BAX Stock Analysis: Baxter International | NYSE

IV Therapy, Infusion Systems, Surgical Equipment, Pharmaceuticals

Total Rating 56

Safety 91

Buy Signal -0.10

Medical Instruments & Supplies
Industry Rotation: +4.2

Market Cap: 12.4B
Avg Turnover: 170M

Risk 3d forecast

Volatility35.3%

VaR 5^th Pctl5.50%

VaR vs Median-4.68%

Reward TTM

Sharpe Ratio0.31

Rel. Str. IBD76.9

Rel. Str. Peer Group69.2

Character TTM

Beta0.601

Beta Downside0.306

Hurst Exponent0.482

Drawdowns 3y

Max DD62.43%

CAGR/Max DD-0.11

CAGR/Mean DD-0.23

EPS (Earnings per Share)

EPS CAGR: -10.96%
EPS Trend: -89.8%

Last SUE: 1.58
Qual. Beats: 1

Revenue

Rev. CAGR: -6.79%
Rev. Trend: -72.4%

Last SUE: 0.31
Qual. Beats: 0

Warnings

High Debt/EBITDA With Thin Interest Coverage

Interest Coverage Ratio Critical

Below Avwap Earnings

Tailwinds

No distinct edge detected

Seasonality 11.7 years of data

Jan +3.6% 34

Feb +2.3% 32

Mar +0.5% 17

Apr +4.2% 19

May -1.0% 17

Jun +0.1% 7

Jul -0.6% 15

Aug +0.4% 15

Sep -2.1% 43

Oct -5.3% 42

Nov +1.1% 2

Dec -0.8% 11

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.

Description: BAX Baxter International

Baxter International Inc. (NYSE: BAX) is a U.S.-based large-cap healthcare company that operates through three segments: Medical Products & Therapies, Healthcare Systems & Technologies, and Pharmaceuticals. Its diversified portfolio includes IV solutions, infusion systems, parenteral nutrition therapies, inhaled anesthetics, generic injectable pharmaceuticals, surgical hemostats and sealants, advanced surgical equipment, smart bed systems, patient monitoring and diagnostic technologies, and respiratory health devices. The company also offers specialty injectable pharmaceuticals, inhaled anesthetics, and drug compounding services.

Founded in 1931 and headquartered in Deerfield, Illinois, Baxter serves a broad range of care settings, including hospitals, nursing homes, rehabilitation centers, ambulatory surgery centers, doctors offices, kidney dialysis centers, and patients receiving care at home under physician supervision. It distributes its products through direct sales, independent distributors, drug wholesalers, and specialty pharmacy or alternate-site providers, with operations spanning Eastern Europe, the Middle East, Africa, Latin America, Asia, Western Europe, Canada, Japan, Australia, and New Zealand.

The medical devices and healthcare equipment sector is highly regulated and benefits from long product lifecycles and recurring demand tied to hospital admissions and surgical volumes, while the pharmaceutical injectables segment faces shorter product cycles and more direct competition from generic manufacturers. Baxters blend of equipment, consumables, and pharmaceuticals provides both capital-sale and recurring revenue exposure across the continuum of care.

Headlines to Watch Out For

Vantive renal spinoff targets sharper margin profile
IV solutions pricing supports Medical Products segment growth
Hillrom integration synergies lift Healthcare Systems margins

Piotroski VR-10 (Strict) 4.5

Net Income: -1.06b TTM > 0 and > 6% of Revenue
FCF/TA: 0.03 > 0.02 and ΔFCF/TA 1.84 > 1.0
NWC/Revenue: 29.63% < 20% (prev 35.00%; Δ -5.37% < -1%)
CFO/TA 0.07 > 3% & CFO 1.32b > Net Income -1.06b
Net Debt (7.72b) to EBITDA (750.0m): 10.30 < 3
Current Ratio: 1.95 > 1.5 & < 3
Outstanding Shares: last quarter (518.0m) vs 12m ago 0.78% < -2%
Gross Margin: 30.08% > 18% (prev 35.31%; Δ -5.23% > 0.5%)
Asset Turnover: 56.17% > 50% (prev 51.73%; Δ 4.45% > 0%)
Interest Coverage Ratio: -0.70 > 6 (EBIT TTM -203.0m / Interest Expense TTM 292.0m)

Altman Z'' 3.81

A: 0.17 (Total Current Assets 6.99b - Total Current Liabilities 3.59b) / Total Assets 19.8b
B: 0.70 (Retained Earnings 13.8b / Total Assets 19.8b)
C: -0.01 (EBIT TTM -203.0m / Avg Total Assets 20.4b)
D: 0.46 (Book Value of Equity 6.21b / Total Liabilities 13.6b)
Altman-Z'' = 3.81 = AA

Beneish M -2.90

DSRI: 0.99 (Receivables 1.86b/1.77b, Revenue 11.5b/10.9b)
GMI: 1.17 (GM 35.31% / 30.08%)
AQI: 0.91 (AQ_t 0.49 / AQ_t-1 0.53)
SGI: 1.05 (Revenue 11.5b / 10.9b)
TATA: -0.12 (NI -1.06b - CFO 1.32b) / TA 19.8b)
Beneish M = -2.90 (Cap -4..+1) = A

What is the price of BAX shares?

As of October 10, 2026, the stock is trading at USD 24.35 with a total of 3,011,393 shares traded. Over the past week, the price has changed by +3.66%, over one month by -0.16%, over three months by +8.46% and over the past year by +8.38%.

Current recommended Stop Loss: 22.50 (which is 7.6% or 2.6 ATR below the current price).

Is BAX a buy, sell or hold?

Baxter International has received a consensus analysts rating of 3.31. Therefore, it is recommended to hold BAX.

StrongBuy: 2
Buy: 0
Hold: 11
Sell: 0
StrongSell: 0

What are the forecasts/targets for the BAX price?

Analysts Target Price	27.9	14.7%

Baxter International (BAX) - Fundamental Data Overview as of 09 October 2026

Market Cap USD = 12.4b (12.4b USD * 1.0 USD.USD)
P/E Forward = 11.5741
P/S = 1.0804
P/B = 1.9727
P/EG = 36.6767
Revenue TTM = 11.5b USD
EBIT TTM = -203.0m USD
EBITDA TTM = 750.0m USD
Long Term Debt = 8.62b USD (from longTermDebt, last quarter)
Short Term Debt = 844.0m USD (from shortTermDebt, last quarter)
Debt = 9.88b USD (from shortLongTermDebtTotal, last quarter) + Leases 208.0m
Net Debt = 7.72b USD (calculated: Debt 9.88b - CCE 2.15b)
Enterprise Value = 20.1b USD (12.4b + Debt 9.88b - CCE 2.15b)
Interest Coverage Ratio = -0.70 (Ebit TTM -203.0m / Interest Expense TTM 292.0m)
EV/FCF = 29.67x (Enterprise Value 20.1b / FCF TTM 678.0m)
FCF Yield = 3.37% (FCF TTM 678.0m / Enterprise Value 20.1b)
FCF Margin = 5.91% (FCF TTM 678.0m / Revenue TTM 11.5b)
Net Margin = -9.27% (Net Income TTM -1.06b / Revenue TTM 11.5b)
Gross Margin = 30.08% ((Revenue TTM 11.5b - Cost of Revenue TTM 8.02b) / Revenue TTM)
Gross Margin QoQ = 34.86% (prev 32.99%)
Tobins Q-Ratio = 1.02 (Enterprise Value 20.1b / Total Assets 19.8b)
Interest Expense / Debt = 2.96% (Interest Expense 292.0m / Debt 9.88b)
Taxrate = 14.56% (23.0m / 158.0m)
NOPAT = -173.4m (EBIT -203.0m * (1 - 14.56%)) [loss with tax shield]
Current Ratio = 1.95 (Total Current Assets 6.99b / Total Current Liabilities 3.59b)
Debt / Equity = 1.59 (Debt 9.88b / totalStockholderEquity, last quarter 6.21b)
Debt / EBITDA = 10.30 (Net Debt 7.72b / EBITDA 750.0m)
Debt / FCF = 11.39 (Net Debt 7.72b / FCF TTM 678.0m)
Total Stockholder Equity = 6.40b (last 4 quarters mean from totalStockholderEquity)
RoA = -5.21% (Net Income -1.06b / Total Assets 19.8b)
RoE = -16.60% (Net Income TTM -1.06b / Total Stockholder Equity 6.40b)
RoCE = -1.35% (EBIT -203.0m / Capital Employed (Equity 6.40b + L.T.Debt 8.62b))
RoIC = -1.05% (negative operating profit) (NOPAT -173.4m / Invested Capital 16.5b)
WACC = 5.63% (E(12.4b)/V(22.3b) * Re(8.10%) + D(9.88b)/V(22.3b) * Rd(2.96%) * (1-Tc(0.15)))
Discount Rate = 8.10% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.00 | Cagr: 0.69%
[DCF] Terminal Value 77.97% ; FCFF base≈540.0m ; Y1≈619.0m ; Y5≈911.0m
[DCF] Fair Price = 11.58 (EV 13.7b - Net Debt 7.72b = Equity 5.98b / Shares 517.0m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -89.77 | EPS CAGR: -10.96% | SUE: 1.58 | # QB: 1
Revenue Correlation: -72.38 | Revenue CAGR: -6.79% | SUE: 0.31 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.52 | Chg30d=-0.15% | Revisions=-42% | Analysts=12
EPS current Year (2026-12-31): EPS=2.05 | Chg30d=-0.08% | Revisions=+80% | GrowthEPS=-9.9% | GrowthRev=+3.3%
EPS next Year (2027-12-31): EPS=2.04 | Chg30d=+0.16% | Revisions=+67% | GrowthEPS=-0.3% | GrowthRev=+2.1%
[Analyst] Revisions Ratio: +47% (up=25, down=8)