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Baxter International BAX Advanced Surgery — Net Sales

Other product segments

Infusion Therapies & Technologies
$981M-1.3%
Care & Connectivity Solutions
$435M+1.9%
Drug Compounding
$320M+30.1%
Injectables & Anesthesia
$301M-10.1%
Front Line Care
$270M-2.5%

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Other financials

Income statement

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Revenue$2.7B+2.9%
Gross profit$891.0M+3.5%
Operating income$66.0M+13.8%
Net income-$15.0M-112%
EPS (diluted)-$0.03-112%

Balance sheet

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Cash & equivalents$2.0B-12.1%
Total debt$224.0M-8.9%
Total equity$6.0B-14.7%
Total assets$19.8B-6.8%

Cash flow

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Operating cash flow$213.0M+210%
CapEx$128.3M+15.0%
Free cash flow$83.0M-42.1%

Valuation

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Market cap$14.13B+22.3%
Enterprise value$12.33B+22.1%
P/S1.3×+0.2×

Profitability

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Gross margin30.1%-5.9pp
Operating margin-2.7%
Net margin-9.7%+62.5pp
FCF margin3%-2.4pp

Returns & leverage

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Return on equity-16.7%-76.7pp
Debt / equity0.0×
Current ratio1.9×-0.2×

Where this comes from

Reported directly by Baxter International in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Baxter International’s 10-Q, filed April 30, 2026.

Filed
Apr 30, 2026, 4:50 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-028962
(in millions)Three Months Ended March 31, 2026 / U.S.Three Months Ended March 31, 2026 / InternationalThree Months Ended March 31, 2026 / TotalThree Months Ended March 31, 2025 / U.S.Three Months Ended March 31, 2025 / InternationalThree Months Ended March 31, 2025 / Total
Infusion Therapies & Technologies$526$455$981$584$410$994
Advanced Surgery165139304145123268
Medical Products & Therapies6915941,2857295331,262
Care & Connectivity Solutions315120435316111427
Front Line Care1987227020275277
Healthcare Systems & Technologies513192705518186704
Injectables & Anesthesia180121301195140335
Drug Compounding320320246246

Item 1. Financial Statements (unaudited)

FAQ

What is Baxter International's advanced surgery — net sales?
Baxter International (BAX) reported advanced surgery — net sales of $304M in Q1 2026.
How has Baxter International's advanced surgery — net sales changed year-over-year?
Baxter International's advanced surgery — net sales increased by 13.4% year-over-year, from $268M to $304M.
What is the long-term trend for Baxter International's advanced surgery — net sales?
Over 4 years (2021 to 2025), Baxter International's advanced surgery — net sales has grown at a 5.2% compound annual growth rate (CAGR), from $977M to $1.2B.
What does advanced surgery — net sales mean?
This metric represents the total revenue generated from the sale of advanced surgical products and specialized medical instruments after accounting for returns, allowances, and discounts. It serves as a primary indicator of the market demand and commercial success of the company's surgical portfolio within the healthcare sector.

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