BAX vs MDT
Baxter International (BAX) and Medtronic (MDT) compared side by side. Medtronic (MDT) is larger, with a market cap of $122.0B versus $13.1B for Baxter International, about 9.3 times the size. BAX returned +10.3% over the past year including dividends, versus +4.6% for MDT, through October 23, 2026..
Head to head
| Metric | BAX | MDT |
|---|---|---|
| Market cap | $13.1B | $122.0B |
| P/E (TTM) | — | 23.4x |
| Forward P/E | 12.4x | 14.9x |
| Revenue (TTM) | $11.5B | $37.5B |
| Revenue growth | 5.3% | 13.7% |
| Gross margin | 34.1% | 65.3% |
| Operating margin | 14.4% | 19.3% |
| Free cash flow | $812.0M | $6.1B |
| Dividend yield | 0.16% | 3.02% |
| 1-year return | +10.3% | +4.6% |
| 5-year return (annual) | -19.4% | -1.9% |
| Max drawdown | -81% | -73% |
| FI Handbook grade | D+ | B- |
Highlighted: the stronger figure on metrics where higher or lower is clearly better.
Growth of $10,000 (5 years, price only)
$5.0K
$10.0K
20222023202420252026
BAX vs MDT FAQ
Which is bigger, BAX or MDT?
Medtronic (MDT) is larger, with a market cap of $122.0B versus $13.1B for Baxter International, about 9.3 times the size.
Which stock performed better over the past year, BAX or MDT?
BAX returned +10.3% over the past year including dividends, versus +4.6% for MDT, through October 23, 2026.
Which pays a higher dividend, BAX or MDT?
MDT yields 3.02% versus 0.16% for BAX.
Full pages: Baxter International · Medtronic