DexCom (DXCM) Financials

$75.08 -1.30 (-1.70%)

Closing price 04:00 PM Eastern

Extended Trading

$74.98 -0.10 (-0.13%)

As of 05:20 PM Eastern

Annual Income Statements for DexCom

This table shows DexCom's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-22	-58	-66	-50	-127	101	550	217	341	542	576
Consolidated Net Income / (Loss)	-22	-58	-66	-50	-127	101	550	217	341	542	576
Net Income / (Loss) Continuing Operations	-22	-58	-66	-50	-127	101	550	217	341	542	576
Total Pre-Tax Income	-22	-58	-65	-49	-127	104	298	257	391	710	709
Total Operating Income	-22	-57	-64	-43	-186	142	300	266	391	598	600
Total Gross Profit	176	278	378	492	664	932	1,280	1,681	1,883	2,289	2,438
Total Revenue	259	402	573	719	1,032	1,476	1,927	2,449	2,910	3,622	4,033
Operating Revenue	259	402	573	719	1,032	1,476	1,927	2,449	2,910	3,622	4,033
Total Cost of Revenue	83	124	195	226	368	545	647	768	1,027	1,333	1,595
Operating Cost of Revenue	83	124	195	226	368	545	647	768	1,027	1,333	1,595
Total Operating Expenses	198	336	442	535	850	789	981	1,415	1,492	1,691	1,838
Selling, General & Admin Expense	128	198	286	349	433	516	618	811	1,008	1,185	1,286
Research & Development Expense	69	138	156	185	417	274	360	604	484	506	552
Total Other Income / (Expense), net	-0.80	-0.40	-1.00	-6.10	60	-38	-1.60	-9.00	-0.40	113	109
Other Income / (Expense), net	0.00	-	-	6.70	2.40	26	16	-9.00	-0.40	113	109
Income Tax Expense	0.10	0.10	0.70	1.60	0.60	3.10	-252	40	50	169	133
Basic Earnings per Share	($0.30)	($0.72)	($0.78)	($0.58)	($1.44)	$1.11	$1.46	$0.56	$0.88	$1.40	$1.46
Weighted Average Basic Shares Outstanding	75.20M	79.80M	83.60M	86.30M	88.20M	91.10M	377.50M	386.90M	389.40M	386M	393.60M
Diluted Earnings per Share	($0.30)	($0.72)	($0.78)	($0.58)	($1.44)	$1.10	$1.33	$0.53	$0.82	$1.30	$1.42
Weighted Average Diluted Shares Outstanding	75.20M	79.80M	83.60M	86.30M	88.20M	92.30M	420.40M	428.80M	427.50M	425.50M	412.70M
Weighted Average Basic & Diluted Shares Outstanding	75.20M	79.80M	83.60M	86.30M	88.20M	91.59M	96.18M	97.07M	386.41M	385.52M	390.77M

This table shows DexCom's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	92	49	116	121	256	146	144	135	152	105	180
Consolidated Net Income / (Loss)	92	49	116	121	256	146	144	135	152	105	180
Net Income / (Loss) Continuing Operations	92	49	116	121	256	146	144	135	152	105	180
Total Pre-Tax Income	133	65	159	240	246	133	188	177	211	154	241
Total Operating Income	125	47	128	206	217	101	158	152	189	134	213
Total Gross Profit	541	463	546	623	657	562	627	594	656	589	689
Total Revenue	815	742	871	975	1,035	921	1,004	994	1,114	1,036	1,157
Operating Revenue	815	742	871	975	1,035	921	1,004	994	1,114	1,036	1,157
Total Cost of Revenue	274	279	325	352	378	359	378	400	458	447	468
Operating Cost of Revenue	274	279	325	352	378	359	378	400	458	447	468
Total Operating Expenses	416	415	418	418	440	461	469	442	467	455	476
Selling, General & Admin Expense	305	296	299	286	304	319	333	306	327	310	328
Research & Development Expense	116	119	119	131	136	142	136	135	140	145	148
Total Other Income / (Expense), net	7.80	17	31	35	29	31	30	25	22	21	29
Other Income / (Expense), net	-1.30	17	31	35	29	31	30	25	22	21	29
Income Tax Expense	41	16	43	120	-10	-14	44	43	60	49	61
Basic Earnings per Share	$0.24	$0.13	$0.30	$0.31	$0.66	$0.38	$0.36	$0.34	$0.38	$0.27	$0.46
Weighted Average Basic Shares Outstanding	389.40M	386.70M	386.70M	386.60M	386M	390.20M	399.20M	394.20M	393.60M	391.10M	392.10M
Diluted Earnings per Share	$0.24	$0.12	$0.28	$0.29	$0.66	$0.36	$0.35	$0.34	$0.37	$0.27	$0.45
Weighted Average Diluted Shares Outstanding	427.50M	418.50M	431.50M	426.80M	425.50M	416.70M	416.80M	410.20M	412.70M	407.50M	408.20M
Weighted Average Basic & Diluted Shares Outstanding	386.41M	387.64M	387.87M	386.37M	385.52M	397.68M	400.73M	390.60M	390.77M	392.11M	392.16M

This table details how cash moves in and out of DexCom's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	29	14	8.40	347	694	-691	372	235	-410	-76	40
Net Cash From Operating Activities	24	49	56	92	123	315	476	443	670	749	990
Net Cash From Continuing Operating Activities	24	49	56	92	123	310	476	443	670	749	990
Net Income / (Loss) Continuing Operations	-22	-58	-66	-50	-127	101	550	217	341	542	576
Consolidated Net Income / (Loss)	-22	-58	-66	-50	-127	101	550	217	341	542	576
Depreciation Expense	8.40	11	15	16	29	49	67	102	156	186	218
Non-Cash Adjustments To Reconcile Net Income	50	121	113	114	264	154	140	240	167	73	131
Changes in Operating Assets and Liabilities, net	-13	-25	-6.30	2.60	-43	6.30	-281	-116	5.10	-52	65
Net Cash From Investing Activities	-17	-52	-56	-144	-140	-1,015	-1,018	-216	-522	-507	-208
Net Cash From Continuing Investing Activities	-17	-52	-56	-144	-140	-1,015	-1,018	-216	-522	-507	-208
Purchase of Property, Plant & Equipment	-16	-33	-56	-66	-67	-180	-199	-389	-365	-237	-359
Acquisitions	0.00	-0.50	0.30	0.00	-11	0.00	0.00	-30	-3.90	0.00	0.00
Purchase of Investments	-14	-45	-39	-172	-453	-2,030	-3,058	-2,473	-2,281	-3,220	-2,658
Sale and/or Maturity of Investments	13	28	39	93	392	1,196	2,251	2,666	2,128	2,947	2,824
Other Investing Activities, net	-	-	-	-	-1.00	-1.20	-11	10	0.20	1.90	-16
Net Cash From Financing Activities	22	17	8.10	399	710	11	912	10	-553	-319	-735
Net Cash From Continuing Financing Activities	22	17	8.10	399	710	11	912	10	-553	-319	-735
Repayment of Debt	-2.20	-2.30	-2.30	-75	-1.90	-1.20	-9.40	-9.90	-17	-786	-13
Repurchase of Common Equity	-	-	0.00	0.00	-100	-	0.00	0.00	-558	-689	-750
Issuance of Debt	-	0.00	0.00	464	837	0.00	1,189	0.00	0.00	1,231	0.00
Issuance of Common Equity	24	19	10	10	195	12	15	20	23	27	28
Other Financing Activities, net	-	-	0.00	0.00	-219	-	-	0.00	0.00	-101	0.00
Effect of Exchange Rate Changes	-	0.00	0.00	-	-	-0.70	2.10	-1.40	-5.80	1.50	-7.40
Cash Interest Paid	0.40	0.30	0.10	2.40	3.60	10	11	12	12	12	11
Cash Income Taxes Paid	0.00	0.10	0.10	1.40	2.30	4.80	3.60	17	114	212	198

This table details how cash moves in and out of DexCom's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-56	-19	572	-551	-77	285	88	-318	-15	299	254
Net Cash From Operating Activities	133	155	190	269	134	209	279	200	301	184	303
Net Cash From Continuing Operating Activities	132	155	190	269	134	209	279	200	301	184	303
Net Income / (Loss) Continuing Operations	92	49	116	121	256	146	144	135	152	105	180
Consolidated Net Income / (Loss)	92	49	116	121	256	146	144	135	152	105	180
Depreciation Expense	36	42	44	48	53	53	52	55	58	60	63
Non-Cash Adjustments To Reconcile Net Income	38	14	35	22	1.40	33	31	5.40	61	24	47
Changes in Operating Assets and Liabilities, net	-34	52	-4.70	78	-177	-23	53	4.20	31	-5.40	14
Net Cash From Investing Activities	-194	-187	-556	-180	415	75	-189	210	-304	100	-64
Net Cash From Continuing Investing Activities	-194	-187	-556	-180	415	75	-189	210	-304	100	-64
Purchase of Property, Plant & Equipment	-64	-75	-59	-50	-53	-57	-66	-111	-125	-87	-94
Purchase of Investments	-883	-810	-1,340	-798	-272	-992	-784	-307	-574	-463	-608
Sale and/or Maturity of Investments	740	698	859	671	719	1,122	667	631	405	650	639
Net Cash From Financing Activities	-1.00	11	940	-637	-632	4.70	-1.40	-737	-1.60	13	-1.70
Net Cash From Continuing Financing Activities	-1.00	11	940	-637	-632	4.70	-1.40	-737	-1.60	13	-1.70
Repayment of Debt	-1.00	-1.10	-1.10	-652	-132	-8.70	-1.40	-1.30	-1.60	-1.70	-1.70
Effect of Exchange Rate Changes	6.80	1.10	-2.20	-3.50	6.10	-3.80	-1.00	8.60	-11	2.30	17

This table presents DexCom's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	185	292	403	904	1,916	2,395	4,291	4,933	5,392	6,265	6,485
Total Current Assets	146	231	280	745	1,700	1,969	3,425	3,684	3,669	4,426	4,301
Cash & Equivalents	72	86	95	442	1,137	446	818	1,053	642	566	606
Short-Term Investments	12	29	29	107	249	1,087	1,890	1,679	1,814	2,158	1,973
Accounts Receivable	42	74	102	134	227	286	429	514	713	974	1,006
Inventories, net	16	35	45	45	71	120	235	357	307	560	543
Prepaid Expenses	3.90	6.80	9.20	17	17	30	54	82	193	168	174
Plant, Property, & Equipment, net	31	55	109	146	183	321	515	802	1,056	1,113	0.00
Total Noncurrent Assets	7.50	6.00	13	14	33	104	350	447	667	726	2,183
Goodwill	3.20	3.70	11	12	19	19	19	27	26	25	23
Intangible Assets	2.70	2.20	-	-	-	-	-	32	173	135	103
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	0.00	216	291	341	419	481
Other Noncurrent Operating Assets	0.60	0.10	2.10	1.70	15	86	115	99	127	146	1,576
Total Liabilities & Shareholders' Equity	185	292	403	904	1,916	2,395	4,291	4,933	5,392	6,265	6,485
Total Liabilities	44	71	119	485	1,253	1,512	2,464	2,891	3,260	4,196	4,382
Total Current Liabilities	41	67	102	139	222	360	614	721	1,839	1,556	2,932
Short-Term Debt	2.30	2.30	-	-	-	-	-	0.00	773	0.00	1,204
Accounts Payable	20	39	68	87	147	256	481	573	902	1,346	1,585
Current Deferred Revenue	0.70	0.80	0.90	3.20	2.90	1.70	2.20	2.10	10	18	8.00
Current Employee Benefit Liabilities	17	25	33	49	72	89	114	125	134	171	112
Other Current Liabilities	-	-	-	-	0.00	14	17	21	21	21	23
Total Noncurrent Liabilities	3.80	3.90	17	346	1,030	1,152	1,850	2,170	1,421	2,640	1,450
Long-Term Debt	2.30	-	0.00	328	1,010	1,060	1,667	1,982	1,198	2,434	1,237
Other Noncurrent Operating Liabilities	1.50	3.90	17	18	20	93	183	189	223	206	213
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	140	221	284	419	663	883	1,827	2,042	2,132	2,069	2,103
Total Preferred & Common Equity	140	221	284	419	663	883	1,827	2,042	2,132	2,069	2,103
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	140	221	284	419	663	883	1,827	2,042	2,132	2,069	2,103
Common Stock	638	777	906	1,094	1,561	1,676	2,125	2,109	2,259	3,515	2,094
Retained Earnings	-498	-555	-621	-672	-799	-696	-202	139	480	1,021	1,598
Treasury Stock	-	-	-	0.00	-100	-100	-100	-206	-595	-2,451	-1,581
Accumulated Other Comprehensive Income / (Loss)	-0.10	-0.30	-1.00	-2.60	1.50	2.30	3.20	0.50	-12	-17	-8.00

This table presents DexCom's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	5,392	5,516	6,821	6,596	6,265	6,482	6,799	6,354	6,485	6,752	7,327
Total Current Assets	3,669	3,767	5,003	4,698	4,426	4,621	4,848	4,263	4,301	4,554	5,030
Cash & Equivalents	642	623	1,195	644	566	851	939	621	606	905	1,159
Short-Term Investments	1,814	1,944	2,441	2,597	2,158	2,046	2,182	1,871	1,973	1,797	1,770
Accounts Receivable	713	637	751	786	974	979	945	1,002	1,006	1,155	1,349
Inventories, net	307	366	421	499	560	589	570	586	543	538	571
Prepaid Expenses	193	198	195	174	168	156	212	182	174	159	181
Plant, Property, & Equipment, net	1,056	1,076	1,078	1,079	1,113	1,109	1,183	1,319	1,340	1,365	0.00
Total Noncurrent Assets	667	673	740	819	726	753	768	772	843	833	2,297
Goodwill	26	26	26	25	25	23	23	24	23	23	24
Intangible Assets	173	164	154	145	135	123	115	106	103	95	87
Noncurrent Deferred & Refundable Income Taxes	341	349	417	501	419	461	476	487	481	487	496
Other Noncurrent Operating Assets	127	135	143	148	146	146	154	156	236	228	1,689
Total Liabilities & Shareholders' Equity	5,392	5,516	6,821	6,596	6,265	6,482	6,799	6,354	6,485	6,752	7,327
Total Liabilities	3,260	3,283	4,720	4,328	4,196	4,235	4,365	4,375	4,382	4,485	4,754
Total Current Liabilities	1,839	1,865	2,070	1,679	1,556	1,594	1,722	1,735	2,932	3,037	3,309
Short-Term Debt	773	773	774	124	0.00	-	-	-	1,204	1,205	1,206
Accounts Payable	902	965	1,157	1,373	1,346	1,447	1,570	1,593	1,585	1,691	1,944
Current Deferred Revenue	10	9.60	9.00	9.00	18	16	15	14	8.00	7.80	6.10
Current Employee Benefit Liabilities	134	95	109	151	171	111	116	106	112	111	129
Other Current Liabilities	21	22	22	21	21	21	22	22	23	23	23
Total Noncurrent Liabilities	1,421	1,418	2,651	2,650	2,640	2,641	2,643	2,640	1,450	1,448	1,445
Long-Term Debt	1,198	1,199	2,431	2,432	2,434	2,436	2,438	2,440	1,237	1,238	1,239
Other Noncurrent Operating Liabilities	223	219	220	217	206	205	205	201	213	210	206
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,132	2,233	2,100	2,268	2,069	2,247	2,434	1,979	2,103	2,267	2,573
Total Preferred & Common Equity	2,132	2,233	2,100	2,268	2,069	2,247	2,434	1,979	2,103	2,267	2,573
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,132	2,233	2,100	2,268	2,069	2,247	2,434	1,979	2,103	2,267	2,573
Common Stock	2,259	2,306	2,269	3,618	3,515	2,511	1,993	2,051	2,094	2,143	2,188
Retained Earnings	480	529	644	765	1,021	1,168	1,311	1,446	1,598	1,703	1,883
Accumulated Other Comprehensive Income / (Loss)	-12	-6.50	-29	-36	-17	-37	-38	63	-8.00	2.20	84
Other Equity Adjustments	-	-	-	-	-	-1,395	-	-	-	-	-1,581

This table displays calculated financial ratios and metrics derived from DexCom's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	62.00%	55.09%	42.61%	25.33%	43.58%	43.08%	30.54%	27.08%	18.84%	24.49%	11.34%
EBITDA Growth	38.21%	-251.91%	-5.86%	78.89%	-1,402.91%	240.44%	76.04%	-6.25%	52.37%	63.97%	3.38%
EBIT Growth	25.61%	-165.58%	-11.91%	43.98%	-413.69%	191.73%	87.08%	-18.63%	52.18%	81.78%	-0.20%
NOPAT Growth	25.61%	-165.58%	-11.91%	33.49%	-338.35%	205.87%	300.28%	-59.38%	52.14%	33.39%	7.03%
Net Income Growth	24.83%	-157.14%	-13.89%	23.48%	-153.19%	179.54%	443.72%	-60.54%	57.31%	58.70%	6.41%
EPS Growth	28.57%	-140.00%	-8.33%	25.64%	-148.28%	176.39%	443.72%	-60.54%	54.72%	58.54%	9.23%
Operating Cash Flow Growth	883.33%	107.63%	14.69%	63.70%	33.91%	155.28%	51.22%	-6.96%	51.30%	11.80%	32.20%
Free Cash Flow Firm Growth	-88.18%	-120.45%	-9.61%	29.50%	-223.31%	107.76%	929.22%	-260.66%	95.87%	2,870.59%	-6.53%
Invested Capital Growth	70.54%	79.90%	47.83%	23.92%	45.16%	42.01%	92.18%	64.47%	27.32%	8.07%	10.45%
Revenue Q/Q Growth	14.39%	13.08%	7.58%	7.45%	12.79%	9.24%	5.83%	5.58%	4.19%	6.44%	2.00%
EBITDA Q/Q Growth	22.94%	1.91%	-16.47%	73.86%	-616.00%	369.06%	0.63%	-22.12%	33.11%	18.24%	-3.10%
EBIT Q/Q Growth	15.35%	0.00%	-13.70%	40.92%	-1,795.88%	236.27%	-1.16%	-30.67%	50.89%	20.75%	-4.69%
NOPAT Q/Q Growth	15.35%	0.00%	-13.70%	29.87%	-1,736.15%	259.32%	91.63%	-61.16%	38.66%	42.62%	-15.16%
Net Income Q/Q Growth	14.83%	0.35%	-15.70%	-4.15%	-394.21%	159.02%	137.86%	-65.76%	39.78%	43.63%	-15.36%
EPS Q/Q Growth	18.92%	0.00%	-18.18%	-1.75%	-400.00%	158.51%	137.86%	-65.76%	30.16%	32.65%	-17.92%
Operating Cash Flow Q/Q Growth	20.41%	6.29%	3.69%	43.53%	-5.74%	53.79%	6.33%	-13.01%	4.15%	0.15%	20.42%
Free Cash Flow Firm Q/Q Growth	-37.85%	-12.09%	-6.15%	24.49%	-284.62%	107.24%	36.60%	-1,163.91%	65.10%	106.07%	29.70%
Invested Capital Q/Q Growth	35.89%	30.64%	19.03%	8.89%	23.98%	7.21%	45.21%	13.23%	15.79%	12.28%	1.99%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	68.02%	69.25%	66.00%	68.49%	64.36%	63.11%	66.44%	68.63%	64.72%	63.19%	60.46%
EBITDA Margin	-5.05%	-11.47%	-8.51%	-1.43%	-15.01%	14.73%	19.86%	14.65%	18.79%	24.75%	22.98%
Operating Margin	-8.29%	-14.20%	-11.15%	-5.92%	-18.06%	9.64%	15.54%	10.86%	13.44%	16.50%	14.88%
EBIT Margin	-8.29%	-14.20%	-11.15%	-4.98%	-17.83%	11.43%	16.38%	10.49%	13.43%	19.61%	17.58%
Profit (Net Income) Margin	-8.64%	-14.33%	-11.44%	-6.99%	-12.32%	6.85%	28.53%	8.86%	11.73%	14.95%	14.29%
Tax Burden Percent	100.45%	100.17%	101.08%	103.29%	100.47%	97.03%	184.53%	84.46%	87.31%	76.22%	81.27%
Interest Burden Percent	103.72%	100.70%	101.56%	135.75%	68.79%	61.77%	94.39%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	2.98%	-84.53%	15.54%	12.69%	23.78%	18.73%
Return on Invested Capital (ROIC)	-31.52%	-47.44%	-33.33%	-16.60%	-53.62%	39.62%	92.49%	21.60%	23.25%	26.61%	26.05%
ROIC Less NNEP Spread (ROIC-NNEP)	-20.11%	-29.16%	-15.69%	-4.73%	-54.73%	48.33%	92.88%	22.45%	23.30%	4.46%	-15.35%
Return on Net Nonoperating Assets (RNNOA)	11.55%	15.57%	7.35%	2.32%	30.14%	-26.54%	-51.91%	-10.39%	-6.90%	-0.82%	1.57%
Return on Equity (ROE)	-19.97%	-31.88%	-25.98%	-14.28%	-23.48%	13.08%	40.58%	11.21%	16.35%	25.78%	27.63%
Cash Return on Invested Capital (CROIC)	-83.66%	-104.53%	-71.93%	-37.96%	-90.46%	4.90%	29.40%	-27.15%	-0.79%	18.85%	16.12%
Operating Return on Assets (OROA)	-14.00%	-23.96%	-18.39%	-5.48%	-13.04%	7.83%	9.44%	5.57%	7.57%	12.19%	11.12%
Return on Assets (ROA)	-14.59%	-24.17%	-18.88%	-7.68%	-9.01%	4.69%	16.44%	4.70%	6.61%	9.29%	9.04%
Return on Common Equity (ROCE)	-19.97%	-31.88%	-25.98%	-14.28%	-23.48%	13.08%	40.58%	11.21%	16.35%	25.78%	27.63%
Return on Equity Simple (ROE_SIMPLE)	-15.98%	-26.04%	-23.11%	-11.97%	-19.16%	11.45%	30.10%	10.62%	16.01%	26.18%	27.40%
Net Operating Profit after Tax (NOPAT)	-15	-40	-45	-30	-130	138	553	225	342	456	488
NOPAT Margin	-5.81%	-9.94%	-7.80%	-4.14%	-12.64%	9.35%	28.68%	9.17%	11.74%	12.58%	12.09%
Net Nonoperating Expense Percent (NNEP)	-11.41%	-18.28%	-17.64%	-11.87%	1.11%	-8.71%	-0.39%	-0.85%	-0.06%	22.15%	41.40%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	8.33%	10.12%	10.73%
Cost of Revenue to Revenue	31.98%	30.75%	34.00%	31.51%	35.64%	36.89%	33.56%	31.37%	35.28%	36.81%	39.54%
SG&A Expenses to Revenue	49.54%	49.25%	49.92%	48.60%	41.95%	34.94%	32.09%	33.10%	34.63%	32.73%	31.88%
R&D to Revenue	26.77%	34.20%	27.23%	25.80%	40.46%	18.53%	18.68%	24.68%	16.64%	13.96%	13.70%
Operating Expenses to Revenue	76.31%	83.46%	77.15%	74.41%	82.42%	53.47%	50.90%	57.78%	51.27%	46.69%	45.58%
Earnings before Interest and Taxes (EBIT)	-22	-57	-64	-36	-184	169	316	257	391	710	709
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-13	-46	-49	-10	-155	217	383	359	547	896	927
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.52	7.52	4.45	2.97	4.01	5.67	4.86	6.37	20.52	23.18	14.45
Price to Tangible Book Value (P/TBV)	7.85	7.73	4.63	3.06	4.13	5.79	4.91	6.56	22.63	25.12	15.37
Price to Revenue (P/Rev)	4.07	4.14	2.20	1.74	2.58	3.39	4.61	5.31	15.03	13.24	7.53
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	49.51	16.15	59.98	128.19	88.54	52.72
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	2.02%	6.19%	1.67%	0.78%	1.13%	1.90%
Enterprise Value to Invested Capital (EV/IC)	16.19	14.33	7.11	5.17	7.94	11.08	9.97	9.48	26.28	26.79	15.39
Enterprise Value to Revenue (EV/Rev)	3.76	3.86	1.98	1.43	2.22	3.07	4.07	5.01	14.86	13.16	7.50
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	20.84	20.47	34.17	79.12	53.16	32.63
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	26.86	24.83	47.75	110.68	67.08	42.65
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	32.82	14.18	54.62	126.64	104.60	62.01
Enterprise Value to Operating Cash Flow (EV/OCF)	41.30	31.67	20.25	11.15	18.55	14.41	16.47	27.71	64.61	63.67	30.56
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	265.53	44.61	0.00	0.00	147.63	100.22
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.03	0.01	0.00	0.78	1.52	1.20	0.91	0.97	0.92	1.18	1.16
Long-Term Debt to Equity	0.02	0.00	0.00	0.78	1.52	1.20	0.91	0.97	0.56	1.18	0.59
Financial Leverage	-0.57	-0.53	-0.47	-0.49	-0.55	-0.55	-0.56	-0.46	-0.30	-0.18	-0.10
Leverage Ratio	1.37	1.32	1.38	1.86	2.60	2.79	2.47	2.38	2.47	2.78	3.06
Compound Leverage Factor	1.42	1.33	1.40	2.52	1.79	1.72	2.33	2.38	2.47	2.78	3.06
Debt to Total Capital	3.18%	1.03%	0.00%	43.86%	60.37%	54.56%	47.72%	49.25%	48.03%	54.06%	53.73%
Short-Term Debt to Total Capital	1.59%	1.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	18.83%	0.00%	26.51%
Long-Term Debt to Total Capital	1.59%	0.00%	0.00%	43.86%	60.37%	54.56%	47.72%	49.25%	29.20%	54.06%	27.22%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	96.82%	98.97%	100.00%	56.14%	39.63%	45.44%	52.28%	50.75%	51.97%	45.94%	46.27%
Debt to EBITDA	-0.35	-0.05	0.00	-31.81	-6.53	4.87	4.36	5.52	3.60	2.72	2.63
Net Debt to EBITDA	6.03	2.45	0.00	21.46	2.42	-2.18	-2.72	-2.09	-0.89	-0.32	-0.15
Long-Term Debt to EBITDA	-0.18	0.00	0.00	-31.81	-6.53	4.87	4.36	5.52	2.19	2.72	1.33
Debt to NOPAT	-0.31	-0.06	0.00	-11.01	-7.75	7.68	3.02	8.83	5.77	5.34	5.01
Net Debt to NOPAT	5.25	2.82	0.00	7.43	2.88	-3.43	-1.88	-3.34	-1.42	-0.64	-0.28
Long-Term Debt to NOPAT	-0.15	0.00	0.00	-11.01	-7.75	7.68	3.02	8.83	3.51	5.34	2.54
Altman Z-Score	12.17	12.85	5.63	1.97	1.84	3.23	3.57	4.13	9.36	8.59	5.74
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.59	3.46	2.73	5.36	7.64	5.47	5.58	5.11	1.99	2.84	1.47
Quick Ratio	3.10	2.83	2.20	4.92	7.25	5.05	5.11	4.50	1.72	2.38	1.22
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-40	-88	-97	-68	-220	17	176	-282	-12	323	302
Operating Cash Flow to CapEx	145.68%	147.15%	100.90%	139.39%	183.61%	174.72%	239.00%	113.69%	183.53%	316.36%	275.78%
Free Cash Flow to Firm to Interest Expense	-49.94	-220.18	-96.53	-5.32	-9.69	0.28	9.92	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	29.50	122.50	56.20	7.19	5.43	5.22	26.87	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	9.25	39.25	0.50	2.03	2.47	2.23	15.63	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.69	1.69	1.65	1.10	0.73	0.68	0.58	0.53	0.56	0.62	0.63
Accounts Receivable Turnover	7.57	6.90	6.52	6.09	5.72	5.75	5.39	5.19	4.74	4.29	4.07
Inventory Turnover	6.63	4.83	4.84	5.00	6.35	5.72	3.65	2.59	3.09	3.08	2.89
Fixed Asset Turnover	9.99	9.36	6.99	5.64	6.28	5.85	4.61	3.72	3.13	3.34	3.29
Accounts Payable Turnover	4.81	4.17	3.64	2.92	3.14	2.70	1.75	1.46	1.39	1.19	1.09
Days Sales Outstanding (DSO)	48.23	52.89	55.96	59.94	63.86	63.43	67.71	70.27	76.99	85.01	89.58
Days Inventory Outstanding (DIO)	55.04	75.60	75.47	73.03	57.52	63.85	100.06	140.68	118.03	118.57	126.13
Days Payable Outstanding (DPO)	75.95	87.56	100.19	125.19	116.29	135.24	208.16	250.49	262.15	307.58	335.36
Cash Conversion Cycle (CCC)	27.32	40.93	31.24	7.79	5.10	-7.96	-40.39	-39.54	-67.13	-104.01	-119.65
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	60	108	160	198	288	409	786	1,293	1,646	1,779	1,965
Invested Capital Turnover	5.43	4.77	4.27	4.01	4.24	4.24	3.22	2.36	1.98	2.12	2.15
Increase / (Decrease) in Invested Capital	25	48	52	38	90	121	377	507	353	133	186
Enterprise Value (EV)	975	1,552	1,138	1,026	2,286	4,532	7,835	12,261	43,254	47,655	30,239
Market Capitalization	1,054	1,665	1,262	1,247	2,661	5,005	8,876	13,011	43,740	47,945	30,377
Book Value per Share	$1.83	$2.72	$3.36	$4.83	$7.47	$9.64	$19.02	$21.07	$5.52	$5.35	$5.38
Tangible Book Value per Share	$1.75	$2.65	$3.22	$4.69	$7.26	$9.44	$18.82	$20.47	$5.00	$4.94	$5.06
Total Capital	145	224	284	747	1,674	1,942	3,494	4,024	4,102	4,503	4,544
Total Debt	4.60	2.30	0.00	328	1,010	1,060	1,667	1,982	1,970	2,434	2,441
Total Long-Term Debt	2.30	0.00	0.00	328	1,010	1,060	1,667	1,982	1,198	2,434	1,237
Net Debt	-79	-113	-124	-221	-375	-474	-1,041	-749	-486	-290	-138
Capital Expenditures (CapEx)	16	33	56	66	67	180	199	389	365	237	359
Debt-free, Cash-free Net Working Capital (DFCFNWC)	24	52	54	57	92	76	103	232	146	146	-5.60
Debt-free Net Working Capital (DFNWC)	108	167	178	606	1,477	1,609	2,811	2,964	2,602	2,870	2,574
Net Working Capital (NWC)	105	164	178	606	1,477	1,609	2,811	2,964	1,830	2,870	1,369
Net Nonoperating Expense (NNE)	7.35	18	21	20	-3.31	37	2.95	7.60	0.35	-86	-89
Net Nonoperating Obligations (NNO)	-80	-113	-124	-221	-375	-474	-1,041	-749	-486	-290	-138
Total Depreciation and Amortization (D&A)	8.40	11	15	26	29	49	67	102	156	186	218
Debt-free, Cash-free Net Working Capital to Revenue	9.26%	12.81%	9.40%	7.96%	8.87%	5.14%	5.35%	9.49%	5.01%	4.03%	-0.14%
Debt-free Net Working Capital to Revenue	41.51%	41.47%	30.98%	84.31%	143.19%	109.02%	145.88%	121.04%	89.43%	79.23%	63.82%
Net Working Capital to Revenue	40.63%	40.90%	30.98%	84.31%	143.19%	109.02%	145.88%	121.04%	62.87%	79.23%	33.95%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.30)	($0.72)	($0.78)	($0.58)	($1.44)	$1.11	$5.23	$1.60	$0.88	$1.40	$1.46
Adjusted Weighted Average Basic Shares Outstanding	77.51M	81.74M	84.82M	87.00M	90.00M	91.10M	94.40M	96.70M	389.40M	386M	393.60M
Adjusted Diluted Earnings per Share	($0.30)	($0.72)	($0.78)	($0.58)	($1.44)	$1.10	$5.06	$1.55	$0.82	$1.30	$1.42
Adjusted Weighted Average Diluted Shares Outstanding	77.51M	81.74M	84.82M	87.00M	90.00M	92.30M	97.50M	100.10M	427.50M	425.50M	412.70M
Adjusted Basic & Diluted Earnings per Share	($0.30)	($0.72)	($0.78)	($0.58)	($1.44)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	75.20M	79.80M	83.60M	86.30M	88.20M	91.59M	96.18M	97.07M	386.41M	385.52M	390.77M
Normalized Net Operating Profit after Tax (NOPAT)	-15	-40	-45	-30	-130	138	210	225	342	456	488
Normalized NOPAT Margin	-5.81%	-9.94%	-7.80%	-4.14%	-12.64%	9.35%	10.88%	9.17%	11.74%	12.58%	12.09%
Pre Tax Income Margin	-8.60%	-14.30%	-11.32%	-6.76%	-12.26%	7.06%	15.46%	10.49%	13.43%	19.61%	17.58%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-26.88	-142.75	-63.90	-2.80	-8.10	2.80	17.83	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-18.81	-99.93	-44.73	-2.32	-5.74	2.29	31.22	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-47.13	-226.00	-119.60	-7.95	-11.06	-0.19	6.59	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-39.06	-183.18	-100.43	-7.48	-8.70	-0.70	19.98	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	-78.68%	0.00%	0.00%	0.00%	163.45%	127.18%	130.16%

This table displays calculated financial ratios and metrics derived from DexCom's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	16.76%	17.92%	25.15%	26.69%	26.90%	24.21%	15.26%	1.97%	7.64%	12.49%	15.21%
EBITDA Growth	557.38%	37.26%	64.24%	55.66%	86.22%	74.36%	18.18%	-19.37%	-9.91%	15.84%	26.76%
EBIT Growth	1,711.69%	59.26%	99.13%	64.43%	98.39%	105.43%	17.89%	-26.21%	-14.18%	16.45%	28.38%
NOPAT Growth	17,493.57%	-68.05%	79.06%	1.06%	161.27%	214.09%	29.54%	11.78%	-39.94%	-18.24%	31.32%
Net Income Growth	1,832.08%	-50.05%	127.70%	19.27%	179.19%	201.23%	23.81%	11.52%	-40.81%	-28.01%	25.30%
EPS Growth	2,500.00%	-47.83%	133.33%	20.83%	175.00%	200.00%	25.00%	17.24%	-43.94%	-25.00%	28.57%
Operating Cash Flow Growth	25.24%	118.87%	10.13%	-8.19%	0.83%	34.62%	46.82%	-25.89%	125.60%	-12.14%	8.45%
Free Cash Flow Firm Growth	47.40%	65.90%	63.48%	66.43%	134.86%	73.07%	135.45%	-280.35%	-154.07%	-260.97%	-571.54%
Invested Capital Growth	27.32%	11.64%	13.63%	11.45%	8.07%	9.04%	4.96%	21.59%	10.45%	12.47%	19.26%
Revenue Q/Q Growth	5.93%	-9.04%	17.51%	11.90%	6.10%	-10.97%	9.04%	-1.01%	12.00%	-6.96%	11.69%
EBITDA Q/Q Growth	-13.48%	-33.85%	91.33%	42.17%	3.50%	-38.27%	29.68%	-3.00%	15.64%	-20.36%	41.90%
EBIT Q/Q Growth	-15.12%	-48.03%	146.98%	50.91%	2.41%	-46.40%	41.74%	-5.54%	19.11%	-26.98%	56.25%
NOPAT Q/Q Growth	-15.35%	-58.85%	162.06%	10.71%	118.84%	-50.53%	8.08%	-4.47%	17.59%	-32.66%	73.60%
Net Income Q/Q Growth	-9.29%	-47.06%	138.48%	4.14%	112.34%	-42.88%	-1.98%	-6.20%	12.70%	-30.52%	70.59%
EPS Q/Q Growth	0.00%	-50.00%	133.33%	3.57%	127.59%	-45.45%	-2.78%	-2.86%	8.82%	-27.03%	66.67%
Operating Cash Flow Q/Q Growth	-54.81%	17.28%	22.46%	41.46%	-50.37%	56.59%	33.56%	-28.60%	51.08%	-39.02%	64.85%
Free Cash Flow Firm Q/Q Growth	-50.21%	49.35%	20.82%	44.28%	255.98%	-139.13%	204.22%	-697.88%	77.83%	-161.27%	-36.14%
Invested Capital Q/Q Growth	15.79%	-0.50%	1.89%	-5.06%	12.28%	0.40%	-1.93%	9.99%	1.99%	2.23%	4.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	66.40%	62.39%	62.71%	63.93%	63.47%	61.01%	62.40%	59.73%	58.90%	56.85%	59.53%
EBITDA Margin	19.68%	14.31%	23.30%	29.60%	28.87%	20.09%	23.89%	23.41%	24.17%	20.69%	26.28%
Operating Margin	15.38%	6.37%	14.70%	21.08%	20.97%	10.98%	15.73%	15.29%	16.96%	12.91%	18.37%
EBIT Margin	15.22%	8.70%	18.28%	24.66%	23.80%	14.39%	18.70%	17.84%	18.98%	14.89%	20.84%
Profit (Net Income) Margin	11.26%	6.55%	13.30%	12.38%	24.78%	15.90%	14.29%	13.54%	13.62%	10.17%	15.54%
Tax Burden Percent	68.92%	75.35%	72.76%	50.21%	104.10%	110.49%	76.41%	75.87%	71.79%	68.31%	74.57%
Interest Burden Percent	107.33%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	31.08%	24.65%	27.24%	49.79%	-4.10%	-10.49%	23.59%	24.13%	28.21%	31.69%	25.43%
Return on Invested Capital (ROIC)	21.00%	9.34%	21.81%	23.96%	46.17%	26.94%	27.66%	26.13%	26.24%	19.27%	30.69%
ROIC Less NNEP Spread (ROIC-NNEP)	20.13%	7.36%	18.08%	20.74%	38.31%	20.37%	23.58%	20.90%	18.73%	15.36%	27.05%
Return on Net Nonoperating Assets (RNNOA)	-5.96%	-2.19%	-5.06%	-5.51%	-7.08%	-4.80%	-5.80%	-3.62%	-1.92%	-2.45%	-6.31%
Return on Equity (ROE)	15.04%	7.15%	16.75%	18.46%	39.10%	22.14%	21.87%	22.51%	24.32%	16.83%	24.39%
Cash Return on Invested Capital (CROIC)	-0.79%	6.85%	7.54%	10.42%	18.85%	22.61%	28.10%	13.25%	16.12%	12.68%	8.51%
Operating Return on Assets (OROA)	8.58%	4.97%	9.71%	14.60%	14.79%	9.12%	10.80%	10.90%	12.01%	9.34%	12.69%
Return on Assets (ROA)	6.35%	3.75%	7.07%	7.33%	15.40%	10.07%	8.26%	8.27%	8.62%	6.38%	9.46%
Return on Common Equity (ROCE)	15.04%	7.15%	16.75%	18.46%	39.10%	22.14%	21.87%	22.51%	24.32%	16.83%	24.39%
Return on Equity Simple (ROE_SIMPLE)	0.00%	13.10%	17.02%	16.62%	0.00%	28.45%	27.40%	34.40%	0.00%	23.61%	0.00%
Net Operating Profit after Tax (NOPAT)	86	36	93	103	226	112	121	115	136	91	159
NOPAT Margin	10.60%	4.80%	10.70%	10.58%	21.83%	12.13%	12.02%	11.60%	12.18%	8.82%	13.70%
Net Nonoperating Expense Percent (NNEP)	0.87%	1.98%	3.72%	3.22%	7.86%	6.57%	4.09%	5.23%	7.52%	3.91%	3.64%
Return On Investment Capital (ROIC_SIMPLE)	2.11%	-	-	-	5.01%	-	-	-	2.98%	1.94%	3.16%
Cost of Revenue to Revenue	33.60%	37.61%	37.29%	36.07%	36.53%	38.99%	37.60%	40.27%	41.10%	43.15%	40.47%
SG&A Expenses to Revenue	37.45%	39.97%	34.32%	29.37%	29.35%	34.67%	33.13%	30.82%	29.40%	29.93%	28.35%
R&D to Revenue	14.27%	16.05%	13.69%	13.48%	13.16%	15.36%	13.54%	13.62%	12.53%	14.02%	12.81%
Operating Expenses to Revenue	51.02%	56.02%	48.01%	42.85%	42.50%	50.03%	46.67%	44.44%	41.93%	43.95%	41.15%
Earnings before Interest and Taxes (EBIT)	124	65	159	240	246	133	188	177	211	154	241
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	160	106	203	289	299	185	240	233	269	214	304
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	20.52	20.10	23.72	15.96	23.18	23.85	18.52	13.57	14.45	11.77	13.30
Price to Tangible Book Value (P/TBV)	22.63	21.97	25.94	17.25	25.12	25.52	19.63	14.53	15.37	12.42	13.90
Price to Revenue (P/Rev)	15.03	14.85	15.58	10.63	13.24	14.10	11.46	6.79	7.53	6.43	7.96
Price to Earnings (P/E)	128.19	153.48	139.34	95.99	88.54	83.83	67.61	39.46	52.72	49.86	59.89
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.78%	0.65%	0.72%	1.04%	1.13%	1.19%	1.48%	2.53%	1.90%	2.01%	1.67%
Enterprise Value to Invested Capital (EV/IC)	26.28	27.05	29.60	22.41	26.79	29.75	25.35	13.92	15.39	13.16	16.15
Enterprise Value to Revenue (EV/Rev)	14.86	14.66	15.44	10.43	13.16	13.97	11.29	6.78	7.50	6.37	7.85
Enterprise Value to EBITDA (EV/EBITDA)	79.12	76.97	75.41	46.83	53.16	54.47	43.87	28.04	32.63	27.64	33.07
Enterprise Value to EBIT (EV/EBIT)	110.68	106.79	99.95	60.35	67.08	68.25	55.03	36.04	42.65	36.16	43.03
Enterprise Value to NOPAT (EV/NOPAT)	126.64	159.88	155.09	111.14	104.60	99.28	78.84	46.65	62.01	57.04	67.37
Enterprise Value to Operating Cash Flow (EV/OCF)	64.61	58.76	64.02	47.50	63.67	66.22	49.82	32.63	30.56	27.41	34.16
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	416.42	417.71	226.66	147.63	137.26	92.43	115.26	100.22	109.85	206.41
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.92	0.88	1.53	1.13	1.18	1.08	1.00	1.23	1.16	1.08	0.95
Long-Term Debt to Equity	0.56	0.54	1.16	1.07	1.18	1.08	1.00	1.23	0.59	0.55	0.48
Financial Leverage	-0.30	-0.30	-0.28	-0.27	-0.18	-0.24	-0.25	-0.17	-0.10	-0.16	-0.23
Leverage Ratio	2.47	2.39	2.76	2.81	2.78	2.68	3.00	3.05	3.06	2.93	2.82
Compound Leverage Factor	2.66	2.39	2.76	2.81	2.78	2.68	3.00	3.05	3.06	2.93	2.82
Debt to Total Capital	48.03%	46.89%	60.41%	52.99%	54.06%	52.02%	50.04%	55.21%	53.73%	51.88%	48.72%
Short-Term Debt to Total Capital	18.83%	18.39%	14.59%	2.57%	0.00%	0.00%	0.00%	0.00%	26.51%	25.59%	24.04%
Long-Term Debt to Total Capital	29.20%	28.50%	45.82%	50.42%	54.06%	52.02%	50.04%	55.21%	27.22%	26.29%	24.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	51.97%	53.11%	39.59%	47.01%	45.94%	47.98%	49.96%	44.79%	46.27%	48.12%	51.28%
Debt to EBITDA	3.60	3.43	4.89	3.37	2.72	2.50	2.41	2.55	2.63	2.56	2.40
Net Debt to EBITDA	-0.89	-1.03	-0.66	-0.90	-0.32	-0.47	-0.67	-0.06	-0.15	-0.27	-0.47
Long-Term Debt to EBITDA	2.19	2.08	3.71	3.21	2.72	2.50	2.41	2.55	1.33	1.30	1.21
Debt to NOPAT	5.77	7.12	10.06	8.00	5.34	4.55	4.33	4.24	5.01	5.27	4.88
Net Debt to NOPAT	-1.42	-2.15	-1.36	-2.14	-0.64	-0.86	-1.21	-0.09	-0.28	-0.56	-0.97
Long-Term Debt to NOPAT	3.51	4.33	7.63	7.61	5.34	4.55	4.33	4.24	2.54	2.67	2.47
Altman Z-Score	9.20	9.34	7.53	6.36	8.34	9.06	7.69	5.20	5.49	4.88	5.66
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.99	2.02	2.42	2.80	2.84	2.90	2.82	2.46	1.47	1.50	1.52
Quick Ratio	1.72	1.72	2.12	2.40	2.38	2.43	2.36	2.01	1.22	1.27	1.29
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-267	-135	-107	-60	93	-36	38	-227	-50	-131	-179
Operating Cash Flow to CapEx	208.66%	208.03%	322.54%	534.13%	254.48%	367.66%	422.69%	179.41%	241.89%	211.26%	322.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.56	0.57	0.53	0.59	0.62	0.63	0.58	0.61	0.63	0.63	0.61
Accounts Receivable Turnover	4.74	5.12	4.88	5.04	4.29	4.71	4.64	4.42	4.07	3.89	3.75
Inventory Turnover	3.09	3.04	3.03	3.04	3.08	2.96	2.96	2.79	2.89	2.99	3.11
Fixed Asset Turnover	3.13	3.13	3.17	3.27	3.34	3.48	3.48	3.30	3.29	3.35	0.00
Accounts Payable Turnover	1.39	1.37	1.25	1.15	1.19	1.17	1.08	1.02	1.09	1.07	1.01
Days Sales Outstanding (DSO)	76.99	71.33	74.85	72.39	85.01	77.55	78.65	82.51	89.58	93.88	97.34
Days Inventory Outstanding (DIO)	118.03	120.24	120.38	120.18	118.57	123.31	123.39	130.69	126.13	122.26	117.42
Days Payable Outstanding (DPO)	262.15	266.27	291.97	317.27	307.58	311.37	339.32	357.24	335.36	340.25	361.58
Cash Conversion Cycle (CCC)	-67.13	-74.70	-96.75	-124.70	-104.01	-110.52	-137.28	-144.04	-119.65	-124.11	-146.82
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,646	1,638	1,669	1,584	1,779	1,786	1,751	1,926	1,965	2,009	2,089
Invested Capital Turnover	1.98	1.95	2.04	2.26	2.12	2.22	2.30	2.25	2.15	2.19	2.24
Increase / (Decrease) in Invested Capital	353	171	200	163	133	148	83	342	186	223	337
Enterprise Value (EV)	43,254	44,298	49,383	35,505	47,655	53,129	44,406	26,812	30,239	26,428	33,743
Market Capitalization	43,740	44,894	49,815	36,188	47,945	53,590	45,089	26,865	30,377	26,686	34,227
Book Value per Share	$5.52	$5.78	$5.42	$5.85	$5.35	$5.76	$6.12	$4.94	$5.38	$5.80	$6.56
Tangible Book Value per Share	$5.00	$5.29	$4.95	$5.41	$4.94	$5.38	$5.77	$4.61	$5.06	$5.50	$6.28
Total Capital	4,102	4,205	5,305	4,825	4,503	4,683	4,872	4,419	4,544	4,710	5,018
Total Debt	1,970	1,972	3,204	2,557	2,434	2,436	2,438	2,440	2,441	2,443	2,445
Total Long-Term Debt	1,198	1,199	2,431	2,432	2,434	2,436	2,438	2,440	1,237	1,238	1,239
Net Debt	-486	-595	-432	-684	-290	-461	-683	-53	-138	-258	-484
Capital Expenditures (CapEx)	64	75	59	50	53	57	66	111	125	87	94
Debt-free, Cash-free Net Working Capital (DFCFNWC)	146	109	71	-96	146	130	5.50	36	-5.60	21	-1.70
Debt-free Net Working Capital (DFNWC)	2,602	2,676	3,707	3,144	2,870	3,027	3,126	2,528	2,574	2,722	2,928
Net Working Capital (NWC)	1,830	1,902	2,933	3,020	2,870	3,027	3,126	2,528	1,369	1,517	1,722
Net Nonoperating Expense (NNE)	-5.38	-13	-23	-18	-31	-35	-23	-19	-16	-14	-21
Net Nonoperating Obligations (NNO)	-486	-595	-432	-684	-290	-461	-683	-53	-138	-258	-484
Total Depreciation and Amortization (D&A)	36	42	44	48	53	53	52	55	58	60	63
Debt-free, Cash-free Net Working Capital to Revenue	5.01%	3.59%	2.21%	-2.83%	4.03%	3.41%	0.14%	0.91%	-0.14%	0.50%	-0.04%
Debt-free Net Working Capital to Revenue	89.43%	88.52%	115.93%	92.39%	79.23%	79.61%	79.45%	63.94%	63.82%	65.62%	68.07%
Net Working Capital to Revenue	62.87%	62.94%	91.73%	88.74%	79.23%	79.61%	79.45%	63.94%	33.95%	36.56%	40.03%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.24	$0.13	$0.30	$0.31	$0.66	$0.38	$0.36	$0.34	$0.38	$0.27	$0.46
Adjusted Weighted Average Basic Shares Outstanding	389.40M	386.70M	386.70M	386.60M	386M	390.20M	399.20M	394.20M	393.60M	391.10M	392.10M
Adjusted Diluted Earnings per Share	$0.24	$0.12	$0.28	$0.29	$0.66	$0.36	$0.35	$0.34	$0.37	$0.27	$0.45
Adjusted Weighted Average Diluted Shares Outstanding	427.50M	418.50M	431.50M	426.80M	425.50M	416.70M	416.80M	410.20M	412.70M	407.50M	408.20M
Adjusted Basic & Diluted Earnings per Share	$0.24	$0.00	$0.00	$0.00	$0.66	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	386.41M	387.64M	387.87M	386.37M	385.52M	397.68M	400.73M	390.60M	390.77M	392.11M	392.16M
Normalized Net Operating Profit after Tax (NOPAT)	86	36	93	103	152	71	121	115	136	91	159
Normalized NOPAT Margin	10.60%	4.80%	10.70%	10.58%	14.68%	7.68%	12.02%	11.60%	12.18%	8.82%	13.70%
Pre Tax Income Margin	16.34%	8.70%	18.28%	24.66%	23.80%	14.39%	18.70%	17.84%	18.98%	14.89%	20.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	163.45%	0.00%	208.78%	50.05%	127.18%	0.00%	74.97%	183.61%	130.16%	0.00%	0.00%

Key Financial Trends

DexCom (NASDAQ:DXCM) Financial Summary and Trends Analysis (Q3 2022 to Q2 2025)

DexCom has demonstrated consistent revenue growth and improving profitability over the analyzed period, supported by strong operating cash flow generation and balanced capital management.

Revenue Growth: Operating revenue increased from $741.5 million in Q1 2023 to $1.157 billion in Q2 2025, indicating solid top-line expansion.
Profitability Improvement: Net income rose from $48.6 million (Q1 2023) to $179.8 million (Q2 2025), with diluted EPS growing from $0.12 to $0.45 over the same timeframe.
Gross Profit Expansion: Gross profit consistently improved, reaching $688.8 million in Q2 2025 from $462.6 million in Q1 2023, reflecting operational efficiency and favorable revenue mix.
Strong Operating Cash Flow: Net cash from operating activities grew robustly to $303 million in Q2 2025, from $155.4 million in Q1 2023, evidencing strong cash generation capability.
Investment in Growth Assets: Consistent capital expenditures for property, plant, and equipment indicate ongoing investments in infrastructure; $94.1 million spent in Q2 2025.
Healthy Liquidity Position: Cash and equivalents increased to $1.159 billion in Q2 2025 from $623.2 million in Q1 2023, supplemented by significant short-term investments ($1.77 billion in Q2 2025).
Controlled Debt Levels: Long-term debt remained stable around $1.2 to $2.4 billion with small repayments each quarter, showing controlled leverage.
Shareholder Equity Growth: Total common equity increased from approximately $2.24 billion in Q1 2023 to $2.57 billion in Q2 2025, reflecting retained earnings growth.
Fluctuating Other Equity Adjustments: Other equity adjustments such as treasury stock vary, with a significant negative adjustment (-$1.58 billion in Q2 2025), which may relate to share repurchases or accounting reclassifications.
Exchange Rate Effects: The company experienced occasional positive and negative impact from currency fluctuations on cash balances over the quarters.
Rising Operating Expenses: Total operating expenses increased from $415.4 million in Q1 2023 to $476.2 million in Q2 2025, partly reflecting increased SG&A and R&D expenses which may pressure margins if revenue growth slows.
Inventory Build-Up: Inventories trended higher from $366 million in Q1 2023 to $570 million in Q2 2025, which could indicate potential risk of obsolescence or demand forecasting challenges.
Significant Investments Purchases: Purchase of investments was consistently high, with $608 million spent in Q2 2025, which may affect near-term liquidity if not matched by investment returns.
Large Stock Repurchases Recently Conducted: Past quarters show substantial repurchase programs (e.g., -$750 million in Q3 2024), which reduces cash reserves though can enhance shareholder value if executed prudently.

Summary: DexCom’s financial performance from 2022 through mid-2025 reflects strong growth in sales and earnings, effective cash flow generation, and maintained investment for future growth. Operational expenses are rising but generally in line with revenue gains. The company’s strong liquidity and balance sheet provide financial flexibility. Key risks include managing rising expenses and inventory levels, and the impact of significant investment activities.

Overall, DexCom remains on a growth trajectory with a solid financial foundation, making it an attractive consideration for investors focusing on innovative healthcare technology with growing demand.

08/28/25 03:50 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About DexCom's Financials

When does DexCom's financial year end?

According to the most recent income statement we have on file, DexCom's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has DexCom's net income changed over the last 10 years?

DexCom's net income appears to be on an upward trend, with a most recent value of $576.20 million in 2024, falling from -$22.40 million in 2014. The previous period was $541.50 million in 2023. Check out DexCom's forecast to explore projected trends and price targets.

What is DexCom's operating income?

DexCom's total operating income in 2024 was $600 million, based on the following breakdown:

Total Gross Profit: $2.44 billion
Total Operating Expenses: $1.84 billion

How has DexCom's revenue changed over the last 10 years?

Over the last 10 years, DexCom's total revenue changed from $259.20 million in 2014 to $4.03 billion in 2024, a change of 1,455.9%.

How much debt does DexCom have?

DexCom's total liabilities were at $4.38 billion at the end of 2024, a 4.4% increase from 2023, and a 9,769.1% increase since 2014.

How much cash does DexCom have?

In the past 10 years, DexCom's cash and equivalents has ranged from $71.80 million in 2014 to $1.14 billion in 2018, and is currently $606.10 million as of their latest financial filing in 2024.

How has DexCom's book value per share changed over the last 10 years?

Over the last 10 years, DexCom's book value per share changed from 1.83 in 2014 to 5.38 in 2024, a change of 194.0%.

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This page (NASDAQ:DXCM) was last updated on 8/28/2025 by MarketBeat.com Staff

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