Baxter International (BAX) Research & Development (2009 - 2026)
Baxter International (BAX) posted Research & Development of $125 million for Q3 2026, up 5.9% from $118 million a year earlier but down 3.1% from the prior quarter.
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Analysis
Baxter International (BAX) Research & Development (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Research & Development at Baxter International was $519 million, down 8.6% year-over-year; for FY2025, it came in at $518 million, down 12.2% from FY2024.
- Annual Research & Development shows a five-year compound annual growth rate of -0.1% (FY2020 to FY2025).
- In prior years, Baxter International's Research & Development was $590 million in FY2024 (+13.9%), $518 million in FY2023 (+15.1%), $450 million in FY2022 (-15.3%) and $531 million in FY2021 (+1.9%).
- Quarterly Research & Development has run from a low of $2 million in Q4 2022 to a high of $176 million in Q1 2024 over five years.
- On a year-over-year basis, Research & Development increased in 1 of the last four quarters, with an average decline of 4.7%.
- The strongest year-over-year quarter for Research & Development in the past five years was Q1 2022, with growth of 17.2%; the weakest was Q4 2022, with a decline of 98.5%.
- According to Business Quant data, Research & Development for the three prior quarters was $129 million (Q2 2026), $139 million (Q1 2026) and $126 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 266.22 Bn | 242.86 Bn | 5.13 Bn | 348.00 Mn |
| 2 | Abbott Laboratories | 191.31 Bn | 165.77 Bn | 7.39 Bn | 920.00 Mn |
| 3 | Danaher | 166.16 Bn | 145.82 Bn | 3.84 Bn | 433.00 Mn |
| 4 | Intuitive Surgical | 155.98 Bn | 136.40 Bn | 2.08 Bn | 408.30 Mn |
| 5 | Medtronic | 130.05 Bn | 96.18 Bn | 6.34 Bn | 771.00 Mn |
| 6 | Stryker | 123.40 Bn | 109.59 Bn | 4.25 Bn | 433.00 Mn |
| 7 | Boston Scientific | 64.81 Bn | 60.48 Bn | 3.43 Bn | 520.00 Mn |
| 8 | Edwards Lifesciences | 59.87 Bn | 43.18 Bn | 1.35 Bn | 281.40 Mn |
| 9 | Medline | 53.84 Bn | 50.96 Bn | 1.93 Bn | - |
| 10 | Baxter International | 13.66 Bn | 5.52 Bn | 994.00 Mn | 125.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 125.00 Mn |
| Jun 30, 2026 | 129.00 Mn |
| Mar 31, 2026 | 139.00 Mn |
| Dec 31, 2025 | 126.00 Mn |
| Sep 30, 2025 | 118.00 Mn |
| Jun 30, 2025 | 134.00 Mn |
| Mar 31, 2025 | 140.00 Mn |
| Dec 31, 2024 | 211.00 Mn |
| Sep 30, 2024 | 129.00 Mn |
| Jun 30, 2024 | 130.00 Mn |
| Mar 31, 2024 | 176.00 Mn |
| Dec 31, 2023 | 23.00 Mn |
| Sep 30, 2023 | 166.00 Mn |
| Jun 30, 2023 | 165.00 Mn |
| Mar 31, 2023 | 164.00 Mn |
| Dec 31, 2022 | 2.00 Mn |
| Sep 30, 2022 | 151.00 Mn |
| Jun 30, 2022 | 148.00 Mn |
| Mar 31, 2022 | 150.00 Mn |
| Dec 31, 2021 | 135.00 Mn |
API Access
Baxter International Research & Development 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=research-and-development&ticker=BAX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=BAX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();