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NYSE · Surgical & Medical Instruments & Apparatus · CIK 0000010456
$25.83
-1.15% · delayed 15 min
$13.22B market value
What this company does
BAXTER INTERNATIONAL makes medical devices and equipment. It took in $11.24B last year, which makes it a large company. It spends more than it earns — losing about 9 cents on every dollar of sales.
Financial health
A mixed picture — some clear strengths and some weaknesses.
From BAXTER INTERNATIONAL INC's FY2025 annual filing · share price scored separately
Every check behind the three models, and what each one tests
Measured against FY2024, from the 10-K
Improved: +5.7%
$10.64B to $11.24B
Deteriorated: $308.0M wider
-$649.0M to -$957.0M
Deteriorated: −7.4 pts
37.5% to
Day-to-day operations generate real cash, not just accounting profit.
$845.0M cash from operations
It loses money, so it depends on cash reserves or new funding to keep going.
$957.0M lost last year
It keeps less of each sale as profit than it did a year ago.
-6.1% → -8.5%
Clearing its debt would take many years at the current rate of cash generation.
about 8.8 years of cash flow
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Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 4.7% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
The essentials
Each answered from the filings, with the numbers behind it.
No. It lost $957.0M last year, losing about 9 cents on every dollar of sales.
What it earns, what it keeps, and what it costs to run — all from the same filing
Whether the dividend is covered by what the business actually earns
It paid a dividend while making a loss, so the payment did not come out of profits — it came from reserves, borrowing or asset sales. It paid out 41% of the cash its operations generated. It has paid in each of the last 12 years.
WeakNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2025 annual filing
Last year it lost $957.0M and generated $845.0M of cash from operations.
Reported annual figures
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Go deeper
Every figure above traces back to one of these filings.
Straight from SEC EDGAR — the original source for every figure above
| Filing | Filed | Covers to |
|---|---|---|
| Major event announcement(8-K) | 2026-08-19 | 2026-08-18 |
| Major event announcement(8-K) | 2026-08-18 | 2026-08-18 |
Financial figures are from BAX's 10-K for fiscal year 2025 (period ending 2025-12-31), reported under the US GAAP taxonomy. View the source filing.
6 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
2.27
In the grey zone
For this model, above 2.99 is safe and below 1.81 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
-2.62
Below the threshold — nothing unusual flagged
Scores above -1.78 are the ones the model associates with earnings manipulation.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Deteriorated: −2.4 pts
-6.1% to -8.5%
Deteriorated: -42.1%
$573.0M to $332.0M
Improved: -28.4%
$13.18B to $9.44B
Improved: +11.5%
$1.76B to $1.97B
Changed: +15.0%
$446.0M to $513.0M
1 other measure barely moved. Figures compare the two most recent annual filings — read the latest one. Nothing here reads the management commentary, which is where a company explains its own numbers.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
Slowly. Sales grew 5.7% last year.
Yes. Clearing its debt would take roughly 8.8 years of cash flow. For every $1 it owes, it owns $1.44 in assets. Its operating profit does not cover its interest bill — -1.06x against the interest it owes.
It has no profits to compare a price against, because it lost money last year.
Nothing unusual. Its accounting patterns look like those of companies that report earnings straightforwardly.
At a glance
| Major event announcement(8-K) | 2026-08-04 | 2026-07-31 |
| Major event announcement(8-K) | 2026-08-04 | 2026-08-04 |
| Quarterly report(10-Q) | 2026-07-30 | 2026-06-30 |
| Major event announcement(8-K) | 2026-07-30 | 2026-07-29 |
| Major event announcement(8-K) | 2026-07-14 | 2026-07-14 |
| Major event announcement(8-K) | 2026-05-08 | 2026-05-04 |
| Quarterly report(10-Q) | 2026-04-30 | 2026-03-31 |
| Major event announcement(8-K) | 2026-04-30 | 2026-04-29 |
| Shareholder voting information(DEF 14A) | 2026-03-23 | 2026-05-05 |
| Major event announcement(8-K) | 2026-03-19 | 2026-03-19 |
| Major event announcement(8-K) | 2026-03-16 | 2026-03-15 |
| Annual report(10-K) | 2026-02-12 | 2025-12-31 |
| Major event announcement(8-K) | 2026-02-12 | 2026-02-10 |
| Major event announcement(8-K) | 2025-12-22 | 2025-12-22 |
| Major event announcement(8-K) | 2025-12-04 | 2025-12-04 |
| Major event announcement(8-K) | 2025-11-25 | 2025-11-25 |
| Major event announcement(8-K) | 2025-11-19 | 2025-11-19 |
| Major event announcement(8-K) | 2025-11-19 | 2025-11-19 |
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