BAXTER INTERNATIONAL INC
BAXNYSEHealthcare · Surgical & Medical Instruments & Apparatus · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $11.24B | $10.64B | $10.36B | $10.06B | $12.15B | $11.67B |
| Operating income | −$308.0M | $14.0M | $707.0M | −$2.85B | $1.35B | $1.62B |
| Net income | −$957.0M | −$649.0M | $2.66B | −$2.43B | $1.28B | $1.10B |
| Total assets | $20.05B | $25.78B | $28.28B | $28.29B | $33.52B | $20.02B |
| Total liabilities | $13.95B | $18.76B | $19.81B | $22.39B | $24.40B | $11.29B |
| Equity | $6.13B | $6.96B | $8.40B | $5.83B | $9.08B | $8.69B |
| EPS (diluted) | $-1.87 | $-1.27 | $5.23 | $-4.83 | $2.53 | $2.13 |
| Shares out. | 511.6M | 507.8M | 504.7M | 502.3M | 505.1M | 507.3M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −2.7%
- Net margin
- −8.5%
- Return on equity
- −15.6%
- Return on assets
- −4.8%
- Return on capital (ROCE)
- −1.8%
- Liabilities / assets
- 69.6%
- Debt / equity
- 2.28×
- Book value / share
- $11.98
- Revenue growth (YoY)
- 5.7%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- 3.86safe
- Accruals / assets
- −9.0%clean
- Beneish M-Score
- -2.67normal
- Piotroski F-Score
- 5/9mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 1 severe● 2 warning● 4 good- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Operating losses (negative operating margin)
- Reported a net loss
- Revenue is growing year-over-year
- Positive operating cash flow
- Clean earnings (low accruals)
- Altman Z″ in the safe zone
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Kmissed a reporting deadline ↗Mar 3, 2020
- NT 10-Qmissed a reporting deadline ↗Nov 13, 2019
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Fmr LlcPassive (13G)May 6, 2026
- Vanguard Capital Management LlcPassive (13G)Apr 29, 2026
- Blackrock, Inc.Passive (13G)Apr 27, 2026
- Pzena Investment Management LlcPassive (13G)Apr 21, 2026
- Vanguard Group IncPassive (13G)Mar 26, 2026
- Blackrock Portfolio Management LlcPassive (13G)Jan 21, 2026
- Dodge & CoxPassive (13G)Nov 13, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 40.4M | 5.6 | +15.0% |
| Apr 30, 2026 | 35.1M | 4.0 | -6.5% |
| Apr 15, 2026 | 37.5M | 5.9 | -6.9% |
| Mar 31, 2026 | 40.3M | 4.2 | +6.9% |
| Mar 13, 2026 | 37.7M | 3.8 | -1.7% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Director / officer change · Amended charter or bylaws · Shareholder voteMay 8, 2026
- Results of operations · Other material eventApr 30, 2026
- Regulation FD disclosureMar 19, 2026
- Director / officer change · Regulation FD disclosureMar 16, 2026
- Results of operations · Director / officer change · Other material eventFeb 12, 2026
- Other material eventDec 22, 2025
- Entered a material agreement · Terminated a material agreement · New financial obligation · Other material eventDec 4, 2025
- Entered a material agreementNov 25, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Corporate family
Spin-offs from BAXTER INTERNATIONAL INC (1)
- Baxalta InccompletedJul 1, 2015details
From the spin-off filings we track. Follow a company to walk its own history.
Event-driven situations (2)
Spot an error in this record? Report it. Every correction is verified against the source filing before we change anything.