsoft Excel
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Receivables turnover 8.99 8.48 7.69 7.63 8.52 7.95
Short-term Activity Ratio (no. days)
Average receivable collection period1 41 43 47 48 43 46
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Abbott Laboratories 55 55 55 60 68 64 60 60 62
CVS Health Corp. 31 32 32 32 30 33 31 32 28
Danaher Corp. 57 55 56 58 66 63 65 69 65
Elevance Health Inc. 18 19 19 21 19 19 20 22 20
Humana Inc. 8 9 11 10 5 6 12 11 6
Intuitive Surgical Inc. 50 46 49 52 54 50 43 42 53
Medtronic PLC 66 68 70 64 59 73 72 70 74 70 69 69 73
UnitedHealth Group Inc. 18 19 20 22 18 18 19 22 18

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 8.99 = 41

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Edwards Lifesciences Corp. number of days of receivables outstanding improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Operating Cycle

Edwards Lifesciences Corp., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Average inventory processing period 212 218 230 253 271 264 248 211 210 210 229 246 236 227 223 234 231
Average receivable collection period 41 43 47 48 43 46
Short-term Activity Ratio
Operating cycle1 253 261 277 301 314 310
Benchmarks
Operating Cycle, Competitors2
Abbott Laboratories 157 160 166 182 190 199 202 185 181
CVS Health Corp. 58 59 59 61 61 62 59 61 58
Danaher Corp. 145 145 141 142 151 159 177 187 140
Intuitive Surgical Inc. 172 172 178 190 201 217 207 201 212
Medtronic PLC 216 231 236 238 223 229 227 224 224 226 222 220 217

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 212 + 41 = 253

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Edwards Lifesciences Corp. operating cycle improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Average Payables Payment Period

Edwards Lifesciences Corp., average payables payment period calculation (quarterly data)

Microsoft Excel
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Payables turnover 6.11 8.86
Short-term Activity Ratio (no. days)
Average payables payment period1 60 41
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Abbott Laboratories 87 80 82 92 96 83 91 87 90
Cigna Group 48 47 48 47 47 46 44 40 39
CVS Health Corp. 19 20 18 18 19 20 17 17 18
Danaher Corp. 82 70 66 69 76 67 69 80 70
Elevance Health Inc. 48 50 50 50 47 44 43 43 39
Humana Inc. 44 47 47 50 48 51 51 46 41
Intuitive Surgical Inc. 25 26 27 25 20 29 28 34 33
Medtronic PLC 73 66 70 66 77 74 75 75 78 69 71 73 66
UnitedHealth Group Inc. 48 52 52 56 50 49 46 52 51

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 6.11 = 60

2 Click competitor name to see calculations.


Cash Conversion Cycle

Edwards Lifesciences Corp., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Average inventory processing period 212 218 230 253 271 264 248 211 210 210 229 246 236 227 223 234 231
Average receivable collection period 41 43 47 48 43 46
Average payables payment period 60 41
Short-term Activity Ratio
Cash conversion cycle1 193 220
Benchmarks
Cash Conversion Cycle, Competitors2
Abbott Laboratories 70 80 84 90 94 116 111 98 91
CVS Health Corp. 39 39 41 43 42 42 42 44 40
Danaher Corp. 63 75 75 73 75 92 108 107 70
Intuitive Surgical Inc. 147 146 151 165 181 188 179 167 179
Medtronic PLC 143 165 166 172 146 155 152 149 146 157 151 147 151

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 212 + 4160 = 193

2 Click competitor name to see calculations.