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IntroductionThe concept of valuationRevenue and revenue growthVariable costsFixed costsProduction assets

Intrinsic value of Baxter International Inc. (BAX)

Previous Close$52.38
Intrinsic Value$27.00
Upside potential  -48%
Previous Close
$52.38
Intrinsic Value
$27.00*
Potential        
-48%
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 (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh26.67 27

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-09-30.

Registered users can save their valuation input data

  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.

Company description

Baxter International Inc., through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit. It also provides connected care solutions, including devices, software, communications, and integration technologies; integrated patient monitoring and diagnostic technologies to help diagnose, treat, and manage a various illness and diseases, including respiratory therapy, cardiology, vision screening, and physical assessment; surgical video technologies, tables, lights, pendants, precision positioning devices and other accessories. In addition, the company offers contracted services to various pharmaceutical and biopharmaceutical companies. Its products are used in hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, doctors' offices, and patients at home under physician supervision. The company sells its products through direct sales force, as well as through independent distributors, drug wholesalers, and specialty pharmacy or other alternate site providers in approximately 100 countries. It has an agreement with Celerity Pharmaceutical, LLC to develop acute care generic injectable premix and oncolytic molecules. Baxter International Inc. was incorporated in 1931 and is headquartered in Deerfield, Illinois.

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
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