BAX vs FENC vs STVN Stock Comparison

Baxter International, Fennec Pharmaceuticals and Stevanato Group S.p.A Prices as of Oct 29, 2026 Peers: Industry group
BAX Baxter International Inc
$23.49 0.0% 1M +4.8% 1Y
Market cap
$12.78B
P/E
–
Revenue (TTM)
$11.61B
Div. yield
0.01%
Medical Supplies Healthcare
3 wins
STVN Stevanato Group S.p.A.
$20.29 -4.3% 1M -21.4% 1Y
Market cap
$4.06B
P/E
25.8x
Revenue (TTM)
$1.43B
Div. yield
–
Medical Supplies Healthcare
3 wins

Head to Head

10 decided of 12

Fennec Pharmaceuticals leads on 4 of the 12 questions below (Fennec Pharmaceuticals 4, Baxter International 3, Stevanato Group S.p.A 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBAXFENCSTVNLeader
Larger companyMarket capitalisation $12.78B $366.35M $4.06B BAX
Cheaper on earningsLower P/E, profitable companies only -17.7x -55.5x 25.8x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 11.9x 37.8x 30.7x BAX
Faster revenue growthRevenue growth, trailing twelve months +5.3% +61.4% +14.8% FENC
More profitableNet margin, trailing twelve months -6.2% -12.3% 11.0% STVN
Better return on capitalReturn on invested capital -1.4% — 7.2% STVN
Less leveragedLower net debt / EBITDA 9.0x — 1.2x STVN
Higher dividend yieldTrailing dividend yield 0.01% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +4.8% +29.3% -21.4% FENC
Better 5-year returnAnnualised price return, 5 years -21.5%/yr +3.4%/yr -4.6%/yr FENC
Less volatileAnnualised volatility, 1 year 45.1% 64.1% 45.8% BAX
Higher overall scoreMean of the five percentile scores vs peers 44/100 73/100 67/100 FENC

Percentile Scorecard

BAXFENCSTVN

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

AxisBAXFENCSTVN
Valuation 89 #25 of 227 58 #265 of 624 80 #46 of 227
Growth 14 #187 of 218 94 #40 of 601 58 #92 of 218
Profitability 66 #69 of 202 85 #84 of 541 83 #36 of 202
Financial Health 19 #189 of 233 57 #277 of 647 72 #66 of 233
Shareholder Returns 33 #87 of 130 – 41 #77 of 130
Overall 44 73 67
  • BAX ranked among 247 companies in Medical Devices and Diagnostics
  • FENC ranked among 671 companies in Pharmaceuticals and Biotechnology
  • STVN ranked among 247 companies in Medical Devices and Diagnostics

Price Performance

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

Returns

PeriodBAXFENCSTVNSPY
1 month 0.0%+1.4%-4.3% +0.7%
3 months -12.2%+10.5%+0.4% +3.7%
6 months +33.6%+68.7%+19.4% +7.1%
Year to date +22.9%+42.2%+0.8% +12.8%
1 year +4.8%+29.3%-21.4% +11.9%
3 years -26.7%+59.2%-25.8% +85.2%
3 years, per year -9.8%+16.8%-9.5% +22.8%
5 years -70.3%+18.3%-21.0% +67.6%
5 years, per year -21.5%+3.4%-4.6% +10.9%
10 years -50.2%+444.8%— +262.0%
10 years, per year -6.7%+18.5%— +13.7%

Risk

MeasureBAXFENCSTVNSPY
Volatility, 1Y 45.1%64.1%45.8% 12.7%
Downside volatility, 1Y 49.5%59.9%44.7% 12.6%
Beta vs S&P 500, 1Y 1.181.331.10 1.00
Return / volatility, 1Y 0.110.46-0.47 0.94
Max drawdown, 5Y -82.3%-65.6%-62.2% -25.4%
From 52-week high -17.1%-14.3%-21.4% -1.2%
52-week high $28.35$12.78$25.80 $779.14
52-week low $15.80$5.77$13.43 $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.

MultipleBAXFENCSTVN
P/E now vs peer median -16.8xmedian 28.7x -57.3xmedian 17.8x 35.3xmedian 28.7x
P/S now vs peer median 1.0xmedian 3.0x 7.1xmedian 9.1x 4.3xmedian 3.0x
EV/EBITDA now vs peer median 25.6xmedian 17.8x —median 15.0x 19.0xmedian 17.8x
P/FCF now vs peer median 10.5xmedian 26.4x —median 21.7x 10.4xmedian 26.4x
P/B now vs peer median 1.9xmedian 2.4x 9.0xmedian 2.2x 3.5xmedian 2.4x
PEG now vs peer median 0.53median 0.99 -1.34median 0.35 -131.55median 0.99

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 monthsBAXFENCSTVN
Revenue $11.61B $53.77M $1.43B
Gross profit $3.49B $49.65M $416.82M
Operating income -$221.00M -$3.74M $233.97M
Net income -$723.00M -$6.60M $157.06M
Free cash flow $1.16B – $592.88M
R&D $519.00M $274.00K $29.75M
EPS (diluted) $-1.39 $-0.18 $0.58
Cash & equivalents $1.98B $41.25M $89.82M
Total debt $8.60B – $2.11B
Shares (diluted) 520.00M 36.43M 272.96M
Enterprise value $4.66B $247.66M $3.50B

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
MetricBAXFENCSTVN
P/E -16.8x -57.3x 35.3x
P/FCF 10.5x – 10.4x
P/Operating cash flow 7.3x – 21.2x
P/S 1.0x 7.1x 4.3x
P/B 1.9x 9.0x 3.5x
P/Tangible book 4.7x 9.0x 3.6x
EV/EBITDA 25.6x – 19.0x
EV/EBIT -84.9x -91.6x 28.0x
EV/Revenue 1.6x 6.4x 4.6x
EV/FCF 16.2x – 11.0x
EV/Operating cash flow 11.3x – 22.6x
PEG (3Y EPS CAGR) 0.53 -1.34 -131.55

Growth

14 metrics
MetricBAXFENCSTVN
Revenue growth (1Y) 5.3% 61.4% 14.8%
Revenue CAGR (3Y) 0.7% 118.1% 9.8%
Gross profit growth (1Y) -7.1% 65.9% 19.4%
Gross profit CAGR (3Y) -7.7% – 6.2%
Operating income growth (1Y) -136.3% 61.4% 17.2%
Operating income CAGR (3Y) 4.2% 46.2% 4.5%
Net income growth (1Y) -112.0% 45.1% 7.5%
Net income CAGR (3Y) -31.6% 37.0% 0.8%
EPS growth (1Y) -109.6% 58.3% 6.7%
EPS CAGR (3Y) -31.5% 42.6% -0.3%
Operating cash flow growth (1Y) 97.4% – 30.4%
Operating cash flow CAGR (3Y) 0.6% – 32.9%
Free cash flow growth (1Y) 243.5% – 17.2%
Free cash flow CAGR (3Y) -5.0% – 8.0%

Profitability

14 metrics
MetricBAXFENCSTVN
Gross margin 30.1% 92.4% 29.2%
EBITDA margin 6.3% – 24.1%
Operating margin -1.9% -7.0% 16.4%
Pretax margin -1.6% -8.2% 15.7%
Net margin -6.2% -12.3% 11.0%
FCF margin 10.0% – 41.5%
Operating cash flow margin 14.3% – 20.3%
Return on equity -11.4% -11.4% 8.9%
Return on assets -3.7% -6.1% 5.3%
Return on invested capital -1.4% – 7.2%
Return on capital employed -1.4% -6.2% –
Asset turnover 0.6x 0.7x 0.5x
Cash conversion (OCF / net income) -2.3x – 1.8x
Stock comp / revenue 0.9% 14.8% –

Financial Health

11 metrics
MetricBAXFENCSTVN
Debt / assets 44.3% – 17.0%
Debt / equity 1.3x – 0.3x
Net debt / EBITDA 9.0x – 1.2x
Debt / FCF 7.4x – 0.9x
Liabilities / assets 66.5% 44.0% 40.8%
Equity / assets 33.5% 56.0% 59.2%
Interest coverage – -2.5x 14.9x
Current ratio 1.8x 5.8x –
Quick ratio 1.0x 5.2x –
Cash ratio 0.5x 3.3x –
Altman Z-score 2.33 4.21 –

Shareholder Returns

7 metrics
MetricBAXFENCSTVN
Dividend yield 0.2% – 0.2%
Net buyback yield -0.2% – –
Shareholder yield 0.0% – 0.2%
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.

ConsensusBAXFENCSTVN
Forward P/E 11.9xFY2026 37.8xFY2026 30.7xFY2026
EPS, next fiscal year $1.98FY2026 $0.29FY2026 $0.66FY2026
EPS growth, next FY -10.4%FY2026 – +4.8%FY2026
EPS growth, the year after -3.5% +241.4% +15.2%
Revenue, next fiscal year $11.05BFY2026 $75.58MFY2026 $1.46BFY2026
Revenue growth, next FY -1.7%FY2026 +69.3%FY2026 +5.1%FY2026
Revenue growth, the year after +11.7% +28.3% +10.0%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBAXFENCSTVN
Held by institutions 100.0% 46.6% 16.4%
Institutions holding 691 107 126
Change in shares held, QoQ +5.2% +0.7% +0.4%
Institutions buying 359 71 61
Institutions selling 193 19 52
Buyers to sellers 1.86 3.74 1.17

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.

BAXFENCSTVN
BAX 1.00 0.15 0.17
FENC 0.15 1.00 0.17
STVN 0.17 0.17 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, BAX, FENC and STVN?

Baxter International (BAX) is the largest by market capitalisation: Baxter International (BAX) $12.78B, Fennec Pharmaceuticals (FENC) $366.35M, Stevanato Group S.p.A (STVN) $4.06B.

Which company is growing faster?

Fennec Pharmaceuticals (FENC) grew revenue fastest over the trailing twelve months: Baxter International (BAX) +5.3%, Fennec Pharmaceuticals (FENC) +61.4%, Stevanato Group S.p.A (STVN) +14.8%.

Which company is more profitable?

Stevanato Group S.p.A (STVN) has the highest net margin (Baxter International (BAX) -6.2%, Fennec Pharmaceuticals (FENC) -12.3%, Stevanato Group S.p.A (STVN) 11.0%). On return on invested capital, Stevanato Group S.p.A (STVN) leads (Baxter International (BAX) -1.4%, Stevanato Group S.p.A (STVN) 7.2%).

Which stock has performed better?

Over the past year Fennec Pharmaceuticals (FENC) returned the most: Baxter International (BAX) +4.8%, Fennec Pharmaceuticals (FENC) +29.3%, Stevanato Group S.p.A (STVN) -21.4%. Over five years, Fennec Pharmaceuticals (FENC) compounded fastest (Baxter International (BAX) -21.5%/yr, Fennec Pharmaceuticals (FENC) +3.4%/yr, Stevanato Group S.p.A (STVN) -4.6%/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%, Fennec Pharmaceuticals (FENC) 0.00%, Stevanato Group S.p.A (STVN) 0.00%. Fennec Pharmaceuticals (FENC) and Stevanato Group S.p.A (STVN) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Baxter International (BAX) has been the steadiest (Baxter International (BAX) 45.1%, Fennec Pharmaceuticals (FENC) 64.1%, Stevanato Group S.p.A (STVN) 45.8%). Volatility measures how widely the price swings, not the risk of the business.

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

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Fennec Pharmaceuticals (FENC) leads on 4. 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.