Stocks Health care BAX
NYSE · Health careBaxter International Inc (BAX)
Baxter International Inc brought in $11.6B of revenue over the twelve months to September 30, 2026, up 5.3% from a year earlier. It posted a net loss of $723M. Operating cash flow minus capital spending left $332M of free cash flow in fiscal 2025. At September 30, 2026 it held $2B in cash against $844M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on October 29, 2026.
Key facts about Baxter International Inc
- Net worth
- Baxter International Inc has a market value (market cap) of $13.3B at the latest share price, and shareholders' equity of $6.5B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $11.2B (+5.7% year on year), with a net loss of $957M. Over the 12 months to September 30, 2026: revenue $11.6B, net loss $723M.
- Cash flow
- In fiscal 2025 operations brought in $845M of cash; after $513M of capital spending, free cash flow was $332M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on October 29, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Baxter International Inc's next report is expected around February 11, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- Baxter International Inc declared dividends of $0.52 per share in fiscal 2025, a yield of 2.01% at the current price.
What Baxter International Inc does
Baxter International Inc is registered with the SEC under industry code SIC 3841 (Surgical & Medical Instruments & Apparatus). Its shares trade on NYSE under the ticker BAX.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $11.2B | -$957M | -$1.87 | $332M |
| 2024 | $10.6B | -$649M | -$1.27 | $573M |
| 2023 | $10.4B | $2.7B | $5.23 | $1.3B |
| 2022 | $10.1B | -$2.4B | -$4.83 | $834M |
| 2021 | $12.1B | $1.3B | $2.53 | $1.5B |
| 2020 | $11.7B | $1.1B | $2.13 | $1.2B |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where BAX ranks in Health care
Dividends
Baxter International Inc declared $0.52 per share in fiscal 2025. At the current price that is a yield of 2.01%. It paid out $348M in cash dividends.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $0.52 | $348M | n/a |
| 2024 | $1.04 | $590M | n/a |
| 2023 | $1.16 | $586M | 22% |
| 2022 | $1.15 | $573M | n/a |
| 2021 | $1.09 | $530M | 41% |
| 2020 | $0.96 | $473M | 43% |
Latest SEC filings
What Baxter International Inc has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 29, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 5% to $3B versus the same quarter last year; diluted EPS $0.57 versus -$0.09.
- October 29, 2026
- October 27, 2026Passive stake changed SCHEDULE 13G/A
- August 19, 2026
- August 18, 2026
- August 4, 2026
- August 4, 2026Other event 8-K
- July 30, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 5.3% to $3B versus the same quarter last year; diluted EPS $0.24 versus $0.18.
- July 30, 2026
- July 14, 2026
What is BAX worth? A DCF from its reported cash flow
Insider trades
What the people running Baxter International Inc did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 3 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 2, 2026 | Foster JuliePresident, Front Line Care | Shares withheld for tax | 2,098 | $53.9K |
| September 2, 2026 | Hider Andrew P.President and CEO, Director | Shares withheld for tax | 54,276 | $1.4M |
| September 1, 2026 | Teaff JamesPresident, CCS | Shares withheld for tax | 750 | $19.1K |
| June 2, 2026 | Teaff JamesPresident, CCS | Shares withheld for tax | 321 | $6K |
| June 2, 2026 | Wallace Steven P.President, Adv. Surgery | Shares withheld for tax | 153 | $2.9K |
| June 1, 2026 | Zielinski Anita ASVP, Interim CFO, CAO & Cntrlr | Received as pay | 13,426 | - |
| May 5, 2026 | Ampofo William A. IIDirector | Received as pay | 12,836 | - |
| May 5, 2026 | Craig Jeffrey ADirector | Received as pay | 12,836 | - |
Who owns BAX
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Pzena Investment Management LLC13G, passive | 12.7% | April 21, 2026 |
| Dodge & Cox13G, passive | 11.2% | November 13, 2025 |
| Fmr LLC13G, passive with 1 related filers | 10.3% | June 5, 2026 |
| BlackRock Portfolio Management LLC13G, passive | 8.7% | January 21, 2026 |
| Vanguard Capital Management13G, passive | 7.36% | April 29, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 685 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 81,842,105 | +2,441,441 |
| Pzena Investment Management LLC | 65,295,393 | +767,570 |
| Dodge & Cox | 58,386,345 | +1,131,775 |
| Fmr LLC | 53,913,831 | +7,649,027 |
| Vanguard Capital Management LLC | 33,754,280 | +247,305 |
| Vanguard Portfolio Management LLC | 24,057,190 | +63,835 |
| State Street Corp | 20,600,468 | +620,511 |
| Greenhaven Associates Inc | 14,285,228 | -22,460 |
| Geode Capital Management, LLC | 14,123,689 | +360,724 |
| Invesco Ltd. | 12,361,881 | -759,290 |
| UBS Group AG | 9,529,309 | +5,209,812 |
| First Pacific Advisors, LP | 7,618,145 | +917,220 |
| Goldman Sachs Group Inc | 7,150,462 | +3,280,907 |
| Equity Investment Corp | 6,886,265 | +516,271 |
| Morgan Stanley | 6,359,790 | -988,182 |
| Bank of America Corp | 6,237,950 | +71,817 |
| State Farm Mutual Automobile Insurance Co | 6,225,060 | 0 |
| Charles Schwab Investment Management Inc | 5,996,711 | +407,157 |
| Dimensional Fund Advisors LP | 5,612,144 | -319,647 |
| Northern Trust Corp | 4,864,004 | +516,686 |
Insiders
19 insiders reported holding 1,848,024 shares in total, about $47.7M at the last price.
| Holder | Shares |
|---|---|
| Hider Andrew P.President and CEO, Director | 518,447 |
| Grade Joel T.EVP and CFO | 271,674 |
| Mason Jeanne KEVP, Chief HR Officer | 199,853 |
| Rosenbloom David S.EVP and General Counsel | 138,216 |
| Rasul ReazurEVP,Group Pres,Healthcare | 125,557 |
| Soriano Maria CeciliaGroup Pres., ITT & Pharma. | 75,045 |
| Shafer David BrentDirector | 72,804 |
| Wallace Steven P.President, Adv. Surgery | 70,128 |
| Zielinski Anita ASVP, Interim CFO, CAO & Cntrlr | 59,714 |
| Wendell Amy McBrideDirector | 44,235 |
Questions about BAX
What does Baxter International Inc do?
Baxter International Inc is a company in the Health care sector, listed on NYSE as BAX. Its shares trade on NYSE under the ticker BAX.
What is Baxter International Inc's net worth?
Baxter International Inc has a market value (market cap) of $13.3B at the latest share price, and shareholders' equity of $6.5B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Baxter International Inc profitable?
No. Over the twelve months to September 30, 2026 it reported a net loss of $723M on revenue of $11.6B.
How much revenue does Baxter International Inc make?
Over the twelve months to September 30, 2026 Baxter International Inc reported revenue of $11.6B. That is 5.3% more than a year earlier.
When did Baxter International Inc last report?
Its most recent periodic report is the quarterly report (10-Q) filed on October 29, 2026. It covers the period to September 30, 2026.
When is Baxter International Inc's next earnings report?
Baxter International Inc's next report is expected around February 11, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Does Baxter International Inc pay a dividend?
Yes. Baxter International Inc declared dividends of $0.52 per share in fiscal 2025, a yield of 2.01% at the current price.
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Where the numbers come from
Financial figures are the values Baxter International Inc tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.