Baxter International Inc. (BAX)

From the record

Baxter International Inc.'s filings since 2017 show 4 warning events of 3 kinds: a notice about its exchange listing (8-K item 3.01, the latest 2019-11-22); a warning not to rely on past financial statements (8-K item 4.02, the latest 2020-02-13); a late-report notice (Form NT 10-K or NT 10-Q, 2 times, the latest 2020-03-03) (its current reports).

From the record

Baxter International Inc.'s 10 filed years say what it did: revenue went from $10 billion in fiscal 2016 to $11 billion in fiscal 2025, up 1.1% a year; it rose in 8 of 9 years; the deepest fall was 17% from fiscal 2021 to fiscal 2022; net income was positive in 7 of 10 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, Baxter International Inc.'s diluted share count grew about 0.6% a year, and dividends and buybacks returned about 42% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Baxter International Inc. lost about 16 cents for every dollar of shareholders' money, and gross profitability: its products earned about 17 cents per dollar of everything the company owns. Leverage: it owed about 70 cents per dollar of assets, and net share issuance: its share count grew 0.6% over the year (the filed statements).

From the record

Baxter International Inc.'s standing among 109 graded names in its industry family: revenue of $11 billion in fiscal 2025 ranks in the top 5% by size; a net margin of -8.5% ranks in the top 37%; revenue growth of 3.8% a year over the last 3 filed years ranks in the bottom 31% (its annual reports).

From the record

Baxter International Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Hider, Andrew P. (President and CEO, as filed), filing under that title since 2025-08-25, 1.2 years (bottom 28% of its family); the 22 officers and directors filing in the last fifteen months have been on the record a median of 3.2 years (bottom 16%); 16 officer or director changes were reported on Form 8-K since 2023-11-13, against the 22 people in charge now (bottom 31%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Baxter International Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $2.0 billion against debt of $9.5 billion leaves -37.4% of its assets as net cash, bottom 3% of its family; cash from operations less capital spending is 3% of revenue (top 34%); a gross margin of 30.1% (bottom 14%); research spending of 4.6% of revenue (bottom 23%) (its annual report).

From the record

Baxter International Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 3.8% a year over the last three filed years against 1.1% over all 10, speeding up (top 24% of its family); the newest year grew 5.7% (bottom 30%); research spending grew 4.8% a year (bottom 48%); capital spending grew 10.8% a year (top 34%) (its annual reports). Baxter International Inc. reported 3 lines of business in fiscal 2025: Medical Products and Therapies at $5.3 billion, Healthcare Systems and Technologies at $3.1 billion, Pharmaceuticals at $2.5 billion. 3 of 3 grew in the latest filed year, and the largest line is 49% of revenue (its annual report).

From the record

Baxter International Inc.'s newest year against its own record: revenue of $11 billion in fiscal 2025 came in 2.8% above the $11 billion its prior three years' pace pointed to (top 31% of its family); net income of $957 million against a prior three-year average of $142 million (bottom 2%); a net margin of -8.5% against -1.6% before (bottom 14%) (its annual reports).