Baxter International Inc. (BAX) vs Medline Inc. (MDLN)

Baxter International Inc. and Medline Inc. are both Medical Instruments & Supplies companies. Medline Inc. is the larger, with a market value of $45.5B against $12.2B — 3.7× the size. Medline Inc. has the higher net margin (2.37% vs −9.27%) and the higher return on invested capital (19.9% vs −1.27%). Across the 16 metrics below, Medline Inc. leads on 16 and Baxter International Inc. on 0.

Valuation

Metric BAX MDLN Medical Instruments & Supplies median
P/E n/m — 34.17
P/S 1.05 1.00 2.83
P/B 1.96 1.56 2.82
Price to free cash flow 14.82 12.91 25.69
EV/EBITDA 13.34 3.95 16.08
EV/Sales 1.69 1.33 3.06
Earnings yield (8.86%) — (1.84%)
Free cash flow yield 6.75% 7.75% 0.17%

Profitability

Metric BAX MDLN Medical Instruments & Supplies median
Gross margin 30.08% 46.27% 54.62%
Operating margin (2.39%) 31.12% 1.64%
Net margin (9.27%) 2.37% 0.00%
Free cash flow margin 7.11% 7.75% 1.61%
Return on equity (15.78%) 0.00% 0.00%
Return on assets (5.21%) 3.58% 0.00%
Return on invested capital (1.27%) 19.94% 0.00%

Growth

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

Health

Metric BAX MDLN Medical Instruments & Supplies median
Debt to equity 1.53 0.66 0.08
Current ratio 1.95 4.33 2.49
Net debt to EBITDA 5.19 3.24 0.83

Dividend

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

Size

Metric BAX MDLN Medical Instruments & Supplies median
Market cap 12.15b 45.52b 938.39m

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