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ALC vs. BAX: Alcon vs. Baxter Stock Comparison

How do Alcon (ALC) and Baxter (BAX) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Alcon (ALC) and Baxter (BAX) both belong to the Health Care Equipment & Supplies industry, though ALC is classified under Health Care Supplies while BAX falls under Health Care Equipment.

Company profile comparison for Alcon (ALC) and Baxter (BAX)
Profile ItemALCBAX
NameAlcon Inc.Baxter International Inc.
Country/RegionSwitzerlandUnited States
GICS SectorHealth CareHealth Care
GICS Industry GroupHealth Care Equipment & ServicesHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & SuppliesHealth Care Equipment & Supplies
GICS Sub-IndustryHealth Care SuppliesHealth Care Equipment
Market Capitalization36.23 billion USD13.34 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateApril 9, 2019October 27, 1981
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

ALC
BAX
GSPC
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Alcon (ALC) vs. Baxter (BAX), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Alcon (ALC) and Baxter (BAX). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Alcon (ALC) and Baxter (BAX). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Alcon (ALC) and Baxter (BAX)
MetricALCBAX
Total Return (1Y)1.20%45.72%
Total Return (3Y, Annualized)1.17%-5.53%
Total Return (5Y, Annualized)-2.77%-17.96%

Risk Profile

Drawdown History

ALC
BAX
GSPC
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Alcon (ALC) vs. Baxter (BAX), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Alcon (ALC) and Baxter (BAX). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Alcon (ALC) and Baxter (BAX)
MetricALCBAX
Volatility (1Y, Annualized)29.23%42.31%
Beta (5Y)0.840.62
Max Drawdown (5Y)-37.93%-80.61%
Avg. Volume (3M)1.74M6.53M

Risk-Adjusted Performance

Risk-Return Positioning

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ALC and BAX are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Alcon (ALC) and Baxter (BAX)
MetricALCBAX
Sharpe Ratio (1Y)-0.110.98
Sortino Ratio (1Y)-0.151.42

Profitability

ROE (TTM)

Baxter (BAX) reports a negative ROE of -9.04%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Alcon (ALC) reports 2.94%, ranking against industry peers normally.

ALC

Health Care Equipment & Services industry group

2.94%

Max
47.61%
Q3
14.36%
Median
5.45%
ALC
2.94%
Q1
-10.67%
Min
-47.01%

BAX

Health Care Equipment & Services industry group

-9.04%

Max
47.61%
Q3
14.36%
Median
5.45%
BAX
-9.04%
Q1
-10.67%
Min
-47.01%
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Alcon (ALC) vs. Baxter (BAX): A comparison of their ROE against the Health Care Equipment & Services industry group benchmark.

Net Margin (TTM)

Baxter (BAX) reports a negative net margin of -6.23%, usually indicating a net loss over the period. Meanwhile Alcon (ALC) reports 5.92%, ranking against industry peers normally.

ALC

Health Care Equipment & Services industry group

5.92%

Max
29.35%
Q3
9.33%
ALC
5.92%
Median
2.18%
Q1
-6.29%
Min
-28.46%

BAX

Health Care Equipment & Services industry group

-6.23%

Max
29.35%
Q3
9.33%
Median
2.18%
BAX
-6.23%
Q1
-6.29%
Min
-28.46%
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Alcon (ALC) vs. Baxter (BAX): A comparison of their net margin against the Health Care Equipment & Services industry group benchmark.

Operating Margin (TTM)

Alcon (ALC) at 14.63% operates in the top operating margin quartile, ahead of Baxter (BAX) at 9.88%, which runs around its industry’s norm.

ALC

Health Care Equipment & Services industry group

14.63%

Max
35.43%
ALC
14.63%
Q3
14.14%
Median
6.81%
Q1
-0.28%
Min
-16.29%

BAX

Health Care Equipment & Services industry group

9.88%

Max
35.43%
Q3
14.14%
BAX
9.88%
Median
6.81%
Q1
-0.28%
Min
-16.29%
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Alcon (ALC) vs. Baxter (BAX): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Alcon (ALC) and Baxter (BAX)
MetricALCBAX
ROE (TTM)2.94%-9.04%
ROA (TTM)2.80%2.71%
Net Margin (TTM)5.92%-6.23%
Operating Margin (TTM)14.63%9.88%
Gross Margin (TTM)57.22%33.37%

Growth

Revenue Growth

Both Alcon (ALC) at 4.94% and Baxter (BAX) at 5.72% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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Alcon (ALC) vs. Baxter (BAX): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Alcon (ALC) reports EPS growth of -3.41%, ranked against its industry; Baxter (BAX) has no EPS growth figure this period.

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Alcon (ALC) vs. Baxter (BAX): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Alcon (ALC) and Baxter (BAX)
MetricALCBAX
Revenue Growth (YoY)4.94%5.72%
Revenue Growth (3Y CAGR)6.06%3.79%
EPS Growth (YoY)-3.41%--
EPS Growth (3Y CAGR)42.80%--

Financial Strength

Current Ratio (MRQ)

Both Alcon (ALC) at 2.09 and Baxter (BAX) at 1.79 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

ALC

Health Care Equipment & Services industry group

2.09

Max
7.59
Q3
4.00
ALC
2.09
Median
1.98
Q1
1.37
Min
0.30

BAX

Health Care Equipment & Services industry group

1.79

Max
7.59
Q3
4.00
Median
1.98
BAX
1.79
Q1
1.37
Min
0.30
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Alcon (ALC) vs. Baxter (BAX): A comparison of their current ratio against the Health Care Equipment & Services industry group benchmark.

Debt / Equity (MRQ)

Alcon (ALC) at 0.25 carries an industry-typical debt-to-equity mix, while Baxter (BAX) at 1.36 uses more debt funding than most peers.

ALC

Health Care Equipment & Services industry group

0.25

Max
1.88
Q3
0.91
Median
0.58
ALC
0.25
Q1
0.16
Min
0.00

BAX

Health Care Equipment & Services industry group

1.36

Max
1.88
BAX
1.36
Q3
0.91
Median
0.58
Q1
0.16
Min
0.00
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Alcon (ALC) vs. Baxter (BAX): A comparison of their debt-to-equity ratio against the Health Care Equipment & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Alcon (ALC) and Baxter (BAX)
MetricALCBAX
Current Ratio (MRQ)2.091.79
Debt / Equity (MRQ)0.251.36
Net Debt / EBITDA1.603.73

Dividends

Dividend Yield (TTM)

Both Alcon (ALC) at 0.46% and Baxter (BAX) at 0.16% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.

ALC

Health Care Equipment & Services industry group

0.46%

ALC
0.46%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%

BAX

Health Care Equipment & Services industry group

0.16%

BAX
0.16%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Alcon (ALC) vs. Baxter (BAX): A comparison of their dividend yield against the Health Care Equipment & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Baxter (BAX) reports payout ratio above 100% at 154.67%, meaning dividends exceeded current-period earnings and sustainability needs extra context. Meanwhile Alcon (ALC) reports 26.56%, ranking against industry peers normally.

ALC

Health Care Equipment & Services industry group

26.56%

ALC
26.56%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%

BAX

Health Care Equipment & Services industry group

154.67%

BAX
154.67%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Alcon (ALC) vs. Baxter (BAX): A comparison of their payout ratio against the Health Care Equipment & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Alcon (ALC) and Baxter (BAX)
MetricALCBAX
Dividend Yield (TTM)0.46%0.16%
Dividend Payout Ratio (TTM)26.56%154.67%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Alcon (ALC) trades at 56.77 times trailing earnings, ranked against its peers, while Baxter (BAX) has no P/E ratio this period.

ALC

Health Care Equipment & Services industry group

56.77

Max
80.41
ALC
56.77
Q3
47.62
Median
29.93
Q1
21.19
Min
4.21

BAX

Health Care Equipment & Services industry group

--

Max
80.41
Q3
47.62
Median
29.93
Q1
21.19
Min
4.21
BAX
--
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Alcon (ALC) vs. Baxter (BAX): BAX does not report P/E ratio, so it has no value marker; ALC is benchmarked against the Health Care Equipment & Services industry group.

P/S Ratio (TTM)

On P/S ratio, both Alcon (ALC) at 3.34 and Baxter (BAX) at 1.15 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

ALC

Health Care Equipment & Services industry group

3.34

Max
8.80
Q3
4.32
ALC
3.34
Median
2.13
Q1
1.10
Min
0.03

BAX

Health Care Equipment & Services industry group

1.15

Max
8.80
Q3
4.32
Median
2.13
BAX
1.15
Q1
1.10
Min
0.03
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Alcon (ALC) vs. Baxter (BAX): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

Alcon (ALC) at 1.68 sits in the lower P/B ratio quartile against book while Baxter (BAX) at 2.05 is valued near its industry’s middle — ALC is cheaper on assets, though weigh it against ROE and asset quality.

ALC

Health Care Equipment & Services industry group

1.68

Max
11.68
Q3
6.12
Median
3.00
Q1
1.73
ALC
1.68
Min
-1.31

BAX

Health Care Equipment & Services industry group

2.05

Max
11.68
Q3
6.12
Median
3.00
BAX
2.05
Q1
1.73
Min
-1.31
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Alcon (ALC) vs. Baxter (BAX): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Alcon (ALC) and Baxter (BAX)
MetricALCBAX
P/E Ratio (TTM)56.77--
P/S Ratio (TTM)3.341.15
P/B Ratio (MRQ)1.682.05
Free Cash Flow Yield (TTM)3.51%9.16%