vs
Side-by-side financial comparison of Baxter International (BAX) and RESIDEO TECHNOLOGIES, INC. (REZI). Click either name above to swap in a different company.
Baxter International is the larger business by last-quarter revenue ($2.7B vs $1.9B, roughly 1.4× RESIDEO TECHNOLOGIES, INC.). RESIDEO TECHNOLOGIES, INC. runs the higher net margin — 7.2% vs -0.6%, a 7.7% gap on every dollar of revenue. On growth, Baxter International posted the faster year-over-year revenue change (3.0% vs 2.0%). RESIDEO TECHNOLOGIES, INC. produced more free cash flow last quarter ($262.0M vs $76.0M). Over the past eight quarters, RESIDEO TECHNOLOGIES, INC.'s revenue compounded faster (12.9% CAGR vs -15.8%).
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
Resideo Technologies, Inc. is an American multinational company that was formed in 2018 out of a spin-off from Honeywell. It provides room air temperature, quality, and humidity control and security systems primarily in residential dwellings in the U.S. and internationally. The company operates in two segments: products and distribution. It manufactures and distributes smart-home and software products, including temperature and lighting control, security, and water and air monitoring. The com...
BAX vs REZI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $1.9B |
| Net Profit | $-15.0M | $136.0M |
| Gross Margin | 33.0% | 29.6% |
| Operating Margin | 2.4% | 7.4% |
| Net Margin | -0.6% | 7.2% |
| Revenue YoY | 3.0% | 2.0% |
| Net Profit YoY | — | 491.3% |
| EPS (diluted) | $-0.03 | $0.99 |
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 | $1.9B | ||
| Q3 25 | $2.8B | $1.9B | ||
| Q2 25 | $2.8B | $1.9B | ||
| Q1 25 | $2.6B | $1.8B | ||
| Q4 24 | $533.0M | $1.9B | ||
| Q3 24 | $2.7B | $1.8B | ||
| Q2 24 | $3.8B | $1.6B |
| Q1 26 | $-15.0M | — | ||
| Q4 25 | $-1.1B | $136.0M | ||
| Q3 25 | $-46.0M | $156.0M | ||
| Q2 25 | $91.0M | $-825.0M | ||
| Q1 25 | $126.0M | $6.0M | ||
| Q4 24 | $-512.0M | $23.0M | ||
| Q3 24 | $140.0M | $20.0M | ||
| Q2 24 | $-314.0M | $30.0M |
| Q1 26 | 33.0% | — | ||
| Q4 25 | 19.4% | 29.6% | ||
| Q3 25 | 33.5% | 29.8% | ||
| Q2 25 | 35.3% | 29.3% | ||
| Q1 25 | 32.8% | 28.9% | ||
| Q4 24 | 25.0% | 28.5% | ||
| Q3 24 | 38.3% | 28.7% | ||
| Q2 24 | 37.5% | 28.1% |
| Q1 26 | 2.4% | — | ||
| Q4 25 | -24.5% | 7.4% | ||
| Q3 25 | 6.1% | 8.3% | ||
| Q2 25 | 6.8% | 9.1% | ||
| Q1 25 | 2.2% | 7.7% | ||
| Q4 24 | -25.5% | 7.8% | ||
| Q3 24 | 5.7% | 6.9% | ||
| Q2 24 | -5.0% | 7.7% |
| Q1 26 | -0.6% | — | ||
| Q4 25 | -37.9% | 7.2% | ||
| Q3 25 | -1.6% | 8.4% | ||
| Q2 25 | 3.2% | -42.5% | ||
| Q1 25 | 4.8% | 0.3% | ||
| Q4 24 | -96.1% | 1.2% | ||
| Q3 24 | 5.2% | 1.1% | ||
| Q2 24 | -8.2% | 1.9% |
| Q1 26 | $-0.03 | — | ||
| Q4 25 | $-2.21 | $0.99 | ||
| Q3 25 | $-0.09 | $0.85 | ||
| Q2 25 | $0.18 | $-5.59 | ||
| Q1 25 | $0.25 | $-0.02 | ||
| Q4 24 | $-0.99 | $0.06 | ||
| Q3 24 | $0.27 | $0.07 | ||
| Q2 24 | $-0.62 | $0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $661.0M |
| Total DebtLower is stronger | — | $3.2B |
| Stockholders' EquityBook value | — | $2.9B |
| Total Assets | — | $8.4B |
| Debt / EquityLower = less leverage | — | 1.11× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $661.0M | ||
| Q3 25 | $1.7B | $345.0M | ||
| Q2 25 | $1.7B | $753.0M | ||
| Q1 25 | $2.3B | $577.0M | ||
| Q4 24 | $1.8B | $692.0M | ||
| Q3 24 | $1.4B | $531.0M | ||
| Q2 24 | $2.1B | $413.0M |
| Q1 26 | — | — | ||
| Q4 25 | $9.5B | $3.2B | ||
| Q3 25 | — | $3.2B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | $10.4B | $2.0B | ||
| Q3 24 | $10.4B | $2.0B | ||
| Q2 24 | $10.4B | $2.0B |
| Q1 26 | — | — | ||
| Q4 25 | $6.1B | $2.9B | ||
| Q3 25 | $7.2B | $2.8B | ||
| Q2 25 | $7.3B | $2.6B | ||
| Q1 25 | $7.1B | $3.3B | ||
| Q4 24 | $7.0B | $3.3B | ||
| Q3 24 | $7.9B | $3.4B | ||
| Q2 24 | $7.6B | $3.3B |
| Q1 26 | — | — | ||
| Q4 25 | $20.1B | $8.4B | ||
| Q3 25 | $21.1B | $8.2B | ||
| Q2 25 | $21.0B | $8.5B | ||
| Q1 25 | $21.3B | $8.1B | ||
| Q4 24 | $25.8B | $8.2B | ||
| Q3 24 | $26.7B | $8.1B | ||
| Q2 24 | $26.3B | $8.0B |
| Q1 26 | — | — | ||
| Q4 25 | 1.55× | 1.11× | ||
| Q3 25 | — | 1.17× | ||
| Q2 25 | — | 0.77× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | 1.49× | 0.61× | ||
| Q3 24 | 1.33× | 0.60× | ||
| Q2 24 | 1.37× | 0.61× |
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 | — | $299.0M |
| Free Cash FlowOCF − Capex | $76.0M | $262.0M |
| FCF MarginFCF / Revenue | 2.8% | 13.8% |
| Capex IntensityCapex / Revenue | 5.1% | 2.0% |
| Cash ConversionOCF / Net Profit | — | 2.20× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $584.0M | $299.0M | ||
| Q3 25 | $237.0M | $-1.6B | ||
| Q2 25 | $217.0M | $200.0M | ||
| Q1 25 | $-193.0M | $-65.0M | ||
| Q4 24 | $488.0M | $203.0M | ||
| Q3 24 | $253.0M | $147.0M | ||
| Q2 24 | $115.0M | $92.0M |
| Q1 26 | $76.0M | — | ||
| Q4 25 | — | $262.0M | ||
| Q3 25 | — | $-1.6B | ||
| Q2 25 | — | $180.0M | ||
| Q1 25 | — | $-96.0M | ||
| Q4 24 | — | $181.0M | ||
| Q3 24 | — | $125.0M | ||
| Q2 24 | — | $77.0M |
| Q1 26 | 2.8% | — | ||
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | -85.8% | ||
| Q2 25 | — | 9.3% | ||
| Q1 25 | — | -5.4% | ||
| Q4 24 | — | 9.7% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 4.8% |
| Q1 26 | 5.1% | — | ||
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | 1.2% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.20× | ||
| Q3 25 | — | -10.07× | ||
| Q2 25 | 2.38× | — | ||
| Q1 25 | -1.53× | -10.83× | ||
| Q4 24 | — | 8.83× | ||
| Q3 24 | 1.81× | 7.35× | ||
| Q2 24 | — | 3.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAX
Segment breakdown not available.
REZI
| ADI Global Distribution Segment | $1.2B | 62% |
| Safety And Security | $257.0M | 14% |
| Air | $211.0M | 11% |
| Energy Service | $153.0M | 8% |
| Public Utilities Inventory Water | $91.0M | 5% |
