investorscraft@gmail.com

Investor's Craft

S&P 500 Health CareS&P 500 EnergyS&P 500 Information Tech.S&P 500 Communic. ServicesS&P 500 Consumer Discret.S&P 500 Consumer StaplesS&P 500 IndustrialsS&P 500 Materials
IntroductionThe concept of valuationRevenue and revenue growthVariable costsFixed costsProduction assets

Intrinsic value of Baxter International Inc. (BAX)

Previous Close$73.23
Intrinsic Value$27.00
Upside potential  -63%
Previous Close
$73.23
Intrinsic Value
$27.00*
Potential        
-63%
Use floor (the cash flow based valuation has rendered a result, which is lower than an estimated minimum value derived from the company’s balance sheet analysis)

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Cash & ST Investments
Total debt
Market cap, m$
36,732

Based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %9.5NaN
Revenue, $12784NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m11074NaN
Operating income, $m1710NaN
EBITDA, $m2600NaN
Interest expense (income), $mNaN
Earnings before tax, $m1466NaN
Tax expense, $m182NaN
Net income, $m1284NaN

BALANCE SHEET

Cash and short-term investments, $m2956NaN
Total assets, $m33521NaN
Adjusted assets (=assets-cash), $m30565NaN
Average production assets, $m16825NaN
Working capital, $m4636NaN
Total debt, $m18310NaN
Total liabilities, $m24444NaN
Total equity, $m9077NaN
Debt-to-equity ratio2.017NaN
Adjusted equity ratio0.221NaN

CASH FLOW

Net income, $m1284NaN
Depreciation, amort., depletion, $m890NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m2222NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-743NaN
Free cash flow, $m2965NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m4636
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
HomeMenuAccount