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 $13.3B against $7.1B — 1.9× the size. Bausch + Lomb Corporation grew revenue faster over the last twelve months: 8.88% against 5.33%. Bausch + Lomb Corporation has the higher net margin (−2.05% vs −6.23%) and the higher return on invested capital (2.16% vs −1.05%). 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 30.28
P/S 1.14 1.32 2.49
P/B 2.04 1.10 2.34
Price to free cash flow 11.63 31.41 23.49
EV/EBITDA 13.15 14.62 14.87
EV/Sales 1.71 2.16 2.75
Earnings yield (5.52%) (1.52%) 0.00%
Free cash flow yield 8.60% 3.18% 0.59%

Profitability

Metric BAX BLCO Medical Instruments & Supplies median
Gross margin 30.09% 62.55% 53.60%
Operating margin (1.90%) 7.07% 1.97%
Net margin (6.23%) (2.05%) 0.00%
Free cash flow margin 9.79% 4.65% 2.36%
Return on equity (10.56%) (1.71%) 0.00%
Return on assets (3.57%) (0.80%) 0.00%
Return on invested capital (1.05%) 2.16% 0.13%

Growth

Metric BAX BLCO Medical Instruments & Supplies median
Revenue growth (TTM) 5.33% 8.88% 8.97%
EPS growth (last fiscal year) (47.24%) (13.33%) 6.51%
Revenue growth, 5-year CAGR (0.75%) 8.38% 8.85%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BAX BLCO Medical Instruments & Supplies median
Debt to equity 1.33 0.78 0.10
Current ratio 1.79 1.56 2.47
Net debt to EBITDA 5.19 8.49 0.97

Dividend

Metric BAX BLCO Medical Instruments & Supplies median
Dividend yield 0.16% — 1.02%
Payout ratio — — 0.27

Size

Metric BAX BLCO Medical Instruments & Supplies median
Market cap 13.27b 7.12b 1.71b

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