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Avanos Medical vs Edwards Lifesciences: revenue, profit, margins and growth compared

Avanos Medical brought in $701.2M of revenue in fiscal 2025, Edwards Lifesciences $6.1B in fiscal 2025. Revenue changed by +1.9% at Avanos Medical and +11.5% at Edwards Lifesciences on the year before, so Edwards Lifesciences grew faster. Avanos Medical kept -10.4% of its revenue as net profit, Edwards Lifesciences 17.7%. Free cash flow was $43.1M at Avanos Medical and $1.3B at Edwards Lifesciences.

Side by side, latest fiscal year

AVNSEW
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$701.2M$6.1B
Revenue growth+1.9%+11.5%
Net income-$72.9M$1.1B
Net margin-10.4%17.7%
Free cash flow$43.1M$1.3B
Free cash flow margin6.1%22.0%
Earnings per share (diluted)-$1.57$1.83
Cash$89.8M$2.9B
Debt$90.3M$598.3M
Price to earningsn/a47.1
Market valuen/a$49.7B
Dividend yieldn/an/a
Rank by revenue in sector#175 of 646 · Health care#55 of 646 · Health care

Over the years

Revenue
AVNS FY2018: $652.3MAVNS FY2019: $697.6MAVNS FY2020: $714.8MAVNS FY2021: $587MAVNS FY2022: $684.1MAVNS FY2023: $673.3MAVNS FY2024: $687.8MAVNS FY2025: $701.2MEW FY2018: $3.7BEW FY2019: $4.3BEW FY2020: $4.4BEW FY2021: $5.2BEW FY2022: $4.5BEW FY2023: $5BEW FY2024: $5.4BEW FY2025: $6.1BFY18FY19FY20FY21FY22FY23FY24FY25
AVNS $701.2MEW $6.1B
Net income
AVNS FY2018: $57.5MAVNS FY2019: -$45.9MAVNS FY2020: -$29MAVNS FY2021: $6.3MAVNS FY2022: $50.5MAVNS FY2023: -$61.8MAVNS FY2024: -$392.1MAVNS FY2025: -$72.9MEW FY2018: $722.2MEW FY2019: $1BEW FY2020: $823.4MEW FY2021: $1.5BEW FY2022: $1.5BEW FY2023: $1.4BEW FY2024: $4.2BEW FY2025: $1.1BFY18FY19FY20FY21FY22FY23FY24FY25
AVNS -$72.9MEW $1.1B
Net margin
AVNS FY2018: 8.8%AVNS FY2019: -6.6%AVNS FY2020: -4.1%AVNS FY2021: 1.1%AVNS FY2022: 7.4%AVNS FY2023: -9.2%AVNS FY2024: -57.0%AVNS FY2025: -10.4%EW FY2018: 19.4%EW FY2019: 24.1%EW FY2020: 18.8%EW FY2021: 28.7%EW FY2022: 34.1%EW FY2023: 28.0%EW FY2024: 76.7%EW FY2025: 17.7%FY18FY19FY20FY21FY22FY23FY24FY25
AVNS -10.4%EW 17.7%
Revenue growth
AVNS FY2019: +6.9%AVNS FY2020: +2.5%AVNS FY2021: -17.9%AVNS FY2022: +16.5%AVNS FY2023: -1.6%AVNS FY2024: +2.2%AVNS FY2025: +1.9%EW FY2019: +16.8%EW FY2020: +0.9%EW FY2021: +19.3%EW FY2022: -14.7%EW FY2023: +12.2%EW FY2024: +8.6%EW FY2025: +11.5%FY19FY20FY21FY22FY23FY24FY25
AVNS +1.9%EW +11.5%
Free cash flow
AVNS FY2018: -$194.7MAVNS FY2019: -$125.1MAVNS FY2020: -$22.7MAVNS FY2021: $66.3MAVNS FY2022: $71.6MAVNS FY2023: $14.6MAVNS FY2024: $82.9MAVNS FY2025: $43.1MEW FY2018: $688MEW FY2019: $928.5MEW FY2020: $647.3MEW FY2021: $1.4BEW FY2022: $973.6MEW FY2023: $642.8MEW FY2024: $289.9MEW FY2025: $1.3BFY18FY19FY20FY21FY22FY23FY24FY25
AVNS $43.1MEW $1.3B

Fiscal years as each company reports them; the two may end in different months.

Questions about Avanos Medical and Edwards Lifesciences

Which is bigger by revenue, Avanos Medical or Edwards Lifesciences?

Edwards Lifesciences is bigger by revenue: $6.1B in fiscal 2025, against $701.2M for Avanos Medical in fiscal 2025.

Which keeps more of its revenue as profit, Avanos Medical or Edwards Lifesciences?

Avanos Medical had a net margin of -10.4% in fiscal 2025; Edwards Lifesciences had 17.7% in fiscal 2025.

Which grew revenue faster, Avanos Medical or Edwards Lifesciences?

In their latest fiscal years revenue changed by +1.9% at Avanos Medical and +11.5% at Edwards Lifesciences.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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