BAXTER INTERNATIONAL INC (BAX) closed fiscal year 2025 with a gross margin of 30.1 % and a net margin of -8.5 %.
BAXTER INTERNATIONAL INC (BAX) closed fiscal year 2025 with a gross margin of 30.1 % and a net margin of -8.5 %. The same year shows an EBITDA margin of 6.0 % and an EBIT margin of -2.7 %. The free cash flow margin was 3.0 %. Against the previous year the gross margin moved −7.4 pp and the net margin −2.4 pp. Across the period the gross margin ranges between 30.1 % in 2025 and 51.9 % in 2009. The series covers 19 fiscal years, from 2007 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 49.00 % | 49.64 % | 51.94 % | 46.39 % | 50.72 % | 51.19 % | 44.22 % | 42.74 % | 41.59 % | 40.50 % | 42.27 % | 42.88 % | 41.90 % | 39.30 % | 38.86 % | 35.29 % | 40.06 % | 37.46 % | 30.05 % |
| EBITDA margin (%) | — | — | — | — | — | — | 12.02 % | 13.51 % | 12.12 % | 15.20 % | 19.26 % | 21.22 % | 22.54 % | 20.89 % | 18.25 % | -17.63 % | 16.32 % | 9.51 % | 5.99 % |
| EBIT margin (%) | — | — | — | — | — | — | 5.27 % | 6.12 % | 4.50 % | 7.33 % | 12.17 % | 14.27 % | 15.60 % | 13.84 % | 11.11 % | -28.29 % | 6.82 % | 0.13 % | -2.74 % |
| Net margin (%) | 15.16 % | 16.31 % | 17.55 % | 11.06 % | 16.01 % | 16.69 % | 21.37 % | 23.30 % | 9.71 % | 48.85 % | 5.69 % | 13.93 % | 8.81 % | 9.44 % | 10.57 % | -24.19 % | 25.64 % | -6.10 % | -8.51 % |
| FCF margin (%) | 14.32 % | 12.64 % | 15.09 % | 15.88 % | 13.37 % | 13.96 % | 26.47 % | 21.36 % | 8.63 % | 9.20 % | 10.37 % | 12.24 % | 12.39 % | 9.93 % | 12.60 % | 8.29 % | 12.49 % | 7.27 % | 2.95 % |
