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Edwards Lifesciences vs MSA Safety: revenue, profit, margins and growth compared

Edwards Lifesciences brought in $6.1B of revenue in fiscal 2025, MSA Safety $1.9B in fiscal 2025. Revenue changed by +11.5% at Edwards Lifesciences and +3.7% at MSA Safety on the year before, so Edwards Lifesciences grew faster. Edwards Lifesciences kept 17.7% of its revenue as net profit, MSA Safety 14.9%. Free cash flow was $1.3B at Edwards Lifesciences and $295.4M at MSA Safety.

Side by side, latest fiscal year

EWMSA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$6.1B$1.9B
Revenue growth+11.5%+3.7%
Net income$1.1B$278.9M
Net margin17.7%14.9%
Free cash flow$1.3B$295.4M
Free cash flow margin22.0%15.8%
Earnings per share (diluted)$1.83$7.09
Cash$2.9B$165.1M
Debt$598.3M$580.9M
Price to earnings47.525.7
Market value$50B$7B
Dividend yieldn/a1.15%
Rank by revenue in sector#57 of 742 · Health care#120 of 742 · Health care

Over the years

Revenue
EW FY2018: $3.7BEW FY2019: $4.3BEW FY2020: $4.4BEW FY2021: $5.2BEW FY2022: $4.5BEW FY2023: $5BEW FY2024: $5.4BEW FY2025: $6.1BMSA FY2018: $1.4BMSA FY2019: $1.4BMSA FY2020: $1.3BMSA FY2021: $1.4BMSA FY2022: $1.5BMSA FY2023: $1.8BMSA FY2024: $1.8BMSA FY2025: $1.9BFY18FY19FY20FY21FY22FY23FY24FY25
EW $6.1BMSA $1.9B
Net income
EW FY2018: $722.2MEW FY2019: $1BEW FY2020: $823.4MEW FY2021: $1.5BEW FY2022: $1.5BEW FY2023: $1.4BEW FY2024: $4.2BEW FY2025: $1.1BMSA FY2018: $124.2MMSA FY2019: $138MMSA FY2020: $124.1MMSA FY2021: $21.3MMSA FY2022: $179.6MMSA FY2023: $58.6MMSA FY2024: $285MMSA FY2025: $278.9MFY18FY19FY20FY21FY22FY23FY24FY25
EW $1.1BMSA $278.9M
Net margin
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%MSA FY2018: 9.1%MSA FY2019: 9.8%MSA FY2020: 9.2%MSA FY2021: 1.5%MSA FY2022: 11.8%MSA FY2023: 3.3%MSA FY2024: 15.8%MSA FY2025: 14.9%FY18FY19FY20FY21FY22FY23FY24FY25
EW 17.7%MSA 14.9%
Revenue growth
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%MSA FY2019: +3.2%MSA FY2020: -3.8%MSA FY2021: +3.9%MSA FY2022: +9.1%MSA FY2023: +17.0%MSA FY2024: +1.1%MSA FY2025: +3.7%FY19FY20FY21FY22FY23FY24FY25
EW +11.5%MSA +3.7%
Free cash flow
EW FY2018: $688MEW FY2019: $928.5MEW FY2020: $647.3MEW FY2021: $1.4BEW FY2022: $973.6MEW FY2023: $642.8MEW FY2024: $289.9MEW FY2025: $1.3BMSA FY2018: $229.9MMSA FY2019: $128.4MMSA FY2020: $157.7MMSA FY2021: $155.3MMSA FY2022: $114.9MMSA FY2023: $50.1MMSA FY2024: $242.2MMSA FY2025: $295.4MFY18FY19FY20FY21FY22FY23FY24FY25
EW $1.3BMSA $295.4M

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

Questions about Edwards Lifesciences and MSA Safety

Which is bigger by revenue, Edwards Lifesciences or MSA Safety?

Edwards Lifesciences is bigger by revenue: $6.1B in fiscal 2025, against $1.9B for MSA Safety in fiscal 2025.

Which keeps more of its revenue as profit, Edwards Lifesciences or MSA Safety?

Edwards Lifesciences had a net margin of 17.7% in fiscal 2025; MSA Safety had 14.9% in fiscal 2025.

Which grew revenue faster, Edwards Lifesciences or MSA Safety?

In their latest fiscal years revenue changed by +11.5% at Edwards Lifesciences and +3.7% at MSA Safety.

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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