Baxter International Inc.

NYSE:BAX Stock Report

Market Cap: US$12.5b

Baxter International Valuation

Is BAX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BAX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: BAX ($23.8) is trading below our estimate of future cash flow value ($35.46)

Significantly Below Future Cash Flow Value: BAX is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BAX?

Key metric: As BAX is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BAX. This is calculated by dividing BAX's market cap by their current revenue.
What is BAX's PS Ratio?
PS Ratio1.1x
SalesUS$11.47b
Market CapUS$12.50b

Price to Sales Ratio vs Peers

How does BAX's PS Ratio compare to its peers?

The above table shows the PS ratio for BAX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7.5x
PEN Penumbra
8.3x10.91%US$12.5b
ZBH Zimmer Biomet Holdings
2.1x3.32%US$17.6b
STE STERIS
3.4x6.01%US$20.7b
GKOS Glaukos
16.1x19.02%US$10.0b
BAX Baxter International
1.1x2.63%US$12.5b

Price-To-Sales vs Peers: BAX is good value based on its Price-To-Sales Ratio (1.1x) compared to the peer average (7.5x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does BAX's PS Ratio compare vs other companies in the US Medical Equipment Industry?

53 CompaniesPrice / SalesEstimated GrowthMarket Cap
XRAY DENTSPLY SIRONA
0.6x1.54%US$2.09b
ENOV Enovis
0.5x4.63%US$1.06b
QDEL QuidelOrtho
0.3x1.26%US$833.19m
OFIX Orthofix Medical
0.4x3.62%US$353.97m
BAX 1.1xIndustry Avg. 2.9xNo. of Companies53PS02.85.68.411.214+
53 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BAX is good value based on its Price-To-Sales Ratio (1.1x) compared to the US Medical Equipment industry average (2.9x).

Price to Sales Ratio vs Fair Ratio

What is BAX's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BAX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.1x
Fair PS Ratio1.4x

Price-To-Sales vs Fair Ratio: BAX is good value based on its Price-To-Sales Ratio (1.1x) compared to the estimated Fair Price-To-Sales Ratio (1.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BAX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$23.80
US$28.73
+20.70%
14.32%US$40.00US$23.00n/a11
Sep ’27US$25.48
US$28.73
+12.74%
14.32%US$40.00US$23.00n/a11
Aug ’27US$26.16
US$27.29
+4.33%
18.75%US$40.00US$19.00n/a12
Jul ’27US$21.69
US$21.54
-0.68%
27.16%US$40.00US$17.00n/a12
Jun ’27US$18.40
US$21.54
+17.07%
27.16%US$40.00US$17.00n/a12
May ’27US$17.21
US$22.12
+28.50%
25.76%US$40.00US$18.00n/a13
Apr ’27US$16.78
US$22.19
+32.25%
25.21%US$40.00US$17.00n/a13
Mar ’27US$20.37
US$21.63
+6.20%
25.47%US$40.00US$15.00n/a15
Feb ’27US$20.07
US$23.13
+15.26%
25.69%US$42.00US$15.00n/a15
Jan ’27US$19.11
US$23.67
+23.84%
27.63%US$42.00US$15.00n/a15
Dec ’26US$19.08
US$24.07
+26.14%
25.63%US$42.00US$19.00n/a15
Nov ’26US$18.47
US$24.07
+30.30%
25.63%US$42.00US$19.00n/a15
Oct ’26US$23.36
US$28.73
+23.00%
25.37%US$47.00US$19.00n/a15
Sep ’26US$24.69
US$29.36
+18.90%
25.01%US$47.00US$19.00US$25.4815
Aug ’26US$21.96
US$31.69
+44.31%
22.24%US$47.00US$22.00US$26.1615
Jul ’26US$31.23
US$38.34
+22.77%
17.76%US$55.00US$28.00US$21.6916
Jun ’26US$30.50
US$38.47
+26.12%
17.68%US$55.00US$28.00US$18.4016
May ’26US$30.67
US$39.49
+28.76%
16.72%US$55.00US$30.00US$17.2116
Apr ’26US$34.02
US$39.80
+17.00%
16.04%US$55.00US$30.00US$16.7816
Mar ’26US$34.51
US$39.92
+15.67%
17.49%US$57.82US$30.00US$20.3716
Feb ’26US$32.56
US$40.08
+23.11%
21.64%US$62.00US$30.00US$20.0714
Jan ’26US$29.16
US$40.69
+39.55%
20.94%US$62.00US$30.00US$19.1114
Dec ’25US$33.71
US$40.32
+19.61%
17.36%US$62.00US$35.00US$19.0812
Nov ’25US$35.87
US$42.25
+17.77%
16.49%US$62.00US$30.00US$18.4713
Oct ’25US$36.91
US$42.25
+14.46%
16.49%US$62.00US$30.00US$23.3613
Sep ’25US$37.94
US$42.09
+10.94%
16.71%US$62.00US$30.00US$24.6913
US$28.73
Fair Value
17.2% undervalued intrinsic discount
11
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/11 23:29
End of Day Share Price 2026/09/11 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Baxter International Inc. is covered by 34 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jasper HellwegArgus Research Company
Matthew TaylorBarclays
Matthew MiksicBarclays