Baxter International Inc. (NYSE:BAX) reported a strong first quarter in 2025, with earnings per share (EPS) of $0.62 and revenue of approximately $2.63 billion.
Despite these challenges, Baxter’s debt-to-equity ratio of 1.93 and a current ratio of approximately 1.36 indicate a level of financial stability.

Baxter International Inc. (NYSE:BAX) is a prominent player in the global medtech industry, known for its innovative medical devices and solutions. The company specializes in products like intravenous (IV) solutions and patient-monitoring systems, which have been in high demand. Baxter’s strong market presence is reflected in its recent financial performance, where it exceeded Wall Street expectations.
On May 1, 2025, Baxter reported earnings per share (EPS) of $0.62, surpassing the estimated $0.48. This indicates a robust performance in the first quarter of 2025, ending in March. The company’s revenue also exceeded expectations, reaching approximately $2.63 billion compared to the estimated $2.59 billion. This growth is largely driven by the strong demand for its medical devices.
Baxter’s financial health is also reflected in its debt and liquidity ratios. The debt-to-equity ratio stands at about 1.93, indicating a higher level of debt compared to equity. However, the current ratio of approximately 1.36 suggests that Baxter has a reasonable level of liquidity to cover its short-term liabilities, providing some financial stability.
The company’s enterprise value to sales ratio is approximately 2.35, and the enterprise value to operating cash flow ratio is around 32.61. These metrics provide insight into Baxter’s valuation relative to its sales and cash flow generation. Baxter’s ongoing transformation journey, as highlighted by Brent Shafer, positions it well to deliver increased value to its stakeholders.