Baxter International (BAX) FCF Margin (2009 - 2026)
Baxter International (BAX) reported FCF Margin of 15.05% for Q3 2026, up 10.61 percentage points from 4.44% a year earlier and up 8.94 percentage points from the prior quarter.
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Analysis
Baxter International (BAX) FCF Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Baxter International's FCF Margin came in at 10.00%, up 6.93 percentage points year-over-year; for FY2025, it came in at 3.90%, down 1.49 percentage points from FY2024.
- FCF Margin has a five-year change of -6.05 percentage points (FY2020 to FY2025).
- By year, FCF Margin came in at 5.39% in FY2024 (-7.10 pp), 12.49% in FY2023 (+4.20 pp), 8.29% in FY2022 (-4.31 pp) and 12.60% in FY2021 (+2.66 pp).
- Five-year quarterly FCF Margin spans a low of -12.00% in Q1 2025 and a high of 17.73% in Q4 2021.
- Year over year, FCF Margin has now increased in each of the last six quarters, with an average year-over-year change of +1.88 percentage points over the last eight quarters.
- The high point for year-over-year FCF Margin in five years was Q1 2026 (a gain of 14.81 percentage points); the low point was Q1 2025 (a drop of 14.13 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 6.11% (Q2 2026), 2.81% (Q1 2026) and 15.33% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 266.22 Bn | 242.86 Bn | 5.13 Bn | 17.41% |
| 2 | Abbott Laboratories | 191.31 Bn | 165.77 Bn | 7.39 Bn | 9.41% |
| 3 | Danaher | 166.16 Bn | 145.82 Bn | 3.84 Bn | 24.89% |
| 4 | Intuitive Surgical | 155.98 Bn | 136.40 Bn | 2.08 Bn | 36.44% |
| 5 | Medtronic | 130.05 Bn | 96.18 Bn | 6.34 Bn | 13.22% |
| 6 | Stryker | 123.40 Bn | 109.59 Bn | 4.25 Bn | 18.77% |
| 7 | Boston Scientific | 64.81 Bn | 60.48 Bn | 3.43 Bn | 16.89% |
| 8 | Edwards Lifesciences | 59.87 Bn | 43.18 Bn | 1.35 Bn | 29.54% |
| 9 | Medline | 53.84 Bn | 50.96 Bn | 1.93 Bn | 11.25% |
| 10 | Baxter International | 13.66 Bn | 5.52 Bn | 994.00 Mn | 15.05% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 15.05% |
| Jun 30, 2026 | 6.11% |
| Mar 31, 2026 | 2.81% |
| Dec 31, 2025 | 15.33% |
| Sep 30, 2025 | 4.44% |
| Jun 30, 2025 | 6.09% |
| Mar 31, 2025 | -12.00% |
| Dec 31, 2024 | 12.93% |
| Sep 30, 2024 | 4.41% |
| Jun 30, 2024 | -2.62% |
| Mar 31, 2024 | 2.13% |
| Dec 31, 2023 | 16.09% |
| Sep 30, 2023 | 13.58% |
| Jun 30, 2023 | -6.31% |
| Mar 31, 2023 | 12.86% |
| Dec 31, 2022 | 13.35% |
| Sep 30, 2022 | 3.57% |
| Jun 30, 2022 | 3.81% |
| Mar 31, 2022 | 1.91% |
| Dec 31, 2021 | 17.73% |
API Access
Baxter International FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=BAX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "BAX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=BAX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();