Revenue
2.98 billion USD
2026 Q3 · USD
Exact inputs and evidence
- Revenue: 2976000000 USD Source
Fundies. English
BAXTER INTERNATIONAL INC
EDGARAnnual consolidated revenue for 2025: about USD 11.24B, using the latest reported figures. The previous period, 2024, was about USD 10.64B.
Latest quarter
Operating margin
7.56%
2026 Q3 · %
Operating cash flow
558 million USD
2026 Q3 · USD
- Cash and cash equivalents
- 1.98 billion USD Source
Exact value
1980000000 USD
- Long-term debt including current maturities
- 9.44 billion USD Source
Exact value
9438000000 USD
- Shares outstanding
- Not available
Trailing twelve months
The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.
Revenue
11.6 billion USD
2025-10-01 – 2026-09-30
Exact inputs and evidence
Net income
-723 million USD
2025-10-01 – 2026-09-30
Exact inputs and evidence
Operating cash flow
1.64 billion USD
2025-10-01 – 2026-09-30
Exact inputs and evidence
- Operating cash flow: 845000000 USD · 2025-01-01 – 2025-12-31 Source
- Operating cash flow: 261000000 USD · 2025-01-01 – 2025-09-30 Source
- Operating cash flow: 213000000 USD · 2026-01-01 – 2026-03-31 Source
- Operating cash flow: 498000000 USD · 2026-01-01 – 2026-06-30 Source
- Operating cash flow: 213000000 USD · 2026-01-01 – 2026-03-31 Source
- Operating cash flow: 1056000000 USD · 2026-01-01 – 2026-09-30 Source
- Operating cash flow: 498000000 USD · 2026-01-01 – 2026-06-30 Source
Includes later revisions to earlier periods. Annual charts exclude incomplete years.
Latest filing recorded: 2026-10-29.
Financial data available through: 2025-12-31.
Coverage by financial measure
- Revenue: 11 of 11 periods available· newest 2025-12-31
- Operating income: 11 of 11 periods available· newest 2025-12-31
- Net income: 11 of 11 periods available· newest 2025-12-31
- Operating cash flow: 11 of 11 periods available· newest 2025-12-31
- capital expenditure: No compatible figures in this window
- Total assets: 11 of 11 periods available· newest 2025-12-31
- Total liabilities: 9 of 11 periods available· newest 2025-12-31
- Current assets: 11 of 11 periods available· newest 2025-12-31
- Current liabilities: 11 of 11 periods available· newest 2025-12-31
- Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
- Long-term debt including current maturities: 6 of 11 periods available· newest 2025-12-31
- shares outstanding: No compatible figures in this window
Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.
What changed year over year
Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.
Revenue
+5.7%Prior period
USD 10.64 billion
–
Current period
USD 11.24 billion
–
Exact inputs and evidence
11244000000 − 10636000000 = 608000000 USD
10636000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source11244000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Net income
−USD 308 millionPrior period
−USD 649 million
–
Current period
−USD 957 million
–
Exact inputs and evidence
-957000000 − -649000000 = -308000000 USD
-649000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source-957000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Operating cash flow
-17.1%Prior period
USD 1.02 billion
–
Current period
USD 845 million
–
Exact inputs and evidence
845000000 − 1019000000 = -174000000 USD
1019000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source845000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Comparable inputs unavailable for: Capital expenditure.
Where revenue goes
How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.
2025 2025-01-01 – 2025-12-31
- Revenue USD 11.24 billion 100% of revenue
- Cost of revenue USD 7.87 billion 70% of revenue
- Operating expenses USD 3.41 billion 30% of revenue
- Other operating costs Derived USD 279 million 2.5% of revenue
- Operating income −USD 308 million −2.7% of revenue
- Tax, interest and other Derived USD 649 million 5.8% of revenue
- Net income −USD 957 million −8.5% of revenue
Cash
- Operating cash flow USD 845 million 7.5% of revenue
- Capital expenditure Unavailable An input is unavailable.
- Free cash flow Derived Unavailable An input is unavailable.
Share of revenue by period
- Net income
- Tax, interest and other
- Operating costs
- 2016 Net income was higher than operating income, so the split is not drawn.
- 2017 88%
- 2018 14%86%
- 2019 84%
- 2020 9.4%86%
- 2021 11%89%
- 2022 Operating loss: operating costs were 128% of revenue.
- 2023 Net income was higher than operating income, so the split is not drawn.
- 2024 Net loss: net income was −6.1% of revenue.
- 2025 Operating loss: operating costs were 103% of revenue.
Values and sources
| Period | Revenue | Operating costs | Operating income | Tax, interest and other | Net income | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | 10163000000 | 9418000000 Derived | 745000000 | -4220000000 Derived | 4965000000 | Unavailable | Source
|
| 2017 2017-01-01 – 2017-12-31 | 10584000000 | 9296000000 Derived | 1288000000 | 686000000 Derived | 602000000 | Unavailable | Source
|
| 2018 2018-01-01 – 2018-12-31 | 11099000000 | 9515000000 Derived | 1584000000 | 38000000 Derived | 1546000000 | Unavailable | Source
|
| 2019 2019-01-01 – 2019-12-31 | 11362000000 | 9590000000 Derived | 1772000000 | 771000000 Derived | 1001000000 | Unavailable | Source
|
| 2020 2020-01-01 – 2020-12-31 | 11673000000 | 10057000000 Derived | 1616000000 | 514000000 Derived | 1102000000 | Unavailable | Source
|
| 2021 2021-01-01 – 2021-12-31 | 12146000000 | 10796000000 Derived | 1350000000 | 66000000 Derived | 1284000000 | Unavailable | Source
|
| 2022 2022-01-01 – 2022-12-31 | 10057000000 | 12902000000 Derived | -2845000000 | -412000000 Derived | -2433000000 | Unavailable | Source
|
| 2023 2023-01-01 – 2023-12-31 | 10360000000 | 9653000000 Derived | 707000000 | -1949000000 Derived | 2656000000 | Unavailable | Source
|
| 2024 2024-01-01 – 2024-12-31 | 10636000000 | 10622000000 Derived | 14000000 | 663000000 Derived | -649000000 | Unavailable | Source
|
| 2025 2025-01-01 – 2025-12-31 | 11244000000 | 11552000000 Derived | -308000000 | 649000000 Derived | -957000000 | Unavailable | Source
|
Amounts are exact, in USD.
Growth
Sales over time and how quickly they are changing.
Revenue
Revenue reported for each complete financial period.
USD 11.2B 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Revenue | 10163000000 |
|
| 2017 | Revenue | 10584000000 |
|
| 2018 | Revenue | 11099000000 |
|
| 2019 | Revenue | 11362000000 |
|
| 2020 | Revenue | 11673000000 |
|
| 2021 | Revenue | 12146000000 |
|
| 2022 | Revenue | 10057000000 |
|
| 2023 | Revenue | 10360000000 |
|
| 2024 | Revenue | 10636000000 |
|
| 2025 | Revenue | 11244000000 |
|
Revenue growth
Change in revenue from the same financial period one year earlier.
5.7% 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Year over year | 2% |
|
| 2017 | Year over year | 4.1% |
|
| 2018 | Year over year | 4.9% |
|
| 2019 | Year over year | 2.4% |
|
| 2020 | Year over year | 2.7% |
|
| 2021 | Year over year | 4.1% |
|
| 2022 | Year over year | -17.2% |
|
| 2023 | Year over year | 3% |
|
| 2024 | Year over year | 2.7% |
|
| 2025 | Year over year | 5.7% |
|
Profit and cash
How much revenue becomes profit, and how much cash operations generate.
Profit margins
Operating income, net income and free cash flow as a share of revenue.
Operating margin -2.7% 2025
Net margin -8.5% 2025
- Operating margin
- Net margin
- Free cash flow margin
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Operating margin | 7.3% |
|
| 2017 | Operating margin | 12.2% |
|
| 2018 | Operating margin | 14.3% |
|
| 2019 | Operating margin | 15.6% |
|
| 2020 | Operating margin | 13.8% |
|
| 2021 | Operating margin | 11.1% |
|
| 2022 | Operating margin | -28.3% |
|
| 2023 | Operating margin | 6.8% |
|
| 2024 | Operating margin | 0.1% |
|
| 2025 | Operating margin | -2.7% |
|
| 2016 | Net margin | 48.9% |
|
| 2017 | Net margin | 5.7% |
|
| 2018 | Net margin | 13.9% |
|
| 2019 | Net margin | 8.8% |
|
| 2020 | Net margin | 9.4% |
|
| 2021 | Net margin | 10.6% |
|
| 2022 | Net margin | -24.2% |
|
| 2023 | Net margin | 25.6% |
|
| 2024 | Net margin | -6.1% |
|
| 2025 | Net margin | -8.5% |
|
| 2016 | Free cash flow margin | Not reported |
|
| 2017 | Free cash flow margin | Not reported |
|
| 2018 | Free cash flow margin | Not reported |
|
| 2019 | Free cash flow margin | Not reported |
|
| 2020 | Free cash flow margin | Not reported |
|
| 2021 | Free cash flow margin | Not reported |
|
| 2022 | Free cash flow margin | Not reported |
|
| 2023 | Free cash flow margin | Not reported |
|
| 2024 | Free cash flow margin | Not reported |
|
| 2025 | Free cash flow margin | Not reported |
|
Operating cash flow
Cash generated by the company’s normal business operations.
USD 845M 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Operating cash flow | 1654000000 |
|
| 2017 | Operating cash flow | 1714000000 |
|
| 2018 | Operating cash flow | 2017000000 |
|
| 2019 | Operating cash flow | 2104000000 |
|
| 2020 | Operating cash flow | 1868000000 |
|
| 2021 | Operating cash flow | 2222000000 |
|
| 2022 | Operating cash flow | 1211000000 |
|
| 2023 | Operating cash flow | 1726000000 |
|
| 2024 | Operating cash flow | 1019000000 |
|
| 2025 | Operating cash flow | 845000000 |
|
Free cash flow
Operating cash flow minus capital expenditure for the same period and unit.
Not enough comparable data to show this history.
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Free cash flow | Unavailable |
|
| 2017 | Free cash flow | Unavailable |
|
| 2018 | Free cash flow | Unavailable |
|
| 2019 | Free cash flow | Unavailable |
|
| 2020 | Free cash flow | Unavailable |
|
| 2021 | Free cash flow | Unavailable |
|
| 2022 | Free cash flow | Unavailable |
|
| 2023 | Free cash flow | Unavailable |
|
| 2024 | Free cash flow | Unavailable |
|
| 2025 | Free cash flow | Unavailable |
|
Balance sheet
Liabilities and short-term ability to meet obligations at each period end.
Liabilities to assets
Total liabilities as a share of total assets.
69.6% 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016-12-31 | Liabilities / assets | Not reported |
|
| 2017 | Liabilities / assets | 46.7% |
|
| 2018 | Liabilities / assets | 50% |
|
| 2019 | Liabilities / assets | 56.5% |
|
| 2020 | Liabilities / assets | 56.4% |
|
| 2021 | Liabilities / assets | 72.8% |
|
| 2022 | Liabilities / assets | 79.2% |
|
| 2023 | Liabilities / assets | 70.1% |
|
| 2024 | Liabilities / assets | 72.8% |
|
| 2025 | Liabilities / assets | 69.6% |
|
Current assets to current liabilities
Current assets divided by current liabilities.
2.31× 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Current assets / current liabilities | 2.4× |
|
| 2017 | Current assets / current liabilities | 2.57× |
|
| 2018 | Current assets / current liabilities | 2.12× |
|
| 2019 | Current assets / current liabilities | 2.32× |
|
| 2020 | Current assets / current liabilities | 2.52× |
|
| 2021 | Current assets / current liabilities | 2.09× |
|
| 2022 | Current assets / current liabilities | 1.69× |
|
| 2023 | Current assets / current liabilities | 1.48× |
|
| 2024 | Current assets / current liabilities | 1.36× |
|
| 2025 | Current assets / current liabilities | 2.31× |
|
Cash generation
Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.
| Period | Net income | Operating cash flow | Capital expenditure | Free cash flow |
|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | USD 4.97 billion Exact valueExact value: 4965000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.65 billion Exact valueExact value: 1654000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2017 2017-01-01 – 2017-12-31 | USD 602 million Exact valueExact value: 602000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.71 billion Exact valueExact value: 1714000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2018 2018-01-01 – 2018-12-31 | USD 1.55 billion Exact valueExact value: 1546000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.02 billion Exact valueExact value: 2017000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2019 2019-01-01 – 2019-12-31 | USD 1 billion Exact valueExact value: 1001000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.1 billion Exact valueExact value: 2104000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2020 2020-01-01 – 2020-12-31 | USD 1.1 billion Exact valueExact value: 1102000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.87 billion Exact valueExact value: 1868000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2021 2021-01-01 – 2021-12-31 | USD 1.28 billion Exact valueExact value: 1284000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.22 billion Exact valueExact value: 2222000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2022 2022-01-01 – 2022-12-31 | −USD 2.43 billion Exact valueExact value: -2433000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.21 billion Exact valueExact value: 1211000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2023 2023-01-01 – 2023-12-31 | USD 2.66 billion Exact valueExact value: 2656000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.73 billion Exact valueExact value: 1726000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2024 2024-01-01 – 2024-12-31 | −USD 649 million Exact valueExact value: -649000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.02 billion Exact valueExact value: 1019000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2025 2025-01-01 – 2025-12-31 | −USD 957 million Exact valueExact value: -957000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 845 million Exact valueExact value: 845000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.
Dataset coverage and company identifiers
Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.
178 filings · 12,379 latest values · 12,379 originally reported values
Dataset published . Source filing dates and reporting periods are shown separately.
Identifiers: 0000010456, 10456, BAX, edgar:10456
Also known as BAXTER INTERNATIONAL INC, BAXTER INTERNATIONAL INC., Baxter International Inc, Baxter International Inc.