Baxter International (BAX) FCF Margin (2009 - 2026)
Baxter International (BAX) posted quarterly FCF Margin of 6.11% for Q2 2026, up 3.0% year-over-year from 5.94% in Q2 2025, and up 117.32% quarter-over-quarter from 2.81% in Q1 2026.
Baxter International (BAX) FCF Margin (2009 - 2026) Analysis & Trends
Baxter International (BAX) has reported FCF Margin for 18 consecutive years, with 6.11% the latest figure, recorded in Q2 2026.
- In Q2 2026, FCF Margin rose 3.0% year-over-year to 6.11%; the TTM figure through Jun 2026 stood at 7.56% (up 452.0% YoY), while the FY2025 annual figure was 3.9%, down 149.0% from the prior year.
- FCF Margin rose to 6.11% in Q2 2026 per BAX's latest filing, from 2.81% in the prior quarter.
- Across five years, FCF Margin topped out at 16.09% in Q4 2023 and bottomed at 12.0% in Q1 2025.
- Historically, FCF Margin has averaged 6.04% across 5 years, with a median of 5.25% in 2024.
- Annual changes were most pronounced in 2025 — FCF Margin slumped 1413 bps — and 2026, when it soared 1481 bps.
- Baxter International's FCF Margin stood at 13.35% in 2022, then climbed by 20 bps to 16.09% in 2023, then retreated by 20 bps to 12.93% in 2024, then slumped by 53 bps to 6.09% in 2025, then rose by 0 bps to 6.11% in 2026.
- Business Quant data shows BAX's FCF Margin at 6.11% in Q2 2026, 2.81% in Q1 2026, and 6.09% in Q2 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Intuitive Surgical | 132.71 Bn | 127.50 Bn | 1.96 Bn | 32.79% |
| 2 | Becton Dickinson | 51.57 Bn | 50.71 Bn | 2.32 Bn | 12.70% |
| 3 | Alcon | 35.52 Bn | 34.17 Bn | 1.68 Bn | 4.82% |
| 4 | Resmed | 33.28 Bn | 31.81 Bn | 861.22 Mn | 27.57% |
| 5 | Medline | 27.86 Bn | 25.18 Bn | 2.22 Bn | 7.86% |
| 6 | West Pharmaceutical Services | 25.15 Bn | 24.71 Bn | 329.20 Mn | 9.26% |
| 7 | Solventum | 15.31 Bn | 14.91 Bn | 1.29 Bn | 6.52% |
| 8 | Cooper Companies | 14.86 Bn | 14.72 Bn | 735.40 Mn | 8.91% |
| 9 | Baxter International | 13.63 Bn | 11.48 Bn | 1.03 Bn | 6.11% |
| 10 | Align Technology | 11.37 Bn | 10.27 Bn | 757.43 Mn | 14.87% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 6.11% |
| Mar 31, 2026 | 2.81% |
| Mar 31, 2025 | -8.42% |
| Dec 31, 2024 | 12.93% |
| Sep 30, 2024 | 4.41% |
| Jun 30, 2024 | 1.67% |
| Mar 31, 2024 | 2.13% |
| Dec 31, 2023 | -2.93% |
| Sep 30, 2023 | 13.58% |
| Jun 30, 2023 | 7.26% |
| Mar 31, 2023 | 12.86% |
| Dec 31, 2022 | -0.13% |
| Sep 30, 2022 | 1.77% |
| Jun 30, 2022 | 0.67% |
| Mar 31, 2022 | 1.91% |
| Dec 31, 2021 | 17.73% |
| Sep 30, 2021 | 15.38% |
| Jun 30, 2021 | 10.30% |
| Mar 31, 2021 | 6.99% |
| Dec 31, 2020 | 15.00% |