BAX Stock Analysis: Baxter International | NYSE
Medical Instruments & Supplies | NYSE, USA | Market Cap: 11.228m USD | 12M Return: -17.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 124M
EPS Trend: -88.2%
Qual. Beats: 0
Rev. Trend: -84.1%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Baxter International Inc. (NYSE: BAX) is a large-cap U.S. healthcare products company headquartered in Deerfield, Illinois, operating three segments: Medical Products & Therapies, Healthcare Systems & Technologies, and Pharmaceuticals. Its portfolio spans IV solutions and infusion systems, parenteral nutrition, generic injectables, inhaled anesthetics, surgical equipment and sealants, smart beds, patient monitoring technology, respiratory devices, and integrated operating room solutions, complemented by drug compounding services. Customers include hospitals, nursing homes, rehabilitation centers, ambulatory surgery centers, physicians offices, dialysis centers, and home-care patients, served through a mix of direct sales, independent distributors, drug wholesalers, and specialty pharmacy channels. The company also operates across Western Europe, Eastern Europe, the Middle East, Africa, Latin America, Asia, Canada, Japan, Australia, and New Zealand, and was incorporated in 1931.
As a diversified medical device and specialty pharmaceutical manufacturer, Baxters business model spans both durable capital equipment and consumable therapies, which can produce differing demand cycles: hospital capital purchases (such as smart beds, surgical hardware, and OR integration systems) tend to follow longer replacement and budgeting cycles, while IV solutions, infusion sets, and injectable drugs generate recurring volume tied to patient admissions and procedural volumes. The combination of regulated medical products and pharmaceutical manufacturing subjects the company to stringent quality, manufacturing, and approval standards typical of the healthcare equipment and specialty pharma industry.
- Vantive kidney care spinoff refocuses portfolio on hospital products and pharma
- Generic injectable competition pressures pharmaceuticals segment revenue growth
- Operational efficiency program targets margin expansion following spin completion
| Net Income: -1.10b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 2.70 > 1.0 |
| NWC/Revenue: 27.86% < 20% (prev 33.00%; Δ -5.13% < -1%) |
| CFO/TA 0.06 > 3% & CFO 1.25b > Net Income -1.10b |
| Net Debt (7.89b) to EBITDA (738.0m): 10.70 < 3 |
| Current Ratio: 1.85 > 1.5 & < 3 |
| Outstanding Shares: last quarter (515.0m) vs 12m ago 0.19% < -2% |
| Gross Margin: 30.11% > 18% (prev 36.06%; Δ -5.94% > 0.5%) |
| Asset Turnover: 55.02% > 50% (prev 50.56%; Δ 4.46% > 0%) |
| Interest Coverage Ratio: -0.81 > 6 (EBIT TTM -233.0m / Interest Expense TTM 287.0m) |
| A: 0.16 (Total Current Assets 6.85b - Total Current Liabilities 3.69b) / Total Assets 19.8b |
| B: 0.69 (Retained Earnings 13.7b / Total Assets 19.8b) |
| C: -0.01 (EBIT TTM -233.0m / Avg Total Assets 20.6b) |
| D: 0.44 (Book Value of Equity 6.04b / Total Liabilities 13.8b) |
| Altman-Z'' = 3.67 = AA |
| DSRI: 0.98 (Receivables 1.70b/1.65b, Revenue 11.3b/10.8b) |
| GMI: 1.20 (GM 36.06% / 30.11%) |
| AQI: 0.94 (AQ_t 0.49 / AQ_t-1 0.53) |
| SGI: 1.05 (Revenue 11.3b / 10.8b) |
| TATA: -0.12 (NI -1.10b - CFO 1.25b) / TA 19.8b) |
| Beneish M = -2.88 (Cap -4..+1) = A |
As of July 28, 2026, the stock is trading at USD 23.34 with a total of 5,445,196 shares traded. Over the past week, the price has changed by +5.75%, over one month by +5.99%, over three months by +26.30% and over the past year by -17.46%.
Current recommended Stop Loss: 22.40 (which is 4% or 1.2 ATR below the current price).
Baxter International has received a consensus analysts rating of 3.44. Therefore, it is recommended to hold BAX.
- StrongBuy: 4
- Buy: 2
- Hold: 11
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 22 | -6% |
P/E Forward = 11.6959
P/S = 0.9919
P/B = 1.8982
P/EG = 36.6767
Revenue TTM = 11.3b USD
EBIT TTM = -233.0m USD
EBITDA TTM = 738.0m USD
Long Term Debt = 8.62b USD (from longTermDebt, last quarter)
Short Term Debt = 842.0m USD (from shortTermDebt, last quarter)
Debt = 9.91b USD (from shortLongTermDebtTotal, last quarter) + Leases 224.0m
Net Debt = 7.89b USD (calculated: Debt 9.91b - CCE 2.02b)
Enterprise Value = 19.1b USD (11.2b + Debt 9.91b - CCE 2.02b)
Interest Coverage Ratio = -0.81 (Ebit TTM -233.0m / Interest Expense TTM 287.0m)
EV/FCF = 26.78x (Enterprise Value 19.1b / FCF TTM 714.0m)
FCF Yield = 3.73% (FCF TTM 714.0m / Enterprise Value 19.1b)
FCF Margin = 6.31% (FCF TTM 714.0m / Revenue TTM 11.3b)
Net Margin = -9.70% (Net Income TTM -1.10b / Revenue TTM 11.3b)
Gross Margin = 30.11% ((Revenue TTM 11.3b - Cost of Revenue TTM 7.91b) / Revenue TTM)
Gross Margin QoQ = 32.99% (prev 19.40%)
Tobins Q-Ratio = 0.96 (Enterprise Value 19.1b / Total Assets 19.8b)
Interest Expense / Debt = 2.90% (Interest Expense 287.0m / Debt 9.91b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -184.1m (EBIT -233.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.85 (Total Current Assets 6.85b / Total Current Liabilities 3.69b)
Debt / Equity = 1.64 (Debt 9.91b / totalStockholderEquity, last quarter 6.04b)
Debt / EBITDA = 10.70 (Net Debt 7.89b / EBITDA 738.0m)
Debt / FCF = 11.06 (Net Debt 7.89b / FCF TTM 714.0m)
Total Stockholder Equity = 6.68b (last 4 quarters mean from totalStockholderEquity)
RoA = -5.34% (Net Income -1.10b / Total Assets 19.8b)
RoE = -16.43% (Net Income TTM -1.10b / Total Stockholder Equity 6.68b)
RoCE = -1.52% (EBIT -233.0m / Capital Employed (Equity 6.68b + L.T.Debt 8.62b))
RoIC = -1.12% (negative operating profit) (NOPAT -184.1m / Invested Capital 16.4b)
WACC = 5.00% (E(11.2b)/V(21.1b) * Re(7.40%) + D(9.91b)/V(21.1b) * Rd(2.90%) * (1-Tc(0.21)))
Discount Rate = 7.40% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 90.88 | Cagr: 0.70%
[DCF] Terminal Value 77.97% ; FCFF base≈504.8m ; Y1≈578.7m ; Y5≈851.6m
[DCF] Fair Price = 9.53 (EV 12.8b - Net Debt 7.89b = Equity 4.92b / Shares 516.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -88.23 | EPS CAGR: -10.21% | SUE: 0.40 | # QB: 0
Revenue Correlation: -84.14 | Revenue CAGR: -9.70% | SUE: 0.14 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.37 | Chg30d=-0.60% | Revisions=-80% | Analysts=10
EPS next Quarter (2026-09-30): EPS=0.53 | Chg30d=+0.23% | Revisions=-13% | Analysts=10
EPS current Year (2026-12-31): EPS=1.92 | Chg30d=+0.07% | Revisions=+36% | GrowthEPS=-15.5% | GrowthRev=+1.0%
EPS next Year (2027-12-31): EPS=2.01 | Chg30d=-0.37% | Revisions=+0% | GrowthEPS=+4.6% | GrowthRev=+2.0%
[Analyst] Revisions Ratio: -27% (up=12, down=22)