Baxter International Inc (BAX) is overvalued and Intuitive Surgical Inc (ISRG) is overvalued.
Both trade above our estimate of their intrinsic value. ISRG is the closer of the two: -130%, against -182% for BAX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.3% values the shares at $8.41; the price of $23.68 is 182% above that value, and 81% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
Discounting its cash flows at 11.7% (average of 3 methods) values the shares at $175.09; the price of $402.09 is 130% above that value, and 69% of that value comes from beyond year five.
Leak Score 47/100 on 8 of 12 signals
| Metric | BAX | ISRG |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $23.68 | $402.09 |
| Intrinsic value | $8.41 | $175.09 |
| Margin of safety | -182% | -130% |
| Leak Score | 0/100 (2/12) | 47/100 (8/12) |
| Market cap | $12.2B | $142.0B |
| Revenue growth, 5 years | -0.8% | 18.2% |
| Operating margin | 5.6% | 31.3% |
| Net margin | -8.6% | 28.4% |
| Return on equity | -14.3% | 17.4% |
| Debt to equity | 1.43 | 0.00 |
| P/E | — | 46.1x |
| Forward P/E | 11.6x | 33.3x |
| P/B | 2.0x | 7.8x |
| Dividend yield | 0.2% | — |