vs
Side-by-side financial comparison of Baxter International (BAX) and CONSTELLIUM SE (CSTM). Click either name above to swap in a different company.
Baxter International is the larger business by last-quarter revenue ($2.7B vs $2.2B, roughly 1.2× CONSTELLIUM SE). CONSTELLIUM SE runs the higher net margin — 5.1% vs -0.6%, a 5.6% gap on every dollar of revenue. CONSTELLIUM SE produced more free cash flow last quarter ($109.0M vs $76.0M).
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
Constellium SE is an American-Swiss, French-based global manufacturer of aluminium rolled products, extruded products, and structural parts based on a large variety of advanced alloys. Constellium's C-TEC research center has been credited for advancing technology in the field of advanced aluminium alloy. Constellium primarily serves the aerospace, automotive, and packaging sectors. Large clients include Mercedes-Benz, Audi, BMW, Fiat Chrysler Automotive, Ford, Airbus, Boeing, and Bombardier.
BAX vs CSTM — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $2.2B |
| Net Profit | $-15.0M | $112.0M |
| Gross Margin | 33.0% | — |
| Operating Margin | 2.4% | 7.5% |
| Net Margin | -0.6% | 5.1% |
| Revenue YoY | 3.0% | — |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.03 | $0.79 |
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.
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.0B | $2.2B | ||
| Q3 25 | $2.8B | $2.2B | ||
| Q2 25 | $2.8B | $2.1B | ||
| Q1 25 | $2.6B | $2.0B | ||
| Q4 24 | $533.0M | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $3.8B | $1.9B |
| Q1 26 | $-15.0M | — | ||
| Q4 25 | $-1.1B | $112.0M | ||
| Q3 25 | $-46.0M | $88.0M | ||
| Q2 25 | $91.0M | $36.0M | ||
| Q1 25 | $126.0M | $37.0M | ||
| Q4 24 | $-512.0M | — | ||
| Q3 24 | $140.0M | — | ||
| Q2 24 | $-314.0M | $76.0M |
| Q1 26 | 33.0% | — | ||
| Q4 25 | 19.4% | — | ||
| Q3 25 | 33.5% | — | ||
| Q2 25 | 35.3% | — | ||
| Q1 25 | 32.8% | — | ||
| Q4 24 | 25.0% | — | ||
| Q3 24 | 38.3% | — | ||
| Q2 24 | 37.5% | — |
| Q1 26 | 2.4% | — | ||
| Q4 25 | -24.5% | 7.5% | ||
| Q3 25 | 6.1% | 5.8% | ||
| Q2 25 | 6.8% | 2.7% | ||
| Q1 25 | 2.2% | 3.1% | ||
| Q4 24 | -25.5% | — | ||
| Q3 24 | 5.7% | — | ||
| Q2 24 | -5.0% | 5.4% |
| Q1 26 | -0.6% | — | ||
| Q4 25 | -37.9% | 5.1% | ||
| Q3 25 | -1.6% | 4.1% | ||
| Q2 25 | 3.2% | 1.7% | ||
| Q1 25 | 4.8% | 1.9% | ||
| Q4 24 | -96.1% | — | ||
| Q3 24 | 5.2% | — | ||
| Q2 24 | -8.2% | 3.9% |
| Q1 26 | $-0.03 | — | ||
| Q4 25 | $-2.21 | $0.79 | ||
| Q3 25 | $-0.09 | $0.62 | ||
| Q2 25 | $0.18 | $0.25 | ||
| Q1 25 | $0.25 | $0.26 | ||
| Q4 24 | $-0.99 | — | ||
| Q3 24 | $0.27 | — | ||
| Q2 24 | $-0.62 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $120.0M |
| Total DebtLower is stronger | — | $1.9B |
| Stockholders' EquityBook value | — | $952.0M |
| Total Assets | — | $5.4B |
| Debt / EquityLower = less leverage | — | 2.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $120.0M | ||
| Q3 25 | $1.7B | $122.0M | ||
| Q2 25 | $1.7B | $133.0M | ||
| Q1 25 | $2.3B | $118.0M | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $2.1B | — |
| Q1 26 | — | — | ||
| Q4 25 | $9.5B | $1.9B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | $10.4B | — | ||
| Q3 24 | $10.4B | — | ||
| Q2 24 | $10.4B | — |
| Q1 26 | — | — | ||
| Q4 25 | $6.1B | $952.0M | ||
| Q3 25 | $7.2B | $845.0M | ||
| Q2 25 | $7.3B | $780.0M | ||
| Q1 25 | $7.1B | $745.0M | ||
| Q4 24 | $7.0B | — | ||
| Q3 24 | $7.9B | — | ||
| Q2 24 | $7.6B | $796.0M |
| Q1 26 | — | — | ||
| Q4 25 | $20.1B | $5.4B | ||
| Q3 25 | $21.1B | $5.4B | ||
| Q2 25 | $21.0B | $5.4B | ||
| Q1 25 | $21.3B | $5.2B | ||
| Q4 24 | $25.8B | — | ||
| Q3 24 | $26.7B | — | ||
| Q2 24 | $26.3B | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.55× | 2.00× | ||
| Q3 25 | — | 2.34× | ||
| Q2 25 | — | 2.53× | ||
| Q1 25 | — | 2.56× | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.37× | — |
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 | — | $218.0M |
| Free Cash FlowOCF − Capex | $76.0M | $109.0M |
| FCF MarginFCF / Revenue | 2.8% | 5.0% |
| Capex IntensityCapex / Revenue | 5.1% | 5.0% |
| Cash ConversionOCF / Net Profit | — | 1.95× |
| TTM Free Cash FlowTrailing 4 quarters | — | $159.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $584.0M | $218.0M | ||
| Q3 25 | $237.0M | $99.0M | ||
| Q2 25 | $217.0M | $114.0M | ||
| Q1 25 | $-193.0M | $58.0M | ||
| Q4 24 | $488.0M | — | ||
| Q3 24 | $253.0M | — | ||
| Q2 24 | $115.0M | $138.0M |
| Q1 26 | $76.0M | — | ||
| Q4 25 | — | $109.0M | ||
| Q3 25 | — | $24.0M | ||
| Q2 25 | — | $37.0M | ||
| Q1 25 | — | $-11.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $54.0M |
| Q1 26 | 2.8% | — | ||
| Q4 25 | — | 5.0% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | -0.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.8% |
| Q1 26 | 5.1% | — | ||
| Q4 25 | — | 5.0% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | 3.7% | ||
| Q1 25 | — | 3.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.95× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | 2.38× | 3.17× | ||
| Q1 25 | -1.53× | 1.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.81× | — | ||
| Q2 24 | — | 1.82× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAX
Segment breakdown not available.
CSTM
| Packaging Rolled Products | $1.0B | 46% |
| Automotive Rolled Products | $318.0M | 14% |
| Aerospace Rolled Products | $270.0M | 12% |
| Transportation Industry Defense And Other Rolled Products | $232.0M | 11% |
| Automotive Extruded Products | $220.0M | 10% |
| Other Extruded Products | $132.0M | 6% |
| Specialty And Other Thin Rolled Products | $22.0M | 1% |
