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Baxter International

NYSE: BAX · USD

Baxter International cash flow and EPS47

Operating cash flow, capital investment, free cash flow and earnings per share.

Capital allocation

% of tracked cash uses

$5M
Baxter International capital allocation. Quarterly values. Missing values are unavailable.
PeriodCapexAcquisitionsBuybacksDividendsDebt repaymentsTracked uses
FY 2009 Q231.17% · $216MUnavailable43.29% · $300M22.8% · $158M2.74% · $19M100% · $693M
FY 2009 Q348.05% · $247MUnavailable19.46% · $100M30.54% · $157M1.95% · $10M100% · $514M
FY 2009 Q447.92% · $380MUnavailable31.53% · $250M19.8% · $157M0.76% · $6M100% · $793M
FY 2010 Q127% · $230MUnavailable51.06% · $435M20.42% · $174M1.53% · $13M100% · $852M
FY 2010 Q221.7% · $237MUnavailable62% · $677M15.93% · $174M0.37% · $4M100% · $1,092M
FY 2010 Q339.46% · $232M3.4% · $20M27.38% · $161M29.08% · $171M0.68% · $4M100% · $588M
FY 2010 Q421.93% · $264M3.74% · $45M14.95% · $180M14.04% · $169M45.35% · $546M100% · $1,204M
FY 2011 Q119.19% · $198M1.36% · $14M61.72% · $637M17.44% · $180M0.29% · $3M100% · $1,032M
FY 2011 Q219.85% · $210M17.77% · $188M45.18% · $478M16.82% · $178M0.38% · $4M100% · $1,058M
FY 2011 Q331.84% · $235M3.66% · $27M40.38% · $298M23.85% · $176M0.27% · $2M100% · $738M
FY 2011 Q430.57% · $317M34.81% · $361M16.39% · $170M16.88% · $175M1.35% · $14M100% · $1,037M
FY 2012 Q118.26% · $239M23.22% · $304M43.93% · $575M14.36% · $188M0.23% · $3M100% · $1,309M
FY 2012 Q230.91% · $264M1.99% · $17M45.08% · $385M21.78% · $186M0.23% · $2M100% · $854M
FY 2012 Q335.24% · $259M23.67% · $174M14.29% · $105M25.03% · $184M1.77% · $13M100% · $735M
FY 2012 Q436.81% · $399M1.85% · $20M38.28% · $415M22.69% · $246M0.37% · $4M100% · $1,084M
FY 2013 Q120.28% · $292M4.65% · $67M37.08% · $534M17.08% · $246M20.9% · $301M100% · $1,440M
FY 2013 Q243.54% · $347M2.51% · $20M22.96% · $183M30.61% · $244M0.38% · $3M100% · $797M
FY 2013 Q38.44% · $398M78.11% · $3,685M3.09% · $146M5.66% · $267M4.71% · $222M100% · $4,718M
FY 2013 Q454.4% · $488M8.81% · $79M5.57% · $50M29.65% · $266M1.56% · $14M100% · $897M
FY 2014 Q127.95% · $421M3.92% · $59M16.6% · $250M17.66% · $266M33.86% · $510M100% · $1,506M
FY 2014 Q241.43% · $423M11.46% · $117M19.59% · $200M25.95% · $265M1.57% · $16M100% · $1,021M
FY 2014 Q350.1% · $481M15.31% · $147M5.21% · $50M29.38% · $282M0% · $0M100% · $960M
FY 2014 Q438.35% · $573M5.76% · $86M3.35% · $50M18.88% · $282M33.67% · $503M100% · $1,494M
FY 2015 Q131.46% · $521M14.19% · $235MUnavailable17.03% · $282M37.32% · $618M100% · $1,656M
FY 2015 Q241.19% · $500M8.73% · $106MUnavailable23.23% · $282M26.85% · $326M100% · $1,214M
FY 2015 Q3UnavailableUnavailableUnavailable9.27% · $283M90.73% · $2,769M100% · $3,052M
FY 2015 Q465.54% · $253M1.81% · $7MUnavailable16.32% · $63M16.32% · $63M100% · $386M
FY 2016 Q161.33% · $184M11% · $33MUnavailable21% · $63M6.67% · $20M100% · $300M
FY 2016 Q234.57% · $168M1.85% · $9MUnavailable12.96% · $63M50.62% · $246M100% · $486M
FY 2016 Q312.28% · $167M0.37% · $5MUnavailable5.22% · $71M82.13% · $1,117M100% · $1,360M
FY 2016 Q438.54% · $200M0.19% · $1M47.59% · $247M13.68% · $71MUnavailable100% · $519M
FY 2017 Q149.2% · $123M2.4% · $6M20.4% · $51M28% · $70MUnavailable100% · $250M
FY 2017 Q251.83% · $156M9.97% · $30M14.62% · $44M23.59% · $71MUnavailable100% · $301M
FY 2017 Q312.57% · $131M61.8% · $644M17.27% · $180M8.35% · $87MUnavailable100% · $1,042M
FY 2017 Q436.96% · $224M0.99% · $6M47.69% · $289M14.36% · $87MUnavailable100% · $606M
FY 2018 Q115.77% · $155M22.28% · $219M53.1% · $522M8.85% · $87MUnavailable100% · $983M
FY 2018 Q230.59% · $156M1.76% · $9M50.78% · $259M16.86% · $86MUnavailable100% · $510M
FY 2018 Q329.46% · $157M5.07% · $27M46.34% · $247M18.95% · $101M0.19% · $1M100% · $533M
FY 2018 Q412.16% · $213M0.74% · $13M81.28% · $1,424M5.82% · $102MUnavailable100% · $1,752M
FY 2019 Q119.7% · $198M10.85% · $109M59.4% · $597M10.05% · $101MUnavailable100% · $1,005M
FY 2019 Q240.96% · $154M0.53% · $2M32.71% · $123M25.8% · $97MUnavailable100% · $376M
FY 2020 Q123.69% · $172M61.02% · $443M0% · $0M15.29% · $111MUnavailable100% · $726M
FY 2020 Q254.14% · $144M3.76% · $10M0% · $0M42.11% · $112MUnavailable100% · $266M
FY 2020 Q353.06% · $156M4.42% · $13M0% · $0M42.52% · $125MUnavailable100% · $294M
FY 2020 Q426.63% · $237M3.15% · $28M56.18% · $500M14.04% · $125MUnavailable100% · $890M
FY 2021 Q118.39% · $171M40.97% · $381M27.2% · $253M13.44% · $125M0% · $0M100% · $930M
FY 2021 Q225.08% · $158M5.71% · $36M49.52% · $312M19.68% · $124M0% · $0M100% · $630M
FY 2021 Q322.15% · $179M5.69% · $46M4.33% · $35M17.45% · $141M50.37% · $407M100% · $808M
FY 2021 Q41.83% · $235M78.25% · $10,039M0% · $0M1.09% · $140M18.83% · $2,416M100% · $12,830M
FY 2022 Q116.32% · $140M20.28% · $174M0% · $0M16.32% · $140M47.09% · $404M100% · $858M
FY 2022 Q225.41% · $171M2.38% · $16M0% · $0M20.95% · $141M51.26% · $345M100% · $673M
FY 2022 Q329.68% · $168M2.83% · $16M5.65% · $32M25.8% · $146M36.04% · $204M100% · $566M
FY 2022 Q449.5% · $200M14.11% · $57M0% · $0M36.14% · $146M0.25% · $1M100% · $404M
FY 2023 Q153.09% · $172M0.93% · $3MUnavailable45.06% · $146M0.93% · $3M100% · $324M
FY 2023 Q235.37% · $156M0% · $0MUnavailable33.11% · $146M31.52% · $139M100% · $441M
FY 2023 Q332.52% · $174M0.56% · $3MUnavailable27.48% · $147M39.44% · $211M100% · $535M
FY 2023 Q47.26% · $190M0% · $0M0% · $0M5.61% · $147M87.13% · $2,281M100% · $2,618M
FY 2024 Q1UnavailableUnavailableUnavailable90.74% · $147M9.26% · $15M100% · $162M
FY 2024 Q2UnavailableUnavailableUnavailable15.46% · $148M84.54% · $809M100% · $957M
FY 2024 Q3UnavailableUnavailableUnavailable98.01% · $148M1.99% · $3M100% · $151M
FY 2024 Q4UnavailableUnavailableUnavailable7.44% · $147M92.56% · $1,830M100% · $1,977M
FY 2025 Q1UnavailableUnavailableUnavailable2.99% · $87M97.01% · $2,825M100% · $2,912M
FY 2025 Q2UnavailableUnavailableUnavailable11.34% · $87M88.66% · $680M100% · $767M
FY 2025 Q3UnavailableUnavailableUnavailable100% · $87M0% · $0M100% · $87M
FY 2025 Q4UnavailableUnavailableUnavailable4.2% · $87M95.8% · $1,984M100% · $2,071M
FY 2026 Q1UnavailableUnavailableUnavailable100% · $5M0% · $0M100% · $5M
FY 2026 Q2UnavailableUnavailableUnavailable100% · $5M0% · $0M100% · $5M
Jun 30, 2009 through Jun 30, 2026

Latest period omits capex, acquisitions, buybacks. Percentages cover tracked uses. SBC is noncash and excluded.

Operating cash flow

USD millions

$285M

Capital expenditures

USD millions

—

Unavailable for FY 2026 Q2.

Free cash flow

USD millions

—

Unavailable for FY 2026 Q2.

Stock-based compensation

USD millions

$33M

SBC / free cash flow

% · FCF before SBC deduction

—

Unavailable for FY 2026 Q2.

SBC / operating cash flow

%

11.58%

Software & intangible investment

USD millions

—

Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.

Diluted EPS

USD per share

$0.24

Quarterly data

Baxter International cash-flow history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal periodEndedOperating cash flowUSD millionsCapital expendituresUSD millionsFree cash flowUSD millionsStock-based compensationUSD millionsSBC / free cash flow%SBC / operating cash flow%Software & intangible investmentUSD millionsDiluted EPSUSD per share
FY 2026 Q2Jun 30, 2026285——33—11.58%—$0.24
FY 2026 Q1Mar 31, 2026213——10—4.69%—$-0.03
FY 2025 Q4Dec 31, 2025584——37—6.34%——
FY 2025 Q3Sep 30, 2025237——35—14.77%—$-0.09
FY 2025 Q2Jun 30, 2025217——35—16.13%—$0.18
FY 2025 Q1Mar 31, 2025-193——10———$0.25
FY 2024 Q4Dec 31, 2024488——39—7.99%—$-1
FY 2024 Q3Sep 30, 2024253——22—8.7%—$0.27
FY 2024 Q2Jun 30, 2024115——28—24.35%—$-0.62
FY 2024 Q1Mar 31, 2024163——25—15.34%—$0.07
FY 2023 Q4Dec 31, 2023531190341308.8%5.65%—$0.48
FY 2023 Q3Sep 30, 20233651741914121.47%11.23%—$4.93
FY 2023 Q2Jun 30, 20233511561953718.97%10.54%—$-0.28
FY 2023 Q1Mar 31, 2023479172307258.14%5.22%—$0.09
FY 2022 Q4Dec 31, 20224392002393213.39%7.29%—$0.36
FY 2022 Q3Sep 30, 20222901681224536.89%15.52%—$-5.83
FY 2022 Q2Jun 30, 20222741711034543.69%16.42%—$0.5
FY 2022 Q1Mar 31, 2022208140683247.06%15.38%—$0.14
FY 2021 Q4Dec 31, 20216932354585311.57%7.65%——
FY 2021 Q3Sep 30, 2021675179496346.85%5.04%—$0.89
FY 2021 Q2Jun 30, 20214771583193711.6%7.76%—$0.59
FY 2021 Q1Mar 31, 20213771712062210.68%5.84%—$0.58
FY 2020 Q4Dec 31, 2020712237475336.95%4.63%—$0.33
FY 2020 Q3Sep 30, 2020510156354339.32%6.47%—$0.69
FY 2020 Q2Jun 30, 20203741442303515.22%9.36%—$0.48
FY 2020 Q1Mar 31, 20202721721002929%10.66%—$0.64
FY 2019 Q2Jun 30, 20194691543153511.11%7.46%—$0.66
FY 2019 Q1Mar 31, 2019142198-5622—15.49%—$0.66
FY 2018 Q4Dec 31, 2018755213542285.17%3.71%—$0.65
FY 2018 Q3Sep 30, 2018489157332339.94%6.75%—$1
FY 2018 Q2Jun 30, 20184051562493413.65%8.4%—$0.63
FY 2018 Q1Mar 31, 2018447155292206.85%4.47%—$0.71
FY 2017 Q4Dec 31, 20175142242903010.34%5.84%—$-0.13
FY 2017 Q3Sep 30, 2017605131474316.54%5.12%—$0.45
FY 2017 Q2Jun 30, 2017529156373287.51%5.29%—$0.48
FY 2017 Q1Mar 31, 2017189123661827.27%9.52%—$0.49
FY 2016 Q4Dec 31, 2016713200513316.04%4.35%—$0.44
FY 2016 Q3Sep 30, 2016499167332309.04%6.01%—$0.24
FY 2016 Q2Jun 30, 2016775168607325.27%4.13%—$2.19
FY 2016 Q1Mar 31, 2016-333184-51723———$6.12
FY 2015 Q4Dec 31, 2015724253471306.37%4.14%—$0.37
FY 2015 Q3Sep 30, 2015131363-23230—22.9%—$0
FY 2015 Q2Jun 30, 20156965001964824.49%6.9%—$0.6
FY 2015 Q1Mar 31, 201596521-42539—40.63%—$0.42
FY 2014 Q4Dec 31, 20141,143573570447.72%3.85%—$0.95
FY 2014 Q3Sep 30, 2014914481433439.93%4.7%—$0.47
FY 2014 Q2Jun 30, 20145994231764123.3%6.84%—$0.52
FY 2014 Q1Mar 31, 20145594211383122.46%5.55%—$0.55
FY 2013 Q4Dec 31, 20131,083488595396.55%3.6%—$0.32
FY 2013 Q3Sep 30, 2013966398568396.87%4.04%—$0.54
FY 2013 Q2Jun 30, 2013763347416409.62%5.24%—$0.58
FY 2013 Q1Mar 31, 2013386292943234.04%8.29%—$0.54
FY 2012 Q4Dec 31, 2012945399546336.04%3.49%—$0.48
FY 2012 Q3Sep 30, 2012805259546346.23%4.22%—$0.58
FY 2012 Q2Jun 30, 2012943264679355.15%3.71%—$0.65
FY 2012 Q1Mar 31, 20124132391742816.09%6.78%—$0.56
FY 2011 Q4Dec 31, 2011892317575254.35%2.8%—$0.45
FY 2011 Q3Sep 30, 2011922235687334.8%3.58%—$0.55
FY 2011 Q2Jun 30, 2011632210422337.82%5.22%—$0.58
FY 2011 Q1Mar 31, 20113711981732816.18%7.55%—$0.53
FY 2010 Q4Dec 31, 2010935264671284.17%2.99%—$0.39
FY 2010 Q3Sep 30, 20101,006232774293.75%2.88%—$0.48
FY 2010 Q2Jun 30, 2010783237546336.04%4.21%—$0.49
FY 2010 Q1Mar 31, 2010279230493061.22%10.75%—$-0.06
FY 2009 Q4Dec 31, 2009986380606345.61%3.45%——
FY 2009 Q3Sep 30, 2009875247628325.1%3.66%—$0.47
FY 2009 Q2Jun 30, 2009811216595366.05%4.44%—$0.52
Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

FCF subtracts reported cash capital investment. PPE purchases are preferred; the productive-assets fallback also includes software and intangibles. Acquisitions and noncash lease additions are excluded. EPS and weighted shares are not summed across quarters. Annual figures use annual reports.

SBC / FCF always uses FCF before SBC deduction; both SBC ratios compare amounts from the same period. A zero or negative cash-flow denominator is undefined, and values above 100% are retained.

Each reported nonnegative cash use / sum of available tracked nonnegative cash uses × 100. Missing categories are omitted, never set to zero. This is the composition of tracked uses, not a complete cash-flow reconciliation or a percentage of OCF. SBC is noncash and excluded. Negative amounts are excluded as reversals or net receipts; they are not converted to spending. Annual bars use reported annual amounts. Turning off a category hides its share without changing the denominator. Debt repayments prefer a reported aggregate, with long-term or convertible-only scope identified in the tooltip. Acquisitions are net of cash acquired. Dividend payments use the aggregate where reported, including dividend equivalents when part of that concept.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Market prices: Yahoo Finance · BAX, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Operating cash flow
Reported net cash provided by or used in operating activities.
Capital expenditures
Reported cash capital investment. Uses purchases of property, plant and equipment where disclosed; otherwise purchases of productive assets, which can also include software and intangibles. Excludes acquisitions and noncash lease additions.
Free cash flow
Operating cash flow − reported cash capital investment. PPE purchases are preferred; the productive-assets fallback also includes software and intangibles. Reflects the SBC option and can differ from issuer-defined FCF.
Stock-based compensation
Reported share-based compensation addback in the cash-flow statement. Missing disclosure is not treated as zero.
SBC / free cash flow
Reported share-based compensation / (operating cash flow − cash capital investment) × 100, for the same fiscal period. Always uses FCF before SBC deduction. Zero or negative FCF is undefined; values above 100% are retained.
SBC / operating cash flow
Reported share-based compensation / reported operating cash flow × 100, for the same fiscal period. Zero or negative operating cash flow is undefined. Unaffected by the SBC deduction scenario.
Software & intangible investment
Separately tagged payments for capitalized software under US GAAP, or purchases of intangible assets under IFRS. This optional disclosure is not inferred from total capex or deducted a second time from FCF.
Diluted EPS
Reported diluted earnings per share, normalized for recorded subsequent stock splits. Quarterly EPS is never subtracted from annual or YTD EPS.