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Baxter International BAX Pharmaceuticals — Cost of Sales

Other segment segments

Medical Products & Therapies
$781M+12.5%
Healthcare Systems & Technologies
$390M+9.6%

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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:CostOfGoodsAndServicesSold.

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 pharmaceuticals — cost of sales?
Baxter International (BAX) reported pharmaceuticals — cost of sales of $458M in Q1 2026.
How has Baxter International's pharmaceuticals — cost of sales changed year-over-year?
Baxter International's pharmaceuticals — cost of sales increased by 15.7% year-over-year, from $396M to $458M.
What is the long-term trend for Baxter International's pharmaceuticals — cost of sales?
Over 3 years (2022 to 2025), Baxter International's pharmaceuticals — cost of sales has grown at a 11.2% compound annual growth rate (CAGR), from $1.29B to $1.78B.
What does pharmaceuticals — cost of sales mean?
Includes all direct costs associated with the production and delivery of pharmaceutical products, such as raw materials, manufacturing labor, and overhead. Monitoring this helps evaluate the segment's production efficiency and gross margin potential.

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