BAXTER INTERNATIONAL INC

BAX · Mid cap · 6 articles

Financial highlights

Metric	FY 12/31/25	FY 12/31/24	FY 12/31/23	FY 12/31/22	FY 12/31/21
Income Statement
Revenue	$11.2B	$10.6B	$10.4B	$10.1B	$12.1B
Cost of revenue	$7.9B	$6.7B	$6.2B	$6.5B	$7.4B
Gross profit	$3.4B	$4.0B	$4.2B	$3.5B	$4.7B
Selling, general & administrative	$2.9B	$3.0B	$3.0B	$3.1B	$2.8B
Research and development	$518.0M	$590.0M	$518.0M	$450.0M	$531.0M
Operating income	-$308.0M	$14.0M	$707.0M	-$2.8B	$1.4B
Interest expense	$290.0M	$408.0M	$508.0M	$413.0M	$207.0M
Pretax income	-$505.0M	-$289.0M	$242.0M	-$3.2B	$1.1B
Income tax expense	$395.0M	$37.0M	$61.0M	-$135.0M	$83.0M
Net income	-$957.0M	-$649.0M	$2.7B	-$2.4B	$1.3B
Balance Sheet
Cash and equivalents	$2.0B	$1.8B	$3.1B	$1.6B	$3.0B
Current assets	$6.9B	$8.9B	$9.6B	$8.0B	$8.9B
Total assets	$20.1B	$25.8B	$28.3B	$28.3B	$33.5B
Current liabilities	$3.0B	$6.5B	$6.5B	$4.7B	$4.2B
Total liabilities	$14.0B	$18.8B	$19.8B	$22.4B	$24.4B
Total debt	$9.5B	—	—	—	—
Stockholders' equity	$6.1B	$7.0B	$8.4B	$5.8B	$9.1B
Cash Flow Statement
Cash from operations	$845.0M	$1.0B	$1.7B	$1.2B	$2.2B
Depreciation and amortization	$981.0M	$997.0M	$984.0M	$1.1B	$867.0M
Stock-based compensation	$117.0M	$114.0M	$115.0M	$140.0M	$146.0M
Capital expenditure	$513.0M	$446.0M	$432.0M	$377.0M	$691.0M
Free cash flow	$332.0M	$573.0M	$1.3B	$834.0M	$1.5B
Dividends paid	$348.0M	$590.0M	$586.0M	$573.0M	$530.0M
Share repurchases	—	$0	$0	$32.0M	$600.0M
Impairments	$485.0M	$425.0M	$0	$2.8B	$0

Shares outstanding 516.5M · Free float 94.9%

Annual filing data through FY ended December 31, 2025; float as of July 8, 2026.