BAX vs BDX vs FENC Stock Comparison

Baxter International, Becton Dickinson and Fennec Pharmaceuticals Prices as of Oct 29, 2026 Peers: Industry group
BAX Baxter International Inc
$23.49 0.0% 1M +4.8% 1Y
Market cap
$11.76B
P/E
–
Revenue (TTM)
$11.61B
Div. yield
0.01%
Medical Supplies Healthcare
1 win
BDX Becton Dickinson & Co
$198.32 +8.9% 1M +9.3% 1Y
Market cap
$54.64B
P/E
58.1x
Revenue (TTM)
$23.25B
Div. yield
–
Medical Supplies Healthcare
5 wins

Head to Head

10 decided of 12

Becton Dickinson leads on 5 of the 12 questions below (Becton Dickinson 5, Fennec Pharmaceuticals 4, Baxter International 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBAXBDXFENCLeader
Larger companyMarket capitalisation $11.76B $54.64B $364.10M BDX
Cheaper on earningsLower P/E, profitable companies only -16.3x 58.1x -55.1x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 11.9x 15.3x 37.8x BAX
Faster revenue growthRevenue growth, trailing twelve months +5.3% +17.4% +61.4% FENC
More profitableNet margin, trailing twelve months -6.2% 4.0% -12.3% BDX
Better return on capitalReturn on invested capital -1.4% 5.3% — BDX
Less leveragedLower net debt / EBITDA 9.0x 3.2x — BDX
Higher dividend yieldTrailing dividend yield 0.01% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +4.8% +9.3% +29.3% FENC
Better 5-year returnAnnualised price return, 5 years -21.5%/yr -3.7%/yr +3.4%/yr FENC
Less volatileAnnualised volatility, 1 year 45.1% 31.8% 64.1% BDX
Higher overall scoreMean of the five percentile scores vs peers 44/100 68/100 73/100 FENC

Percentile Scorecard

BAXBDXFENC

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisBAXBDXFENC
Valuation 89 #25 of 227 90 #23 of 227 58 #265 of 624
Growth 14 #187 of 218 48 #114 of 218 94 #40 of 601
Profitability 66 #69 of 202 80 #42 of 202 85 #84 of 541
Financial Health 19 #189 of 233 28 #168 of 233 57 #277 of 647
Shareholder Returns 33 #87 of 130 95 #8 of 130 –
Overall 44 68 73
  • BAX ranked among 247 companies in Medical Devices and Diagnostics
  • BDX ranked among 247 companies in Medical Devices and Diagnostics
  • FENC ranked among 671 companies in Pharmaceuticals and Biotechnology

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodBAXBDXFENCSPY
1 month 0.0%+8.9%+1.4% +0.7%
3 months -12.2%+19.8%+10.5% +3.7%
6 months +33.6%+33.1%+68.7% +7.1%
Year to date +22.9%+2.2%+42.2% +12.8%
1 year +4.8%+9.3%+29.3% +11.9%
3 years -26.7%-21.0%+59.2% +85.2%
3 years, per year -9.8%-7.6%+16.8% +22.8%
5 years -70.3%-17.2%+18.3% +67.6%
5 years, per year -21.5%-3.7%+3.4% +10.9%
10 years -50.2%+18.2%+444.8% +262.0%
10 years, per year -6.7%+1.7%+18.5% +13.7%

Risk

MeasureBAXBDXFENCSPY
Volatility, 1Y 45.1%31.8%64.1% 12.7%
Downside volatility, 1Y 49.5%33.1%59.9% 12.6%
Beta vs S&P 500, 1Y 1.180.331.33 1.00
Return / volatility, 1Y 0.110.290.46 0.94
Max drawdown, 5Y -82.3%-50.4%-65.6% -25.4%
From 52-week high -17.1%-5.6%-14.3% -1.2%
52-week high $28.35$210.02$12.78 $779.14
52-week low $15.80$140.71$5.77 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleBAXBDXFENC
P/E now vs peer median -16.8xmedian 28.7x 57.9xmedian 28.7x -57.3xmedian 17.8x
P/S now vs peer median 1.0xmedian 3.0x 2.3xmedian 3.0x 7.1xmedian 9.1x
EV/EBITDA now vs peer median 25.6xmedian 17.8x 14.1xmedian 17.8x —median 15.0x
P/FCF now vs peer median 10.5xmedian 26.4x 16.9xmedian 26.4x —median 21.7x
P/B now vs peer median 1.9xmedian 2.4x 2.2xmedian 2.4x 9.0xmedian 2.2x
PEG now vs peer median 0.53median 0.99 -3.97median 0.99 -1.34median 0.35

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsBAXBDXFENC
Revenue $11.61B $23.25B $53.77M
Gross profit $3.49B $10.91B $49.65M
Operating income -$221.00M $2.48B -$3.74M
Net income -$723.00M $941.00M -$6.60M
Free cash flow $1.16B $3.20B –
R&D $519.00M $1.37B $274.00K
EPS (diluted) $-1.39 $3.42 $-0.18
Cash & equivalents $1.98B $708.00M $41.25M
Total debt $8.60B $72.81B –
Shares (diluted) 520.00M 275.16M 36.43M
Enterprise value $3.64B $51.79B $245.42M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricBAXBDXFENC
P/E -16.8x 57.9x -57.3x
P/FCF 10.5x 16.9x –
P/Operating cash flow 7.3x 13.7x –
P/S 1.0x 2.3x 7.1x
P/B 1.9x 2.2x 9.0x
P/Tangible book 4.7x 2.3x 9.0x
EV/EBITDA 25.6x 14.1x –
EV/EBIT -84.9x 28.3x -91.6x
EV/Revenue 1.6x 3.0x 6.4x
EV/FCF 16.2x 21.9x –
EV/Operating cash flow 11.3x 17.7x –
PEG (3Y EPS CAGR) 0.53 -3.97 -1.34

Growth

14 metrics
MetricBAXBDXFENC
Revenue growth (1Y) 5.3% 17.4% 61.4%
Revenue CAGR (3Y) 0.7% 6.9% 118.1%
Gross profit growth (1Y) -7.1% 23.7% 65.9%
Gross profit CAGR (3Y) -7.7% 8.5% –
Operating income growth (1Y) -136.3% 13.0% 61.4%
Operating income CAGR (3Y) 4.2% 3.3% 46.2%
Net income growth (1Y) -112.0% -40.6% 45.1%
Net income CAGR (3Y) -31.6% -17.3% 37.0%
EPS growth (1Y) -109.6% -38.0% 58.3%
EPS CAGR (3Y) -31.5% -14.6% 42.6%
Operating cash flow growth (1Y) 97.4% 43.5% –
Operating cash flow CAGR (3Y) 0.6% 14.5% –
Free cash flow growth (1Y) 243.5% 54.2% –
Free cash flow CAGR (3Y) -5.0% 22.5% –

Profitability

14 metrics
MetricBAXBDXFENC
Gross margin 30.1% 46.9% 92.4%
EBITDA margin 6.3% 21.4% –
Operating margin -1.9% 10.7% -7.0%
Pretax margin -1.6% 8.4% -8.2%
Net margin -6.2% 4.0% -12.3%
FCF margin 10.0% 13.8% –
Operating cash flow margin 14.3% 17.0% –
Return on equity -11.4% 3.9% -11.4%
Return on assets -3.7% 1.9% -6.1%
Return on invested capital -1.4% 5.3% –
Return on capital employed -1.4% 6.0% -6.2%
Asset turnover 0.6x 0.5x 0.7x
Cash conversion (OCF / net income) -2.3x 4.2x –
Stock comp / revenue 0.9% 1.2% 14.8%

Financial Health

11 metrics
MetricBAXBDXFENC
Debt / assets 44.3% 33.1% –
Debt / equity 1.3x 0.7x –
Net debt / EBITDA 9.0x 3.2x –
Debt / FCF 7.4x 5.2x –
Liabilities / assets 66.5% 51.9% 44.0%
Equity / assets 33.5% 48.1% 56.0%
Interest coverage – 4.2x -2.5x
Current ratio 1.8x 0.9x 5.8x
Quick ratio 1.0x 0.3x 5.2x
Cash ratio 0.5x 0.1x 3.3x
Altman Z-score 2.33 2.30 4.21

Shareholder Returns

7 metrics
MetricBAXBDXFENC
Dividend yield 0.2% 2.1% –
Net buyback yield -0.2% 4.6% –
Shareholder yield 0.0% 6.7% –
Payout ratio (earnings) -14.1% – –
Payout ratio (FCF) 8.8% – –
Dividend growth (1Y) -75.0% – –
Dividend CAGR (3Y) -44.1% – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusBAXBDXFENC
Forward P/E 11.9xFY2026 15.3xFY2026 37.8xFY2026
EPS, next fiscal year $1.98FY2026 $12.99FY2026 $0.29FY2026
EPS growth, next FY -10.4%FY2026 +14.8%FY2026 –
EPS growth, the year after -3.5% -2.9% +241.4%
Revenue, next fiscal year $11.05BFY2026 $18.11BFY2026 $75.58MFY2026
Revenue growth, next FY -1.7%FY2026 -17.1%FY2026 +69.3%FY2026
Revenue growth, the year after +11.7% +11.6% +28.3%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBAXBDXFENC
Held by institutions 100.0% 96.1% 46.6%
Institutions holding 691 1,443 107
Change in shares held, QoQ +5.2% +0.6% +0.7%
Institutions buying 359 688 71
Institutions selling 193 544 19
Buyers to sellers 1.86 1.26 3.74

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

BAXBDXFENC
BAX 1.00 0.39 0.16
BDX 0.39 1.00 0.09
FENC 0.16 0.09 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, BAX, BDX and FENC?

Becton Dickinson (BDX) is the largest by market capitalisation: Baxter International (BAX) $11.76B, Becton Dickinson (BDX) $54.64B, Fennec Pharmaceuticals (FENC) $364.10M.

Which company is growing faster?

Fennec Pharmaceuticals (FENC) grew revenue fastest over the trailing twelve months: Baxter International (BAX) +5.3%, Becton Dickinson (BDX) +17.4%, Fennec Pharmaceuticals (FENC) +61.4%.

Which company is more profitable?

Becton Dickinson (BDX) has the highest net margin (Baxter International (BAX) -6.2%, Becton Dickinson (BDX) 4.0%, Fennec Pharmaceuticals (FENC) -12.3%). On return on invested capital, Becton Dickinson (BDX) leads (Baxter International (BAX) -1.4%, Becton Dickinson (BDX) 5.3%).

Which stock has performed better?

Over the past year Fennec Pharmaceuticals (FENC) returned the most: Baxter International (BAX) +4.8%, Becton Dickinson (BDX) +9.3%, Fennec Pharmaceuticals (FENC) +29.3%. Over five years, Fennec Pharmaceuticals (FENC) compounded fastest (Baxter International (BAX) -21.5%/yr, Becton Dickinson (BDX) -3.7%/yr, Fennec Pharmaceuticals (FENC) +3.4%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Baxter International (BAX) 0.01%, Becton Dickinson (BDX) 0.00%, Fennec Pharmaceuticals (FENC) 0.00%. Becton Dickinson (BDX) and Fennec Pharmaceuticals (FENC) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Becton Dickinson (BDX) has been the steadiest (Baxter International (BAX) 45.1%, Becton Dickinson (BDX) 31.8%, Fennec Pharmaceuticals (FENC) 64.1%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, BAX, BDX and FENC?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Becton Dickinson (BDX) leads on 5. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.