Baxter International (BAX) revenue breakdown
By segment, Medical Products & Therapies is the largest at 49% of fiscal 2025 revenue; Healthcare Systems & Technologies grew fastest, 95% a year over 4 years.
By product, Renal Care is the largest at 25% of fiscal 2022 revenue; Front line care grew fastest, 1540% a year over 1 years.
Revenue by segment
Fiscal years, as Baxter International reports them in its 10-K filings; fiscal 2025 total $10.9B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Medical Products & Therapies | — | — | — | — | — | $4.8B | $4.8B | $5.0B | $5.2B | $5.3B | 49% |
| Healthcare Systems & Technologies | — | — | — | — | — | $212M | $2.9B | $3.0B | $3.0B | $3.1B | 28% |
| Pharmaceuticals | — | — | — | — | — | $2.3B | $2.1B | $2.2B | $2.4B | $2.5B | 23% |
| Americas | $5.4B | $5.7B | $6.0B | $6.3B | $6.3B | — | — | — | — | — | — |
| Kidney Care | — | — | — | — | — | $4.7B | — | — | — | — | — |
| EMEA | $2.7B | $2.8B | $2.9B | $2.8B | $2.9B | — | — | — | — | — | — |
| APAC | $2.0B | $2.1B | $2.2B | $2.3B | $2.5B | — | — | — | — | — | — |
Revenue by product
Fiscal years, as Baxter International reports them in its 10-K filings; fiscal 2022 total $15.1B.
| Products | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | Share |
|---|---|---|---|---|---|---|---|---|
| Renal Care | $3.4B | $3.5B | $3.7B | $3.6B | $3.8B | $3.9B | $3.7B | 25% |
| Medication Delivery | $2.6B | $2.7B | $2.7B | $2.7B | $2.7B | $2.9B | $2.9B | 19% |
| Pharmaceuticals | $1.7B | $1.9B | $2.1B | $2.1B | $2.1B | $2.3B | $2.1B | 14% |
| Patient support systems | — | — | — | — | — | $115M | $1.5B | 10% |
| Front line care | — | — | — | — | — | $70M | $1.1B | 8% |
| Advanced Surgery | $690M | $708M | $798M | $875M | $886M | $977M | $998M | 7% |
| Clinical Nutrition | $858M | $885M | $875M | $860M | $910M | $964M | $931M | 6% |
| Acute Therapies | $429M | $457M | $515M | $535M | $740M | $782M | $701M | 5% |
| BioPharma Solutions | — | — | — | $469M | $486M | $669M | $644M | 4% |
| Surgical solutions | — | — | — | — | — | $27M | $304M | 2% |
| Other | $447M | $457M | $509M | $126M | $105M | $109M | $140M | 1% |
Revenue by region
Fiscal years, as Baxter International reports them in its 10-K filings; fiscal 2025 total $11.2B.
| Regions | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $4.3B | $4.5B | $4.7B | $4.8B | $4.9B | $4.9B | $5.8B | $5.8B | $5.8B | $6.1B | 54% |
| Rest of world | — | — | — | — | — | $4.2B | $3.0B | $3.2B | $3.4B | $3.7B | 33% |
| Emerging markets | — | — | — | — | — | $3.0B | $1.3B | $1.3B | $1.4B | $1.4B | 12% |
| International | — | $6.1B | $6.4B | — | — | — | — | — | — | — | — |
| EMEA | — | — | — | $3.0B | $3.1B | — | — | — | — | — | — |
| EMEA | $2.7B | — | — | — | — | — | — | — | — | — | — |
| APAC | — | — | — | $2.3B | $2.5B | — | — | — | — | — | — |
| APAC | $2.0B | — | — | — | — | — | — | — | — | — | — |
| Latin America and Canada | — | — | — | $1.3B | $1.2B | — | — | — | — | — | — |
| Latin America and Canada | $1.2B | — | — | — | — | — | — | — | — | — | — |
Questions
Where does Baxter International make its money?
In fiscal 2025, by segment: Medical Products & Therapies $5.3B, Healthcare Systems & Technologies $3.1B, Pharmaceuticals $2.5B.
From Baxter International's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.