Baxter International BAX Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net Sales by Business | ||||||
| Healthcare Systems & Technologies | $3.07B0.0% | $3.07B+1.4% | $3.03B+0.7% | $3.01B+0.6% | $2.99B+1.3% | |
| Medical Products & Therapies | $5.32B+0.4% | $5.3B+1.4% | $5.23B-0.2% | $5.24B0.0% | $5.24B+0.6% | |
| Pharmaceuticals | $2.53B+1.6% | $2.49B+1.0% | $2.47B+1.8% | $2.42B+0.4% | $2.41B+0.1% | |
| Segment operating income by Business | ||||||
| Healthcare Systems & Technologies | $414M-6.1% | $441M-4.1% | $460M-6.5% | $492M-0.4% | $494M+5.6% | |
| Medical Products & Therapies | $912M-6.0% | $970M-0.3% | $973M+0.5% | $968M+0.1% | $967M+1.8% | |
| Pharmaceuticals | $205M-7.7% | $222M-22.1% | $285M-0.7% | $287M-3.7% | $298M-4.8% | |
| Reportable Segment | $1.53B-6.2% | $1.63B-4.9% | $1.72B-1.7% | $1.75B-0.7% | $1.76B+1.6% | |
| Other segment items by Business | ||||||
| Healthcare Systems & Technologies | -$38M-5.6% | -$36M-38.5% | -$26M-44.4% | -$18M-125% | -$8M-700% | |
| Medical Products & Therapies | -$112M-4.7% | -$107M— | —— | —— | —— | |
| Pharmaceuticals | -$36M0.0% | -$36M-20.0% | -$30M-57.9% | -$19M-138% | -$8M-700% | |
| Selling, general and administrative expenses by Business | ||||||
| Healthcare Systems & Technologies | $865M-0.9% | $873M-1.0% | $882M+1.8% | $866M+2.4% | $846M+1.2% | |
| Medical Products & Therapies | $1.17B+0.3% | $1.16B-1.1% | $1.18B-0.4% | $1.18B+0.2% | $1.18B+0.2% | |
| Pharmaceuticals | $428M-0.2% | $429M+1.4% | $423M+2.9% | $411M+2.0% | $403M+1.8% | |
| Research and development expenses by Business | ||||||
| Healthcare Systems & Technologies | $194M+2.1% | $190M+1.1% | $188M+1.6% | $185M+1.6% | $182M-1.1% | |
| Medical Products & Therapies | $204M-2.4% | $209M-4.6% | $219M-5.2% | $231M+3.6% | $223M+3.2% | |
| Pharmaceuticals | $97M-4.0% | $101M0.0% | $101M+3.1% | $98M+3.2% | $95M+4.4% | |
| Cost of Sales by Business | ||||||
| Healthcare Systems & Technologies | $1.64B+2.1% | $1.6B+5.2% | $1.52B+2.8% | $1.48B+0.5% | $1.47B+0.7% | |
| Medical Products & Therapies | $3.15B+2.8% | $3.07B+4.5% | $2.93B+0.6% | $2.91B+0.7% | $2.89B+0.9% | |
| Pharmaceuticals | $1.84B+3.5% | $1.78B+5.2% | $1.69B+2.6% | $1.65B+1.3% | $1.63B+0.9% | |
| Goodwill by Business | ||||||
| Healthcare Systems & Technologies | $13.31B-3.5% | $13.79B-3.2% | $14.25B-2.9% | $14.67B-2.7% | $15.08B-2.7% | |
| Medical Products & Therapies | $5.02B+0.5% | $5B+1.6% | $4.92B+0.5% | $4.9B+1.0% | $4.85B+0.4% | |
| Pharmaceuticals | $2.29B+0.5% | $2.28B+1.7% | $2.24B+0.6% | $2.23B+1.1% | $2.2B+0.5% | |
| Depreciation by Business | ||||||
| Healthcare Systems & Technologies | $109M-2.7% | $112M+2.8% | $109M-2.7% | $112M+5.7% | $106M-2.8% | |
| Medical Products & Therapies | $208M+1.0% | $206M0.0% | $206M0.0% | $206M+7.3% | $192M-4.5% | |
| Pharmaceuticals | $65M0.0% | $65M+1.6% | $64M-3.0% | $66M+24.5% | $53M-14.5% | |
| Net Sales by Product | ||||||
| Advanced Surgery | $1.23B+3.0% | $1.2B+3.1% | $1.16B+3.0% | $1.13B+1.7% | $1.11B+0.5% | |
| Care & Connectivity Solutions | $1.92B+0.4% | $1.91B+1.8% | $1.88B+0.9% | $1.86B+1.2% | $1.84B+1.4% | |
| Drug Compounding | $1.22B+6.5% | $1.14B+5.2% | $1.09B+3.0% | $1.05B+1.8% | $1.03B-0.4% | |
| Front Line Care | $1.15B-0.6% | $1.16B+0.9% | $1.15B+0.3% | $1.15B-0.3% | $1.15B+1.1% | |
| Infusion Therapies & Technologies | $4.09B-0.3% | $4.1B+0.9% | $4.06B-1.1% | $4.11B-0.5% | $4.13B+0.7% | |
| Injectables & Anesthesia | $1.32B-2.5% | $1.35B-2.2% | $1.38B+0.9% | $1.37B-0.7% | $1.38B+0.5% | |
| Net Sales by Geography | ||||||
| International | $5.25B+2.6% | $5.12B+3.6% | $4.94B+1.9% | $4.85B+1.5% | $4.78B-0.1% | |
| United States | $6.07B-0.9% | $6.12B+0.7% | $6.08B+0.7% | $6.04B+0.7% | $5.99B+2.4% |
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.
