Baxter International (BAX) FY2024 results: revenue $10.6 billion, up 2.7% on the year
Baxter International Inc. (BAX) reported revenue of $10.6 billion for fiscal 2024, the year ended 31 December 2024, up 2.7% on the year before. Net income was -$649 million, and diluted earnings per share $-1.27. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.
Revenue
$10.6 billion
+2.7% on the year
FY2017FY2024
Operating margin
0.1%
6.8% a year earlier
FY2017FY2024
Net income
-$649 million
FY2017FY2024
Diluted EPS
-$1.27
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,019
1,726
1,211
-41.0%
Capital expenditure
446
432
377
+3.2%
Free cash flow
573
1,294
834
-55.7%
Free cash flow margin
5.4%
12.5%
8.3%
Cash from investing
-626
3,213
-931
Cash from financing
-1,081
-3,489
-1,438
Depreciation and amortisation
997
984
1,072
+1.3%
Share-based compensation
114
115
140
-0.9%
Buybacks
0.0
0.0
32.0
Dividends paid
590
586
573
+0.7%
Dividend per share
$1.04
$1.16
$1.15
-10.3%
Diluted shares, weighted
510m
506m
504m
+0.8%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
6,964
8,402
5,833
-17.1%
Non-controlling interest
60.0
66.0
62.0
-9.1%
Short-term borrowings
2,126
0.0
299
Debt
13,180
13,855
16,702
-4.9%
Operating lease liabilities
243
265
447
-8.3%
Finance lease liabilities
19.0
25.0
62.0
-24.0%
Other liabilities
3,190
5,663
4,882
-43.7%
Total liabilities and equity
25,782
28,276
28,287
-8.8%
Fixed assets
2,870
2,871
4,695
-0.0%
Goodwill
5,275
5,793
6,452
-8.9%
Intangible assets
5,223
5,918
6,793
-11.7%
Cash and equivalents
1,764
3,078
1,621
-42.7%
Receivables
1,679
1,719
2,571
-2.3%
Inventory
2,046
1,918
2,679
+6.7%
Other assets
6,925
6,979
3,476
-0.8%
Total assets
25,782
28,276
28,287
-8.8%
10-K for the year ended 31 December 2024, filed 21 February 2025: the filing.