Baxter International (BAX) FY2022 results: revenue $10.1 billion, down 17.2% on the year
Baxter International Inc. (BAX) reported revenue of $10.1 billion for fiscal 2022, the year ended 31 December 2022, down 17.2% on the year before. Net income was -$2.4 billion, and diluted earnings per share $-4.83. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2023.
Revenue
$10.1 billion
-17.2% on the year
FY2015FY2022
Operating margin
-28.3%
11.1% a year earlier
FY2015FY2022
Net income
-$2.4 billion
FY2015FY2022
Diluted EPS
-$4.83
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,211
2,222
1,868
-45.5%
Capital expenditure
377
691
709
-45.4%
Free cash flow
834
1,531
1,159
-45.5%
Free cash flow margin
8.3%
12.6%
9.9%
Cash from investing
-931
-11,200
-1,179
Cash from financing
-1,438
8,245
-345
Depreciation and amortisation
1,072
867
823
+23.6%
Share-based compensation
140
146
130
-4.1%
Buybacks
32.0
600
500
-94.7%
Dividends paid
573
530
473
+8.1%
Dividend per share
$1.15
$1.08
$0.95
+6.0%
Diluted shares, weighted
504m
508m
517m
-0.8%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
5,833
9,077
8,689
-35.7%
Non-controlling interest
62.0
44.0
37.0
+40.9%
Short-term borrowings
299
301
0.0
-0.7%
Debt
16,702
17,754
6,233
-5.9%
Operating lease liabilities
447
522
501
-14.4%
Finance lease liabilities
62.0
68.0
64.0
-8.8%
Other liabilities
4,882
5,755
4,495
-15.2%
Total liabilities and equity
28,287
33,521
20,019
-15.6%
Fixed assets
4,695
5,178
4,722
-9.3%
Goodwill
6,452
9,836
3,217
-34.4%
Intangible assets
6,793
7,792
1,671
-12.8%
Cash and equivalents
1,621
2,951
3,730
-45.1%
Receivables
2,571
2,629
2,007
-2.2%
Inventory
2,679
2,453
1,916
+9.2%
Other assets
3,476
2,682
2,756
+29.6%
Total assets
28,287
33,521
20,019
-15.6%
10-K for the year ended 31 December 2022, filed 9 February 2023: the filing.