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Baxter International BAX Operating margin

Operating margin at other companies

Becton, Dickinson and Company logo
Becton, Dickinson and CompanyBDX
10.4%+0.1pp
Stryker logo
StrykerSYK
19.7%+4.4pp
The Cooper Companies, Inc. logo
The Cooper Companies, Inc.COO
11.8%-7.2pp
Medtronic logo
MedtronicMDT
17.8%0.0pp
STERIS logo
STERISSTE
18.6%+2.7pp
Medline, Inc.
 logo
Medline, Inc. MDLN
8.5%+2.3pp

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$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
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

Calculated from Baxter International’s reported figures.

Based on trailing twelve months.

The official record: Baxter International’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Baxter International's operating margin?
Baxter International (BAX) reported operating margin of -2.7% in Q1 2026.
What is the long-term trend for Baxter International's operating margin?
Over 4 years (2020 to 2025), Baxter International's operating margin has grown at a -33.3% compound annual growth rate (CAGR), from 13.8% to -2.7%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.