Baxter International (BAX) Research & Development (2009 - 2026)
Baxter International (BAX) posted quarterly Research & Development of $129.0 million for Q2 2026, down 3.73% year-over-year from $134.0 million in Q2 2025, and down 7.19% quarter-over-quarter from $139.0 million in Q1 2026.
Baxter International (BAX) Research & Development (2009 - 2026) Analysis & Trends
Baxter International (BAX) has reported Research & Development for 18 consecutive years, with $129.0 million the latest figure, recorded in Q2 2026.
- In Q2 2026, Research & Development fell 3.73% year-over-year to $129.0 million; the TTM figure through Jun 2026 stood at $542.0 million (up 14.59% YoY), while the FY2025 annual figure was $518.0 million, down 12.2% from the prior year.
- Research & Development declined to $129.0 million in Q2 2026 per BAX's latest filing, from $139.0 million in the prior quarter.
- Across five years, Research & Development topped out at $176.0 million in Q1 2024 and bottomed at $2.0 million in Q4 2022.
- Historically, Research & Development has averaged $129.8 million across 5 years, with a median of $148.0 million in 2022.
- Annual changes were most pronounced in 2022 — Research & Development plunged 98.52% — and 2023, when it jumped 1050.0%.
- Baxter International's Research & Development stood at $2.0 million in 2022, then surged by 1050.0% to $23.0 million in 2023, then surged by 665.22% to $176.0 million in 2024, then slipped by 23.86% to $134.0 million in 2025, then declined by 3.73% to $129.0 million in 2026.
- Business Quant data shows BAX's Research & Development at $129.0 million in Q2 2026, $139.0 million in Q1 2026, and $134.0 million in Q2 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Intuitive Surgical | 132.71 Bn | 127.50 Bn | 1.96 Bn | 370.60 Mn |
| 2 | Becton Dickinson | 51.57 Bn | 50.71 Bn | 2.32 Bn | 258.00 Mn |
| 3 | Alcon | 35.52 Bn | 34.17 Bn | 1.68 Bn | 663.00 Mn |
| 4 | Resmed | 33.28 Bn | 31.81 Bn | 861.22 Mn | 105.73 Mn |
| 5 | Medline | 27.86 Bn | 25.18 Bn | 2.22 Bn | - |
| 6 | West Pharmaceutical Services | 25.15 Bn | 24.71 Bn | 329.20 Mn | 19.70 Mn |
| 7 | Solventum | 15.31 Bn | 14.91 Bn | 1.29 Bn | 178.00 Mn |
| 8 | Cooper Companies | 14.86 Bn | 14.72 Bn | 735.40 Mn | 42.50 Mn |
| 9 | Baxter International | 13.63 Bn | 11.48 Bn | 1.03 Bn | 129.00 Mn |
| 10 | Align Technology | 11.37 Bn | 10.27 Bn | 757.43 Mn | 102.03 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 129.00 Mn |
| Mar 31, 2026 | 139.00 Mn |
| Mar 31, 2025 | 140.00 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 |
| Sep 30, 2021 | 129.00 Mn |
| Jun 30, 2021 | 139.00 Mn |
| Mar 31, 2021 | 128.00 Mn |
| Dec 31, 2020 | 135.00 Mn |
| Sep 30, 2020 | 123.00 Mn |
| Jun 30, 2020 | 117.00 Mn |
| Mar 31, 2020 | 146.00 Mn |