Flash FinanceUS
Market closed · weekend S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026

Baxter International (BAX)

NYSE Health Care Health Care Equipment S&P 500
$25.79
+0.14 (+0.55%)
Close of Nov 06, 2026 · end-of-day data
Source: Baxter International's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$10.16B$10.58B$11.10B$11.36B$11.67B$12.15B$10.06B$10.36B$10.64B$11.24B
Cost of revenue$6.05B$6.11B$6.34B$6.60B$7.09B$7.43B$6.51B$6.21B$6.65B$7.87B
Gross profit$4.12B$4.47B$4.76B$4.76B$4.59B$4.72B$3.55B$4.15B$3.98B$3.38B
Research & development$646.00M$615.00M$654.00M$595.00M$521.00M$531.00M$450.00M$518.00M$590.00M$518.00M
Selling, general & admin$2.73B$2.63B$2.62B$2.54B$2.47B$2.85B$3.10B$2.95B$2.97B$2.89B
Operating income$745.00M$1.29B$1.58B$1.77B$1.62B$1.35B-$2.85B$707.00M$14.00M-$308.00M
Interest expense$89.00M$85.00M$93.00M$111.00M$153.00M$207.00M$413.00M$508.00M$408.00M$290.00M
Pre-tax income$4.95B$1.10B$1.62B$970.00M$1.29B$1.12B-$3.25B$242.00M-$289.00M-$505.00M
Income tax-$12.00M$491.00M$65.00M-$41.00M$182.00M$83.00M-$135.00M$61.00M$37.00M$395.00M
Net income$4.96B$602.00M$1.55B$1.00B$1.10B$1.28B-$2.43B$2.66B-$649.00M-$957.00M
EBITDA$1.54B$2.04B$2.35B$2.56B$2.44B$2.22B-$1.77B$1.69B$1.01B$673.00M
EPS (basic)$9.09$1.11$2.90$1.97$2.17$2.56$-4.83$5.25$-1.27$-1.87
EPS (diluted)$9.01$1.08$2.83$1.93$2.13$2.53$-4.83$5.23$-1.27$-1.87
Diluted shares551.00M555.00M546.00M519.00M517.00M508.00M504.00M508.00M510.00M513.00M
Gross margin40.5%42.3%42.9%41.9%39.3%38.9%35.3%40.1%37.5%30.1%
Operating margin7.3%12.2%14.3%15.6%13.8%11.1%-28.3%6.8%0.1%-2.7%
Net margin48.9%5.7%13.9%8.8%9.4%10.6%-24.2%25.6%-6.1%-8.5%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$2.80B$3.39B$1.84B$3.33B$3.73B$2.95B$1.62B$3.08B$1.76B$1.97B
Receivables——$1.84B$1.90B$2.01B$2.63B$2.57B$1.72B$1.68B$1.86B
Inventory$1.43B$1.48B$1.67B$1.65B$1.92B$2.45B$2.68B$1.92B$2.05B$2.23B
Total current assets$6.57B$7.26B$5.96B$7.50B$8.41B$8.87B$8.01B$9.60B$8.85B$6.87B
Goodwill$2.60B$3.10B$3.00B$3.03B$3.22B$9.84B$6.45B$5.79B$5.28B$4.93B
Total assets$15.55B$17.11B$15.72B$18.19B$20.02B$33.52B$28.29B$28.28B$25.78B$20.05B
Total current liabilities$2.74B$2.82B$2.81B$3.23B$3.33B$4.24B$4.75B$6.50B$6.51B$2.97B
Short-term debt$3.00M$3.00M$2.00M$226.00M$0$301.00M$299.00M$0$2.13B$1.00M
Long-term debt$2.78B$3.51B$3.48B$4.81B$6.23B$17.75B$16.70B$13.86B$13.18B$9.44B
Total debt$2.78B$3.51B$3.48B$5.04B$6.23B$18.05B$17.00B$13.86B$15.31B$9.44B
Total liabilities$7.26B$8.00B$7.85B$10.28B$11.29B$24.40B$22.39B$19.81B$18.76B$13.95B
Shareholders' equity$8.29B$9.12B$7.84B$7.88B$8.69B$9.08B$5.83B$8.40B$6.96B$6.13B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$1.65B$1.71B$2.02B$2.10B$1.87B$2.22B$1.21B$1.73B$1.02B$845.00M
Capital expenditures$719.00M$616.00M$659.00M$696.00M$709.00M$691.00M$377.00M$432.00M$446.00M$513.00M
Free cash flow$935.00M$1.10B$1.36B$1.41B$1.16B$1.53B$834.00M$1.29B$573.00M$332.00M
Investing cash flow-$715.00M-$1.29B-$916.00M-$1.10B-$1.18B-$11.20B-$931.00M$3.21B-$626.00M$2.84B
Financing cash flow-$324.00M$93.00M-$2.60B$498.00M-$345.00M$8.24B-$1.44B-$3.49B-$1.08B-$4.22B
Dividends paid$268.00M$315.00M$376.00M$423.00M$473.00M$530.00M$573.00M$586.00M$590.00M$348.00M
Share buybacks$292.00M$564.00M$2.45B$1.27B$500.00M$600.00M$32.00M$0$0—
Stock-based compensation$115.00M$107.00M$115.00M$122.00M$130.00M$146.00M$140.00M$115.00M$114.00M$117.00M
Depreciation & amortization$800.00M$750.00M$771.00M$789.00M$823.00M$867.00M$1.07B$984.00M$997.00M$981.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.