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Side-by-side financial comparison of Baxter International (BAX) and PILGRIMS PRIDE CORP (PPC). Click either name above to swap in a different company.
PILGRIMS PRIDE CORP is the larger business by last-quarter revenue ($4.5B vs $3.0B, roughly 1.5× Baxter International). PILGRIMS PRIDE CORP runs the higher net margin — 1.9% vs -37.9%, a 39.9% gap on every dollar of revenue. On growth, Baxter International posted the faster year-over-year revenue change (458.0% vs 3.3%). Over the past eight quarters, PILGRIMS PRIDE CORP's revenue compounded faster (1.8% CAGR vs -9.0%).
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
Pilgrim's Pride Corporation is an American, multi-national food company, currently one of the largest chicken producers in the United States and Puerto Rico and the second-largest chicken producer in Mexico. It exited bankruptcy in December 2009 and relocated its U.S. headquarters to Greeley, Colorado, in 2011. It is majority-owned by JBS S.A. Pilgrim's Pride purchased Gold'n Plump for $350 million in late November 2016.
BAX vs PPC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.0B | $4.5B |
| Net Profit | $-1.1B | $88.0M |
| Gross Margin | 19.4% | 9.5% |
| Operating Margin | -24.5% | 4.5% |
| Net Margin | -37.9% | 1.9% |
| Revenue YoY | 458.0% | 3.3% |
| Net Profit YoY | -120.3% | -62.7% |
| EPS (diluted) | $-2.21 | $0.37 |
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 | $4.5B | ||
| Q3 25 | $2.8B | $4.8B | ||
| Q2 25 | $2.8B | $4.8B | ||
| Q1 25 | $2.6B | $4.5B | ||
| Q4 24 | $533.0M | $4.4B | ||
| Q3 24 | $2.7B | $4.6B | ||
| Q2 24 | $3.8B | $4.6B | ||
| Q1 24 | $3.6B | $4.4B |
| Q4 25 | $-1.1B | $88.0M | ||
| Q3 25 | $-46.0M | $342.8M | ||
| Q2 25 | $91.0M | $355.5M | ||
| Q1 25 | $126.0M | $296.0M | ||
| Q4 24 | $-512.0M | $235.9M | ||
| Q3 24 | $140.0M | $349.9M | ||
| Q2 24 | $-314.0M | $326.3M | ||
| Q1 24 | $37.0M | $174.4M |
| Q4 25 | 19.4% | 9.5% | ||
| Q3 25 | 33.5% | 13.9% | ||
| Q2 25 | 35.3% | 15.0% | ||
| Q1 25 | 32.8% | 12.4% | ||
| Q4 24 | 25.0% | 12.7% | ||
| Q3 24 | 38.3% | 14.9% | ||
| Q2 24 | 37.5% | 15.2% | ||
| Q1 24 | 38.6% | 8.8% |
| Q4 25 | -24.5% | 4.5% | ||
| Q3 25 | 6.1% | 10.4% | ||
| Q2 25 | 6.8% | 10.8% | ||
| Q1 25 | 2.2% | 9.1% | ||
| Q4 24 | -25.5% | 7.0% | ||
| Q3 24 | 5.7% | 11.1% | ||
| Q2 24 | -5.0% | 9.7% | ||
| Q1 24 | 5.2% | 5.7% |
| Q4 25 | -37.9% | 1.9% | ||
| Q3 25 | -1.6% | 7.2% | ||
| Q2 25 | 3.2% | 7.5% | ||
| Q1 25 | 4.8% | 6.6% | ||
| Q4 24 | -96.1% | 5.4% | ||
| Q3 24 | 5.2% | 7.6% | ||
| Q2 24 | -8.2% | 7.2% | ||
| Q1 24 | 1.0% | 4.0% |
| Q4 25 | $-2.21 | $0.37 | ||
| Q3 25 | $-0.09 | $1.44 | ||
| Q2 25 | $0.18 | $1.49 | ||
| Q1 25 | $0.25 | $1.24 | ||
| Q4 24 | $-0.99 | $1.00 | ||
| Q3 24 | $0.27 | $1.47 | ||
| Q2 24 | $-0.62 | $1.37 | ||
| Q1 24 | $0.07 | $0.73 |
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 | $640.2M |
| Total DebtLower is stronger | $9.5B | $3.1B |
| Stockholders' EquityBook value | $6.1B | $3.7B |
| Total Assets | $20.1B | $10.3B |
| Debt / EquityLower = less leverage | 1.55× | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $640.2M | ||
| Q3 25 | $1.7B | $612.6M | ||
| Q2 25 | $1.7B | $849.0M | ||
| Q1 25 | $2.3B | $2.1B | ||
| Q4 24 | $1.8B | $2.0B | ||
| Q3 24 | $1.4B | $1.9B | ||
| Q2 24 | $2.1B | $1.3B | ||
| Q1 24 | $3.0B | $870.8M |
| Q4 25 | $9.5B | $3.1B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | $10.4B | $3.2B | ||
| Q3 24 | $10.4B | $3.2B | ||
| Q2 24 | $10.4B | $3.2B | ||
| Q1 24 | $11.1B | $3.3B |
| Q4 25 | $6.1B | $3.7B | ||
| Q3 25 | $7.2B | $3.5B | ||
| Q2 25 | $7.3B | $3.7B | ||
| Q1 25 | $7.1B | $3.1B | ||
| Q4 24 | $7.0B | $4.2B | ||
| Q3 24 | $7.9B | $4.2B | ||
| Q2 24 | $7.6B | $3.7B | ||
| Q1 24 | $8.2B | $3.5B |
| Q4 25 | $20.1B | $10.3B | ||
| Q3 25 | $21.1B | $10.0B | ||
| Q2 25 | $21.0B | $10.1B | ||
| Q1 25 | $21.3B | $11.0B | ||
| Q4 24 | $25.8B | $10.7B | ||
| Q3 24 | $26.7B | $10.7B | ||
| Q2 24 | $26.3B | $10.1B | ||
| Q1 24 | $27.8B | $9.8B |
| Q4 25 | 1.55× | 0.84× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 0.83× | ||
| Q1 25 | — | 1.02× | ||
| Q4 24 | 1.49× | 0.76× | ||
| Q3 24 | 1.33× | 0.76× | ||
| Q2 24 | 1.37× | 0.85× | ||
| Q1 24 | 1.36× | 0.96× |
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 | $291.2M |
| Free Cash FlowOCF − Capex | — | $10.0M |
| FCF MarginFCF / Revenue | — | 0.2% |
| Capex IntensityCapex / Revenue | — | 6.2% |
| Cash ConversionOCF / Net Profit | — | 3.31× |
| TTM Free Cash FlowTrailing 4 quarters | — | $653.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $584.0M | $291.2M | ||
| Q3 25 | $237.0M | $458.3M | ||
| Q2 25 | $217.0M | $495.2M | ||
| Q1 25 | $-193.0M | $126.9M | ||
| Q4 24 | $488.0M | $349.3M | ||
| Q3 24 | $253.0M | $651.1M | ||
| Q2 24 | $115.0M | $718.6M | ||
| Q1 24 | $163.0M | $271.0M |
| Q4 25 | — | $10.0M | ||
| Q3 25 | — | $275.9M | ||
| Q2 25 | — | $339.1M | ||
| Q1 25 | — | $28.1M | ||
| Q4 24 | — | $176.6M | ||
| Q3 24 | — | $565.3M | ||
| Q2 24 | — | $617.7M | ||
| Q1 24 | — | $171.9M |
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 5.8% | ||
| Q2 25 | — | 7.1% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 12.3% | ||
| Q2 24 | — | 13.5% | ||
| Q1 24 | — | 3.9% |
| Q4 25 | — | 6.2% | ||
| Q3 25 | — | 3.8% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 2.2% | ||
| Q1 24 | — | 2.3% |
| Q4 25 | — | 3.31× | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | 2.38× | 1.39× | ||
| Q1 25 | -1.53× | 0.43× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | 1.81× | 1.86× | ||
| Q2 24 | — | 2.20× | ||
| Q1 24 | 4.41× | 1.55× |
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% |
PPC
| Retail | $1.5B | 33% |
| Europe Reportable Segment | $1.4B | 31% |
| Food Service | $889.2M | 20% |
| Prepared Product | $332.8M | 7% |
| Product Export | $122.7M | 3% |
| Other Sales Channel | $96.0M | 2% |
| Other Product And Service | $79.7M | 2% |
| Related Party | $21.7M | 0% |
| Seara Meats B.V. | $18.9M | 0% |
| Penasul UKLTD | $10.3M | 0% |
| JBSUSA Food Company | $5.4M | 0% |
