Baxter International
BAX stock analysis · Health Care · Health Care Equipment
As of · fund-implied per-share value
Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.
View SEC fund filing ↗Price × SEC outstanding shares. Shares measured 2026-04-24. Approximate; share and price dates can differ.
View share-count filing ↗DCF value
Equity cash-flow scenario · SEC outstanding shares at 2026-04-24 · -54.2% versus input cap
How this is calculated ↗Reverse DCF
Annual basis · read assumptions below
How this is calculated ↗Relative valuation
Requires market caps for at least five comparable profitable issuers.
How this is calculated ↗Historical multiples
4 annual observations
How this is calculated ↗Free cash flow yield
Annual basis · read assumptions below
How this is calculated ↗ROIC / quality
Normalized tax · financing-capital proxy
How this is calculated ↗Value composite
Requires three valuation yields and at least five covered sector peers.
How this is calculated ↗12–1 price momentum
Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.
How this is calculated ↗Asset growth
Annual basis · read assumptions below
How this is calculated ↗Net payout yield
Requires reported dividends, repurchases and issuance; missing values are not zero.
How this is calculated ↗Accrual quality
Annual basis · read assumptions below
How this is calculated ↗Fundamental momentum
Annual basis · read assumptions below
How this is calculated ↗Follow the cash
ANNUAL · USDOperating cash flow and reinvestment over time
Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.
Make the assumptions yours
How sensitive is the valuation?
| Return / Growth | 3.0% | 5.0% | 7.0% |
|---|---|---|---|
| 8.0% | $12.25 | $13.36 | $14.56 |
| 10.0% | $8.97 | $9.76 | $10.61 |
| 12.0% | $7.08 | $7.68 | $8.33 |
Annual financial history
Open SEC filings ↗| Fiscal year-end | Revenue | Net income | Operating cash flow | Capital expenditure | Assets |
|---|---|---|---|---|---|
| 2025-12-31 | 11.2B | -957M | 845M | 513M | 20.1B |
| 2024-12-31 | 10.6B | -638M | 1B | 446M | 25.8B |
| 2023-12-31 | 10.4B | 2.7B | 1.7B | 432M | 28.3B |
| 2022-12-31 | 10.1B | -2.4B | 1.2B | 377M | 28.3B |
| 2021-12-31 | 12.1B | 1.3B | 2.2B | 691M | 33.5B |
| 2020-12-31 | 11.7B | 1.1B | 1.9B | 709M | 20B |
| 2019-12-31 | 11.4B | 1B | 2.1B | 696M | 18.2B |
| 2018-12-31 | 11.1B | 1.5B | 2B | 659M | 15.7B |
USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.
Trace the inputs
MODEL ANNUAL PERIOD| Input | Value | SEC tag / source | Filed |
|---|---|---|---|
| revenue | 11.2B | RevenueFromContractWithCustomerExcludingAssessedTax | 2026-02-12 |
| netIncome | -957M | ProfitLoss Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-12 |
| Parent/common earnings proxy | -957M | NetIncomeLoss | 2026-02-12 |
| cfo | 845M | NetCashProvidedByUsedInOperatingActivities | 2026-02-12 |
| capex | 513M | PaymentsToAcquireProductiveAssets | 2026-02-12 |
| operatingIncome | -308M | OperatingIncomeLoss | 2026-02-12 |
| assets | 20.1B | Assets | 2026-02-12 |
| equity | 6.1B | StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-12 |
| Parent book equity proxy | 6.1B | StockholdersEquity | 2026-02-12 |
| debt | 9.5B | LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities | 2026-02-12 |
| shortDebt | 1M | ShortTermBorrowings | 2026-02-12 |
| cash | 2B | CashAndCashEquivalentsAtCarryingValue | 2026-02-12 |
| shares | 513M | WeightedAverageNumberOfDilutedSharesOutstanding | 2026-02-12 |
| dividends | 348M | PaymentsOfDividendsCommonStock | 2026-02-12 |
| buybacks | — | Not reported under a supported tag | — |
| issuance | 30M | Reviewed manual correction Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from stock issued under employee benefit plans: 30000000 USD [us-gaap:ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions]. All 8 financing lines reconcile exactly to reported financing cash flow -4216000000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: the statement also aggregates other financing cash flows (net -57000000 USD). Their common-equity portion is not separately disclosed here. Issuance is the sum of separately reported common cash-issuance lines, not an independently verified gross total; additional equity flows may be inside those aggregates. | 2026-02-12 |