Baxter International Inc (BAX) Fair Value & Analysis
Healthcare · US · Market cap $12.1B · ISIN US0718131099
What is Baxter International Inc really worth?
Baxter International Inc
BAX · US
Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Below-average quality, and trading another 854% above our fair value of $2.68.
Risks
For context
Fair value as of: Aug 23, 2026
From 6 valuation models · updated 13 days ago
Share price −9.8% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($7.24). The favourable scenario is already priced in.
- Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide ($2.68 to $7.24). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.
How to read this chart
60‑month range $15.79 – $81.43 · fair‑value band $2.68 – $7.24 · the $25.57 price screens above the $2.68 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 23, 2026.
Analysis
Baxter International Inc (BAX) currently trades at $25.57, while our model-based Fair Value estimate is $2.68, implying the stock looks roughly 854.2% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Healthcare sector. Bull case: the Dividend Discount group reads highest at a median of $8.56 per share, and 0 of the 5 models we run sit above the $25.57 price. Bear case: the DCF Models group reads lowest at $0.9200, and 5 of the 5 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Baxter International Inc generated revenue of $11.3B at a net margin of −9.7%. Revenue grew 2.9% year over year. It earns a return on equity of −15.0%. Net debt stands at $8.0B. Fundamentals as of Aug 23, 2026
Our scenario range runs from $2.68 (bear case) to $7.24 (bull case); at $25.57, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 20% below its 52-week high and 63% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −46% fair-value upside, at −90%, BAX screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Dividend Discount ($8.56) versus DCF Models ($0.9200). Highest evidence: 5Y EBITDA Exit (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 41 · Market factors (momentum, volatility) 67
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Baxter International Inc reported revenue of $11.2B in FY2025 versus $12.1B in FY2021, a compound −1.9%/yr. Reported net income was −$957M in FY2025.
BAX screens 854% overvalued. Compare with Intuitive Surgical, Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Baxter hires new CFO with visa contingency
- Baxter hires CFO from Smith & Nephew
- Baxter Appoints John Rogers Chief Financial Officer
- Baxter Announces Pricing for Its Upsized Cash Tender Offers
Peer Group
Medical Instruments & Supplies · 194 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Medical Instruments & Supplies median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Medical Instruments & Supplies stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Intuitive Surgical, Inc ISRG | $367.07 | $150.04 | −59% |
| EssilorLuxottica Société anonyme EL | €160.35 | €94.93 | −41% |
| Medline Inc MDLN | $36.59 | $30.15 | −18% |
| Becton, Dickinson and Company BDX | $187.12 | $100.46 | −46% |
| Alcon Inc ALC | $72.23 | $39.78 | −45% |
| ResMed Inc RMD | A$33.19 | A$26.23 | −21% |
| West Pharmaceutical Services, Inc WST | $337.47 | $141.58 | −58% |
| Sartorius Stedim Biotech S.A DIM | €197.70 | €48.88 | −75% |
| Straumann Holding STMN | CHF 97.38 | CHF 47.31 | −51% |
| Sartorius Aktiengesellschaft SRT3 | €253.50 | €63.30 | −75% |
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