Meridian™
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BAX · CIK 0000010456 · FY2025 live · 2025-12-31

BAXTER INTERNATIONAL INC

GreySEC 10-KClassic ZHealthcare76th percentile in Healthcare · 736 names

View as

Model

Classic Z

FY2025

1.96

Zone

Grey

Prior

—

Market DD

—

1y PD

—

1.96

Z″ 3.86

−21.83.08+

Score 1.96 · distress below 1.80, grey to 2.99, safe at 3.00 and above.

Classic Z factor contributions

  • X1 Working capital / assets

    Short-term liquidity versus the size of the balance sheet.

    0.19
    1.2 × = 0.23

  • X2 Retained earnings / assets

    Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.

    0.68
    1.4 × = 0.96

  • X3 EBIT / assets

    Operating return on assets. Highest weight in the original model.

    −0.02
    3.3 × = −0.05

  • X4 Book equity / liabilities

    Book equity versus the liability stack. Mega-caps often look greyer here than they would if X4 used market cap.

    0.44
    0.6 × = 0.26

  • X5 Sales / assets

    Asset turnover — how much revenue the asset base supports.

    0.56
    1 × = 0.56

Five-year path

Need two annual 10-Ks to draw a path. The desk will pull this issuer’s filings.

Meridian Rank

61.64

from 62.64

0–100 · Classic Z family

  • Book standing

    63

  • Year change

    —

  • Market PD

    —

  • O-score

    58

Events on this name

Same published rows as Today.

  • Large rank drop

    material · 72

    • Meridian Rank: 62.64 → 61.64

  • Approaching distress

    material · 56

    • Live score: — → 1.96
    • Cut: — → 1.80

Overview

rule-v1

BAXTER INTERNATIONAL INC is on classic Z at 1.96 (grey) for FY2025, from an SEC 10-K. Retained earnings / assets is the line that sets the print; sales / assets is the runner-up. This is the first live year on the desk. No market tape loaded. Classic Z was fit on manufacturers; buybacks can send retained earnings negative at otherwise healthy issuers, and X4 is book equity, not market cap.

Book screen Grey; market PD —. Market PD has not been priced on this name.

Market DD · naive Merton

No market tape yet.

Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.

Sector peers

Closest Classic Z scores · 76th percentile in Healthcare.

Filing line items

Current assets

$6.9B

Total assets

$20.1B

Current liabilities

$3.0B

Total liabilities

$14.0B

Working capital

$3.9B

Retained earnings

$13.7B

EBIT

−$308M

Total sales

$11.2B

Book equity

$6.1B

Accession 0001628280-26-007733. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Classic Z is the live score. View as is a display overlay. X4 is book equity. Pulled 13 Sept 2026.