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Baxter International Valuation Multiples

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

Baxter International Overview

About Baxter International

Baxter 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 $11.0B

LTM EBITDA $2.4B

EV

$24.0B

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Baxter International Financials

Baxter International has a last 12-month revenue (LTM) of $11.0B and a last 12-month EBITDA of $2.4B.

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

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $11.0B XXX $10.6B XXX XXX XXX
Gross Profit $4.7B XXX $4.0B XXX XXX XXX
Gross Margin 42% XXX 37% XXX XXX XXX
EBITDA $2.4B XXX $1.1B XXX XXX XXX
EBITDA Margin 21% XXX 10% XXX XXX XXX
EBIT $1.6B XXX $439M XXX XXX XXX
EBIT Margin 15% XXX 4% XXX XXX XXX
Net Profit $1.1B XXX -$649M XXX XXX XXX
Net Margin 10% XXX -6% XXX XXX XXX
Net Debt XXX XXX $11.4B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Baxter International Stock Performance

As of July 2, 2025, Baxter International's stock price is $31.

Baxter International has current market cap of $16.0B, and EV of $24.0B.

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Baxter International Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$24.0B $16.0B XXX XXX XXX XXX $2.20

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Baxter International Valuation Multiples

As of July 2, 2025, Baxter International has market cap of $16.0B and EV of $24.0B.

Baxter International's trades at 2.3x EV/Revenue multiple, and 21.5x EV/EBITDA.

Equity research analysts estimate Baxter International's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Baxter International has a P/E ratio of 14.2x.

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Baxter International Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $16.0B XXX $16.0B XXX XXX XXX
EV (current) $24.0B XXX $24.0B XXX XXX XXX
EV/Revenue 2.2x XXX 2.3x XXX XXX XXX
EV/EBITDA 10.2x XXX 21.5x XXX XXX XXX
EV/EBIT 14.8x XXX 54.8x XXX XXX XXX
EV/Gross Profit 5.2x XXX n/a XXX XXX XXX
P/E 14.2x XXX -24.7x XXX XXX XXX
EV/FCF 22.0x XXX 43.0x XXX XXX XXX

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Baxter International Margins & Growth Rates

Baxter International's last 12 month revenue growth is 6%

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

Baxter International's rule of 40 is 17% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Baxter International's rule of X is 35% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Baxter International Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 6% XXX 6% XXX XXX XXX
EBITDA Margin 21% XXX 10% XXX XXX XXX
EBITDA Growth 10% XXX 23% XXX XXX XXX
Rule of 40 17% XXX 16% XXX XXX XXX
Bessemer Rule of X XXX XXX 35% XXX XXX XXX
Revenue per Employee XXX XXX $0.3M XXX XXX XXX
Opex per Employee XXX XXX $0.1M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 6% XXX XXX XXX
Opex to Revenue XXX XXX 33% 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 $16.0B
What is the current revenue of Baxter International? Baxter International's last 12 months revenue is $11.0B.
What is the current revenue growth of Baxter International? Baxter International revenue growth (NTM/LTM) is 6%.
What is the current EV/Revenue multiple of Baxter International? Current revenue multiple of Baxter International is 2.2x.
Is Baxter International profitable? Yes, Baxter International is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Baxter International? Baxter International's last 12 months EBITDA is $2.4B.
What is Baxter International's EBITDA margin? Baxter International's last 12 months EBITDA margin is 21%.
What is the current EV/EBITDA multiple of Baxter International? Current EBITDA multiple of Baxter International is 10.2x.
What is the current FCF of Baxter International? Baxter International's last 12 months FCF is $1.1B.
What is Baxter International's FCF margin? Baxter International's last 12 months FCF margin is 10%.
What is the current EV/FCF multiple of Baxter International? Current FCF multiple of Baxter International is 22.0x.

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