Baxter International Inc. (BAX) vs Repligen Corporation (RGEN)

Baxter International Inc. and Repligen Corporation are both Medical Instruments & Supplies companies. Baxter International Inc. is the larger, with a market value of $13.3B against $10.8B — 1.2× the size. Repligen Corporation grew revenue faster over the last twelve months: 13.8% against 5.33%. Repligen Corporation has the higher net margin (−1.47% vs −6.23%) and the higher return on invested capital (0.64% vs −1.05%). Across the 21 metrics below, Repligen Corporation leads on 14 and Baxter International Inc. on 7.

Valuation

Metric BAX RGEN Medical Instruments & Supplies median
P/E n/m n/m 30.28
P/S 1.14 11.87 2.49
P/B 2.04 4.57 2.34
Price to free cash flow 11.63 170.11 23.49
EV/EBITDA 13.15 60.12 14.87
EV/Sales 1.71 11.57 2.75
Earnings yield (5.52%) (0.12%) 0.00%
Free cash flow yield 8.60% 0.59% 0.59%

Profitability

Metric BAX RGEN Medical Instruments & Supplies median
Gross margin 30.09% 53.46% 53.60%
Operating margin (1.90%) 2.26% 1.97%
Net margin (6.23%) (1.47%) 0.00%
Free cash flow margin 9.79% 13.09% 2.36%
Return on equity (10.56%) (0.57%) 0.00%
Return on assets (3.57%) (0.40%) 0.00%
Return on invested capital (1.05%) 0.64% 0.13%

Growth

Metric BAX RGEN Medical Instruments & Supplies median
Revenue growth (TTM) 5.33% 13.80% 8.97%
EPS growth (last fiscal year) (47.24%) 286.96% 6.51%
Revenue growth, 5-year CAGR (0.75%) 15.05% 8.85%
Net income growth, 5-year CAGR 0.00% (3.99%) 0.00%

Health

Metric BAX RGEN Medical Instruments & Supplies median
Debt to equity 1.33 0.27 0.10
Current ratio 1.79 9.88 2.47
Net debt to EBITDA 5.19 (1.50) 0.97

Dividend

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

Size

Metric BAX RGEN Medical Instruments & Supplies median
Market cap 13.27b 10.77b 1.71b

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