Baxter International (BAX) Operating Margin (2009 - 2026)
Baxter International (BAX) reported Operating Margin of 2.44% for Q1 2026, up 23.0% year-over-year from 1.99% in Q1 2025, and up 10.59% quarter-over-quarter from 2.21% in Q1 2025.
Baxter International (BAX) Operating Margin (2009 - 2026) Analysis & Trends
Baxter International (BAX) has 18 years of Operating Margin data on file, last reported at 2.44% in Q1 2026.
- Operating Margin for Q1 2026 came in at 2.44%, up 23.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 19.63% (down 897.0% YoY), and the FY2025 annual result was 2.74%, down 287.0% from the prior year.
- Operating Margin advanced to 2.44% in Q1 2026 per BAX's latest filing, from 2.21% in the prior quarter.
- Over five years, Operating Margin peaked at 38.27% in Q3 2024 and troughed at 79.8% in Q3 2022.
- A 5-year average of 5.26% and a median of 4.93% in 2022 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2022 and 2023: Operating Margin slumped 9570 bps in 2022, then jumped 7784 bps in 2023.
- A 5-year view of Operating Margin shows it stood at 8.33% in 2022, then surged by 384 bps to 23.67% in 2023, then soared by 47 bps to 34.83% in 2024, then plunged by 94 bps to 2.21% in 2025, then advanced by 11 bps to 2.44% in 2026.
- Business Quant data shows BAX's Operating Margin at 2.44% in Q1 2026, 2.21% in Q1 2025, and 34.83% in Q4 2024.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Intuitive Surgical | 148.09 Bn | 143.69 Bn | 1.83 Bn | 30.87% |
| 2 | Becton Dickinson | 41.00 Bn | 39.99 Bn | 2.15 Bn | 1.97% |
| 3 | Medline | 30.38 Bn | 36.22 Bn | 1.84 Bn | 5.74% |
| 4 | Resmed | 28.22 Bn | 26.56 Bn | 890.98 Mn | 34.92% |
| 5 | West Pharmaceutical Services | 23.72 Bn | 23.19 Bn | 296.40 Mn | 20.96% |
| 6 | Solventum | 13.33 Bn | 13.33 Bn | 1.10 Bn | 4.04% |
| 7 | Cooper Companies | 13.12 Bn | 12.99 Bn | 735.40 Mn | -2.87% |
| 8 | Align Technology | 12.86 Bn | 11.80 Bn | 736.59 Mn | 13.65% |
| 9 | Baxter International | 10.51 Bn | 8.47 Bn | 891.00 Mn | 2.44% |
| 10 | Aptargroup | 7.72 Bn | 7.52 Bn | 351.91 Mn | 10.94% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 2.44% |
| Mar 31, 2025 | 2.21% |
| Dec 31, 2024 | 34.83% |
| Sep 30, 2024 | 38.27% |
| Jun 30, 2024 | 38.27% |
| 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% |