FENC vs BAX vs BHC Stock Comparison

Fennec Pharmaceuticals, Baxter International and Bausch Health Companies Prices as of Oct 27, 2026 Peers: Industry group
BAX Baxter International Inc
$24.92 +6.6% 1M +7.6% 1Y
Market cap
$12.88B
P/E
–
Revenue (TTM)
$5.55B
Div. yield
0.16%
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, Bausch Health Companies 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionFENCBAXBHCLeader
Larger companyMarket capitalisation $372.06M $12.88B $2.36B BAX
Cheaper on earningsLower P/E, profitable companies only -55.6x -12.1x -2.2x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 36.6x 12.6x 1.3x BHC
Faster revenue growthRevenue growth, trailing twelve months +61.4% -49.1% +10.1% FENC
More profitableNet margin, trailing twelve months -12.3% -19.2% -10.1% BHC
Better return on capitalReturn on invested capital — 3.4% 4.6% BHC
Less leveragedLower net debt / EBITDA — 4.8x 8.9x BAX
Higher dividend yieldTrailing dividend yield — 0.16% 0.00% –
Better 1-year returnPrice return, last 12 months +20.4% +7.6% +1.6% FENC
Better 5-year returnAnnualised price return, 5 years +3.4%/yr -20.5%/yr -25.6%/yr FENC
Less volatileAnnualised volatility, 1 year 64.1% 44.3% 54.7% BAX
Higher overall scoreMean of the five percentile scores vs peers 73/100 44/100 60/100 FENC

Percentile Scorecard

FENCBAXBHC

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

AxisFENCBAXBHC
Valuation 59 #257 of 625 83 #40 of 227 99 #10 of 625
Growth 93 #44 of 602 19 #177 of 219 44 #338 of 602
Profitability 85 #86 of 551 72 #58 of 206 84 #89 of 551
Financial Health 57 #282 of 656 19 #193 of 238 15 #558 of 656
Shareholder Returns – 26 #99 of 134 –
Overall 73 44 60
  • FENC ranked among 672 companies in Pharmaceuticals and Biotechnology
  • BAX ranked among 247 companies in Medical Devices and Diagnostics
  • BHC 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

PeriodFENCBAXBHCSPY
1 month +0.2%+6.6%+10.7% -0.2%
3 months +6.8%+2.3%+39.4% +3.9%
6 months +58.5%+38.9%+11.1% +8.2%
Year to date +37.9%+30.4%-9.4% +12.9%
1 year +20.4%+7.6%+1.6% +12.3%
3 years +55.3%-22.5%-4.1% +87.4%
3 years, per year +15.8%-8.2%-1.4% +23.3%
5 years +18.4%-68.3%-77.2% +67.9%
5 years, per year +3.4%-20.5%-25.6% +10.9%
10 years +456.6%-46.8%-71.5% +261.1%
10 years, per year +18.7%-6.1%-11.8% +13.7%

Risk

MeasureFENCBAXBHCSPY
Volatility, 1Y 64.1%44.3%54.7% 12.7%
Downside volatility, 1Y 59.6%48.0%47.8% 12.7%
Beta vs S&P 500, 1Y 1.331.160.88 1.00
Return / volatility, 1Y 0.320.170.03 0.97
Max drawdown, 5Y -65.6%-82.3%-84.9% -25.4%
From 52-week high -16.9%-12.1%-20.3% -1.2%
52-week high $12.78$28.35$7.90 $779.14
52-week low $5.77$15.80$4.43 $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.

MultipleFENCBAXBHC
P/E now vs peer median -55.6xmedian 17.2x -12.1xmedian 29.6x -2.2xmedian 17.2x
P/S now vs peer median 6.9xmedian 9.0x 2.3xmedian 2.9x 0.2xmedian 9.0x
EV/EBITDA now vs peer median —median 16.3x 13.4xmedian 17.4x 10.0xmedian 16.3x
P/FCF now vs peer median —median 18.7x 15.4xmedian 22.3x 1.6xmedian 18.7x
P/B now vs peer median 8.8xmedian 2.2x 2.1xmedian 2.3x -1.3xmedian 2.2x
PEG now vs peer median -1.30median 0.33 -0.42median 1.04 0.03median 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 monthsFENCBAXBHC
Revenue $53.77M $5.55B $10.85B
Gross profit $49.65M $3.78B $7.80B
Operating income -$3.74M $532.00M $883.00M
Net income -$6.60M -$1.06B -$1.10B
Free cash flow – $839.00M $1.43B
R&D $274.00K $542.00M $663.00M
EPS (diluted) $-0.18 $-2.05 $-2.90
Cash & equivalents $41.25M $2.15B $1.83B
Total debt – $9.46B $20.74B
Shares (diluted) 36.43M 518.00M 378.10M
Enterprise value $253.37M $4.99B -$2.42B

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
MetricFENCBAXBHC
P/E -55.6x -12.1x -2.2x
P/FCF – 15.4x 1.6x
P/Operating cash flow – 9.6x 1.3x
P/S 6.9x 2.3x 0.2x
P/B 8.8x 2.1x -1.3x
P/Tangible book 8.8x 6.0x -0.4x
EV/EBITDA – 13.4x 10.0x
EV/EBIT -88.5x 38.0x 24.1x
EV/Revenue 6.2x 3.6x 2.0x
EV/FCF – 24.1x 14.9x
EV/Operating cash flow – 15.0x 11.8x
PEG (3Y EPS CAGR) -1.30 -0.42 0.03

Growth

14 metrics
MetricFENCBAXBHC
Revenue growth (1Y) 61.4% -49.1% 10.1%
Revenue CAGR (3Y) 118.1% -23.5% 9.1%
Gross profit growth (1Y) 65.9% -1.8% 11.8%
Gross profit CAGR (3Y) – -5.2% 9.8%
Operating income growth (1Y) 61.4% -50.8% -44.7%
Operating income CAGR (3Y) 46.2% 29.5% 14.1%
Net income growth (1Y) 45.1% -604.0% -1,721%
Net income CAGR (3Y) 37.0% 28.0% -76.0%
EPS growth (1Y) 58.3% -580.5% -1,206%
EPS CAGR (3Y) 42.6% 28.6% -79.0%
Operating cash flow growth (1Y) – 56.3% 19.5%
Operating cash flow CAGR (3Y) – -4.8% 83.8%
Free cash flow growth (1Y) – 153.5% 28.3%
Free cash flow CAGR (3Y) – -9.5% 62.6%

Profitability

14 metrics
MetricFENCBAXBHC
Gross margin 92.4% 68.1% 71.8%
EBITDA margin – 27.3% 19.6%
Operating margin -7.0% 9.6% 8.1%
Pretax margin -8.2% 5.1% -6.7%
Net margin -12.3% -19.2% -10.1%
FCF margin – 15.1% 13.2%
Operating cash flow margin – 24.2% 16.6%
Return on equity -11.4% -17.4% –
Return on assets -6.1% -5.4% -4.4%
Return on invested capital – 3.4% 4.6%
Return on capital employed -6.2% 3.3% 4.4%
Asset turnover 0.7x 0.3x 0.4x
Cash conversion (OCF / net income) – -1.3x -1.6x
Stock comp / revenue 14.8% 2.1% 2.1%

Financial Health

11 metrics
MetricFENCBAXBHC
Debt / assets – 47.8% 83.7%
Debt / equity – 1.5x -11.7x
Net debt / EBITDA – 4.8x 8.9x
Debt / FCF – 11.3x 14.5x
Liabilities / assets 44.0% 68.6% 107.1%
Equity / assets 56.0% 31.4% -7.1%
Interest coverage -2.5x – 0.5x
Current ratio 5.8x 1.9x 1.4x
Quick ratio 5.2x 1.1x 0.9x
Cash ratio 3.3x 0.6x 0.4x
Altman Z-score 4.00 2.12 0.09

Shareholder Returns

7 metrics
MetricFENCBAXBHC
Dividend yield – 0.2% –
Net buyback yield – -0.2% –
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.

ConsensusFENCBAXBHC
Forward P/E 36.6xFY2026 12.6xFY2026 1.3xFY2026
EPS, next fiscal year $0.29FY2026 $1.98FY2026 $4.86FY2026
EPS growth, next FY – -10.4%FY2026 +26.9%FY2026
EPS growth, the year after +241.4% -3.5% -13.4%
Revenue, next fiscal year $75.58MFY2026 $11.05BFY2026 $11.45BFY2026
Revenue growth, next FY +69.3%FY2026 -1.7%FY2026 +11.9%FY2026
Revenue growth, the year after +28.3% +11.7% -0.5%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersFENCBAXBHC
Held by institutions 46.6% 100.0% 63.3%
Institutions holding 107 690 221
Change in shares held, QoQ +0.7% +5.2% +1.9%
Institutions buying 71 359 99
Institutions selling 19 193 63
Buyers to sellers 3.74 1.86 1.57

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.

FENCBAXBHC
FENC 1.00 0.16 0.08
BAX 0.16 1.00 0.26
BHC 0.08 0.26 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, FENC, BAX and BHC?

Baxter International (BAX) is the largest by market capitalisation: Fennec Pharmaceuticals (FENC) $372.06M, Baxter International (BAX) $12.88B, Bausch Health Companies (BHC) $2.36B.

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%, Bausch Health Companies (BHC) +10.1%.

Which company is more profitable?

Bausch Health Companies (BHC) has the highest net margin (Fennec Pharmaceuticals (FENC) -12.3%, Baxter International (BAX) -19.2%, Bausch Health Companies (BHC) -10.1%). On return on invested capital, Bausch Health Companies (BHC) leads (Baxter International (BAX) 3.4%, Bausch Health Companies (BHC) 4.6%).

Which stock has performed better?

Over the past year Fennec Pharmaceuticals (FENC) returned the most: Fennec Pharmaceuticals (FENC) +20.4%, Baxter International (BAX) +7.6%, Bausch Health Companies (BHC) +1.6%. Over five years, Fennec Pharmaceuticals (FENC) compounded fastest (Fennec Pharmaceuticals (FENC) +3.4%/yr, Baxter International (BAX) -20.5%/yr, Bausch Health Companies (BHC) -25.6%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Baxter International (BAX) 0.16%, Bausch Health Companies (BHC) 0.00%. Fennec Pharmaceuticals (FENC) and Bausch Health Companies (BHC) 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) 44.3%, Bausch Health Companies (BHC) 54.7%). Volatility measures how widely the price swings, not the risk of the business.

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

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.