Baxter International Inc. (BAX): price, analyst ratings, earnings and fundamentals
Updated 4 November 2026, 06:50 ET
Baxter International Inc. (BAX) closed at $25.49 on 3 November 2026, up 5.2%. The stock is up 5.2% over one month and up 38.0% over one year. It trades 15.0% below its 52-week high of $30.00. Analysts recorded 4 actions in the last 90 days; the median price target of $25 is 1.9% below the last close. The company last reported on 29 October 2026 for Q3 2026: EPS of $0.58 against an estimate of $0.52, a beat of 11.5%, on revenue of $3.0 billion.
Price and performance
Performance figures use dividend and split adjusted closes over trading sessions, so a one-year move compares the last close with the close 252 sessions earlier. The 52-week range uses the adjusted daily highs and lows of the same window. Read the guide: Momentum, trend and technical indicators.
The live chart with technical indicators is in the app: open BAX in FundSpec.
Analyst ratings
Over the last 90 days FundSpec recorded 4 analyst actions on BAX from 4 firms: 3 maintained or reiterated a view and 1 initiation. Price targets were 1 raised and 2 lowered. The most recent targets from 9 firms range from $20 to $29, with a median of $25, 1.9% below the last close.
| Date | Firm | Action | Price target |
|---|---|---|---|
| 30 Oct 2026 | JP Morgan | Maintains Neutral | $26.00 to $25.00 |
| 30 Oct 2026 | Wells Fargo | Maintains Equal-Weight | $23.00 to $25.00 |
| 7 Oct 2026 | Barclays | Initiates Coverage On Underweight | $20.00 |
| 5 Oct 2026 | Citigroup | Maintains Neutral | $28.00 to $27.00 |
| 31 Jul 2026 | TD Cowen | Maintains Hold | $24.00 to $29.00 |
| 31 Jul 2026 | Wells Fargo | Maintains Equal-Weight | $19.00 to $23.00 |
| 31 Jul 2026 | Stifel | Maintains Hold | $24.00 to $28.00 |
| 31 Jul 2026 | Citigroup | Upgrades to Neutral from Sell | $17.00 to $28.00 |
| 28 Jul 2026 | UBS | Maintains Neutral | $19.00 to $25.00 |
| 28 Jul 2026 | Stifel | Maintains Hold | $19.00 to $24.00 |
A price target is one firm's twelve-month view, and the median across firms is a steadier reading than any single call. Upgrades and downgrades matter more when they change a rating, not only a target. Read the guide: What analyst ratings and price targets actually tell you.
Every action with the firm's history is in Analyst Ratings.
Earnings
The next report is scheduled for 11 February 2027 before the open for Q4 2026, with EPS expected at $0.60 on revenue of $3.1 billion. Baxter International Inc. beat the EPS estimate in 6 of its last 8 reported quarters.
| Period | Reported | EPS estimate | EPS actual | Surprise | Revenue |
|---|---|---|---|---|---|
| Q3 2026 | 29 Oct 2026 | $0.52 | $0.58 | +11.54% | $3.0B |
| Q2 2026 | 30 Jul 2026 | $0.37 | $0.54 | +45.95% | $3.0B |
| Q1 2026 | 30 Apr 2026 | $0.31 | $0.37 | +19.35% | $2.7B |
| Q4 2025 | 12 Feb 2026 | $0.53 | $0.44 | -16.98% | $3.0B |
| Q3 2025 | 30 Oct 2025 | $0.60 | $0.69 | +15.00% | $2.8B |
| Q2 2025 | 31 Jul 2025 | $0.61 | $0.59 | -3.28% | $2.8B |
| Q1 2025 | 1 May 2025 | $0.48 | $0.62 | +29.17% | $2.6B |
| Q4 2024 | 20 Feb 2025 | $0.52 | $0.77 | +48.08% | $2.8B |
An earnings surprise is the reported EPS against the consensus estimate on the day. The price reaction depends as much on guidance and on what was already priced in as on the surprise itself. Read the guide: Earnings season: estimates, surprises and price reaction.
Estimates, confirmed dates and alerts for every company are in Earnings.
Fundamentals
For the period ended 30 September 2026, Baxter International Inc. reported revenue of $3.0 billion and net income of $294.0 million. On a trailing twelve month basis the company shows revenue growth of 5.33%, a gross margin of 30.09%, an operating margin of -1.90% and a return on equity of -10.52%.
Income statement
| Line | Amount |
|---|---|
| Revenue | $2,976,000,000 |
| Cost of Revenue | $1,982,000,000 |
| Gross Profit | $994,000,000 |
| Research and Development | $125,000,000 |
| Selling, General & Administrative Expenses | $730,000,000 |
| Depreciation & Amortization | $239,000,000 |
| Total Operating Expenses | $2,751,000,000 |
| Operating Profit | $225,000,000 |
| Interest Expense | -$13,000,000 |
| Pre-tax Income | $417,000,000 |
| Income Tax Expense | $119,000,000 |
| Net Income | $294,000,000 |
Cash flow
| Line | Amount |
|---|---|
| Cash from Operating Activities | $558,000,000 |
| Stock-based Compensation | $30,000,000 |
| Cash from Investing Activities | -$110,000,000 |
| Cash from Financing Activities | -$620,000,000 |
| Dividends Paid | $5,000,000 |
Assets
| Line | Amount |
|---|---|
| Cash & Cash Equivalents | $1,975,000,000 |
| Restricted Cash | $6,000,000 |
| Accounts & Notes Receivable, Net | $1,783,000,000 |
| Prepaid Expenses | $768,000,000 |
| Inventory | $2,300,000,000 |
| Other Current Assets | $341,000,000 |
| Total Current Assets | $6,826,000,000 |
| Plant, Property & Equipment, Net | $2,873,000,000 |
| Operating Lease Right-of-Use Assets | $260,000,000 |
| Other Investments | $103,000,000 |
| Goodwill Intangible Assets, Net | $8,798,000,000 |
| Deferred Tax Asset | $586,000,000 |
| Other Long-term Assets | $657,000,000 |
| Total Assets | $19,414,000,000 |
Liabilities and equity
| Line | Amount |
|---|---|
| Accounts Payable & Accrued Expenses | $1,024,000,000 |
| Total Short-term Debt | $846,000,000 |
| Operating Lease Liabilities, Current | $81,000,000 |
| Income Taxes Payable | $83,000,000 |
| Deferred Liability Charges | $124,000,000 |
| Total Current Liabilities | $3,809,000,000 |
| Long-term Debt | $10,317,000,000 |
| Operating Lease Liabilities, Long-term | $206,000,000 |
| Finance Lease Liabilities | $23,000,000 |
| Long-term Deferred Liability Charges | $37,000,000 |
| Deferred Income Taxes | $245,000,000 |
| Minority Interest | -$27,000,000 |
| Other Liabilities | $1,167,000,000 |
| Total Liabilities | $12,939,000,000 |
| Common Stock | $683,000,000 |
| Retained Earnings | $14,095,000,000 |
| Treasury Stock | -$10,685,000,000 |
| Other Accumulated Comprehensive Income | -$3,845,000,000 |
| Total Stockholders Equity | $6,502,000,000 |
| Total Liability & Stockholders Equity | $19,414,000,000 |
Figures as filed with the SEC for the period ended 30 September 2026, in US dollars.
FundSpec fundamental metrics
Each metric is computed from the company's filings and ranked against every company FundSpec covers; the percentile is the share of covered companies with a lower value.
Liquidity
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Cash Ratio | 0.52 | 62nd | Calculated as the ratio of Cash and cash equivalents / Current liabilities. This metric calculates the company's ability to repay its short-term debt |
| Current Ratio | 1.79 | 65th | Calculated as the ratio of Current Assets / Current Liabilities. The higher the current ratio, the more capable the company is of paying its obligations |
| Quick Ratio | 0.99 | 57th | Calculated as the ratio of (Cash + Marketable Securities + Accounts Receivable) / Current Liabilities. The quick ratio is a measure of how well a company can meet its short-term financial liabilities. |
Leverage
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Debt/Assets | 0.53 | 88th | Calculated as the ratio of Short-Term Debt + Long-Term Debt / Total Assets. The higher the ratio, the higher the degree of leverage, and consequently, financial risk |
| Debt/Equity | 1.59 | 85th | Calculated as the ratio of Total Liabilities / Shareholders' Equity. The ratio indicates how much debt a company is using to finance its assets relative to the amount of value represented in shareholders’ equity |
| Degree of Operational Leverage | 74.99 | 98th | Calculated as the ratio of Percentage change in EBIT / Percentage change in revenue. It is a measure of how earnings for the company is impacted by its sales activity. |
| Long Term Debt/Long Term Capital | 0.61 | 72nd | Calculated as Long-Term Debt / (Long-Term Debt + Shareholders' Equity). The ratio is an indicator of the company's leverage |
| Long Term Debt/Total Capital | 0.61 | 81st | Calculated as (Short-Term Debt + Long-Term Debt / (Short-Term Debt + Long-Term Debt + Shareholders' Equity). The ratio is an indicator of the company's leverage |
Profitability
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Gross Margin Pct | 30.1% | 37th | Calculated as the ratio of Revenue - Cost of Goods Sold (COGS) / Revenue. The gross margin represents the percent of total sales revenue that the company retains after incurring the direct costs associated with producing the goods and services sold by a company. |
| Operating Margin Pct | -1.9% | 37th | Calculated as the ratio of (Revenue - (Cost of Goods Sold + Labour + Sales, General & Administrative)) / Revenue. Operating margins are important because they measure efficiency. The higher the operating margin, the more profitable a company's core business is. |
| Operating Profit Pct Growth | 400.0% | 98th | The Operating Profit growth rate over the trailing twelve months (TTM) |
| PreTax Margin Pct | -2.5% | 37th | Calculated as the ratio of (Gross profit - (Operating Expense + Interest Expense)) / Revenue. The pretax profit margin enables profitability to be compared across companies with significant differences in size, scale, capital structure and tax rates. |
| Return on Assets Pct | -3.6% | 40th | Calculated as the ratio of Net Income / Total Assets. It is an indicator of how efficient the company is at using its assets to generate earnings. |
| Return on Equity Pct | -10.5% | 35th | Calculated as the ratio of Net Income / Shareholders' equity. It is a measure of how much profit a company generates with the money shareholders have invested. |
| Return on Invested Capital Pct | -1.3% | 39th | Calculated as the ratio of (Net Income - Dividends) / (Debt + Equity). It is a measure of how efficient the company is at allocating the capital under its control to profitable investments. |
Earnings Growth (Net Income)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Net Income Pct Growth | 112.0% | 83rd | The Net Income growth rate over the trailing twelve months (TTM) |
Cashflow
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Operating Cashflow Pct Growth | 119.0% | 87th | The Operating Cashflow growth rate over the trailing twelve months (TTM) |
| Operating Cashflow Pct Growth 3 year CAGR (FY) | 0.1% | 42nd | The Operating Cashflow compound annual growth rate (CAGR) over the past 3 years |
| Operating Cashflow Pct Growth 5 year CAGR (FY) | -6.1% | 32nd | The Operating Cashflow compound annual growth rate (CAGR) over the past 5 years |
Top Line Growth
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Revenue Pct Growth | 5.3% | 47th | The Revenue (Sales) growth rate over the trailing twelve months (TTM) |
| Revenue Pct Growth 3 year CAGR | 0.7% | 36th | The Revenue (Sales) compound annual growth rate (CAGR) over the past 3 years |
| Revenue Pct Growth 5 year CAGR | -1.4% | 21st | The Revenue (Sales) compound annual growth rate (CAGR) over the past 5 years |
Taxes
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Effective Tax Rate Pct | -231.0% | 1st | The effective tax rate of the company over the trailing twelve months (TTM). |
Margins and returns say how much of each dollar of sales becomes profit and how hard the balance sheet is working; leverage and liquidity say how much room the company has when conditions turn. Read the guide: A practical guide to discounted cash flow valuation.
Fair value, peer multiples and the full statement history are in the app: open BAX in FundSpec.
Insider activity
In the last 90 days insiders filed 3 transactions. Acquisitions include awards and option exercises as well as open market purchases. The largest by value was a disposal of 54,276 shares by Andrew P. Hider, Director, President and CEO on 2 September 2026, worth about $1.4 million at the transaction price.
| Date | Insider | Title | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 2 Sep 2026 | Andrew P. Hider | Director, President and CEO | F | 54,276 | $25.70 | $1.4M |
| 2 Sep 2026 | Julie Foster | President, Front Line Care | F | 2,098 | $25.70 | $54K |
| 1 Sep 2026 | James Teaff | President, CCS | F | 750 | $25.48 | $19K |
| 2 Jun 2026 | James Teaff | President, CCS | F | 321 | $18.68 | $6K |
| 2 Jun 2026 | Steven P. Wallace | President, Adv. Surgery | F | 153 | $18.68 | $3K |
| 1 Jun 2026 | Anita A Zielinski | SVP, Interim CFO, CAO & Cntrlr | Acquisition | 13,426 | ||
| 5 May 2026 | David S. Wilkes | Director | Acquisition | 12,836 | ||
| 5 May 2026 | David Brent Shafer | Director, Chair of the Board | Acquisition | 12,836 | ||
| 5 May 2026 | William A. Ii Ampofo | Director | Acquisition | 12,836 | ||
| 5 May 2026 | Amy Mcbride Wendell | Director | Acquisition | 12,836 | ||
| 5 May 2026 | Nancy M Schlichting | Director | Acquisition | 12,836 | ||
| 5 May 2026 | Michael R. Mcdonnell | Director | Acquisition | 12,836 | ||
| 5 May 2026 | Jeffrey A Craig | Director | Acquisition | 12,836 | ||
| 5 May 2026 | Patricia Morrison | Director | Acquisition | 12,836 | ||
| 6 Mar 2026 | Reazur Rasul | EVP,Group Pres,Healthcare | F | 12,674 | $17.69 | $224K |
Insider filings record what officers and directors did with their own shares. Disposals are often planned sales or tax related, so a pattern across several insiders says more than one filing.
SEC filings
The latest filing is a 10-Q from 29 October 2026.
| Filed | Form | Document |
|---|---|---|
| 29 Oct 2026 | 10-Q | View on sec.gov |
| 30 Jul 2026 | 10-Q | View on sec.gov |
| 30 Apr 2026 | 10-Q | View on sec.gov |
| 12 Feb 2026 | 10-K | View on sec.gov |
| 4 Nov 2025 | 10-Q | View on sec.gov |
| 5 Aug 2025 | 10-Q | View on sec.gov |
| 6 May 2025 | 10-Q | View on sec.gov |
| 21 Feb 2025 | 10-K | View on sec.gov |
| 12 Nov 2024 | 10-Q | View on sec.gov |
| 6 Aug 2024 | 10-Q | View on sec.gov |
Company profile
- Exchange
- NYSE
- Sector
- Medical Devices and Instruments
- Industry
- Medical Equipment
- Headquarters
- Deerfield, Illinois
- Chief executive
- José E. Almeida
- Employees
- 60,000
- Website
- baxter.com
- SEC CIK
- 0000010456
Baxter International Inc. develops and provides a portfolio of healthcare products worldwide. The company sells its products through direct sales force, as well as through independent distributors, drug wholesalers, and specialty pharmacy or other alternate site providers in approximately 100 countries.
Sector and peers
Baxter International Inc. is part of the Medical Devices and Instruments sector, which FundSpec tracks across 217 companies.
Companies in the same industry by market capitalization:
SYK Stryker Corp.MMM 3M Co.BSX Boston Scientific Corp.BDX Becton Dickinson & Co.RMD ResMed Inc.DXCM DexCom Inc.WST West Pharmaceutical Services Inc.
Put two of them side by side in Compare.
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