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.

Enterprise Value to EBITDA (EV/EBITDA)

Microsoft Excel

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Edwards Lifesciences Corp., EBITDA calculation

US$ in thousands

Microsoft Excel
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
Add: Income tax expense 198,900 93,300 119,600 39,200 451,300
Earnings before tax (EBT) 1,702,000 916,700 1,166,500 761,400 1,034,900
Add: Interest expense 18,400 15,800 20,700 29,900 23,200
Earnings before interest and tax (EBIT) 1,720,400 932,500 1,187,200 791,300 1,058,100
Add: Depreciation and amortization 134,800 107,200 89,300 77,400 81,900
Earnings before interest, tax, depreciation and amortization (EBITDA) 1,855,200 1,039,700 1,276,500 868,700 1,140,000

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).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Edwards Lifesciences Corp. EBITDA decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

Enterprise Value to EBITDA Ratio, Current

Edwards Lifesciences Corp., current EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in thousands)
Enterprise value (EV) 66,267,039
Earnings before interest, tax, depreciation and amortization (EBITDA) 1,855,200
Valuation Ratio
EV/EBITDA 35.72
Benchmarks
EV/EBITDA, Competitors1
Abbott Laboratories 19.79
Cigna Group 11.27
CVS Health Corp. 6.70
Elevance Health Inc. 7.72
Humana Inc. 5.53
Intuitive Surgical Inc. 78.91
Medtronic PLC 15.25
UnitedHealth Group Inc. 16.17
EV/EBITDA, Sector
Health Care Equipment & Services 15.68
EV/EBITDA, Industry
Health Care 14.72

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

1 Click competitor name to see calculations.

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


Enterprise Value to EBITDA Ratio, Historical

Edwards Lifesciences Corp., historical EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Enterprise value (EV)1 66,267,037 53,931,479 47,290,710 36,573,998 27,806,373
Earnings before interest, tax, depreciation and amortization (EBITDA)2 1,855,200 1,039,700 1,276,500 868,700 1,140,000
Valuation Ratio
EV/EBITDA3 35.72 51.87 37.05 42.10 24.39
Benchmarks
EV/EBITDA, Competitors4
Abbott Laboratories 17.42 25.99 21.70
Cigna Group 9.06 6.31 8.42
CVS Health Corp. 10.41 8.56 9.43
Elevance Health Inc. 10.05 7.57 9.05
Humana Inc. 11.22 6.91 9.30
Intuitive Surgical Inc. 44.54 59.12 37.53
Medtronic PLC 24.41 17.92 16.01
UnitedHealth Group Inc. 17.39 13.39 13.82
EV/EBITDA, Sector
Health Care Equipment & Services 15.20 12.74 12.95
EV/EBITDA, Industry
Health Care 13.31 16.61 14.16

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 See details »

2 See details »

3 2021 Calculation
EV/EBITDA = EV ÷ EBITDA
= 66,267,037 ÷ 1,855,200 = 35.72

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Edwards Lifesciences Corp. EV/EBITDA ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.