Baxter International (BAX) Gross Margin (2009 - 2026)
Baxter International (BAX) posted Gross Margin of 33.40% for Q3 2026, down 0.11 percentage points from 33.51% a year earlier and down 1.46 percentage points from the prior quarter.
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Analysis
Baxter International (BAX) Gross Margin (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Gross Margin at Baxter International was 30.09%, down 4.03 percentage points year-over-year; for FY2025, it came in at 30.05%, down 7.41 percentage points from FY2024.
- Annual Gross Margin shows a five-year change of -9.24 percentage points (FY2020 to FY2025).
- In prior years, Baxter International's Gross Margin was 37.46% in FY2024 (-2.60 pp), 40.06% in FY2023 (+4.77 pp), 35.29% in FY2022 (-3.57 pp) and 38.86% in FY2021 (-0.44 pp).
- Quarterly Gross Margin has run from a low of 19.40% in Q4 2025 to a high of 40.63% in Q3 2023 over five years.
- On a year-over-year basis, Gross Margin increased in 1 of the last eight quarters, with an average year-over-year change of -4.35 percentage points.
- The strongest year-over-year quarter for Gross Margin in the past five years was Q3 2023, with a gain of 11.68 percentage points; the weakest was Q4 2025, with a drop of 15.43 percentage points.
- According to Business Quant data, Gross Margin for the three prior quarters was 34.86% (Q2 2026), 32.99% (Q1 2026) and 19.40% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 266.22 Bn | 242.86 Bn | 5.13 Bn | 42.28% |
| 2 | Abbott Laboratories | 191.31 Bn | 165.77 Bn | 7.39 Bn | 56.75% |
| 3 | Danaher | 166.16 Bn | 145.82 Bn | 3.84 Bn | 58.54% |
| 4 | Intuitive Surgical | 155.98 Bn | 136.40 Bn | 2.08 Bn | 68.37% |
| 5 | Medtronic | 130.05 Bn | 96.18 Bn | 6.34 Bn | 64.99% |
| 6 | Stryker | 123.40 Bn | 109.59 Bn | 4.25 Bn | 65.15% |
| 7 | Boston Scientific | 64.81 Bn | 60.48 Bn | 3.43 Bn | 66.72% |
| 8 | Edwards Lifesciences | 59.87 Bn | 43.18 Bn | 1.35 Bn | 78.48% |
| 9 | Medline | 53.84 Bn | 50.96 Bn | 1.93 Bn | 24.50% |
| 10 | Baxter International | 13.66 Bn | 5.52 Bn | 994.00 Mn | 33.40% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 33.40% |
| Jun 30, 2026 | 34.86% |
| Mar 31, 2026 | 32.99% |
| Dec 31, 2025 | 19.40% |
| Sep 30, 2025 | 33.51% |
| Jun 30, 2025 | 35.27% |
| 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% |
API Access
Baxter International Gross 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=gross-margin&ticker=BAX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=BAX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();