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BAXTER INTERNATIONAL INC BAX

NYSE · stock · Surgical & Medical Instruments & Apparatus · website · IPO 1961-05-15 · LEI

BAXTER INTERNATIONAL INC statistics & valuation

Market cap$11.4B
P / S1.0×
P / B1.9×
Dividend yield3.06%
Net margin-8.5%
Return on equity-15.6%
Net debt$7.5B
Net debt / EBITDA11.1×
Enterprise value USD$18.9B
EV / EBITDA28×
Earnings yield EBIT/EV-1.6%
Return on capital-1.8%

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports.

Profitability & efficiency

Net margin (%)
48.90% 5.70% 13.90% 8.80% 9.40% 10.60% -24.20% 25.60% -6.10% -8.50% 2016201720182019202020212022202320242025
Gross margin (%)
40.50% 42.30% 42.90% 41.90% 39.30% 38.90% 35.30% 40.10% 37.50% 30.10% 2016201720182019202020212022202320242025
Operating margin (%)
7.30% 12.20% 14.30% 15.60% 13.80% 11.10% -28.30% 6.80% 0.10% -2.70% 2016201720182019202020212022202320242025
Return on equity (%)
59.90% 6.60% 19.70% 12.70% 12.60% 14.10% -41.30% 31.40% -9.20% -15.60% 2016201720182019202020212022202320242025
Shares outstanding
551.0M 555.0M 546.0M 519.0M 517.0M 508.0M 504.0M 508.0M 510.0M 513.0M 2016201720182019202020212022202320242025
Net debt ($)
$2.50B $14.80B $15.08B $10.78B $11.42B $7.47B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
31.90% 3.50% 9.80% 5.50% 5.50% 3.80% -8.60% 9.40% -2.50% -4.80% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.71× 1.95× 2.83× 1.64× 1.88× 1.54× 2016201720182019202020212022202320242025
EPS ($)
$9.01 $1.08 $2.83 $1.93 $2.13 $2.53 -$4.83 $5.23 -$1.27 -$1.87 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

BAXTER INTERNATIONAL INC trades at about 5.2× earnings — below its 10-year norm (10-year range 5.3×–66.7×, median 25.6×).

5.2× 66.7×

Shaded band = 10-year range (5.3×–66.7×); dot = today's 5.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin30.1%37.5%40.1%35.3%38.9%39.3%41.9%42.9%42.3%40.5%
Operating margin-2.7%0.1%6.8%-28.3%11.1%13.8%15.6%14.3%12.2%7.3%
Net margin-8.5%-6.1%25.6%-24.2%10.6%9.4%8.8%13.9%5.7%48.9%
Return on assets-4.8%-2.5%9.4%-8.6%3.8%5.5%5.5%9.8%3.5%31.9%
Return on equity-15.6%-9.2%31.4%-41.3%14.1%12.6%12.7%19.7%6.6%59.9%
Debt / equity1.54×1.88×1.64×2.83×1.95×0.71×————
Current ratio2.311.361.481.692.092.522.322.122.572.40

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.