vs
Side-by-side financial comparison of Baxter International (BAX) and MERCURY GENERAL CORP (MCY). Click either name above to swap in a different company.
Baxter International is the larger business by last-quarter revenue ($2.7B vs $1.5B, roughly 1.8× MERCURY GENERAL CORP). MERCURY GENERAL CORP runs the higher net margin — 13.2% vs -0.6%, a 13.7% gap on every dollar of revenue. On growth, MERCURY GENERAL CORP posted the faster year-over-year revenue change (12.4% vs 3.0%). MERCURY GENERAL CORP produced more free cash flow last quarter ($273.9M vs $76.0M). Over the past eight quarters, MERCURY GENERAL CORP's revenue compounded faster (9.8% CAGR vs -15.8%).
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
Mercury General Corporation is a multiple-line insurance organization that offers personal automobiles, homeowners, renters, and business insurance. Mercury's primary focus is automobiles and homeowners' insurance.
BAX vs MCY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $1.5B |
| Net Profit | $-15.0M | $202.5M |
| Gross Margin | 33.0% | 99.7% |
| Operating Margin | 2.4% | 16.2% |
| Net Margin | -0.6% | 13.2% |
| Revenue YoY | 3.0% | 12.4% |
| Net Profit YoY | — | 100.4% |
| EPS (diluted) | $-0.03 | $3.66 |
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 | $1.5B | ||
| Q3 25 | $2.8B | $1.6B | ||
| Q2 25 | $2.8B | $1.5B | ||
| Q1 25 | $2.6B | $1.4B | ||
| Q4 24 | $533.0M | $1.4B | ||
| Q3 24 | $2.7B | $1.5B | ||
| Q2 24 | $3.8B | $1.3B |
| Q1 26 | $-15.0M | — | ||
| Q4 25 | $-1.1B | $202.5M | ||
| Q3 25 | $-46.0M | $280.4M | ||
| Q2 25 | $91.0M | $166.5M | ||
| Q1 25 | $126.0M | $-108.3M | ||
| Q4 24 | $-512.0M | $101.1M | ||
| Q3 24 | $140.0M | $230.9M | ||
| Q2 24 | $-314.0M | $62.6M |
| Q1 26 | 33.0% | — | ||
| Q4 25 | 19.4% | 99.7% | ||
| Q3 25 | 33.5% | 99.8% | ||
| Q2 25 | 35.3% | 99.8% | ||
| Q1 25 | 32.8% | 99.7% | ||
| Q4 24 | 25.0% | 99.7% | ||
| Q3 24 | 38.3% | 99.8% | ||
| Q2 24 | 37.5% | 99.8% |
| Q1 26 | 2.4% | — | ||
| Q4 25 | -24.5% | 16.2% | ||
| Q3 25 | 6.1% | 22.1% | ||
| Q2 25 | 6.8% | 14.0% | ||
| Q1 25 | 2.2% | -10.2% | ||
| Q4 24 | -25.5% | 9.0% | ||
| Q3 24 | 5.7% | 18.8% | ||
| Q2 24 | -5.0% | 5.8% |
| Q1 26 | -0.6% | — | ||
| Q4 25 | -37.9% | 13.2% | ||
| Q3 25 | -1.6% | 17.7% | ||
| Q2 25 | 3.2% | 11.3% | ||
| Q1 25 | 4.8% | -7.8% | ||
| Q4 24 | -96.1% | 7.4% | ||
| Q3 24 | 5.2% | 15.1% | ||
| Q2 24 | -8.2% | 4.8% |
| Q1 26 | $-0.03 | — | ||
| Q4 25 | $-2.21 | $3.66 | ||
| Q3 25 | $-0.09 | $5.06 | ||
| Q2 25 | $0.18 | $3.01 | ||
| Q1 25 | $0.25 | $-1.96 | ||
| Q4 24 | $-0.99 | $1.82 | ||
| Q3 24 | $0.27 | $4.17 | ||
| Q2 24 | $-0.62 | $1.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | $575.0M |
| Stockholders' EquityBook value | — | $2.4B |
| Total Assets | — | $9.6B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $2.1B | — |
| Q1 26 | — | — | ||
| Q4 25 | $9.5B | $575.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $10.4B | $575.0M | ||
| Q3 24 | $10.4B | — | ||
| Q2 24 | $10.4B | — |
| Q1 26 | — | — | ||
| Q4 25 | $6.1B | $2.4B | ||
| Q3 25 | $7.2B | $2.2B | ||
| Q2 25 | $7.3B | $2.0B | ||
| Q1 25 | $7.1B | $1.8B | ||
| Q4 24 | $7.0B | $1.9B | ||
| Q3 24 | $7.9B | $1.9B | ||
| Q2 24 | $7.6B | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $20.1B | $9.6B | ||
| Q3 25 | $21.1B | $9.4B | ||
| Q2 25 | $21.0B | $9.1B | ||
| Q1 25 | $21.3B | $9.0B | ||
| Q4 24 | $25.8B | $8.3B | ||
| Q3 24 | $26.7B | $8.2B | ||
| Q2 24 | $26.3B | $7.7B |
| Q1 26 | — | — | ||
| Q4 25 | 1.55× | 0.24× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.49× | 0.30× | ||
| 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 | — | $287.9M |
| Free Cash FlowOCF − Capex | $76.0M | $273.9M |
| FCF MarginFCF / Revenue | 2.8% | 17.8% |
| Capex IntensityCapex / Revenue | 5.1% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.0B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $584.0M | $287.9M | ||
| Q3 25 | $237.0M | $496.4M | ||
| Q2 25 | $217.0M | $371.6M | ||
| Q1 25 | $-193.0M | $-68.7M | ||
| Q4 24 | $488.0M | $248.3M | ||
| Q3 24 | $253.0M | $318.1M | ||
| Q2 24 | $115.0M | $278.0M |
| Q1 26 | $76.0M | — | ||
| Q4 25 | — | $273.9M | ||
| Q3 25 | — | $479.5M | ||
| Q2 25 | — | $357.2M | ||
| Q1 25 | — | $-81.9M | ||
| Q4 24 | — | $236.0M | ||
| Q3 24 | — | $306.2M | ||
| Q2 24 | — | $266.5M |
| Q1 26 | 2.8% | — | ||
| Q4 25 | — | 17.8% | ||
| Q3 25 | — | 30.3% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | — | -5.9% | ||
| Q4 24 | — | 17.3% | ||
| Q3 24 | — | 20.0% | ||
| Q2 24 | — | 20.4% |
| Q1 26 | 5.1% | — | ||
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.42× | ||
| Q3 25 | — | 1.77× | ||
| Q2 25 | 2.38× | 2.23× | ||
| Q1 25 | -1.53× | — | ||
| Q4 24 | — | 2.46× | ||
| Q3 24 | 1.81× | 1.38× | ||
| Q2 24 | — | 4.44× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
