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% quarter-over-quarter 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.
- Gross Margin for Q1 2026 came in at 32.99%, up 19.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 34.74% (down 132.0% YoY), and the FY2025 annual result was 30.05%, down 741.0% from the prior year.
- Gross Margin rose to 32.99% in Q1 2026 per BAX's latest filing, from 32.8% in the prior quarter.
- Over five years, Gross Margin peaked at 40.63% in Q3 2023 and troughed at 28.96% in Q3 2022.
- A 5-year average of 36.83% and a median of 38.21% in 2024 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2022 and 2023: Gross Margin tumbled 1199 bps in 2022, then soared 1168 bps in 2023.
- A 5-year view of Gross Margin shows it stood at 37.06% in 2022, then grew by 9 bps to 40.31% in 2023, then fell by 14 bps to 34.83% in 2024, then decreased by 6 bps to 32.8% in 2025, then increased by 1 bps to 32.99% in 2026.
- Business Quant data shows BAX's Gross Margin at 32.99% in Q1 2026, 32.8% in Q1 2025, and 34.83% in Q4 2024.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Intuitive Surgical | 148.09 Bn | 143.69 Bn | 1.83 Bn | 66.06% |
| 2 | Becton Dickinson | 41.00 Bn | 39.99 Bn | 2.15 Bn | 45.69% |
| 3 | Medline | 30.38 Bn | 36.22 Bn | 1.84 Bn | 25.04% |
| 4 | Resmed | 28.22 Bn | 26.56 Bn | 890.98 Mn | 62.25% |
| 5 | West Pharmaceutical Services | 23.72 Bn | 23.19 Bn | 296.40 Mn | 35.08% |
| 6 | Solventum | 13.33 Bn | 13.33 Bn | 1.10 Bn | 54.66% |
| 7 | Cooper Companies | 13.12 Bn | 12.99 Bn | 735.40 Mn | 68.00% |
| 8 | Align Technology | 12.86 Bn | 11.80 Bn | 736.59 Mn | 70.82% |
| 9 | Baxter International | 10.51 Bn | 8.47 Bn | 891.00 Mn | 32.99% |
| 10 | Aptargroup | 7.72 Bn | 7.52 Bn | 351.91 Mn | 35.80% |
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% |