Baxter InternationalWBO:BAX +4.49%56 PB Ratio is 1.82 as of Jun. 25, 2026, which is 52% below its 10-year median of 3.80. GuruFocus rates WBO:BAX with a GF Score™ of 56/100 and a GF Value™ of €28.97 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 788 Medical Devices & Instruments companies, Baxter International ranks better than 56.35% on this metric.
The historical rank and industry rank for Baxter International's PB Ratio or its related term are showing as below:
WBO:BAX'
s PB Ratio Range Over the Past 10 Years
Min: 1.28 Med: 3.8 Max: 6.14
Current: 1.8
During the past 13 years, Baxter International's highest PB Ratio was 6.14. The lowest was 1.28. And the median was 3.80.
WBO:BAX's PB Ratio is ranked better than 56.35% of 788
companies
in the Medical Devices & Instruments industry
Industry Median: 2.045
vs WBO:BAX: 1.80
During the past 12 months, Baxter International's average Book Value Per Share Growth Rate was -15.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 1.00% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -6.40% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -2.20% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Baxter International was 22.00% per year. The lowest was -10.80% per year. And the median was 1.20% per year.
Back to Basics: PB Ratio
Baxter International (WBO:BAX) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Baxter International PB Ratio Related Terms
Baxter International PB Ratio Historical Data
* Premium members only.
The historical data trend for Baxter International's PB Ratio 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 PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Baxter International's PB Ratio distribution charts can be found below:
* The bar in red indicates where Baxter International's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Baxter International (WBO:BAX) has a PB Ratio of 1.82 as of Jun. 25, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Baxter International and its competitors. This is 52% below median its historical median of 3.80. Over the past decade, Baxter International's PB Ratio has ranged from 1.28 to 6.14. According to the industry distribution chart, Baxter International ranks #344 out of 788 companies in the Medical Devices & Instruments industry, placing it in the top 43.7%.
Is Baxter International's PB Ratio too high?
Baxter International's current PB Ratio of 1.82 is 52% below median its 10-year median of 3.80. Over the past 10 years, this metric has ranged from a low of 1.28 to a high of 6.14. The Medical Devices & Instruments industry median PB Ratio is 2.05. Baxter International's value of 1.82 is 11% below this industry median. Based on the distribution chart, Baxter International ranks #344 out of 788 companies in the Medical Devices & Instruments industry, which is above the industry midpoint. Overall, Baxter International has a GF Score™ of 56/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Baxter International's PB Ratio compare to COO and ATR?
According to the Medical Devices & Instruments industry distribution chart, Baxter International ranks #344 out of 788 companies for PB Ratio. This puts Baxter International in the upper half of its industry. The industry median PB Ratio is 2.05. Baxter International's value of 1.82 is 11% below this benchmark. Historically, Baxter International's own PB Ratio has ranged from 1.28 to 6.14 over the past decade. While the company's 10-year median is 3.80 vs. the industry median of 2.05, Baxter International has consistently been below 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 PB Ratio for a Medical Devices & Instruments company?
The median PB Ratio among Medical Devices & Instruments companies is 2.05, based on 788 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Baxter International's current PB Ratio of 1.82 is 11% below 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Baxter International and its competitors. For the Medical Devices & Instruments industry, the median PB Ratio is 2.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Baxter International's current PB Ratio is 1.82, which is 52% below median its own 10-year median of 3.80. 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 (WBO:BAX) is currently considered Possible Value Trap. The stock's GF Value™ is €28.97, compared to a current price of €18.38 — trading 36.6% below its estimated fair value. The current PB Ratio is 1.82, which is 52% below median its 10-year median of 3.80 and 11% below the Medical Devices & Instruments industry median of 2.05. Baxter International's overall GF Score™ is 56/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Baxter International (WBO:BAX), the current PB Ratio is 1.82 as of Jun. 25, 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 (WBO:BAX) Overvalued in 2026?
Based on GuruFocus' analysis, Baxter International stock appears to be undervalued.
The current stock price of €18.38 is trading 36.6% below its estimated GF Value™ of €28.97.
GuruFocus considers Baxter International to be Possible Value Trap.
Key valuation signals for WBO:BAX:
PB Ratio: 1.82 (52% below median its 10-year median of 3.80)
GF Value™: €28.97 vs. price of €18.38 (36.6% below fair value)
Industry Position: 11% below the Medical Devices & Instruments median (#344 of 788)
No single metric tells the full story. See the WBO: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.
56GF Score
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