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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Baxter InternationalBAX +1.02%68 Shiller PE Ratio is 21.17 as of Sep. 06, 2026, which is 34% above its 10-year median of 15.79. GuruFocus rates BAX with a GF Score™ of 68/100 and a GF Value™ of $33.02 (Modestly Undervalued). The stock has 9 warning signs investors should review. Among 311 Medical Devices & Instruments companies, Baxter International ranks better than 56.91% on this metric.
The historical rank and industry rank for Baxter International's Shiller PE Ratio or its related term are showing as below:
BAX'
s Shiller PE Ratio Range Over the Past 10 Years
Min: 6.97 Med: 15.79 Max: 24.01
Current: 21.17
During the past years, Baxter International's highest Shiller PE Ratio was 24.01. The lowest was 6.97. And the median was 15.79.
BAX's Shiller PE Ratio is ranked better than 56.91% of 311
companies
in the Medical Devices & Instruments industry
Industry Median: 25.89
vs BAX: 21.17
E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.
Baxter International's adjusted earnings per share data for the three months ended in Jun. 2026 was $0.240. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $1.22 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Baxter International (NYSE:BAX) Shiller PE Ratio Explanation
Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.
Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.
Be Aware
Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.
Baxter International Shiller PE Ratio Related Terms
Baxter International Shiller PE Ratio Historical Data
* Premium members only.
The historical data trend for Baxter International's Shiller PE 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.
BAX vs COO, SOLV, ALGN: Shiller PE Ratio Comparison
For the Medical Instruments & Supplies subindustry, Baxter International's Shiller PE Ratio, along with its competitors' market caps and Shiller PE 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 Shiller PE Ratio vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Baxter International's Shiller PE Ratio distribution charts can be found below:
* The bar in red indicates where Baxter International's Shiller PE Ratio falls into.
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.
* 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.
Add all the adjusted EPS together and divide 10 will get our E10.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
Baxter International (BAX) has a Shiller PE Ratio of 21.17 as of Sep. 06, 2026. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Baxter International and its competitors. This is 34% above median its historical median of 15.79. Over the past decade, Baxter International's Shiller PE Ratio has ranged from 6.97 to 24.01. According to the industry distribution chart, Baxter International ranks #134 out of 311 companies in the Medical Devices & Instruments industry, placing it in the top 43.1%.
Is Baxter International's Shiller PE Ratio too high?
Baxter International's current Shiller PE Ratio of 21.17 is 34% above median its 10-year median of 15.79. Over the past 10 years, this metric has ranged from a low of 6.97 to a high of 24.01. The Medical Devices & Instruments industry median Shiller PE Ratio is 25.89. Baxter International's value of 21.17 is 18.2% below this industry median. Based on the distribution chart, Baxter International ranks #134 out of 311 companies in the Medical Devices & Instruments industry, which is above the industry midpoint. Overall, Baxter International has a GF Score™ of 68/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Baxter International's Shiller PE Ratio compare to COO and SOLV?
According to the Medical Devices & Instruments industry distribution chart, Baxter International ranks #134 out of 311 companies for Shiller PE Ratio. This puts Baxter International in the upper half of its industry. The industry median Shiller PE Ratio is 25.89. Baxter International's value of 21.17 is 18.2% below this benchmark. Historically, Baxter International's own Shiller PE Ratio has ranged from 6.97 to 24.01 over the past decade. While the company's 10-year median is 15.79 vs. the industry median of 25.89, 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 Shiller PE Ratio for a Medical Devices & Instruments company?
The median Shiller PE Ratio among Medical Devices & Instruments companies is 25.89, based on 311 companies in the industry. Companies in the top quartile (top 25%) have a Shiller PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Shiller PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Baxter International's current Shiller PE Ratio of 21.17 is 18.2% 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 Shiller PE Ratio mean?
A high Shiller PE Ratio can signal that a stock is expensive relative to its fundamentals. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Baxter International and its competitors. For the Medical Devices & Instruments industry, the median Shiller PE Ratio is 25.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Baxter International's current Shiller PE Ratio is 21.17, which is 34% above median its own 10-year median of 15.79. 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 Modestly Undervalued. The stock's GF Value™ is $33.02, compared to a current price of $25.83 — trading 21.8% below its estimated fair value. The current Shiller PE Ratio is 21.17, which is 34% above median its 10-year median of 15.79 and 18.2% below the Medical Devices & Instruments industry median of 25.89. Baxter International's overall GF Score™ is 68/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shiller PE Ratio calculated?
Shiller PE Ratio is calculated from a company's financial statements. For Baxter International (BAX), the current Shiller PE Ratio is 21.17 as of Sep. 06, 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 $25.83 is trading 21.8% below its estimated GF Value™ of $33.02.
GuruFocus considers Baxter International to be Modestly Undervalued.
Key valuation signals for BAX:
Shiller PE Ratio: 21.17 (34% above median its 10-year median of 15.79)
GF Value™: $33.02 vs. price of $25.83 (21.8% below fair value)
Industry Position: 18.2% below the Medical Devices & Instruments median (#134 of 311)
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.
68GF Score
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