Baxter International annual free cash flow
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2025
Baxter International Free Cash Flow (FCF) History (BAX)
Baxter International reported $332.0M in free cash flow for fiscal 2025, a decrease of 42.06% from the previous fiscal year, with a free cash flow margin of 2.95%.
View full Baxter International company overviewBaxter International free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $332.0M | −$241.0M | −42.06% | +2.95% |
| 2024 | 2024-12-31 | $573.0M | −$721.0M | −55.72% | +5.39% |
| 2023 | 2023-12-31 | $1.29B | $460.0M | +55.16% | +12.49% |
| 2022 | 2022-12-31 | $834.0M | −$697.0M | −45.53% | +8.29% |
| 2021 | 2021-12-31 | $1.53B | $372.0M | +32.10% | +12.60% |
| 2020 | 2020-12-31 | $1.16B | −$249.0M | −17.68% | +9.93% |
| 2019 | 2019-12-31 | $1.41B | $50.0M | +3.68% | +12.39% |
| 2018 | 2018-12-31 | $1.36B | $260.0M | +23.68% | +12.24% |
| 2017 | 2017-12-31 | $1.10B | $163.0M | +17.43% | +10.37% |
| 2016 | 2016-12-31 | $935.0M | $75.0M | +8.72% | +9.20% |
| 2015 | 2015-12-31 | $860.0M | −$1.43B | −62.45% | +8.63% |
| 2014 | 2014-12-31 | $2.29B | −$202.0M | −8.11% | +21.36% |
| 2013 | 2013-12-31 | $2.49B | $547.0M | +28.12% | +26.47% |
| 2012 | 2012-12-31 | $1.95B | $88.0M | +4.74% | +13.96% |
| 2011 | 2011-12-31 | $1.86B | −$183.0M | −8.97% | +13.37% |
| 2010 | 2010-12-31 | $2.04B | $145.0M | +7.65% | +15.88% |
| 2009 | 2009-12-31 | $1.90B | $334.0M | +21.40% | +15.09% |
| 2008 | 2008-12-31 | $1.56B | −$52.0M | −3.22% | +12.64% |
| 2007 | 2007-12-31 | $1.61B | — | — | +14.32% |
Baxter International quarterly free cash flow
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Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $169.0M | $92.0M | +119.48% | +5.71% |
| Q1 2026 | 2026-03-31 | $76.0M | $391.0M | — | +2.81% |
| Q4 2025 | 2025-12-31 | $444.0M | $88.0M | +24.72% | +14.93% |
| Q3 2025 | 2025-09-30 | $126.0M | $7.0M | +5.88% | +4.44% |
| Q2 2025 | 2025-06-30 | $77.0M | $32.0M | +71.11% | +2.74% |
| Q1 2025 | 2025-03-31 | −$315.0M | −$368.0M | — | −12.00% |
| Q4 2024 | 2024-12-31 | $356.0M | −$105.0M | −22.78% | +12.93% |
| Q3 2024 | 2024-09-30 | $119.0M | −$72.0M | −37.70% | +4.41% |
| Q2 2024 | 2024-06-30 | $45.0M | −$150.0M | −76.92% | +1.67% |
| Q1 2024 | 2024-03-31 | $53.0M | −$254.0M | −82.74% | +2.13% |
| Q4 2023 | 2023-12-31 | $461.0M | $83.0M | +21.96% | +85.21% |
| Q3 2023 | 2023-09-30 | $191.0M | $62.0M | +48.06% | +7.35% |
| Q2 2023 | 2023-06-30 | $195.0M | $58.0M | +42.34% | +5.26% |
| Q1 2023 | 2023-03-31 | $307.0M | $239.0M | +351.47% | +8.74% |
| Q4 2022 | 2022-12-31 | $378.0M | −$132.0M | −25.88% | — |
| Q3 2022 | 2022-09-30 | $129.0M | −$367.0M | −73.99% | +3.57% |
| Q2 2022 | 2022-06-30 | $137.0M | −$182.0M | −57.05% | +3.81% |
| Q1 2022 | 2022-03-31 | $68.0M | −$138.0M | −66.99% | +1.83% |
| Q4 2021 | 2021-12-31 | $510.0M | $35.0M | +7.37% | +17.73% |
| Q3 2021 | 2021-09-30 | $496.0M | $142.0M | +40.11% | +15.38% |
| Q2 2021 | 2021-06-30 | $319.0M | $89.0M | +38.70% | +10.30% |
| Q1 2021 | 2021-03-31 | $206.0M | $106.0M | +106.00% | +6.99% |
| Q4 2020 | 2020-12-31 | $475.0M | −$163.0M | −25.55% | +14.93% |
| Q3 2020 | 2020-09-30 | $354.0M | −$180.0M | −33.71% | +11.91% |
| Q2 2020 | 2020-06-30 | $230.0M | −$71.0M | −23.59% | +8.46% |
| Q1 2020 | 2020-03-31 | $100.0M | $165.0M | — | +3.57% |
| Q4 2019 | 2019-12-31 | $638.0M | $135.0M | +26.84% | +20.99% |
| Q3 2019 | 2019-09-30 | $534.0M | $220.0M | +70.06% | +18.73% |
| Q2 2019 | 2019-06-30 | $301.0M | $52.0M | +20.88% | +10.62% |
| Q1 2019 | 2019-03-31 | −$65.0M | −$357.0M | — | −2.46% |
| Q4 2018 | 2018-12-31 | $503.0M | $318.0M | +171.89% | +17.84% |
| Q3 2018 | 2018-09-30 | $314.0M | −$160.0M | −33.76% | +11.37% |
| Q2 2018 | 2018-06-30 | $249.0M | −$124.0M | −33.24% | +8.76% |
| Q1 2018 | 2018-03-31 | $292.0M | $226.0M | +342.42% | +10.91% |
| Q4 2017 | 2017-12-31 | $185.0M | −$328.0M | −63.94% | +6.61% |
| Q3 2017 | 2017-09-30 | $474.0M | $109.0M | +29.86% | +17.51% |
| Q2 2017 | 2017-06-30 | $373.0M | −$201.0M | −35.02% | +14.32% |
| Q1 2017 | 2017-03-31 | $66.0M | $583.0M | — | +2.67% |
| Q4 2016 | 2016-12-31 | $513.0M | $42.0M | +8.92% | +19.40% |
| Q3 2016 | 2016-09-30 | $365.0M | $344.0M | +1638.10% | +14.27% |
| Q2 2016 | 2016-06-30 | $574.0M | $88.0M | +18.11% | +22.21% |
| Q1 2016 | 2016-03-31 | −$517.0M | −$399.0M | — | −21.77% |
| Q4 2015 | 2015-12-31 | $471.0M | −$371.0M | −44.06% | +18.09% |
| Q3 2015 | 2015-09-30 | $21.0M | −$673.0M | −96.97% | +0.84% |
| Q2 2015 | 2015-06-30 | $486.0M | $310.0M | +176.14% | +19.64% |
| Q1 2015 | 2015-03-31 | −$118.0M | −$256.0M | — | −4.91% |
| Q4 2014 | 2014-12-31 | $842.0M | $90.0M | +11.97% | +10525.00% |
| Q3 2014 | 2014-09-30 | $694.0M | $126.0M | +22.18% | +25.62% |
| Q2 2014 | 2014-06-30 | $176.0M | −$240.0M | −57.69% | +4.24% |
| Q1 2014 | 2014-03-31 | $138.0M | $44.0M | +46.81% | +3.59% |
| Q4 2013 | 2013-12-31 | $752.0M | $206.0M | +37.73% | — |
| Q3 2013 | 2013-09-30 | $568.0M | $80.0M | +16.39% | +15.31% |
| Q2 2013 | 2013-06-30 | $416.0M | −$288.0M | −40.91% | +11.34% |
| Q1 2013 | 2013-03-31 | $94.0M | −$113.0M | −54.59% | +2.73% |
| Q4 2012 | 2012-12-31 | $546.0M | −$29.0M | −5.04% | +15.60% |
| Q3 2012 | 2012-09-30 | $488.0M | −$199.0M | −28.97% | +14.04% |
| Q2 2012 | 2012-06-30 | $704.0M | $282.0M | +66.82% | +19.71% |
| Q1 2012 | 2012-03-31 | $207.0M | $34.0M | +19.65% | +6.11% |
| Q4 2011 | 2011-12-31 | $575.0M | −$96.0M | −14.31% | +16.00% |
| Q3 2011 | 2011-09-30 | $687.0M | −$87.0M | −11.24% | +19.75% |
| Q2 2011 | 2011-06-30 | $422.0M | −$124.0M | −22.71% | +11.93% |
| Q1 2011 | 2011-03-31 | $173.0M | $124.0M | +253.06% | +5.27% |
| Q4 2010 | 2010-12-31 | $671.0M | $65.0M | +10.73% | +19.18% |
| Q3 2010 | 2010-09-30 | $774.0M | $146.0M | +23.25% | +24.01% |
| Q2 2010 | 2010-06-30 | $546.0M | −$49.0M | −8.24% | +17.09% |
| Q1 2010 | 2010-03-31 | $49.0M | −$17.0M | −25.76% | +1.67% |
| Q4 2009 | 2009-12-31 | $606.0M | $44.0M | +7.83% | +17.46% |
| Q3 2009 | 2009-09-30 | $628.0M | — | — | +19.97% |
| Q2 2009 | 2009-06-30 | $595.0M | — | — | +19.05% |
| Q1 2009 | 2009-03-31 | $66.0M | — | — | +2.34% |
| Q3 2008 | 2008-09-30 | $562.0M | — | — | +17.84% |
Baxter International free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $1.16B to $332.0M, a compound annual decline of 22.12%. Baxter International's latest reported quarter, Q2 2026, generated $169.0M in free cash flow, an increase of 119.48% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Baxter International filings at SEC.gov ↗