Question 1

What is Baxter International's P/S ratio?

Accepted Answer

Baxter International (BAX) P/S ratio is 0.9× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Baxter International?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Baxter International specifically, the relevant sector benchmark is the current sector median of 3.5×.

Question 5

Is Baxter International's P/S ratio high or low?

Accepted Answer

Baxter International's P/S ratio of 0.9× is below its own 5-year average of 1.8× and below the sector median of 3.5×. That places the current reading at the 7th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Baxter International's historical P/S ratio range?

Accepted Answer

In the available daily series, Baxter International (BAX) P/S ratio has ranged from a low of 0.7× in 2026 to a high of 4.0× in 2019. The 5-year average is 1.8× and the 5-year median is 1.6×.

Question 7

What was Baxter International's P/S ratio in 2025?

Accepted Answer

Baxter International (BAX) P/S ratio at the end of 2025 was 0.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does Baxter International's P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$9.82B	$11.24B	0.9×	-0.5×	Dec 31, 2025
2024	$14.87B	$10.64B	1.4×	-0.0×	Dec 31, 2024
2023	$19.60B	$13.70B	1.4×	-0.3×	Dec 31, 2023
2022	$25.69B	$14.80B	1.7×	-1.6×	Dec 31, 2022
2021	$43.01B	$12.78B	3.4×	-0.1×	Dec 31, 2021
2020	$40.92B	$11.67B	3.5×	-0.2×	Dec 31, 2020
2019	$42.40B	$11.36B	3.7×	+0.6×	Dec 31, 2019
2018	$34.75B	$11.12B	3.1×	-0.2×	Dec 31, 2018
2017	$35.10B	$10.56B	3.3×	+1.0×	Dec 31, 2017
2016	$23.99B	$10.16B	2.4×	+0.3×	Dec 31, 2016
2015	$20.87B	$9.97B	2.1×	+0.7×	Dec 31, 2015
2014	$21.58B	$15.18B	1.4×	+0.1×	Dec 31, 2014
2013	$20.51B	$15.20B	1.4×	-0.0×	Dec 31, 2013
2012	$19.84B	$14.19B	1.4×	+0.3×	Dec 31, 2012
2011	$15.11B	$13.89B	1.1×	-0.1×	Dec 31, 2011
2010	$15.87B	$12.84B	1.2×	-0.3×	Dec 31, 2010
2009	$19.19B	$12.56B	1.5×	+0.1×	Dec 31, 2009
2008	$17.84B	$12.35B	1.4×	-0.3×	Dec 31, 2008
2007	$19.93B	$11.26B	1.8×	+0.2×	Dec 31, 2007
2006	$16.38B	$10.38B	1.6×	+0.2×	Dec 31, 2006
2005	$13.11B	$9.85B	1.3×	+0.1×	Dec 31, 2005
2004	$11.61B	$9.51B	1.2×	+0.1×	Dec 31, 2004
2003	$10.15B	$8.91B	1.1×	+0.0×	Dec 31, 2003
2002	$9.10B	$8.04B	1.1×	-1.1×	Dec 31, 2002
2001	$17.48B	$7.66B	2.3×	—	Dec 31, 2001


Pfizer (PFE)	2.5×
Zimmer Biomet Holdings (ZBH)	2.1×
AptarGroup (ATR)	2.1×
Becton, Dickinson and (BDX)	2.1×
Charles River (CRL)	1.9×
Quest Diagnostics (DGX)	1.9×
IQVIA (IQV)	1.7×
GE HealthCare (GEHC)	1.6×
Labcorp Holdings (LH)	1.6×
HCA Healthcare (HCA)	1.4×
Solventum (SOLV)	1.4×
Viatris (VTRS)	1.1×
DaVita (DVA)	0.7×
Henry Schein (HSIC)	0.6×
Universal Health Services (UHS)	0.6×
UnitedHealth Group (UNH)	0.5×
Elevance Health (ELV)	0.3×
McKesson (MCK)	0.3×
Cigna (CI)	0.3×
CVS Health (CVS)	0.2×
Cardinal Health (CAH)	0.2×
Cencora (COR)	0.2×
Humana (HUM)	0.2×
Molina Healthcare (MOH)	0.2×
Centene (CNC)	0.1×

P/S Ratio for Baxter International (BAX)

P/S Ratio daily chart for Baxter International (BAX)

Historical P/S Ratio for Baxter International (BAX) from 2001 to 2025

About P/S Ratio at Baxter International (BAX)

Baxter International P/S Ratio by Year

Baxter International P/S Ratio 2025: 0.9×

Baxter International P/S Ratio 2024: 1.4×

Baxter International P/S Ratio 2023: 1.4×

Baxter International P/S Ratio 2022: 1.7×

Baxter International P/S Ratio 2021: 3.4×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Baxter International (BAX) Key Financials

P/S Ratio daily chart for Baxter International (BAX)

Historical P/S Ratio for Baxter International (BAX) from 2001 to 2025

About P/S Ratio at Baxter International (BAX)

Baxter International P/S Ratio by Year

Baxter International P/S Ratio 2025: 0.9×

Baxter International P/S Ratio 2024: 1.4×

Baxter International P/S Ratio 2023: 1.4×

Baxter International P/S Ratio 2022: 1.7×

Baxter International P/S Ratio 2021: 3.4×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

+What is Baxter International's P/S ratio?

+How is the P/S ratio calculated?

+What is the P/S ratio?

+What is a good P/S ratio for Baxter International?

+Is Baxter International's P/S ratio high or low?

+What is Baxter International's historical P/S ratio range?

+What was Baxter International's P/S ratio in 2025?

+Why does Baxter International's P/S ratio change over time?

Baxter International (BAX) Key Financials