Baxter 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. In the quarter to June 2026, revenue grew 5.34%, EPS grew 33.3%, free cash flow grew 119.5% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for three consecutive years.
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Baxter International Inc. (BAX) Net margin
Baxter International Inc.'s net margin over the twelve months to 30 June 2026 was −9.27%, down 0.8 percentage points from fiscal 2025 (−8.51%). Over the past ten years it has ranged from −24.2% (fiscal 2022) to 48.9% (fiscal 2016); the current reading is higher than 18% of that period. That is below the Medical Instruments & Supplies industry median of −1.61% and below the Healthcare sector median of 0.00%.
Net margin, annual
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Annual newest first
| Period | Net margin | Change (points) |
|---|---|---|
| FY2025 | −8.51% | (2.41) |
| FY2024 | −6.10% | (31.74) |
| FY2023 | 25.6% | 49.83 |
| FY2022 | −24.2% | (34.76) |
| FY2021 | 10.6% | 1.13 |
| FY2020 | 9.44% | 0.63 |
| FY2019 | 8.81% | (5.12) |
| FY2018 | 13.9% | 8.24 |
| FY2017 | 5.69% | (43.16) |
| FY2016 | 48.9% | 39.14 |
Quarterly newest first
| Period | Net margin | Change (points) |
|---|---|---|
| Jun 2026 | 4.26% | 4.82 |
| Mar 2026 | −0.56% | 37.37 |
| Dec 2025 | −37.9% | (36.31) |
| Sep 2025 | −1.62% | (4.86) |
| 42 more quarters | Free account |
Against its own ten years
Net margin against peers
| Company | Net margin |
|---|---|
| SOLV Solventum Corporation compare | 17.3% |
| WST West Pharmaceutical Services, Inc. compare | 17.0% |
| COO The Cooper Companies, Inc. compare | 13.5% |
| ALGN Align Technology, Inc. compare | 9.99% |
| ATR AptarGroup, Inc. compare | 9.22% |
| RGEN Repligen Corporation compare | 5.29% |
| BLCO Bausch + Lomb Corporation compare | −3.21% |
| AVTR Avantor, Inc. compare | −8.81% |
| BAX Baxter International Inc. | −9.27% |
| Medical Instruments & Supplies industry median | −1.61% |
| Healthcare sector median | 0.00% |
| Market median | 0.45% |
What Net margin is
Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.
Net Income Allotted to Shareholders ÷ Revenue
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