BAXTER INTERNATIONAL INC
BAX · Surgical & Medical Instruments & Apparatus · 516.5M shares · -1%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$83M (gross $32M, SBC $115M)
Grade
D52Medical-products maker mid-restructuring with operating losses, leverage, and weak coverage.
Strengths
- Adequate liquidity — current ratio 2.3 (40th)
Risks
- Operating/net losses — operating margin -3%, interest coverage -1.1
- High leverage — D/E 1.5 (80th)
- Spin-off/impairment disruption — per 10-K
Notable findings
- No interest coverageInterest coverage -1.06 (cannot cover interest)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -8.5%)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
30.1%
Operating margin
-2.7%
Net margin
-8.5%
Return on equity
-15.6%
Return on assets
-4.8%
ROIC
-1.6%
Revenue growth (QoQ)
-9.2%
Debt / equity
1.5×
Net debt / EBITDA
11.1×
Interest coverage
-1.1×
Current ratio
2.3×
EBITDA
$673M
Tangible book value
-$3.2B
Cash & investments
$2.0B
Stock comp / revenue
1.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-02 | Teaff James | Tax withheld | 321 | $18.68 |
| 2026-06-02 | Wallace Steven P. | Tax withheld | 153 | $18.68 |
| 2026-06-01 | Zielinski Anita A | Grant | 13K | — |
| 2026-05-05 | SCHLICHTING NANCY M | Grant | 13K | — |
| 2026-05-05 | MORRISON PATRICIA | Grant | 13K | — |
| 2026-05-05 | Shafer David Brent | Grant | 13K | — |
| 2026-05-05 | McDonnell Michael R. | Grant | 13K | — |
| 2026-05-05 | Ampofo William A. II | Grant | 13K | — |
| 2026-05-05 | Craig Jeffrey A | Grant | 13K | — |
| 2026-05-05 | Wilkes David S. | Grant | 13K | — |
| 2026-05-05 | Wendell Amy McBride | Grant | 13K | — |
| 2026-03-06 | Zielinski Anita A | Tax withheld | 1.9K | $17.69 |
| 2026-03-06 | Soriano Maria Cecilia | Tax withheld | 2.8K | $17.69 |
| 2026-03-06 | Rosenbloom David S. | Tax withheld | 6.6K | $17.69 |
| 2026-03-06 | Rasul Reazur | Tax withheld | 13K | $17.69 |
| 2026-03-06 | Grade Joel T. | Tax withheld | 8.2K | $17.69 |
| 2026-03-02 | Rasul Reazur | Tax withheld | 1.6K | $19.69 |
| 2026-03-02 | Rosenbloom David S. | Tax withheld | 1.3K | $19.69 |
| 2026-03-02 | Soriano Maria Cecilia | Tax withheld | 1.9K | $19.69 |
| 2026-02-27 | Carlisle Cynthia | Grant | 12K | — |
| 2026-02-27 | Hider Andrew P. | Grant | 202K | — |
| 2026-02-27 | Carlisle Cynthia | Grant | 18K | — |
| 2026-02-27 | Soriano Maria Cecilia | Grant | 24K | — |
| 2026-02-27 | Rosenbloom David S. | Grant | 27K | — |
| 2026-02-27 | Grade Joel T. | Grant | 43K | — |
| 2026-02-27 | Zielinski Anita A | Grant | 31K | — |
| 2026-02-13 | McDonnell Michael R. | Grant | 1.8K | — |
| 2026-02-09 | Soriano Maria Cecilia | Grant | 2.3K | — |
| 2026-02-09 | Soriano Maria Cecilia | Tax withheld | 918 | $21.73 |
| 2026-02-09 | Rosenbloom David S. | Grant | 17K | — |
| 2026-02-09 | Rosenbloom David S. | Tax withheld | 5.2K | $21.73 |
| 2026-02-09 | Rasul Reazur | Grant | 19K | — |
| 2026-02-09 | Rasul Reazur | Tax withheld | 5.8K | $21.73 |
| 2026-02-09 | Grade Joel T. | Grant | 31K | — |
| 2026-02-09 | Grade Joel T. | Tax withheld | 9.1K | $21.73 |
| 2025-12-12 | Mason Jeanne K | Tax withheld | 650 | $19.15 |
| 2025-12-01 | Grade Joel T. | Tax withheld | 8.3K | $19.08 |
| 2025-09-02 | Hider Andrew P. | Grant | 236K | — |
| 2025-09-02 | Sonig Alok | Tax withheld | 3.2K | $24.17 |
| 2025-09-02 | Hider Andrew P. | Grant | 132K | — |
| 2025-09-02 | Grade Joel T. | Grant | 103K | — |
| 2025-09-02 | Borzi James W | Tax withheld | 1.8K | $24.17 |
| 2025-08-19 | Shafer David Brent | Tax withheld | 31K | $24.33 |
| 2025-06-02 | Rosenbloom David S. | Tax withheld | 17K | $29.55 |
| 2025-05-06 | Craig Jeffrey A | Grant | 7.2K | — |
| 2025-05-06 | Wilkes David S. | Grant | 7.2K | — |
| 2025-05-06 | Wendell Amy McBride | Grant | 7.2K | — |
| 2025-05-06 | Smith Cathy R | Grant | 7.2K | — |
| 2025-05-06 | SCHLICHTING NANCY M | Grant | 7.2K | — |
| 2025-05-06 | RUSCKOWSKI STEPHEN H | Grant | 7.2K | — |
| 2025-05-06 | Oesterle Stephen N. | Grant | 7.2K | — |
| 2025-05-06 | MORRISON PATRICIA | Grant | 7.2K | — |
| 2025-05-06 | Ampofo William A. II | Grant | 7.2K | — |
| 2025-03-06 | Zielinski Anita A | Grant | 17K | — |
| 2025-03-06 | Sonig Alok | Tax withheld | 11K | $35.44 |
| 2025-03-06 | Sonig Alok | Grant | 30K | — |
| 2025-03-06 | Rosenbloom David S. | Tax withheld | 4.9K | $35.44 |
| 2025-03-06 | Rosenbloom David S. | Grant | 18K | — |
| 2025-03-06 | Rasul Reazur | Tax withheld | 9.3K | $35.44 |
| 2025-03-06 | Rasul Reazur | Grant | 26K | — |
| 2025-03-06 | Mason Jeanne K | Tax withheld | 4.4K | $35.44 |
| 2025-03-06 | Mason Jeanne K | Grant | 16K | — |
| 2025-03-06 | Knight Heather | Tax withheld | 14K | $35.44 |
| 2025-03-06 | Knight Heather | Grant | 36K | — |
| 2025-03-06 | Grade Joel T. | Tax withheld | 4.3K | $35.44 |
| 2025-03-06 | Grade Joel T. | Grant | 30K | — |
| 2025-03-06 | Borzi James W | Tax withheld | 3.3K | $35.44 |
| 2025-03-06 | Borzi James W | Grant | 10.0K | — |
| 2025-03-03 | Sonig Alok | Tax withheld | 1.9K | $34.86 |
| 2025-03-03 | Rosenbloom David S. | Tax withheld | 1.3K | $34.86 |
| 2025-03-03 | Rasul Reazur | Tax withheld | 2.0K | $34.86 |
| 2025-03-03 | Mason Jeanne K | Tax withheld | 1.5K | $34.86 |
| 2025-03-03 | Knight Heather | Tax withheld | 3.3K | $34.86 |
| 2025-03-03 | Borzi James W | Tax withheld | 1.3K | $34.86 |
| 2025-02-05 | Shafer David Brent | Grant | 76K | — |
| 2025-01-31 | Toth Christopher A. | Tax withheld | 25K | $32.56 |
| 2024-12-31 | Toth Christopher A. | Tax withheld | 33K | $29.16 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-08 | Exec/director change5.03Shareholder voteExhibits | filing ↗ |
| 2026-04-30 | ResultsOtherExhibits | filing ↗ |
| 2026-03-19 | Reg FDExhibits | filing ↗ |
| 2026-03-16 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-02-12 | ResultsExec/director changeOtherExhibits | filing ↗ |
| 2025-12-22 | Other | filing ↗ |
| 2025-12-04 | Material agreement1.02Debt obligationOtherExhibits | filing ↗ |
| 2025-11-25 | Material agreementExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-08 | 2026-05-04 | 0001193125-26-214680 ↗ |
| 8-K | 2026-04-30 | 2026-04-29 | 0001628280-26-028582 ↗ |
| 10-Q | 2026-04-30 | 2026-03-31 | 0001628280-26-028962 ↗ |
| 8-K | 2026-03-19 | 2026-03-19 | 0001193125-26-116114 ↗ |
| 8-K | 2026-03-16 | 2026-03-15 | 0001193125-26-107345 ↗ |
| 8-K | 2026-02-12 | 2026-02-10 | 0001628280-26-007474 ↗ |
| 10-K | 2026-02-12 | 2025-12-31 | 0001628280-26-007733 ↗ |
| 8-K | 2025-12-22 | 2025-12-22 | 0000010456-25-000025 ↗ |
| 8-K | 2025-12-04 | 2025-12-04 | 0001628280-25-055359 ↗ |
| 8-K | 2025-11-25 | 2025-11-25 | 0001628280-25-054015 ↗ |
| 8-K | 2025-11-19 | 2025-11-19 | 0001628280-25-053056 ↗ |
| 8-K | 2025-11-19 | 2025-11-19 | 0001628280-25-053187 ↗ |