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Baxter International BAX
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Baxter International Income Statement 2025-2006 | BAX
Brief overview of financial results at Baxter International
The figures are compared over a five-year interval. Revenue reported by Baxter International was 11.7 billion dollars at the beginning of the period and 11.2 billion dollars at the end. The total change was −3.7%, with a CAGR of approximately −0.7%. The scale of the core business was largely unchanged.
The five-year change in gross profit reached −26.3%: from $4.6 billion to $3.4 billion. The cost base moved against the top-line trend and weighed on the gross result. At the margin level, the figure shifted from 39.3% to 30.1%. Weakening gross profitability reduces the quality of the top-line trend.
EBITDA changed from 2.4 billion dollars to 673 million dollars (−72.4%). EBITDA underperformed the top-line trend. EBITDA margin was 20.9% at the start and 6% at the end. Operating return per unit of revenue declined.
Net income moved from $1.1 billion at the start to −$957 million at the end. A positive result was not sustained and the period ended with a loss.
Over the period, capitalization shifted from $40 billion to $9.7 billion (−75.9%). The financial trend was stronger than the market valuation.
What the figures show
The financial trajectory is weak and requires a cautious interpretation. The weaker side of the profile includes pressure on operating profitability, pressure from direct costs and weak sales momentum. Investors should continue to monitor margins, costs, and earnings quality.
Annual Income Statement Baxter International
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
9.65 B | 17.3 B | 20.4 B | 20.2 B | 42.8 B | 40 B | 46.1 B | 38.3 B | 39 B | 25.6 B | 19.9 B | 20.7 B | 20.4 B | 20.3 B | 17.1 B | 13.3 B | 16.2 B | 20.6 B | 20 B | - |
Shares |
513 M | 510 M | 506 M | 504 M | 502 M | 509 M | 509 M | 534 M | 543 M | 546 M | 545 M | 542 M | 543 M | 551 M | 569 M | 590 M | 607 M | 625 M | 644 M | - |
Historical Prices |
18.8 | 33.9 | 40.4 | 40.1 | 85.2 | 78.6 | 81.1 | 63.1 | 61.4 | 41.6 | 35.4 | 36 | 33.2 | 31 | 22.4 | 22.6 | 26.7 | 33 | 31 | 20.7 |
Net Income |
-957 M | -649 M | 2.66 B | -2.43 B | 1.28 B | 1.1 B | 1 B | 1.62 B | 717 M | 4.96 B | 968 M | 2.5 B | 2.01 B | 2.33 B | 2.22 B | 1.42 B | 2.2 B | 2.01 B | 1.71 B | - |
Revenue |
11.2 B | 10.6 B | 10.4 B | 10.1 B | 12.1 B | 11.7 B | 11.4 B | 11.1 B | 10.6 B | 10.2 B | 9.97 B | 16.7 B | 15.3 B | 14.2 B | 13.9 B | - | - | - | - | - |
Cost of Revenue |
7.86 B | 6.65 B | 6.21 B | 6.51 B | 7.43 B | 7.09 B | 6.6 B | 6.34 B | 6.11 B | 6.05 B | 5.78 B | 6.14 B | 5.25 B | 6.8 B | 6.85 B | 6.88 B | 6.04 B | 6.22 B | 5.74 B | - |
Gross Profit |
3.38 B | 3.98 B | 4.15 B | 3.55 B | 4.72 B | 4.59 B | 4.76 B | 4.78 B | 4.46 B | 4.11 B | 4.15 B | 8.16 B | 7.6 B | 7.3 B | 7.05 B | 5.96 B | 6.52 B | 6.13 B | 5.52 B | - |
Operating Income |
-308 M | 14 M | 707 M | -2.84 B | 1.35 B | 1.62 B | 1.77 B | 1.58 B | 1.29 B | 745 M | 573 M | 656 M | 496 M | - | - | - | - | - | - | - |
Interest Expense |
290 M | 408 M | 508 M | 413 M | 207 M | 153 M | 111 M | 93 M | 85 M | 89 M | 146 M | 167 M | 155 M | 113 M | 92 M | 115 M | 117 M | 148 M | -18 M | - |
EBITDA |
673 M | 1.01 B | 1.69 B | -1.77 B | 2.22 B | 2.44 B | 1.66 B | 2.43 B | 2.02 B | 1.52 B | 1.21 B | 3.71 B | 3.49 B | 3.53 B | 3.62 B | 685 M | 638 M | 631 M | 581 M | - |
Operating Expenses |
- | - | - | - | - | - | 3.88 B | 3.13 B | 3.2 B | 3.39 B | 3.7 B | 5.45 B | 4.93 B | 4.48 B | 4.1 B | - | - | - | - | - |
General and Administrative Expenses |
2.89 B | 2.97 B | 2.95 B | 3.1 B | 2.84 B | 2.47 B | 3.29 B | -48 M | 33 M | - | - | 4.03 B | - | 3.32 B | - | 2.91 B | 2.73 B | 2.7 B | 2.52 B | - |
All numbers in USD currency
Quarterly Income Statement Baxter International
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | 2010-Q1 | 2009-Q3 | 2009-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
517 M | 515 M | 514 M | 513 M | 512 M | 510 M | 510 M | 508 M | 507 M | 506 M | 505 M | - | 504 M | 504 M | 503 M | - | 500 M | 503 M | 505 M | - | 511 M | 509 M | 507 M | - | 511 M | 510 M | 512 M | 528 M | 534 M | 535 M | 539 M | - | 545 M | 544 M | 541 M | - | 544 M | 548 M | 549 M | - | 546 M | 544 M | 543 M | - | 542 M | 542 M | 542 M | - | 543 M | 543 M | 545 M | - | 548 M | 550 M | 559 M | - | 566 M | 570 M | 577 M | 584 M | 593 M | 602 M | 605 M | 607 M |
Net Income |
126 M | -15 M | -46 M | 91 M | 126 M | 140 M | -314 M | 37 M | 2.51 B | -141 M | 44 M | - | -2.94 B | 252 M | 71 M | - | 450 M | 298 M | 298 M | 168 M | 356 M | 246 M | 332 M | -23 M | 369 M | 313 M | 342 M | 305 M | 518 M | 341 M | 382 M | -71 M | 251 M | 265 M | 272 M | 243 M | 130 M | 1.21 B | 3.38 B | 205 M | 1 M | 332 M | 430 M | 953 M | 468 M | 520 M | 556 M | 326 M | 544 M | 590 M | 552 M | 494 M | 583 M | 661 M | 588 M | 463 M | 576 M | 615 M | 570 M | 525 M | 535 M | -63 M | 530 M | 587 M |
Revenue |
2.96 B | 2.7 B | 2.84 B | 2.81 B | 2.62 B | 2.7 B | 2.69 B | 2.49 B | 2.6 B | 3.71 B | 3.51 B | - | 3.61 B | 3.59 B | 3.71 B | - | 3.23 B | 3.1 B | 2.95 B | 3.18 B | 2.97 B | 2.72 B | 2.8 B | 3.04 B | 2.85 B | 2.83 B | 2.64 B | 2.83 B | 2.76 B | 2.81 B | 2.68 B | 2.77 B | 2.71 B | 2.6 B | 2.48 B | 2.64 B | 2.56 B | 2.58 B | 2.38 B | 2.6 B | 2.49 B | 2.48 B | 2.4 B | 2.79 B | 2.71 B | 4.15 B | 3.85 B | 4.32 B | 3.71 B | 3.67 B | 3.45 B | 3.75 B | 3.48 B | 3.57 B | 3.39 B | 3.59 B | 3.48 B | 3.54 B | 3.28 B | - | - | - | - | - |
Cost of Revenue |
1.93 B | 1.81 B | 1.88 B | 1.82 B | 1.76 B | 1.67 B | 1.66 B | 1.53 B | 1.54 B | 2.6 B | 2.24 B | - | 2.56 B | 2.22 B | 2.36 B | - | 1.9 B | 1.86 B | 1.8 B | - | 1.78 B | 1.68 B | 1.64 B | - | 1.62 B | 1.68 B | 1.56 B | 1.65 B | 1.53 B | 1.59 B | 1.57 B | - | 1.58 B | 1.47 B | 1.43 B | - | 1.49 B | 1.61 B | 1.41 B | - | 1.45 B | 1.45 B | 1.38 B | - | 1.52 B | 2.18 B | 1.96 B | - | 1.8 B | 1.73 B | 1.69 B | - | 1.67 B | 1.7 B | 1.67 B | - | 1.71 B | 1.7 B | 1.61 B | 1.56 B | 1.56 B | 1.88 B | 1.51 B | 1.48 B |
Gross Profit |
1.03 B | 891 M | 950 M | 991 M | 861 M | 1.03 B | 1.03 B | 961 M | 1.06 B | 1.11 B | 1.28 B | - | 1.04 B | 1.37 B | 1.35 B | - | 1.32 B | 1.23 B | 1.14 B | 1.19 B | 1.2 B | 1.04 B | 1.16 B | 1.3 B | 1.23 B | 1.15 B | 1.08 B | 1.18 B | 1.23 B | 1.22 B | 1.12 B | 1.16 B | 1.13 B | 1.13 B | 1.04 B | 1.1 B | 1.07 B | 973 M | 966 M | 1.07 B | 1.03 B | 1.02 B | 1.02 B | 1.21 B | 1.19 B | 1.09 B | 1.09 B | 2 B | 1.91 B | 1.87 B | 1.7 B | 1.9 B | 1.81 B | 1.87 B | 1.71 B | 1.76 B | 1.77 B | 1.84 B | 1.68 B | 1.66 B | 1.64 B | 1.04 B | 1.63 B | 1.64 B |
Operating Income |
217 M | 66 M | 172 M | 191 M | 58 M | 155 M | 179 M | 115 M | 179 M | -17 M | 129 M | - | -2.88 B | 264 M | 163 M | - | 513 M | 424 M | 390 M | - | 470 M | 331 M | 409 M | - | 503 M | 350 M | 383 M | 391 M | 382 M | 377 M | 434 M | - | 300 M | 347 M | 353 M | - | 186 M | 68 M | 188 M | - | 92 M | 87 M | 92 M | - | 217 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Interest Expense |
5 M | -6 M | 7 M | - | 3 M | 1 M | 24 M | 9 M | 12 M | 132 M | 127 M | - | 109 M | 93 M | 88 M | - | 54 M | 37 M | 37 M | - | 42 M | 40 M | 30 M | - | 28 M | 28 M | 25 M | 33 M | 24 M | 24 M | 22 M | - | 22 M | 21 M | 20 M | - | 20 M | 16 M | 33 M | - | 38 M | 36 M | 35 M | - | 36 M | 47 M | 48 M | - | 51 M | 24 M | 31 M | - | 31 M | 27 M | 27 M | - | 23 M | 22 M | 22 M | 30 M | 30 M | -2 M | -51 M | 1 M |
EBITDA |
693 M | 303 M | 262 M | 297 M | 305 M | 250 M | 252 M | 386 M | 326 M | 140 M | 442 M | - | -2.71 B | 457 M | 543 M | - | 1.16 B | 491 M | 607 M | - | 1.08 B | 732 M | 608 M | - | 1.08 B | 735 M | 575 M | 391 M | 968 M | 764 M | 624 M | - | 862 M | 725 M | 547 M | - | 785 M | 463 M | 377 M | - | 685 M | 464 M | 279 M | - | 809 M | 489 M | 236 M | - | 573 M | 366 M | 183 M | - | 534 M | 355 M | 175 M | - | 503 M | 327 M | 158 M | 506 M | 335 M | 166 M | 466 M | 302 M |
General and Administrative Expenses |
735 M | 728 M | 708 M | 718 M | 703 M | 754 M | 723 M | 729 M | 744 M | 964 M | 995 M | - | 941 M | 970 M | 1.05 B | - | 680 M | 675 M | 627 M | - | 601 M | 590 M | 628 M | - | 627 M | 641 M | 601 M | 627 M | 684 M | 676 M | 633 M | - | 680 M | 630 M | 564 M | - | 726 M | 709 M | 641 M | - | 794 M | 783 M | 784 M | - | 827 M | 988 M | 910 M | - | 975 M | 838 M | 795 M | - | 743 M | 789 M | 752 M | - | 787 M | 765 M | 716 M | 670 M | 721 M | 683 M | 672 M | 660 M |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Baxter International (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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