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Side-by-side financial comparison of Baxter International (BAX) and LOGITECH INTERNATIONAL S.A. (LOGI). Click either name above to swap in a different company.
Baxter International is the larger business by last-quarter revenue ($2.7B vs $1.4B, roughly 1.9× LOGITECH INTERNATIONAL S.A.). LOGITECH INTERNATIONAL S.A. runs the higher net margin — 17.7% vs -0.6%, a 18.2% gap on every dollar of revenue. On growth, LOGITECH INTERNATIONAL S.A. posted the faster year-over-year revenue change (6.1% vs 3.0%). LOGITECH INTERNATIONAL S.A. produced more free cash flow last quarter ($465.6M vs $76.0M). Over the past eight quarters, LOGITECH INTERNATIONAL S.A.'s revenue compounded faster (18.5% CAGR vs -15.8%).
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
Logitech International S.A. is a Swiss multinational manufacturer of computer peripherals and software. Headquartered in Lausanne, Switzerland, the company has offices throughout Europe, Asia, Oceania, and the Americas. It is a component of the Swiss Market Index, and is listed on the Nasdaq.
BAX vs LOGI — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $1.4B |
| Net Profit | $-15.0M | $251.0M |
| Gross Margin | 33.0% | 43.2% |
| Operating Margin | 2.4% | 20.1% |
| Net Margin | -0.6% | 17.7% |
| Revenue YoY | 3.0% | 6.1% |
| Net Profit YoY | — | 25.4% |
| EPS (diluted) | $-0.03 | $1.69 |
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 | $1.4B | ||
| Q3 25 | $2.8B | $1.2B | ||
| Q2 25 | $2.8B | $1.1B | ||
| Q1 25 | $2.6B | $1.0B | ||
| Q4 24 | $533.0M | $1.3B | ||
| Q3 24 | $2.7B | $1.1B | ||
| Q2 24 | $3.8B | $1.1B |
| Q1 26 | $-15.0M | — | ||
| Q4 25 | $-1.1B | $251.0M | ||
| Q3 25 | $-46.0M | $170.7M | ||
| Q2 25 | $91.0M | $146.0M | ||
| Q1 25 | $126.0M | $144.1M | ||
| Q4 24 | $-512.0M | $200.1M | ||
| Q3 24 | $140.0M | $145.5M | ||
| Q2 24 | $-314.0M | $141.8M |
| Q1 26 | 33.0% | — | ||
| Q4 25 | 19.4% | 43.2% | ||
| Q3 25 | 33.5% | 43.4% | ||
| Q2 25 | 35.3% | 41.7% | ||
| Q1 25 | 32.8% | 43.1% | ||
| Q4 24 | 25.0% | 42.9% | ||
| Q3 24 | 38.3% | 43.6% | ||
| Q2 24 | 37.5% | 42.8% |
| Q1 26 | 2.4% | — | ||
| Q4 25 | -24.5% | 20.1% | ||
| Q3 25 | 6.1% | 16.1% | ||
| Q2 25 | 6.8% | 14.1% | ||
| Q1 25 | 2.2% | 10.5% | ||
| Q4 24 | -25.5% | 17.5% | ||
| Q3 24 | 5.7% | 14.4% | ||
| Q2 24 | -5.0% | 14.1% |
| Q1 26 | -0.6% | — | ||
| Q4 25 | -37.9% | 17.7% | ||
| Q3 25 | -1.6% | 14.4% | ||
| Q2 25 | 3.2% | 12.7% | ||
| Q1 25 | 4.8% | 14.3% | ||
| Q4 24 | -96.1% | 14.9% | ||
| Q3 24 | 5.2% | 13.0% | ||
| Q2 24 | -8.2% | 13.0% |
| Q1 26 | $-0.03 | — | ||
| Q4 25 | $-2.21 | $1.69 | ||
| Q3 25 | $-0.09 | $1.15 | ||
| Q2 25 | $0.18 | $0.98 | ||
| Q1 25 | $0.25 | $0.94 | ||
| Q4 24 | $-0.99 | $1.32 | ||
| Q3 24 | $0.27 | $0.95 | ||
| Q2 24 | $-0.62 | $0.92 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.8B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $2.3B |
| Total Assets | — | $4.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $1.8B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $1.7B | $1.5B | ||
| Q1 25 | $2.3B | $1.5B | ||
| Q4 24 | $1.8B | $1.5B | ||
| Q3 24 | $1.4B | $1.4B | ||
| Q2 24 | $2.1B | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | $9.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $10.4B | — | ||
| Q3 24 | $10.4B | — | ||
| Q2 24 | $10.4B | — |
| Q1 26 | — | — | ||
| Q4 25 | $6.1B | $2.3B | ||
| Q3 25 | $7.2B | $2.1B | ||
| Q2 25 | $7.3B | $2.2B | ||
| Q1 25 | $7.1B | $2.1B | ||
| Q4 24 | $7.0B | $2.1B | ||
| Q3 24 | $7.9B | $2.1B | ||
| Q2 24 | $7.6B | $2.2B |
| Q1 26 | — | — | ||
| Q4 25 | $20.1B | $4.1B | ||
| Q3 25 | $21.1B | $3.7B | ||
| Q2 25 | $21.0B | $3.7B | ||
| Q1 25 | $21.3B | $3.5B | ||
| Q4 24 | $25.8B | $3.7B | ||
| Q3 24 | $26.7B | $3.6B | ||
| Q2 24 | $26.3B | $3.7B |
| Q1 26 | — | — | ||
| Q4 25 | 1.55× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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 | — | $480.5M |
| Free Cash FlowOCF − Capex | $76.0M | $465.6M |
| FCF MarginFCF / Revenue | 2.8% | 32.8% |
| Capex IntensityCapex / Revenue | 5.1% | 1.0% |
| Cash ConversionOCF / Net Profit | — | 1.91× |
| TTM Free Cash FlowTrailing 4 quarters | — | $903.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $584.0M | $480.5M | ||
| Q3 25 | $237.0M | $228.8M | ||
| Q2 25 | $217.0M | $125.0M | ||
| Q1 25 | $-193.0M | $129.7M | ||
| Q4 24 | $488.0M | $370.9M | ||
| Q3 24 | $253.0M | $166.0M | ||
| Q2 24 | $115.0M | $176.0M |
| Q1 26 | $76.0M | — | ||
| Q4 25 | — | $465.6M | ||
| Q3 25 | — | $212.3M | ||
| Q2 25 | — | $108.8M | ||
| Q1 25 | — | $116.9M | ||
| Q4 24 | — | $356.6M | ||
| Q3 24 | — | $151.5M | ||
| Q2 24 | — | $161.4M |
| Q1 26 | 2.8% | — | ||
| Q4 25 | — | 32.8% | ||
| Q3 25 | — | 17.9% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | 11.6% | ||
| Q4 24 | — | 26.6% | ||
| Q3 24 | — | 13.6% | ||
| Q2 24 | — | 14.8% |
| Q1 26 | 5.1% | — | ||
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.91× | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | 2.38× | 0.86× | ||
| Q1 25 | -1.53× | 0.90× | ||
| Q4 24 | — | 1.85× | ||
| Q3 24 | 1.81× | 1.14× | ||
| Q2 24 | — | 1.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAX
Segment breakdown not available.
LOGI
| Retail Gaming | $482.7M | 34% |
| Retail Keyboards Desktops | $254.6M | 18% |
| Retail Pointing Devices | $241.2M | 17% |
| Retail Video Collaboration | $193.3M | 14% |
| Retail Tablet And Other Accessories | $93.6M | 7% |
| Retail Webcams | $82.3M | 6% |
| Retail Headsets | $45.9M | 3% |
| Other Retail Products | $28.0M | 2% |
