Baxter International Inc. (BAX)
NYSE: BAX · Real-Time Price · USD
26.13
+0.20 (0.77%)
Aug 28, 2026, 4:00 PM EDT - Market closed
Baxter International Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | -1,063 | -957 | -649 | 2,656 | -2,433 | 1,284 |
Depreciation & Amortization | 953 | 981 | 997 | 984 | 1,072 | 867 |
Loss (Gain) From Sale of Assets | - | - | - | - | 75 | - |
Asset Writedown & Restructuring Costs | 778 | 802 | 519 | -11 | 3,165 | 11 |
Stock-Based Compensation | 115 | 117 | 114 | 115 | 140 | 146 |
Other Operating Activities | 324 | 116 | 74 | -2,698 | -885 | -225 |
Change in Accounts Receivable | -96 | -132 | -35 | -38 | -48 | -170 |
Change in Inventory | 124 | -119 | -201 | -128 | -198 | -27 |
Change in Accounts Payable | 32 | 3 | 112 | 92 | -67 | 105 |
Change in Other Net Operating Assets | 176 | 140 | -112 | 235 | -293 | 35 |
Operating Cash Flow | 1,319 | 845 | 1,019 | 1,726 | 1,211 | 2,222 |
Operating Cash Flow Growth | 72.42% | -17.08% | -40.96% | 42.53% | -45.50% | 18.95% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -504 | -513 | -446 | -432 | -377 | -691 |
Cash Acquisitions | - | - | - | - | - | -10,502 |
Sale (Purchase) of Intangibles | -3 | -9 | -14 | -4 | -258 | - |
Investment in Securities | - | - | 34 | - | - | - |
Other Investing Activities | -52 | 3,363 | -200 | 3,649 | -296 | -7 |
Investing Cash Flow | -559 | 2,841 | -626 | 3,213 | -931 | -11,200 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | - | 2,126 | - | 55 | 246 |
Long-Term Debt Issued | - | 1,998 | - | - | - | 11,903 |
Total Debt Issued | 1,998 | 1,998 | 2,126 | - | 55 | 12,149 |
Short-Term Debt Repaid | - | -300 | - | -301 | - | - |
Long-Term Debt Repaid | - | -5,489 | -2,657 | -2,634 | -954 | -2,823 |
Total Debt Repaid | -1,984 | -5,789 | -2,657 | -2,935 | -954 | -2,823 |
Net Debt Issued (Repaid) | 14 | -3,791 | -531 | -2,935 | -899 | 9,326 |
Issuance of Common Stock | 27 | 30 | 71 | 95 | 127 | 187 |
Repurchase of Common Stock | - | - | - | - | -32 | -600 |
Common Dividends Paid | -184 | -348 | -590 | -586 | -573 | -530 |
Other Financing Activities | -127 | -107 | -31 | -63 | -61 | -138 |
Financing Cash Flow | -270 | -4,216 | -1,081 | -3,489 | -1,438 | 8,245 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -22 | 84 | -96 | 26 | -76 | -47 |
Net Cash Flow | 468 | -446 | -784 | 1,476 | -1,234 | -780 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 815 | 332 | 573 | 1,294 | 834 | 1,531 |
Free Cash Flow Growth | 243.88% | -42.06% | -55.72% | 55.16% | -45.53% | 32.10% |
Free Cash Flow Margin | 7.11% | 2.95% | 5.39% | 12.49% | 8.29% | 12.61% |
Free Cash Flow Per Share | 1.58 | 0.65 | 1.12 | 2.55 | 1.66 | 3.01 |
Levered Free Cash Flow | 1,000 | 2,433 | 319 | 1,200 | 138.38 | 844.88 |
Unlevered Free Cash Flow | 1,183 | 2,614 | 574 | 1,517 | 396.5 | 944.25 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 303 | 303 | 401 | 484 | 355 | 145 |
Cash Income Tax Paid | 222 | 222 | 223 | 174 | 168 | 182 |
Change in Working Capital | 236 | -108 | -236 | 161 | -606 | -57 |