What is Baxter International's revenue?

Baxter International (BAX) generated $11.3B in revenue over the trailing twelve months, up 5.1% year over year.

Is Baxter International profitable?

Baxter International is not currently profitable: it reported a net loss of $1.1B over the trailing twelve months, a -9.7% net margin.

What are Baxter International's profit margins?

Gross margin is 30.1% and operating margin is -2.7%, with a -9.7% net margin.

What is Baxter International's earnings per share?

Baxter International's diluted EPS over the trailing twelve months is $-2.14.

Where does Baxter International's income statement data come from?

Every line is extracted from Baxter International's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.

Baxter International BAX Income Statement

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Total revenue	$11.24B+5.7%	$10.64B+2.7%	$10.36B-28.6%	$14.51B+19.4%
Subscription revenue	$8M-20.0%	$10M0.0%	$10M—	——
Rental income	$350M-7.9%	$380M-15.4%	$449M+12.0%	$401M+197%
Total cost of revenue	$7.87B+18.2%	$6.65B-16.9%	$8B+12.0%	$7.15B-3.8%
Gross profit	$3.38B-15.2%	$3.98B+69.2%	$2.35B-52.9%	$5B+6.0%
Gross margin	30.1%-7.4pp	37.5%+14.7pp	22.7%-11.8pp	34.5%-4.4pp
Research and development	$518M-12.2%	$590M+0.2%	$589M+30.6%	$451M-15.1%
Selling, general and administrative	$2.89B-2.6%	$2.97B-12.4%	$3.39B+9.2%	$3.1B+9.0%
Compensation and benefits	$117M+2.6%	$114M-0.9%	$115M-17.9%	$140M-4.1%
Depreciation and amortization	$981M-1.6%	$997M+1.3%	$984M-8.2%	$1.07B+23.6%
Provision for credit losses	$6M+186%	-$7M-16.7%	-$6M-100%	-$3M-250%
Impairment charges	$290M+480%	$50M—	——	——
Other operating expenses	$373M-2.4%	$382M+6.7%	$358M-7.7%	$388M+2.1%
Operating income	-$308M—	——	$595M+122%	-$2.77B-305%
Operating margin	-2.7%—	——	5.7%+24.8pp	-19.1%-30.2pp
Interest expense	$290M-45.9%	$536M-31.7%	$785M+90.1%	$413M+99.5%
Other income (expense), net	-$238M+30.2%	-$341M+24.6%	-$452M-14.7%	-$394M-861%
Net investment gains (losses)	$1M-66.7%	$3M-57.1%	$7M-36.4%	$11M+257%
Income before income taxes	-$505M-74.7%	-$289M-349%	$116M+104%	-$3.17B-365%
Income tax expense	$395M—	——	$53M+144%	-$120M—
Net income	-$957M-47.5%	-$649M-124%	$2.66B+209%	-$2.43B-289%
Net margin	-8.5%-2.4pp	-6.1%-31.7pp	25.6%+42.4pp	-16.8%-27.3pp
Income from continuing operations	-$900M-176%	-$326M-280%	$181M+107%	-$2.65B-357%
Income from discontinued operations	-$57M+81.7%	-$312M-113%	$2.48B+965%	$233M-11.1%
Net income attributable to noncontrolling interests	$0-100%	$11M+57.1%	$7M-41.7%	$12M+9.1%
Diluted earnings per share	-$1.86-46.5%	-$1.27-124%	$5.22+208%	-$4.83-291%
Basic earnings per share	-$1.86-45.3%	-$1.28-124%	$5.24+208%	-$4.83-289%
Weighted-average shares, diluted	2.1B+0.6%	2B+0.7%	2B+0.1%	2B-0.4%
Weighted-average shares, basic	2.1B+0.7%	2B+0.7%	2B+0.4%	2B+0.2%
Interest Income (Expense), Nonoperating	-$238M+30.2%	-$341M+22.3%	-$439M-11.4%	-$394M—
Continuing operations (in dollars per share)	-$1.74-176%	-$0.63-280%	$0.35+107%	-$5.29-359%
Continuing operations (in dollars per share)	-$1.74-176%	-$0.63-280%	$0.35+107%	-$5.29-363%
Accounts Receivable, Allowance for Credit Loss, Currency Translation Adjustments	$3M-70.0%	$10M+150%	$4M+300%	-$2M+77.8%
Accounts Receivable, Allowance For Credit Loss, Writeoff And Adjustments	——	——	——	——
Amortization of capitalized software and acquired intangible assets	$598M-4.3%	$625M+0.5%	$622M-8.4%	$679M+128%
Cash dividends declared per common share annualized basis (in dollars per share)	$0.68-41.4%	$1.16—	——	$4.56—
Stock options excluded as their inclusion would be anti-dilutive (in shares)	84M+3.7%	81M-8.0%	88M+44.3%	61M+118%
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation	——	——	——	-$1.35B—
Net cash provided by investing activities from the prepaid business	——	-$216M-106%	$3.77B—	——
Net cash provided by operating activities from the Prepaid Business	——	——	$519M—	——
Dividends declared (in dollars per share)	$0.52-50.0%	$1.04-10.3%	$1.16+0.9%	$1.15+6.0%
Comprehensive income (loss)	——	——	——	——
Comprehensive Income (Loss) From Continuing Operations Net Of Tax Including Portion Attributable To Noncontrolling Interest	-$770M+21.5%	-$981M-453%	$278M+107%	-$3.8B-475%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	-$701M+36.6%	-$1.11B-138%	$2.94B—	——
Hedging activities, net of tax expense (benefit) of zero and $(1) for the three months ended March 31, 2026 and 2025, respectively.	——	$12M+1,300%	-$1M—	——
Continuing Operation, Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax, Parent	$2M+167%	-$3M—	$0—	——
Continuing Operation, Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	-$11M-83.3%	-$6M+76.0%	-$25M—	——
Currency translation adjustments, tax	-$24M-2,500%	$1M+104%	-$25M—	——
Currency translation adjustments, net of tax expense (benefit) of $15 and $6 for the three months ended March 31, 2026 and 2025, respectively.	$161M+125%	-$648M-310%	$309M—	——
Continuing Operation, Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	$28M+47.4%	$19M-79.6%	$93M—	——
Contract With Customer, Liability, Currency Translation	-$2M+33.3%	-$3M—	——	$6M—
New revenue deferrals	$605M+9.2%	$554M+15.9%	$478M-28.1%	$665M—
Revenue recognized that was included in deferred income at the beginning of the period	$115M+11.7%	$103M-12.7%	$118M+2.6%	$115M+4.5%
Contract with Customer, Liability, Total Revenue Recognized	$601M+8.3%	$555M+14.7%	$484M-26.8%	$661M—
Impact to revenue from performance obligations satisfied (or partially satisfied) in previous periods	——	——	——	——
Federal	$118M+521%	$19M+1,800%	$1M-88.9%	$9M+182%
Foreign	$171M-34.0%	$259M-15.6%	$307M+165%	$116M-53.4%
Current State And Local Tax Expense Benefit	$29M+38.1%	$21M+133%	$9M—	$0-100%
Federal	-$34M+82.7%	-$197M-60.2%	-$123M+53.4%	-$264M-120%
Deferred Foreign Income Tax Expense Benefit	$74M+268%	-$44M+59.3%	-$108M-304%	$53M+256%
Deferred taxes	$77M+129%	-$262M-2.3%	-$256M+1.5%	-$260M-61.5%
Deferred and other income taxes	$77M+129%	-$262M-2.3%	-$256M+1.5%	-$260M-61.5%
State	$37M+276%	-$21M+16.0%	-$25M+49.0%	-$49M-600%
Defined contribution plan costs	$102M-14.3%	$119M+2.6%	$116M+20.8%	$96M+62.7%
Depreciation	$383M+3.0%	$372M-5.6%	$394M+0.3%	$393M-30.9%
Depreciation Nonproduction	$383M+3.0%	$372M-5.6%	$394M+0.3%	$393M-33.6%
Derivative, fair value hedges, terminated	$0—	$0—	$0—	$0—
Derivative, Gain (Loss) on Derivative, Net	$32M+186%	-$37M-223%	$30M+288%	-$16M+55.6%
Derivative, fair value, terminated	——	——	——	——
Derivative, net investment terminated	——	——	——	——
Discontinued Operation, Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	——	——	——	——
Currency translation adjustments, net of tax expense (benefit) of zero in 2025, $(7) in 2024 and $8 in 2023	$137M-26.7%	$187M+92.8%	$97M-42.3%	$168M+400%
Discontinued operations, currency translation adjustments, net of tax	$0—	——	——	——
Discontinued Operations, Comprehensive Income (Loss), Discontinued Operations, Net Of Tax	——	——	$2.72B—	——
Discontinued Operations, Other Comprehensive Income (Loss),Discontinued Operations, Net Of Tax	$126M-31.1%	$183M—	——	——
Discontinued Operations, Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	$11M+175%	$4M—	——	——
Discontinued operations, pension and other postretirement benefits, tax	-$3M-200%	$3M—	——	——
Dividends, Common Stock, Cash	$267M-50.2%	$536M-9.5%	$592M—	——
Effect of exchange rate changes on cash, cash equivalents and restricted cash	——	——	——	-$76M-61.7%
Income taxes at U.S. statutory rate of 21%	——	——	——	——
Tax law changes on Section 987	——	$17M—	$0—	$0—
Effective Income Tax Rate Reconciliation, Cross-Border, Other, Amount	-$8M—	——	——	——
Other	——	——	——	——
Revaluation of Swiss basis step-up deferred tax asset	——	$58M—	$0—	$0—
Global Intangible Low-taxed Income, net of credits	$18M—	——	——	——
Global Intangible Low-taxed Income, net of credits	——	——	——	——
Other	-$0.03—	——	——	——
Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses	——	——	——	——
Notional interest deduction expense (benefit)	——	-$37M-219%	$31M+110%	-$306M-215%
Effective Income Tax Rate Reconciliation Other Reconciling Items Percent	——	——	——	——
Effective Income Tax Rate Reconciliation, Pillar Two Tax Expense, Amount	——	-$11M—	$0—	$0—
State income taxes – net of federal income tax benefit	——	——	——	——
Subpart F income	——	$18M-30.8%	$26M—	——
Changes in unrecognized tax benefits	——	——	——	——
Effective Income Tax Rate Reconciliation Tax Credits Research	——	——	——	——
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Percent	——	——	——	——
Share-Based Payment Arrangement, Expense, Tax Benefit	$13M+62.5%	$8M-20.0%	$10M-67.7%	$31M-13.9%
Unrealized Gain (Loss), Foreign Currency Transaction, before Tax	-$18M+28.0%	-$25M+50.0%	-$50M—	——
Foreign Currency Translation and Other Adjustments	——	——	——	——
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	-$900M-176%	-$326M-643%	$60M+102%	-$3.12B-405%
Less: Net income attributable to noncontrolling interests	$0—	$0—	——	$1M—
Income Loss From Continuing Operations Before Income Taxes Domestic	-$1.35B+10.3%	-$1.5B-41.8%	-$1.06B+72.6%	-$3.86B-664%
Income Loss From Continuing Operations Before Income Taxes Foreign	$840M-30.6%	$1.21B-6.9%	$1.3B+113%	$610M-62.4%
Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest	$0-100%	$11M—	——	$11M—
Income from discontinued operations, net of tax	-$57M+82.4%	-$323M—	——	$681M—
Tax holiday income tax benefits	$57M-67.6%	$176M-12.0%	$200M—	——
Income Tax Holiday Income Tax Benefits Per Share	$0.11-67.6%	$0.34-12.8%	$0.39—	——
Federal taxes	$12M—	——	——	——
State taxes	$12M—	——	——	——
Net tax benefit after valuation allowances from notional interest deductions	——	——	$50M—	——
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	——	-$25M+51.0%	-$51M—	——
Effective Income Tax Rate Reconciliation, Deduction, Other, Amount	——	$176M-12.0%	$200M+28.2%	$156M-19.2%
Income Tax Reconciliation Foreign Income Tax Rate Differential	——	$137M-27.9%	$190M+144%	$78M-56.7%
Income Tax Reconciliation Foreign Tax Credits Due To Tax Cuts And Jobs Act Of2017	——	-$15M+53.1%	-$32M0.0%	-$32M-146%
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	-$106M-73.8%	-$61M-220%	$51M+107%	-$682M-391%
Effective income tax expense (benefit) attributable to goodwill impairment	$90M+4.7%	$86M—	$0-100%	$591M—
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount	$15M—	——	$26M—	$0—
Share-based compensation	——	$9M-10.0%	$10M—	——
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	$62M+789%	-$9M-350%	-$2M+92.6%	-$27M-438%
Changes in unrecognized tax benefits	$246M+2,633%	$9M+50.0%	$6M+186%	-$7M-150%
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount	$18M-5.3%	$19M+11.8%	$17M+113%	$8M+100%
Accounts payable	$3M-97.3%	$112M—	——	-$67M-164%
Increase (Decrease) in Accounts Receivable	$132M+277%	$35M—	——	——
Increase (Decrease) In Accrued Expenses And Other Current Liabilities	$149M—	——	$293M+285%	-$158M—
Changes in the fair value of equity securities	——	——	——	——
Increase (Decrease) in Inventories	——	$201M—	——	——
Increase (Decrease) in Prepaid Expense and Other Assets	-$72M-158%	$125M+178%	$45M—	——
Interest Costs Capitalized Adjustment	$14M+7.7%	$13M-13.3%	$15M+50.0%	$10M0.0%
Debt	$304M-27.8%	$421M-19.5%	$523M+23.6%	$423M+94.9%
Interest Income (Expense), Nonoperating, Net Of Capitalized Interest	——	——	——	——
Inventory Write Down	——	$9M-35.7%	$14M—	——
Investment impairments	——	——	——	——
Lease Income	$385M-7.9%	$418M-15.9%	$497M+15.0%	$432M+79.3%
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders	——	——	——	——
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation	-$4.22B—	——	-$3.49B-143%	-$1.44B-117%
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation	——	-$626M-118%	$3.44B+470%	-$931M+91.7%
Net Cash Provided By Used In Investing Activities Continuing Operations	-$464M-13.2%	-$410M+0.2%	-$411M—	——
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation	$845M-17.1%	$1.02B-41.0%	$1.73B+42.5%	$1.21B-45.5%
Net Cash Provided By Used In Operating Activities Continuing Operations	$951M+11.1%	$856M-29.1%	$1.21B—	——
Net Income Loss Attributable To Noncontrolling Interest	$0-100%	$11M+57.1%	$7M-41.7%	$12M+9.1%
Number of operating segments	——	——	——	——
Number of reportable segments	3—	——	——	——
Lease income — operating leases	$350M-7.9%	$380M-15.4%	$449M+12.0%	$401M+197%
Other Comprehensive Income Defined Benefit Pension Plans Adjustment Net Of Tax Period Increase Decrease	-$28M-47.4%	-$19M+79.3%	-$92M-136%	-$39M-117%
Net current year prior service credit (cost)	$20M+33.3%	$15M-85.4%	$103M+68.9%	$61M+138%
Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax	-$14M-133%	-$6M-119%	$31M+675%	$4M-90.7%
Settlement arising during the period, tax	$0—	$0+100%	-$1M—	$0—
Less: Tax provision /(benefit)	-$3M—	$0+100%	-$5M-183%	$6M-62.5%
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost	-$8M-100%	-$4M-131%	$13M-38.1%	$21M-67.2%
Total, gain (loss) recognized in OCI	-$128M-227%	$101M+315%	-$47M-128%	$169M-17.6%
Other Comprehensive Income (Loss), Cash Flow Hedge, Fair Value Hedge, And Net Investment Hedge, Gain (Loss), before Reclassification, Tax	——	——	——	——
Other Comprehensive Income (Loss), Continuing Operations, Net Of Tax	——	-$655M-405%	$215M+132%	-$680M-3,479%
Other Comprehensive Income (Loss), Excluding Reclassified Disposed Amounts, Net of Tax	$141M+130%	-$472M-271%	$276M—	——
Pension settlement charge	$0—	$0+100%	-$2M-300%	$1M-50.0%
Reclassification of other comprehensive income (loss) disposed in the Kidney Care separation	——	——	——	——
Other comprehensive income (loss)	——	-$472M-271%	$276M—	——
Other Comprehensive Income (Loss), Reclassification Adjustment from Accumulated Other Comprehensive Income, Cash Flow Hedges, Fair Value Hedges And Net Investment Hedges, Net of Tax	——	——	——	——
Other Noncash Income (Expense)	-$30M—	——	-$68M—	——
Other income, net (Note 6)	$41M+7.9%	$38M+197%	-$39M-333%	-$9M+78.0%
All other operating activities	——	——	——	-$97M+29.2%
Other income, net	$206M+1,617%	$12M-57.1%	$28M+180%	-$35M-683%
Payment for (Proceeds from) Other Investing Activity	-$58M—	——	-$26M—	——
Payments of Ordinary Dividends, Common Stock	$348M-41.0%	$590M+0.7%	$586M+2.3%	$573M+8.1%
Payments to Acquire Other Productive Assets	——	——	——	——
U.K. pension settlement expense	-$45M-15.4%	-$39M+17.0%	-$47M-56.7%	-$30M—
Pension and Other Postretirement Benefits Expense (Reversal of Expense), Noncash	-$32M-14.3%	-$28M+3.4%	-$29M-169%	$42M-57.6%
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options	$30M-57.7%	$71M-25.3%	$95M-25.2%	$127M-32.1%
Financing — other	——	——	-$63M-3.3%	-$61M—
Short-term borrowings/(repayments) less than 90 days — net	——	$296M—	——	$55M-78.1%
Proceeds from Short-Term Debt	$0-100%	$1.83B—	$0—	$0—
Net additions (releases) charged to costs and expenses	$6M+186%	-$7M-16.7%	-$6M-100%	-$3M-250%
Repayments of Debt	$5.49B+107%	$2.66B+0.9%	$2.63B+176%	$954M-66.2%
Revenue From Contract With Customer Excluding Assessed Tax	$11.24B+5.7%	$10.64B+2.7%	$10.36B-28.6%	$14.51B+19.4%
Right Of Use Asset Obtained In Exchange For Operating Lease Liability	$36M-43.8%	$64M-3.0%	$66M+11.9%	$59M-16.9%
Sales-type lease selling price	$8M-20.0%	$10M0.0%	$10M—	——
Stock-based compensation	$117M+2.6%	$114M-0.9%	$115M-17.9%	$140M-4.1%
Granted (in shares)	——	——	——	——
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period	——	——	——	——
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Expirations in Period	——	——	——	——
Options canceled (in dollars per share)	——	——	——	——
Granted (in shares)	——	——	——	——
Options forfeited/expired (in dollars per share)	——	——	——	——
Exercised (in shares)	——	——	——	——
Tax benefit related to stock based compensation, shortfall expense	$10M+11.1%	$9M-18.2%	$11M—	——
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	——	——	——	——
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	$133M-34.5%	$203M-10.2%	$226M-11.7%	$256M-19.2%
Number of shares purchased (in shares)	——	——	——	——
Unrecognized tax benefits, settlements	$0-100%	$1M-50.0%	$2M-71.4%	$7M+250%
Interest expense and penalties, net (benefit)/charge recognized	$15M-28.6%	$21M+23.5%	$17M+6.3%	$16M-15.8%
Unrecognized Tax Benefits Increases (Decreases) Resulting From Prior Period Tax Positions	$258M+5,060%	$5M+66.7%	$3M-78.6%	$14M+567%
Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions	$5M-50.0%	$10M+11.1%	$9M-18.2%	$11M-64.5%
Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations	$30M+329%	$7M-12.5%	$8M-78.4%	$37M+131%
Variable lease income	$27M-3.6%	$28M-26.3%	$38M—	——
Add: dilutive effect of potential common shares (in shares)	$2M-33.3%	$3M-25.0%	$4M-60.0%	$10M—
EBIT	-$308M-178%	$393M-33.9%	$595M+122%	-$2.77B-305%
EBITDA	$673M-51.6%	$1.39B-12.0%	$1.58B+193%	-$1.69B-176%
EBITDA	$673M-51.6%	$1.39B-12.0%	$1.58B+193%	-$1.69B-176%
EBITDA margin	6%-7.1pp	13.1%-2.2pp	15.2%+26.9pp	-11.7%-29.9pp
EBIT	-$308M-178%	$393M-33.9%	$595M+122%	-$2.77B-305%

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Questions, answered.

What is Baxter International's revenue?: Baxter International (BAX) generated $11.3B in revenue over the trailing twelve months, up 5.1% year over year.
Is Baxter International profitable?: Baxter International is not currently profitable: it reported a net loss of $1.1B over the trailing twelve months, a -9.7% net margin.
What are Baxter International's profit margins?: Gross margin is 30.1% and operating margin is -2.7%, with a -9.7% net margin.
What is Baxter International's earnings per share?: Baxter International's diluted EPS over the trailing twelve months is $-2.14.
Where does Baxter International's income statement data come from?: Every line is extracted from Baxter International's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.