BAX vs BDX vs VTRS Stock Comparison

Baxter International, Becton Dickinson and Viatris Prices as of Oct 27, 2026 Peers: Industry group
BDX Becton Dickinson & Co
$194.95 +6.1% 1M +4.2% 1Y
Market cap
$53.74B
P/E
57.1x
Revenue (TTM)
$23.25B
Div. yield
–
Medical Supplies Healthcare
7 wins
VTRS Viatris Inc
$18.72 +5.0% 1M +79.7% 1Y
Market cap
$21.86B
P/E
–
Revenue (TTM)
$14.74B
Div. yield
–
Generic Drugs Healthcare
3 wins

Head to Head

10 decided of 12

Becton Dickinson leads on 7 of the 12 questions below (Becton Dickinson 7, Viatris 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBAXBDXVTRSLeader
Larger companyMarket capitalisation $13.21B $53.74B $21.86B BDX
Cheaper on earningsLower P/E, profitable companies only -12.4x 57.1x -53.2x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 12.6x 15.0x 7.1x VTRS
Faster revenue growthRevenue growth, trailing twelve months -49.1% +17.4% +4.4% BDX
More profitableNet margin, trailing twelve months -19.2% 4.0% -2.8% BDX
Better return on capitalReturn on invested capital 3.4% 5.3% -0.2% BDX
Less leveragedLower net debt / EBITDA 4.8x 3.2x 4.6x BDX
Higher dividend yieldTrailing dividend yield 0.01% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +7.6% +4.2% +79.7% VTRS
Better 5-year returnAnnualised price return, 5 years -20.5%/yr -4.0%/yr +7.0%/yr VTRS
Less volatileAnnualised volatility, 1 year 44.3% 31.9% 32.4% BDX
Higher overall scoreMean of the five percentile scores vs peers 44/100 68/100 66/100 BDX

Percentile Scorecard

BAXBDXVTRS

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

AxisBAXBDXVTRS
Valuation 83 #40 of 227 90 #23 of 227 93 #44 of 625
Growth 19 #177 of 219 49 #113 of 219 48 #314 of 602
Profitability 72 #58 of 206 79 #45 of 206 81 #104 of 551
Financial Health 19 #193 of 238 27 #175 of 238 23 #508 of 656
Shareholder Returns 26 #99 of 134 96 #7 of 134 85 #54 of 365
Overall 44 68 66
  • BAX ranked among 247 companies in Medical Devices and Diagnostics
  • BDX ranked among 247 companies in Medical Devices and Diagnostics
  • VTRS ranked among 672 companies in Pharmaceuticals and Biotechnology

Price Performance

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

Returns

PeriodBAXBDXVTRSSPY
1 month +6.6%+6.1%+5.0% -0.2%
3 months +2.3%+17.2%+4.8% +3.9%
6 months +38.9%+30.4%+26.3% +8.2%
Year to date +30.4%+0.5%+50.4% +12.9%
1 year +7.6%+4.2%+79.7% +12.3%
3 years -22.5%-22.5%+113.5% +87.4%
3 years, per year -8.2%-8.2%+28.8% +23.3%
5 years -68.3%-18.3%+40.4% +67.9%
5 years, per year -20.5%-4.0%+7.0% +10.9%
10 years -46.8%+16.6%-50.8% +261.1%
10 years, per year -6.1%+1.5%-6.8% +13.7%

Risk

MeasureBAXBDXVTRSSPY
Volatility, 1Y 44.3%31.9%32.4% 12.7%
Downside volatility, 1Y 48.0%33.0%29.6% 12.7%
Beta vs S&P 500, 1Y 1.160.340.70 1.00
Return / volatility, 1Y 0.170.132.46 0.97
Max drawdown, 5Y -82.3%-50.4%-52.9% -25.4%
From 52-week high -12.1%-7.2%0.0% -1.2%
52-week high $28.35$210.02$18.72 $779.14
52-week low $15.80$140.71$10.11 $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.

MultipleBAXBDXVTRS
P/E now vs peer median -12.1xmedian 29.6x 56.9xmedian 29.6x -53.0xmedian 17.2x
P/S now vs peer median 2.3xmedian 2.9x 2.3xmedian 2.9x 1.5xmedian 9.0x
EV/EBITDA now vs peer median 13.4xmedian 17.4x 13.9xmedian 17.4x 12.5xmedian 16.3x
P/FCF now vs peer median 15.4xmedian 22.3x 16.6xmedian 22.3x 11.0xmedian 18.7x
P/B now vs peer median 2.1xmedian 2.3x 2.2xmedian 2.3x 1.5xmedian 2.2x
PEG now vs peer median -0.42median 1.04 -3.90median 1.04 1.73median 0.33

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 monthsBAXBDXVTRS
Revenue $5.55B $23.25B $14.74B
Gross profit $3.78B $10.91B $5.13B
Operating income $532.00M $2.48B -$87.30M
Net income -$1.06B $941.00M -$410.70M
Free cash flow $839.00M $3.20B $1.95B
R&D $542.00M $1.37B $1.02B
EPS (diluted) $-2.05 $3.42 $-0.35
Cash & equivalents $2.15B $708.00M $886.50M
Total debt $9.46B $72.81B $13.35B
Shares (diluted) 518.00M 275.16M 1.16B
Enterprise value $5.34B $50.89B $16.88B

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
MetricBAXBDXVTRS
P/E -12.1x 56.9x -53.0x
P/FCF 15.4x 16.6x 11.0x
P/Operating cash flow 9.6x 13.4x 9.2x
P/S 2.3x 2.3x 1.5x
P/B 2.1x 2.2x 1.5x
P/Tangible book 6.0x 2.2x 36.8x
EV/EBITDA 13.4x 13.9x 12.5x
EV/EBIT 38.0x 27.9x -389.1x
EV/Revenue 3.6x 3.0x 2.3x
EV/FCF 24.1x 21.6x 17.4x
EV/Operating cash flow 15.0x 17.5x 14.6x
PEG (3Y EPS CAGR) -0.42 -3.90 1.73

Growth

14 metrics
MetricBAXBDXVTRS
Revenue growth (1Y) -49.1% 17.4% 4.4%
Revenue CAGR (3Y) -23.5% 6.9% -1.9%
Gross profit growth (1Y) -1.8% 23.7% -0.7%
Gross profit CAGR (3Y) -5.2% 8.5% -6.0%
Operating income growth (1Y) -50.8% 13.0% 96.6%
Operating income CAGR (3Y) 29.5% 3.3% -27.6%
Net income growth (1Y) -604.0% -40.6% 88.2%
Net income CAGR (3Y) 28.0% -17.3% -30.5%
EPS growth (1Y) -580.5% -38.0% 88.1%
EPS CAGR (3Y) 28.6% -14.6% -30.6%
Operating cash flow growth (1Y) 56.3% 43.5% 12.9%
Operating cash flow CAGR (3Y) -4.8% 14.5% -3.0%
Free cash flow growth (1Y) 153.5% 54.2% 11.6%
Free cash flow CAGR (3Y) -9.5% 22.5% -3.6%

Profitability

14 metrics
MetricBAXBDXVTRS
Gross margin 68.1% 46.9% 34.8%
EBITDA margin 27.3% 21.4% 18.4%
Operating margin 9.6% 10.7% -0.6%
Pretax margin 5.1% 8.4% -4.5%
Net margin -19.2% 4.0% -2.8%
FCF margin 15.1% 13.8% 13.3%
Operating cash flow margin 24.2% 17.0% 15.8%
Return on equity -17.4% 3.9% -2.8%
Return on assets -5.4% 1.9% -1.1%
Return on invested capital 3.4% 5.3% -0.2%
Return on capital employed 3.3% 6.0% -0.3%
Asset turnover 0.3x 0.5x 0.4x
Cash conversion (OCF / net income) -1.3x 4.2x -5.7x
Stock comp / revenue 2.1% 1.2% 1.2%

Financial Health

11 metrics
MetricBAXBDXVTRS
Debt / assets 47.8% 33.1% 38.1%
Debt / equity 1.5x 0.7x 0.9x
Net debt / EBITDA 4.8x 3.2x 4.6x
Debt / FCF 11.3x 5.2x 6.8x
Liabilities / assets 68.6% 51.9% 59.3%
Equity / assets 31.4% 48.1% 40.7%
Interest coverage – 4.2x -0.2x
Current ratio 1.9x 0.9x 1.6x
Quick ratio 1.1x 0.3x 0.7x
Cash ratio 0.6x 0.1x 0.1x
Altman Z-score 2.12 2.28 1.15

Shareholder Returns

7 metrics
MetricBAXBDXVTRS
Dividend yield 0.2% 2.2% 2.6%
Net buyback yield -0.2% 4.7% 1.4%
Shareholder yield 0.0% 6.9% 4.0%
Payout ratio (earnings) -17.3% – –
Payout ratio (FCF) 21.9% – –
Dividend growth (1Y) -60.8% – –
Dividend CAGR (3Y) -32.0% – –

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.

ConsensusBAXBDXVTRS
Forward P/E 12.6xFY2026 15.0xFY2026 7.1xFY2026
EPS, next fiscal year $1.98FY2026 $12.99FY2026 $2.62FY2026
EPS growth, next FY -10.4%FY2026 +14.8%FY2026 +11.5%FY2026
EPS growth, the year after -3.5% -2.9% -1.5%
Revenue, next fiscal year $11.05BFY2026 $18.11BFY2026 $15.31BFY2026
Revenue growth, next FY -1.7%FY2026 -17.1%FY2026 +7.0%FY2026
Revenue growth, the year after +11.7% +11.6% -4.8%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBAXBDXVTRS
Held by institutions 100.0% 96.1% 89.9%
Institutions holding 690 1,442 1,028
Change in shares held, QoQ +5.2% +0.6% +5.6%
Institutions buying 359 688 486
Institutions selling 193 543 318
Buyers to sellers 1.86 1.27 1.53

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.

BAXBDXVTRS
BAX 1.00 0.39 0.30
BDX 0.39 1.00 0.22
VTRS 0.30 0.22 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, BAX, BDX and VTRS?

Becton Dickinson (BDX) is the largest by market capitalisation: Baxter International (BAX) $13.21B, Becton Dickinson (BDX) $53.74B, Viatris (VTRS) $21.86B.

Which company is growing faster?

Becton Dickinson (BDX) grew revenue fastest over the trailing twelve months: Baxter International (BAX) -49.1%, Becton Dickinson (BDX) +17.4%, Viatris (VTRS) +4.4%.

Which company is more profitable?

Becton Dickinson (BDX) has the highest net margin (Baxter International (BAX) -19.2%, Becton Dickinson (BDX) 4.0%, Viatris (VTRS) -2.8%). On return on invested capital, Becton Dickinson (BDX) leads (Baxter International (BAX) 3.4%, Becton Dickinson (BDX) 5.3%, Viatris (VTRS) -0.2%).

Which stock has performed better?

Over the past year Viatris (VTRS) returned the most: Baxter International (BAX) +7.6%, Becton Dickinson (BDX) +4.2%, Viatris (VTRS) +79.7%. Over five years, Viatris (VTRS) compounded fastest (Baxter International (BAX) -20.5%/yr, Becton Dickinson (BDX) -4.0%/yr, Viatris (VTRS) +7.0%/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%, Viatris (VTRS) 0.00%. Becton Dickinson (BDX) and Viatris (VTRS) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Becton Dickinson (BDX) has been the steadiest (Baxter International (BAX) 44.3%, Becton Dickinson (BDX) 31.9%, Viatris (VTRS) 32.4%). Volatility measures how widely the price swings, not the risk of the business.

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

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 7. 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.