Baxter International (BAX) Gross Margin (2009 - 2026)
Baxter International's (BAX) quarterly Gross Margin came in at 32.99% in Q1 2026, up 19.0% year-on-year from 27.72% in Q1 2025, and up 0.57% on a QoQ basis from 32.8% in Q1 2025.
Baxter International (BAX) Gross Margin (2009 - 2026) Analysis & Trends
Baxter International (BAX) has 18 years of Gross Margin data on file, last reported at 32.99% in Q1 2026.
- On a quarterly basis, Gross Margin rose 19.0% year-over-year to 32.99% in Q1 2026; TTM through Mar 2026 was 34.74%, a 132.0% decrease from a year earlier, with the FY2025 full-year figure at 30.05%, down 741.0% from the prior year.
- Gross Margin for Q1 2026 stood at 32.99%, up from 32.8% in the prior quarter.
- Over the last five years, Gross Margin for BAX reached as high as 40.63% in Q3 2023 and fell as low as 28.96% in Q3 2022.
- Historically, Gross Margin has averaged 36.83% across 5 years, with a median of 38.21% in 2024.
- Across the five-year window, Gross Margin sank 1199 bps in 2022 and jumped 1168 bps in 2023, its largest moves.
- Year by year, Gross Margin stood at 37.06% in 2022, then gained by 9 bps to 40.31% in 2023, then slipped by 14 bps to 34.83% in 2024, then declined by 6 bps to 32.8% in 2025, then advanced by 1 bps to 32.99% in 2026.
- Per Business Quant data, the three most recent Gross Margin figures were 32.99% in Q1 2026, 32.8% in Q1 2025, and 34.83% in Q4 2024.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alcon | 32,734,969.19 Bn | 32,734,967.53 Bn | 1.53 Bn | 56.80% |
| 2 | Intuitive Surgical | 117.50 Bn | 112.41 Bn | 1.96 Bn | 67.78% |
| 3 | Becton Dickinson | 42.93 Bn | 42.11 Bn | 2.15 Bn | 45.69% |
| 4 | Medline | 30.82 Bn | 36.66 Bn | 1.84 Bn | 25.04% |
| 5 | Resmed | 27.90 Bn | 26.23 Bn | 890.98 Mn | 62.25% |
| 6 | West Pharmaceutical Services | 26.76 Bn | 26.23 Bn | 329.20 Mn | 37.74% |
| 7 | Cooper Companies | 15.30 Bn | 15.16 Bn | 735.40 Mn | 68.00% |
| 8 | Solventum | 13.46 Bn | 12.90 Bn | 1.10 Bn | 54.66% |
| 9 | Align Technology | 12.02 Bn | 10.96 Bn | 736.59 Mn | 70.82% |
| 10 | Baxter International | 11.17 Bn | 9.12 Bn | 891.00 Mn | 32.99% |
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% |