What is Baxter International's free cash flow?

Baxter International (BAX) reported free cash flow of $83M in Q4 2025.

How has Baxter International's free cash flow changed year-over-year?

Baxter International's free cash flow decreased by 42.1% year-over-year, from $143.25M to $83M.

What is the long-term trend for Baxter International's free cash flow?

Over 4 years (2021 to 2025), Baxter International's free cash flow has grown at a -31.8% compound annual growth rate (CAGR), from $1.53B to $332M.

Baxter International BAX Free cash flow

Discontinued — last reported Q4 '25

Free cash flow at other companies

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$415M+227%

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$2.09B+0.8%

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$316M-45.9%

The Cooper Companies, Inc.COO

——

STERISSTE

——

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%

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 / equity0×0.0×

Current ratio1.9×-0.2×

Where this comes from

Calculated from Baxter International’s reported figures.

$584.0Mnet cash from operating−$128.3Mcapital expenditures=$83M

The official record: Baxter International’s 10-K, filed February 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Baxter International's free cash flow?: Baxter International (BAX) reported free cash flow of $83M in Q4 2025.
How has Baxter International's free cash flow changed year-over-year?: Baxter International's free cash flow decreased by 42.1% year-over-year, from $143.25M to $83M.
What is the long-term trend for Baxter International's free cash flow?: Over 4 years (2021 to 2025), Baxter International's free cash flow has grown at a -31.8% compound annual growth rate (CAGR), from $1.53B to $332M.