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Baxter International BAX Medical Products & Therapies — Net Sales

Other segment segments

Healthcare Systems & Technologies
$705M+0.1%
Pharmaceuticals
$621M+6.9%

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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 medical products & therapies — net sales?
Baxter International (BAX) reported medical products & therapies — net sales of $1.29B in Q1 2026.
How has Baxter International's medical products & therapies — net sales changed year-over-year?
Baxter International's medical products & therapies — net sales increased by 1.8% year-over-year, from $1.26B to $1.29B.
What is the long-term trend for Baxter International's medical products & therapies — net sales?
Over 3 years (2021 to 2025), Baxter International's medical products & therapies — net sales has grown at a 3.2% compound annual growth rate (CAGR), from $4.82B to $5.3B.
What does medical products & therapies — net sales mean?
The total revenue generated by the Medical Products & Therapies segment from the sale of medical instruments and supplies, net of returns, allowances, and discounts. This is the primary indicator of the segment's market demand and commercial success.

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