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Baxter International BAX Q3 2025 earnings

Reported October 30, 2025 · Before market open

Revenue estimate$2.8B
EPS estimate$0.60

Next report

Jul 30, 2026 (In 5 days)
Revenue estimate$2.8B
EPS estimate$0.36

Financials

Q3 2025

Income statement

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Revenue$2.8B+5.0%
Gross profit$950.0M-8.0%
Operating income$172.0M+11.0%
Net income-$46.0M-133%
EPS (diluted)-$0.09-133%

Balance sheet

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Cash & equivalents$1.7B+21.5%
Total debt$214.0M-98.4%
Total equity$7.2B-8.0%
Total assets$21.1B-21.0%

Cash flow

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Operating cash flow$237.0M-6.3%
CapEx$128.3M+15.0%
Free cash flow$83.0M-42.1%

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$11.7B-39.6%
Enterprise value$10.18B-67.3%
P/S1.1×-0.8×

Profitability

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Gross margin34.1%-4.8pp
Net margin-3.1%-4.1pp
FCF margin3.6%-6.2pp

Returns & leverage

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Return on equity-4.5%-5.9pp
Debt / equity-1.6×
Current ratio1.8×+0.4×

Segments

By product

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Infusion Therapies & Technologies$1.0B-4.4%
Care & Connectivity Solutions$473.0M+3.7%
Injectables & Anesthesia$333.0M+3.7%
Advanced Surgery$306.0M+12.5%
Front Line Care$300.0M+1.4%

By segment

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Medical Products & Therapies$1.3B-1.0%
Healthcare Systems & Technologies$773.0M+2.8%
Pharmaceuticals$632.0M+7.5%

Versus estimates

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Questions, answered.

When did Baxter International report Q3 2025 earnings?
Baxter International (BAX) reported Q3 2025 earnings on October 30, 2025 before market open.
What were Baxter International's Q3 2025 revenue and EPS?
Baxter International reported revenue of $2.8B and diluted EPS of $0.69 for Q3 2025.
Did Baxter International beat estimates in Q3 2025?
Revenue beat the consensus estimate of $2.8B by $10.2M. EPS beat the consensus estimate of $0.60 by $0.09.
How did Baxter International's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 5.0% from $2.7B a year earlier and diluted EPS declined 13.8% from $0.80.
Where can I find Baxter International's Q3 2025 SEC filings?
You can read the 10-Q periodic report (0001628280-25-048897) directly on SEC EDGAR. The filing index links above go to sec.gov.