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Baxter International BAX Net debt / EBITDA

Net debt / EBITDA at other companies

Becton, Dickinson and Company logo
Becton, Dickinson and CompanyBDX
2.9×-1.0×
Stryker logo
StrykerSYK
1.9×-1.3×
The Cooper Companies, Inc. logo
The Cooper Companies, Inc.COO
3.3×+1.1×
Medtronic logo
MedtronicMDT
2.9×-0.2×
STERIS logo
STERISSTE
-0.6×
Medline, Inc.
 logo
Medline, Inc. MDLN
5.3×

Other financials

Income statement

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Revenue$2.7B+2.9%
Gross profit$891.0M+3.5%
Operating income$66.0M+13.8%
Net income-$15.0M-112%
EPS (diluted)-$0.03-112%

Balance sheet

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Cash & equivalents$2.0B-12.1%
Total debt$224.0M-8.9%
Total equity$6.0B-14.7%
Total assets$19.8B-6.8%

Cash flow

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Operating cash flow$213.0M+210%
CapEx$128.3M+15.0%
Free cash flow$83.0M-42.1%

Valuation

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Market cap$10.27B-50.6%
Enterprise value$8.48B-55.6%
P/S0.9×-1.0×

Profitability

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Gross margin30.1%-5.9pp
Operating margin-2.7%
Net margin-9.7%+62.5pp
FCF margin3%-2.4pp

Returns & leverage

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Return on equity-16.7%-76.7pp
Debt / equity0.0×
Current ratio1.9×-0.2×

Where this comes from

Calculated from Baxter International’s reported figures.

Based on the most recent quarter.

The official record: Baxter International’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Baxter International's net debt / EBITDA?
Baxter International (BAX) reported net debt / EBITDA of -2.7× in Q1 2026.
How has Baxter International's net debt / EBITDA changed year-over-year?
Baxter International's net debt / EBITDA decreased by 70.8% year-over-year, from -1.6× to -2.7×.
What is the long-term trend for Baxter International's net debt / EBITDA?
Over 4 years (2020 to 2025), Baxter International's net debt / EBITDA has grown at a 18.0% compound annual growth rate (CAGR), from -1.3× to -2.4×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.