vs
Side-by-side financial comparison of Baxter International (BAX) and Hyatt Hotels Corp (H). Click either name above to swap in a different company.
Baxter International is the larger business by last-quarter revenue ($2.7B vs $1.8B, roughly 1.5× Hyatt Hotels Corp). Baxter International runs the higher net margin — -0.6% vs -1.1%, a 0.6% gap on every dollar of revenue. On growth, Hyatt Hotels Corp posted the faster year-over-year revenue change (11.7% vs 3.0%). Hyatt Hotels Corp produced more free cash flow last quarter ($236.0M vs $76.0M). Over the past eight quarters, Hyatt Hotels Corp's revenue compounded faster (2.2% CAGR vs -15.8%).
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
Hyatt Hotels Corporation, commonly known as Hyatt Hotels & Resorts, is an American multinational hospitality company headquartered in the Riverside Plaza area of Chicago that manages and franchises luxury and business hotels, resorts, and vacation properties. Hyatt Hotels & Resorts is one of the businesses managed by the Pritzker family. Hyatt has more than 1350 hotels and all-inclusive properties in 69 countries, across North America, South America, Europe, Asia, Africa and Australia.
BAX vs H — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $1.8B |
| Net Profit | $-15.0M | $-20.0M |
| Gross Margin | 33.0% | — |
| Operating Margin | 2.4% | 0.4% |
| Net Margin | -0.6% | -1.1% |
| Revenue YoY | 3.0% | 11.7% |
| Net Profit YoY | — | 64.3% |
| EPS (diluted) | $-0.03 | $-0.20 |
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 | $1.8B | ||
| Q3 25 | $2.8B | $1.8B | ||
| Q2 25 | $2.8B | $1.8B | ||
| Q1 25 | $2.6B | $1.7B | ||
| Q4 24 | $533.0M | $1.6B | ||
| Q3 24 | $2.7B | $1.6B | ||
| Q2 24 | $3.8B | $1.7B |
| Q1 26 | $-15.0M | — | ||
| Q4 25 | $-1.1B | $-20.0M | ||
| Q3 25 | $-46.0M | $-49.0M | ||
| Q2 25 | $91.0M | $-3.0M | ||
| Q1 25 | $126.0M | $20.0M | ||
| Q4 24 | $-512.0M | $-56.0M | ||
| Q3 24 | $140.0M | $471.0M | ||
| Q2 24 | $-314.0M | $359.0M |
| 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% | 0.4% | ||
| Q3 25 | 6.1% | -1.0% | ||
| Q2 25 | 6.8% | 2.1% | ||
| Q1 25 | 2.2% | 3.0% | ||
| Q4 24 | -25.5% | -3.0% | ||
| Q3 24 | 5.7% | 37.3% | ||
| Q2 24 | -5.0% | 27.1% |
| Q1 26 | -0.6% | — | ||
| Q4 25 | -37.9% | -1.1% | ||
| Q3 25 | -1.6% | -2.7% | ||
| Q2 25 | 3.2% | -0.2% | ||
| Q1 25 | 4.8% | 1.2% | ||
| Q4 24 | -96.1% | -3.5% | ||
| Q3 24 | 5.2% | 28.9% | ||
| Q2 24 | -8.2% | 21.1% |
| Q1 26 | $-0.03 | — | ||
| Q4 25 | $-2.21 | $-0.20 | ||
| Q3 25 | $-0.09 | $-0.51 | ||
| Q2 25 | $0.18 | $-0.03 | ||
| Q1 25 | $0.25 | $0.19 | ||
| Q4 24 | $-0.99 | $-0.37 | ||
| Q3 24 | $0.27 | $4.63 | ||
| Q2 24 | $-0.62 | $3.46 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $813.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $3.3B |
| Total Assets | — | $14.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $813.0M | ||
| Q3 25 | $1.7B | $749.0M | ||
| Q2 25 | $1.7B | $912.0M | ||
| Q1 25 | $2.3B | $1.8B | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $2.1B | $2.0B |
| Q1 26 | — | — | ||
| Q4 25 | $9.5B | — | ||
| Q3 25 | — | $6.0B | ||
| Q2 25 | — | $6.0B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | $10.4B | $3.8B | ||
| Q3 24 | $10.4B | $3.1B | ||
| Q2 24 | $10.4B | $3.9B |
| Q1 26 | — | — | ||
| Q4 25 | $6.1B | $3.3B | ||
| Q3 25 | $7.2B | $3.5B | ||
| Q2 25 | $7.3B | $3.6B | ||
| Q1 25 | $7.1B | $3.5B | ||
| Q4 24 | $7.0B | $3.5B | ||
| Q3 24 | $7.9B | $3.7B | ||
| Q2 24 | $7.6B | $3.9B |
| Q1 26 | — | — | ||
| Q4 25 | $20.1B | $14.0B | ||
| Q3 25 | $21.1B | $15.7B | ||
| Q2 25 | $21.0B | $15.9B | ||
| Q1 25 | $21.3B | $14.0B | ||
| Q4 24 | $25.8B | $13.3B | ||
| Q3 24 | $26.7B | $11.9B | ||
| Q2 24 | $26.3B | $12.8B |
| Q1 26 | — | — | ||
| Q4 25 | 1.55× | — | ||
| Q3 25 | — | 1.73× | ||
| Q2 25 | — | 1.69× | ||
| Q1 25 | — | 1.25× | ||
| Q4 24 | 1.49× | 1.07× | ||
| Q3 24 | 1.33× | 0.85× | ||
| Q2 24 | 1.37× | 1.01× |
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 | — | $313.0M |
| Free Cash FlowOCF − Capex | $76.0M | $236.0M |
| FCF MarginFCF / Revenue | 2.8% | 13.2% |
| Capex IntensityCapex / Revenue | 5.1% | 4.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $159.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $584.0M | $313.0M | ||
| Q3 25 | $237.0M | $-20.0M | ||
| Q2 25 | $217.0M | $-67.0M | ||
| Q1 25 | $-193.0M | $153.0M | ||
| Q4 24 | $488.0M | $235.0M | ||
| Q3 24 | $253.0M | $-21.0M | ||
| Q2 24 | $115.0M | $177.0M |
| Q1 26 | $76.0M | — | ||
| Q4 25 | — | $236.0M | ||
| Q3 25 | — | $-89.0M | ||
| Q2 25 | — | $-111.0M | ||
| Q1 25 | — | $123.0M | ||
| Q4 24 | — | $184.0M | ||
| Q3 24 | — | $-64.0M | ||
| Q2 24 | — | $135.0M |
| Q1 26 | 2.8% | — | ||
| Q4 25 | — | 13.2% | ||
| Q3 25 | — | -5.0% | ||
| Q2 25 | — | -6.1% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | — | 11.5% | ||
| Q3 24 | — | -3.9% | ||
| Q2 24 | — | 7.9% |
| Q1 26 | 5.1% | — | ||
| Q4 25 | — | 4.3% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 2.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.38× | — | ||
| Q1 25 | -1.53× | 7.65× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.81× | -0.04× | ||
| Q2 24 | — | 0.49× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAX
Segment breakdown not available.
H
| Other | $627.0M | 35% |
| Rooms Revenue | $326.0M | 18% |
| Net Fees | $290.0M | 16% |
| Distribution Segment | $177.0M | 10% |
| Franchise And Other Fees | $114.0M | 6% |
| Base Management Fees | $112.0M | 6% |
| Incentive Management Fees | $81.0M | 5% |
| Other Owned And Leased Hotel Revenue | $41.0M | 2% |
| Contra Revenue | $17.0M | 1% |
| Other Revenues | $4.0M | 0% |
