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Baxter International BAX Infusion Therapies & Technologies — Net Sales

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Drug Compounding
$320M+30.1%
Advanced Surgery
$304M+13.4%
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$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×
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 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 infusion therapies & technologies — net sales?
Baxter International (BAX) reported infusion therapies & technologies — net sales of $981M in Q1 2026.
How has Baxter International's infusion therapies & technologies — net sales changed year-over-year?
Baxter International's infusion therapies & technologies — net sales decreased by 1.3% year-over-year, from $994M to $981M.
What is the long-term trend for Baxter International's infusion therapies & technologies — net sales?
Over 3 years (2021 to 2025), Baxter International's infusion therapies & technologies — net sales has grown at a 2.2% compound annual growth rate (CAGR), from $3.84B to $4.1B.
What does infusion therapies & technologies — net sales mean?
The total revenue earned from the company's infusion therapy devices, software, and related medical supplies.
How do you interpret infusion therapies & technologies — net sales?
An increase indicates growing demand for the company's infusion solutions or successful expansion of its installed base, while a decrease may signal competitive pressure, pricing erosion, or reduced hospital capital expenditure.
How does infusion therapies & technologies — net sales compare across companies?
Comparable to medical device revenue segments at peers like Becton Dickinson or ICU Medical, where performance is tied to hospital procurement cycles and the shift toward smart, connected infusion technology.