# Baxter International (BAX) Forecast Calculator

Interactive five-year financial forecast and DCF for Baxter International. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/baxter-international/forecast
- Industry: Healthcare
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 11362000000 | 1408000000 | 2561000000 | 1001000000 |
| 2022 | 11673000000 | 1159000000 | 2439000000 | 1102000000 |
| 2023 | 12146000000 | 1531000000 | 2217000000 | 1284000000 |
| 2024 | 10057000000 | 834000000 | -1773000000 | -2433000000 |
| 2025 | 10360000000 | 1294000000 | 1691000000 | 2656000000 |

## Frequently asked questions

### What is Baxter International's core business focus after recent divestitures?

Following recent divestitures, Baxter International is a global medical technology company focused on critical care, surgical products, and patient monitoring. Its portfolio includes Medical Products & Therapies, Healthcare Systems & Technologies, and Pharmaceuticals segments.

### What are the primary revenue segments for Baxter International?

Baxter International's continuing revenue is primarily driven by its Medical Products & Therapies segment (approximately 45%), Healthcare Systems & Technologies (approximately 40%), and Pharmaceuticals (approximately 15%). The company also generates significant international sales, comprising roughly 45% of total revenue.

### What is the assumed revenue growth rate in the Baxter International financial model?

The financial model for Baxter International incorporates a revenue growth assumption of approximately -2.28%. This figure is a critical input for projecting the company's future financial performance over the forecast horizon.

### What is Baxter International's typical capital expenditure as a percentage of revenue?

Baxter International typically allocates 4% to 5% of its revenue to capital expenditures. Approximately 60% of this is for maintenance, while 40% is for growth initiatives like upgrading IV manufacturing and expanding advanced surgery product capacity.

### What is the main purpose of the Baxter International financial model?

The Baxter International financial model serves as a sum-of-the-parts equity valuation and cash flow forecasting tool. It enables analysts to assess the company's standalone earnings power and its deleveraging trajectory after the Kidney Care business divestiture.

### Can I access a downloadable financial model for Baxter International?

Yes, an Excel financial model for Baxter International is available for download. This general corporate model provides a forecast horizon from FY2026 through FY2030.