SOLV
Solventum Corporation
Medical - Care Facilities
Market Cap$12.32B
5Y Perf.+2.1%
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Stock Comparison
SOLV vs BAX
Revenue, margins, valuation, and 5-year total return — side by side.
BAX
Baxter International Inc.
Medical - Instruments & Supplies
Market Cap$8.77B
5Y Perf.-60.3%
SOLV vs BAX — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | SOLV | BAX |
|---|---|---|
| Industry | Medical - Care Facilities | Medical - Instruments & Supplies |
| Market Cap | $12.32B | $8.77B |
| Revenue (TTM) | $8.26B | $11.32B |
| Net Income (TTM) | $1.43B | $-1.10B |
| Gross Margin | 53.7% | 30.1% |
| Operating Margin | 25.5% | -2.7% |
| Forward P/E | 11.0x | 8.9x |
| Total Debt | $5.04B | $10.00B |
| Cash & Equiv. | $878M | $1.97B |
SOLV vs BAX — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
SOLV
BAX
| Stock | Mar 24 | May 26 | Return |
|---|---|---|---|
| Solventum Corporati… (SOLV) | 100 | 102.1 | +2.1% |
| Baxter Internationa… (BAX) | 100 | 39.7 | -60.3% |
Price return only. Dividends and distributions are not included.
Quick Verdict: SOLV vs BAX
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: SOLV leads in 4 of 7 categories, making it the strongest pick for profitability and margin quality and capital preservation and lower volatility. Baxter International Inc. is the stronger pick specifically for growth and revenue expansion and valuation and capital efficiency. As sector peers, any of these can serve as alternatives in the same allocation.
SOLV
Solventum Corporation
The Income Pick
SOLV carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- beta 1.05
- -11.2% 10Y total return vs BAX's -43.5%
- Lower volatility, beta 1.05, Low D/E 99.7%, current ratio 1.23x
Best for: income & stability and long-term compounding
BAX
Baxter International Inc.
The Growth Play
BAX is the clearest fit if your priority is growth exposure.
- Rev growth 5.7%, EPS growth -37.8%, 3Y rev CAGR 3.8%
- 5.7% revenue growth vs SOLV's 0.9%
- Lower P/E (8.9x vs 11.0x)
Best for: growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | BAX | 5.7% revenue growth vs SOLV's 0.9% |
| Value | BAX | Lower P/E (8.9x vs 11.0x) |
| Quality / Margins | SOLV | 17.3% margin vs BAX's -9.7% |
| Stability / Safety | SOLV | Beta 1.05 vs BAX's 1.37, lower leverage |
| Dividends | BAX | 4.0% yield; the other pay no meaningful dividend |
| Momentum (1Y) | SOLV | +8.5% vs BAX's -42.1% |
| Efficiency (ROA) | SOLV | 10.0% ROA vs BAX's -5.4%, ROIC 16.9% vs -1.4% |
SOLV vs BAX — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
SOLV vs BAX — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLSOLVLAGGINGBAX
BAXBaxter International …
1leads
SOLVSolventum Corporation
4leads
6 Total Categories
CATEGORYLEADERvs BAXMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
SOLV4/6
Valuation MetricsMultiples, price ratios, and targets
BAX4/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
SOLV9/9
Total Returns1Y, 3Y, 5Y total returns with dividends
SOLV6/6
Risk & VolatilityBeta, volatility, and downside exposure
SOLV2/2
Analyst OutlookRatings, price targets, and dividends
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Income & Cash Flow (Last 12 Months)
SOLV leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
BAX and SOLV operate at a comparable scale, with $11.3B and $8.3B in trailing revenue. SOLV is the more profitable business, keeping 17.3% of every revenue dollar as net income compared to BAX's -9.7%. On growth, BAX holds the edge at +2.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | SOLVSolventum Corpora… | BAXBaxter Internatio… |
|---|---|---|
| RevenueTrailing 12 months | $8.3B | $11.3B |
| EBITDAEarnings before interest/tax | $2.9B | $671M |
| Net IncomeAfter-tax profit | $1.4B | -$1.1B |
| Free Cash FlowCash after capex | -$203M | $501M |
| Gross MarginGross profit ÷ Revenue | +53.7% | +30.1% |
| Operating MarginEBIT ÷ Revenue | +25.5% | -2.7% |
| Net MarginNet income ÷ Revenue | +17.3% | -9.7% |
| FCF MarginFCF ÷ Revenue | -2.5% | +4.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | -3.0% | +2.9% |
| EPS Growth (YoY)Latest quarter vs prior year | -91.0% | -112.0% |
SOLV leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
BAX leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, SOLV's 6.2x EV/EBITDA is more attractive than BAX's 25.0x.
| Metric | SOLVSolventum Corpora… | BAXBaxter Internatio… |
|---|---|---|
| Market CapShares × price | $12.3B | $8.8B |
| Enterprise ValueMkt cap + debt − cash | $16.5B | $16.8B |
| Trailing P/EPrice ÷ TTM EPS | 8.00x | -9.70x |
| Forward P/EPrice ÷ next-FY EPS est. | 10.97x | 8.90x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 6.17x | 24.97x |
| Price / SalesMarket cap ÷ Revenue | 1.48x | 0.78x |
| Price / BookPrice ÷ Book value/share | 2.47x | 1.43x |
| Price / FCFMarket cap ÷ FCF | — | 27.14x |
BAX leads this category, winning 4 of 5 comparable metrics.
Profitability & Efficiency
SOLV leads this category, winning 9 of 9 comparable metrics.
Profitability & Efficiency
SOLV delivers a 30.7% return on equity — every $100 of shareholder capital generates $31 in annual profit, vs $-16 for BAX. SOLV carries lower financial leverage with a 1.00x debt-to-equity ratio, signaling a more conservative balance sheet compared to BAX's 1.64x. On the Piotroski fundamental quality scale (0–9), SOLV scores 6/9 vs BAX's 5/9, reflecting solid financial health.
| Metric | SOLVSolventum Corpora… | BAXBaxter Internatio… |
|---|---|---|
| ROE (TTM)Return on equity | +30.7% | -16.5% |
| ROA (TTM)Return on assets | +10.0% | -5.4% |
| ROICReturn on invested capital | +16.9% | -1.4% |
| ROCEReturn on capital employed | +19.0% | -1.7% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 5 |
| Debt / EquityFinancial leverage | 1.00x | 1.64x |
| Net DebtTotal debt minus cash | $4.2B | $8.0B |
| Cash & Equiv.Liquid assets | $878M | $2.0B |
| Total DebtShort + long-term debt | $5.0B | $10.0B |
| Interest CoverageEBIT ÷ Interest expense | 6.55x | -0.83x |
SOLV leads this category, winning 9 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
SOLV leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in SOLV five years ago would be worth $8,875 today (with dividends reinvested), compared to $2,479 for BAX. Over the past 12 months, SOLV leads with a +8.5% total return vs BAX's -42.1%. The 3-year compound annual growth rate (CAGR) favors SOLV at -3.9% vs BAX's -24.8% — a key indicator of consistent wealth creation.
| Metric | SOLVSolventum Corpora… | BAXBaxter Internatio… |
|---|---|---|
| YTD ReturnYear-to-date | -10.1% | -12.9% |
| 1-Year ReturnPast 12 months | +8.5% | -42.1% |
| 3-Year ReturnCumulative with dividends | -11.2% | -57.4% |
| 5-Year ReturnCumulative with dividends | -11.2% | -75.2% |
| 10-Year ReturnCumulative with dividends | -11.2% | -43.5% |
| CAGR (3Y)Annualised 3-year return | -3.9% | -24.8% |
SOLV leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
SOLV leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
SOLV is the less volatile stock with a 1.05 beta — it tends to amplify market swings less than BAX's 1.37 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. SOLV currently trades 80.5% from its 52-week high vs BAX's 52.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | SOLVSolventum Corpora… | BAXBaxter Internatio… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.05x | 1.37x |
| 52-Week HighHighest price in past year | $88.20 | $32.68 |
| 52-Week LowLowest price in past year | $62.38 | $15.73 |
| % of 52W HighCurrent price vs 52-week peak | +80.5% | +52.0% |
| RSI (14)Momentum oscillator 0–100 | 54.6 | 41.4 |
| Avg Volume (50D)Average daily shares traded | 1.3M | 8.7M |
SOLV leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates SOLV as "Buy" and BAX as "Hold". Consensus price targets imply 37.7% upside for SOLV (target: $98) vs 16.3% for BAX (target: $20). BAX is the only dividend payer here at 4.00% yield — a key consideration for income-focused portfolios.
| Metric | SOLVSolventum Corpora… | BAXBaxter Internatio… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $97.80 | $19.75 |
| # AnalystsCovering analysts | 11 | 36 |
| Dividend YieldAnnual dividend ÷ price | — | +4.0% |
| Dividend StreakConsecutive years of raises | — | 0 |
| Dividend / ShareAnnual DPS | — | $0.68 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Insufficient data to determine a leader in this category.
Key Takeaway
SOLV leads in 4 of 6 categories (Income & Cash Flow, Profitability & Efficiency). BAX leads in 1 (Valuation Metrics).
Best OverallSolventum Corporation (SOLV)Leads 4 of 6 categories
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SOLV vs BAX: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is SOLV or BAX a better buy right now?
For growth investors, Baxter International Inc.
(BAX) is the stronger pick with 5. 7% revenue growth year-over-year, versus 0. 9% for Solventum Corporation (SOLV). Solventum Corporation (SOLV) offers the better valuation at 8. 0x trailing P/E (11. 0x forward), making it the more compelling value choice. Analysts rate Solventum Corporation (SOLV) a "Buy" — based on 11 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — SOLV or BAX?
On forward P/E, Baxter International Inc.
is actually cheaper at 8. 9x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — SOLV or BAX?
Over the past 5 years, Solventum Corporation (SOLV) delivered a total return of -11.
2%, compared to -75. 2% for Baxter International Inc. (BAX). Over 10 years, the gap is even starker: SOLV returned -11. 2% versus BAX's -43. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — SOLV or BAX?
By beta (market sensitivity over 5 years), Solventum Corporation (SOLV) is the lower-risk stock at 1.
05β versus Baxter International Inc. 's 1. 37β — meaning BAX is approximately 31% more volatile than SOLV relative to the S&P 500. On balance sheet safety, Solventum Corporation (SOLV) carries a lower debt/equity ratio of 100% versus 164% for Baxter International Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — SOLV or BAX?
By revenue growth (latest reported year), Baxter International Inc.
(BAX) is pulling ahead at 5. 7% versus 0. 9% for Solventum Corporation (SOLV). On earnings-per-share growth, the picture is similar: Solventum Corporation grew EPS 221. 7% year-over-year, compared to -37. 8% for Baxter International Inc.. Over a 3-year CAGR, BAX leads at 3. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — SOLV or BAX?
Solventum Corporation (SOLV) is the more profitable company, earning 18.
7% net margin versus -8. 5% for Baxter International Inc. — meaning it keeps 18. 7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: SOLV leads at 26. 2% versus -2. 7% for BAX. At the gross margin level — before operating expenses — SOLV leads at 53. 5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is SOLV or BAX more undervalued right now?
On forward earnings alone, Baxter International Inc.
(BAX) trades at 8. 9x forward P/E versus 11. 0x for Solventum Corporation — 2. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for SOLV: 37. 7% to $97. 80.
08Which pays a better dividend — SOLV or BAX?
In this comparison, BAX (4.
0% yield) pays a dividend. SOLV does not pay a meaningful dividend and should not be held primarily for income.
09Is SOLV or BAX better for a retirement portfolio?
For long-horizon retirement investors, Baxter International Inc.
(BAX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (4. 0% yield). Both have compounded well over 10 years (BAX: -43. 5%, SOLV: -11. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between SOLV and BAX?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: SOLV is a mid-cap deep-value stock; BAX is a small-cap income-oriented stock. BAX pays a dividend while SOLV does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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