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R&D at other companies

Becton, Dickinson and Company logo
Becton, Dickinson and CompanyBDX
$258M-13.1%
Stryker logo
StrykerSYK
$434M+6.6%
KORU Medical Systems logo
KORU Medical SystemsKRMD
$1.07M-10.5%
The Cooper Companies, Inc. logo
The Cooper Companies, Inc.COO
$42.5M-6.6%
Axogen logo
AxogenAXGN
$8.59M+25.3%
ICU Medical logo
ICU MedicalICUI
$22.7M+3.8%

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$14.13B+22.3%
Enterprise value$12.33B+22.1%
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:ResearchAndDevelopmentExpense.

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
Line itemThree months ended March 31, 2026Three months ended March 31, 2025
Cost of sales1,8101,764
Gross margin891861
Selling, general and administrative expenses728703
Research and development expenses139140
Other operating income, net(42)(40)
Operating income6658
Interest expense, net6664
Other (income) expense, net6(3)

Item 1. Financial Statements (unaudited)

FAQ

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?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

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