# Baxter International Inc. (BAX) fundamentals

Data as of 2026-11-04. NYSE, United States. Sector: Healthcare / Medical Devices & Supplies. Price $25.49, market value $13.2 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Baxter International Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 1.1×**. Each dollar of revenue is priced at 1.1×.
- **Price / book: 2.0×**. The shares trade at 2.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 28.1×**. Enterprise value is 28.1× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.

## Profitability
- **Gross margin: 30.1%**. Baxter International Inc. keeps 30.1% of revenue after the direct cost of what it sells.
- **Operating margin: -1.9%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -8.5%**. The company reported a net loss over the last twelve months.
- **Return on equity: -15.6%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -1.3%**. Return on all capital, debt included, is -1.3%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -3.6%**. Each dollar of assets produces -3.6% of profit.

## Growth
- **Revenue growth (1 yr): 5.7%** (3-yr 3.8%/yr, 5-yr -0.7%/yr). Revenue grew 5.7% over the last year, against -0.7% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -47.2%**. Earnings per share fell 47.2%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -26.4%/yr**. Free cash flow has compounded at -26.4% a year over three years.

## Financial health
- **Debt to equity: 1.54**. Debt is 1.54 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 10.2×**. It would take 10.2 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Current ratio: 2.31** (quick 2.31). Current assets cover the next year's liabilities 2.31 times.
- **Altman Z-score: 1.74**. A Z-score of 1.74 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 0.16%** ($0.04 per share, trailing). Baxter International Inc. yields 0.16%, a modest yield more typical of a growth-oriented payer.
- **Dividend growth (5 yr): -11.4%/yr** (1-yr -50.0%). The dividend has not grown over five years.

## Analyst view
- **Analyst consensus: hold** (12 analysts). 12 analysts cover Baxter International Inc.; the consensus is hold, with an average price target of $27.08 (+6% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 40.2%** (YTD 33.5%, 3-mo -10.1%). The shares are up 40.2% over twelve months including dividends.
- **From 52-week high: -15.0%** (62.0% above the low). Trading 15% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 56**. An RSI of 56 is neutral.
- **Beta (1 yr): 1.08** (volatility 42%). Beta of 1.08 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=BAX · Page: https://foliofundamentals.com/stocks/bax

Not investment advice.