Baxter International Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
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	7,865	6,652	6,210	6,508	7,426
Gross Profit	3,379	3,984	4,150	3,549	4,720
Selling, General & Admin	2,890	2,967	2,953	3,097	2,845
Research & Development	518	590	518	450	531
Other Operating Expenses	279	413	-28	2,847	-6
Total Operating Expenses	3,687	3,970	3,443	6,394	3,370
Operating Income	-308	14	707	-2,845	1,350
Interest Expense	-238	-341	-439	-394	-193
Other Non-Operating Income (Expense)	-41	-38	26	9	41
Total Non-Operating Income (Expense)	-279	-379	-413	-385	-152
Pretax Income	-587	-365	294	-3,230	1,198
Provision for Income Taxes	395	37	61	-135	83
Net Income	-957	-649	2,656	-2,433	1,284
Minority Interest in Earnings	-	11	7	12	11
Earnings From Discontinued Operations	-57	-312	2,482	692	262
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	5.23	-4.83	2.53
EPS Growth	-	-	-	-	18.78%
Free Cash Flow	332	573	1,294	834	1,531
Free Cash Flow Growth	-42.06%	-55.72%	55.16%	-45.53%	32.10%
Free Cash Flow Per Share	0.65	1.12	2.55	1.65	3.01
Dividends 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	30.05%	37.46%	40.06%	35.29%	38.86%
Operating Margin	-2.74%	0.13%	6.82%	-28.29%	11.11%
Profit Margin	-8.00%	-3.07%	1.75%	-30.95%	8.50%
FCF Margin	2.95%	5.39%	12.49%	8.29%	12.60%
EBITDA	673	1,011	1,691	-1,773	2,217
EBITDA Margin	5.99%	9.51%	16.32%	-17.63%	18.25%
EBIT	-308	14	707	-2,845	1,350
EBIT Margin	-2.74%	0.13%	6.82%	-28.29%	11.11%
Effective Tax Rate	-67.29%	-10.14%	20.75%	4.18%	6.93%

Updated Feb 12, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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