Baxter InternationalBAX +0.71%59 EV-to-FCF is 27.07 as of Jul. 10, 2026, which is 23% below its 10-year median of 35.14. GuruFocus rates BAX with a GF Score™ of 59/100 and a GF Value™ of $34.41 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 414 Medical Devices & Instruments companies, Baxter International ranks worse than 57% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Baxter International's Enterprise Value is $19,326 Mil.
Baxter International's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $714 Mil. Therefore, Baxter International's EV-to-FCF for today is 27.07.
The historical rank and industry rank for Baxter International's EV-to-FCF or its related term are showing as below:
BAX'
s EV-to-FCF Range Over the Past 10 Years
Min: 18.77 Med: 35.14 Max: 127.02
Current: 27.07
During the past 13 years, the highest EV-to-FCF of Baxter International was 127.02. The lowest was 18.77. And the median was 35.14.
BAX's EV-to-FCF is ranked worse than 57% of 414
companies
in the Medical Devices & Instruments industry
Industry Median: 23.19
vs BAX: 27.07
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Baxter International (NYSE:BAX) EV-to-FCF Explanation
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Baxter International's PE Ratio (TTM) for today is calculated as:
Baxter International's share price for today is $22.62.
Baxter International's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-2.130.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Baxter International EV-to-FCF Related Terms
Baxter International EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Baxter International's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Medical Instruments & Supplies subindustry, Baxter International's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Baxter International EV-to-FCF vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Baxter International's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Baxter International's EV-to-FCF falls into.
Baxter International's current Enterprise Value is $19,326 Mil.
Baxter International's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $714 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Baxter International (BAX) has a EV-to-FCF of 27.07 as of Jul. 10, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Baxter International and its competitors. This is 23% below median its historical median of 35.14. Over the past decade, Baxter International's EV-to-FCF has ranged from 18.77 to 127.02. According to the industry distribution chart, Baxter International ranks #236 out of 414 companies in the Medical Devices & Instruments industry, placing it in the top 57%.
Is Baxter International's EV-to-FCF too high?
Baxter International's current EV-to-FCF of 27.07 is 23% below median its 10-year median of 35.14. Over the past 10 years, this metric has ranged from a low of 18.77 to a high of 127.02. The Medical Devices & Instruments industry median EV-to-FCF is 23.19. Baxter International's value of 27.07 is 16.7% above this industry median. Based on the distribution chart, Baxter International ranks #236 out of 414 companies in the Medical Devices & Instruments industry, which is below the industry midpoint. Overall, Baxter International has a GF Score™ of 59/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Baxter International's EV-to-FCF compare to ALGN and SOLV?
According to the Medical Devices & Instruments industry distribution chart, Baxter International ranks #236 out of 414 companies for EV-to-FCF. This places Baxter International in the lower half of its industry. The industry median EV-to-FCF is 23.19. Baxter International's value of 27.07 is 16.7% above this benchmark. Historically, Baxter International's own EV-to-FCF has ranged from 18.77 to 127.02 over the past decade. While the company's 10-year median is 35.14 vs. the industry median of 23.19, Baxter International has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Medical Devices & Instruments company?
The median EV-to-FCF among Medical Devices & Instruments companies is 23.19, based on 414 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Baxter International's current EV-to-FCF of 27.07 is 16.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Baxter International and its competitors. For the Medical Devices & Instruments industry, the median EV-to-FCF is 23.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Baxter International's current EV-to-FCF is 27.07, which is 23% below median its own 10-year median of 35.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Baxter International stock overvalued right now?
Based on GuruFocus' analysis, Baxter International (BAX) is currently considered Possible Value Trap. The stock's GF Value™ is $34.41, compared to a current price of $22.62 — trading 34.3% below its estimated fair value. The current EV-to-FCF is 27.07, which is 23% below median its 10-year median of 35.14 and 16.7% above the Medical Devices & Instruments industry median of 23.19. Baxter International's overall GF Score™ is 59/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Baxter International (BAX), the current EV-to-FCF is 27.07 as of Jul. 10, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Baxter International (BAX) Overvalued in 2026?
Based on GuruFocus' analysis, Baxter International stock appears to be undervalued.
The current stock price of $22.62 is trading 34.3% below its estimated GF Value™ of $34.41.
GuruFocus considers Baxter International to be Possible Value Trap.
Key valuation signals for BAX:
EV-to-FCF: 27.07 (23% below median its 10-year median of 35.14)
GF Value™: $34.41 vs. price of $22.62 (34.3% below fair value)
Industry Position: 16.7% above the Medical Devices & Instruments median (#236 of 414)
No single metric tells the full story. See the BAX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Baxter offers a variety of medical supplies and equipment to providers. From its legacy operations, Baxter sells injectable therapies for use in care settings, including IV pumps, administrative sets, and solutions; nutritional products; and surgical sealants and hemostatic agents. Baxter expanded its portfolio of hospital-focused offerings by acquiring Hillrom in late 2021, which added basic equipment like hospital beds, operating room equipment, and patient monitoring tools to the portfolio. Baxter also sold its kidney care tools in early 2025.
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