Baxter International (BAX) Free Cash Flow (2009 - 2026)
Baxter International (BAX) reported Free Cash Flow of $448 million for Q3 2026, up 255.6% from $126 million a year earlier and up 147.5% from the prior quarter.
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Analysis
Baxter International (BAX) Free Cash Flow (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Baxter International's Free Cash Flow came in at $1.16 billion, up 243.5% year-over-year; for FY2025, it was $438 million, down 23.6% from FY2024.
- Free Cash Flow has a five-year compound annual growth rate of -17.7% (FY2020 to FY2025).
- By year, Free Cash Flow came in at $573 million in FY2024 (-55.7%), $1.29 billion in FY2023 (+55.2%), $834 million in FY2022 (-45.5%) and $1.53 billion in FY2021 (+31.9%).
- Five-year quarterly Free Cash Flow spans a low of -$315 million in Q1 2025 and a high of $510 million in Q4 2021.
- Year over year, Free Cash Flow gained in five of the last six quarters, with growth averaging 92.7%.
- The high point for year-over-year Free Cash Flow in five years was Q1 2023 (growth of 361.8%); the low point was Q1 2024 (a decline of 83.1%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $181 million (Q2 2026), $76 million (Q1 2026) and $456 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 266.22 Bn | 242.86 Bn | 5.13 Bn | 2.11 Bn |
| 2 | Abbott Laboratories | 191.31 Bn | 165.77 Bn | 7.39 Bn | 1.22 Bn |
| 3 | Danaher | 166.16 Bn | 145.82 Bn | 3.84 Bn | 1.63 Bn |
| 4 | Intuitive Surgical | 155.98 Bn | 136.40 Bn | 2.08 Bn | 1.11 Bn |
| 5 | Medtronic | 130.05 Bn | 96.18 Bn | 6.34 Bn | 1.29 Bn |
| 6 | Stryker | 123.40 Bn | 109.59 Bn | 4.25 Bn | 1.22 Bn |
| 7 | Boston Scientific | 64.81 Bn | 60.48 Bn | 3.43 Bn | 868.00 Mn |
| 8 | Edwards Lifesciences | 59.87 Bn | 43.18 Bn | 1.35 Bn | 506.70 Mn |
| 9 | Medline | 53.84 Bn | 50.96 Bn | 1.93 Bn | 884.00 Mn |
| 10 | Baxter International | 13.66 Bn | 5.52 Bn | 994.00 Mn | 448.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 448.00 Mn |
| Jun 30, 2026 | 181.00 Mn |
| Mar 31, 2026 | 76.00 Mn |
| Dec 31, 2025 | 456.00 Mn |
| Sep 30, 2025 | 126.00 Mn |
| Jun 30, 2025 | 171.00 Mn |
| Mar 31, 2025 | -315.00 Mn |
| Dec 31, 2024 | 356.00 Mn |
| Sep 30, 2024 | 119.00 Mn |
| Jun 30, 2024 | -70.62 Mn |
| Mar 31, 2024 | 53.00 Mn |
| Dec 31, 2023 | 439.00 Mn |
| Sep 30, 2023 | 353.00 Mn |
| Jun 30, 2023 | -163.39 Mn |
| Mar 31, 2023 | 314.00 Mn |
| Dec 31, 2022 | 500.00 Mn |
| Sep 30, 2022 | 129.00 Mn |
| Jun 30, 2022 | 137.00 Mn |
| Mar 31, 2022 | 68.00 Mn |
| Dec 31, 2021 | 510.00 Mn |
API Access
Baxter International Free Cash Flow 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=free-cash-flow&ticker=BAX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=BAX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();