What is Baxter International Inc worth?
With the base-case assumptions below, a discounted cash flow model on Baxter International Inc's reported free cash flow gives $10.75 per share. The share price was $25.82 on November 10, 2026, 140% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -5.5% | 10.0% | $7.56 | -71% |
| Base | -0.5% | 9.0% | $10.75 | -58% |
| Bull | 4.5% | 8.0% | $16.96 | -34% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $12.94 | $13.60 | $14.40 | $15.40 | $16.69 |
| 8.0% | $11.31 | $11.74 | $12.24 | $12.85 | $13.58 |
| 9.0% | $10.12 | $10.41 | $10.75 | $11.14 | $11.60 |
| 10.0% | $9.21 | $9.41 | $9.65 | $9.91 | $10.22 |
| 11.0% | $8.48 | $8.63 | $8.80 | $8.99 | $9.21 |
Where the presets come from
Base: years 1 to 5 grow at Baxter International Inc's revenue growth rate over the last 5 fiscal years (-0.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions