Baxter International Inc. (BAX) Financial Statements
Baxter International financial statements at a glance
Baxter International reported revenue of $11.24 billion for fiscal year 2025 (ended December 31, 2025), up 5.7% from fiscal year 2024. Net income was -$957.00 million, a net margin of 8.5% loss, and diluted earnings per share were -$1.87.
At the end of fiscal year 2025 it had total assets of $20.06 billion, total liabilities of $13.95 billion and shareholders' equity of $6.13 billion, with cash and short-term investments of $1.97 billion and total debt of $9.78 billion.
Its operations brought in $845.00 million of cash; capital spending was $522.00 million, leaving free cash flow of $323.00 million.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
Baxter International Inc.
Income Statement
Annual • USD
Baxter International key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $11.2B | $10.6B | $10.4B | $10.1B | $12.1B |
| Gross profit | $3.4B | $4.0B | $4.2B | $3.5B | $4.7B |
| Operating income | $177.0M | $439.0M | $707.0M | -$33.0M | $1.3B |
| Net income | -$957.0M | -$649.0M | $2.7B | -$2.4B | $1.3B |
| Diluted EPS | -$1.87 | -$1.27 | $5.25 | -$4.83 | $2.53 |
| Total assets | $20.1B | $25.8B | $28.3B | $28.3B | $33.5B |
| Total liabilities | $14.0B | $18.8B | $19.8B | $22.4B | $24.4B |
| Shareholders' equity | $6.1B | $7.0B | $8.4B | $5.8B | $9.1B |
| Cash and short-term investments | $2.0B | $1.8B | $3.1B | $1.7B | $3.0B |
| Total debt | $9.8B | $13.4B | $14.1B | $17.2B | $18.3B |
| Operating cash flow | $845.0M | $1.0B | $1.7B | $1.2B | $2.2B |
| Capital spending | $522.0M | $460.0M | $436.0M | $635.0M | $691.0M |
| Free cash flow | $323.0M | $559.0M | $1.3B | $576.0M | $1.5B |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was Baxter International's revenue in fiscal year 2025?
$11.24 billion, up 5.7% from $10.64 billion in fiscal year 2024.
How much profit does Baxter International make?
Baxter International reported net income of -$957.00 million for fiscal year 2025 (8.5% of revenue); operating income was $177.00 million.
How much cash and debt does Baxter International have?
At the end of fiscal year 2025: cash and short-term investments of $1.97 billion and total debt of $9.78 billion.
What is Baxter International's free cash flow?
$323.00 million in fiscal year 2025 (operating cash flow of $845.00 million minus capital spending of $522.00 million).
