Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Edwards Lifesciences Corporation (EW) Halal?

PASS

Edwards Lifesciences Corporation · NYSE: EW · Healthcare

The short answer

Yes -- Edwards Lifesciences Corporation (EW) passes this Shariah stock screen on all three gates. Per its own FY2025 10-K, its core business is structural heart medical devices -- TAVR valves (74% of 2025 net sales), transcatheter mitral/tricuspid therapies (9%), and surgical tissue valves (17%) -- with no non-compliant segments in lending, insurance, alcohol, gambling, pork, tobacco, or weapons; its Critical Care group was sold in 2024. Its separately disclosed interest income of $168.8M for FY2025 is about 2.78% of its $6,067.6M in net sales, below the 5% non-compliant income ceiling. Its debt screen passes comfortably: $705.4M of interest-bearing debt ($598.3M senior notes plus $107.1M lease obligations) is about 1.43% of its ~$49.48B market cap ($85.19, latest close retrieved October 2, 2026; 580.8 million shares per the 10-K cover), far below the ~33% ceiling. Third-party coverage agrees: Zoya flags EW as Shariah-compliant and Musaffa classifies it as halal (October 2026); no ShariaPortfolio page for EW was found. All coverage positions are honestly reported, not invented.

Gate 1 — Business activity: PASS

Edwards Lifesciences Corporation (NYSE: EW), based in Irvine, California, describes itself in its FY2025 10-K as the leading global structural heart innovation company. Its products fall into three groups: Transcatheter Aortic Valve Replacement (TAVR) (the SAPIEN family of valves -- 74% of 2025 net sales), Transcatheter Mitral and Tricuspid Therapies (TMTT) (PASCAL, EVOQUE and SAPIEN M3 systems -- 9% of 2025 net sales), and Surgical Structural Heart (RESILIA-tissue surgical valves including INSPIRIS, KONECT and MITRIS -- 17% of 2025 net sales). The Critical Care product group was sold to Becton, Dickinson and Company in September 2024 and a noncore product group was sold in December 2025, so continuing operations are purely structural heart therapies. Business screen (factual, from the filing): there are no segments in conventional lending, insurance, alcohol, gambling, pork, tobacco, or weapons -- the core business is medical devices for structural heart disease. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per Edwards Lifesciences' FY2025 10-K (fiscal year ended December 31, 2025), interest-bearing debt was $705.4M -- long-term debt of $598.3M (the $600M 4.3% unsecured senior notes due June 2028, per Note 12) plus operating lease liabilities of $107.1M ($24.5M current plus $82.6M non-current). Accounts payable, accrued liabilities, and uncertain tax positions are operating liabilities and are not counted as debt. Against a market cap of about $49.48B ($85.19 latest close retrieved October 2, 2026; 580.8 million shares outstanding per the 10-K cover), debt divided by market cap is about 1.43%, far below the ~33% ceiling. Cash and cash equivalents of $2,938.0M are about 5.94% of market cap, or about 8.54% including $1,288.3M of short-term investments. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Edwards Lifesciences' FY2025 10-K income statement reports interest income of $168.8M against net sales of $6,067.6M -- about 2.78% of revenue, below the 5% non-compliant income ceiling. Interest income is separately disclosed on the income statement (alongside $20.4M of interest expense, so net interest income was $148.4M, about 2.45% of revenue). Gate 3 passes on either measure. Facts only.

Key figures used

Frequently asked questions

What does Edwards Lifesciences do?

Edwards Lifesciences Corporation (NYSE: EW), based in Irvine, California, describes itself in its FY2025 10-K as the leading global structural heart innovation company. Its products are grouped into three categories: Transcatheter Aortic Valve Replacement (TAVR) -- the SAPIEN family of valves, which was 74% of 2025 net sales; Transcatheter Mitral and Tricuspid Therapies (TMTT) -- PASCAL, EVOQUE and SAPIEN M3 systems, 9% of 2025 net sales; and Surgical Structural Heart -- RESILIA-tissue surgical valves such as INSPIRIS, KONECT and MITRIS, 17% of 2025 net sales. It sold its Critical Care product group to Becton, Dickinson and Company in September 2024 and sold a noncore product group in December 2025, so continuing operations are now purely structural heart therapies. There are no lending, insurance, alcohol, gambling, pork, tobacco, or weapons segments in the filing.

Why does Edwards Lifesciences pass this Shariah stock screen?

Edwards Lifesciences passes all three gates of this Shariah stock screen. Gate 1 passes: its core business is developing and selling structural heart medical devices -- heart valves and transcatheter repair and replacement systems -- with no non-compliant segments in conventional lending, insurance, alcohol, gambling, pork, tobacco, or weapons. Gate 2 passes: interest-bearing debt of $705.4M is only about 1.43% of its ~$49.48B market cap, far below the ~33% ceiling. Gate 3 passes: separately disclosed interest income of $168.8M is about 2.78% of $6,067.6M in net sales, below the 5% non-compliant income ceiling. This is a factual screen, not a religious ruling -- consult a qualified scholar for personal rulings.

What is Edwards Lifesciences' interest-bearing debt ratio?

Per Edwards Lifesciences' FY2025 10-K (fiscal year ended December 31, 2025), interest-bearing debt was $705.4M -- long-term debt of $598.3M (the $600M 4.3% unsecured senior notes due June 2028, per Note 12) plus operating lease liabilities of $107.1M ($24.5M current plus $82.6M non-current). Accounts payable, accrued liabilities, and uncertain tax positions are operating liabilities and are not counted as debt. Against a market cap of about $49.48B ($85.19 latest close retrieved October 2, 2026; 580.8 million shares outstanding per the 10-K cover), debt divided by market cap is about 1.43% -- well below the ~33% ceiling. Cash and cash equivalents of $2,938.0M are about 5.94% of market cap, or about 8.54% including $1,288.3M of short-term investments.

What is Edwards Lifesciences' non-compliant income ratio?

Edwards Lifesciences' FY2025 10-K income statement reports interest income of $168.8M against net sales of $6,067.6M -- about 2.78% of revenue, below the 5% non-compliant income ceiling. Interest income is separately disclosed on the income statement alongside $20.4M of interest expense, so net interest income was $148.4M, or about 2.45% of revenue. Gate 3 passes on either measure. Net sales of $6,067.6M were up from $5,439.5M in FY2024; net income attributable to Edwards Lifesciences was $1,073.5M for FY2025.

Do Zoya, Musaffa, or ShariaPortfolio cover Edwards Lifesciences?

Zoya covers EW and flags it as Shariah-compliant and considered halal to invest in based on the most recent financial reports (the page's displayed assessment date was blank when accessed in October 2026); Zoya also reports $148.4M of interest income against FY2025 revenue, at 2.45% of the combined total, consistent with this page's own Gate 3 arithmetic. Musaffa covers EW and classifies it as halal as of October 2026 under its AAOIFI methodology (musaffa.com/stock/EW/). No ShariaPortfolio (spscreener.mxcorporate.com) page for EW was found after two targeted searches in October 2026 -- no coverage found there. All located third-party coverage is consistent with this page's own PASS outcome. This page applies the screen directly from Edwards Lifesciences' own filings and reports these positions honestly.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).