BAXNYSESurgical & Medical Instruments & ApparatusFiscal year ends December 31

BAXTER INTERNATIONAL INC

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026

$24.99−0.29 (-1.15%)

Close on Oct 19, 2026

Margins

Share of revenue, fiscal years 2011 to 2025

30.1%−9.2 pts over 5 years

-2.7%−16.6 pts over 5 years

-8.5%−18.0 pts over 5 years

Compound annual growth to fiscal 2025

Per year	1 year	3 years	5 years	10 years
Revenue	+5.7%	+3.8%	-0.7%	+1.2%
Gross profit	-15.2%	-1.6%	-5.9%	-2.0%
Free cash flow	-42.1%	-26.4%	-22.1%	-9.1%
Dividend per share	-50.0%	-23.2%	-11.4%	-8.5%

10 fiscal years. Hover a measure to see how it is calculated.

Measure	FY2016	FY2020	FY2025
Return on equity	57.9%	13.3%	-14.6%
Return on assets	27.2%	5.8%	-4.2%
Current ratio	2.40	2.52	2.31
Debt to equity	0.34	0.71	1.55
Net debt to EBITDA	-0.00×	1.01×	11.16×
Interest coverage	8.4×	10.6×	-1.1×
Inventory turnover	4.0×	4.0×	3.7×
Capex to revenue	7.1%	6.1%	4.6%
Diluted shares	551M	517M	513M

Return on equity split into margin, efficiency and leverage

Net margin-8.5%

Asset turnover0.49×

Equity multiplier3.50×

Return on equity, FY2025-14.6%

Fiscal year	Net margin	Asset turnover	Equity multiplier	Return on equity
FY2025	-8.5%	0.49×	3.50×	-14.6%
FY2024	-6.1%	0.39×	3.52×	-8.4%
FY2023	25.6%	0.37×	3.97×	37.3%
FY2022	-24.2%	0.33×	4.15×	-32.6%
FY2021	10.6%	0.45×	3.01×	14.5%
FY2020	9.4%	0.61×	2.31×	13.3%
FY2019	8.8%	0.67×	2.16×	12.7%
FY2018	13.9%	0.68×	1.93×	18.2%
FY2017	5.7%	0.65×	1.88×	6.9%
FY2016	48.9%	0.56×	2.13×	57.9%

Parsed from the XBRL in Baxter International's annual and quarterly filings with the SEC
Per-share figures adjusted for the 2-for-1 split on May 31, 2001
Fourth quarters derived from the annual report minus nine months
Every figure in the statements links to its source filing