BAX vs. BMY
BAX (Baxter International Inc.) and BMY (Bristol-Myers Squibb Company) are both stocks. Both are in the Healthcare sector — BAX in Medical Instruments & Supplies, BMY in Drug Manufacturers - General. Over the past 10 years, BAX returned -5.56%/yr vs 1.05%/yr for BMY. At a 0.36 correlation, their price movements are largely independent.
Performance
BAX vs. BMY - Performance Comparison
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Returns By Period
In the year-to-date period, BAX achieves a 18.23% return, which is significantly higher than BMY's 13.73% return. Over the past 10 years, BAX has underperformed BMY with an annualized return of -5.56%, while BMY has yielded a comparatively higher 1.05% annualized return.
BAX
- 1D
- -0.22%
- 1M
- 8.20%
- 6M
- 12.12%
- YTD
- 18.23%
- 1Y
- -20.69%
- 3Y*
- -19.97%
- 5Y*
- -20.97%
- 10Y*
- -5.56%
BMY
- 1D
- 3.06%
- 1M
- 5.04%
- 6M
- 8.71%
- YTD
- 13.73%
- 1Y
- 32.71%
- 3Y*
- 3.33%
- 5Y*
- 1.42%
- 10Y*
- 1.05%
BAX vs. BMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BAX Baxter International Inc. | 18.23% | -33.28% | -22.40% | -21.91% | -39.58% | 8.48% | -2.95% | 28.40% | 2.89% | 47.30% |
BMY Bristol-Myers Squibb Company | 13.73% | 0.11% | 15.81% | -26.14% | 18.98% | 2.88% | 0.41% | 27.74% | -12.90% | 7.71% |
Correlation
The correlation between BAX and BMY is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1981 | 0.36 |
Fundamentals
BAX:
$11.66B
BMY:
$121.18B
BAX:
-$1.74
BMY:
$3.56
BAX:
1.03
BMY:
2.50
BAX:
1.92
BMY:
6.04
BAX:
$11.32B
BMY:
$48.48B
BAX:
$3.41B
BMY:
$33.33B
BAX:
$399.00M
BMY:
$13.34B
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Return for Risk
BAX vs. BMY — Risk / Return Rank
BAX
BMY
BAX vs. BMY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baxter International Inc. (BAX) and Bristol-Myers Squibb Company (BMY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BAX | BMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -2.17 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.22 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | 2.62 | -3.08 |
| Martin ratioReturn relative to average drawdown | -0.68 | 5.74 | -6.42 |
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Drawdowns
BAX vs. BMY - Drawdown Comparison
The maximum BAX drawdown since its inception was -81.15%, which is greater than BMY's maximum drawdown of -72.03%. Use the drawdown chart below to compare losses from any high point for BAX and BMY.
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Drawdown Indicators
| BAX | BMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.15% | -72.03% | -9.12% |
Max Drawdown (1Y)Largest decline over 1 year | -45.49% | -12.53% | -32.96% |
Max Drawdown (3Y)Largest decline over 3 years | -65.90% | -36.02% | -29.88% |
Max Drawdown (5Y)Largest decline over 5 years | -80.61% | -47.67% | -32.94% |
Max Drawdown (10Y)Largest decline over 10 years | -81.15% | -47.67% | -33.48% |
Current DrawdownCurrent decline from peak | -73.06% | -13.64% | -59.42% |
Average DrawdownAverage peak-to-trough decline | -21.75% | -22.37% | +0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.54% | 5.71% | +24.83% |
Volatility
BAX vs. BMY - Volatility Comparison
Baxter International Inc. (BAX) has a higher volatility of 11.65% compared to Bristol-Myers Squibb Company (BMY) at 9.18%. This indicates that BAX's price experiences larger fluctuations and is considered to be riskier than BMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAX | BMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.65% | 9.18% | +2.47% |
Volatility (6M)Calculated over the trailing 6-month period | 33.50% | 18.90% | +14.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.11% | 27.70% | +19.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.14% | 24.33% | +9.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.43% | 25.40% | +4.03% |
Dividends
BAX vs. BMY - Dividend Comparison
BAX's dividend yield for the trailing twelve months is around 0.89%, less than BMY's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAX Baxter International Inc. | 0.89% | 2.72% | 3.57% | 3.00% | 2.26% | 1.26% | 1.19% | 1.02% | 1.11% | 0.94% | 1.14% | 87.05% |
BMY Bristol-Myers Squibb Company | 4.23% | 4.60% | 4.24% | 4.44% | 3.00% | 2.36% | 3.69% | 2.55% | 3.08% | 2.55% | 1.95% | 2.17% |
Financials
BAX vs. BMY - Financials Comparison
This section allows you to compare key financial metrics between Baxter International Inc. and Bristol-Myers Squibb Company. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
BAX vs. BMY - Profitability Comparison
BAX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Baxter International Inc. reported a gross profit of 891.00M and revenue of 2.70B. Therefore, the gross margin over that period was 33.0%.
BMY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Bristol-Myers Squibb Company reported a gross profit of 8.07B and revenue of 11.49B. Therefore, the gross margin over that period was 70.2%.
BAX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Baxter International Inc. reported an operating income of -42.00M and revenue of 2.70B, resulting in an operating margin of -1.6%.
BMY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Bristol-Myers Squibb Company reported an operating income of 3.27B and revenue of 11.49B, resulting in an operating margin of 28.5%.
BAX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Baxter International Inc. reported a net income of 190.00M and revenue of 2.70B, resulting in a net margin of 7.0%.
BMY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Bristol-Myers Squibb Company reported a net income of 2.68B and revenue of 11.49B, resulting in a net margin of 23.3%.
Frequently Asked Questions
BAX and BMY have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BAX has higher volatility (11.65%) compared to BMY (9.18%). In terms of maximum drawdown, BAX dropped -81.15% vs BMY's -72.03%.
BMY currently has the higher Sharpe Ratio (1.19 vs -0.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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