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Baxter International Valuation Multiples

Discover revenue and EBITDA valuation multiples for Baxter International and similar public comparables like Philips, Perspective Therapeutics, and SmartVest.

Baxter International Overview

About Baxter International

Baxter International Inc offers a variety of medical supplies and equipment to providers. From its legacy operations, Baxter sells injectable therapies for use in care settings, including IV pumps, administrative sets, and solutions; nutritional products; and surgical sealants and hemostatic agents. Baxter expanded its portfolio of hospital-focused offerings by acquiring Hillrom in late 2021, which added basic equipment like hospital beds, operating room equipment, and patient monitoring tools to the portfolio. Baxter also sold its kidney care tools in early 2025.


Founded

1931

HQ

United States of America
Employees

38K+

Website

baxter.com

Financials

LTM Revenue $10.8B

LTM EBITDA $2.2B

EV

$26.5B

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Baxter International Financials

Baxter International has a last 12-month revenue of $10.8B and a last 12-month EBITDA of $2.2B.

In the most recent fiscal year, Baxter International achieved revenue of $10.6B and an EBITDA of $1.1B.

Baxter International expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Baxter International P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $14.8B $10.6B XXX XXX XXX
Gross Profit $5.4B $5.0B XXX XXX XXX
Gross Margin 36% 47% XXX XXX XXX
EBITDA $1.7B $1.1B XXX XXX XXX
EBITDA Margin 11% 10% XXX XXX XXX
Net Profit -$2.4B $2.7B XXX XXX XXX
Net Margin -16% 25% XXX XXX XXX
Net Debt $14.9B $10.6B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Baxter International Stock Performance

As of April 18, 2025, Baxter International's stock price is $29.

Baxter International has current market cap of $14.8B, and EV of $26.5B.

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Baxter International Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$26.5B $14.8B XXX XXX XXX XXX $2.07

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Baxter International Valuation Multiples

As of April 18, 2025, Baxter International has market cap of $14.8B and EV of $26.5B.

Baxter International's trades at 2.5x LTM EV/Revenue multiple, and 11.8x LTM EBITDA.

Analysts estimate Baxter International's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Baxter International Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $26.5B XXX XXX XXX
EV/Revenue 2.5x XXX XXX XXX
EV/EBITDA 23.7x XXX XXX XXX
P/E -22.8x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF 47.4x XXX XXX XXX

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Baxter International Valuation Multiples

Baxter International's NTM/LTM revenue growth is 5%

Baxter International's revenue per employee for the last fiscal year averaged $0.3M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Baxter International's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Baxter International's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Baxter International Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -28% XXX XXX XXX XXX
EBITDA Margin 10% XXX XXX XXX XXX
EBITDA Growth -33% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 15% XXX XXX XXX XXX
Revenue per Employee $0.3M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 28% XXX XXX XXX XXX
R&D Expenses to Revenue 6% XXX XXX XXX XXX
Opex to Revenue 33% XXX XXX XXX XXX

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Baxter International Public Comps

See public comps and valuation multiples for Medical Devices comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Philips XXX XXX XXX XXX XXX XXX
Perspective Therapeutics XXX XXX XXX XXX XXX XXX
SmartVest XXX XXX XXX XXX XXX XXX
InfuSystem XXX XXX XXX XXX XXX XXX
Myomo XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Baxter International M&A and Investment Activity

Baxter International acquired  XXX companies to date.

Last acquisition by Baxter International was  XXXXXXXX, XXXXX XXXXX XXXXXX . Baxter International acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Baxter International

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Baxter International

When was Baxter International founded? Baxter International was founded in 1931.
Where is Baxter International headquartered? Baxter International is headquartered in United States of America.
How many employees does Baxter International have? As of today, Baxter International has 38K+ employees.
Who is the CEO of Baxter International? Baxter International's CEO is Mr. D. Brent Shafer.
Is Baxter International publicy listed? Yes, Baxter International is a public company listed on NYS.
What is the stock symbol of Baxter International? Baxter International trades under BAX ticker.
When did Baxter International go public? Baxter International went public in 1961.
Who are competitors of Baxter International? Similar companies to Baxter International include e.g. Philips, Perspective Therapeutics, SmartVest, InfuSystem.
What is the current market cap of Baxter International? Baxter International's current market cap is $14.8B
What is the current revenue of Baxter International? Baxter International's last 12-month revenue is $10.8B.
What is the current EBITDA of Baxter International? Baxter International's last 12-month EBITDA is $2.2B.
What is the current EV/Revenue multiple of Baxter International? Current revenue multiple of Baxter International is 2.5x.
What is the current EV/EBITDA multiple of Baxter International? Current EBITDA multiple of Baxter International is 11.8x.
What is the current revenue growth of Baxter International? Baxter International revenue growth between 2023 and 2024 was -28%.
Is Baxter International profitable? Yes, Baxter International is EBITDA-positive (as of the last 12 months).

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