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Baxter International BAX Reportable Segment — Segment operating income

Other segment segments

Medical Products & Therapies
$186M-23.8%
Healthcare Systems & Technologies
$66M-29.0%
Pharmaceuticals
$46M-27.0%

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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$14.66B+25.0%
Enterprise value$12.86B+25.3%
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:OperatingIncomeLoss.

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, 2026Three Months Ended March 31, 2025
Medical Products & Therapies$186$244
Healthcare Systems & Technologies6693
Pharmaceuticals4663
Total reportable segment operating income298400
Other119
Unallocated corporate costs(12)(17)
Intangible asset amortization expense(146)(155)
Legal matters(11)

Item 1. Financial Statements (unaudited)

FAQ

What is Baxter International's reportable segment — segment operating income?
Baxter International (BAX) reported reportable segment — segment operating income of $298M in Q1 2026.
How has Baxter International's reportable segment — segment operating income changed year-over-year?
Baxter International's reportable segment — segment operating income decreased by 25.5% year-over-year, from $400M to $298M.
What is the long-term trend for Baxter International's reportable segment — segment operating income?
Over 3 years (2022 to 2025), Baxter International's reportable segment — segment operating income has grown at a -16.9% compound annual growth rate (CAGR), from -$2.85B to $1.63B.
What does reportable segment — segment operating income mean?
This represents the core profitability generated by the company's primary business segments before accounting for corporate overhead, interest, taxes, and non-recurring items. It serves as a key indicator of the operational efficiency and underlying health of the company's product lines and service offerings.

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