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Baxter International BAX Healthcare Systems & Technologies — Research and development expenses

Other segment segments

Medical Products & Therapies
$54M-8.5%
Pharmaceuticals
$22M-15.4%

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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$10.27B-50.6%
Enterprise value$8.48B-55.6%
P/S0.9×-1.0×

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 / equity0×0.0×
Current ratio1.9×-0.2×

Where this comes from

Reported directly by Baxter International in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Baxter International’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Baxter International's healthcare systems & technologies — research and development expenses?
Baxter International (BAX) reported healthcare systems & technologies — research and development expenses of $49M in Q1 2026.
How has Baxter International's healthcare systems & technologies — research and development expenses changed year-over-year?
Baxter International's healthcare systems & technologies — research and development expenses increased by 8.9% year-over-year, from $45M to $49M.
What is the long-term trend for Baxter International's healthcare systems & technologies — research and development expenses?
Over 3 years (2022 to 2025), Baxter International's healthcare systems & technologies — research and development expenses has grown at a 7.0% compound annual growth rate (CAGR), from $155M to $190M.
What does healthcare systems & technologies — research and development expenses mean?
Spending on developing new products and improving existing technologies within the segment.
How do you interpret healthcare systems & technologies — research and development expenses?
Higher investment signals a commitment to innovation, though it may temporarily reduce current operating margins.
How does healthcare systems & technologies — research and development expenses compare across companies?
R&D intensity is a key metric for comparing innovation-led growth strategies in the medtech sector.