BAX vs. DXCM: Baxter vs. DexCom Stock Comparison

November 11, 2026

How do Baxter (BAX) and DexCom (DXCM) 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 DexCom (DXCM) are both classified in the Health Care Equipment sub-industry within the broader Health Care Equipment & Supplies industry, placing them in the closest GICS peer bucket.

Company profile comparison for Baxter (BAX) and DexCom (DXCM)
Profile Item	BAX	DXCM
Name	Baxter International Inc.	DexCom Inc.
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 Equipment & Supplies
GICS Sub-Industry	Health Care Equipment	Health Care Equipment
Market Capitalization	13.34 billion USD	29.62 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	October 27, 1981	April 14, 2005
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

BAX

DXCM

GSPC

Baxter (BAX) vs. DexCom (DXCM), 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

Loading price history…

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

Calendar-Year Returns

Loading price history…

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

Performance Metrics

Price performance metrics for Baxter (BAX) and DexCom (DXCM)
Metric	BAX	DXCM
Total Return (1Y)	45.72%	46.33%
Total Return (3Y, Annualized)	-5.53%	-4.50%
Total Return (5Y, Annualized)	-17.96%	-12.76%

Risk Profile

Drawdown History

BAX

DXCM

GSPC

Baxter (BAX) vs. DexCom (DXCM), 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

Loading price history…

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

Risk Metrics

DexCom (DXCM) has an aggressive beta of 1.43, indicating higher sensitivity to broad-market moves, while Baxter (BAX) is defensive at 0.62 and tends to be less market-sensitive — they sit on opposite ends of the beta spectrum.

Risk profile metrics for Baxter (BAX) and DexCom (DXCM)
Metric	BAX	DXCM
Volatility (1Y, Annualized)	42.31%	38.37%
Beta (5Y)	0.62	1.43
Max Drawdown (5Y)	-80.61%	-66.32%
Avg. Volume (3M)	6.53M	4.34M

Risk-Adjusted Performance

Risk-Return Positioning

BAX and DXCM 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 DexCom (DXCM)
Metric	BAX	DXCM
Sharpe Ratio (1Y)	0.98	1.10
Sortino Ratio (1Y)	1.42	1.79

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 DexCom (DXCM) reports 37.67%, 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%

DXCM

Health Care Equipment & Services industry group

37.67%

Max: 47.61%
DXCM: 37.67%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

Baxter (BAX) vs. DexCom (DXCM): 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 DexCom (DXCM) reports 19.42%, 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%

DXCM

Health Care Equipment & Services industry group

19.42%

Max: 29.35%
DXCM: 19.42%
Q3: 9.33%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

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

Operating Margin (TTM)

DexCom (DXCM) at 24.34% operates in the top operating margin quartile, ahead of Baxter (BAX) at 9.88%, which runs around its industry’s norm.

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%

DXCM

Health Care Equipment & Services industry group

24.34%

Max: 35.43%
DXCM: 24.34%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

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

Profitability Metrics

Profitability metrics for Baxter (BAX) and DexCom (DXCM)
Metric	BAX	DXCM
ROE (TTM)	-9.04%	37.67%
ROA (TTM)	2.71%	11.14%
Net Margin (TTM)	-6.23%	19.42%
Operating Margin (TTM)	9.88%	24.34%
Gross Margin (TTM)	33.37%	63.42%

Growth

Revenue Growth

Both Baxter (BAX) at 5.72% and DexCom (DXCM) at 15.60% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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

EPS Growth

Only one side can be read here: DexCom (DXCM) reports EPS growth of 47.18%, ranked against its industry; Baxter (BAX) has no EPS growth figure this period.

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

Growth Metrics

Growth metrics for Baxter (BAX) and DexCom (DXCM)
Metric	BAX	DXCM
Revenue Growth (YoY)	5.72%	15.60%
Revenue Growth (3Y CAGR)	3.79%	17.01%
EPS Growth (YoY)	--	47.18%
EPS Growth (3Y CAGR)	--	36.60%

Financial Strength

Current Ratio (MRQ)

Both Baxter (BAX) at 1.79 and DexCom (DXCM) at 1.74 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

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

DXCM

Health Care Equipment & Services industry group

1.74

Max: 7.59
Q3: 4.00
Median: 1.98
DXCM: 1.74
Q1: 1.37
Min: 0.30

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

Debt / Equity (MRQ)

DexCom (DXCM) at 0.55 carries an industry-typical debt-to-equity mix, while Baxter (BAX) at 1.36 uses more debt funding than most peers.

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

DXCM

Health Care Equipment & Services industry group

0.55

Max: 1.88
Q3: 0.91
Median: 0.58
DXCM: 0.55
Q1: 0.16
Min: 0.00

Baxter (BAX) vs. DexCom (DXCM): 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 DexCom (DXCM)
Metric	BAX	DXCM
Current Ratio (MRQ)	1.79	1.74
Debt / Equity (MRQ)	1.36	0.55
Net Debt / EBITDA	3.73	-0.28

Dividends

Dividend Yield (TTM)

DexCom (DXCM) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Baxter (BAX) reports a yield of 0.16%, ranking against industry peers normally.

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%

DXCM

Health Care Equipment & Services industry group

0.00%

DXCM: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Baxter (BAX) vs. DexCom (DXCM): 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; DexCom (DXCM) pays no dividend (payout 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%

DXCM

Health Care Equipment & Services industry group

0.00%

DXCM: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Baxter (BAX) and DexCom (DXCM)
Metric	BAX	DXCM
Dividend Yield (TTM)	0.16%	0.00%
Dividend Payout Ratio (TTM)	154.67%	0.00%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: DexCom (DXCM) trades at 31.26 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: --

DXCM

Health Care Equipment & Services industry group

31.26

Max: 80.41
Q3: 47.62
DXCM: 31.26
Median: 29.93
Q1: 21.19
Min: 4.21

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

P/S Ratio (TTM)

Baxter (BAX) at 1.15 is priced about in line with its industry on P/S ratio, while DexCom (DXCM) at 5.80 sits in the pricier quartile — DXCM costs more per dollar of sales.

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

DXCM

Health Care Equipment & Services industry group

5.80

Max: 8.80
DXCM: 5.80
Q3: 4.32
Median: 2.13
Q1: 1.10
Min: 0.03

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

P/B Ratio (MRQ)

Baxter (BAX) at 2.05 is valued about in line with its industry on P/B ratio, while DexCom (DXCM) at 11.68 carries an above-peer premium to book — DXCM is pricier on assets.

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

DXCM

Health Care Equipment & Services industry group

11.68

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

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

Valuation Metrics

Valuation metrics for Baxter (BAX) and DexCom (DXCM)
Metric	BAX	DXCM
P/E Ratio (TTM)	--	31.26
P/S Ratio (TTM)	1.15	5.80
P/B Ratio (MRQ)	2.05	11.68
Free Cash Flow Yield (TTM)	9.16%	2.74%