vs
Side-by-side financial comparison of Baxter International (BAX) and SS&C Technologies Holdings Inc (SSNC). Click either name above to swap in a different company.
Baxter International is the larger business by last-quarter revenue ($2.7B vs $1.6B, roughly 1.6× SS&C Technologies Holdings Inc). SS&C Technologies Holdings Inc runs the higher net margin — 13.7% vs -0.6%, a 14.3% gap on every dollar of revenue. On growth, SS&C Technologies Holdings Inc posted the faster year-over-year revenue change (8.8% vs 3.0%). Over the past eight quarters, SS&C Technologies Holdings Inc's revenue compounded faster (6.5% CAGR vs -15.8%).
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
SS&C Technologies Holdings, Inc. is an American multinational holding company headquartered in Windsor, Connecticut, that sells software and software as a service to the financial services industry. The company has offices in the Americas, Europe, Asia, Africa and Australia.
BAX vs SSNC — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $1.6B |
| Net Profit | $-15.0M | $226.1M |
| Gross Margin | 33.0% | 48.7% |
| Operating Margin | 2.4% | 24.2% |
| Net Margin | -0.6% | 13.7% |
| Revenue YoY | 3.0% | 8.8% |
| Net Profit YoY | — | 6.2% |
| EPS (diluted) | $-0.03 | $0.91 |
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 | $1.6B | ||
| Q4 25 | $3.0B | $1.7B | ||
| Q3 25 | $2.8B | $1.6B | ||
| Q2 25 | $2.8B | $1.5B | ||
| Q1 25 | $2.6B | $1.5B | ||
| Q4 24 | $533.0M | $1.5B | ||
| Q3 24 | $2.7B | $1.5B | ||
| Q2 24 | $3.8B | $1.5B |
| Q1 26 | $-15.0M | $226.1M | ||
| Q4 25 | $-1.1B | $193.1M | ||
| Q3 25 | $-46.0M | $210.0M | ||
| Q2 25 | $91.0M | $180.8M | ||
| Q1 25 | $126.0M | $213.0M | ||
| Q4 24 | $-512.0M | $248.2M | ||
| Q3 24 | $140.0M | $164.4M | ||
| Q2 24 | $-314.0M | $190.3M |
| Q1 26 | 33.0% | 48.7% | ||
| Q4 25 | 19.4% | 47.8% | ||
| Q3 25 | 33.5% | 47.7% | ||
| Q2 25 | 35.3% | 48.0% | ||
| Q1 25 | 32.8% | 49.3% | ||
| Q4 24 | 25.0% | 49.3% | ||
| Q3 24 | 38.3% | 48.0% | ||
| Q2 24 | 37.5% | 48.1% |
| Q1 26 | 2.4% | 24.2% | ||
| Q4 25 | -24.5% | 22.3% | ||
| Q3 25 | 6.1% | 23.3% | ||
| Q2 25 | 6.8% | 22.4% | ||
| Q1 25 | 2.2% | 23.6% | ||
| Q4 24 | -25.5% | 23.4% | ||
| Q3 24 | 5.7% | 22.2% | ||
| Q2 24 | -5.0% | 22.6% |
| Q1 26 | -0.6% | 13.7% | ||
| Q4 25 | -37.9% | 11.7% | ||
| Q3 25 | -1.6% | 13.4% | ||
| Q2 25 | 3.2% | 11.8% | ||
| Q1 25 | 4.8% | 14.1% | ||
| Q4 24 | -96.1% | 16.2% | ||
| Q3 24 | 5.2% | 11.2% | ||
| Q2 24 | -8.2% | 13.1% |
| Q1 26 | $-0.03 | $0.91 | ||
| Q4 25 | $-2.21 | $0.76 | ||
| Q3 25 | $-0.09 | $0.83 | ||
| Q2 25 | $0.18 | $0.72 | ||
| Q1 25 | $0.25 | $0.84 | ||
| Q4 24 | $-0.99 | $0.98 | ||
| Q3 24 | $0.27 | $0.65 | ||
| Q2 24 | $-0.62 | $0.75 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $420.9M |
| Total DebtLower is stronger | — | $7.4B |
| Stockholders' EquityBook value | — | $6.9B |
| Total Assets | — | $20.3B |
| Debt / EquityLower = less leverage | — | 1.08× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $420.9M | ||
| Q4 25 | $2.0B | $462.1M | ||
| Q3 25 | $1.7B | $388.3M | ||
| Q2 25 | $1.7B | $480.3M | ||
| Q1 25 | $2.3B | $515.0M | ||
| Q4 24 | $1.8B | $567.1M | ||
| Q3 24 | $1.4B | $694.7M | ||
| Q2 24 | $2.1B | $462.7M |
| Q1 26 | — | $7.4B | ||
| Q4 25 | $9.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $10.4B | — | ||
| Q3 24 | $10.4B | — | ||
| Q2 24 | $10.4B | — |
| Q1 26 | — | $6.9B | ||
| Q4 25 | $6.1B | $6.9B | ||
| Q3 25 | $7.2B | $6.9B | ||
| Q2 25 | $7.3B | $6.9B | ||
| Q1 25 | $7.1B | $6.8B | ||
| Q4 24 | $7.0B | $6.5B | ||
| Q3 24 | $7.9B | $6.8B | ||
| Q2 24 | $7.6B | $6.4B |
| Q1 26 | — | $20.3B | ||
| Q4 25 | $20.1B | $20.7B | ||
| Q3 25 | $21.1B | $19.5B | ||
| Q2 25 | $21.0B | $19.0B | ||
| Q1 25 | $21.3B | $20.4B | ||
| Q4 24 | $25.8B | $19.0B | ||
| Q3 24 | $26.7B | $18.4B | ||
| Q2 24 | $26.3B | $16.9B |
| Q1 26 | — | 1.08× | ||
| 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 | — | $299.7M |
| Free Cash FlowOCF − Capex | $76.0M | — |
| FCF MarginFCF / Revenue | 2.8% | — |
| Capex IntensityCapex / Revenue | 5.1% | 0.0% |
| Cash ConversionOCF / Net Profit | — | 1.33× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $299.7M | ||
| Q4 25 | $584.0M | $643.5M | ||
| Q3 25 | $237.0M | $456.2M | ||
| Q2 25 | $217.0M | $372.9M | ||
| Q1 25 | $-193.0M | $272.2M | ||
| Q4 24 | $488.0M | $486.6M | ||
| Q3 24 | $253.0M | $336.6M | ||
| Q2 24 | $115.0M | $384.9M |
| Q1 26 | $76.0M | — | ||
| Q4 25 | — | $633.0M | ||
| Q3 25 | — | $421.5M | ||
| Q2 25 | — | $350.0M | ||
| Q1 25 | — | $259.5M | ||
| Q4 24 | — | $466.9M | ||
| Q3 24 | — | $310.7M | ||
| Q2 24 | — | $374.9M |
| Q1 26 | 2.8% | — | ||
| Q4 25 | — | 38.3% | ||
| Q3 25 | — | 26.9% | ||
| Q2 25 | — | 22.8% | ||
| Q1 25 | — | 17.1% | ||
| Q4 24 | — | 30.5% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 25.8% |
| Q1 26 | 5.1% | 0.0% | ||
| Q4 25 | — | 0.6% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | 0.7% |
| Q1 26 | — | 1.33× | ||
| Q4 25 | — | 3.33× | ||
| Q3 25 | — | 2.17× | ||
| Q2 25 | 2.38× | 2.06× | ||
| Q1 25 | -1.53× | 1.28× | ||
| Q4 24 | — | 1.96× | ||
| Q3 24 | 1.81× | 2.05× | ||
| Q2 24 | — | 2.02× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAX
Segment breakdown not available.
SSNC
| Technology-enabled services | $1.4B | 85% |
| License, maintenance and related | $239.8M | 15% |
