Baxter International (BAX) Gross Margin (2009 - 2026)
Baxter International (BAX) reported Gross Margin of 32.99% for Q1 2026, up 19.0% year-over-year from 27.72% in Q1 2025, and up 0.57% on a QoQ basis from 32.8% in Q1 2025.
Baxter International (BAX) has 18 years of Gross Margin data on file, last reported at 32.99% in Q1 2026.
- Quarterly Gross Margin rose 19.0% year-over-year to 32.99% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 34.74% (down 132.0% YoY) and the FY2025 annual result came in at 30.05%, down 741.0% from the prior year.
- Gross Margin grew to 32.99% in Q1 2026 per BAX's latest filing, from 32.8% in the prior quarter.
- Across five years, Gross Margin topped out at 40.63% in Q3 2023 and bottomed at 28.96% in Q3 2022.
- The 5-year median for Gross Margin is 38.21% (2024), against an average of 36.83%.
- The widest annual swing landed in 2022, when Gross Margin sank 1199 bps; it then jumped 1168 bps in 2023.
- Tracing BAX's Gross Margin over 5 years: stood at 37.06% in 2022, then advanced by 9 bps to 40.31% in 2023, then dropped by 14 bps to 34.83% in 2024, then fell by 6 bps to 32.8% in 2025, then climbed by 1 bps to 32.99% in 2026.
- Per Business Quant, the three latest BAX Gross Margin figures stand at 32.99% (Q1 2026), 32.8% (Q1 2025), and 34.83% (Q4 2024).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Intuitive Surgical | 156.17 Bn | 151.78 Bn | 1.83 Bn | 66.06% |
| 2 | Becton Dickinson | 41.51 Bn | 40.49 Bn | 2.15 Bn | 45.69% |
| 3 | Resmed | 30.43 Bn | 28.77 Bn | 890.98 Mn | 62.25% |
| 4 | West Pharmaceutical Services | 22.78 Bn | 22.26 Bn | 296.40 Mn | 35.08% |
| 5 | Solventum | 13.39 Bn | 13.39 Bn | 1.10 Bn | 54.66% |
| 6 | Cooper Companies | 12.33 Bn | 12.20 Bn | 695.20 Mn | 67.88% |
| 7 | Align Technology | 11.65 Bn | 10.59 Bn | 736.59 Mn | 70.82% |
| 8 | Baxter International | 9.81 Bn | 7.77 Bn | 891.00 Mn | 32.99% |
| 9 | Aptargroup | 7.39 Bn | 7.19 Bn | 351.91 Mn | 35.80% |
| 10 | Repligen | 6.39 Bn | 5.41 Bn | 108.28 Mn | 55.74% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 32.99% |
| Mar 31, 2025 | 32.80% |
| Dec 31, 2024 | 34.83% |
| Sep 30, 2024 | 38.27% |
| Jun 30, 2024 | 38.27% |
| Mar 31, 2024 | 38.59% |
| Dec 31, 2023 | 40.31% |
| Sep 30, 2023 | 40.63% |
| Jun 30, 2023 | 39.75% |
| Mar 31, 2023 | 39.49% |
| Dec 31, 2022 | 37.06% |
| Sep 30, 2022 | 28.96% |
| Jun 30, 2022 | 38.15% |
| Mar 31, 2022 | 35.47% |
| Dec 31, 2021 | 35.50% |
| Sep 30, 2021 | 40.95% |
| Jun 30, 2021 | 39.80% |
| Mar 31, 2021 | 38.87% |
| Dec 31, 2020 | 37.44% |
| Sep 30, 2020 | 40.21% |
| Jun 30, 2020 | 38.19% |
| Mar 31, 2020 | 41.51% |
| Dec 31, 2019 | 42.71% |
| Sep 30, 2019 | 43.14% |
| Jun 30, 2019 | 40.68% |
| Mar 31, 2019 | 40.94% |
| Dec 31, 2018 | 41.76% |
| Sep 30, 2018 | 44.62% |
| Jun 30, 2018 | 43.48% |
| Mar 31, 2018 | 41.64% |
| Dec 31, 2017 | 41.96% |
| Sep 30, 2017 | 41.74% |
| Jun 30, 2017 | 43.45% |
| Mar 31, 2017 | 42.18% |
| Dec 31, 2016 | 41.66% |
| Sep 30, 2016 | 41.87% |
| Jun 30, 2016 | 37.60% |
| Mar 31, 2016 | 40.63% |
| Dec 31, 2015 | 41.18% |
| Sep 30, 2015 | 41.58% |
| Jun 30, 2015 | 41.25% |
| Mar 31, 2015 | 42.41% |
| Dec 31, 2014 | 43.28% |
| Sep 30, 2014 | 44.04% |
| Jun 30, 2014 | 40.44% |
| Mar 31, 2014 | 43.21% |
| Dec 31, 2013 | 46.18% |
| Sep 30, 2013 | 51.37% |
| Jun 30, 2013 | 52.48% |
| Mar 31, 2013 | 50.42% |
| Dec 31, 2012 | 50.76% |
| Sep 30, 2012 | 52.06% |
| Jun 30, 2012 | 52.41% |
| Mar 31, 2012 | 50.59% |
| Dec 31, 2011 | 49.11% |
| Sep 30, 2011 | 50.91% |
| Jun 30, 2011 | 51.89% |
| Mar 31, 2011 | 51.00% |
| Dec 31, 2010 | 46.26% |
| Sep 30, 2010 | 51.46% |
| Jun 30, 2010 | 51.28% |
| Mar 31, 2010 | 35.63% |
| Dec 31, 2009 | 50.92% |
| Sep 30, 2009 | 51.89% |
| Jun 30, 2009 | 52.45% |
| Mar 31, 2009 | 52.69% |