Company Dossier · Health Care
Baxter International
- S&P 500
- Russell 1000
What Baxter International is doing, read from its filings, its own words and the news, with every figure dated and sourced. Not investment advice: no ratings, no price targets.
Open the full company record in Palanor: guidance, KPIs, ownership, calls, prices →
The latest read
Computed from the data on Oct 22, 2026. Every figure links back to its source in the sections below.
- Revenue over the four quarters to June 30, 2026: $11.5 billion, up 5.3% from a year earlier.SEC EDGAR filings (XBRL)
- Free cash flow (operating cash flow minus capital expenditure) over the four quarters to September 30, 2022: $0.84 billion, down 44% from a year earlier.SEC EDGAR filings (XBRL)
- Capital expenditure over the four quarters to September 30, 2022: $0.62 billion, down 17% from a year earlier.SEC EDGAR filings (XBRL)
- Long-term debt issued in the fiscal year to December 31, 2025: $2.00 billion.SEC EDGAR filings (10-K)
- Latest earnings call or results release (July 30, 2026): sentiment 0.30 on a −1 to +1 scale (mixed), confidence 0.60 of 1.Palanor Discourse
- Guidance in the last 90 days: 3 outlook figures raised, 0 lowered, 0 held.Guidance Ledger (8-K results releases)
- Latest annual report (filed February 12, 2026): 3 risk factors added, 2 removed.Risk Factor Changes (10-K Item 1A)
- 691 institutional managers reported a position at June 30, 2026 (+27 on the quarter before).SEC Form 13F
- H-1B filings certified in Q2 2026: 5 (4 a year earlier).U.S. Department of Labor (OFLC)
Company Posture
How Company Posture is measured →What Baxter International is doing, on three axes, from its filings and its own words, as of 2026-10-22. A description, not a rating: Company Posture never says whether to buy.
Expanding ↔ Retrenching
Withheld: 50% of the evidence is readable at this date (needs 60%).
- Capital spending—
- Debt raised—
- Buybacks vs capex—
- Hiring filings80th pct
- Deals and private raises32nd pct
- Patent publications55th pct
Confident ↔ Hedging
Mixed
- Call sentiment37th pct
- Call confidence25th pct
- Guidance changes97th pct
- Risk factors added35th pct
- Insider open-market trades—
- + Guidance changes
- − Call confidence
- − Call sentiment
Pressure
Components only: Not yet shown as a score: in the back-test it did not add to a naive reader's forecast of impairment, debt acceleration or bankruptcy filings (8-K 2.06, 2.04, 1.03) (not enough events (17 in half 1; needs 20)).
- Fails-to-deliver92nd pct
- Stress filings48th pct
Credit
How these are built →Baxter International's borrowing from its SEC filings: the bonds it priced and the debt on its latest balance sheet. A description, not a rating.
Debt on the balance sheet
$0.8B
- Due within a year $0.8B
- Longer term $0.0B
- Default point $0.8B (short + ½ long)
Finance leases included · Jun 30, 2026 filing
Bonds priced, last 12 months
$2.0B
U.S. dollar tranches with a term sheet on EDGAR. Deals sold under Rule 144A file none and are not counted.
| Priced | Amount | Coupon | Matures | Spread | Yield |
|---|---|---|---|---|---|
| Nov 19, 2025 | $300M | 4.450% | 2029 (3y) | +90bp | 4.475% |
| Nov 19, 2025 | $700M | 4.900% | 2030 (5y) | +125bp | 4.939% |
| Nov 19, 2025 | $1B | 5.650% | 2035 (10y) | +155bp | 5.663% |
From the pricing term sheets Baxter International filed with the SEC. Spread is to the benchmark Treasury (or Bund, Gilt) at pricing.
Charts
Live charts: each one redraws from today’s data and has an image link to paste into a document or slide.
Cash flow
Capital returned and raised
What the company says
In the news
Headlines that name Baxter International, with the publisher and a link. The tone is read from each headline’s own words, never from a summary of the article.
- NeutralBaxter International Inc (BAX) Stock Up 3.1% and Still Undervalued -- GF Score: 70/100
gurufocus.com · via Marketaux · Oct 5, 2026
Filings and records
The last two years of notable 8-Ks, offerings, annual reports, federal awards, lobbying reports, patents and other public records, newest first.
- Oct 20, 2026LobbyingLobbying report (LEAVITT PARTNERS, LLC)third_quarter 2026 · $0.0 million
- Oct 20, 2026LobbyingLobbying report (THE NICKLES GROUP, LLC)third_quarter 2026 · $0.1 million
- Oct 20, 2026LobbyingLobbying report (BAXTER HEALTHCARE CORPORATION)third_quarter 2026 · $0.3 million
- Oct 20, 2026Patent
- Oct 16, 2026LobbyingLobbying report (S-3 GROUP)third_quarter 2026 · $0.1 million
- Oct 13, 2026Patent
- Oct 13, 2026Patent
- Oct 6, 2026Patent
- Oct 6, 2026Trademark
- Sep 29, 2026Patent
- Aug 27, 2026LobbyingLobbying report (MCDERMOTT+)third_quarter 2026 · $0.0 million
- Aug 19, 20268-KDirector or officer changeItem 5.02
- Aug 18, 20268-KMaterial agreement signedItem 1.01
- Aug 4, 20268-KDirector or officer changeItem 5.02
- Jul 23, 2026LobbyingLobbying report (SUMMIT HEALTH CARE CONSULTING)second_quarter 2026
- Jul 21, 2026LobbyingLobbying report (SUMMIT HEALTH CARE CONSULTING)second_quarter 2026
- Jul 20, 2026LobbyingLobbying report (BAXTER HEALTHCARE CORPORATION)second_quarter 2026 · $0.3 million
- Jul 8, 2026Trademark
- May 8, 20268-KDirector or officer changeItem 5.02
- May 8, 20268-KShareholder vote resultsItem 5.07
- Mar 16, 20268-KDirector or officer changeItem 5.02
- Feb 12, 20268-KDirector or officer changeItem 5.02
- Feb 12, 202610-KAnnual report (10-K)3 risk factors added, 2 removed
- Dec 4, 20258-KMaterial agreement signedItem 1.01
- Dec 4, 20258-KMaterial agreement terminatedItem 1.02
- Dec 4, 2025Trademark
- Dec 4, 2025Trademark
- Nov 25, 20258-KMaterial agreement signedItem 1.01
- Nov 18, 2025Trademark
- Nov 12, 20258-KDirector or officer changeItem 5.02
- Oct 21, 20258-KDirector or officer changeItem 5.02
- Jul 7, 20258-KDirector or officer changeItem 5.02
- Jun 12, 20258-KMaterial agreement signedItem 1.01
- Jun 12, 20258-KMaterial agreement terminatedItem 1.02
- May 8, 20258-KShareholder vote resultsItem 5.07
- Feb 21, 202510-KAnnual report (10-K)5 risk factors added, 3 removed
- Feb 18, 2025Risk event
- Feb 3, 20258-KDirector or officer changeItem 5.02
- Feb 3, 20258-KAcquisition or sale completedItem 2.01
- Feb 3, 20258-KDirector or officer changeItem 5.02
Peers
Companies in the same industry in the S&P 500, Russell 1000 or MidCap 400, closest in revenue first. Trailing twelve months, from SEC filings.
| Company | Revenue | Free cash flow | Through |
|---|---|---|---|
| Intuitive Surgical ISRG | $11.0B | $3.2B | Jun 30, 2026 |
| Zimmer Biomet ZBH | $8.5B | $1.5B | Jun 30, 2026 |
| Edwards Lifesciences EW | $6.5B | $1.4B | Jun 30, 2026 |
| GE HealthCare GEHC | $21.0B | — | Mar 31, 2026 |
| Boston Scientific BSX | $21.0B | $3.6B | Jun 30, 2026 |
| Steris STE | $6.0B | $0.9B | Jun 30, 2026 |
| Becton Dickinson BDX | $22.5B | $2.7B | Jun 30, 2026 |
| ResMed| RMD | $5.7B | $1.6B | Jun 30, 2026 |