Baxter International Inc (BAX)
UndervaluedFundamental
41
Price
$24.00
Market Cap
$12.14B
Part 1 · What the company is worth
Overview
Baxter International Inc., through its subsidiaries, provides a portfolio of healthcare products in the United States. The company operates through three segments: Medical Products & Therapies, Healthcare Systems & Technologies, and Pharmaceuticals. It offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; inhaled anesthetics; generic injectable pharmaceuticals; surgical hemostat and sealant products; advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space comprising operating room integration technologies, precision positioning devices, and other accessories. The company also provides specialty injectable pharmaceuticals, inhaled anesthetics, and drug compounding services. Its products are used in hospitals, nursing homes, rehabilitation centers, ambulatory surgery centers, doctors' offices, kidney dialysis centers, and patients at home under physician supervision. The company sells its products through direct sales force, independent distributors, drug wholesalers, and specialty pharmacy or other alternate site providers. It operates in Eastern Europe, the Middle East, Africa, Latin America, Asia, Western Europe, Canada, Japan, Australia, and New Zealand. Baxter International Inc. was incorporated in 1931 and is headquartered in Deerfield, Illinois.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated on September 18, 2026 with claude-haiku-4-5 — shared with all users
ICU Medical sells IV solutions, infusion pumps and administration sets to the same US hospital pharmacies and supply contracts that Baxter's Medical Products & Therapies segment depends on.
BD competes head-on with Baxter for hospital infusion contracts with its Alaris smart pumps, IV sets and injectable drug delivery lines.
Stryker is the closest rival to Baxter's Hillrom business for smart hospital beds, patient monitoring and operating-room equipment bought by the same acute-care hospitals.
The German family-owned group offers the same sterile IV fluids, infusion pumps and parenteral nutrition range, and is Baxter's main rival for European hospital tenders.
Fresenius Kabi competes with Baxter both in IV fluids and parenteral nutrition and in specialty injectable generics sold to hospital pharmacies.
Balance Sheet & Liquidity
Revenue
$11.47B
Trailing 12 months (through 6/30/2026)
Net Income
$-1.06B
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$332M
Total Equity
$6.13B
Total Liabilities
$13.95B
Current Ratio
1.95
Interest Coverage
0.93
Debt/EBITDA
0.31
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$64.96
Current Price
$24.00
Margin of Safety
+63.1%
Fair Value Range
$42.22 - $87.69
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
-
ROE
-15.6%
P/B Ratio
2.00
P/FCF
36.58
Gross Margin
30.1%
ROIC
-1.3%
Profitability Radar
Value Creation (Economic Moat)
ROIC
-1.3%
WACC
8.3%
ROIC − WACC
-9.6 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamental Analysis Criteria
Passed (10)
- Gross Margin 30.1%
- P/B Ratio 2.00
- Debt/Equity ratio
- Positive Free Cash Flow
- Current Ratio
- Debt/EBITDA
- DCF valuation (Undervalued)
- Earnings Surprise avg 15.7%
- Share Dilution 0.1%
- Piotroski F-Score 6/9
Failed (13)
- EPS shows upward trend
- Price CAGR -6.03%
- ROIC -1.3%
- P/FCF 36.58
- Operating Margin -2.4%
- CapEx intensity
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- ROE -16.6%
- Revenue Growth 5Y -0.8%
- Analyst Consensus 25% Buy
- Net Margin Trend -9.3% vs -1.4%
Unavailable (4)
- Dividend Payout NaN%
- Price below Graham Number
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
Low quality: investigate accounting
Share Dilution
Share count is stable
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Andrew P. Hider | CEO, President, Interim Group President of Medical Products & Therapies and Director | 48 |
| Mr. David S. Rosenbloom | Executive VP & General Counsel | 65 |
| Ms. Maria Soriano | Group President of Infusion Therapies & Platforms | - |
| Ms. Anita A. Zielinski | Interim CFO, Senior VP, Chief Accounting Officer & Controller | 52 |
| Mr. Charles Patel | Senior VP & Chief Information Officer | 55 |
| Mr. Kevin Moran | Vice President & Head of Investor Relations | - |
| Ms. Stacey Eisen | SVP, Chief Communications Officer & Corporate Marketing and President of Baxter Foundation | - |
| Ms. Cynthia Carlisle | Executive VP & Chief Human Resources Officer | 50 |
| Mr. James W. Borzi | Executive VP & Chief Supply Chain Officer | 62 |
| Mr. Steven P. Wallace | President of Advanced Surgery & Commercial Excellence | 45 |
Audit Risk
3
Board Risk
2
Compensation Risk
9
Shareholder Rights Risk
2
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-12
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-07-30
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-08-19
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for BAX, sourced from Markets Gazette.