BAX vs. VEEV: Baxter vs. Veeva Systems Stock Comparison

November 11, 2026

How do Baxter (BAX) and Veeva Systems (VEEV) 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 Veeva Systems (VEEV) both fall under the Health Care Equipment & Services industry group, but BAX is classified in Health Care Equipment & Supplies while VEEV is classified in Health Care Technology.

Company profile comparison for Baxter (BAX) and Veeva Systems (VEEV)
Profile Item	BAX	VEEV
Name	Baxter International Inc.	Veeva Systems 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 Technology
GICS Sub-Industry	Health Care Equipment	Health Care Technology
Market Capitalization	13.34 billion USD	49.18 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	October 27, 1981	October 16, 2013
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

BAX

VEEV

GSPC

Baxter (BAX) vs. Veeva Systems (VEEV), 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 Veeva Systems (VEEV). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Baxter (BAX) and Veeva Systems (VEEV)
Metric	BAX	VEEV
Total Return (1Y)	45.72%	3.92%
Total Return (3Y, Annualized)	-5.53%	22.52%
Total Return (5Y, Annualized)	-17.96%	-0.87%

Risk Profile

Drawdown History

BAX

VEEV

GSPC

Baxter (BAX) vs. Veeva Systems (VEEV), 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 Veeva Systems (VEEV). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Baxter (BAX) and Veeva Systems (VEEV)
Metric	BAX	VEEV
Volatility (1Y, Annualized)	42.31%	43.36%
Beta (5Y)	0.62	0.88
Max Drawdown (5Y)	-80.61%	-52.79%
Avg. Volume (3M)	6.53M	1.64M

Risk-Adjusted Performance

Risk-Return Positioning

BAX and VEEV 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 Veeva Systems (VEEV)
Metric	BAX	VEEV
Sharpe Ratio (1Y)	0.98	-0.01
Sortino Ratio (1Y)	1.42	-0.01

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 Veeva Systems (VEEV) reports 14.43%, 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%

VEEV

Health Care Equipment & Services industry group

14.43%

Max: 47.61%
VEEV: 14.43%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

Baxter (BAX) vs. Veeva Systems (VEEV): 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 Veeva Systems (VEEV) reports 29.35%, 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%

VEEV

Health Care Equipment & Services industry group

29.35%

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

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

Operating Margin (TTM)

Veeva Systems (VEEV) at 29.64% 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%

VEEV

Health Care Equipment & Services industry group

29.64%

Max: 35.43%
VEEV: 29.64%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

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

Profitability Metrics

Profitability metrics for Baxter (BAX) and Veeva Systems (VEEV)
Metric	BAX	VEEV
ROE (TTM)	-9.04%	14.43%
ROA (TTM)	2.71%	7.58%
Net Margin (TTM)	-6.23%	29.35%
Operating Margin (TTM)	9.88%	29.64%
Gross Margin (TTM)	33.37%	74.96%

Growth

Revenue Growth

Both Baxter (BAX) at 5.72% and Veeva Systems (VEEV) at 16.34% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Baxter (BAX) vs. Veeva Systems (VEEV): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Veeva Systems (VEEV) reports EPS growth of 25.93%, ranked against its industry; Baxter (BAX) has no EPS growth figure this period.

Baxter (BAX) vs. Veeva Systems (VEEV): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Baxter (BAX) and Veeva Systems (VEEV)
Metric	BAX	VEEV
Revenue Growth (YoY)	5.72%	16.34%
Revenue Growth (3Y CAGR)	3.79%	14.03%
EPS Growth (YoY)	--	25.93%
EPS Growth (3Y CAGR)	--	21.94%

Financial Strength

Current Ratio (MRQ)

Baxter (BAX) at 1.79 keeps current ratio within its industry’s typical mid-range, while Veeva Systems (VEEV) at 5.46 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets 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

VEEV

Health Care Equipment & Services industry group

5.46

Max: 7.59
VEEV: 5.46
Q3: 4.00
Median: 1.98
Q1: 1.37
Min: 0.30

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

Debt / Equity (MRQ)

Veeva Systems (VEEV) at 0.02 keeps leverage in the lower quartile, while Baxter (BAX) at 1.36 sits in the higher-leverage quartile.

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

VEEV

Health Care Equipment & Services industry group

0.02

Max: 1.88
Q3: 0.91
Median: 0.58
Q1: 0.16
VEEV: 0.02
Min: 0.00

Baxter (BAX) vs. Veeva Systems (VEEV): 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 Veeva Systems (VEEV)
Metric	BAX	VEEV
Current Ratio (MRQ)	1.79	5.46
Debt / Equity (MRQ)	1.36	0.02
Net Debt / EBITDA	3.73	-6.59

Dividends

Dividend Yield (TTM)

Veeva Systems (VEEV) 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%

VEEV

Health Care Equipment & Services industry group

0.00%

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

Baxter (BAX) vs. Veeva Systems (VEEV): 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; Veeva Systems (VEEV) 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%

VEEV

Health Care Equipment & Services industry group

0.00%

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

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

Dividend Metrics

Dividend metrics for Baxter (BAX) and Veeva Systems (VEEV)
Metric	BAX	VEEV
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: Veeva Systems (VEEV) trades at 49.79 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: --

VEEV

Health Care Equipment & Services industry group

49.79

Max: 80.41
VEEV: 49.79
Q3: 47.62
Median: 29.93
Q1: 21.19
Min: 4.21

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

P/S Ratio (TTM)

Baxter (BAX) at 1.15 prices around its industry’s typical P/S ratio, while Veeva Systems (VEEV) at 14.22 clears its benchmark range — VEEV looks notably rich on 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

VEEV

Health Care Equipment & Services industry group

14.22

VEEV: 14.22
Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
Min: 0.03

Baxter (BAX) vs. Veeva Systems (VEEV): 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 Veeva Systems (VEEV) at 6.61 carries an above-peer premium to book — VEEV 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

VEEV

Health Care Equipment & Services industry group

6.61

Max: 11.68
VEEV: 6.61
Q3: 6.12
Median: 3.00
Q1: 1.73
Min: -1.31

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

Valuation Metrics

Valuation metrics for Baxter (BAX) and Veeva Systems (VEEV)
Metric	BAX	VEEV
P/E Ratio (TTM)	--	49.79
P/S Ratio (TTM)	1.15	14.22
P/B Ratio (MRQ)	2.05	6.61
Free Cash Flow Yield (TTM)	9.16%	2.56%