BAX vs. CVS: Baxter vs. CVS Health Stock Comparison

November 11, 2026

How do Baxter (BAX) and CVS Health (CVS) 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

Baxter (BAX) and CVS Health (CVS) both fall under the Health Care Equipment & Services industry group, but BAX is classified in Health Care Equipment & Supplies while CVS is classified in Health Care Providers & Services.

Company profile comparison for Baxter (BAX) and CVS Health (CVS)
Profile Item	BAX	CVS
Name	Baxter International Inc.	CVS Health Corporation Common Stock
Country/Region	United States	United States
GICS Sector	Health Care	Health Care
GICS Industry Group	Health Care Equipment & Services	Health Care Equipment & Services
GICS Industry	Health Care Equipment & Supplies	Health Care Providers & Services
GICS Sub-Industry	Health Care Equipment	Health Care Services
Market Capitalization	13.34 billion USD	107.28 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	October 27, 1981	February 21, 1973
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

BAX

CVS

GSPC

Baxter (BAX) vs. CVS Health (CVS), 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 Baxter (BAX) and CVS Health (CVS). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Baxter (BAX) and CVS Health (CVS)
Metric	BAX	CVS
Total Return (1Y)	45.72%	11.41%
Total Return (3Y, Annualized)	-5.53%	12.73%
Total Return (5Y, Annualized)	-17.96%	1.70%

Risk Profile

Drawdown History

BAX

CVS

GSPC

Baxter (BAX) vs. CVS Health (CVS), 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 Baxter (BAX) and CVS Health (CVS). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Baxter (BAX) and CVS Health (CVS)
Metric	BAX	CVS
Volatility (1Y, Annualized)	42.31%	34.14%
Beta (5Y)	0.62	0.60
Max Drawdown (5Y)	-80.61%	-56.79%
Avg. Volume (3M)	6.53M	8.60M

Risk-Adjusted Performance

Risk-Return Positioning

BAX and CVS 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 Baxter (BAX) and CVS Health (CVS)
Metric	BAX	CVS
Sharpe Ratio (1Y)	0.98	0.21
Sortino Ratio (1Y)	1.42	0.28

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 CVS Health (CVS) reports 14.36%, ranking against industry peers normally.

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%

CVS

Health Care Equipment & Services industry group

14.36%

Max: 47.61%
CVS: 14.36%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

Baxter (BAX) vs. CVS Health (CVS): 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 CVS Health (CVS) reports 2.64%, ranking against industry peers normally.

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%

CVS

Health Care Equipment & Services industry group

2.64%

Max: 29.35%
Q3: 9.33%
CVS: 2.64%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

Baxter (BAX) vs. CVS Health (CVS): A comparison of their net margin against the Health Care Equipment & Services industry group benchmark.

Operating Margin (TTM)

Both Baxter (BAX) at 9.88% and CVS Health (CVS) at 2.72% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

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%

CVS

Health Care Equipment & Services industry group

2.72%

Max: 35.43%
Q3: 14.14%
Median: 6.81%
CVS: 2.72%
Q1: -0.28%
Min: -16.29%

Baxter (BAX) vs. CVS Health (CVS): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Baxter (BAX) and CVS Health (CVS)
Metric	BAX	CVS
ROE (TTM)	-9.04%	14.36%
ROA (TTM)	2.71%	3.11%
Net Margin (TTM)	-6.23%	2.64%
Operating Margin (TTM)	9.88%	2.72%
Gross Margin (TTM)	33.37%	13.72%

Growth

Revenue Growth

Both Baxter (BAX) at 5.72% and CVS Health (CVS) at 7.85% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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

EPS Growth

Only one side can be read here: CVS Health (CVS) reports EPS growth of -62.02%, ranked against its industry; Baxter (BAX) has no EPS growth figure this period.

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

Growth Metrics

Growth metrics for Baxter (BAX) and CVS Health (CVS)
Metric	BAX	CVS
Revenue Growth (YoY)	5.72%	7.85%
Revenue Growth (3Y CAGR)	3.79%	7.63%
EPS Growth (YoY)	--	-62.02%
EPS Growth (3Y CAGR)	--	-24.73%

Financial Strength

Current Ratio (MRQ)

Baxter (BAX) at 1.79 keeps current ratio within its industry’s typical mid-range, while CVS Health (CVS) at 0.85 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for CVS.

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

CVS

Health Care Equipment & Services industry group

0.85

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
CVS: 0.85
Min: 0.30

Baxter (BAX) vs. CVS Health (CVS): A comparison of their current ratio against the Health Care Equipment & Services industry group benchmark.

Debt / Equity (MRQ)

Both Baxter (BAX) at 1.36 and CVS Health (CVS) at 0.93 lean more heavily on debt funding than most peers, landing in the higher-leverage quartile of their industries.

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

CVS

Health Care Equipment & Services industry group

0.93

Max: 1.88
CVS: 0.93
Q3: 0.91
Median: 0.58
Q1: 0.16
Min: 0.00

Baxter (BAX) vs. CVS Health (CVS): A comparison of their debt-to-equity ratio against the Health Care Equipment & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Baxter (BAX) and CVS Health (CVS)
Metric	BAX	CVS
Current Ratio (MRQ)	1.79	0.85
Debt / Equity (MRQ)	1.36	0.93
Net Debt / EBITDA	3.73	3.49

Dividends

Dividend Yield (TTM)

Both Baxter (BAX) at 0.16% and CVS Health (CVS) at 3.27% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.

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%

CVS

Health Care Equipment & Services industry group

3.27%

CVS: 3.27%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Baxter (BAX) vs. CVS Health (CVS): 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 CVS Health (CVS) reports 30.89%, ranking against industry peers normally.

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%

CVS

Health Care Equipment & Services industry group

30.89%

CVS: 30.89%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Baxter (BAX) vs. CVS Health (CVS): A comparison of their payout ratio against the Health Care Equipment & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Baxter (BAX) and CVS Health (CVS)
Metric	BAX	CVS
Dividend Yield (TTM)	0.16%	3.27%
Dividend Payout Ratio (TTM)	154.67%	30.89%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: CVS Health (CVS) trades at 9.74 times trailing earnings, ranked against its peers, while Baxter (BAX) has no P/E ratio this period.

BAX

Health Care Equipment & Services industry group

Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
Min: 4.21
BAX: --

CVS

Health Care Equipment & Services industry group

9.74

Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
CVS: 9.74
Min: 4.21

Baxter (BAX) vs. CVS Health (CVS): BAX does not report P/E ratio, so it has no value marker; CVS is benchmarked against the Health Care Equipment & Services industry group.

P/S Ratio (TTM)

CVS Health (CVS) at 0.26 sits in the cheaper P/S ratio quartile while Baxter (BAX) at 1.15 prices around its industry’s middle — CVS costs less per dollar of sales, though read it alongside growth and margins.

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

CVS

Health Care Equipment & Services industry group

0.26

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
CVS: 0.26
Min: 0.03

Baxter (BAX) vs. CVS Health (CVS): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

CVS Health (CVS) at 1.33 sits in the lower P/B ratio quartile against book while Baxter (BAX) at 2.05 is valued near its industry’s middle — CVS is cheaper on assets, though weigh it against ROE and asset quality.

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

CVS

Health Care Equipment & Services industry group

1.33

Max: 11.68
Q3: 6.12
Median: 3.00
Q1: 1.73
CVS: 1.33
Min: -1.31

Baxter (BAX) vs. CVS Health (CVS): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Baxter (BAX) and CVS Health (CVS)
Metric	BAX	CVS
P/E Ratio (TTM)	--	9.74
P/S Ratio (TTM)	1.15	0.26
P/B Ratio (MRQ)	2.05	1.33
Free Cash Flow Yield (TTM)	9.16%	11.02%