Baxter International (BAX) Operating Margin (2009 - 2026)
Baxter International's (BAX) quarterly Operating Margin came in at 7.33% in Q2 2026, up 53.0% year-over-year from 4.79% in Q2 2025, and up 200.02% quarter-over-quarter from 2.44% in Q1 2026.
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Baxter International (BAX) Operating Margin (2009 - 2026) Analysis & Trends
Baxter International (BAX) has reported Operating Margin for 18 consecutive years, with 7.33% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Margin rose 53.0% year-over-year to 7.33% in Q2 2026; TTM through Jun 2026 was 4.79%, a 514.0% decrease from a year earlier, with the FY2025 full-year figure at 2.74%, down 287.0% from the prior year.
- Operating Margin was 7.33% for Q2 2026 at Baxter International, up from 2.44% in the prior quarter.
- Over five years, Operating Margin peaked at 23.67% in Q4 2023 and troughed at 79.8% in Q3 2022.
- A 5-year average of 1.81% and a median of 4.58% in 2022 frame the typical range for Operating Margin.
- Across the five-year window, Operating Margin tumbled 9570 bps in 2022 and soared 7784 bps in 2023, its largest moves.
- Over 5 years, Operating Margin stood at 8.33% in 2022, then jumped by 384 bps to 23.67% in 2023, then slumped by 68 bps to 7.51% in 2024, then declined by 9 bps to 6.8% in 2025, then advanced by 8 bps to 7.33% in 2026.
- The last three Operating Margin figures came in at 7.33% (Q2 2026), 2.44% (Q1 2026), and 6.8% (Q2 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Becton Dickinson | 48.81 Bn | 47.95 Bn | 2.32 Bn | 13.31% |
| 2 | Medline | 28.14 Bn | 25.47 Bn | 2.22 Bn | 5.14% |
| 3 | West Pharmaceutical Services | 23.56 Bn | 23.13 Bn | 329.20 Mn | 20.53% |
| 4 | Baxter International | 12.46 Bn | 10.31 Bn | 1.03 Bn | 7.33% |
| 5 | Stevanato Group S.p.A | 5.48 Bn | 5.38 Bn | 100.91 Mn | 12.93% |
| 6 | Acme United | 236.23 Mn | 231.19 Mn | 26.69 Mn | 10.89% |
| 7 | Rockwell Medical | 31.07 Mn | 6.28 Mn | 3.24 Mn | -5.97% |
| 8 | Retractable Technologies | 21.32 Mn | -18.55 Mn | 190,852.00 | -71.46% |
| 9 | United Health Products | 8.20 Mn | 8.18 Mn | - | - |
| 10 | Cuprina Holdings (Cayman) | 7.93 Mn | 4.82 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 7.33% |
| Mar 31, 2026 | 2.44% |
| Jun 30, 2025 | 6.80% |
| Mar 31, 2025 | 2.21% |
| Mar 31, 2024 | 7.51% |
| Dec 31, 2023 | 23.67% |
| Sep 30, 2023 | -1.96% |
| Jun 30, 2023 | -0.66% |
| Mar 31, 2023 | 5.28% |
| Dec 31, 2022 | -8.33% |
| Sep 30, 2022 | -79.80% |
| Jun 30, 2022 | 7.35% |
| Mar 31, 2022 | 4.58% |
| Dec 31, 2021 | 0.80% |
| Sep 30, 2021 | 15.90% |
| Jun 30, 2021 | 13.69% |
| Mar 31, 2021 | 13.24% |
| Dec 31, 2020 | 12.76% |
| Sep 30, 2020 | 15.81% |
| Jun 30, 2020 | 12.18% |