Baxter International (BAX) Operating Margin (2009 - 2026)
Baxter International (BAX) posted Operating Margin of 7.56% for Q3 2026, up 1.49 percentage points from 6.07% a year earlier and up 0.23 percentage points from the prior quarter.
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Analysis
Baxter International (BAX) Operating Margin (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Operating Margin at Baxter International was -1.90%, down 7.42 percentage points year-over-year; for FY2025, it came in at -2.74%, down 2.87 percentage points from FY2024.
- Annual Operating Margin shows a five-year change of -16.58 percentage points (FY2020 to FY2025).
- In prior years, Baxter International's Operating Margin was 0.13% in FY2024 (-6.69 pp), 6.82% in FY2023 (+35.11 pp), -28.29% in FY2022 (-39.40 pp) and 11.11% in FY2021 (-2.73 pp).
- The Q3 2026 figure stands as the highest quarterly Operating Margin since Q4 2023.
- On a year-over-year basis, Operating Margin has increased in each of the last three quarters, with an average year-over-year change of -0.76 percentage points over the last four quarters.
- The strongest year-over-year quarter for Operating Margin in the past five years was Q3 2023, with a gain of 77.84 percentage points; the weakest was Q3 2022, with a drop of 95.70 percentage points.
- According to Business Quant data, Operating Margin for the three prior quarters was 7.33% (Q2 2026), 2.44% (Q1 2026) and -24.51% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 266.22 Bn | 242.86 Bn | 5.13 Bn | 18.65% |
| 2 | Abbott Laboratories | 191.31 Bn | 165.77 Bn | 7.39 Bn | 10.44% |
| 3 | Danaher | 166.16 Bn | 145.82 Bn | 3.84 Bn | 19.00% |
| 4 | Intuitive Surgical | 155.98 Bn | 136.40 Bn | 2.08 Bn | 19.44% |
| 5 | Medtronic | 130.05 Bn | 96.18 Bn | 6.34 Bn | 18.08% |
| 6 | Stryker | 123.40 Bn | 109.59 Bn | 4.25 Bn | 15.86% |
| 7 | Boston Scientific | 64.81 Bn | 60.48 Bn | 3.43 Bn | 16.12% |
| 8 | Edwards Lifesciences | 59.87 Bn | 43.18 Bn | 1.35 Bn | 17.44% |
| 9 | Medline | 53.84 Bn | 50.96 Bn | 1.93 Bn | 6.36% |
| 10 | Baxter International | 13.66 Bn | 5.52 Bn | 994.00 Mn | 7.56% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 7.56% |
| Jun 30, 2026 | 7.33% |
| Mar 31, 2026 | 2.44% |
| Dec 31, 2025 | -24.51% |
| Sep 30, 2025 | 6.07% |
| Jun 30, 2025 | 6.80% |
| Mar 31, 2025 | 2.21% |
| Dec 31, 2024 | -15.80% |
| Sep 30, 2024 | 5.74% |
| Jun 30, 2024 | 6.64% |
| 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% |
API Access
Baxter International Operating 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=operating-margin&ticker=BAX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=BAX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();