stockrowBaxter International Inc.
BAX Healthcare Medical Instruments & Supplies
Baxter International Inc.’s revenue for fiscal 2025 (year ended December 2025) was $11.2 billion, up 5.72% from fiscal 2024.
- Revenue
- +4.97%
- EPS
- +731.9%
- Free cash flow
- +255.6%
- Total debt
- −9.48%
Quarter to September 2026, against a year earlier
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Baxter International Inc. (BAX) Gross margin
Baxter International Inc.'s gross margin over the twelve months to 30 September 2026 was 30.1%, up 0.0 percentage points from fiscal 2025 (30.1%). Over the past ten years it has ranged from 30.1% (fiscal 2025) to 42.9% (fiscal 2018) — the current reading is the lowest in ten years. That is below the Medical Instruments & Supplies industry median of 53.6% and below the Healthcare sector median of 53.9%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 30.1% | (7.41) |
| FY2024 | 37.5% | (2.60) |
| FY2023 | 40.1% | 4.77 |
| FY2022 | 35.3% | (3.57) |
| FY2021 | 38.9% | (0.44) |
| FY2020 | 39.3% | (2.60) |
| FY2019 | 41.9% | (0.98) |
| FY2018 | 42.9% | 0.61 |
| FY2017 | 42.3% | 1.77 |
| FY2016 | 40.5% | (1.09) |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Sep 2026 | 33.4% | (1.46) |
| Jun 2026 | 34.9% | 1.87 |
| Mar 2026 | 33.0% | 13.59 |
| Dec 2025 | 19.4% | (14.11) |
| 43 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| ALGN Align Technology, Inc. compare | 69.1% |
| COO The Cooper Companies, Inc. compare | 65.9% |
| BLCO Bausch + Lomb Corporation compare | 62.6% |
| RGEN Repligen Corporation compare | 53.5% |
| WST West Pharmaceutical Services, Inc. compare | 37.6% |
| ATR AptarGroup, Inc. compare | 35.8% |
| AVTR Avantor, Inc. compare | 31.6% |
| BAX Baxter International Inc. | 30.1% |
| SOLV Solventum Corporation compare | 0.00% |
| Medical Instruments & Supplies industry median | 53.6% |
| Healthcare sector median | 53.9% |
| Market median | 45.1% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
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