FENC vs BAX vs AMRX Stock Comparison

Fennec Pharmaceuticals, Baxter International and Amneal Pharmaceuticals Prices as of Oct 26, 2026 Peers: Industry group
BAX Baxter International Inc
$25.29 +8.2% 1M +9.9% 1Y
Market cap
$12.91B
P/E
–
Revenue (TTM)
$5.55B
Div. yield
0.01%
Medical Supplies Healthcare
2 wins

Head to Head

10 decided of 12

Amneal Pharmaceuticals leads on 6 of the 12 questions below (Amneal Pharmaceuticals 6, Baxter International 2, Fennec Pharmaceuticals 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionFENCBAXAMRXLeader
Larger companyMarket capitalisation $359.01M $12.91B $6.79B BAX
Cheaper on earningsLower P/E, profitable companies only -54.4x -12.1x 43.1x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 35.0x 12.8x 21.7x BAX
Faster revenue growthRevenue growth, trailing twelve months +61.4% -49.1% +9.3% FENC
More profitableNet margin, trailing twelve months -12.3% -19.2% 5.0% AMRX
Better return on capitalReturn on invested capital — 3.4% 17.4% AMRX
Less leveragedLower net debt / EBITDA — 4.8x 3.8x AMRX
Higher dividend yieldTrailing dividend yield 0.00% 0.01% 0.00% –
Better 1-year returnPrice return, last 12 months +12.9% +9.9% +99.2% AMRX
Better 5-year returnAnnualised price return, 5 years +2.3%/yr -21.0%/yr +31.6%/yr AMRX
Less volatileAnnualised volatility, 1 year 64.1% 44.4% 35.1% AMRX
Higher overall scoreMean of the five percentile scores vs peers 73/100 44/100 70/100 FENC

Percentile Scorecard

FENCBAXAMRX

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

AxisFENCBAXAMRX
Valuation 59 #255 of 626 82 #41 of 228 92 #54 of 626
Growth 93 #43 of 604 19 #180 of 221 74 #158 of 604
Profitability 84 #88 of 555 73 #57 of 208 84 #91 of 555
Financial Health 57 #285 of 658 19 #194 of 239 12 #582 of 658
Shareholder Returns – 27 #101 of 137 88 #44 of 368
Overall 73 44 70
  • FENC ranked among 673 companies in Pharmaceuticals and Biotechnology
  • BAX ranked among 248 companies in Medical Devices and Diagnostics
  • AMRX 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

PeriodFENCBAXAMRXSPY
1 month -4.2%+8.2%+6.3% -0.8%
3 months -0.6%+8.4%+16.2% +3.5%
6 months +48.2%+36.8%+67.2% +7.0%
Year to date +31.8%+32.3%+66.8% +12.2%
1 year +12.9%+9.9%+99.2% +13.0%
3 years +48.4%-21.4%+457.6% +86.3%
3 years, per year +14.1%-7.7%+77.4% +23.1%
5 years +12.2%-69.1%+293.6% +68.6%
5 years, per year +2.3%-21.0%+31.6% +11.0%
10 years +415.2%-46.7%— +258.0%
10 years, per year +17.8%-6.1%— +13.6%

Risk

MeasureFENCBAXAMRXSPY
Volatility, 1Y 64.1%44.4%35.1% 12.7%
Downside volatility, 1Y 59.6%48.2%31.0% 12.7%
Beta vs S&P 500, 1Y 1.321.160.70 1.00
Return / volatility, 1Y 0.200.222.83 1.02
Max drawdown, 5Y -65.6%-82.3%-78.2% -25.4%
From 52-week high -20.6%-10.8%0.0% -1.8%
52-week high $12.78$28.35$21.02 $779.14
52-week low $5.77$15.80$10.00 $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.

MultipleFENCBAXAMRX
P/E now vs peer median -53.1xmedian 17.1x -12.3xmedian 30.6x 42.6xmedian 17.1x
P/S now vs peer median 6.6xmedian 8.8x 2.4xmedian 3.0x 2.2xmedian 8.8x
EV/EBITDA now vs peer median —median 17.1x 13.5xmedian 17.5x 13.9xmedian 17.1x
P/FCF now vs peer median —median 18.0x 15.6xmedian 23.3x 80.8xmedian 18.0x
P/B now vs peer median 8.4xmedian 2.1x 2.1xmedian 2.4x 203.3xmedian 2.1x
PEG now vs peer median -1.25median 0.31 -0.43median 0.87 0.18median 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 monthsFENCBAXAMRX
Revenue $53.77M $5.55B $3.12B
Gross profit $49.65M $3.78B $1.23B
Operating income -$3.74M $532.00M $453.92M
Net income -$6.60M -$1.06B $215.32M
Free cash flow – $839.00M $83.11M
R&D $274.00K $542.00M $175.57M
EPS (diluted) $-0.18 $-2.05 $0.48
Cash & equivalents $41.25M $2.15B $127.64M
Total debt – $9.46B $2.67B
Shares (diluted) 36.43M 518.00M 328.10M
Enterprise value $240.32M $5.04B $5.98B

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
MetricFENCBAXAMRX
P/E -53.1x -12.3x 42.6x
P/FCF – 15.6x 80.8x
P/Operating cash flow – 9.7x 33.4x
P/S 6.6x 2.4x 2.2x
P/B 8.4x 2.1x 203.3x
P/Tangible book 8.4x 6.1x -12.1x
EV/EBITDA – 13.5x 13.9x
EV/EBIT -84.1x 38.3x 20.4x
EV/Revenue 5.8x 3.7x 3.0x
EV/FCF – 24.3x 111.4x
EV/Operating cash flow – 15.2x 46.1x
PEG (3Y EPS CAGR) -1.25 -0.43 0.18

Growth

14 metrics
MetricFENCBAXAMRX
Revenue growth (1Y) 61.4% -49.1% 9.3%
Revenue CAGR (3Y) 118.1% -23.5% 10.5%
Gross profit growth (1Y) 65.9% -1.8% 14.1%
Gross profit CAGR (3Y) – -5.2% 14.9%
Operating income growth (1Y) 61.4% -50.8% 20.6%
Operating income CAGR (3Y) 46.2% 29.5% 32.5%
Net income growth (1Y) 45.1% -604.0% 426.4%
Net income CAGR (3Y) 37.0% 28.0% 139.1%
EPS growth (1Y) 58.3% -580.5% 4,481%
EPS CAGR (3Y) 42.6% 28.6% 237.0%
Operating cash flow growth (1Y) – 56.3% -42.8%
Operating cash flow CAGR (3Y) – -4.8% 0.4%
Free cash flow growth (1Y) – 153.5% -69.3%
Free cash flow CAGR (3Y) – -9.5% -17.3%

Profitability

14 metrics
MetricFENCBAXAMRX
Gross margin 92.4% 68.1% 39.3%
EBITDA margin – 27.3% 21.3%
Operating margin -7.0% 9.6% 14.6%
Pretax margin -8.2% 5.1% 6.5%
Net margin -12.3% -19.2% 5.0%
FCF margin – 15.1% 2.7%
Operating cash flow margin – 24.2% 6.4%
Return on equity -11.4% -17.4% –
Return on assets -6.1% -5.4% 5.9%
Return on invested capital – 3.4% 17.4%
Return on capital employed -6.2% 3.3% 16.4%
Asset turnover 0.7x 0.3x 0.9x
Cash conversion (OCF / net income) – -1.3x 0.9x
Stock comp / revenue 14.8% 2.1% 1.1%

Financial Health

11 metrics
MetricFENCBAXAMRX
Debt / assets – 47.8% 70.7%
Debt / equity – 1.5x 80.9x
Net debt / EBITDA – 4.8x 3.8x
Debt / FCF – 11.3x 32.1x
Liabilities / assets 44.0% 68.6% 99.1%
Equity / assets 56.0% 31.4% 0.9%
Interest coverage -2.5x – –
Current ratio 5.8x 1.9x 2.2x
Quick ratio 5.2x 1.1x 1.3x
Cash ratio 3.3x 0.6x 0.1x
Altman Z-score 3.70 2.13 2.48

Shareholder Returns

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

ConsensusFENCBAXAMRX
Forward P/E 35.0xFY2026 12.8xFY2026 21.7xFY2026
EPS, next fiscal year $0.29FY2026 $1.98FY2026 $0.97FY2026
EPS growth, next FY – -10.4%FY2026 +16.9%FY2026
EPS growth, the year after +241.4% -3.5% +26.8%
Revenue, next fiscal year $75.58MFY2026 $11.05BFY2026 $3.24BFY2026
Revenue growth, next FY +69.3%FY2026 -1.7%FY2026 +7.4%FY2026
Revenue growth, the year after +28.3% +11.7% +12.4%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersFENCBAXAMRX
Held by institutions 46.6% 100.0% 51.1%
Institutions holding 107 690 310
Change in shares held, QoQ +0.7% +5.2% +1.3%
Institutions buying 71 359 182
Institutions selling 19 193 86
Buyers to sellers 3.74 1.86 2.12

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.

FENCBAXAMRX
FENC 1.00 0.16 0.05
BAX 0.16 1.00 0.24
AMRX 0.05 0.24 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, FENC, BAX and AMRX?

Baxter International (BAX) is the largest by market capitalisation: Fennec Pharmaceuticals (FENC) $359.01M, Baxter International (BAX) $12.91B, Amneal Pharmaceuticals (AMRX) $6.79B.

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%, Amneal Pharmaceuticals (AMRX) +9.3%.

Which company is more profitable?

Amneal Pharmaceuticals (AMRX) has the highest net margin (Fennec Pharmaceuticals (FENC) -12.3%, Baxter International (BAX) -19.2%, Amneal Pharmaceuticals (AMRX) 5.0%). On return on invested capital, Amneal Pharmaceuticals (AMRX) leads (Baxter International (BAX) 3.4%, Amneal Pharmaceuticals (AMRX) 17.4%).

Which stock has performed better?

Over the past year Amneal Pharmaceuticals (AMRX) returned the most: Fennec Pharmaceuticals (FENC) +12.9%, Baxter International (BAX) +9.9%, Amneal Pharmaceuticals (AMRX) +99.2%. Over five years, Amneal Pharmaceuticals (AMRX) compounded fastest (Fennec Pharmaceuticals (FENC) +2.3%/yr, Baxter International (BAX) -21.0%/yr, Amneal Pharmaceuticals (AMRX) +31.6%/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%, Amneal Pharmaceuticals (AMRX) 0.00%. Fennec Pharmaceuticals (FENC) and Amneal Pharmaceuticals (AMRX) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Amneal Pharmaceuticals (AMRX) has been the steadiest (Fennec Pharmaceuticals (FENC) 64.1%, Baxter International (BAX) 44.4%, Amneal Pharmaceuticals (AMRX) 35.1%). Volatility measures how widely the price swings, not the risk of the business.

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

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Amneal Pharmaceuticals (AMRX) leads on 6. 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.