Baxter International Inc.

Baxter International Inc.

BAXยทNYSE

$18.54

-1.3%
HealthcareMedical - Instruments & Supplies

Baxter International Inc., through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit. It also provides connected care solutions, including devices, software, communications, and integration technologies; integrated patient monitoring and diagnostic technologies to help diagnose, treat, and manage a various illness and diseases, including respiratory therapy, cardiology, vision screening, and physical assessment; surgical video technologies, tables, lights, pendants, precision positioning devices and other accessories. In addition, the company offers contracted services to various pharmaceutical and biopharmaceutical companies. Its products are used in hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, doctors' offices, and patients at home under physician supervision. The company sells its products through direct sales force, as well as through independent distributors, drug wholesalers, and specialty pharmacy or other alternate site providers in approximately 100 countries. It has an agreement with Celerity Pharmaceutical, LLC to develop acute care generic injectable premix and oncolytic molecules. Baxter International Inc. was incorporated in 1931 and is headquartered in Deerfield, Illinois.

At a Glance

Live Snapshot
Market Cap$9.58B
EPS-1.7500
P/E Ratio-10.59
Earnings Date07/30/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

Medium confidence

Valuation multiple is compressed (P/E -10.6).

Valuation inputs: P/E -10.6, earnings yield N/A, momentum -1.3%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE -15.6%, ROIC -1.8%).

Profitability stack: net margin -8.5%, ROE -15.6%, ROIC -1.8%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile is elevated and scenario stress-testing is essential.

Risk factors: liabilities/assets +69.6%, momentum -1.3%, net margin -8.5%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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Baxter International Inc. Market vs Earnings Trajectory

BAX ยท NYSE

Loading price and EPS data...

Baxter International Inc.

Baxter International Inc. Fair Value Envelope

BAX ยท NYSE

Our analysis suggests that BAX has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $18.54, this represents a potential HIDDEN relative to our calculated worth for Baxter International Inc..

Intrinsic Value
Current Price: $18.54
3Y-64.0%
5Y-181.0%
10Y-119.0%
3Y+12.0%
5Y-4.0%
10Y+11.0%
3Y-61.0%
5Y-187.0%
10Y-119.0%
3Y-30.0%
5Y-55.0%
10Y-49.0%
3Y-44.0%
5Y-72.0%
10Y-65.0%
3Y-29.0%
5Y-
10Y+29.0%
Baxter International Inc.

Baxter International Inc. Profit Bridge

BAX ยท NYSE
Revenue11.24B
Cost of Goods Sold (7.87B)
Gross Profit3.38B
Operating Expenses (3.69B)
Operating Income-308.00M
Interest Expense (290.00M)
Other Income/Expense-197.00M
Pretax Income-505.00M
Income Tax (395.00M)
Net Income-957.00M
Net Income
-957.00M

Profitability Analysis

Gross Margin

30.1%

Moderate margins typical of competitive industries. Monitor for pricing pressure or rising costs.

Operating Margin

-2.7%

Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.

Net Profit Margin

-8.5%

Net losses indicate the company is burning cash. Sustainability depends on path to profitability.

Profitability Insight

Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.

30.05%
Gross Profit Margin
-20%
3Y-15.0%
5Y-24.0%
10Y-26.0%
-2.74%
Operating Profit Margin
-2181%
3Y-90.0%
5Y-120.0%
10Y-137.0%
-8.51%
Net Profit Margin
39%
3Y-65.0%
5Y-190.0%
10Y-117.0%
-15.61%
Return on Equity
68%
3Y-63.0%
5Y-223.0%
10Y-126.0%
-4.77%
Return on Assets
90%
3Y-45.0%
5Y-187.0%
10Y-115.0%
-1.79%
Return on Invested Capital
-2934%
3Y-84.0%
5Y-122.0%
10Y-131.0%
BAX

Baxter International Inc. Cash Conversion Engine

BAX ยท NYSE
Net Income-957.00M
Depreciation & Amortization981.00M
Stock-Based Compensation117.00M
Change in Working Capital-108.00M
Others735.00M
Capital Expenditures-522.00M
Free Cash Flow323.00M

Cash Flow Quality Analysis

FCF Conversion Rate

-33.8%

Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.

CapEx Intensity

61.8%

Very high capital intensity consumes most operating cash flow. Limited flexibility for dividends or debt reduction.

FCF Growth Trend

-42.2%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

-$108.00M

Moderate working capital outflow. Typical for growing businesses, but ensure it's supporting revenue growth, not inefficiency.

Cash Flow Quality Insight

Deteriorating cash generation: Both declining FCF and weak conversion rate signal fundamental challenges. Investigate margin pressure, rising costs, or working capital issues.

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Baxter International Inc. Funding & Solvency Profile

BAX ยท NYSE
Cash & Cash Equivalents2.02B
Net Receivables1.70B
Inventory2.32B
Other Current Assets816.00M
Total Current Assets7 B
Property, Plant & Equipment3.19B
Goodwill & Intangible Assets9.12B
Long-Term Investments113.00M
Other Non-Current Assets579.00M
Total Non-Current Assets4 B
Total Assets
19.85B

Financial Health Analysis

Current Ratio

1.85x

Strong liquidity. The company has adequate resources to meet short-term liabilities.

Debt-to-Equity Ratio

2.30x

High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.

Working Capital

3 B

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

35% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

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Baxter International Inc. Street Expectations Map

BAX ยท NYSE

Wall Street analysts project that BAX stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 20.71, with estimates ranging from a low of 17.00 to a high of 27.00.

Lowest Target
17.00
-8.31%
Consensus Target
20.71
11.70%
Highest Target
27.00
45.63%

The consensus 1-year price target stands at 20.71, with estimates ranging from a low of 17.00 to a high of 27.00.

Analyst Consensus Analysis

Upside Potential

+11.7%

Moderate upside. Analysts expect positive returns but with limited margin of safety. Consider entry timing.

Analyst Agreement

48.3% spread

Mixed analyst views. Wide target range suggests differing opinions on key value drivers, growth prospects, or risk factors.

Risk-Reward Profile

5.49x

Favorable risk-reward. Potential upside significantly exceeds downside risk, offering asymmetric return profile attractive for risk-tolerant investors.

Analyst Conviction

Moderate

Neutral sentiment. Fair value pricing with moderate agreement suggests wait-and-see approach or catalyst-driven opportunity.

Market Sentiment Insight

Asymmetric upside: Strong return potential with favorable risk-reward profile. The limited downside relative to upside makes this an attractive risk-adjusted opportunity for growth-oriented portfolios.

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Baxter International Inc. Insider Positioning

BAX ยท NYSE

During the last 12 months, there has been no insider trading activity reported for BAX.

3 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

No buying activity

Top Sellers

No selling activity

Insider Activity Analysis

Net Insider Sentiment

Neutral

No insider trading activity reported. This could indicate blackout periods, lack of conviction, or regulatory restrictions.

Insider Participation

No Activity

No insider trading activity reported from any insiders in the past year.

0.06%
Dividend Yield
-93%
3Y-92.0%
5Y-80.0%
10Y-77.0%
ย 

bax Dividend History

BAX
10Y CAGR 23%
Latest $0.01
Annual $0.37
Stable dividend payments
Last Period: +0%