BAXBAXTER INTERNATIONAL INC
Surgical & Medical Instruments & Apparatus
- Revenue
- $11.2B
- 5.7% YoY
- Operating margin
- -2.7%
- 2181% YoY
- EBITDA
- $673M
- 33% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 11.1×
- $7.5B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowClear41% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear25% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $12.1B | $10.1B | $10.4B | $10.6B | $11.2B | 5.7% |
| Operating income | $1.4B | −$2.8B | $707M | $14M | −$308M | 2300% |
| Net income | $1.3B | −$2.4B | $2.7B | −$649M | −$957M | 47% |
| Operating cash flow | $2.2B | $1.2B | $1.7B | $1.0B | $845M | 17% |
| Capex | $691M | $377M | $432M | $446M | $513M | 15% |
| Stock-based comp | $146M | $140M | $115M | $114M | $117M | 2.6% |
| Buybacks | $600M | $32M | $0 | $0 | — | |
| Dividends | $530M | $573M | $586M | $590M | $348M | 41% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.