Healthcare › Medical Instruments & Supplies

Baxter International Inc. (BAX) Stock Overview

Market Cap: $8.57B

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.

Mar 19, 2026$16.66

1Y -51.1%

Rewards

★FCF yield of 28.4% is historically attractive — the business generates significant cash relative to its price.
★Market sentiment is in extreme fear territory (score: 19/100) — historically, periods of fear have often presented buying opportunities.

Risks

⚠Free cash flow has declined at a 17.5% CAGR over the past 4 years — a concerning trend.

BAX Key Valuation Metrics

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Free Cash Flow

$2.43B

FCF Yield

28.38%

Trailing P/E

N/A

Forward P/E

8.10

ROIC

4.12%

ROE

-15.68%

Gross Margin

35.73%

PEG Ratio

N/A

Debt / Equity

1.60

Interest Coverage

N/A

Net Debt / EBITDA

3.87

Dividend Yield

2.16%

BAX Historical Fundamentals

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Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation.

BAX $1 Retained Earnings Test

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N/A

Net losses over 3 years — test not applicable

Company had negative cumulative retained earnings

Σ Retained

$-474.0M

Δ Market Cap

$-15.88B

Δ Earning Power

+$16.40B

Buffett's "$1 Test": For every $1 retained, how much value did management create?
Market Value = market's verdict (mood-sensitive) · Earning Power = owner earnings / discount rate (mood-independent)

BAX Discounted Cash Flow (DCF) Analysis

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80.1% Margin of Safety

Price is 80.1% below estimated fair value

Current Price: $16.66

Strongly undervalued

Fairly valued

Strongly overvalued

Fair Value: $83.79

Strongly undervalued

Undervalued

Fairly valued

Overvalued

Strongly overvalued

Parameter	Min (Bear)Value	BaseValue	Max (Bull)Value
Initial Cash Flow
Growth Rate (Yr 1-5)	%	%	%
Growth Rate (Yr 6-10)	%	%	%
Terminal Growth Rate	%	%	%
Discount Rate	%	%	%
	Bear Case $60.42 Implied EV: $38.90B	Base Case $83.79 Implied EV: $50.92B	Bull Case $104.74 Implied EV: $61.70B

Reverse DCF — Market-Implied Growth

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What growth rate is the market pricing in at $17?

-7.6%

Market-Implied FCF Growth Rate

Market roughly matching historical growth — reasonable.

BAX Economic Moat Score

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42/100

Narrow Moat

70+ Wide · 40-69 Narrow · <40 None

Narrow moat with revenue predictability as the key competitive advantage. Improving margin stability would strengthen the moat.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 5 years of fundamental data.

BAX Forensic Accounting

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-2.66

Unlikely Manipulator

Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

BAX Management & Board

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Mr. Andrew P. Hider

CEO, President, Interim Group President of Medical Products & Therapies and Director · Age 48

Mr. Charles Rusty Patel

Senior VP & Chief Information Officer · Age 55

Mr. Kevin Moran

Vice President & Head of Investor Relations

Mr. David S. Rosenbloom

Executive VP & General Counsel · Age 65

$776,510

total pay

Ms. Stacey Eisen

SVP, Chief Communications Officer & Corporate Marketing and President of Baxter Foundation

Ms. Cynthia Carlisle

Executive VP & Chief Human Resources Officer · Age 49

Mr. James W. Borzi

Executive VP & Chief Supply Chain Officer · Age 62

Mr. Reazur Rasul

Executive VP & Group President of Healthcare Systems and Technologies · Age 48

Mr. Steven P. Wallace

President of Advanced Surgery & Commercial Excellence · Age 44

Mr. Piero Novello

Senior VP & President of Growth and Emerging Markets

BAX Ownership

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Insiders 0.4%Institutions 110.0%

No. of Institutional Holders1,021

High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.

BAX Insider Buying Activity

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Buys (3M)

Buys (12M)

No open market insider purchases found.

Open market purchases · includes direct & indirect ownership · excludes option exercises

BAX Insider Selling Activity

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Sells (3M)

Sells (12M)

No open market insider sales found.

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

BAX 🎭 Mr. Market's Mood

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🥶Extreme Fear(19/100)

"Mr. Market is panicking — potential buying opportunity if fundamentals are strong"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

BAX ⚖️ Buffett Signal

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⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Extreme Fear (19)

BAX Investment Checklist & Notes

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Do I understand this business?

Does it have a durable competitive advantage (moat)?

Is management honest and competent?

Is management allocating capital rationally?

Is the price reasonable (margin of safety)?

Is this within my circle of competence?

Auto-saved • Last updated: 3/20/2026, 4:30:33 AM

BAX Insider Buying Activity

Learn more →

Buys (3M)

Buys (12M)

No open market insider purchases found.

Open market purchases · includes direct & indirect ownership · excludes option exercises

BAX Insider Selling Activity

Learn more →

Sells (3M)

Sells (12M)

No open market insider sales found.

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

BAX Investment Checklist & Notes

Learn more →

Do I understand this business?

Does it have a durable competitive advantage (moat)?

Is management honest and competent?

Is management allocating capital rationally?

Is the price reasonable (margin of safety)?

Is this within my circle of competence?

Auto-saved • Last updated: 3/20/2026, 4:30:33 AM

Baxter International Inc. (BAX) Stock Overview

Rewards

Risks

BAX Key Valuation Metrics

BAX Historical Fundamentals

BAX $1 Retained Earnings Test

BAX Discounted Cash Flow (DCF) Analysis

Reverse DCF — Market-Implied Growth

BAX Economic Moat Score

BAX Forensic Accounting

M-Score Trend

BAX Management & Board

BAX Ownership

BAX Insider Buying Activity

BAX Insider Selling Activity

BAX 🎭 Mr. Market's Mood

BAX ⚖️ Buffett Signal

Compare BAX

BAX Investment Checklist & Notes

BAX Insider Buying Activity

BAX Insider Selling Activity

BAX Investment Checklist & Notes