Direct Answer
Edwards Lifesciences reports revenue across 4 business segments in its fiscal 2025 Form 10-K. United States is the largest, with $3.5 billion of revenue (58% of the total), followed by Europe at $1.5 billion (25%).
How Does Edwards Lifesciences Make Money?
No single line supplies a majority of revenue: the largest, United States, is 58%, which spreads Edwards Lifesciences's exposure across several demand drivers. Between fiscal 2024 and 2025, Europe grew fastest (+14.8%) and Japan slowest (+4.4%), so the revenue mix tilts toward Europe while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| United States | $3.5 billion | $3.2 billion | 58.4% | 10.5% |
| Europe | $1.5 billion | $1.3 billion | 25.0% | 14.8% |
| Rest of World | $652 million | $572 million | 10.8% | 14.0% |
| Japan | $355 million | $340 million | 5.8% | 4.4% |
What Does Edwards Lifesciences Sell?
Edwards Lifesciences also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Transcatheter Aortic Valve Replacement | $4.5 billion | $4.1 billion | 74.0% | 9.3% |
| Surgical Heart Valve Therapy | $1.0 billion | $981 million | 17.0% | 4.9% |
| Transcatheter Mitral and Tricuspid Therapies | $551 million | $352 million | 9.1% | 56.4% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Edwards Lifesciences's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Edwards Lifesciences reported in the segment note and revenue disclosures of its Form 10-K filed February 25, 2026 (accession 0001099800-26-000009), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Edwards Lifesciences's business segments?
In its fiscal 2025 Form 10-K, Edwards Lifesciences reports revenue for United States, Europe, Rest of World and Japan.
Which part of Edwards Lifesciences brings in the most revenue?
United States, with $3.5 billion of revenue in fiscal 2025, or 58% of the total.
Where does Edwards Lifesciences report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 25, 2026, alongside management's discussion of each segment's results.