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Side-by-side financial comparison of Baxter International (BAX) and Stanley Black & Decker (SWK). Click either name above to swap in a different company.
Stanley Black & Decker is the larger business by last-quarter revenue ($3.8B vs $3.0B, roughly 1.3× Baxter International). Stanley Black & Decker runs the higher net margin — 1.4% vs -37.9%, a 39.3% gap on every dollar of revenue. On growth, Baxter International posted the faster year-over-year revenue change (458.0% vs 0.1%). Over the past eight quarters, Stanley Black & Decker's revenue compounded faster (0.3% CAGR vs -9.0%).
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
Stanley Black & Decker, Inc., formerly known as The Stanley Works, is an American manufacturer of industrial tools and household hardware, and a provider of security products. Headquartered in the Greater Hartford city of New Britain, Connecticut, Stanley Black & Decker is the result of the merger of The Stanley Works and Black & Decker on March 12, 2010.
BAX vs SWK — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.0B | $3.8B |
| Net Profit | $-1.1B | $51.4M |
| Gross Margin | 19.4% | 31.4% |
| Operating Margin | -24.5% | — |
| Net Margin | -37.9% | 1.4% |
| Revenue YoY | 458.0% | 0.1% |
| Net Profit YoY | -120.3% | -43.6% |
| EPS (diluted) | $-2.21 | $0.34 |
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 | — | ||
| Q3 25 | $2.8B | $3.8B | ||
| Q2 25 | $2.8B | $3.9B | ||
| Q1 25 | $2.6B | $3.7B | ||
| Q4 24 | $533.0M | $3.7B | ||
| Q3 24 | $2.7B | $3.8B | ||
| Q2 24 | $3.8B | $4.0B | ||
| Q1 24 | $3.6B | $3.9B |
| Q4 25 | $-1.1B | — | ||
| Q3 25 | $-46.0M | $51.4M | ||
| Q2 25 | $91.0M | $101.9M | ||
| Q1 25 | $126.0M | $90.4M | ||
| Q4 24 | $-512.0M | $194.9M | ||
| Q3 24 | $140.0M | $91.1M | ||
| Q2 24 | $-314.0M | $-11.2M | ||
| Q1 24 | $37.0M | $19.5M |
| Q4 25 | 19.4% | — | ||
| Q3 25 | 33.5% | 31.4% | ||
| Q2 25 | 35.3% | 27.0% | ||
| Q1 25 | 32.8% | 29.9% | ||
| Q4 24 | 25.0% | 30.8% | ||
| Q3 24 | 38.3% | 29.9% | ||
| Q2 24 | 37.5% | 28.4% | ||
| Q1 24 | 38.6% | 28.6% |
| Q4 25 | -24.5% | — | ||
| Q3 25 | 6.1% | — | ||
| Q2 25 | 6.8% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | -25.5% | 3.4% | ||
| Q3 24 | 5.7% | 10.6% | ||
| Q2 24 | -5.0% | 9.5% | ||
| Q1 24 | 5.2% | 8.3% |
| Q4 25 | -37.9% | — | ||
| Q3 25 | -1.6% | 1.4% | ||
| Q2 25 | 3.2% | 2.6% | ||
| Q1 25 | 4.8% | 2.4% | ||
| Q4 24 | -96.1% | 5.2% | ||
| Q3 24 | 5.2% | 2.4% | ||
| Q2 24 | -8.2% | -0.3% | ||
| Q1 24 | 1.0% | 0.5% |
| Q4 25 | $-2.21 | — | ||
| Q3 25 | $-0.09 | $0.34 | ||
| Q2 25 | $0.18 | $0.67 | ||
| Q1 25 | $0.25 | $0.60 | ||
| Q4 24 | $-0.99 | $1.29 | ||
| Q3 24 | $0.27 | $0.60 | ||
| Q2 24 | $-0.62 | $-0.07 | ||
| Q1 24 | $0.07 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.0B | $268.3M |
| Total DebtLower is stronger | $9.5B | $5.3B |
| Stockholders' EquityBook value | $6.1B | $9.0B |
| Total Assets | $20.1B | $21.8B |
| Debt / EquityLower = less leverage | 1.55× | 0.59× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.7B | $268.3M | ||
| Q2 25 | $1.7B | $311.8M | ||
| Q1 25 | $2.3B | $344.8M | ||
| Q4 24 | $1.8B | $290.5M | ||
| Q3 24 | $1.4B | $298.7M | ||
| Q2 24 | $2.1B | $318.5M | ||
| Q1 24 | $3.0B | $476.6M |
| Q4 25 | $9.5B | — | ||
| Q3 25 | — | $5.3B | ||
| Q2 25 | — | $5.6B | ||
| Q1 25 | — | $5.6B | ||
| Q4 24 | $10.4B | $6.1B | ||
| Q3 24 | $10.4B | $6.1B | ||
| Q2 24 | $10.4B | $6.1B | ||
| Q1 24 | $11.1B | $6.1B |
| Q4 25 | $6.1B | — | ||
| Q3 25 | $7.2B | $9.0B | ||
| Q2 25 | $7.3B | $9.1B | ||
| Q1 25 | $7.1B | $8.8B | ||
| Q4 24 | $7.0B | $8.7B | ||
| Q3 24 | $7.9B | $8.9B | ||
| Q2 24 | $7.6B | $8.7B | ||
| Q1 24 | $8.2B | $8.9B |
| Q4 25 | $20.1B | — | ||
| Q3 25 | $21.1B | $21.8B | ||
| Q2 25 | $21.0B | $22.5B | ||
| Q1 25 | $21.3B | $22.5B | ||
| Q4 24 | $25.8B | $21.8B | ||
| Q3 24 | $26.7B | $22.5B | ||
| Q2 24 | $26.3B | $22.5B | ||
| Q1 24 | $27.8B | $23.9B |
| Q4 25 | 1.55× | — | ||
| Q3 25 | — | 0.59× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.63× | ||
| Q4 24 | 1.49× | 0.70× | ||
| Q3 24 | 1.33× | 0.69× | ||
| Q2 24 | 1.37× | 0.70× | ||
| Q1 24 | 1.36× | 0.69× |
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 | $221.2M |
| Free Cash FlowOCF − Capex | — | $155.3M |
| FCF MarginFCF / Revenue | — | 4.1% |
| Capex IntensityCapex / Revenue | — | 1.8% |
| Cash ConversionOCF / Net Profit | — | 4.30× |
| TTM Free Cash FlowTrailing 4 quarters | — | $369.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $584.0M | — | ||
| Q3 25 | $237.0M | $221.2M | ||
| Q2 25 | $217.0M | $214.3M | ||
| Q1 25 | $-193.0M | $-420.0M | ||
| Q4 24 | $488.0M | $679.1M | ||
| Q3 24 | $253.0M | $285.8M | ||
| Q2 24 | $115.0M | $573.0M | ||
| Q1 24 | $163.0M | $-431.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | $155.3M | ||
| Q2 25 | — | $134.7M | ||
| Q1 25 | — | $-485.0M | ||
| Q4 24 | — | $564.6M | ||
| Q3 24 | — | $199.3M | ||
| Q2 24 | — | $485.8M | ||
| Q1 24 | — | $-496.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | -13.0% | ||
| Q4 24 | — | 15.2% | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | — | 12.1% | ||
| Q1 24 | — | -12.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 2.2% | ||
| Q1 24 | — | 1.7% |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.30× | ||
| Q2 25 | 2.38× | 2.10× | ||
| Q1 25 | -1.53× | -4.65× | ||
| Q4 24 | — | 3.48× | ||
| Q3 24 | 1.81× | 3.14× | ||
| Q2 24 | — | — | ||
| Q1 24 | 4.41× | -22.10× |
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% |
SWK
| Tools And Outdoor Segment | $3.3B | 87% |
| Engineered Fastening Segment | $500.5M | 13% |
