Baxter International (BAX) FY2021 results: revenue $12.1 billion, up 4.1% on the year
Baxter International Inc. (BAX) reported revenue of $12.1 billion for fiscal 2021, the year ended 31 December 2021, up 4.1% on the year before. Net income was $1.3 billion, up 16.5%, and diluted earnings per share $2.53. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2022.
Revenue
$12.1 billion
+4.1% on the year
FY2014FY2021
Operating margin
11.1%
13.8% a year earlier
FY2014FY2021
Net income
$1.3 billion
+16.5% on the year
FY2014FY2021
Diluted EPS
$2.53
+18.8% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,222
1,868
2,104
+19.0%
Capital expenditure
691
709
696
-2.5%
Free cash flow
1,531
1,159
1,408
+32.1%
Free cash flow margin
12.6%
9.9%
12.4%
Cash from investing
-11,200
-1,179
-1,100
Cash from financing
8,245
-345
498
Depreciation and amortisation
867
823
789
+5.3%
Share-based compensation
146
130
122
+12.3%
Buybacks
600
500
1,270
+20.0%
Dividends paid
530
473
423
+12.1%
Dividend per share
$1.08
$0.95
$0.85
+13.6%
Diluted shares, weighted
508m
517m
519m
-1.7%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
9,077
8,689
7,882
+4.5%
Non-controlling interest
44.0
37.0
30.0
+18.9%
Short-term borrowings
301
0.0
n/a
Debt
17,754
6,233
5,350
+184.8%
Operating lease liabilities
522
501
510
+4.2%
Finance lease liabilities
68.0
64.0
54.0
+6.2%
Other liabilities
5,755
4,495
4,367
+28.0%
Total liabilities and equity
33,521
20,019
18,193
+67.4%
Fixed assets
5,178
4,722
4,512
+9.7%
Goodwill
9,836
3,217
3,030
+205.8%
Intangible assets
7,792
1,671
1,471
+366.3%
Cash and equivalents
2,951
3,730
3,335
-20.9%
Receivables
2,629
2,007
1,896
+31.0%
Inventory
2,453
1,916
1,653
+28.0%
Other assets
2,682
2,756
2,296
-2.7%
Total assets
33,521
20,019
18,193
+67.4%
10-K for the year ended 31 December 2021, filed 23 February 2022: the filing.