Operating Income for Baxter International (BAX)
According to Baxter International's latest reported financial statements, the company's current operating income (TTM) is -$308.00M USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
Currently viewingOperating IncomeSwitch metric
TTM (last 4 quarters)
-$308.00M
YoY change
-2300.0%
5Y CAGR
N/A
Peak year (2011)
$2.95B
Cumulative operating income
$44.01B
Operating Income history chart for Baxter International (BAX) from 1985 to 2025
Operating Income history table for Baxter International (BAX) from 1985 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | -$308.00M | -2300.0% | ||
| 2024 | $14.00M | -98.0% | ||
| 2023 | $707.00M | -124.9% | ||
| 2022 | -$2.85B | -310.7% | ||
| 2021 | $1.35B | -16.5% | ||
| 2020 | $1.62B | -8.8% | ||
| 2019 | $1.77B | +11.9% | ||
| 2018 | $1.58B | +23.0% | ||
| 2017 | $1.29B | +72.9% | ||
| 2016 | $745.00M | +65.9% | ||
| 2015 | $449.00M | -31.6% | ||
| 2014 | $656.00M | +32.3% | ||
| 2013 | $496.00M | -82.4% | ||
| 2012 | $2.82B | -4.2% | ||
| 2011 | $2.95B | +37.9% | ||
| 2010 | $2.14B | -25.8% | ||
| 2009 | $2.88B | +12.2% | ||
| 2008 | $2.56B | +18.3% | ||
| 2007 | $2.17B | +17.8% | ||
| 2006 | $1.84B | +12.3% | ||
| 2005 | $1.64B | +83.1% | ||
| 2004 | $895.00M | -28.9% | ||
| 2003 | $1.26B | -17.7% | ||
| 2002 | $1.53B | +25.0% | ||
| 2001 | $1.22B | +18.3% | ||
| 2000 | $1.03B | -10.1% | ||
| 1999 | $1.15B | +13.3% | ||
| 1998 | $1.01B | +14.4% | ||
| 1997 | $887.00M | -2.6% | ||
| 1996 | $911.00M | +11.9% | ||
| 1995 | $814.00M | -20.4% | ||
| 1994 | $1.02B | +328.0% | ||
| 1993 | $239.00M | -77.1% | ||
| 1992 | $1.04B | -4.0% | ||
| 1991 | $1.09B | +200.6% | ||
| 1990 | $362.00M | -56.6% | ||
| 1989 | $834.00M | +11.9% | ||
| 1988 | $745.00M | +7.7% | ||
| 1987 | $692.00M | +43.3% | ||
| 1986 | $483.00M | +82.3% | ||
| 1985 | $265.00M | — |
Operating Income values are taken from Baxter International's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
Baxter International (BAX) most recent annual operating income stands at -$308.00M (2025) – plunged 2300.0% year-over-year.
Baxter International operating income plunged from $2.95B in 2011 to -$308.00M in 2025, a 110.5% drawdown.
The highest annual operating income of $2.95B was reported in 2011. The lowest in the available history was -$2.85B in 2022.
Baxter International (BAX) sits 9th of 8 Healthcare peers we track on this metric, against a peer median of $22.84B.
Baxter International Operating Income by Year
Baxter International Operating Income 2025: -$308.00M
Baxter International operating income in 2025 was -$308.00M, plunged 2300.0% below 2024.
Baxter International Operating Income 2024: $14.00M
Baxter International operating income in 2024 was $14.00M, plunged 98.0% below 2023.
Baxter International Operating Income 2023: $707.00M
Baxter International operating income in 2023 was $707.00M, plunged 124.9% below 2022.
Baxter International Operating Income 2022: -$2.85B
Baxter International operating income in 2022 was -$2.85B, plunged 310.7% below 2021. This figure represents the lowest annual value in the available history.
Baxter International Operating Income 2021: $1.35B
Baxter International operating income in 2021 was $1.35B.
See more financial history for Baxter International (BAX).
Sector peers — Operating Income
Companies in the same sector as Baxter International, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| Novo Nordisk A/S (NVO) | $127.66B | Healthcare |
| Eli Lilly and Company (LLY) | $29.70B | Healthcare |
| Merck & Co., Inc. (MRK) | $26.78B | Healthcare |
| Johnson & Johnson (JNJ) | $25.60B | Healthcare |
| AbbVie Inc. (ABBV) | $20.09B | Healthcare |
| UnitedHealth Group Incorporated (UNH) | $18.96B | Healthcare |
| AstraZeneca PLC (AZN) | $13.74B | Healthcare |
| Amgen Inc. (AMGN) | $10.68B | Healthcare |
Frequently asked questions
What is Baxter International's operating income?
- Latest reported operating income for Baxter International (BAX) is -$308.00M (period ending December 31, 2025).
How has Baxter International operating income changed year-over-year?
- Baxter International (BAX) operating income changed -2300.0% year-over-year on the latest annual filing.
When did Baxter International operating income hit its highest annual value?
- Baxter International operating income reached its highest annual value of $2.95B in 2011.
What was Baxter International operating income in 2024?
- Baxter International (BAX) operating income in 2024 was $14.00M.
What was Baxter International operating income in 2025?
- Baxter International (BAX) operating income in 2025 was -$308.00M.
Metrics overview
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