FENC vs BAX vs AMPH Stock Comparison

Fennec Pharmaceuticals, Baxter International and Amphastar Pharmaceuticals Prices as of Oct 26, 2026 Peers: Industry group
BAX Baxter International Inc
$25.29 +8.2% 1M +9.9% 1Y
Market cap
$12.89B
P/E
–
Revenue (TTM)
$5.55B
Div. yield
0.01%
Medical Supplies Healthcare
2 wins

Head to Head

10 decided of 12

Amphastar Pharmaceuticals leads on 5 of the 12 questions below (Amphastar Pharmaceuticals 5, Fennec Pharmaceuticals 3, Baxter International 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionFENCBAXAMPHLeader
Larger companyMarket capitalisation $367.56M $12.89B $1.12B BAX
Cheaper on earningsLower P/E, profitable companies only -55.7x -12.1x 14.2x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 35.0x 12.8x 8.2x AMPH
Faster revenue growthRevenue growth, trailing twelve months +61.4% -49.1% +1.0% FENC
More profitableNet margin, trailing twelve months -12.3% -19.2% 10.8% AMPH
Better return on capitalReturn on invested capital — 3.4% 6.4% AMPH
Less leveragedLower net debt / EBITDA — 4.8x 1.8x AMPH
Higher dividend yieldTrailing dividend yield 0.00% 0.01% 0.00% –
Better 1-year returnPrice return, last 12 months +12.9% +9.9% +3.9% FENC
Better 5-year returnAnnualised price return, 5 years +2.3%/yr -21.0%/yr +6.8%/yr AMPH
Less volatileAnnualised volatility, 1 year 64.1% 44.4% 54.3% BAX
Higher overall scoreMean of the five percentile scores vs peers 73/100 44/100 73/100 FENC

Percentile Scorecard

FENCBAXAMPH

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

AxisFENCBAXAMPH
Valuation 59 #255 of 626 82 #41 of 228 99 #8 of 626
Growth 93 #43 of 604 19 #180 of 221 43 #347 of 604
Profitability 84 #88 of 555 73 #57 of 208 87 #72 of 555
Financial Health 57 #285 of 658 19 #194 of 239 37 #412 of 658
Shareholder Returns – 27 #101 of 137 99 #4 of 368
Overall 73 44 73
  • FENC ranked among 673 companies in Pharmaceuticals and Biotechnology
  • BAX ranked among 248 companies in Medical Devices and Diagnostics
  • AMPH ranked among 673 companies in Pharmaceuticals and Biotechnology

Price Performance

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

Returns

PeriodFENCBAXAMPHSPY
1 month -4.2%+8.2%-2.5% -0.8%
3 months -0.6%+8.4%+32.8% +3.5%
6 months +48.2%+36.8%+17.6% +7.0%
Year to date +31.8%+32.3%-4.9% +12.2%
1 year +12.9%+9.9%+3.9% +13.0%
3 years +48.4%-21.4%-42.9% +86.3%
3 years, per year +14.1%-7.7%-17.1% +23.1%
5 years +12.2%-69.1%+38.7% +68.6%
5 years, per year +2.3%-21.0%+6.8% +11.0%
10 years +415.2%-46.7%+40.1% +258.0%
10 years, per year +17.8%-6.1%+3.4% +13.6%

Risk

MeasureFENCBAXAMPHSPY
Volatility, 1Y 64.1%44.4%54.3% 12.7%
Downside volatility, 1Y 59.6%48.2%66.4% 12.7%
Beta vs S&P 500, 1Y 1.321.160.58 1.00
Return / volatility, 1Y 0.200.220.07 1.02
Max drawdown, 5Y -65.6%-82.3%-74.0% -25.4%
From 52-week high -20.6%-10.8%-13.4% -1.8%
52-week high $12.78$28.35$29.40 $779.14
52-week low $5.77$15.80$16.87 $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.

MultipleFENCBAXAMPH
P/E now vs peer median -53.1xmedian 17.1x -12.3xmedian 30.6x 14.2xmedian 17.1x
P/S now vs peer median 6.6xmedian 8.8x 2.4xmedian 3.0x 1.5xmedian 8.8x
EV/EBITDA now vs peer median —median 17.1x 13.5xmedian 17.5x 8.0xmedian 17.1x
P/FCF now vs peer median —median 18.0x 15.6xmedian 23.3x 7.1xmedian 18.0x
P/B now vs peer median 8.4xmedian 2.1x 2.1xmedian 2.4x 1.4xmedian 2.1x
PEG now vs peer median -1.25median 0.31 -0.43median 0.87 -5.53median 0.31

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 monthsFENCBAXAMPH
Revenue $53.77M $5.55B $730.02M
Gross profit $49.65M $3.78B $348.11M
Operating income -$3.74M $532.00M $114.29M
Net income -$6.60M -$1.06B $78.55M
Free cash flow – $839.00M $152.89M
R&D $274.00K $542.00M $94.57M
EPS (diluted) $-0.18 $-2.05 $1.78
Cash & equivalents $41.25M $2.15B $223.61M
Total debt – $9.46B $612.05M
Shares (diluted) 36.43M 518.00M 44.23M
Enterprise value $248.87M $5.02B -$24.25M

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
MetricFENCBAXAMPH
P/E -53.1x -12.3x 14.2x
P/FCF – 15.6x 7.1x
P/Operating cash flow – 9.7x 5.9x
P/S 6.6x 2.4x 1.5x
P/B 8.4x 2.1x 1.4x
P/Tangible book 8.4x 6.1x 1.5x
EV/EBITDA – 13.5x 8.0x
EV/EBIT -84.1x 38.3x 12.3x
EV/Revenue 5.8x 3.7x 1.9x
EV/FCF – 24.3x 9.2x
EV/Operating cash flow – 15.2x 7.6x
PEG (3Y EPS CAGR) -1.25 -0.43 -5.53

Growth

14 metrics
MetricFENCBAXAMPH
Revenue growth (1Y) 61.4% -49.1% 1.0%
Revenue CAGR (3Y) 118.1% -23.5% 10.5%
Gross profit growth (1Y) 65.9% -1.8% -3.4%
Gross profit CAGR (3Y) – -5.2% 8.0%
Operating income growth (1Y) 61.4% -50.8% -37.1%
Operating income CAGR (3Y) 46.2% 29.5% -4.5%
Net income growth (1Y) 45.1% -604.0% -41.7%
Net income CAGR (3Y) 37.0% 28.0% -8.3%
EPS growth (1Y) 58.3% -580.5% -36.5%
EPS CAGR (3Y) 42.6% 28.6% -2.6%
Operating cash flow growth (1Y) – 56.3% 15.6%
Operating cash flow CAGR (3Y) – -4.8% 12.1%
Free cash flow growth (1Y) – 153.5% 36.3%
Free cash flow CAGR (3Y) – -9.5% 15.0%

Profitability

14 metrics
MetricFENCBAXAMPH
Gross margin 92.4% 68.1% 47.7%
EBITDA margin – 27.3% 23.9%
Operating margin -7.0% 9.6% 15.7%
Pretax margin -8.2% 5.1% 14.0%
Net margin -12.3% -19.2% 10.8%
FCF margin – 15.1% 20.9%
Operating cash flow margin – 24.2% 25.3%
Return on equity -11.4% -17.4% 10.2%
Return on assets -6.1% -5.4% 4.6%
Return on invested capital – 3.4% 6.4%
Return on capital employed -6.2% 3.3% 8.0%
Asset turnover 0.7x 0.3x 0.4x
Cash conversion (OCF / net income) – -1.3x 2.4x
Stock comp / revenue 14.8% 2.1% 4.0%

Financial Health

11 metrics
MetricFENCBAXAMPH
Debt / assets – 47.8% 35.1%
Debt / equity – 1.5x 0.8x
Net debt / EBITDA – 4.8x 1.8x
Debt / FCF – 11.3x 4.0x
Liabilities / assets 44.0% 68.6% 55.9%
Equity / assets 56.0% 31.4% 44.1%
Interest coverage -2.5x – 4.4x
Current ratio 5.8x 1.9x 2.4x
Quick ratio 5.2x 1.1x 1.7x
Cash ratio 3.3x 0.6x 1.1x
Altman Z-score 3.70 2.13 2.12

Shareholder Returns

7 metrics
MetricFENCBAXAMPH
Dividend yield – 0.2% –
Net buyback yield – -0.2% 9.0%
Shareholder yield – 0.0% 9.0%
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.

ConsensusFENCBAXAMPH
Forward P/E 35.0xFY2026 12.8xFY2026 8.2xFY2026
EPS, next fiscal year $0.29FY2026 $1.98FY2026 $3.09FY2026
EPS growth, next FY – -10.4%FY2026 -4.9%FY2026
EPS growth, the year after +241.4% -3.5% +9.4%
Revenue, next fiscal year $75.58MFY2026 $11.05BFY2026 $790.23MFY2026
Revenue growth, next FY +69.3%FY2026 -1.7%FY2026 +9.8%FY2026
Revenue growth, the year after +28.3% +11.7% -5.4%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersFENCBAXAMPH
Held by institutions 46.6% 100.0% 64.8%
Institutions holding 107 690 209
Change in shares held, QoQ +0.7% +5.2% -11.7%
Institutions buying 71 359 96
Institutions selling 19 193 74
Buyers to sellers 3.74 1.86 1.30

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.

FENCBAXAMPH
FENC 1.00 0.16 0.08
BAX 0.16 1.00 0.15
AMPH 0.08 0.15 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, FENC, BAX and AMPH?

Baxter International (BAX) is the largest by market capitalisation: Fennec Pharmaceuticals (FENC) $367.56M, Baxter International (BAX) $12.89B, Amphastar Pharmaceuticals (AMPH) $1.12B.

Which company is growing faster?

Fennec Pharmaceuticals (FENC) grew revenue fastest over the trailing twelve months: Fennec Pharmaceuticals (FENC) +61.4%, Baxter International (BAX) -49.1%, Amphastar Pharmaceuticals (AMPH) +1.0%.

Which company is more profitable?

Amphastar Pharmaceuticals (AMPH) has the highest net margin (Fennec Pharmaceuticals (FENC) -12.3%, Baxter International (BAX) -19.2%, Amphastar Pharmaceuticals (AMPH) 10.8%). On return on invested capital, Amphastar Pharmaceuticals (AMPH) leads (Baxter International (BAX) 3.4%, Amphastar Pharmaceuticals (AMPH) 6.4%).

Which stock has performed better?

Over the past year Fennec Pharmaceuticals (FENC) returned the most: Fennec Pharmaceuticals (FENC) +12.9%, Baxter International (BAX) +9.9%, Amphastar Pharmaceuticals (AMPH) +3.9%. Over five years, Amphastar Pharmaceuticals (AMPH) compounded fastest (Fennec Pharmaceuticals (FENC) +2.3%/yr, Baxter International (BAX) -21.0%/yr, Amphastar Pharmaceuticals (AMPH) +6.8%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

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

Which stock is riskier?

By one-year price volatility, Baxter International (BAX) has been the steadiest (Fennec Pharmaceuticals (FENC) 64.1%, Baxter International (BAX) 44.4%, Amphastar Pharmaceuticals (AMPH) 54.3%). Volatility measures how widely the price swings, not the risk of the business.

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

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