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Side-by-side financial comparison of Baxter International (BAX) and Molson Coors Beverage Company (TAP). Click either name above to swap in a different company.
Molson Coors Beverage Company is the larger business by last-quarter revenue ($2.7B vs $2.7B, roughly 1.0× Baxter International). Molson Coors Beverage Company runs the higher net margin — 5.5% vs -0.6%, a 6.1% gap on every dollar of revenue. On growth, Baxter International posted the faster year-over-year revenue change (3.0% vs 2.0%). Baxter International produced more free cash flow last quarter ($76.0M vs $-212.9M). Over the past eight quarters, Baxter International's revenue compounded faster (-15.8% CAGR vs -15.8%).
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
Molson Coors Beverage Company is a Canadian-American multinational drink and brewing company headquartered in Chicago, Illinois and Montreal, Quebec.
BAX vs TAP — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $2.7B |
| Net Profit | $-15.0M | $150.1M |
| Gross Margin | 33.0% | 33.0% |
| Operating Margin | 2.4% | — |
| Net Margin | -0.6% | 5.5% |
| Revenue YoY | 3.0% | 2.0% |
| Net Profit YoY | — | 25.0% |
| EPS (diluted) | $-0.03 | $0.80 |
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 | $2.7B | ||
| Q4 25 | $3.0B | $3.1B | ||
| Q3 25 | $2.8B | $3.5B | ||
| Q2 25 | $2.8B | $3.7B | ||
| Q1 25 | $2.6B | $2.7B | ||
| Q4 24 | $533.0M | $3.2B | ||
| Q3 24 | $2.7B | $3.6B | ||
| Q2 24 | $3.8B | $3.8B |
| Q1 26 | $-15.0M | $150.1M | ||
| Q4 25 | $-1.1B | $238.3M | ||
| Q3 25 | $-46.0M | $-2.9B | ||
| Q2 25 | $91.0M | $428.7M | ||
| Q1 25 | $126.0M | $121.0M | ||
| Q4 24 | $-512.0M | $287.8M | ||
| Q3 24 | $140.0M | $199.8M | ||
| Q2 24 | $-314.0M | $427.0M |
| Q1 26 | 33.0% | 33.0% | ||
| Q4 25 | 19.4% | 31.0% | ||
| Q3 25 | 33.5% | 33.7% | ||
| Q2 25 | 35.3% | 34.3% | ||
| Q1 25 | 32.8% | 31.6% | ||
| Q4 24 | 25.0% | 32.0% | ||
| Q3 24 | 38.3% | 33.4% | ||
| Q2 24 | 37.5% | 34.6% |
| Q1 26 | 2.4% | — | ||
| Q4 25 | -24.5% | 10.4% | ||
| Q3 25 | 6.1% | -98.5% | ||
| Q2 25 | 6.8% | 15.6% | ||
| Q1 25 | 2.2% | 6.9% | ||
| Q4 24 | -25.5% | 12.0% | ||
| Q3 24 | 5.7% | 12.5% | ||
| Q2 24 | -5.0% | 15.6% |
| Q1 26 | -0.6% | 5.5% | ||
| Q4 25 | -37.9% | 7.6% | ||
| Q3 25 | -1.6% | -84.0% | ||
| Q2 25 | 3.2% | 11.5% | ||
| Q1 25 | 4.8% | 4.5% | ||
| Q4 24 | -96.1% | 8.9% | ||
| Q3 24 | 5.2% | 5.5% | ||
| Q2 24 | -8.2% | 11.1% |
| Q1 26 | $-0.03 | $0.80 | ||
| Q4 25 | $-2.21 | $1.32 | ||
| Q3 25 | $-0.09 | $-14.79 | ||
| Q2 25 | $0.18 | $2.13 | ||
| Q1 25 | $0.25 | $0.59 | ||
| Q4 24 | $-0.99 | $1.39 | ||
| Q3 24 | $0.27 | $0.96 | ||
| Q2 24 | $-0.62 | $2.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $382.6M |
| Total DebtLower is stronger | — | $3.8B |
| Stockholders' EquityBook value | — | $10.3B |
| Total Assets | — | $22.4B |
| Debt / EquityLower = less leverage | — | 0.38× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $382.6M | ||
| Q4 25 | $2.0B | $896.5M | ||
| Q3 25 | $1.7B | $950.2M | ||
| Q2 25 | $1.7B | $613.8M | ||
| Q1 25 | $2.3B | $412.7M | ||
| Q4 24 | $1.8B | $969.3M | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $2.1B | $1.6B |
| Q1 26 | — | $3.8B | ||
| Q4 25 | $9.5B | $6.3B | ||
| Q3 25 | — | $6.3B | ||
| Q2 25 | — | $6.3B | ||
| Q1 25 | — | $6.2B | ||
| Q4 24 | $10.4B | $6.1B | ||
| Q3 24 | $10.4B | $6.2B | ||
| Q2 24 | $10.4B | $7.0B |
| Q1 26 | — | $10.3B | ||
| Q4 25 | $6.1B | $10.2B | ||
| Q3 25 | $7.2B | $10.3B | ||
| Q2 25 | $7.3B | $13.4B | ||
| Q1 25 | $7.1B | $13.1B | ||
| Q4 24 | $7.0B | $13.1B | ||
| Q3 24 | $7.9B | $13.3B | ||
| Q2 24 | $7.6B | $13.2B |
| Q1 26 | — | $22.4B | ||
| Q4 25 | $20.1B | $22.7B | ||
| Q3 25 | $21.1B | $22.9B | ||
| Q2 25 | $21.0B | $26.8B | ||
| Q1 25 | $21.3B | $25.9B | ||
| Q4 24 | $25.8B | $26.1B | ||
| Q3 24 | $26.7B | $26.6B | ||
| Q2 24 | $26.3B | $27.4B |
| Q1 26 | — | 0.38× | ||
| Q4 25 | 1.55× | 0.61× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | 1.49× | 0.47× | ||
| Q3 24 | 1.33× | 0.47× | ||
| Q2 24 | 1.37× | 0.53× |
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 | — | — |
| Free Cash FlowOCF − Capex | $76.0M | $-212.9M |
| FCF MarginFCF / Revenue | 2.8% | -7.8% |
| Capex IntensityCapex / Revenue | 5.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $584.0M | $540.7M | ||
| Q3 25 | $237.0M | $616.1M | ||
| Q2 25 | $217.0M | $718.3M | ||
| Q1 25 | $-193.0M | $-90.7M | ||
| Q4 24 | $488.0M | $494.5M | ||
| Q3 24 | $253.0M | $521.2M | ||
| Q2 24 | $115.0M | $869.2M |
| Q1 26 | $76.0M | $-212.9M | ||
| Q4 25 | — | $357.8M | ||
| Q3 25 | — | $483.0M | ||
| Q2 25 | — | $555.0M | ||
| Q1 25 | — | $-328.0M | ||
| Q4 24 | — | $383.4M | ||
| Q3 24 | — | $350.4M | ||
| Q2 24 | — | $691.7M |
| Q1 26 | 2.8% | -7.8% | ||
| Q4 25 | — | 11.4% | ||
| Q3 25 | — | 13.9% | ||
| Q2 25 | — | 14.8% | ||
| Q1 25 | — | -12.2% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 9.7% | ||
| Q2 24 | — | 18.0% |
| Q1 26 | 5.1% | — | ||
| Q4 25 | — | 5.9% | ||
| Q3 25 | — | 3.8% | ||
| Q2 25 | — | 4.4% | ||
| Q1 25 | — | 8.8% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | 4.7% | ||
| Q2 24 | — | 4.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.38× | 1.68× | ||
| Q1 25 | -1.53× | -0.75× | ||
| Q4 24 | — | 1.72× | ||
| Q3 24 | 1.81× | 2.61× | ||
| Q2 24 | — | 2.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
