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.

Price to FCFE (P/FCFE) 

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Free Cash Flow to Equity (FCFE)

Edwards Lifesciences Corp., FCFE calculation

US$ in thousands

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12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net income 1,503,100 823,400 1,046,900 722,200 583,600
Net noncash charges 83,700 188,700 336,800 247,200 182,900
Changes in operating assets and liabilities 145,300 42,200 (204,300) (42,600) 234,200
Net cash provided by operating activities 1,732,100 1,054,300 1,179,400 926,800 1,000,700
Capital expenditures (325,800) (407,000) (254,400) (238,700) (168,100)
Investments in intangible assets and in-process research and development (4,000) (300) (24,000) (3,000) (7,400)
Proceeds from issuance of debt 5,200 16,200 18,900 688,000 994,700
Payments on debt and finance lease obligations (7,000) (17,000) (28,900) (1,125,300) (818,400)
Free cash flow to equity (FCFE) 1,400,500 646,200 891,000 247,800 1,001,500

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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Edwards Lifesciences Corp. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Edwards Lifesciences Corp. FCFE decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

Price to FCFE Ratio, Current

Edwards Lifesciences Corp., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 623,207,437
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands) 1,400,500
FCFE per share 2.25
Current share price (P) 107.73
Valuation Ratio
P/FCFE 47.94
Benchmarks
P/FCFE, Competitors1
Abbott Laboratories 77.55
Cigna Group 10.33
CVS Health Corp. 5.31
Danaher Corp. 52.81
Elevance Health Inc. 16.15
Humana Inc. 11.48
Intuitive Surgical Inc. 186.26
Medtronic PLC 27.87
UnitedHealth Group Inc. 15.10
P/FCFE, Sector
Health Care Equipment & Services 19.70
P/FCFE, Industry
Health Care 20.44

Based on: 10-K (reporting date: 2021-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Edwards Lifesciences Corp., historical P/FCFE calculation, comparison to benchmarks

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1 623,207,437 624,518,873 627,367,734 623,298,987 630,071,124
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)2 1,400,500 646,200 891,000 247,800 1,001,500
FCFE per share3 2.25 1.03 1.42 0.40 1.59
Share price1, 4 107.73 87.65 76.85 59.26 44.61
Valuation Ratio
P/FCFE5 47.94 84.71 54.11 149.06 28.07
Benchmarks
P/FCFE, Competitors6
Abbott Laboratories 24.52 38.42 53.19
Cigna Group 10.98 16.30 20.76
CVS Health Corp. 21.23 11.93 18.52
Danaher Corp. 20.75 44.62 6.88
Elevance Health Inc. 11.07 7.75 13.72
Humana Inc. 11.49 8.47 11.73
Intuitive Surgical Inc. 58.39 81.15 57.31
Medtronic PLC 38.91 23.06 26.62
UnitedHealth Group Inc. 20.11 13.93 13.90
P/FCFE, Sector
Health Care Equipment & Services 20.22 18.16 16.24
P/FCFE, Industry
Health Care 17.67 16.95 13.53

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).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2021 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 1,400,500,000 ÷ 623,207,437 = 2.25

4 Closing price as at the filing date of Edwards Lifesciences Corp. Annual Report.

5 2021 Calculation
P/FCFE = Share price ÷ FCFE per share
= 107.73 ÷ 2.25 = 47.94

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Edwards Lifesciences Corp. P/FCFE ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.