Baxter International (BAX) Operating Margin (2009 - 2026)
Baxter International's (BAX) quarterly Operating Margin came in at 2.44% in Q1 2026, up 23.0% year-on-year from 1.99% in Q1 2025, and up 10.59% on a QoQ basis 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.
- On a quarterly basis, Operating Margin rose 23.0% year-over-year to 2.44% in Q1 2026; TTM through Mar 2026 was 19.63%, a 897.0% decrease from a year earlier, with the FY2025 full-year figure at 2.74%, down 287.0% from the prior year.
- Operating Margin for Q1 2026 stood at 2.44%, up from 2.21% in the prior quarter.
- Over the last five years, Operating Margin for BAX reached as high as 38.27% in Q3 2024 and fell as low as 79.8% in Q3 2022.
- Historically, Operating Margin has averaged 5.26% across 5 years, with a median of 4.93% in 2022.
- Across the five-year window, Operating Margin plunged 9570 bps in 2022 and surged 7784 bps in 2023, its largest moves.
- Year by year, Operating Margin 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 sank by 94 bps to 2.21% in 2025, then increased by 11 bps to 2.44% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 2.44% in Q1 2026, 2.21% in Q1 2025, and 34.83% in Q4 2024.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alcon | 32,734,969.19 Bn | 32,734,967.53 Bn | 1.53 Bn | 98.77% |
| 2 | Intuitive Surgical | 117.50 Bn | 112.41 Bn | 1.96 Bn | 33.60% |
| 3 | Becton Dickinson | 42.93 Bn | 42.11 Bn | 2.15 Bn | 1.97% |
| 4 | Medline | 30.82 Bn | 36.66 Bn | 1.84 Bn | 5.74% |
| 5 | Resmed | 27.90 Bn | 26.23 Bn | 890.98 Mn | 34.92% |
| 6 | West Pharmaceutical Services | 26.76 Bn | 26.23 Bn | 329.20 Mn | 20.53% |
| 7 | Cooper Companies | 15.30 Bn | 15.16 Bn | 735.40 Mn | -2.87% |
| 8 | Solventum | 13.46 Bn | 12.90 Bn | 1.10 Bn | 4.04% |
| 9 | Align Technology | 12.02 Bn | 10.96 Bn | 736.59 Mn | 13.65% |
| 10 | Baxter International | 11.17 Bn | 9.12 Bn | 891.00 Mn | 2.44% |
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% |