BAX
Baxter International Inc
NYSE: BAX · HEALTHCARE · MEDICAL INSTRUMENTS & SUPPLIES
$17.53
-2.56% today
Updated 2026-05-11
Market cap
$9.05B
P/E ratio
—
P/S ratio
0.80x
EPS (TTM)
$-1.91
Dividend yield
2.00%
52W range
$16 – $32
Volume
8.6M
Baxter International Inc (BAX) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.38B | $11.26B | $12.35B | $12.56B | $12.84B | $13.89B | $13.94B | $9.41B | $10.72B | $9.97B | $10.16B | $10.58B | $11.10B | $11.36B | $11.67B | $12.15B | $10.06B | $10.36B | $10.64B | $11.24B |
| Revenue growth (YoY) | — | +8.5% | +9.6% | +1.7% | +2.2% | +8.2% | +0.3% | -32.5% | +13.9% | -7.0% | +2.0% | +4.1% | +4.9% | +2.4% | +2.7% | +4.1% | -17.2% | +3.0% | +2.7% | +5.7% |
| Cost of revenue | $5.64B | $5.74B | $6.22B | $6.04B | $6.88B | $6.85B | $6.80B | $5.25B | $6.14B | $5.82B | $6.05B | $6.11B | $6.34B | $6.60B | $7.09B | $7.43B | $6.51B | $6.21B | $6.65B | $7.87B |
| Gross profit | $4.74B | $5.52B | $6.13B | $6.53B | $5.96B | $7.05B | $7.13B | $4.16B | $4.58B | $4.15B | $4.12B | $4.47B | $4.76B | $4.76B | $4.59B | $4.72B | $3.55B | $4.15B | $3.98B | $3.38B |
| Gross margin | 45.6% | 49.0% | 49.6% | 51.9% | 46.4% | 50.7% | 51.2% | 44.2% | 42.7% | 41.6% | 40.5% | 42.3% | 42.9% | 41.9% | 39.3% | 38.9% | 35.3% | 40.1% | 37.5% | 30.1% |
| R&D | $614.00M | $760.00M | $868.00M | $917.00M | $915.00M | $946.00M | $1.08B | $582.00M | $610.00M | $603.00M | $646.00M | $615.00M | $654.00M | $595.00M | $521.00M | $531.00M | $450.00M | $518.00M | $590.00M | $518.00M |
| SG&A | $2.28B | $2.52B | $2.70B | $2.73B | $2.91B | $3.92B | $3.32B | $3.68B | $4.03B | $3.09B | $21.00M | $2.63B | $2.62B | $2.54B | $2.47B | $2.85B | $3.10B | $3.94B | $2.97B | $2.89B |
| Operating income | $1.84B | $2.17B | $2.56B | $2.88B | $2.14B | $2.95B | $2.82B | $496.00M | $656.00M | $449.00M | $745.00M | $1.29B | $1.58B | $1.77B | $1.62B | $1.35B | $-2.85B | $707.00M | $14.00M | $-308.00M |
| Operating margin | 17.7% | 19.2% | 20.8% | 22.9% | 16.6% | 21.2% | 20.2% | 5.3% | 6.1% | 4.5% | 7.3% | 12.2% | 14.3% | 15.6% | 13.8% | 11.1% | -28.3% | 6.8% | 0.1% | -2.7% |
| EBITDA | $2.42B | $2.82B | $3.24B | $3.49B | $2.69B | $3.62B | $3.66B | $1.17B | $1.45B | $1.33B | $5.84B | $1.94B | $2.48B | $1.87B | $2.27B | $2.19B | $-1.76B | $1.73B | $1.12B | $766.00M |
| EBITDA margin | 23.3% | 25.0% | 26.2% | 27.8% | 20.9% | 26.0% | 26.3% | 12.4% | 13.5% | 13.4% | 57.5% | 18.3% | 22.4% | 16.5% | 19.4% | 18.0% | -17.5% | 16.7% | 10.5% | 6.8% |
| EBIT | $1.84B | $2.24B | $2.61B | $2.85B | $2.00B | $2.95B | $2.95B | $530.00M | $657.00M | $574.00M | $5.04B | $1.19B | $1.71B | $1.08B | $1.45B | $1.32B | $-2.83B | $750.00M | $119.00M | $-215.00M |
| Interest expense | $101.00M | $124.00M | $148.00M | $117.00M | $115.00M | $54.00M | $113.00M | $155.00M | $167.00M | $146.00M | $89.00M | $85.00M | $93.00M | $111.00M | $153.00M | $207.00M | $413.00M | $508.00M | $408.00M | $290.00M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $1.40B | $1.71B | $2.01B | $2.21B | $1.42B | $2.22B | $2.33B | $2.01B | $2.50B | $968.00M | $4.96B | $602.00M | $1.55B | $1.00B | $1.10B | $1.28B | $-2.43B | $2.66B | $-649.00M | $-957.00M |
| Net income growth (YoY) | — | +22.3% | +18.0% | +9.5% | -35.6% | +56.6% | +4.6% | -13.5% | +24.1% | -61.2% | +412.9% | -87.9% | +156.8% | -35.3% | +10.1% | +16.5% | -289.5% | +209.2% | -124.4% | -47.5% |
| Profit margin | 13.5% | 15.2% | 16.3% | 17.6% | 11.1% | 16.0% | 16.7% | 21.4% | 23.3% | 9.7% | 48.9% | 5.7% | 13.9% | 8.8% | 9.4% | 10.6% | -24.2% | 25.6% | -6.1% | -8.5% |