Baxter International Inc (BAX) stock
BAXNYSESurgical & Medical Instruments & ApparatusFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 29, 2026Score 9/304% above fair value
$25.81+0.07 (+0.27%)
Close on Nov 13, 2026Market cap $13.35BP/E –Yield 2.01%
Baxter International operating margin
Operating margin is operating income as a percentage of revenue.
Baxter International's operating margin for the twelve months ending Sep 30, 2026 was -1.9%. For fiscal 2025 it was -2.7%, against 0.1% the year before. The highest annual figure on record is 15.6% in fiscal 2019.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | -2.7% | −2.9 |
| FY2024 | Dec 31, 2024 | 0.1% | −6.7 |
| FY2023 | Dec 31, 2023 | 6.8% | +35.1 |
| FY2022 | Dec 31, 2022 | -28.3% | −39.4 |
| FY2021 | Dec 31, 2021 | 11.1% | −2.7 |
| FY2020 | Dec 31, 2020 | 13.8% | −1.8 |
| FY2019 | Dec 31, 2019 | 15.6% | +1.3 |
| FY2018 | Dec 31, 2018 | 14.3% | +2.1 |
| FY2017 | Dec 31, 2017 | 12.2% | +4.8 |
| FY2016 | Dec 31, 2016 | 7.3% | +2.8 |
| FY2015 | Dec 31, 2015 | 4.5% | −1.6 |
| FY2014 | Dec 31, 2014 | 6.1% | +0.9 |
| FY2013 | Dec 31, 2013 | 5.3% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 7.6% | +1.5 |
| Q2 FY2026 | Jun 30, 2026 | 7.3% | +0.5 |
| Q1 FY2026 | Mar 31, 2026 | 2.4% | +0.2 |
| Q4 FY2025 | Dec 31, 2025 | -24.5% | −8.7 |
| Q3 FY2025 | Sep 30, 2025 | 6.1% | +0.3 |
| Q2 FY2025 | Jun 30, 2025 | 6.8% | +0.2 |
| Q1 FY2025 | Mar 31, 2025 | 2.2% | −2.4 |
| Q4 FY2024 | Dec 31, 2024 | -15.8% | −26.9 |
| Q3 FY2024 | Sep 30, 2024 | 5.7% | −1.1 |
| Q2 FY2024 | Jun 30, 2024 | 6.6% | +7.3 |
| Q1 FY2024 | Mar 31, 2024 | 4.6% | −0.7 |
| Q4 FY2023 | Dec 31, 2023 | 11.1% | +19.5 |
| Q3 FY2023 | Sep 30, 2023 | 6.9% | +86.7 |
| Q2 FY2023 | Jun 30, 2023 | -0.7% | −8.0 |
| Q1 FY2023 | Mar 31, 2023 | 5.3% | +0.7 |
| Q4 FY2022 | Dec 31, 2022 | -8.3% | −9.1 |
| Q3 FY2022 | Sep 30, 2022 | -79.8% | −95.7 |
| Q2 FY2022 | Jun 30, 2022 | 7.3% | −6.3 |
| Q1 FY2022 | Mar 31, 2022 | 4.6% | −8.7 |
| Q4 FY2021 | Dec 31, 2021 | 0.8% | −12.0 |
| Q3 FY2021 | Sep 30, 2021 | 15.9% | +0.1 |
| Q2 FY2021 | Jun 30, 2021 | 13.7% | +1.5 |
| Q1 FY2021 | Mar 31, 2021 | 13.2% | −1.4 |
| Q4 FY2020 | Dec 31, 2020 | 12.8% | −4.9 |
| Q3 FY2020 | Sep 30, 2020 | 15.8% | −1.8 |
| Q2 FY2020 | Jun 30, 2020 | 12.2% | −0.2 |
| Q1 FY2020 | Mar 31, 2020 | 14.6% | +0.1 |
| Q4 FY2019 | Dec 31, 2019 | 17.6% | +3.8 |
| Q3 FY2019 | Sep 30, 2019 | 17.6% | +3.8 |
| Q2 FY2019 | Jun 30, 2019 | 12.4% | −1.1 |
| Q1 FY2019 | Mar 31, 2019 | 14.5% | −1.6 |
| Q4 FY2018 | Dec 31, 2018 | 13.8% | +3.4 |
| Q3 FY2018 | Sep 30, 2018 | 13.8% | +2.8 |
| Q2 FY2018 | Jun 30, 2018 | 13.4% | +0.1 |
| Q1 FY2018 | Mar 31, 2018 | 16.1% | +1.9 |
| Q4 FY2017 | Dec 31, 2017 | 10.4% | −1.1 |
| Q3 FY2017 | Sep 30, 2017 | 11.1% | – |
| Q2 FY2017 | Jun 30, 2017 | 13.3% | – |
| Q1 FY2017 | Mar 31, 2017 | 14.3% | – |
| Q4 FY2016 | Dec 31, 2016 | 11.5% | – |
See a number that looks wrong?