BAX vs. DHR

Last updated Apr 1, 2026

Compare and contrast key facts about Baxter International Inc. (BAX) and Danaher Corporation (DHR).

Performance

BAX vs. DHR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baxter International Inc. (BAX) and Danaher Corporation (DHR). The values are adjusted to include any dividend payments, if applicable.

BAX vs. DHR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BAX Baxter International Inc.	-12.04%	-33.28%	-22.40%	-21.91%	-39.58%	8.48%	-2.95%	28.40%	2.89%	47.30%
DHR Danaher Corporation	-17.00%	0.35%	-0.35%	-1.22%	-19.02%	48.57%	45.34%	49.55%	11.80%	20.01%

Fundamentals

Market Cap BAX : $8.64B DHR : $134.81B
EPS BAX : -$1.68 DHR : $5.06
PS Ratio BAX : 0.77 DHR : 5.51
PB Ratio BAX : 1.41 DHR : 2.57
Total Revenue (TTM) BAX : $11.24B DHR : $24.57B
Gross Profit (TTM) BAX : $3.71B DHR : $14.97B
EBITDA (TTM) BAX : $1.67B DHR : $7.02B

Returns By Period

In the year-to-date period, BAX achieves a -12.04% return, which is significantly higher than DHR's -17.00% return. Over the past 10 years, BAX has underperformed DHR with an annualized return of -7.23%, while DHR has yielded a comparatively higher 12.00% annualized return.

BAX

• 1D: 6.33%
• 1M: -17.53%
• YTD: -12.04%
• 6M: -26.14%
• 1Y: -50.25%
• 3Y*: -23.72%
• 5Y*: -26.05%
• 10Y*: -7.23%

DHR

• 1D: 3.11%
• 1M: -9.80%
• YTD: -17.00%
• 6M: -4.03%
• 1Y: -6.87%
• 3Y*: -4.81%
• 5Y*: -0.55%
• 10Y*: 12.00%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

BAX vs. DHR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BAX

BAX Risk / Return Rank: 6
BAX Sharpe Ratio Rank: 4
BAX Sortino Ratio Rank: 6
BAX Omega Ratio Rank: 5
BAX Calmar Ratio Rank: 6
BAX Martin Ratio Rank: 10

DHR

DHR Risk / Return Rank: 30
DHR Sharpe Ratio Rank: 32
DHR Sortino Ratio Rank: 28
DHR Omega Ratio Rank: 29
DHR Calmar Ratio Rank: 33
DHR Martin Ratio Rank: 27

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BAX vs. DHR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baxter International Inc. (BAX) and Danaher Corporation (DHR). 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.

	BAX	DHR	Difference
Sharpe ratio Return per unit of total volatility	-1.05	-0.21	-0.83
Sortino ratio Return per unit of downside risk	-1.43	-0.09	-1.34
Omega ratio Gain probability vs. loss probability	0.79	0.99	-0.20
Calmar ratio Return relative to maximum drawdown	-0.93	-0.29	-0.64
Martin ratio Return relative to average drawdown	-1.50	-0.87	-0.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BAX vs. DHR - Sharpe Ratio Comparison

The current BAX Sharpe Ratio is -1.05, which is lower than the DHR Sharpe Ratio of -0.21. The chart below compares the historical Sharpe Ratios of BAX and DHR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BAX	DHR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.05	-0.21	-0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.79	-0.02	-0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.25	0.48	-0.73
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.65	-0.43

Correlation

The correlation between BAX and DHR is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BAX vs. DHR - Dividend Comparison

BAX's dividend yield for the trailing twelve months is around 2.14%, more than DHR's 0.72% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAX Baxter International Inc.	2.14%	2.72%	3.57%	3.00%	2.26%	1.26%	1.19%	1.02%	1.11%	0.94%	1.14%	87.05%
DHR Danaher Corporation	0.72%	0.56%	0.47%	12.64%	0.38%	0.26%	0.32%	0.44%	0.62%	0.60%	32.55%	0.58%

Drawdowns

BAX vs. DHR - Drawdown Comparison

The maximum BAX drawdown since its inception was -81.15%, which is greater than DHR's maximum drawdown of -45.80%. Use the drawdown chart below to compare losses from any high point for BAX and DHR.

Drawdown Indicators

	BAX	DHR	Difference
Max Drawdown Largest peak-to-trough decline	-81.15%	-45.80%	-35.35%
Max Drawdown (1Y) Largest decline over 1 year	-52.92%	-24.85%	-28.07%
Max Drawdown (5Y) Largest decline over 5 years	-80.61%	-39.81%	-40.80%
Max Drawdown (10Y) Largest decline over 10 years	-81.15%	-39.81%	-41.34%
Current Drawdown Current decline from peak	-79.96%	-34.20%	-45.76%
Average Drawdown Average peak-to-trough decline	-21.40%	-10.08%	-11.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.06%	8.34%	+24.72%

Volatility

BAX vs. DHR - Volatility Comparison

Baxter International Inc. (BAX) has a higher volatility of 13.66% compared to Danaher Corporation (DHR) at 8.93%. This indicates that BAX's price experiences larger fluctuations and is considered to be riskier than DHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAX	DHR	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.66%	8.93%	+4.73%
Volatility (6M) Calculated over the trailing 6-month period	34.50%	20.17%	+14.33%
Volatility (1Y) Calculated over the trailing 1-year period	48.14%	32.45%	+15.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.11%	27.75%	+5.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.95%	25.24%	+3.71%

Financials

BAX vs. DHR - Profitability Comparison

The chart below illustrates the profitability comparison between Baxter International Inc. and Danaher Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BAX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Baxter International Inc. reported a gross profit of 870.00M and revenue of 2.97B. Therefore, the gross margin over that period was 29.3%.

DHR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Danaher Corporation reported a gross profit of 3.97B and revenue of 6.84B. Therefore, the gross margin over that period was 58.0%.

BAX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Baxter International Inc. reported an operating income of 117.00M and revenue of 2.97B, resulting in an operating margin of 3.9%.

DHR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Danaher Corporation reported an operating income of 1.50B and revenue of 6.84B, resulting in an operating margin of 22.0%.

BAX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Baxter International Inc. reported a net income of -1.11B and revenue of 2.97B, resulting in a net margin of -37.3%.

DHR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Danaher Corporation reported a net income of 1.20B and revenue of 6.84B, resulting in a net margin of 17.5%.