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Baxter International Inc.(BAX)Earnings, Financials & Key Ratios
BAX•NYSE
$16.98
$8.77B mkt cap·Price updated May 6, 2026
AboutBaxter International Inc., through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit. It also provides connected care solutions, including devices, software, communications, and integration technologies; integrated patient monitoring and diagnostic technologies to help diagnose, treat, and manage a various illness and diseases, including respiratory therapy, cardiology, vision screening, and physical assessment; surgical video technologies, tables, lights, pendants, precision positioning devices and other accessories. In addition, the company offers contracted services to various pharmaceutical and biopharmaceutical companies. Its products are used in hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, doctors' offices, and patients at home under physician supervision. The company sells its products through direct sales force, as well as through independent distributors, drug wholesalers, and specialty pharmacy or other alternate site providers in approximately 100 countries. It has an agreement with Celerity Pharmaceutical, LLC to develop acute care generic injectable premix and oncolytic molecules. Baxter International Inc. was incorporated in 1931 and is headquartered in Deerfield, Illinois.Show more
- Revenue$11.24B+5.7%
- EBITDA$673M-33.4%
- Net Income-$957M-47.5%
- EPS (Diluted)-1.75-37.8%
- Gross Margin30.05%-19.8%
- EBITDA Margin5.99%-37.0%
- Operating Margin-2.74%-2181.5%
- Net Margin-8.51%-39.5%
- ROE-14.58%-74.0%
- ROIC-1.41%-2657.3%
- Debt/Equity1.64-14.4%
- Interest Coverage-0.74-354.2%
BAX Key Insights
Baxter International Inc. (BAX) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Healthy dividend yield of 4.0%
- ✓Trading at only 1.4x book value
✗Weaknesses
- ✗Weak 3Y average ROE of 4.7%
- ✗Weak momentum: RS Rating 20 (bottom 20%)
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
BAX Price & Volume
Baxter International Inc. (BAX) stock price & volume — 10-year historical chart
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BAX Growth Metrics
Baxter International Inc. (BAX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years1.21%
5 Years-0.75%
3 Years3.79%
TTM5.1%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-96.07%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-92.61%
Return on Capital
10 Years4.6%
5 Years-0.68%
3 Years0.5%
Last Year-1.69%
BAX Recent Earnings
Baxter International Inc. (BAX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
Apr 30, 2026EPS
$0.36
Est $0.31
+16.1%
Revenue
$2.7B
Est $2.6B
+3.3%
Q1 2026
Feb 12, 2026EPS
$0.44
Est $0.53
-17.0%
Revenue
$3.0B
Est $2.8B
+5.3%
Q4 2025
Oct 30, 2025EPS
$0.69
Est $0.60
+15.0%
Revenue
$2.8B
Est $2.8B
+0.4%
Q3 2025
Jul 31, 2025EPS
$0.59
Est $0.60
-1.7%
Revenue
$2.8B
Est $2.9B
-2.3%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 30, 2026 | $0.36vs $0.31+16.1% | $2.7Bvs $2.6B+3.3% |
| Q1 2026 | Feb 12, 2026 | $0.44vs $0.53-17.0% | $3.0Bvs $2.8B+5.3% |
| Q4 2025 | Oct 30, 2025 | $0.69vs $0.60+15.0% | $2.8Bvs $2.8B+0.4% |
| Q3 2025 | Jul 31, 2025 | $0.59vs $0.60-1.7% | $2.8Bvs $2.9B-2.3% |
Based on last 12 quarters of dataView full earnings history →
BAX Peer Comparison
Baxter International Inc. (BAX) competitors in Drug delivery and infusion consumables — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 BDX | 52.45B | 144.76 | 24.83 | 8.23% | 8.01% | 6.93% | 0.76 | |
 BSX | 83.23B | 56.00 | 28.87 | 19.87% | 14.4% | 12.4% | 0.51 | |
 EW | 47.97B | 83.20 | 45.46 | 11.55% | 17.64% | 10.35% | 0.07 | |
 ICU | 29.11M | 4.87 | -0.73 | -15.51% | -119.2% | |||
 HSIC | 8.31B | 72.44 | 22.15 | 4.03% | 3.02% | 8.24% | 0.77 | |
 HAE | 2.45B | 52.64 | 15.90 | 3.95% | 13.31% | 20.26% | 1.49 | |
 FMS | 11.74B | 21.01 | 10.66 | 1.51% | 4.98% | 6.74% | 0.76 | |
 DVA | 12.79B | 193.88 | 20.39 | 6.46% | 5.65% | 59.11% | 12.99 |
Compare BAX vs Peers
Baxter International Inc. (BAX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BAX Income Statement
Baxter International Inc. (BAX) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 10.58B | 11.1B | 11.36B | 11.67B | 12.15B | 10.06B | 10.36B | 10.64B | 11.24B | 11.32B |
| Revenue Growth % | 4.14% | 4.87% | 2.37% | 2.74% | 4.05% | -17.2% | 3.01% | 2.66% | 5.72% | 5.1% |
| Cost of Goods Sold | 6.11B | 6.34B | 6.6B | 7.09B | 7.43B | 6.51B | 6.21B | 6.65B | 7.87B | 7.91B |
| COGS % of Revenue | 57.73% | 57.12% | 58.1% | 60.7% | 61.14% | 64.71% | 59.94% | 62.54% | 69.95% | - |
| Gross Profit | 4.47B▲ 0% | 4.76B▲ 6.4% | 4.76B▲ 0.0% | 4.59B▼ 3.7% | 4.72B▲ 2.9% | 3.55B▼ 24.8% | 4.15B▲ 16.9% | 3.98B▼ 4.0% | 3.38B▼ 15.2% | 3.41B▲ 0% |
| Gross Margin % | 42.27% | 42.88% | 41.9% | 39.3% | 38.86% | 35.29% | 40.06% | 37.46% | 30.05% | 30.11% |
| Gross Profit Growth % | 8.7% | 6.37% | 0.04% | -3.65% | 2.9% | -24.81% | 16.93% | -4% | -15.19% | - |
| Operating Expenses | 3.19B | 3.17B | 2.99B | 2.97B | 3.37B | 6.39B | 3.44B | 3.97B | 3.69B | 3.71B |
| OpEx % of Revenue | 30.1% | 28.61% | 26.31% | 25.45% | 27.75% | 63.58% | 33.23% | 37.33% | 32.79% | - |
| Selling, General & Admin | 2.63B | 2.62B | 2.54B | 2.47B | 2.85B | 3.1B | 2.95B | 2.97B | 2.89B | 2.92B |
| SG&A % of Revenue | 24.82% | 23.61% | 22.31% | 21.15% | 23.42% | 30.79% | 28.5% | 27.9% | 25.7% | - |
| Research & Development | 615M | 654M | 595M | 521M | 531M | 450M | 518M | 590M | 518M | 517M |
| R&D % of Revenue | 5.81% | 5.89% | 5.24% | 4.46% | 4.37% | 4.47% | 5% | 5.55% | 4.61% | - |
| Other Operating Expenses | -56M | -99M | -141M | -19M | -6M | 2.85B | -28M | 413M | 279M | -2M |
| Operating Income | 1.29B▲ 0% | 1.58B▲ 23.0% | 1.77B▲ 11.9% | 1.62B▼ 8.8% | 1.35B▼ 16.5% | -2.85B▼ 310.7% | 707M▲ 124.9% | 14M▼ 98.0% | -308M▼ 2300.0% | -300M▲ 0% |
| Operating Margin % | 12.17% | 14.27% | 15.6% | 13.84% | 11.11% | -28.29% | 6.82% | 0.13% | -2.74% | -2.65% |
| Operating Income Growth % | 72.89% | 22.98% | 11.87% | -8.8% | -16.46% | -310.74% | 124.85% | -98.02% | -2300% | - |
| EBITDA | 2.04B | 2.35B | 2.56B | 2.44B | 2.22B | -1.77B | 1.69B | 1.01B | 673M | 671M |
| EBITDA Margin % | 19.26% | 21.22% | 22.54% | 20.89% | 18.25% | -17.63% | 16.32% | 9.51% | 5.99% | 5.93% |
| EBITDA Growth % | 31.91% | 15.55% | 8.75% | -4.76% | -9.1% | -179.97% | 195.38% | -40.21% | -33.43% | -27.85% |
| D&A (Non-Cash Add-back) | 750M | 771M | 789M | 823M | 867M | 1.07B | 984M | 997M | 981M | 971M |
| EBIT | 1.19B | 1.71B | 1.08B | 1.45B | 1.32B | -2.83B | 750M | 119M | -215M | -227M |
| Net Interest Income | -55M | -45M | -71M | -134M | -193M | -394M | -439M | -341M | -238M | -240M |
| Interest Income | 30M | 48M | 40M | 19M | 14M | 19M | 69M | 67M | 52M | 35M |
| Interest Expense | 85M | 93M | 111M | 153M | 207M | 413M | 508M | 408M | 290M | 275M |
| Other Income/Expense | -188M | 33M | -802M | -324M | -234M | -403M | -465M | -303M | -197M | -208M |
| Pretax Income | 1.1B▲ 0% | 1.62B▲ 47.0% | 970M▼ 40.0% | 1.29B▲ 33.2% | 1.12B▼ 13.6% | -3.25B▼ 391.0% | 242M▲ 107.5% | -289M▼ 219.4% | -505M▼ 74.7% | -508M▲ 0% |
| Pretax Margin % | 10.39% | 14.57% | 8.54% | 11.07% | 9.19% | -32.3% | 2.34% | -2.72% | -4.49% | -4.49% |
| Income Tax | 491M | 65M | -41M | 182M | 83M | -135M | 61M | 37M | 395M | 473M |
| Effective Tax Rate % | 44.64% | 4.02% | -4.23% | 14.09% | 7.44% | 4.16% | 25.21% | -12.8% | -78.22% | -93.11% |
| Net Income | 602M▲ 0% | 1.55B▲ 156.8% | 1B▼ 35.3% | 1.1B▲ 10.1% | 1.28B▲ 16.5% | -2.43B▼ 289.5% | 2.66B▲ 209.2% | -649M▼ 124.4% | -957M▼ 47.5% | -1.1B▲ 0% |
| Net Margin % | 5.69% | 13.93% | 8.81% | 9.44% | 10.57% | -24.19% | 25.64% | -6.1% | -8.51% | -9.7% |
| Net Income Growth % | -87.88% | 156.81% | -35.25% | 10.09% | 16.52% | -289.49% | 209.17% | -124.44% | -47.46% | -96.07% |
| Net Income (Continuing) | 609M | 1.55B | 1.01B | 1.11B | 1.03B | -3.11B | 181M | -326M | -900M | -981M |
| Discontinued Operations | -7M | -6M | 0 | 0 | 262M | 692M | 2.48B | -312M | -57M | 0 |
| Minority Interest | -8M | 22M | 30M | 37M | 44M | 62M | 66M | 60M | -27M | -27M |
| EPS (Diluted) | 1.08▲ 0% | 2.97▲ 175.0% | 1.93▼ 35.0% | 2.13▲ 10.4% | 2.53▲ 18.8% | -4.83▼ 290.9% | 5.23▲ 208.3% | -1.27▼ 124.3% | -1.75▼ 37.8% | -2.13▲ 0% |
| EPS Growth % | -88.01% | 175% | -35.02% | 10.36% | 18.78% | -290.91% | 208.28% | -124.28% | -37.8% | -92.61% |
| EPS (Basic) | 1.11 | 3.04 | 1.97 | 2.17 | 2.56 | -4.83 | 5.25 | -1.27 | -1.75 | - |
| Diluted Shares Outstanding | 555M | 546M | 519M | 517M | 508M | 504M | 506M | 510M | 513M | 515M |
| Basic Shares Outstanding | 543M | 534M | 509M | 509M | 502M | 504M | 506M | 510M | 513M | 515M |
| Dividend Payout Ratio | 52.33% | 24.32% | 42.26% | 42.92% | 41.28% | - | 22.06% | - | - | - |
BAX Balance Sheet
Baxter International Inc. (BAX) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 7.26B | 5.96B | 7.5B | 8.41B | 8.87B | 8.01B | 9.6B | 8.85B | 6.87B | 6.85B |
| Cash & Short-Term Investments | 3.39B | 1.84B | 3.33B | 3.73B | 2.95B | 1.72B | 3.08B | 1.76B | 1.97B | 2.02B |
| Cash Only | 3.39B | 1.84B | 3.33B | 3.73B | 2.95B | 1.72B | 3.08B | 1.76B | 1.97B | 2.02B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.79B | 1.84B | 1.9B | 2.08B | 2.71B | 2.62B | 1.77B | 1.73B | 1.93B | 1.7B |
| Days Sales Outstanding | 61.83 | 60.51 | 60.91 | 64.95 | 81.53 | 95.2 | 62.43 | 59.37 | 62.72 | 57.88 |
| Inventory | 1.48B | 1.67B | 1.65B | 1.92B | 2.45B | 2.68B | 1.92B | 2.05B | 2.23B | 2.32B |
| Days Inventory Outstanding | 88.11 | 95.97 | 91.4 | 98.69 | 120.57 | 150.25 | 112.73 | 112.27 | 103.58 | 108.33 |
| Other Current Assets | 368M | 404M | 315M | 342M | 390M | 618M | 2.51B | 2.95B | 479M | 816M |
| Total Non-Current Assets | 9.85B | 9.76B | 10.69B | 11.61B | 24.65B | 20.28B | 18.68B | 16.93B | 13.18B | 13B |
| Property, Plant & Equipment | 4.59B | 4.53B | 5.12B | 5.33B | 5.81B | 5.24B | 3.21B | 3.18B | 3.19B | 3.19B |
| Fixed Asset Turnover | 2.31x | 2.45x | 2.22x | 2.19x | 2.09x | 1.92x | 3.23x | 3.35x | 3.53x | 3.61x |
| Goodwill | 3.1B | 3B | 3.03B | 3.22B | 9.84B | 6.45B | 5.79B | 5.28B | 4.93B | 4.9B |
| Intangible Assets | 1.37B | 1.41B | 1.47B | 1.67B | 7.79B | 6.79B | 5.92B | 5.22B | 4.37B | 4.22B |
| Long-Term Investments | 0 | 44M | 76M | 135M | 195M | 247M | 136M | 109M | 103M | 343M |
| Other Non-Current Assets | 379M | 292M | 372M | 512M | 642M | 1.27B | 3.36B | 2.94B | 596M | 2.56B |
| Total Assets | 17.11B▲ 0% | 15.72B▼ 8.1% | 18.19B▲ 15.7% | 20.02B▲ 10.0% | 33.52B▲ 67.4% | 28.29B▼ 15.6% | 28.28B▼ 0.0% | 25.78B▼ 8.8% | 20.05B▼ 22.2% | 19.85B▲ 0% |
| Asset Turnover | 0.62x | 0.71x | 0.62x | 0.58x | 0.36x | 0.36x | 0.37x | 0.41x | 0.56x | 0.55x |
| Asset Growth % | 10.07% | -8.13% | 15.73% | 10.04% | 67.45% | -15.61% | -0.04% | -8.82% | -22.21% | -70.1% |
| Total Current Liabilities | 2.82B | 2.81B | 3.23B | 3.33B | 4.24B | 4.75B | 6.5B | 6.51B | 2.97B | 3.69B |
| Accounts Payable | 920M | 998M | 892M | 1.04B | 1.25B | 1.11B | 881M | 968M | 999M | 1.09B |
| Days Payables Outstanding | 54.96 | 57.46 | 49.32 | 53.73 | 61.24 | 62.25 | 51.78 | 53.11 | 46.36 | 46.52 |
| Short-Term Debt | 3M | 4M | 541M | 406M | 511M | 1.4B | 2.67B | 2.75B | 84M | 842M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 32M | 162M | 154M | 128M | 131M | 141M | 141M |
| Other Current Liabilities | 648M | 576M | 584M | 555M | 751M | 618M | 1.64B | 1.53B | 1.22B | 1.76B |
| Current Ratio | 2.57x | 2.12x | 2.32x | 2.52x | 2.09x | 1.69x | 1.48x | 1.36x | 2.31x | 2.31x |
| Quick Ratio | 2.05x | 1.53x | 1.81x | 1.95x | 1.52x | 1.12x | 1.18x | 1.05x | 1.56x | 1.56x |
| Cash Conversion Cycle | 94.99 | 99.02 | 102.99 | 109.91 | 140.85 | 183.19 | 123.38 | 118.52 | 119.94 | 119.69 |
| Total Non-Current Liabilities | 5.17B | 5.04B | 7.05B | 7.96B | 20.16B | 17.65B | 13.3B | 12.25B | 10.98B | 10.14B |
| Long-Term Debt | 3.51B | 3.48B | 4.81B | 5.79B | 17.15B | 15.23B | 11.09B | 10.37B | 9.68B | 8.85B |
| Capital Lease Obligations | 0 | 0 | 510M | 501M | 522M | 447M | 265M | 243M | 244M | 679M |
| Deferred Tax Liabilities | 280M | 215M | 192M | 143M | 962M | 661M | 403M | 103M | 245M | 245M |
| Other Non-Current Liabilities | 1.39B | 1.34B | 1.49B | 1.5B | 1.45B | 1.27B | 1.51B | 1.49B | 783M | 4.52B |
| Total Liabilities | 8B | 7.85B | 10.28B | 11.29B | 24.4B | 22.39B | 19.81B | 18.76B | 13.95B | 13.83B |
| Total Debt | 3.51B | 3.48B | 5.96B | 6.8B | 18.31B | 17.2B | 14.11B | 13.45B | 10B | 9.69B |
| Net Debt | 118M | 1.65B | 2.63B | 3.07B | 15.36B | 15.48B | 11.04B | 11.69B | 8.04B | 7.67B |
| Debt / Equity | 0.39x | 0.44x | 0.75x | 0.78x | 2.01x | 2.92x | 1.67x | 1.91x | 1.64x | 1.64x |
| Debt / EBITDA | 1.72x | 1.48x | 2.33x | 2.79x | 8.26x | - | 8.35x | 13.30x | 14.86x | 14.44x |
| Net Debt / EBITDA | 0.06x | 0.70x | 1.03x | 1.26x | 6.93x | - | 6.53x | 11.56x | 11.94x | 11.94x |
| Interest Coverage | 13.94x | 18.39x | 9.74x | 9.44x | 6.39x | -6.86x | 1.48x | 0.29x | -0.74x | -0.83x |
| Total Equity | 9.12B▲ 0% | 7.87B▼ 13.7% | 7.91B▲ 0.6% | 8.73B▲ 10.3% | 9.12B▲ 4.5% | 5.89B▼ 35.4% | 8.47B▲ 43.6% | 7.02B▼ 17.1% | 6.1B▼ 13.1% | 6.02B▲ 0% |
| Equity Growth % | 10.1% | -13.71% | 0.58% | 10.29% | 4.53% | -35.37% | 43.65% | -17.05% | -13.13% | -42.39% |
| Book Value per Share | 16.43 | 14.41 | 15.24 | 16.88 | 17.95 | 11.70 | 16.74 | 13.77 | 11.89 | 11.68 |
| Total Shareholders' Equity | 9.12B | 7.84B | 7.88B | 8.69B | 9.08B | 5.83B | 8.4B | 6.96B | 6.13B | 6.04B |
| Common Stock | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M |
| Retained Earnings | 14.48B | 15.07B | 15.72B | 16.33B | 17.07B | 14.05B | 16.11B | 14.93B | 13.71B | 13.69B |
| Treasury Stock | -7.98B | -9.99B | -10.76B | -11.05B | -11.49B | -11.39B | -11.23B | -11.06B | -10.87B | 0 |
| Accumulated OCI | -4B | -3.82B | -3.71B | -3.31B | -3.38B | -3.83B | -3.55B | -4.01B | -3.75B | -3.8B |
| Minority Interest | -8M | 22M | 30M | 37M | 44M | 62M | 66M | 60M | -27M | -27M |
BAX Cash Flow Statement
Baxter International Inc. (BAX) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 1.71B | 2.02B | 2.1B | 1.87B | 2.22B | 1.21B | 1.73B | 1.02B | 845M | 845M |
| Operating CF Margin % | 16.19% | 18.17% | 18.52% | 16% | 18.29% | 12.04% | 16.66% | 9.58% | 7.52% | - |
| Operating CF Growth % | 3.63% | 17.68% | 4.31% | -11.22% | 18.95% | -45.5% | 42.53% | -40.96% | -17.08% | 202.04% |
| Net Income | 609M | 1.55B | 1.01B | 1.11B | 1.03B | -3.11B | 181M | -326M | -957M | -1.1B |
| Depreciation & Amortization | 750M | 771M | 789M | 823M | 867M | 1.07B | 984M | 997M | 981M | 971M |
| Stock-Based Compensation | 107M | 115M | 122M | 130M | 146M | 140M | 115M | 114M | 117M | 117M |
| Deferred Taxes | 211M | -263M | -310M | -88M | -161M | -260M | -256M | -262M | 77M | 248M |
| Other Non-Cash Items | 147M | 96M | 917M | 165M | 394M | 3.98B | 541M | 732M | 735M | 491M |
| Working Capital Changes | -110M | -248M | -425M | -272M | -57M | -606M | 161M | -236M | -108M | 190M |
| Change in Receivables | 30M | -12M | -52M | -119M | -170M | -48M | -38M | -35M | -132M | -6M |
| Change in Inventory | 76M | -197M | 4M | -162M | -27M | -198M | -128M | -201M | -119M | -92M |
| Change in Payables | 0 | 0 | -23M | 57M | 105M | -67M | 92M | 112M | 3M | 89M |
| Cash from Investing | -1.29B | -916M | -1.1B | -1.18B | -11.2B | -931M | 3.21B | -626M | 2.84B | -557M |
| Capital Expenditures | -616M | -659M | -696M | -709M | -691M | -635M | -436M | -460M | -513M | -537M |
| CapEx % of Revenue | 5.82% | 5.94% | 6.13% | 6.07% | 5.69% | 6.31% | 4.21% | 4.32% | 4.56% | - |
| Acquisitions | -686M | -268M | -418M | -494M | -10.5B | -263M | -6M | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 10M | 11M | 14M | 24M | -7M | -33M | 3.65B | -200M | 3.35B | -20M |
| Cash from Financing | 93M | -2.6B | 498M | -345M | 8.24B | -1.44B | -3.49B | -1.08B | -4.22B | -1B |
| Debt Issued (Net) | 665M | 0 | 1.88B | 478M | 9.33B | -899M | -2.94B | -531M | -3.79B | -666M |
| Equity Issued (Net) | -564M | -2.45B | -1.27B | -500M | -413M | 95M | 95M | 71M | 30M | 20M |
| Dividends Paid | -315M | -376M | -423M | -473M | -530M | -573M | -586M | -590M | -348M | -266M |
| Share Repurchases | -564M | -2.45B | -1.27B | -500M | -600M | -32M | 0 | 0 | 0 | 0 |
| Other Financing | 307M | 225M | 308M | 150M | -138M | -61M | -63M | -31M | -107M | -89M |
| Net Change in Cash | 617M▲ 0% | -1.56B▼ 353.6% | 1.5B▲ 195.7% | 401M▼ 73.2% | -780M▼ 294.5% | -1.23B▼ 58.2% | 1.48B▲ 219.6% | -784M▼ 153.1% | -446M▲ 43.1% | -277M▲ 0% |
| Free Cash Flow | 1.1B▲ 0% | 1.36B▲ 23.7% | 1.41B▲ 3.7% | 1.16B▼ 17.7% | 1.53B▲ 32.1% | 576M▼ 62.4% | 1.29B▲ 124.0% | 559M▼ 56.7% | 323M▼ 42.2% | 501M▲ 0% |
| FCF Margin % | 10.37% | 12.24% | 12.39% | 9.93% | 12.61% | 5.73% | 12.45% | 5.26% | 2.87% | 4.43% |
| FCF Growth % | 17.43% | 23.68% | 3.68% | -17.68% | 32.1% | -62.38% | 123.96% | -56.67% | -42.22% | 162.3% |
| FCF per Share | 1.98 | 2.49 | 2.71 | 2.24 | 3.01 | 1.14 | 2.55 | 1.10 | 0.63 | 0.63 |
| FCF Conversion (FCF/Net Income) | 2.85x | 1.30x | 2.10x | 1.70x | 1.73x | -0.50x | 0.65x | -1.57x | -0.88x | -0.46x |
| Interest Paid | 80M | 94M | 103M | 0 | 0 | 355M | 484M | 401M | 0 | 0 |
| Taxes Paid | 253M | 302M | 294M | 0 | 0 | 168M | 174M | 223M | 0 | 0 |
BAX Key Ratios
Baxter International Inc. (BAX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 6.92% | 18.21% | 12.69% | 13.25% | 14.39% | -32.41% | 36.98% | -8.38% | -14.58% | -16.5% |
| Return on Invested Capital (ROIC) | 11.04% | 12.67% | 13.26% | 10.85% | 5.58% | -9.31% | 2.59% | 0.06% | -1.41% | -1.41% |
| Gross Margin | 42.27% | 42.88% | 41.9% | 39.3% | 38.86% | 35.29% | 40.06% | 37.46% | 30.05% | 30.11% |
| Net Margin | 5.69% | 13.93% | 8.81% | 9.44% | 10.57% | -24.19% | 25.64% | -6.1% | -8.51% | -9.7% |
| Debt / Equity | 0.39x | 0.44x | 0.75x | 0.78x | 2.01x | 2.92x | 1.67x | 1.91x | 1.64x | 1.64x |
| Interest Coverage | 13.94x | 18.39x | 9.74x | 9.44x | 6.39x | -6.86x | 1.48x | 0.29x | -0.74x | -0.83x |
| FCF Conversion | 2.85x | 1.30x | 2.10x | 1.70x | 1.73x | -0.50x | 0.65x | -1.57x | -0.88x | -0.46x |
| Revenue Growth | 4.14% | 4.87% | 2.37% | 2.74% | 4.05% | -17.2% | 3.01% | 2.66% | 5.72% | 5.1% |
BAX SEC Filings & Documents
Baxter International Inc. (BAX) SEC filings — annual & quarterly reports (10-K, 10-Q)
BAX Frequently Asked Questions
Baxter International Inc. (BAX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Baxter International Inc. (BAX) reported $11.32B in revenue for fiscal year 2025. This represents a 108% increase from $5.44B in 1996.
Baxter International Inc. (BAX) grew revenue by 5.7% over the past year. This is steady growth.
Baxter International Inc. (BAX) reported a net loss of $1.10B for fiscal year 2025.
Dividend & Returns
Yes, Baxter International Inc. (BAX) pays a dividend with a yield of 4.00%. This makes it attractive for income-focused investors.
Baxter International Inc. (BAX) has a return on equity (ROE) of -14.6%. Negative ROE indicates the company is unprofitable.
Baxter International Inc. (BAX) generated $501.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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