Last 48 quarters of trend data · Healthcare · Medical - Instruments & Supplies
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
EV/EBITDA has compressed 35.8% YoY to 13.5x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -11.37 | — | — | — | 42.06 | 34.23 | — | 35.16 | — | 147.18 | 20.14 | 1.91 | — |
| — | — | — | — | — | -76.7% | — | +1737.1% | — | +30.6% | -43.1% | — | — | |
| P/S Ratio | 0.91 | 0.80 | 0.83 | 1.03 | 1.38 | 1.68 | 1.35 | 1.80 | 1.58 | 2.19 | 1.26 | 1.84 | 1.55 |
| — | -52.2% | -38.9% | -42.7% | -12.5% | -23.4% | +7.1% | -2.2% | +1.8% | +49.5% | -24.1% | -2.1% | -31.5% | |
| P/B Ratio | 1.67 | 1.44 | 1.61 | 1.62 | 2.13 | 2.49 | 2.12 | 2.45 | 2.21 | 2.65 | 2.31 | 2.34 | 4.09 |
| — | -42.3% | -24.0% | -33.7% | -3.6% | -5.8% | -8.5% | +4.5% | -45.9% | -23.5% | -47.2% | -51.8% | +11.7% | |
| P/FCF | 31.79 | — | 5.53 | 23.22 | 57.22 | — | 10.59 | 21.22 | — | 102.82 | 14.37 | 13.59 | 30.66 |
| — | — | -47.8% | +9.4% | — | — | -26.3% | +56.2% | — | +522.0% | -46.8% | -74.2% | -48.5% | |
| EV / EBITDA | 27.20 | 13.47 | — | 12.04 | 13.17 | 20.99 | — | 19.08 | 17.43 | 21.34 | 11.73 | 27.93 | 32.09 |
| — | -35.8% | — | -36.9% | -24.4% | -1.6% | — | -31.7% | -45.7% | +5.4% | -22.0% | — | +62.6% | |
| EV / EBIT | — | 61.83 | — | 26.04 | 28.78 | 82.08 | — | 45.90 | 32.02 | 55.27 | 21.57 | 37.84 | — |
| — | -24.7% | — | -43.3% | -10.1% | +48.5% | — | +21.3% | — | -12.9% | -27.1% | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Baxter International Inc.'s operating margin was 2.4% in Q1 2026, up 27.0 pp QoQ and up 0.2 pp YoY. The trailing four-quarter average of -2.3% lags the current quarter, suggesting the recent improvement is above-trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.1% | 33.0% | 19.4% | 33.5% | 35.3% | 32.8% | 34.8% | 38.3% | 38.3% | 38.6% | 37.9% | 40.6% | 30.0% |
| — | +0.6% | -44.3% | -12.4% | -7.8% | -15.0% | -8.1% | -5.8% | +27.7% | +6.3% | +0.7% | +40.3% | -21.4% | |
| Operating Margin | -2.7% | 2.4% | -24.5% | 6.1% | 6.8% | 2.2% | -15.8% | 5.7% | 6.6% | 4.6% | 8.5% | 6.9% | -0.5% |
| — | +10.6% | -55.1% | +5.6% | +2.3% | -52.2% | -286.6% | -16.6% | +1548.8% | +25.8% | -6.8% | +108.6% | -106.2% | |
| Net Margin | -8.5% | -0.6% | -37.9% | -1.6% | 3.2% | 4.8% | -18.6% | 5.2% | -11.7% | 1.5% | 6.3% | 96.5% | -3.8% |
| — | -111.6% | -103.9% | -131.3% | +127.8% | +223.0% | -394.9% | -94.6% | -206.4% | +18.6% | +35.4% | +218.6% | -154.2% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -14.6% | -0.2% | -16.9% | -0.6% | 1.3% | 1.8% | -6.8% | 1.8% | -3.9% | 0.4% | 2.9% | 36.4% | -2.4% |
| — | -113.8% | -147.6% | -135.4% | +132.2% | +304.1% | -332.3% | -95.1% | -61.6% | -40.4% | -6.6% | +189.6% | -187.1% | |
| ROA | -4.2% | -0.1% | -5.5% | -0.2% | 0.4% | 0.5% | -2.0% | 0.5% | -1.2% | 0.1% | 0.8% | 8.6% | -0.5% |
| — | -114.1% | -181.1% | -141.4% | +137.0% | +305.5% | -334.8% | -93.8% | -131.2% | -15.1% | +29.2% | +187.2% | -164.3% | |
| ROIC | -1.4% | 0.4% | -3.8% | 0.8% | 0.9% | 0.3% | -1.7% | 0.6% | 0.7% | 0.4% | 1.3% | 0.7% | -0.1% |
| — | +39.2% | -121.2% | +40.6% | +34.6% | -41.9% | -233.5% | -10.1% | +1253.9% | -2.5% | +1.5% | +107.0% | -107.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Baxter International Inc.'s Debt/EBITDA ratio is 32.0x — elevated, raising questions about debt serviceability. The current ratio has weakened 8.3% YoY to 1.85x, tightening the short-term liquidity position. Debt/Equity has risen for 4 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.64 | 1.61 | 1.60 | 1.35 | 1.33 | 1.46 | 1.91 | 1.66 | 1.73 | 1.72 | 1.67 | 2.07 | 3.00 |
| — | +10.2% | -16.3% | -19.0% | -23.0% | -15.1% | +14.9% | -19.9% | -42.4% | -39.5% | -42.9% | -31.5% | +55.9% | |
| Debt / EBITDA | 14.86 | 31.97 | — | 23.75 | 21.71 | 33.80 | — | 32.26 | 32.86 | 36.71 | 21.61 | 62.47 | 56.78 |
| — | -5.4% | — | -26.4% | -33.9% | -7.9% | — | -48.4% | -42.1% | -3.9% | -13.7% | — | +100.9% | |
| Current Ratio | 2.31 | 1.85 | 2.31 | 1.84 | 2.30 | 2.02 | 1.36 | 1.43 | 1.40 | 1.48 | 1.48 | 1.94 | 1.42 |
| — | -8.3% | +70.2% | +28.5% | +63.8% | +36.8% | -7.9% | -26.2% | -1.5% | -13.2% | -12.6% | -8.0% | -29.3% | |
| Quick Ratio | 1.56 | 1.23 | 1.56 | 1.18 | 1.49 | 1.40 | 1.05 | 1.09 | 0.91 | 1.01 | 1.18 | 1.48 | 0.92 |
| — | -12.2% | +49.4% | +8.7% | +62.4% | +38.7% | -11.5% | -26.1% | -0.7% | -7.4% | +5.1% | +6.5% | -30.9% | |
| Interest Coverage | -0.74 | 1.00 | -9.96 | 2.78 | 2.85 | 0.96 | -4.21 | 1.68 | 2.13 | 1.45 | 3.03 | 1.47 | -0.39 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying BAX stock.
Baxter International Inc.'s current P/E is -11.4x. The average P/E over the last 1 quarters is 42.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Baxter International Inc.'s current operating margin is -2.7%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Baxter International Inc.'s business trajectory between earnings reports.