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Baxter InternationalMEX:BAX 44 Graham Number is MXNN/A as of Mar. 2026. GuruFocus rates MEX:BAX with a GF Score™ of 44/100 and a GF Value™ of MXN623.25 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 403 Medical Devices & Instruments companies, Baxter International ranks worse than 248138.71% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-07-17), the stock price of Baxter International is MXN368.00. Baxter International's graham number for the quarter that ended in Mar. 2026 was MXNN/A. Therefore, Baxter International's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for Baxter International's Graham Number or its related term are showing as below:
During the past 13 years, the highest Price to Graham Number ratio of Baxter International was 5.17. The lowest was 2.29. And the median was 3.45.
MEX:BAX's Price-to-Graham-Number is not ranked *
in the Medical Devices & Instruments industry.
Industry Median: 1.77 * Ranked among companies with meaningful Price-to-Graham-Number only.
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Baxter International (MEX:BAX) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Baxter International's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
368.00
/
N/A
=
N/A
* 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.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Baxter International Graham Number Related Terms
Baxter International Graham Number Historical Data
* Premium members only.
The historical data trend for Baxter International's Graham Number 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.
MEX:BAX vs ALGN, SOLV, COO: Graham Number Comparison
For the Medical Instruments & Supplies subindustry, Baxter International's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number 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 Price-to-Graham-Number vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Baxter International's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Baxter International's Price-to-Graham-Number falls into.
* 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 (MEX:BAX) has a Graham Number of MXNN/A as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Baxter International and its competitors. Over the past decade, Baxter International's Graham Number has ranged from 2.29 to 5.17. According to the industry distribution chart, Baxter International ranks #999999 out of 403 companies in the Medical Devices & Instruments industry.
Is Baxter International's Graham Number too high?
Baxter International's current Graham Number is MXNN/A. Over the past 10 years, this metric has ranged from a low of 2.29 to a high of 5.17. Based on the distribution chart, Baxter International ranks #999999 out of 403 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Baxter International has a GF Score™ of 44/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Baxter International's Graham Number compare to ALGN and SOLV?
According to the Medical Devices & Instruments industry distribution chart, Baxter International ranks #999999 out of 403 companies for Graham Number. This places Baxter International in the lower half of its industry. The industry median Graham Number is 1.77. Historically, Baxter International's own Graham Number has ranged from 2.29 to 5.17 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Medical Devices & Instruments company?
The median Graham Number among Medical Devices & Instruments companies is 1.77, based on 403 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Baxter International and its competitors. For the Medical Devices & Instruments industry, the median Graham Number is 1.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Baxter International's current Graham Number is MXNN/A. 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 (MEX:BAX) is currently considered Possible Value Trap. The stock's GF Value™ is MXN623.25, compared to a current price of MXN368.00 — trading 41% below its estimated fair value. The current Graham Number is MXNN/A. Baxter International's overall GF Score™ is 44/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Baxter International (MEX:BAX), the current Graham Number is MXNN/A as of Mar. 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 (MEX:BAX) Overvalued in 2026?
Based on GuruFocus' analysis, Baxter International stock appears to be undervalued.
The current stock price of MXN368.00 is trading 41% below its estimated GF Value™ of MXN623.25.
GuruFocus considers Baxter International to be Possible Value Trap.
Key valuation signals for MEX:BAX:
Graham Number: MXNN/A
GF Value™: MXN623.25 vs. price of MXN368.00 (41% below fair value)
No single metric tells the full story. See the MEX: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.
44GF Score
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