Baxter International Inc. (BAX) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 6.85B | 6.87B | 6.93B | 6.75B | 7.04B | 8.85B | 8.86B | 8.59B | 9.4B | 9.6B | 12.03B | 8.21B | 8.1B | 8.01B | 7.81B | 7.88B | 8.17B | 8.87B | 8.17B | 8B |
| Cash & Short-Term Investments | 2.02B | 1.97B | 1.73B | 1.69B | 2.29B | 1.76B | 1.42B | 2.1B | 3.03B | 3.08B | 5.79B | 1.72B | 1.67B | 1.72B | 1.6B | 1.85B | 2.29B | 2.95B | 3.26B | 3.14B |
| Cash Only | 2.02B | 1.97B | 1.73B | 1.69B | 2.29B | 1.76B | 1.42B | 2.1B | 3.03B | 3.08B | 5.79B | 1.72B | 1.67B | 1.72B | 1.6B | 1.85B | 2.29B | 2.95B | 3.26B | 3.14B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.7B | 1.93B | 1.78B | 1.77B | 1.65B | 1.73B | 1.73B | 2.64B | 2.52B | 1.77B | 2.51B | 2.5B | 2.55B | 2.62B | 2.56B | 2.47B | 2.47B | 2.71B | 2.07B | 2.02B |
| Days Sales Outstanding | 60.48 | 57.37 | 57.6 | 55.36 | 57.87 | 57.8 | 74.45 | 87.15 | 78.45 | 50.72 | 88.62 | 61.89 | 66.23 | 61.28 | 64.09 | 62.59 | 62.93 | 62.66 | 58.39 | 57.81 |
| Inventory | 2.32B | 2.23B | 2.46B | 2.38B | 2.17B | 2.05B | 2.1B | 2.98B | 2.99B | 1.92B | 2.87B | 2.9B | 2.92B | 2.68B | 2.67B | 2.66B | 2.55B | 2.45B | 2.02B | 2.06B |
| Days Inventory Outstanding | 113.07 | 90.04 | 118.21 | 113.91 | 107.55 | 106.38 | 140.49 | 163.42 | 145.99 | 91.33 | 172.02 | 101.99 | 112.62 | 101.6 | 95.77 | 106.66 | 95.4 | 97.72 | 98.76 | 99.59 |
| Other Current Assets | 816M | 481M | 970M | 906M | 925M | 2.95B | 3.61B | 874M | 865M | 2.51B | 861M | 1.09B | 957M | 618M | 0 | 0 | 0 | 390M | 0 | 0 |
| Total Non-Current Assets | 13B | 13.18B | 14.13B | 14.3B | 14.27B | 16.93B | 17.81B | 17.72B | 18.39B | 18.68B | 18.62B | 19.68B | 20.19B | 20.28B | 20.16B | 23.95B | 24.54B | 24.65B | 11.64B | 11.68B |
| Property, Plant & Equipment | 3.19B | 3.19B | 3.08B | 3.09B | 3.02B | 3.18B | 3.16B | 4.84B | 4.9B | 3.21B | 4.8B | 5.03B | 5.55B | 5.24B | 5.34B | 5.54B | 5.72B | 5.81B | 5.16B | 5.22B |
| Fixed Asset Turnover | 0.85x | 0.95x | 0.92x | 0.92x | 0.85x | 0.87x | 0.67x | 0.55x | 0.61x | 0.97x | 0.53x | 0.70x | 0.65x | 0.73x | 0.66x | 0.64x | 0.64x | 0.64x | 0.62x | 0.60x |
| Goodwill | 4.9B | 4.93B | 5.4B | 5.39B | 5.34B | 5.28B | 5.78B | 6B | 6.43B | 5.79B | 6.41B | 6.42B | 6.87B | 6.45B | 6.64B | 9.64B | 9.82B | 9.84B | 3.1B | 3.15B |
| Intangible Assets | 4.22B | 4.37B | 4.8B | 4.95B | 5.08B | 5.22B | 5.45B | 5.74B | 5.91B | 5.92B | 6.23B | 6.47B | 6.64B | 6.79B | 6.93B | 7.46B | 7.69B | 7.79B | 1.88B | 1.91B |
| Long-Term Investments | 0 | 103M | 126M | 114M | 117M | 109M | 126M | 168M | 174M | 136M | 186M | 0 | 0 | 247M | 0 | 0 | 0 | 195M | 0 | 0 |
| Other Non-Current Assets | 692M | 396M | 721M | 747M | 715M | 2.94B | 3.29B | 971M | 978M | 3.36B | 1B | 1.76B | 1.13B | 1.27B | 1.24B | 1.3B | 1.31B | 642M | 1.5B | 1.4B |
| Total Assets | 19.85B | 20.05B | 21.07B | 21.05B | 21.3B | 25.78B | 26.68B | 26.31B | 27.79B | 28.28B | 30.66B | 27.89B | 28.29B | 28.29B | 27.96B | 31.83B | 32.72B | 33.52B | 19.81B | 19.68B |
| Asset Turnover | 0.14x | 0.14x | 0.13x | 0.13x | 0.11x | 0.10x | 0.10x | 0.10x | 0.09x | 0.13x | 0.09x | 0.13x | 0.12x | 0.14x | 0.12x | 0.11x | 0.11x | 0.13x | 0.16x | 0.16x |
| Asset Growth % | -6.84% | -22.21% | -21.03% | -20.01% | -23.33% | -8.82% | -12.98% | -5.64% | -1.78% | -0.04% | 9.62% | -12.4% | -13.53% | -15.61% | 41.19% | 61.73% | 68.07% | 67.45% | -1.45% | 1.11% |
| Total Current Liabilities | 3.69B | 2.97B | 3.77B | 2.94B | 3.48B | 6.51B | 6.2B | 6.13B | 6.37B | 6.5B | 6.21B | 5.76B | 4.76B | 4.75B | 3.71B | 3.92B | 3.89B | 4.24B | 3.44B | 3.34B |
| Accounts Payable | 1.09B | 999M | 953M | 995M | 963M | 968M | 841M | 1.25B | 1.33B | 881M | 1.25B | 1.24B | 1.29B | 1.11B | 1.23B | 1.28B | 1.22B | 1.25B | 999M | 1B |
| Days Payables Outstanding | 51.84 | 37.46 | 47.54 | 48.98 | 49.26 | 46.38 | 57.76 | 70.59 | 65.77 | 40.55 | 74.11 | 44.34 | 48.26 | 44.48 | 45.14 | 51.27 | 47.1 | 48.99 | 48.39 | 49.48 |
| Short-Term Debt | 842M | 1M | 755M | 8M | 662M | 2.75B | 2.5B | 2.47B | 2.63B | 2.67B | 2.43B | 2.18B | 1.15B | 1.4B | 279M | 408M | 409M | 511M | 510M | 457M |
| Deferred Revenue (Current) | 0 | 141M | 0 | 0 | 0 | 131M | 0 | 0 | 0 | 128M | 0 | 0 | 0 | 154M | 0 | 0 | 0 | 162M | 0 | 0 |
| Other Current Liabilities | 1.76B | 666M | 0 | 0 | 0 | 1.53B | 1.09B | 0 | 0 | 1.64B | 0 | 70M | 0 | 618M | 0 | 0 | 0 | 751M | 0 | 0 |
| Current Ratio | 1.85x | 2.31x | 1.84x | 2.30x | 2.02x | 1.36x | 1.43x | 1.40x | 1.48x | 1.48x | 1.94x | 1.42x | 1.70x | 1.69x | 2.11x | 2.01x | 2.10x | 2.09x | 2.37x | 2.39x |
| Quick Ratio | 1.23x | 1.56x | 1.18x | 1.49x | 1.40x | 1.05x | 1.09x | 0.91x | 1.01x | 1.18x | 1.48x | 0.92x | 1.09x | 1.12x | 1.38x | 1.33x | 1.45x | 1.52x | 1.78x | 1.78x |
| Cash Conversion Cycle | 121.71 | 109.95 | 128.27 | 120.3 | 116.17 | 117.8 | 157.17 | 179.98 | 158.67 | 101.51 | 186.52 | 119.53 | 130.59 | 118.4 | 114.72 | 117.98 | 111.23 | 111.39 | 108.76 | 107.92 |
| Total Non-Current Liabilities | 10.14B | 10.98B | 10.08B | 10.81B | 10.77B | 12.25B | 12.53B | 12.47B | 13.19B | 13.3B | 16.28B | 16.49B | 17.59B | 17.65B | 18.68B | 19.01B | 19.71B | 20.16B | 7.55B | 7.8B |
| Long-Term Debt | 8.85B | 9.47B | 8.75B | 9.49B | 9.41B | 10.37B | 10.44B | 10.44B | 11.09B | 11.09B | 14.07B | 14.31B | 15.28B | 15.23B | 16.15B | 16.28B | 16.77B | 17.15B | 5.45B | 5.71B |
| Capital Lease Obligations | 0 | 244M | 210M | 225M | 235M | 243M | 259M | 439M | 444M | 265M | 436M | 438M | 458M | 447M | 454M | 470M | 508M | 522M | 484M | 469M |
| Deferred Tax Liabilities | 0 | 245M | 0 | 0 | 0 | 103M | 0 | 0 | 0 | 403M | 0 | 0 | 0 | 661M | 0 | 0 | 0 | 962M | 0 | 0 |
| Other Non-Current Liabilities | 1.29B | 1.01B | 1.12B | 1.1B | 1.12B | 1.49B | 1.84B | 1.6B | 1.65B | 1.51B | 1.78B | 1.75B | 1.85B | 1.27B | 2.07B | 2.26B | 2.43B | 1.45B | 1.62B | 1.62B |
| Total Liabilities | 13.83B | 13.95B | 13.85B | 13.75B | 14.25B | 18.76B | 18.73B | 18.6B | 19.55B | 19.81B | 22.49B | 22.25B | 22.35B | 22.39B | 22.39B | 22.93B | 23.6B | 24.4B | 10.99B | 11.15B |
| Total Debt | 9.69B | 9.78B | 9.71B | 9.72B | 10.31B | 13.45B | 13.19B | 13.34B | 14.17B | 14.11B | 16.93B | 16.92B | 16.89B | 17.2B | 16.89B | 17.16B | 17.68B | 18.31B | 6.44B | 6.64B |
| Net Debt | 7.67B | 7.81B | 7.99B | 8.04B | 8.02B | 11.69B | 11.77B | 11.25B | 11.14B | 11.04B | 11.14B | 15.2B | 15.22B | 15.48B | 15.29B | 15.3B | 15.39B | 15.36B | 3.18B | 3.5B |
| Debt / Equity | 1.61x | 1.60x | 1.35x | 1.33x | 1.46x | 1.91x | 1.66x | 1.73x | 1.72x | 1.67x | 2.07x | 3.00x | 2.84x | 2.92x | 3.03x | 1.93x | 1.94x | 2.01x | 0.73x | 0.78x |
| Debt / EBITDA | 31.97x | - | 23.75x | 21.71x | 33.80x | - | 32.26x | 32.86x | 36.71x | 21.61x | 62.47x | 56.78x | 38.21x | 25.04x | - | 28.26x | 32.56x | 29.16x | 8.96x | 10.27x |
| Net Debt / EBITDA | 25.31x | - | 19.53x | 17.94x | 26.28x | - | 28.79x | 27.70x | 28.87x | 16.90x | 41.11x | 51.00x | 34.43x | 22.54x | - | 25.21x | 28.34x | 24.46x | 4.43x | 5.42x |
| Interest Coverage | 1.00x | -9.96x | 2.78x | 2.85x | 0.96x | -4.21x | 1.68x | 2.13x | 1.45x | 3.03x | 1.47x | -0.39x | 1.11x | 2.79x | -26.94x | 3.35x | 2.07x | 4.63x | 9.35x | 11.59x |
| Total Equity | 6.02B | 6.1B | 7.21B | 7.29B | 7.05B | 7.02B | 7.94B | 7.71B | 8.23B | 8.47B | 8.17B | 5.63B | 5.94B | 5.89B | 5.58B | 8.9B | 9.12B | 9.12B | 8.81B | 8.54B |
| Equity Growth % | -14.72% | -13.13% | -9.17% | -5.38% | -14.34% | -17.05% | -2.74% | 36.89% | 38.61% | 43.65% | 46.37% | -36.75% | -34.85% | -35.37% | -36.71% | 4.31% | 7.41% | 4.53% | 2.48% | 4.6% |
| Book Value per Share | 11.68 | 11.87 | 14.04 | 14.19 | 13.72 | 13.77 | 15.51 | 15.11 | 16.15 | 16.70 | 16.11 | 11.13 | 11.72 | 11.63 | 11.07 | 17.53 | 17.92 | 17.99 | 17.42 | 16.77 |
| Total Shareholders' Equity | 6.04B | 6.13B | 7.24B | 7.32B | 7.08B | 6.96B | 7.87B | 7.64B | 8.17B | 8.4B | 8.1B | 5.57B | 5.88B | 5.83B | 5.54B | 8.86B | 9.07B | 9.08B | 8.77B | 8.49B |
| Common Stock | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M | 683M |
| Retained Earnings | 13.69B | 13.71B | 14.84B | 14.97B | 14.97B | 14.93B | 15.53B | 15.54B | 16B | 16.11B | 16.02B | 13.65B | 13.95B | 14.05B | 14.02B | 17.1B | 16.99B | 17.07B | 16.97B | 16.66B |
| Treasury Stock | 0 | -10.87B | -10.89B | -10.91B | -10.94B | -11.06B | -11.08B | -11.1B | -11.13B | -11.23B | -11.25B | -11.3B | -11.32B | -11.39B | -11.41B | -11.41B | -11.42B | -11.49B | -11.53B | -11.56B |
| Accumulated OCI | -3.8B | -3.75B | -3.73B | -3.75B | -3.94B | -4.01B | -3.65B | -3.83B | -3.72B | -3.55B | -3.72B | -3.81B | -3.74B | -3.83B | -4.05B | -3.77B | -3.39B | -3.38B | -3.48B | -3.38B |
| Minority Interest | -27M | -27M | -27M | -27M | -27M | 60M | 70M | 65M | 62M | 66M | 65M | 62M | 62M | 62M | 44M | 44M | 44M | 44M | 45M | 41M |