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Saturday 17 October 2026 Export BAX’s income statement to Excel — free account

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.

25.33 0.43 −1.67%
Market cap
$13.3B
P/E
0.0×
Fwd P/E
44.7×
Dividend yield
0.16%
F-score
4/9
Altman Z
2.12
Beneish M
−2.67
Dividend safety
0/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Baxter International Inc. (BAX) Operating margin

Alert me on Operating margin

Baxter International Inc.'s operating margin over the twelve months to 30 June 2026 was −2.39%, up 0.4 percentage points from fiscal 2025 (−2.74%). Over the past ten years it has ranged from −28.3% (fiscal 2022) to 15.6% (fiscal 2019); the current reading is higher than 18% of that period. That is below the Medical Instruments & Supplies industry median of 1.07% and below the Healthcare sector median of 0.00%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 −2.74% (2.87)
FY2024 0.13% (6.69)
FY2023 6.82% 35.11
FY2022 −28.3% (39.40)
FY2021 11.1% (2.73)
FY2020 13.8% (1.76)
FY2019 15.6% 1.33
FY2018 14.3% 2.10
FY2017 12.2% 4.84
FY2016 7.33% 2.83

Quarterly newest first

Period Operating margin Change (points)
Jun 2026 7.33% 4.89
Mar 2026 2.44% 26.95
Dec 2025 −24.5% (30.58)
Sep 2025 6.07% (0.73)
42 more quarters

Against its own ten years

Low −28.3% High 15.6%
Ten-year median 7.33%
Current reading's percentile 17

Operating margin against peers

Company Operating margin
SOLV Solventum Corporation compare 25.0%
WST West Pharmaceutical Services, Inc. compare 20.5%
ALGN Align Technology, Inc. compare 13.2%
COO The Cooper Companies, Inc. compare 12.8%
ATR AptarGroup, Inc. compare 12.1%
RGEN Repligen Corporation compare 8.23%
BLCO Bausch + Lomb Corporation compare 6.07%
BAX Baxter International Inc. −2.39%
AVTR Avantor, Inc. compare −4.59%
Medical Instruments & Supplies industry median 1.07%
Healthcare sector median 0.00%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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