vs
Side-by-side financial comparison of Baxter International (BAX) and Pediatrix Medical Group, Inc. (MD). Click either name above to swap in a different company.
Baxter International is the larger business by last-quarter revenue ($3.0B vs $493.8M, roughly 6.0× Pediatrix Medical Group, Inc.). Pediatrix Medical Group, Inc. runs the higher net margin — 6.8% vs -37.9%, a 44.8% gap on every dollar of revenue. On growth, Baxter International posted the faster year-over-year revenue change (458.0% vs -1.7%). Over the past eight quarters, Pediatrix Medical Group, Inc.'s revenue compounded faster (-0.1% CAGR vs -9.0%).
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
Pediatrix Medical Group, Inc. is a leading U.S. specialized medical service provider focusing on maternal-fetal care, neonatology, pediatric cardiology and other pediatric subspecialties. It partners with U.S. healthcare facilities to deliver evidence-based care to women, newborns and children.
BAX vs MD — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $3.0B | $493.8M |
| Net Profit | $-1.1B | $33.7M |
| Gross Margin | 19.4% | — |
| Operating Margin | -24.5% | 9.9% |
| Net Margin | -37.9% | 6.8% |
| Revenue YoY | 458.0% | -1.7% |
| Net Profit YoY | -120.3% | 10.5% |
| EPS (diluted) | $-2.21 | $0.40 |
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.
| Q4 25 | $3.0B | $493.8M | ||
| Q3 25 | $2.8B | $492.9M | ||
| Q2 25 | $2.8B | $468.8M | ||
| Q1 25 | $2.6B | $458.4M | ||
| Q4 24 | $533.0M | $502.4M | ||
| Q3 24 | $2.7B | $511.2M | ||
| Q2 24 | $3.8B | $504.3M | ||
| Q1 24 | $3.6B | $495.1M |
| Q4 25 | $-1.1B | $33.7M | ||
| Q3 25 | $-46.0M | $71.7M | ||
| Q2 25 | $91.0M | $39.3M | ||
| Q1 25 | $126.0M | $20.7M | ||
| Q4 24 | $-512.0M | $30.5M | ||
| Q3 24 | $140.0M | $19.4M | ||
| Q2 24 | $-314.0M | $-153.0M | ||
| Q1 24 | $37.0M | $4.0M |
| 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 24 | 38.6% | — |
| Q4 25 | -24.5% | 9.9% | ||
| Q3 25 | 6.1% | 13.8% | ||
| Q2 25 | 6.8% | 12.8% | ||
| Q1 25 | 2.2% | 7.0% | ||
| Q4 24 | -25.5% | 7.8% | ||
| Q3 24 | 5.7% | 6.6% | ||
| Q2 24 | -5.0% | -31.3% | ||
| Q1 24 | 5.2% | 3.2% |
| Q4 25 | -37.9% | 6.8% | ||
| Q3 25 | -1.6% | 14.5% | ||
| Q2 25 | 3.2% | 8.4% | ||
| Q1 25 | 4.8% | 4.5% | ||
| Q4 24 | -96.1% | 6.1% | ||
| Q3 24 | 5.2% | 3.8% | ||
| Q2 24 | -8.2% | -30.3% | ||
| Q1 24 | 1.0% | 0.8% |
| Q4 25 | $-2.21 | $0.40 | ||
| Q3 25 | $-0.09 | $0.84 | ||
| Q2 25 | $0.18 | $0.46 | ||
| Q1 25 | $0.25 | $0.24 | ||
| Q4 24 | $-0.99 | $0.37 | ||
| Q3 24 | $0.27 | $0.23 | ||
| Q2 24 | $-0.62 | $-1.84 | ||
| Q1 24 | $0.07 | $0.05 |
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 | $375.2M |
| Total DebtLower is stronger | $9.5B | $570.5M |
| Stockholders' EquityBook value | $6.1B | $865.9M |
| Total Assets | $20.1B | $2.2B |
| Debt / EquityLower = less leverage | 1.55× | 0.66× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $375.2M | ||
| Q3 25 | $1.7B | $340.1M | ||
| Q2 25 | $1.7B | $224.7M | ||
| Q1 25 | $2.3B | $99.0M | ||
| Q4 24 | $1.8B | $229.9M | ||
| Q3 24 | $1.4B | $103.8M | ||
| Q2 24 | $2.1B | $19.4M | ||
| Q1 24 | $3.0B | $8.0M |
| Q4 25 | $9.5B | $570.5M | ||
| Q3 25 | — | $577.2M | ||
| Q2 25 | — | $583.9M | ||
| Q1 25 | — | $590.5M | ||
| Q4 24 | $10.4B | $597.1M | ||
| Q3 24 | $10.4B | — | ||
| Q2 24 | $10.4B | — | ||
| Q1 24 | $11.1B | — |
| Q4 25 | $6.1B | $865.9M | ||
| Q3 25 | $7.2B | $890.7M | ||
| Q2 25 | $7.3B | $833.8M | ||
| Q1 25 | $7.1B | $789.2M | ||
| Q4 24 | $7.0B | $764.9M | ||
| Q3 24 | $7.9B | $732.5M | ||
| Q2 24 | $7.6B | $706.5M | ||
| Q1 24 | $8.2B | $856.2M |
| Q4 25 | $20.1B | $2.2B | ||
| Q3 25 | $21.1B | $2.2B | ||
| Q2 25 | $21.0B | $2.1B | ||
| Q1 25 | $21.3B | $2.0B | ||
| Q4 24 | $25.8B | $2.2B | ||
| Q3 24 | $26.7B | $2.1B | ||
| Q2 24 | $26.3B | $2.0B | ||
| Q1 24 | $27.8B | $2.2B |
| Q4 25 | 1.55× | 0.66× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 1.49× | 0.78× | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.37× | — | ||
| Q1 24 | 1.36× | — |
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 | $114.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.39× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $584.0M | $114.1M | ||
| Q3 25 | $237.0M | $137.3M | ||
| Q2 25 | $217.0M | $137.2M | ||
| Q1 25 | $-193.0M | $-117.5M | ||
| Q4 24 | $488.0M | $133.0M | ||
| Q3 24 | $253.0M | $91.8M | ||
| Q2 24 | $115.0M | $107.0M | ||
| Q1 24 | $163.0M | $-125.2M |
| Q4 25 | — | 3.39× | ||
| Q3 25 | — | 1.91× | ||
| Q2 25 | 2.38× | 3.49× | ||
| Q1 25 | -1.53× | -5.66× | ||
| Q4 24 | — | 4.36× | ||
| Q3 24 | 1.81× | 4.72× | ||
| Q2 24 | — | — | ||
| Q1 24 | 4.41× | -31.03× |
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% |
MD
| Health Care Patient Service | $421.6M | 85% |
| Hospitals Contracts | $70.0M | 14% |
| Other | $2.2M | 0% |
