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Side-by-side financial comparison of Alpha Cognition Inc. (ACOG) and Baxter International (BAX). Click either name above to swap in a different company.
Baxter International is the larger business by last-quarter revenue ($3.0B vs $2.8M, roughly 1064.8× Alpha Cognition Inc.). Baxter International runs the higher net margin — -37.9% vs -245.5%, a 207.5% gap on every dollar of revenue.
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
ACOG vs BAX — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $2.8M | $3.0B |
| Net Profit | $-6.9M | $-1.1B |
| Gross Margin | — | 19.4% |
| Operating Margin | -283.7% | -24.5% |
| Net Margin | -245.5% | -37.9% |
| Revenue YoY | — | 458.0% |
| Net Profit YoY | — | -120.3% |
| EPS (diluted) | $-0.10 | $-2.21 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.8M | $3.0B | ||
| Q3 25 | $2.8M | $2.8B | ||
| Q2 25 | $1.7M | $2.8B | ||
| Q1 25 | $2.9M | $2.6B | ||
| Q4 24 | — | $533.0M | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $3.8B | ||
| Q1 24 | — | $3.6B |
| Q4 25 | $-6.9M | $-1.1B | ||
| Q3 25 | $-1.3M | $-46.0M | ||
| Q2 25 | $-10.5M | $91.0M | ||
| Q1 25 | $-2.0M | $126.0M | ||
| Q4 24 | — | $-512.0M | ||
| Q3 24 | — | $140.0M | ||
| Q2 24 | — | $-314.0M | ||
| Q1 24 | — | $37.0M |
| Q4 25 | — | 19.4% | ||
| Q3 25 | — | 33.5% | ||
| Q2 25 | 96.7% | 35.3% | ||
| Q1 25 | 99.6% | 32.8% | ||
| Q4 24 | — | 25.0% | ||
| Q3 24 | — | 38.3% | ||
| Q2 24 | — | 37.5% | ||
| Q1 24 | — | 38.6% |
| Q4 25 | -283.7% | -24.5% | ||
| Q3 25 | -187.0% | 6.1% | ||
| Q2 25 | -346.1% | 6.8% | ||
| Q1 25 | -125.9% | 2.2% | ||
| Q4 24 | — | -25.5% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | -5.0% | ||
| Q1 24 | — | 5.2% |
| Q4 25 | -245.5% | -37.9% | ||
| Q3 25 | -46.4% | -1.6% | ||
| Q2 25 | -632.7% | 3.2% | ||
| Q1 25 | -68.5% | 4.8% | ||
| Q4 24 | — | -96.1% | ||
| Q3 24 | — | 5.2% | ||
| Q2 24 | — | -8.2% | ||
| Q1 24 | — | 1.0% |
| Q4 25 | $-0.10 | $-2.21 | ||
| Q3 25 | $-0.30 | $-0.09 | ||
| Q2 25 | $-0.65 | $0.18 | ||
| Q1 25 | $-0.13 | $0.25 | ||
| Q4 24 | — | $-0.99 | ||
| Q3 24 | — | $0.27 | ||
| Q2 24 | — | $-0.62 | ||
| Q1 24 | — | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $66.0M | $2.0B |
| Total DebtLower is stronger | — | $9.5B |
| Stockholders' EquityBook value | $62.5M | $6.1B |
| Total Assets | $79.7M | $20.1B |
| Debt / EquityLower = less leverage | — | 1.55× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.0M | $2.0B | ||
| Q3 25 | $35.4M | $1.7B | ||
| Q2 25 | $39.4M | $1.7B | ||
| Q1 25 | $45.5M | $2.3B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $3.0B |
| Q4 25 | — | $9.5B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $10.4B | ||
| Q3 24 | — | $10.4B | ||
| Q2 24 | — | $10.4B | ||
| Q1 24 | — | $11.1B |
| Q4 25 | $62.5M | $6.1B | ||
| Q3 25 | $33.9M | $7.2B | ||
| Q2 25 | $31.9M | $7.3B | ||
| Q1 25 | $40.8M | $7.1B | ||
| Q4 24 | — | $7.0B | ||
| Q3 24 | — | $7.9B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $8.2B |
| Q4 25 | $79.7M | $20.1B | ||
| Q3 25 | $46.3M | $21.1B | ||
| Q2 25 | $45.1M | $21.0B | ||
| Q1 25 | $48.6M | $21.3B | ||
| Q4 24 | — | $25.8B | ||
| Q3 24 | — | $26.7B | ||
| Q2 24 | — | $26.3B | ||
| Q1 24 | — | $27.8B |
| Q4 25 | — | 1.55× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | — | 1.37× | ||
| Q1 24 | — | 1.36× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-6.9M | $584.0M |
| Free Cash FlowOCF − Capex | $-7.1M | — |
| FCF MarginFCF / Revenue | -252.6% | — |
| Capex IntensityCapex / Revenue | 5.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-20.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.9M | $584.0M | ||
| Q3 25 | $-5.3M | $237.0M | ||
| Q2 25 | $-6.1M | $217.0M | ||
| Q1 25 | $-2.0M | $-193.0M | ||
| Q4 24 | — | $488.0M | ||
| Q3 24 | — | $253.0M | ||
| Q2 24 | — | $115.0M | ||
| Q1 24 | — | $163.0M |
| Q4 25 | $-7.1M | — | ||
| Q3 25 | $-5.4M | — | ||
| Q2 25 | $-6.1M | — | ||
| Q1 25 | $-2.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -252.6% | — | ||
| Q3 25 | -188.8% | — | ||
| Q2 25 | -370.9% | — | ||
| Q1 25 | -72.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 5.3% | — | ||
| Q3 25 | 2.6% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.38× | ||
| Q1 25 | — | -1.53× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.81× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 4.41× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACOG
Segment breakdown not available.
BAX
| Other | $1.5B | 51% |
| Infusion Therapies And Technologies | $543.0M | 18% |
| Pharmaceutical Compounding | $316.0M | 11% |
| Front Line Care | $219.0M | 7% |
| Injectables And Anesthesia | $190.0M | 6% |
| Advanced Surgery | $177.0M | 6% |
