Baxter International Inc. (BAX) vs Bausch + Lomb Corporation (BLCO)

Baxter International Inc. and Bausch + Lomb Corporation are both Medical Instruments & Supplies companies. Baxter International Inc. is the larger, with a market value of $12.2B against $6.0B — 2.0× the size. Bausch + Lomb Corporation grew revenue faster over the last twelve months: 8.85% against 5.36%. Bausch + Lomb Corporation has the higher net margin (−3.21% vs −9.27%) and the higher return on invested capital (1.81% vs −1.27%). Across the 20 metrics below, Bausch + Lomb Corporation leads on 12 and Baxter International Inc. on 8.

Valuation

Metric BAX BLCO Medical Instruments & Supplies median
P/E n/m n/m 34.17
P/S 1.05 1.13 2.83
P/B 1.96 0.94 2.82
Price to free cash flow 14.82 53.95 25.69
EV/EBITDA 13.34 14.39 16.08
EV/Sales 1.69 2.02 3.06
Earnings yield (8.86%) (2.84%) (1.84%)
Free cash flow yield 6.75% 1.85% 0.17%

Profitability

Metric BAX BLCO Medical Instruments & Supplies median
Gross margin 30.08% 61.44% 54.62%
Operating margin (2.39%) 6.07% 1.64%
Net margin (9.27%) (3.21%) 0.00%
Free cash flow margin 7.11% 2.57% 1.61%
Return on equity (15.78%) (2.64%) 0.00%
Return on assets (5.21%) (1.24%) 0.00%
Return on invested capital (1.27%) 1.81% 0.00%

Growth

Metric BAX BLCO Medical Instruments & Supplies median
Revenue growth (TTM) 5.36% 8.85% 9.20%
EPS growth (last fiscal year) (47.24%) (13.33%) —
Revenue growth, 5-year CAGR (0.75%) 8.38% 9.48%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BAX BLCO Medical Instruments & Supplies median
Debt to equity 1.53 0.79 0.08
Current ratio 1.95 1.55 2.49
Net debt to EBITDA 5.19 8.49 0.83

Dividend

Metric BAX BLCO Medical Instruments & Supplies median
Dividend yield 2.60% — 0.99%
Payout ratio 0.57 — 0.00

Size

Metric BAX BLCO Medical Instruments & Supplies median
Market cap 12.15b 6.00b 938.39m

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