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Side-by-side financial comparison of Baxter International (BAX) and V F CORP (VFC). Click either name above to swap in a different company.
V F CORP is the larger business by last-quarter revenue ($2.9B vs $2.7B, roughly 1.1× Baxter International). V F CORP runs the higher net margin — 10.5% vs -0.6%, a 11.0% gap on every dollar of revenue. On growth, Baxter International posted the faster year-over-year revenue change (3.0% vs 1.5%). V F CORP produced more free cash flow last quarter ($977.9M vs $76.0M). Over the past eight quarters, V F CORP's revenue compounded faster (10.1% CAGR vs -15.8%).
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
The F. W. Woolworth Company was a retail company and one of the pioneers of the five-and-dime store. It was among the most successful American and international five-and-dime businesses, setting trends and creating the modern retail model that stores worldwide follow today.
BAX vs VFC — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $2.9B |
| Net Profit | $-15.0M | $300.8M |
| Gross Margin | 33.0% | 56.6% |
| Operating Margin | 2.4% | 10.1% |
| Net Margin | -0.6% | 10.5% |
| Revenue YoY | 3.0% | 1.5% |
| Net Profit YoY | — | 79.3% |
| EPS (diluted) | $-0.03 | $0.76 |
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 | $2.9B | ||
| Q3 25 | $2.8B | $2.8B | ||
| Q2 25 | $2.8B | $1.8B | ||
| Q1 25 | $2.6B | $2.0B | ||
| Q4 24 | $533.0M | $2.8B | ||
| Q3 24 | $2.7B | $2.8B | ||
| Q2 24 | $3.8B | $1.9B |
| Q1 26 | $-15.0M | — | ||
| Q4 25 | $-1.1B | $300.8M | ||
| Q3 25 | $-46.0M | $189.8M | ||
| Q2 25 | $91.0M | $-116.4M | ||
| Q1 25 | $126.0M | $-150.8M | ||
| Q4 24 | $-512.0M | $167.8M | ||
| Q3 24 | $140.0M | $52.2M | ||
| Q2 24 | $-314.0M | $-258.9M |
| Q1 26 | 33.0% | — | ||
| Q4 25 | 19.4% | 56.6% | ||
| Q3 25 | 33.5% | 52.2% | ||
| Q2 25 | 35.3% | 53.9% | ||
| Q1 25 | 32.8% | 52.7% | ||
| Q4 24 | 25.0% | 56.3% | ||
| Q3 24 | 38.3% | 52.2% | ||
| Q2 24 | 37.5% | 52.0% |
| Q1 26 | 2.4% | — | ||
| Q4 25 | -24.5% | 10.1% | ||
| Q3 25 | 6.1% | 11.2% | ||
| Q2 25 | 6.8% | -4.9% | ||
| Q1 25 | 2.2% | 2.2% | ||
| Q4 24 | -25.5% | 8.0% | ||
| Q3 24 | 5.7% | 9.9% | ||
| Q2 24 | -5.0% | -12.6% |
| Q1 26 | -0.6% | — | ||
| Q4 25 | -37.9% | 10.5% | ||
| Q3 25 | -1.6% | 6.8% | ||
| Q2 25 | 3.2% | -6.6% | ||
| Q1 25 | 4.8% | -7.5% | ||
| Q4 24 | -96.1% | 5.9% | ||
| Q3 24 | 5.2% | 1.9% | ||
| Q2 24 | -8.2% | -13.6% |
| Q1 26 | $-0.03 | — | ||
| Q4 25 | $-2.21 | $0.76 | ||
| Q3 25 | $-0.09 | $0.48 | ||
| Q2 25 | $0.18 | $-0.30 | ||
| Q1 25 | $0.25 | $-0.37 | ||
| Q4 24 | $-0.99 | $0.43 | ||
| Q3 24 | $0.27 | $0.13 | ||
| Q2 24 | $-0.62 | $-0.67 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.5B |
| Total DebtLower is stronger | — | $3.6B |
| Stockholders' EquityBook value | — | $1.8B |
| Total Assets | — | $10.4B |
| Debt / EquityLower = less leverage | — | 1.99× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $1.5B | ||
| Q3 25 | $1.7B | $419.1M | ||
| Q2 25 | $1.7B | $642.4M | ||
| Q1 25 | $2.3B | $429.4M | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $1.4B | $492.2M | ||
| Q2 24 | $2.1B | $637.4M |
| Q1 26 | — | — | ||
| Q4 25 | $9.5B | $3.6B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.6B | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | $10.4B | $3.9B | ||
| Q3 24 | $10.4B | $4.0B | ||
| Q2 24 | $10.4B | $3.9B |
| Q1 26 | — | — | ||
| Q4 25 | $6.1B | $1.8B | ||
| Q3 25 | $7.2B | $1.5B | ||
| Q2 25 | $7.3B | $1.3B | ||
| Q1 25 | $7.1B | $1.5B | ||
| Q4 24 | $7.0B | $1.7B | ||
| Q3 24 | $7.9B | $1.4B | ||
| Q2 24 | $7.6B | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | $20.1B | $10.4B | ||
| Q3 25 | $21.1B | $10.6B | ||
| Q2 25 | $21.0B | $10.2B | ||
| Q1 25 | $21.3B | $9.4B | ||
| Q4 24 | $25.8B | $10.6B | ||
| Q3 24 | $26.7B | $12.2B | ||
| Q2 24 | $26.3B | $11.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.55× | 1.99× | ||
| Q3 25 | — | 2.40× | ||
| Q2 25 | — | 2.76× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | 1.49× | 2.31× | ||
| Q3 24 | 1.33× | 2.86× | ||
| Q2 24 | 1.37× | 2.84× |
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 | — | $1.0B |
| Free Cash FlowOCF − Capex | $76.0M | $977.9M |
| FCF MarginFCF / Revenue | 2.8% | 34.0% |
| Capex IntensityCapex / Revenue | 5.1% | 1.1% |
| Cash ConversionOCF / Net Profit | — | 3.36× |
| TTM Free Cash FlowTrailing 4 quarters | — | $357.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $584.0M | $1.0B | ||
| Q3 25 | $237.0M | $-227.0M | ||
| Q2 25 | $217.0M | $-145.5M | ||
| Q1 25 | $-193.0M | $-171.1M | ||
| Q4 24 | $488.0M | $918.1M | ||
| Q3 24 | $253.0M | $-301.6M | ||
| Q2 24 | $115.0M | $19.8M |
| Q1 26 | $76.0M | — | ||
| Q4 25 | — | $977.9M | ||
| Q3 25 | — | $-253.5M | ||
| Q2 25 | — | $-173.7M | ||
| Q1 25 | — | $-193.0M | ||
| Q4 24 | — | $899.7M | ||
| Q3 24 | — | $-322.4M | ||
| Q2 24 | — | $-5.4M |
| Q1 26 | 2.8% | — | ||
| Q4 25 | — | 34.0% | ||
| Q3 25 | — | -9.0% | ||
| Q2 25 | — | -9.9% | ||
| Q1 25 | — | -9.6% | ||
| Q4 24 | — | 31.7% | ||
| Q3 24 | — | -11.7% | ||
| Q2 24 | — | -0.3% |
| Q1 26 | 5.1% | — | ||
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.36× | ||
| Q3 25 | — | -1.20× | ||
| Q2 25 | 2.38× | — | ||
| Q1 25 | -1.53× | — | ||
| Q4 24 | — | 5.47× | ||
| Q3 24 | 1.81× | -5.78× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAX
Segment breakdown not available.
VFC
| Outdoor | $1.9B | 67% |
| Sales Channel Through Intermediary | $813.4M | 28% |
| Other | $136.3M | 5% |
