Baxter International Inc. (BAX)

Baxter International Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	11,244	10,636	10,360	10,057	12,146
Revenue Growth (YoY)	5.72%	2.66%	3.01%	-17.20%	4.05%
Cost of Revenue	7,226	6,426	6,180	5,892	7,281
Gross Profit	4,018	4,210	4,180	4,165	4,865
Selling, General & Admin	2,670	2,824	2,804	2,811	2,605
Research & Development	503	510	508	447	530
Other Operating Expenses	-192	-12	-28	-1	-
Operating Expenses	2,981	3,322	3,284	3,257	3,135
Operating Income	1,037	888	896	908	1,730
Interest Expense	-290	-408	-508	-413	-159
Interest & Investment Income	52	67	69	19	14
Currency Exchange Gain (Loss)	-18	-25	-53	3	-17
Other Non Operating Income (Expenses)	11	21	6	-	-2
EBT Excluding Unusual Items	792	543	410	517	1,566
Merger & Restructuring Charges	-210	-185	-141	-445	-356
Impairment of Goodwill	-485	-425	-	-2,812	-
Gain (Loss) on Sale of Investments	-8	3	-27	11	-7
Gain (Loss) on Sale of Assets	16	-	-	-75	-
Asset Writedown	-290	-50	-	-344	-
Legal Settlements	-11	-17	-	-	-13
Other Unusual Items	-309	-158	-	-100	-74
Pretax Income	-505	-289	242	-3,248	1,116
Income Tax Expense	395	37	61	-135	83
Earnings From Continuing Operations	-900	-326	181	-3,113	1,033
Earnings From Discontinued Operations	-57	-323	2,475	681	262
Net Income to Company	-957	-649	2,656	-2,432	1,295
Minority Interest in Earnings	-	-	-	-1	-11
Net Income	-957	-649	2,656	-2,433	1,284
Net Income to Common	-957	-649	2,656	-2,433	1,284
Net Income Growth	-	-	-	-	16.52%
Shares Outstanding (Basic)	513	510	506	504	502
Shares Outstanding (Diluted)	513	510	508	504	508
Shares Change (YoY)	0.59%	0.39%	0.79%	-0.79%	-1.74%
EPS (Basic)	-1.87	-1.27	5.25	-4.83	2.56
EPS (Diluted)	-1.87	-1.27	5.25	-4.83	2.53
EPS Growth	-	-	-	-	18.58%
Free Cash Flow	332	573	1,294	834	1,531
Free Cash Flow Per Share	0.65	1.12	2.55	1.66	3.01
Dividend Per Share	0.520	1.040	1.160	1.150	1.085
Dividend Growth	-50.00%	-10.35%	0.87%	5.99%	13.61%
Gross Margin	35.73%	39.58%	40.35%	41.41%	40.05%
Operating Margin	9.22%	8.35%	8.65%	9.03%	14.24%
Profit Margin	-8.51%	-6.10%	25.64%	-24.19%	10.57%
Free Cash Flow Margin	2.95%	5.39%	12.49%	8.29%	12.61%
EBITDA	2,018	1,885	1,880	1,980	2,597
EBITDA Margin	17.95%	17.72%	18.15%	19.69%	21.38%
D&A For EBITDA	981	997	984	1,072	867
EBIT	1,037	888	896	908	1,730
EBIT Margin	9.22%	8.35%	8.65%	9.03%	14.24%
Effective Tax Rate	-	-	25.21%	-	7.44%

Updated Feb 12, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q