BAXTER INTERNATIONAL INC
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BAX Q4 2025 request
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Pick an endpoint and run the request.Income Statement
| Metric | Q4 2025 | Q4 2024 | YoY |
|---|---|---|---|
| Revenue | 2,974 | 2,753 | +8.0% |
Show Product Lines breakouts |
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| Advanced Surgery · Medical Products & Therapies | 177 | 157 | +12.7% |
| Advanced Surgery · Medical Products & Therapies | 151 | 135 | +11.9% |
| Advanced Surgery · Medical Products & Therapies | 328 | 292 | +12.3% |
| Care & Connectivity Solutions · Healthcare Systems & Technologies | 367 | 366 | +0.3% |
| Care & Connectivity Solutions · Healthcare Systems & Technologies | 170 | 138 | +23.2% |
| Care & Connectivity Solutions · Healthcare Systems & Technologies | 537 | 504 | +6.5% |
| Drug Compounding · Pharmaceuticals | 316 | 260 | +21.5% |
| Drug Compounding · Pharmaceuticals | 316 | 260 | +21.5% |
| Front Line Care · Healthcare Systems & Technologies | 219 | 208 | +5.3% |
| Front Line Care · Healthcare Systems & Technologies | 71 | 72 | -1.4% |
| Front Line Care · Healthcare Systems & Technologies | 290 | 280 | +3.6% |
| Infusion Therapies & Technologies · Medical Products & Therapies | 543 | 561 | -3.2% |
| Infusion Therapies & Technologies · Medical Products & Therapies | 517 | 461 | +12.1% |
| Infusion Therapies & Technologies · Medical Products & Therapies | 1,060 | 1,022 | +3.7% |
| Injectables & Anesthesia · Pharmaceuticals | 190 | 214 | -11.2% |
| Injectables & Anesthesia · Pharmaceuticals | 162 | 169 | -4.1% |
| Injectables & Anesthesia · Pharmaceuticals | 352 | 383 | -8.1% |
Show Business Segments breakouts |
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| Healthcare Systems & Technologies · Non Us | 241 | 210 | +14.8% |
| Healthcare Systems & Technologies · Operating Segments | 827 | 784 | +5.5% |
| Healthcare Systems & Technologies · US | 586 | 574 | +2.1% |
| Medical Products & Therapies · Non Us | 668 | 596 | +12.1% |
| Medical Products & Therapies · Operating Segments | 1,388 | 1,314 | +5.6% |
| Medical Products & Therapies · US | 720 | 718 | +0.3% |
| Pharmaceuticals · Non Us | 478 | 429 | +11.4% |
| Pharmaceuticals · Operating Segments | 668 | 643 | +3.9% |
| Pharmaceuticals · US | 190 | 214 | -11.2% |
Show Geography breakouts |
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| Emerging markets | 398 | 349 | +14.0% |
| Non Us | 1,422 | 1,243 | +14.4% |
| Non Us · Corporate Non Segment | 35 | 8 | +337.5% |
| Rest of world | 1,024 | 894 | +14.5% |
| US | 1,552 | 1,510 | +2.8% |
| US · Corporate Non Segment | 56 | 4 | +1300.0% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 91 | 12 | +658.3% |
| Cost of Revenue | 2,397 | 1,794 | +33.6% |
Show Business Segments breakouts |
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| Healthcare Systems & Technologies · Operating Segments | 449 | 370 | +21.4% |
| Medical Products & Therapies · Operating Segments | 864 | 731 | +18.2% |
| Pharmaceuticals · Operating Segments | 503 | 415 | +21.2% |
| Gross Profit | 577 | 959 | -39.8% |
| Selling, General & Administrative | 761 | 761 | 0.0% |
Show Business Segments breakouts |
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| Healthcare Systems & Technologies · Operating Segments | 215 | 224 | -4.0% |
| Medical Products & Therapies · Operating Segments | 295 | 308 | -4.2% |
| Pharmaceuticals · Operating Segments | 113 | 107 | +5.6% |
| Research & Development | 126 | 211 | -40.3% |
Show Business Segments breakouts |
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| Healthcare Systems & Technologies · Operating Segments | 48 | 46 | +4.3% |
| Medical Products & Therapies · Operating Segments | 46 | 56 | -17.9% |
| Pharmaceuticals · Operating Segments | 24 | 24 | 0.0% |
| Other Operating Income Expense Net | -66 | -3 | -2100.0% |
| Operating Income | -729 | -435 | -67.6% |
Show Business Segments breakouts |
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| Healthcare Systems & Technologies · Operating Segments | 126 | 145 | -13.1% |
| Medical Products & Therapies · Operating Segments | 214 | 217 | -1.4% |
| Pharmaceuticals · Operating Segments | 39 | 102 | -61.8% |
| Reportable Segment · Operating Segments | 379 | 464 | -18.3% |
Show Disposal Group Classification breakouts |
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| Discontinued Operations Disposed Of By Sale | -20 | 81 | -124.7% |
| Interest Income Expense Nonoperating Net | 58 | 90 | -35.6% |
| Other Non-Operating Income (Expense) | -31 | -4 | -675.0% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | -2 | -2 | 0.0% |
Show Disposal Group Classification breakouts |
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| Discontinued Operations Disposed Of By Sale | 0 | 12 | -100.0% |
| Income Before Taxes | -756 | -521 | -45.1% |
| Income Tax Expense (Benefit) | 279 | -33 | +945.5% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | 0 | 3 | -100.0% |
| Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest | -1,035 | -488 | -112.1% |
| Income Loss From Discontinued Operations Net Of Tax | -93 | -22 | -322.7% |
Show Disposal Group Classification breakouts |
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| Discontinued Operations Disposed Of By Sale | -93 | -22 | -322.7% |
| Net Income | -1,128 | -510 | -121.2% |
Show Equity Components breakouts |
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| Parent | -1,128 | -512 | -120.3% |
| Retained Earnings | -1,128 | -512 | -120.3% |
| Net Income | -1,128 | -512 | -120.3% |
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts |
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| Reclassification Out Of Accumulated Other Comprehensive Income | 1 | -1 | +200.0% |
| Income Loss From Continuing Operations Per Basic Share | -2.01 | -0.96 | -109.4% |
| Income Loss From Continuing Operations Per Diluted Share | -2.01 | -0.96 | -109.4% |
| Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share | -0.19 | -0.04 | -375.0% |
| Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share | -0.19 | -0.04 | -375.0% |
| EPS (Basic) | -2.2 | -1 | -120.0% |
| EPS (Diluted) | -2.2 | -1 | -120.0% |
| Wtd Avg Shares (Basic) | 0 | 1 | -100.0% |
| Wtd Avg Shares (Diluted) | -1 | -1 | 0.0% |
| Comprehensive Income | -1,149 | -875 | -31.3% |
| Operating Lease Lease Income | 86 | 92 | -6.5% |
| Other Expenses (Q) | — | — | — |
Show Business Segments breakouts |
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| Medical Products & Therapies · Operating Segments | -31 | 2 | -1650.0% |
| Pharmaceuticals · Operating Segments | -11 | -5 | -120.0% |
Balance Sheet
| Metric | Q4 2025 | Q4 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 1,966 | 1,764 | +11.5% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level2 | 1.97 | 1.76 | +11.9% |
| Accounts Receivable | 1,861 | 1,679 | +10.8% |
| Inventory | 2,232 | 2,046 | +9.1% |
| Prepaid Expenses & Other Current Assets | 813 | 753 | +8.0% |
| Total Current Assets | 6,872 | 8,853 | -22.4% |
| Non-Current Assets | |||
| Property, Plant & Equipment | 2,910 | 2,870 | +1.4% |
| Goodwill | 4,929 | 5,275 | -6.6% |
Show Product Lines breakouts |
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| Front Line Care · Healthcare Systems & Technologies | 1.52 | 1.99 | -23.6% |
Show Business Segments breakouts |
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| Healthcare Systems & Technologies · Operating Segments | 3,087 | 3,550 | -13.0% |
| Medical Products & Therapies · Operating Segments | 1,265 | 1,185 | +6.8% |
| Pharmaceuticals · Operating Segments | 577 | 540 | +6.9% |
Show Consolidation Items breakouts |
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| Operating Segments | 4,929 | 5,275 | -6.6% |
| Operating Lease Right-of-Use Assets | 276 | 306 | -9.8% |
| Other Non-Current Assets | 699 | 755 | -7.4% |
| Total Assets | 20,055 | 25,782 | -22.2% |
| Intangible Assets (Q) | — | — | — |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Customer Relationships | 2,298 | 2,509 | -8.4% |
| Developed technology, including patents | 774 | 1,056 | -26.7% |
| Other Intangible Assets | 19 | 20 | -5.0% |
| Trade Names | 781 | 851 | -8.2% |
| Deferred Tax Assets | 200 | 204 | -2.0% |
| Other Assets | |||
| Intangible Assets Net Excluding Goodwill | 4,369 | 5,223 | -16.4% |
| Current Liabilities | |||
| Short Term Borrowings | 1 | 2,126 | -100.0% |
| Long Term Debt And Capital Lease Obligations Current | 2 | 626 | -99.7% |
| Accounts Payable | 999 | 968 | +3.2% |
| Accrued Liabilities | 1,968 | 1,861 | +5.7% |
| Total Current Liabilities | 2,970 | 6,511 | -54.4% |
| Deferred Revenue (Current) | 141 | 131 | +7.6% |
| Non-Current Liabilities | |||
| Operating Lease Liabilities | 223 | 243 | -8.2% |
| Other Non-Current Liabilities | 1,287 | 1,076 | +19.6% |
| Total Liabilities | 13,953 | 18,758 | -25.6% |
| Long-Term Debt | 9,438 | — | — |
| Long-Term Debt (Q) | — | — | — |
Show Measurement Input Type breakouts |
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| Carrying Reported Amount Fair Value Disclosure | 9,436 | 10,374 | -9.0% |
| Estimate Of Fair Value Fair Value Disclosure | 8,714 | 9,295 | -6.3% |
| Deferred Tax Liabilities | 245 | 103 | +137.9% |
| Contract With Customer Liability Noncurrent | 36 | 40 | -10.0% |
| Other Liabilities | |||
| Long Term Debt And Lease Obligation Excluding Current Maturities | 9,473 | 10,374 | -8.7% |
| Stockholders' Equity | |||
| Common Stock | 683 | 683 | 0.0% |
| Treasury Stock Common Value | -10,873 | -11,059 | +1.7% |
| Additional Paid In Capital Common Stock | 6,368 | 6,421 | -0.8% |
| Retained Earnings | 13,705 | 14,929 | -8.2% |
| Accumulated Other Comprehensive Income | -3,754 | -4,010 | +6.4% |
Show Statement Operating Activities Segment breakouts |
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| Segment Continuing Operations | -110 | -108 | -1.9% |
| Total Stockholders' Equity | 6,129 | 6,964 | -12.0% |
| Minority Interest | -27 | 60 | -145.0% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 6,102 | 7,024 | -13.1% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | -514 | -475 | -8.2% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent | -110 | -108 | -1.9% |
| Accumulated Net Unrealized Investment Gain Loss | 3 | 3 | 0.0% |
| Accumulated Other Comprehensive Income | -3,754 | -4,010 | +6.4% |
| Accumulated Translation Adjustment | -3,133 | -3,430 | +8.7% |
| Additional Paid In Capital | 6,368 | 6,421 | -0.8% |
| Common Stock | 683 | 683 | 0.0% |
| Noncontrolling Interest | -27 | 60 | -145.0% |
| Parent | 6,129 | 6,964 | -12.0% |
| Retained Earnings | 13,705 | 14,929 | -8.2% |
| Treasury Stock Common | -10,873 | -11,059 | +1.7% |
| Total Liabilities & Equity | 20,055 | 25,782 | -22.2% |
Cash Flow Statement
| Metric | YTD Q4 2025 | YTD Q4 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation & Amortization | 240 | 245 | -2.0% |
| Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash | -8 | -7 | -14.3% |
| Deferred Income Taxes And Tax Credits | 192 | -126 | +252.4% |
| Stock-Based Compensation | 37 | 39 | -5.1% |
| Other Non-Cash Items | 8 | 21 | -61.9% |
| Change in Accounts Receivable | -88 | -18 | -388.9% |
| Change in Inventory | 241 | -21 | +1247.6% |
| Change in Prepaid & Other Assets | 104 | -64 | +262.5% |
| Change in Accounts Payable | 39 | 109 | -64.2% |
| Increase Decrease In Accrued Expenses And Other Current Liabilities | 180 | -148 | +221.6% |
| Other Operating Activities Cash Flow Statement | -14 | 40 | -135.0% |
| Net Cash Provided By Used In Operating Activities Continuing Operations | 596 | 443 | +34.5% |
| Cash Provided By Used In Operating Activities Discontinued Operations | -12 | 45 | -126.7% |
| Net Cash from Operations | 584 | 488 | +19.7% |
| Investing Activities | |||
| Other Investing Activities | 26 | 8 | +225.0% |
| Net Cash Provided By Used In Investing Activities Continuing Operations | -114 | -129 | +11.6% |
| Cash Provided By Used In Investing Activities Discontinued Operations | -84 | -76 | -10.5% |
| Net Cash from Investing | -198 | -205 | +3.4% |
| Financing Activities | |||
| Debt Repayments | -1,984 | -1,830 | -8.4% |
| Payments Of Dividends Common Stock | -87 | -147 | +40.8% |
| Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options | 5 | 8 | -37.5% |
| Proceeds From Payments For Other Financing Activities | -39 | -16 | -143.8% |
| Net Cash from Financing | -147 | 141 | -204.3% |
| Supplemental | |||
| Unpaid Capital Expenditures (Q) | — | — | — |
Show Property Plant And Equipment By Type breakouts |
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| Property Plant And Equipment | 29 | 30 | -3.3% |
| Other Cash Flow | |||
| Net Change in Cash | 240 | 334 | -28.1% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations | 1,968 | 2,414 | -18.5% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 1,968 | 1,766 | +11.4% |
Values in millions USD. Source: SEC EDGAR 10-K filing.