SuperworthBaxter International profit margin BAX
Gross, operating and net profit as a share of revenue over the last twelve months, from 2009.
- Net margin, 12 months
- −9.3%
- Operating margin, 12 months
- −2.4%
- Net margin on a year earlier
- −7.8 pts
- Peer median
- 12.9%
Over the twelve months to Jun 30, 2026, Baxter International kept −9.3% of its revenue as net profit, with an operating margin of −2.4% and a gross margin of 30.1%.
Five years earlier its net margin was 9.2%.
The median for 10 medical instruments and supplies stocks of a similar size is 12.9%.
Profit margin over time
Fiscal year by fiscal year
| Fiscal year | Net margin | Operating margin | Gross margin |
|---|---|---|---|
| FY2025 | −8.5% | −2.7% | 30.1% |
| FY2024 | −6.1% | 0.1% | 37.5% |
| FY2023 | 25.6% | 6.0% | 40.1% |
| FY2022 | −16.8% | −14.5% | 34.9% |
| FY2021 | 10.0% | 13.4% | 39.9% |
| FY2020 | 9.4% | 13.8% | 39.3% |
| FY2019 | 8.8% | 15.6% | 41.9% |
| FY2018 | 13.9% | 14.3% | 42.9% |
| FY2017 | 6.8% | 12.2% | 42.3% |
| FY2016 | 48.9% | 7.1% | 40.4% |
| FY2015 | 9.7% | 4.5% | 41.6% |
| FY2014 | 23.3% | 21.9% | 42.7% |
| FY2013 | 13.4% | 17.7% | 49.9% |
| FY2012 | 16.4% | 19.9% | 51.5% |
| FY2011 | 16.0% | 21.2% | 50.7% |
Quarter by quarter
| Quarter | Ended | Net margin, 12 months | Change on a year | Operating margin |
|---|---|---|---|---|
| Q2 FY26 | −9.3% | −7.8 pts | −2.4% | |
| Q1 FY26 | −9.7% | −4.5 pts | −2.7% | |
| Q4 FY25 | −8.5% | −2.4 pts | −2.7% | |
| Q3 FY25 | −3.1% | −4.1 pts | −0.1% | |
| Q2 FY25 | −1.4% | −25.0 pts | −0.3% | |
| Q1 FY25 | −5.2% | −30.6 pts | −0.4% | |
| Q4 FY24 | −6.1% | −31.7 pts | 0.1% | |
| Q3 FY24 | 1.0% | −21.8 pts | 7.3% | |
| Q2 FY24 | 23.6% | +46.6 pts | 7.6% | |
| Q1 FY24 | 25.4% | +43.8 pts | 5.8% | |
| Q4 FY23 | 25.6% | +42.4 pts | 6.0% | |
| Q3 FY23 | 22.8% | +39.4 pts | 5.7% |
Against its peers
Companies in Medical - Instruments & Supplies nearest Baxter International's size, closest first, today.
| Company | Profit margin |
|---|---|
| BAXBaxter International | −9.3% |
| PENPenumbra | 10.7% |
| SOLVSolventum | 17.3% |
| COOCooper Companies | 13.5% |
| ALGNAlign Technology | 10.0% |
| GMEDGlobus Medical | 17.0% |
| PODDInsulet | 12.3% |
| MSAMSA Safety | 16.1% |
| WSTWest Pharmaceutical Services | 17.0% |
| MMSIMerit Medical Systems | 9.2% |
| HAEHaemonetics | 7.1% |
| Peer median | 12.9% |
Where Baxter International ranks
What the profit margin tells you
Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).
Compare within an industry. 10% is superb for a retailer and poor for a software company.
More on Baxter International
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.