EDWARDS LIFESCIENCES CORPORATION vs STRYKER CORP, two Medical Devices stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Edwards is a specialist that does one thing at the highest margins in devices, structural heart at 29% operating; Stryker is a generalist that does many things well, orthopedics to med-surg at 15.6%. The specialist's economics are prettier on every line but scale, a 78% gross margin against 63.3%, though Stryker's $128B footprint and acquisition machine earn it the benefit of most doubts. The multiples price them ten turns apart, 48.3 for Edwards against 38.5 for Stryker, both premium. Stryker pays a small dividend and carries 0.64 turns of debt; Edwards carries none. Neither yields much cash, 2.1% and 3.6%. Focus against breadth, both priced for excellence; the difference is which kind of disappointment each could survive.
Comparison updated 2026-07-10.
| Metric | EW | SYK |
|---|---|---|
| Price | $90.82 | $332.30 |
| Market cap | $52.7B | $128.4B |
| Sector | Medical Devices | Medical Devices |
| Stage | Growth | Mature |
| Implied growth (priced in) | — | +23.7% |
| P/E | 48.3 | 38.5 |
| P/B | 5.11 | 5.59 |
| P/S | 8.37 | 5.08 |
| EV/EBITDA | 36.7 | 21.3 |
| Revenue growth | +14.1% | +8.8% |
| Gross margin | 78.0% | 63.3% |
| Operating margin | 29.0% | 15.6% |
| Net margin | 17.4% | 13.2% |
| Return on equity | 10.6% | 14.5% |
| Return on assets | 8.2% | 7.2% |
| Return on invested capital | 10.2% | 11.6% |
| FCF yield | 2.1% | 3.6% |
| Dividend yield | — | 0.5% |
| Debt / equity | 0.06 | 0.64 |
| Current ratio | 4.42 | 2.11 |
| Altman Z (solvency) | 8.56 | 4.73 |
| Piotroski F (quality) | 5 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.