Baxter International management check
BAX · Health Care · Health Care Equipment · CEO Andrew P. Hider
Filings as of
1 good · 3 to watch · 3 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $27, against $148 for the peer group the company picked itself.
- Watch
Does pay follow performance?
Pay only loosely tracked returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.15 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Flag
What does the CEO cost owners?
Paid in a loss-making year$29.8m of reported pay in fiscal 2025, a year the company lost $957.0m.
- Watch
Do they own the stock?
CEO stake ≈ 0.4 years of payThe CEO holds 518,447 shares, directly or through trusts (unvested awards not counted): about 0.4 years of pay. No open-market insider buying or selling in the last six months.
- Watch
Are owners being diluted?
Share count growingDiluted shares changed +0.5% a year over the last three fiscal years. Stock-based pay was 1.0% of revenue in the latest year.
- Flag
Is leadership stable?
3 CEOs in the pay tableCEOs in the pay table: Mr. Almeida, Mr. Shafer, Mr. Hider. 16 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Health Care.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 0 | 26 | |
| Pay for performance | 57 | 85 | |
| CEO cost | 0 | 44 | |
| Skin in the game | 17 | 46 | |
| Dilution | 44 | 68 | |
| Stable leadership | 0 | 70 | |
| Clean books | 100 | 100 |
Closest peers
Others in Health Care Equipment, by management score. Baxter International is 60th of 60 in its sector.
- 115ABTAbbott Laboratories75
- 149SYKStryker Corporation72
- 156ISRGIntuitive Surgical72
- 188IDXXIdexx Laboratories69
- 192BSXBoston Scientific69
- 246RVTYRevvity64
- 256GEHCGE HealthCare64
- 294RMDResMed62
- 321STESteris60
- 353BDXBecton Dickinson58
Pay versus performance
From the proxy statement filed March 23, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Almeida, Mr. Shafer, Mr. Hider | $29.8m | $14.7m | $5.2m | $27 | $148 | −$957.0m |
| 2024 | — | $18.1m | $9.2m | $6.5m | $40 | $129 | −$638.0m |
| 2023 | — | $13.8m | $10.4m | $5.2m | $51 | $126 | $2.7bn |
| 2022 | — | $13.6m | −$9.1m | $6.7m | $66 | $124 | −$2.4bn |
| 2021 | — | $15.6m | $19.6m | $4.9m | $108 | $126 | $1.3bn |
The board says pay is tied most to et Sales From Continuing Operations. Its other key measures: Net Sales From Continuing Operations, Adjusted Earnings Per Share From Continuing Operations, Free Cash Flow From Continuing Operations, ROIC, Relative TSR.
Insiders and the CEO's stake
Andrew P. Hider (President and CEO) held 518,447 shares directly after their latest Form 4 on Sep 2, 2026, roughly $13.3m at that filing's price.
No open-market insider buying or selling in the last six months.
Leadership and governance on file
- Aug 19, 2026Leadership change8-K 5.02
- Aug 4, 2026Leadership change8-K 5.02
- May 8, 2026Leadership change8-K 5.02
- Mar 16, 2026Leadership change8-K 5.02
- Feb 12, 2026Leadership change8-K 5.02
- Nov 12, 2025Leadership change8-K 5.02
- Oct 21, 2025Leadership change8-K 5.02
- Jul 7, 2025Leadership change8-K 5.02
- Feb 3, 2025Leadership change8-K 5.02
- Feb 3, 2025Leadership change8-K 5.02
- Jan 31, 2025Leadership change8-K 5.02
- Nov 22, 2024Leadership change8-K 5.02
Latest shareholder vote results: May 8, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $3.3bn returned to owners in buybacks and dividends, and $632.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $12.1bn | $10.1bn | $10.4bn | $10.6bn | $11.2bn |
| Net income | $1.3bn | −$2.4bn | $2.7bn | −$649.0m | −$957.0m |
| Stock-based pay | $146.0m | $140.0m | $115.0m | $114.0m | $117.0m |
| Buybacks | $600.0m | $32.0m | $0 | $0 | — |
| Dividends | $530.0m | $573.0m | $586.0m | $590.0m | $348.0m |
| Diluted shares | 508m | 504m | 508m | 510m | 513m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.