Baxter International Inc. BAX NYSE

Baxter International Inc. (BAX) generated $845M in operating cash flow for fiscal year 2025. After capital expenditures of $522M, free cash flow was $323M.

Free cash flow margin was 2.9% of revenue. Cash conversion ratio was -0.88x, suggesting some earnings are non-cash.

The company returned $348M in dividends to shareholders during the period.

Criteria supported by this page:

• HEALTH (33/100, Fail) — weak cash flow raises concerns about debt servicing
• MOAT (49/100, Partial) — cash flow generation is present but not at levels indicating a wide moat
• INCOME (10/100) — Cash conversion ratio was -0.88x suggests some earnings are non-cash items

Overall SharesGrow Score: 43/100 with 2/7 criteria passed.