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 | $3.07B+2.8% | $3.07B+4.1% | $3.03B+2.2% | $3.01B+1.8% | $2.99B+1.3% | |
| Medical Products & Therapies | $5.32B+1.6% | $5.3B+1.8% | $5.23B+0.2% | $5.24B+2.1% | $5.24B+3.1% | |
| Pharmaceuticals | $2.53B+4.9% | $2.49B+3.4% | $2.47B+4.4% | $2.42B+2.8% | $2.41B+4.7% | |
| Segment operating income by Business | ||||||
| Healthcare Systems & Technologies | $414M-16.2% | $441M-5.8% | $460M-4.0% | $492M+7.4% | $494M+12.8% | |
| Medical Products & Therapies | $912M-5.7% | $970M+2.1% | $973M-2.6% | $968M-0.8% | $967M-3.5% | |
| Pharmaceuticals | $205M-31.2% | $222M-29.1% | $285M-13.1% | $287M-24.1% | $298M-24.0% | |
| Reportable Segment | $1.53B-13.0% | $1.63B-5.7% | $1.72B-0.8% | $1.75B+0.8% | $1.76B-0.3% | |
| Other segment items by Business | ||||||
| Healthcare Systems & Technologies | -$38M-375% | -$36M-3,500% | -$26M— | -$18M— | -$8M— | |
| Medical Products & Therapies | -$112M— | -$107M— | —— | —— | —— | |
| Pharmaceuticals | -$36M-350% | -$36M-3,500% | -$30M-900% | -$19M-3,700% | -$8M-967% | |
| Selling, general and administrative expenses by Business | ||||||
| Healthcare Systems & Technologies | $865M+2.2% | $873M+4.4% | $882M+7.9% | $866M+5.6% | $846M+2.7% | |
| Medical Products & Therapies | $1.17B-1.0% | $1.16B-1.2% | $1.18B+2.9% | $1.18B+4.8% | $1.18B+6.4% | |
| Pharmaceuticals | $428M+6.2% | $429M+8.3% | $423M+11.4% | $411M+9.5% | $403M+9.4% | |
| Research and development expenses by Business | ||||||
| Healthcare Systems & Technologies | $194M+6.6% | $190M+3.3% | $188M+3.3% | $185M+2.2% | $182M+1.7% | |
| Medical Products & Therapies | $204M-8.5% | $209M-3.2% | $219M+1.6% | $231M+6.0% | $223M+2.1% | |
| Pharmaceuticals | $97M+2.1% | $101M+11.0% | $101M+14.1% | $98M+12.6% | $95M+9.8% | |
| Cost of Sales by Business | ||||||
| Healthcare Systems & Technologies | $1.64B+11.1% | $1.6B+9.5% | $1.52B+3.2% | $1.48B-0.7% | $1.47B-1.4% | |
| Medical Products & Therapies | $3.15B+9.0% | $3.07B+6.9% | $2.93B+4.1% | $2.91B+5.5% | $2.89B+6.8% | |
| Pharmaceuticals | $1.84B+13.1% | $1.78B+10.2% | $1.69B+9.2% | $1.65B+10.6% | $1.63B+13.5% | |
| Goodwill by Business | ||||||
| Healthcare Systems & Technologies | $13.31B-11.7% | $13.79B-11.1% | $14.25B-10.6% | $14.67B-7.9% | $15.08B— | |
| Medical Products & Therapies | $5.02B+3.7% | $5B+3.6% | $4.92B+0.8% | $4.9B+1.1% | $4.85B— | |
| Pharmaceuticals | $2.29B+3.9% | $2.28B+3.9% | $2.24B+1.1% | $2.23B+1.4% | $2.2B— | |
| Depreciation by Business | ||||||
| Healthcare Systems & Technologies | $109M+2.8% | $112M+2.8% | $109M-0.9% | $112M+3.7% | $106M-4.5% | |
| Medical Products & Therapies | $208M+8.3% | $206M+2.5% | $206M-1.9% | $206M-5.5% | $192M-17.2% | |
| Pharmaceuticals | $65M+22.6% | $65M+4.8% | $64M+7.6% | $66M+15.8% | $53M-19.1% | |
| Net Sales by Product | ||||||
| Advanced Surgery | $1.23B+11.3% | $1.2B+8.5% | $1.16B+6.6% | $1.13B+5.1% | $1.11B+3.8% | |
| Care & Connectivity Solutions | $1.92B+4.4% | $1.91B+5.3% | $1.88B+4.2% | $1.86B+4.0% | $1.84B+3.7% | |
| Drug Compounding | $1.22B+17.5% | $1.14B+9.9% | $1.09B+6.9% | $1.05B+7.8% | $1.03B+10.7% | |
| Front Line Care | $1.15B+0.3% | $1.16B+2.0% | $1.15B-0.8% | $1.15B-1.5% | $1.15B-2.2% | |
| Infusion Therapies & Technologies | $4.09B-1.0% | $4.1B0.0% | $4.06B-1.5% | $4.11B+1.3% | $4.13B+2.9% | |
| Injectables & Anesthesia | $1.32B-4.5% | $1.35B-1.5% | $1.38B+2.4% | $1.37B-0.7% | $1.38B+0.7% | |
| Net Sales by Geography | ||||||
| International | $5.25B+9.9% | $5.12B+7.0% | $4.94B+3.7% | $4.85B+3.2% | $4.78B-12.4% | |
| United States | $6.07B+1.3% | $6.12B+4.6% | $6.08B+4.1% | $6.04B+3.9% | $5.99B-1.2% |
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.
