Baxter International BAX Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net Sales by Business | ||||||
| Healthcare Systems & Technologies | $705M+0.1% | $827M+5.5% | $773M+2.8% | $767M+2.5% | $704M+5.5% | |
| Medical Products & Therapies | $1.29B+1.8% | $1.39B+5.6% | $1.33B-1.0% | $1.32B-0.2% | $1.26B+2.7% | |
| Pharmaceuticals | $621M+6.9% | $668M+3.9% | $632M+7.5% | $612M+1.7% | $581M+0.5% | |
| Segment operating income by Business | ||||||
| Healthcare Systems & Technologies | $66M-29.0% | $126M-13.1% | $104M-23.5% | $118M-1.7% | $93M+38.8% | |
| Medical Products & Therapies | $186M-23.8% | $214M-1.4% | $273M+1.9% | $239M+0.4% | $244M+7.5% | |
| Pharmaceuticals | $46M-27.0% | $39M-61.8% | $56M-3.4% | $64M-14.7% | $63M-19.2% | |
| Reportable Segment | $298M-25.5% | $379M-18.3% | $433M-6.3% | $421M-2.8% | $400M+7.5% | |
| Other segment items by Business | ||||||
| Healthcare Systems & Technologies | -$9M-28.6% | -$11M-1,000% | -$8M— | -$10M— | -$7M— | |
| Medical Products & Therapies | -$26M-23.8% | -$31M— | -$23M-475% | -$32M-1,700% | -$21M-950% | |
| Pharmaceuticals | -$7M0.0% | -$11M-120% | -$7M-275% | -$11M— | -$7M— | |
| Selling, general and administrative expenses by Business | ||||||
| Healthcare Systems & Technologies | $209M-3.7% | $215M-4.0% | $219M+7.9% | $222M+9.9% | $217M+4.8% | |
| Medical Products & Therapies | $290M+1.4% | $295M-4.2% | $286M-1.7% | $295M+0.7% | $286M+0.7% | |
| Pharmaceuticals | $102M-1.0% | $113M+5.6% | $107M+12.6% | $106M+8.2% | $103M+7.3% | |
| Research and development expenses by Business | ||||||
| Healthcare Systems & Technologies | $49M+8.9% | $48M+4.3% | $48M+6.7% | $49M+6.5% | $45M-4.3% | |
| Medical Products & Therapies | $54M-8.5% | $46M-17.9% | $41M-22.6% | $63M+14.5% | $59M+13.5% | |
| Pharmaceuticals | $22M-15.4% | $24M0.0% | $26M+13.0% | $25M+13.6% | $26M+18.2% | |
| Cost of Sales by Business | ||||||
| Healthcare Systems & Technologies | $390M+9.6% | $449M+21.4% | $410M+11.4% | $388M+2.1% | $356M+2.9% | |
| Medical Products & Therapies | $781M+12.5% | $864M+18.2% | $752M+2.5% | $755M+2.9% | $694M+3.9% | |
| Pharmaceuticals | $458M+15.7% | $503M+21.2% | $450M+10.3% | $428M+5.2% | $396M+3.7% | |
| Currency translation by Business | ||||||
| Healthcare Systems & Technologies | -$5M-163% | —— | —— | $12M+1,300% | $8M+214% | |
| Medical Products & Therapies | -$17M-145% | —— | $3M— | $31M— | $38M+200% | |
| Pharmaceuticals | -$8M-147% | —— | $2M— | $14M— | $17M+200% | |
| Goodwill by Business | ||||||
| Healthcare Systems & Technologies | $3.08B-13.4% | $3.09B-13.0% | $3.57B-10.5% | $3.57B-10.3% | $3.56B-10.6% | |
| Medical Products & Therapies | $1.25B+2.0% | $1.27B+6.8% | $1.26B+1.9% | $1.25B+4.2% | $1.22B+1.7% | |
| Pharmaceuticals | $569M+2.2% | $577M+6.9% | $573M+2.3% | $571M+4.4% | $557M+2.0% | |
| Depreciation by Business | ||||||
| Healthcare Systems & Technologies | $24M-11.1% | $29M+11.5% | $26M-10.3% | $30M+25.0% | $27M-10.0% | |
| Medical Products & Therapies | $51M+4.1% | $49M0.0% | $50M0.0% | $58M+31.8% | $49M-15.5% | |
| Pharmaceuticals | $16M0.0% | $17M+6.3% | $14M-12.5% | $18M+260% | $16M-36.0% | |
| Net Sales by Product | ||||||
| Advanced Surgery | $304M+13.4% | $328M+12.3% | $306M+12.5% | $296M+6.9% | $268M+1.9% | |
| Care & Connectivity Solutions | $435M+1.9% | $537M+6.5% | $473M+3.7% | $474M+4.9% | $427M+6.2% | |
| Drug Compounding | $320M+30.1% | $316M+21.5% | $299M+12.0% | $280M+7.3% | $246M-1.6% | |
| Front Line Care | $270M-2.5% | $290M+3.6% | $300M+1.4% | $293M-1.0% | $277M+4.5% | |
| Infusion Therapies & Technologies | $981M-1.3% | $1.06B+3.7% | $1.02B-4.4% | $1.02B-2.0% | $994M+2.9% | |
| Injectables & Anesthesia | $301M-10.1% | $352M-8.1% | $333M+3.7% | $332M-2.6% | $335M+2.1% | |
| Net Sales by Geography | ||||||
| International | $1.27B+11.5% | $1.42B+14.4% | $1.29B+7.7% | $1.27B+6.0% | $1.14B-0.6% | |
| United States | $1.44B-3.7% | $1.55B+2.8% | $1.54B+2.9% | $1.54B+2.9% | $1.49B+10.5% |
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.
