Stocks · Healthcare · Medical - Instruments & Supplies
Baxter International Inc. BAX
$23.49 -0.63% Close, Oct 2, 2026 · NYSE · Market cap $12.14B
Inexpensive vs sector
Next earnings report: Oct 29, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Net debt is 10.0× EBITDA, a high level of leverage.
- The stock is in an uptrend: above its 200-day average for 72 trading days, with the 50-day average above the 200-day.
- Revenue over the last four quarters was $11.47B, up 5.4% from a year earlier.
PromtFinance scores
Each score is a percentile within the Healthcare sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 41%
- FCF growth (TTM, YoY)Top 16%
- Revenue growth, 3-year CAGRBottom 34%
- Revenue growth accelerationTop 42%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 34%
- Gross marginBottom 19%
- Operating marginTop 45%
- Accruals (lower is better)Top 29%
- Net debt / EBITDA (lower is better)Bottom 6%
- Interest coverTop 47%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 49%
- Free-cash-flow yieldTop 16%
- EBITDA / enterprise valueTop 28%
- Sales / enterprise valueTop 21%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 42%
- 6-month returnTop 24%
- 1-year return vs S&P 500Bottom 43%
- Distance from 52-week highTop 35%
- Trend checklist (0–4)Top 39%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 28%
- Consecutive EPS beatsTop 35%
- Share of analysts rating BuyBottom 10%
- Upside to consensus price targetBottom 15%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 19%
- Maximum drawdown, 3 yearsTop 41%
- Beta vs S&P 500 (lower is better)Bottom 50%
- Net debt / EBITDA (lower is better)Bottom 6%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 5.1% | 5.4% | ↑ |
| Gross margin | 35.3% | 30.1% | ↓ |
| Operating margin | -0.3% | -2.4% | ↓ |
| FCF margin | 3.1% | 5.9% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 5.4% | 5.1% | ↑ | Bottom 41% |
| Gross margin | 30.1% | 35.3% | ↓ | Bottom 19% |
| Operating margin | -2.4% | -0.3% | ↓ | Top 45% |
| Net margin | -9.3% | -1.4% | ↓ | — |
| Free-cash-flow margin | 5.9% | 3.1% | ↑ | — |
| Return on invested capital | -1.6% | — | Top 34% | |
| Revenue growth, 3-year CAGR | 3.8% | — | Bottom 34% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -12.0%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 1.0%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -0.7 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 10.02×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- -0.9×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 1.56%
- Net buyback yield (TTM)
- -0.29%
- Shareholder yield
- 1.27%
- Share count change, 1 year
- +0.8%
- Share count change, 3-year CAGR
- +0.8%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 30, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 2
- Beats in the last 8 reports
- 6 of 8
- Average EPS surprise, last 4
- +16.6%
- Average 2-day reaction, last 8
- -4.7%
- Positive 20 days after report
- 3 of 8
Analysts
- Consensus price target
- $25.00
- Target vs current price
- +6.4%
- Analysts with a rating
- 36
- Share rating Buy or Strong Buy
- 42%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 30, 2026 | +52.8% | +8.0% | +10.3% | +7.0% | — |
| Apr 30, 2026 | +15.8% | +4.0% | +0.5% | +13.9% | +38.1% |
| Feb 12, 2026 | -17.0% | -16.0% | -4.2% | -19.2% | -19.3% |
| Oct 30, 2025 | +15.0% | -14.5% | -19.9% | -15.7% | -12.7% |
| Jul 31, 2025 | -1.7% | -22.4% | -19.8% | -12.5% | -18.0% |
| May 1, 2025 | +13.8% | -1.6% | -1.4% | -1.5% | -8.5% |
| Feb 20, 2025 | +9.8% | +8.5% | +14.4% | +10.6% | +0.7% |
| Nov 8, 2024 | +2.6% | -3.9% | -12.0% | -11.8% | -14.5% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 30, 2026 | $0.56 | $0.37 | +52.8% | $2.96B |
| Apr 30, 2026 | $0.36 | $0.31 | +15.8% | $2.70B |
| Feb 12, 2026 | $0.44 | $0.53 | -17.0% | $2.97B |
| Oct 30, 2025 | $0.69 | $0.60 | +15.0% | $2.83B |
| Jul 31, 2025 | $0.59 | $0.60 | -1.7% | $2.81B |
| May 1, 2025 | $0.55 | $0.48 | +13.8% | $2.63B |
| Feb 20, 2025 | $0.58 | $0.53 | +9.8% | $2.75B |
| Nov 8, 2024 | $0.80 | $0.78 | +2.6% | $2.70B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (forward) | 11.4× | — | — | — |
| EV / EBITDA | 26.2× | — | — | Top 28% |
| EV / Sales | 1.71× | — | — | Top 21% |
| Free-cash-flow yield | 5.58% | — | — | Top 16% |
| Earnings yield | -8.68% | — | — | Bottom 49% |
P/E over the past five years
Range 6.7× – 159.1× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 72
- 50-day average slope (20 days)
- +2.5%
- 200-day average slope (20 days)
- +2.6%
- Distance from 50-day average
- -7.0%
- Distance from 200-day average
- +12.8%
- RSI (14)
- 41.8
- Relative volume
- 0.69×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 37.8%
- Volatility vs own 5-year history
- 67th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.11
- Correlation with S&P 500
- 0.39
- Current drawdown from 1-year high
- -17.1%
- Maximum drawdown, 3 years
- -63.9%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Feb 9, 2022 | Mar 30, 2026 | -82.3% | 1036 days | Not yet recovered |
| Apr 22, 2021 | Aug 26, 2021 | -16.2% | 88 days | 114 days (Feb 8, 2022) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $12.14B
- EPS, diluted (TTM)
- -$2.04
- Revenue (TTM)
- $11.47B
- Dividend yield
- 0.17%
- 52-week range
- $15.73 – $30.00
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $12.15B | $10.06B | $10.36B | $10.64B | $11.24B |
| Gross profit | $4.72B | $3.55B | $4.15B | $3.98B | $3.38B |
| Operating income | $1.35B | -$2.85B | $707.0M | $14.0M | -$308.0M |
| Net income | $1.28B | -$2.43B | $2.66B | -$649.0M | -$957.0M |
| EPS (diluted) | $2.53 | -$4.83 | $5.23 | -$1.27 | -$1.75 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.70B | $2.75B | $2.63B | $2.81B | $2.83B | $2.97B | $2.70B | $2.96B |
| Net income | $140.0M | -$512.0M | $126.0M | $91.0M | -$46.0M | -$1.13B | -$15.0M | $126.0M |
| EPS (diluted) | $0.27 | -$1.00 | $0.25 | $0.18 | -$0.09 | -$2.16 | -$0.03 | $0.24 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $2.22B | $1.21B | $1.73B | $1.02B | $845.0M |
| Capital expenditure | -$691.0M | -$635.0M | -$436.0M | -$460.0M | -$522.0M |
| Free cash flow | $1.53B | $576.0M | $1.29B | $559.0M | $323.0M |
| Dividends paid | -$530.0M | -$573.0M | -$586.0M | -$590.0M | -$348.0M |
| Net share buybacks | -$413.0M | $95.0M | $95.0M | $71.0M | $30.0M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $2.15B
- Total assets
- $19.79B
- Total liabilities
- $13.61B
- Total debt
- $9.67B
- Net debt
- $7.52B
- Shareholders’ equity
- $6.21B
As of Jun 30, 2026 (filed Jul 30, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Aug 28, 2026 | $0.01 | Oct 1, 2026 |
| May 29, 2026 | $0.01 | Jul 1, 2026 |
| Feb 27, 2026 | $0.01 | Apr 1, 2026 |
| Nov 28, 2025 | $0.01 | Jan 2, 2026 |
| Aug 29, 2025 | $0.17 | Oct 1, 2025 |
| May 30, 2025 | $0.17 | Jul 1, 2025 |
| Feb 28, 2025 | $0.17 | Apr 1, 2025 |
| Nov 29, 2024 | $0.17 | Jan 2, 2025 |
Short interest
- Shares sold short
- 23,227,313
- Days to cover
- 4.48
- Change vs previous report
- -0.3%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Jul 1, 2015
- 1,841-for-1,000
- May 31, 2001
- 2-for-1
- Dec 1, 1992
- 100,000-for-90,823
- Nov 18, 1983
- 2-for-1
- Nov 9, 1981
- 2-for-1