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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$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:ResearchAndDevelopmentExpense.

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 / Medical Products & TherapiesThree Months Ended March 31, 2026 / Healthcare Systems & TechnologiesThree Months Ended March 31, 2026 / PharmaceuticalsThree Months Ended March 31, 2025 / Medical Products & TherapiesThree Months Ended March 31, 2025 / Healthcare Systems & TechnologiesThree Months Ended March 31, 2025 / Pharmaceuticals
Net sales$1,285$705$621$1,262$704$581
Cost of sales781390458694356396
Selling, general and administrative expenses290209102286217103
Research and development expenses544922594526
Other segment items(26)(9)(7)(21)(7)(7)
Segment operating income$186$66$46$244$93$63

Item 1. Financial Statements (unaudited)

FAQ

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?
Represents investments in the innovation, design, and clinical validation of new medical technologies and digital health applications. This spending is critical for maintaining long-term competitiveness and product pipeline growth.

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