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Side-by-side financial comparison of Baxter International (BAX) and JETBLUE AIRWAYS CORP (JBLU). Click either name above to swap in a different company.
Baxter International is the larger business by last-quarter revenue ($3.0B vs $2.2B, roughly 1.3× JETBLUE AIRWAYS CORP). JETBLUE AIRWAYS CORP runs the higher net margin — -14.2% vs -37.9%, a 23.7% gap on every dollar of revenue. On growth, Baxter International posted the faster year-over-year revenue change (458.0% vs 4.7%). Over the past eight quarters, JETBLUE AIRWAYS CORP's revenue compounded faster (-3.9% CAGR vs -9.0%).
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
JetBlue Airways Corporation, stylized as jetBlue, is an American low-cost airline headquartered in Long Island City, in Queens, New York City. Primarily a point-to-point carrier, JetBlue's network features six focus cities including its main hub at New York City's John F. Kennedy International Airport, with destinations across the Americas and Europe. Although not a member of any global airline alliances, JetBlue has codeshare agreements with airlines from Oneworld, SkyTeam, and Star Alliance.
BAX vs JBLU — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.0B | $2.2B |
| Net Profit | $-1.1B | $-319.0M |
| Gross Margin | 19.4% | — |
| Operating Margin | -24.5% | — |
| Net Margin | -37.9% | -14.2% |
| Revenue YoY | 458.0% | 4.7% |
| Net Profit YoY | -120.3% | -53.4% |
| EPS (diluted) | $-2.21 | $-0.86 |
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 | — | $2.2B | ||
| Q4 25 | $3.0B | $2.2B | ||
| Q3 25 | $2.8B | $2.3B | ||
| Q2 25 | $2.8B | $2.4B | ||
| Q1 25 | $2.6B | $2.1B | ||
| Q4 24 | $533.0M | $2.3B | ||
| Q3 24 | $2.7B | $2.4B | ||
| Q2 24 | $3.8B | $2.4B |
| Q1 26 | — | $-319.0M | ||
| Q4 25 | $-1.1B | $-177.0M | ||
| Q3 25 | $-46.0M | $-143.0M | ||
| Q2 25 | $91.0M | $-74.0M | ||
| Q1 25 | $126.0M | $-208.0M | ||
| Q4 24 | $-512.0M | $-44.0M | ||
| Q3 24 | $140.0M | $-60.0M | ||
| Q2 24 | $-314.0M | $25.0M |
| Q1 26 | — | — | ||
| 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 | — | — | ||
| Q4 25 | -24.5% | -4.5% | ||
| Q3 25 | 6.1% | -4.3% | ||
| Q2 25 | 6.8% | 0.3% | ||
| Q1 25 | 2.2% | -8.1% | ||
| Q4 24 | -25.5% | 0.7% | ||
| Q3 24 | 5.7% | -1.6% | ||
| Q2 24 | -5.0% | 2.3% |
| Q1 26 | — | -14.2% | ||
| Q4 25 | -37.9% | -7.9% | ||
| Q3 25 | -1.6% | -6.2% | ||
| Q2 25 | 3.2% | -3.1% | ||
| Q1 25 | 4.8% | -9.7% | ||
| Q4 24 | -96.1% | -1.9% | ||
| Q3 24 | 5.2% | -2.5% | ||
| Q2 24 | -8.2% | 1.0% |
| Q1 26 | — | $-0.86 | ||
| Q4 25 | $-2.21 | $-0.47 | ||
| Q3 25 | $-0.09 | $-0.39 | ||
| Q2 25 | $0.18 | $-0.21 | ||
| Q1 25 | $0.25 | $-0.59 | ||
| Q4 24 | $-0.99 | $-0.09 | ||
| Q3 24 | $0.27 | $-0.17 | ||
| Q2 24 | $-0.62 | $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 | $2.0B | $1.9B |
| Total DebtLower is stronger | $9.5B | — |
| Stockholders' EquityBook value | $6.1B | $1.8B |
| Total Assets | $20.1B | $16.6B |
| Debt / EquityLower = less leverage | 1.55× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.9B | ||
| Q4 25 | $2.0B | $2.2B | ||
| Q3 25 | $1.7B | $2.6B | ||
| Q2 25 | $1.7B | $3.1B | ||
| Q1 25 | $2.3B | $3.5B | ||
| Q4 24 | $1.8B | $3.6B | ||
| Q3 24 | $1.4B | $4.0B | ||
| Q2 24 | $2.1B | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | $9.5B | $7.7B | ||
| Q3 25 | — | $7.8B | ||
| Q2 25 | — | $7.7B | ||
| Q1 25 | — | $8.1B | ||
| Q4 24 | $10.4B | $8.1B | ||
| Q3 24 | $10.4B | $7.9B | ||
| Q2 24 | $10.4B | $5.0B |
| Q1 26 | — | $1.8B | ||
| Q4 25 | $6.1B | $2.1B | ||
| Q3 25 | $7.2B | $2.3B | ||
| Q2 25 | $7.3B | $2.4B | ||
| Q1 25 | $7.1B | $2.4B | ||
| Q4 24 | $7.0B | $2.6B | ||
| Q3 24 | $7.9B | $2.6B | ||
| Q2 24 | $7.6B | $2.7B |
| Q1 26 | — | $16.6B | ||
| Q4 25 | $20.1B | $16.6B | ||
| Q3 25 | $21.1B | $16.6B | ||
| Q2 25 | $21.0B | $16.9B | ||
| Q1 25 | $21.3B | $17.1B | ||
| Q4 24 | $25.8B | $16.8B | ||
| Q3 24 | $26.7B | $16.6B | ||
| Q2 24 | $26.3B | $14.0B |
| Q1 26 | — | — | ||
| Q4 25 | 1.55× | 3.65× | ||
| Q3 25 | — | 3.42× | ||
| Q2 25 | — | 3.21× | ||
| Q1 25 | — | 3.31× | ||
| Q4 24 | 1.49× | 3.08× | ||
| Q3 24 | 1.33× | 2.98× | ||
| Q2 24 | 1.37× | 1.86× |
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 | $584.0M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 6.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $584.0M | $49.0M | ||
| Q3 25 | $237.0M | $-142.0M | ||
| Q2 25 | $217.0M | $-115.0M | ||
| Q1 25 | $-193.0M | $114.0M | ||
| Q4 24 | $488.0M | $-17.0M | ||
| Q3 24 | $253.0M | $-29.0M | ||
| Q2 24 | $115.0M | $-14.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-287.0M | ||
| Q3 25 | — | $-411.0M | ||
| Q2 25 | — | $-412.0M | ||
| Q1 25 | — | $-62.0M | ||
| Q4 24 | — | $-368.0M | ||
| Q3 24 | — | $-302.0M | ||
| Q2 24 | — | $-441.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -12.8% | ||
| Q3 25 | — | -17.7% | ||
| Q2 25 | — | -17.5% | ||
| Q1 25 | — | -2.9% | ||
| Q4 24 | — | -16.2% | ||
| Q3 24 | — | -12.8% | ||
| Q2 24 | — | -18.2% |
| Q1 26 | — | 6.3% | ||
| Q4 25 | — | 15.0% | ||
| Q3 25 | — | 11.6% | ||
| Q2 25 | — | 12.6% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | 15.4% | ||
| Q3 24 | — | 11.5% | ||
| Q2 24 | — | 17.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.38× | — | ||
| Q1 25 | -1.53× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.81× | — | ||
| Q2 24 | — | -0.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
JBLU
Segment breakdown not available.
