AptarGroup, Inc. (ATR) vs Baxter International Inc. (BAX)

AptarGroup, Inc. and Baxter International Inc. are both Medical Instruments & Supplies companies. Baxter International Inc. is the larger, with a market value of $13.3B against $7.9B — 1.7× the size. Baxter International Inc. has negative trailing earnings, so its P/E is not meaningful; AptarGroup, Inc. trades at 22.2×. AptarGroup, Inc. grew revenue faster over the last twelve months: 8.93% against 5.36%. AptarGroup, Inc. has the higher net margin (9.22% vs −9.27%) and the higher return on invested capital (7.82% vs −1.27%). Both pay a dividend; AptarGroup, Inc. yields more (1.54% vs 0.16%). Across the 22 metrics below, AptarGroup, Inc. leads on 16 and Baxter International Inc. on 6.

Valuation

Metric ATR BAX Medical Instruments & Supplies median
P/E 22.23 n/m 33.75
P/S 2.01 1.14 2.52
P/B 2.99 2.12 2.48
Price to free cash flow 25.19 16.07 25.19
EV/EBITDA 11.59 14.03 14.62
EV/Sales 2.31 1.78 2.88
Earnings yield 4.50% (8.17%) (2.67%)
Free cash flow yield 3.97% 6.22% 0.09%

Profitability

Metric ATR BAX Medical Instruments & Supplies median
Gross margin 36.07% 30.08% 54.29%
Operating margin 12.14% (2.39%) 1.07%
Net margin 9.22% (9.27%) (1.61%)
Free cash flow margin 8.00% 7.11% 1.08%
Return on equity 13.52% (15.78%) (1.32%)
Return on assets 7.25% (5.21%) 0.00%
Return on invested capital 7.82% (1.27%) 0.00%

Growth

Metric ATR BAX Medical Instruments & Supplies median
Revenue growth (TTM) 8.93% 5.36% 8.85%
EPS growth (last fiscal year) 6.51% (47.24%) 8.65%
Revenue growth, 5-year CAGR 5.22% (0.75%) 9.17%
Net income growth, 5-year CAGR 12.91% 0.00% 0.00%

Health

Metric ATR BAX Medical Instruments & Supplies median
Debt to equity 0.52 1.53 0.10
Current ratio 1.61 1.95 2.48
Net debt to EBITDA 1.36 5.19 0.89

Dividend

Metric ATR BAX Medical Instruments & Supplies median
Dividend yield 1.54% 0.16% 1.11%
Payout ratio 0.35 — 0.27

Size

Metric ATR BAX Medical Instruments & Supplies median
Market cap 7.90b 13.32b 619.84m

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