Baxter International Inc

BAX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	P^c	LOCK\|!M&?S	LOCK\|X$

Baxter's Moat Still Narrow, Despite Recent Bad Capital Allocation Decisions

Julie Utterback

Nov 20, 2024

Business Strategy and Outlook

Although the 2015 Baxalta spinoff was successful, Baxter's financial results fell substantially in 2022-23 on external pressures, such as inflation and weak medical utilization trends. With medical utilization rising and supply chain pressures easing, we suspect Baxter's financial prospects will improve, especially in 2025 and beyond, as Baxter renegotiates significant contracts with group purchasing organizations.

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Baxter International Inc

Baxter's Moat Still Narrow, Despite Recent Bad Capital Allocation Decisions

Business Strategy and Outlook

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