Baxter International BAX Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net Sales by Business | ||||||
| Healthcare Systems & Technologies | $705M-14.8% | $827M+7.0% | $773M+0.8% | $767M+8.9% | $704M-10.2% | |
| Medical Products & Therapies | $1.29B-7.4% | $1.39B+4.4% | $1.33B+0.7% | $1.32B+4.6% | $1.26B-4.0% | |
| Pharmaceuticals | $621M-7.0% | $668M+5.7% | $632M+3.3% | $612M+5.3% | $581M-9.6% | |
| Segment operating income by Business | ||||||
| Healthcare Systems & Technologies | $66M-47.6% | $126M+21.2% | $104M-11.9% | $118M+26.9% | $93M-35.9% | |
| Medical Products & Therapies | $186M-13.1% | $214M-21.6% | $273M+14.2% | $239M-2.0% | $244M+12.4% | |
| Pharmaceuticals | $46M+17.9% | $39M-30.4% | $56M-12.5% | $64M+1.6% | $63M-38.2% | |
| Reportable Segment | $298M-21.4% | $379M-12.5% | $433M+2.9% | $421M+5.3% | $400M-13.8% | |
| Other segment items by Business | ||||||
| Healthcare Systems & Technologies | -$9M+18.2% | -$11M-37.5% | -$8M+20.0% | -$10M-42.9% | -$7M-600% | |
| Medical Products & Therapies | -$26M+16.1% | -$31M-34.8% | -$23M+28.1% | -$32M-52.4% | -$21M— | |
| Pharmaceuticals | -$7M+36.4% | -$11M-57.1% | -$7M+36.4% | -$11M-57.1% | -$7M-40.0% | |
| Selling, general and administrative expenses by Business | ||||||
| Healthcare Systems & Technologies | $209M-2.8% | $215M-1.8% | $219M-1.4% | $222M+2.3% | $217M-3.1% | |
| Medical Products & Therapies | $290M-1.7% | $295M+3.1% | $286M-3.1% | $295M+3.1% | $286M-7.1% | |
| Pharmaceuticals | $102M-9.7% | $113M+5.6% | $107M+0.9% | $106M+2.9% | $103M-3.7% | |
| Research and development expenses by Business | ||||||
| Healthcare Systems & Technologies | $49M+2.1% | $48M0.0% | $48M-2.0% | $49M+8.9% | $45M-2.2% | |
| Medical Products & Therapies | $54M+17.4% | $46M+12.2% | $41M-34.9% | $63M+6.8% | $59M+5.4% | |
| Pharmaceuticals | $22M-8.3% | $24M-7.7% | $26M+4.0% | $25M-3.8% | $26M+8.3% | |
| Cost of Sales by Business | ||||||
| Healthcare Systems & Technologies | $390M-13.1% | $449M+9.5% | $410M+5.7% | $388M+9.0% | $356M-3.8% | |
| Medical Products & Therapies | $781M-9.6% | $864M+14.9% | $752M-0.4% | $755M+8.8% | $694M-5.1% | |
| Pharmaceuticals | $458M-8.9% | $503M+11.8% | $450M+5.1% | $428M+8.1% | $396M-4.6% | |
| Currency translation by Business | ||||||
| Healthcare Systems & Technologies | -$5M— | —— | —— | $12M+50.0% | $8M— | |
| Medical Products & Therapies | -$17M— | —— | $3M-90.3% | $31M-18.4% | $38M— | |
| Pharmaceuticals | -$8M— | —— | $2M-85.7% | $14M-17.6% | $17M— | |
| Goodwill by Business | ||||||
| Healthcare Systems & Technologies | $3.08B-0.2% | $3.09B-13.5% | $3.57B0.0% | $3.57B+0.3% | $3.56B+0.2% | |
| Medical Products & Therapies | $1.25B-1.3% | $1.27B+0.6% | $1.26B+0.2% | $1.25B+2.5% | $1.22B+3.2% | |
| Pharmaceuticals | $569M-1.4% | $577M+0.7% | $573M+0.4% | $571M+2.5% | $557M+3.1% | |
| Depreciation by Business | ||||||
| Healthcare Systems & Technologies | $24M-17.2% | $29M+11.5% | $26M-13.3% | $30M+11.1% | $27M+3.8% | |
| Medical Products & Therapies | $51M+4.1% | $49M-2.0% | $50M-13.8% | $58M+18.4% | $49M0.0% | |
| Pharmaceuticals | $16M-5.9% | $17M+21.4% | $14M-22.2% | $18M+12.5% | $16M0.0% | |
| Net Sales by Product | ||||||
| Advanced Surgery | $304M-7.3% | $328M+7.2% | $306M+3.4% | $296M+10.4% | $268M-8.2% | |
| Care & Connectivity Solutions | $435M-19.0% | $537M+13.5% | $473M-0.2% | $474M+11.0% | $427M-15.3% | |
| Drug Compounding | $320M+1.3% | $316M+5.7% | $299M+6.8% | $280M+13.8% | $246M-5.4% | |
| Front Line Care | $270M-6.9% | $290M-3.3% | $300M+2.4% | $293M+5.8% | $277M-1.1% | |
| Infusion Therapies & Technologies | $981M-7.5% | $1.06B+3.6% | $1.02B-0.1% | $1.02B+3.0% | $994M-2.7% | |
| Injectables & Anesthesia | $301M-14.5% | $352M+5.7% | $333M+0.3% | $332M-0.9% | $335M-12.5% | |
| Net Sales by Geography | ||||||
| International | $1.27B-11.0% | $1.42B+10.1% | $1.29B+1.3% | $1.27B+12.2% | $1.14B-8.7% | |
| United States | $1.44B-7.5% | $1.55B+0.5% | $1.54B+0.5% | $1.54B+3.1% | $1.49B-1.3% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Baxter International break its business down?
- Baxter International (BAX) reports net sales by business across 3 parts — Healthcare Systems & Technologies, Medical Products & Therapies and Pharmaceuticals. Each is extracted from the segment footnotes and tracked over time.
- Where does Baxter International's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Baxter International's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
