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BAX vs. SOLV: Baxter vs. Solventum Stock Comparison

How do Baxter (BAX) and Solventum (SOLV) 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 Solventum (SOLV) both belong to the Health Care Equipment & Supplies industry, though BAX is classified under Health Care Equipment while SOLV falls under Health Care Supplies.

Baxter (BAX) carries decades of public-market history since October 27, 1981, while Solventum (SOLV) listed on March 26, 2024 — long-window comparisons have far more historical data on the BAX side.

Company profile comparison for Baxter (BAX) and Solventum (SOLV)
Profile ItemBAXSOLV
NameBaxter International Inc.Solventum Corporation
Country/RegionUnited StatesUnited 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 EquipmentHealth Care Supplies
Market Capitalization13.34 billion USD15.36 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateOctober 27, 1981March 26, 2024
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

BAX
SOLV
GSPC
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Baxter (BAX) vs. Solventum (SOLV), 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 Solventum (SOLV). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Baxter (BAX) and Solventum (SOLV)
MetricBAXSOLV
Total Return (1Y)45.72%25.89%
Total Return (3Y, Annualized)-5.53%--
Total Return (5Y, Annualized)-17.96%--

Risk Profile

Drawdown History

BAX
SOLV
GSPC
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Baxter (BAX) vs. Solventum (SOLV), 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 Solventum (SOLV). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Baxter (BAX) and Solventum (SOLV)
MetricBAXSOLV
Volatility (1Y, Annualized)42.31%30.06%
Beta (5Y)0.620.62
Max Drawdown (5Y)-80.61%-39.98%
Avg. Volume (3M)6.53M1.05M

Risk-Adjusted Performance

Risk-Return Positioning

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BAX and SOLV 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 Solventum (SOLV)
MetricBAXSOLV
Sharpe Ratio (1Y)0.980.72
Sortino Ratio (1Y)1.421.08

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 Solventum (SOLV) reports 3.19%, 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%

SOLV

Health Care Equipment & Services industry group

3.19%

Max
47.61%
Q3
14.36%
Median
5.45%
SOLV
3.19%
Q1
-10.67%
Min
-47.01%
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Baxter (BAX) vs. Solventum (SOLV): 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 Solventum (SOLV) reports 1.91%, 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%

SOLV

Health Care Equipment & Services industry group

1.91%

Max
29.35%
Q3
9.33%
Median
2.18%
SOLV
1.91%
Q1
-6.29%
Min
-28.46%
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Baxter (BAX) vs. Solventum (SOLV): 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 Solventum (SOLV) at 6.82% 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%

SOLV

Health Care Equipment & Services industry group

6.82%

Max
35.43%
Q3
14.14%
SOLV
6.82%
Median
6.81%
Q1
-0.28%
Min
-16.29%
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Baxter (BAX) vs. Solventum (SOLV): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Baxter (BAX) and Solventum (SOLV)
MetricBAXSOLV
ROE (TTM)-9.04%3.19%
ROA (TTM)2.71%2.29%
Net Margin (TTM)-6.23%1.91%
Operating Margin (TTM)9.88%6.82%
Gross Margin (TTM)33.37%55.13%

Growth

Revenue Growth

Baxter (BAX) at 5.72% is around its peer norm for revenue growth, while Solventum (SOLV) at 0.86% drops into the bottom quartile, signaling weaker demand or pricing momentum.

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

EPS Growth

Only one side can be read here: Solventum (SOLV) reports EPS growth of 221.74%, ranked against its industry; Baxter (BAX) has no EPS growth figure this period.

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

Growth Metrics

Growth metrics for Baxter (BAX) and Solventum (SOLV)
MetricBAXSOLV
Revenue Growth (YoY)5.72%0.86%
Revenue Growth (3Y CAGR)3.79%0.79%
EPS Growth (YoY)--221.74%
EPS Growth (3Y CAGR)--4.51%

Financial Strength

Current Ratio (MRQ)

Baxter (BAX) at 1.79 keeps current ratio within its industry’s typical mid-range, while Solventum (SOLV) at 1.03 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for SOLV.

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

SOLV

Health Care Equipment & Services industry group

1.03

Max
7.59
Q3
4.00
Median
1.98
Q1
1.37
SOLV
1.03
Min
0.30
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Baxter (BAX) vs. Solventum (SOLV): 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 Solventum (SOLV) at 1.10 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

SOLV

Health Care Equipment & Services industry group

1.10

Max
1.88
SOLV
1.10
Q3
0.91
Median
0.58
Q1
0.16
Min
0.00
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Baxter (BAX) vs. Solventum (SOLV): 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 Solventum (SOLV)
MetricBAXSOLV
Current Ratio (MRQ)1.791.03
Debt / Equity (MRQ)1.361.10
Net Debt / EBITDA3.734.66

Dividends

Dividend Yield (TTM)

Solventum (SOLV) 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%

SOLV

Health Care Equipment & Services industry group

0.00%

SOLV
0.00%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Baxter (BAX) vs. Solventum (SOLV): 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; Solventum (SOLV) 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%

SOLV

Health Care Equipment & Services industry group

0.00%

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

Dividend Metrics

Dividend metrics for Baxter (BAX) and Solventum (SOLV)
MetricBAXSOLV
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: Solventum (SOLV) trades at 101.55 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
--

SOLV

Health Care Equipment & Services industry group

101.55

SOLV
101.55
Max
80.41
Q3
47.62
Median
29.93
Q1
21.19
Min
4.21
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Baxter (BAX) vs. Solventum (SOLV): BAX does not report P/E ratio, so it has no value marker; SOLV is benchmarked against the Health Care Equipment & Services industry group.

P/S Ratio (TTM)

On P/S ratio, both Baxter (BAX) at 1.15 and Solventum (SOLV) at 1.88 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

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

SOLV

Health Care Equipment & Services industry group

1.88

Max
8.80
Q3
4.32
Median
2.13
SOLV
1.88
Q1
1.10
Min
0.03
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Baxter (BAX) vs. Solventum (SOLV): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Baxter (BAX) at 2.05 and Solventum (SOLV) at 3.20 are valued close to their industries’ norm against book — neither stands out from peers.

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

SOLV

Health Care Equipment & Services industry group

3.20

Max
11.68
Q3
6.12
SOLV
3.20
Median
3.00
Q1
1.73
Min
-1.31
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Baxter (BAX) vs. Solventum (SOLV): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Baxter (BAX) and Solventum (SOLV)
MetricBAXSOLV
P/E Ratio (TTM)--101.55
P/S Ratio (TTM)1.151.88
P/B Ratio (MRQ)2.053.20
Free Cash Flow Yield (TTM)9.16%1.31%