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 $12.2B against $7.8B — 1.5× the size. Baxter International Inc. has negative trailing earnings, so its P/E is not meaningful; AptarGroup, Inc. trades at 22.1×. 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; Baxter International Inc. yields more (2.60% vs 1.37%). Across the 22 metrics below, AptarGroup, Inc. leads on 15 and Baxter International Inc. on 7.

Valuation

Metric ATR BAX Medical Instruments & Supplies median
P/E 22.12 n/m 34.17
P/S 2.00 1.05 2.83
P/B 2.98 1.96 2.82
Price to free cash flow 25.06 14.82 25.69
EV/EBITDA 11.54 13.34 16.08
EV/Sales 2.30 1.69 3.06
Earnings yield 4.52% (8.86%) (1.84%)
Free cash flow yield 3.99% 6.75% 0.17%

Profitability

Metric ATR BAX Medical Instruments & Supplies median
Gross margin 36.07% 30.08% 54.62%
Operating margin 12.14% (2.39%) 1.64%
Net margin 9.22% (9.27%) 0.00%
Free cash flow margin 8.00% 7.11% 1.61%
Return on equity 13.52% (15.78%) 0.00%
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% 9.20%
EPS growth (last fiscal year) 6.51% (47.24%) —
Revenue growth, 5-year CAGR 5.22% (0.75%) 9.48%
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 0.08
Current ratio 1.61 1.95 2.49
Net debt to EBITDA 1.36 5.19 0.83

Dividend

Metric ATR BAX Medical Instruments & Supplies median
Dividend yield 1.37% 2.60% 0.99%
Payout ratio 0.40 0.57 0.00

Size

Metric ATR BAX Medical Instruments & Supplies median
Market cap 7.84b 12.15b 938.39m

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