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R&D at other companies

Becton, Dickinson and Company logo
Becton, Dickinson and CompanyBDX
$249M+7.3%
Stryker logo
StrykerSYK
$413M+2.0%
The Cooper Companies, Inc. logo
The Cooper Companies, Inc.COO
$42.5M-6.6%
Medtronic logo
MedtronicMDT
$671M-1.9%
STERIS logo
STERISSTE
$28.8M+4.3%
Medline, Inc.
 logo
Medline, Inc. MDLN
$20M+19.4%

Segments

By segment

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Medical Products & Therapies$54M-8.5%
Healthcare Systems & Technologies$49M+8.9%
Pharmaceuticals$22M-15.4%

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
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:ResearchAndDevelopmentExpense.

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 R&D?
Baxter International (BAX) reported R&D of $139M in Q1 2026.
How has Baxter International's R&D changed year-over-year?
Baxter International's R&D decreased by 0.7% year-over-year, from $140M to $139M.
What is the long-term trend for Baxter International's R&D?
Over 4 years (2021 to 2025), Baxter International's R&D has grown at a -0.6% compound annual growth rate (CAGR), from $531M to $518M.
What does R&D mean?
Spending on the development of new products and the improvement of existing ones.
How do you interpret R&D?
Consistent or increasing R&D spend is generally positive for long-term growth, whereas significant cuts may signal a focus on short-term profitability at the expense of future innovation.
How does R&D compare across companies?
Highly comparable within the healthcare sector; peers with higher R&D intensity often command higher valuations due to innovation potential.