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Baxter International Inc. trades under the ticker symbol BAX on the NYSE. This page brings together its live stock price, an interactive price chart, and key fundamentals like market capitalization, 52-week range, dividend yield, and the next earnings date, with plain-English context to help you understand what the numbers mean.
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Baxter International is a medical-products company whose equipment and supplies are used across hospitals and clinics. Its lines include intravenous (IV) solutions and infusion pumps, surgical products, and connected-care and monitoring systems.
Much of Baxter's revenue is recurring, coming from consumable products and supplies that hospitals reorder rather than one-time equipment sales. That gives the business a steadier demand profile than many industrial companies, tied to overall healthcare activity.
Baxter has reshaped itself through a series of divestitures over the past decade, including spinning off its biopharmaceutical business (Baxalta) earlier and more recently divesting its kidney-care operations, and it has adjusted its capital returns as the company has become smaller and more focused.
Source: Baxter International SEC filings (10-K) and investor relations · Last reviewed July 2026
Baxter International Inc. scores 41 out of 100 (grade D) across the 4 measures we can read from its filings. Its strongest measure is balance-sheet health (grade B); its weakest is profitability (grade F).
Rule-based grades derived from annual figures reported to the SEC. Descriptive, not a rating of the investment.
Baxter International kept its revenue roughly flat (about 1.1% a year) over the 9 years through FY2025 Its profit margin narrowed over the period. Free cash flow did not keep pace, often a sign of heavy reinvestment.
Steady. Revenue went from $10.2B in FY2016 to $11.2B in FY2025, about 1.1% a year. The top line is still expanding, the first sign the business is still in demand.
Volatile. Profit went from $5.0B in FY2016 to -$957M in FY2025. Profit has slipped, which is worth understanding before anything else.
gross margin went from 40.5% to 30.1% (volatile); operating margin went from 7.3% to -2.7% (volatile); net margin went from 48.9% to -8.5% (volatile). Each sale is a little less profitable than before, so it is worth asking why.
Volatile. Free cash flow went from $935M in FY2016 to $332M in FY2025, about -10.9% a year. Cash has lagged profit, usually heavy reinvestment, sometimes a quality flag. The reason matters.
Over the last 11 years the company returned about $6.3B through buybacks and $4.5B through dividends to shareholders. Whether that cash was spent well depends on the price paid for the stock, which this section does not judge. It shows the choices, not a verdict.
Derived from the annual figures this company reported to the SEC. What is described already happened; it is not a forecast.
Slipping. Baxter International keeps about 30.1% of every sales dollar before overhead, and that share has slipped over the last 9 years.
Narrowing. Baxter International's sales grew about 1.1% a year, and its operating margin went from 7.3% to -2.7% over the same period.
Variable. Baxter International's operating margin swung widely over the last 9 years (from 7.3% to -2.7%).
The Investment Case describes Baxter International's competitive advantages, and the risks that could erode them.
These are the quality measures the financial statements support. Several others, such as brand strength and customer concentration, need human judgment and are not measured automatically.
Historically, the company has used a mix of reinvestment, buybacks, and dividends.
On average, capital spending used about 37% of operating cash flow across 10 fiscal years (FY2016-FY2025) - a moderate share of the cash the business generated went back into it.
Reported share repurchases in 8 of the 10 fiscal years shown, totaling about $6.3B (FY2014-FY2024). The reported share count fell about 5% from FY2016 to FY2025.
Paid a per-share dividend in each of the 10 fiscal years shown (FY2016-FY2025). In FY2025, dividends paid totaled about $348M.
The total debt balance rose over the window: about $2.8B in FY2016 vs about $9.5B in FY2025. This describes the balance's direction, not repayments.
As of FY2025, held about $2.0B in cash and equivalents vs about $9.5B of total debt - more total debt than cash at that date.
Derived from annual figures this company reported to the SEC (EDGAR XBRL company facts). Descriptive history only: not a forecast, not a rating, not investment advice.
What has varied in Baxter International Inc.'s past filings, and what to keep an eye on. Descriptive, not a forecast and not a rating.
Baxter International makes the everyday medical products that hospitals depend on, from IV solutions and infusion pumps to surgical and monitoring supplies. The most important feature of the business is that much of its revenue is recurring: hospitals reorder consumables continually, which gives Baxter a steadier demand profile than a company selling big-ticket equipment once. The complication is that Baxter has spent the past decade reshaping itself through spinoffs and divestitures, including separating its biopharmaceutical business earlier and more recently divesting its kidney-care operations, which makes reported results discontinuous and harder to compare year to year, and it has carried meaningful debt from earlier deals. The long-term question is whether the slimmed-down, more focused Baxter can grow its remaining businesses, improve margins, and manage its balance sheet while healthcare cost pressure persists.
Educational analysis from public filings. This is not a recommendation to buy or sell any security.
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Sources: Baxter International 10-K (SEC EDGAR), Baxter International Investor Relations · Last reviewed July 2026
Baxter International makes the everyday medical products that hospitals depend on, from IV solutions and infusion pumps to surgical and monitoring supplies. The most important feature of the business is that much of its revenue is recurring: hospitals reorder consumables continually, which gives Baxter a steadier demand profile than a company selling big-ticket equipment once.
Deep, long-standing positions in essential hospital products, where reliability and regulatory approval matter, give Baxter recurring reorder demand that is hard for new entrants to displace.
A large recurring-revenue base of hospital consumables provides steadier demand than cyclical industries.
Frequent divestitures create accounting discontinuities and make the underlying trend harder to read.
Portfolio changes and divestitures create discontinuities that make year-to-year comparisons harder to read. Hospital budget pressure and reimbursement changes can squeeze pricing.
Baxter's recent history includes divestitures, impairments, and portfolio changes, so trailing earnings can be distorted by one-time items and discontinued operations, and any single year's multiple should be read with that in mind. Cash flow and debt levels are often more informative than reported net income for a company in the middle of reshaping itself.
Organic revenue growth in the remaining businesses after divestitures.
Educational content only. Market data is delayed and is not financial advice. Always do your own research and consult a licensed professional before investing.