DexCom (DXCM) Financials

$81.01 -0.82 (-1.00%)

Closing price 06/18/2025 04:00 PM Eastern

Extended Trading

$81.42 +0.41 (+0.50%)

As of 06/18/2025 07:40 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	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	-58	-66	-50	-127	101	550	217	341	542	576
Consolidated Net Income / (Loss)	-58	-66	-50	-127	101	550	217	341	542	576
Net Income / (Loss) Continuing Operations	-58	-66	-50	-127	101	550	217	341	542	576
Total Pre-Tax Income	-58	-65	-49	-127	104	298	257	391	710	709
Total Operating Income	-57	-64	-43	-186	142	300	266	391	598	600
Total Gross Profit	278	378	492	664	932	1,280	1,681	1,883	2,289	2,438
Total Revenue	402	573	719	1,032	1,476	1,927	2,449	2,910	3,622	4,033
Operating Revenue	402	573	719	1,032	1,476	1,927	2,449	2,910	3,622	4,033
Total Cost of Revenue	124	195	226	368	545	647	768	1,027	1,333	1,595
Operating Cost of Revenue	124	195	226	368	545	647	768	1,027	1,333	1,595
Total Operating Expenses	336	442	535	850	789	981	1,415	1,492	1,691	1,838
Selling, General & Admin Expense	198	286	349	433	516	618	811	1,008	1,185	1,286
Research & Development Expense	138	156	185	417	274	360	604	484	506	552
Total Other Income / (Expense), net	-0.40	-1.00	-6.10	60	-38	-1.60	-9.00	-0.40	113	109
Other Income / (Expense), net	-	-	6.70	2.40	26	16	-9.00	-0.40	113	109
Income Tax Expense	0.10	0.70	1.60	0.60	3.10	-252	40	50	169	133
Basic Earnings per Share	($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	79.80M	83.60M	86.30M	88.20M	91.10M	377.50M	386.90M	389.40M	386M	393.60M
Diluted Earnings per Share	($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	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	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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	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
Net Income / (Loss) Attributable to Common Shareholders	101	92	49	116	121	256	146	144	135	152	105
Consolidated Net Income / (Loss)	101	92	49	116	121	256	146	144	135	152	105
Net Income / (Loss) Continuing Operations	101	92	49	116	121	256	146	144	135	152	105
Total Pre-Tax Income	146	133	65	159	240	246	133	188	177	211	154
Total Operating Income	148	125	47	128	206	217	101	158	152	189	134
Total Gross Profit	494	541	463	546	623	657	562	627	594	656	589
Total Revenue	770	815	742	871	975	1,035	921	1,004	994	1,114	1,036
Operating Revenue	770	815	742	871	975	1,035	921	1,004	994	1,114	1,036
Total Cost of Revenue	275	274	279	325	352	378	359	378	400	458	447
Operating Cost of Revenue	275	274	279	325	352	378	359	378	400	458	447
Total Operating Expenses	347	416	415	418	418	440	461	469	442	467	455
Selling, General & Admin Expense	235	305	296	299	286	304	319	333	306	327	310
Research & Development Expense	110	116	119	119	131	136	142	136	135	140	145
Total Other Income / (Expense), net	-1.30	7.80	17	31	35	29	31	30	25	22	21
Other Income / (Expense), net	-1.30	-1.30	17	31	35	29	31	30	25	22	21
Income Tax Expense	45	41	16	43	120	-10	-14	44	43	60	49
Basic Earnings per Share	$0.26	$0.24	$0.13	$0.30	$0.31	$0.66	$0.38	$0.36	$0.34	$0.38	$0.27
Weighted Average Basic Shares Outstanding	389.80M	389.40M	386.70M	386.70M	386.60M	386M	390.20M	399.20M	394.20M	393.60M	391.10M
Diluted Earnings per Share	$0.24	$0.24	$0.12	$0.28	$0.29	$0.66	$0.36	$0.35	$0.34	$0.37	$0.27
Weighted Average Diluted Shares Outstanding	425.80M	427.50M	418.50M	431.50M	426.80M	425.50M	416.70M	416.80M	410.20M	412.70M	407.50M
Weighted Average Basic & Diluted Shares Outstanding	386.26M	386.41M	387.64M	387.87M	386.37M	385.52M	397.68M	400.73M	390.60M	390.77M	392.11M

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	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	14	8.40	347	694	-691	372	235	-410	-76	40
Net Cash From Operating Activities	49	56	92	123	315	476	443	670	749	990
Net Cash From Continuing Operating Activities	49	56	92	123	310	476	443	670	749	990
Net Income / (Loss) Continuing Operations	-58	-66	-50	-127	101	550	217	341	542	576
Consolidated Net Income / (Loss)	-58	-66	-50	-127	101	550	217	341	542	576
Depreciation Expense	11	15	16	29	49	67	102	156	186	218
Non-Cash Adjustments To Reconcile Net Income	121	113	114	264	154	140	240	167	73	131
Changes in Operating Assets and Liabilities, net	-25	-6.30	2.60	-43	6.30	-281	-116	5.10	-52	65
Net Cash From Investing Activities	-52	-56	-144	-140	-1,015	-1,018	-216	-522	-507	-208
Net Cash From Continuing Investing Activities	-52	-56	-144	-140	-1,015	-1,018	-216	-522	-507	-208
Purchase of Property, Plant & Equipment	-33	-56	-66	-67	-180	-199	-389	-365	-237	-359
Acquisitions	-0.50	0.30	0.00	-11	0.00	0.00	-30	-3.90	0.00	0.00
Purchase of Investments	-45	-39	-172	-453	-2,030	-3,058	-2,473	-2,281	-3,220	-2,658
Sale and/or Maturity of Investments	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	17	8.10	399	710	11	912	10	-553	-319	-735
Net Cash From Continuing Financing Activities	17	8.10	399	710	11	912	10	-553	-319	-735
Repayment of Debt	-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	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	0.30	0.10	2.40	3.60	10	11	12	12	12	11
Cash Income Taxes Paid	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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	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
Net Change in Cash & Equivalents	-37	-56	-19	572	-551	-77	285	88	-318	-15	299
Net Cash From Operating Activities	293	133	155	190	269	134	209	279	200	301	184
Net Cash From Continuing Operating Activities	293	132	155	190	269	134	209	279	200	301	184
Net Income / (Loss) Continuing Operations	101	92	49	116	121	256	146	144	135	152	105
Consolidated Net Income / (Loss)	101	92	49	116	121	256	146	144	135	152	105
Depreciation Expense	39	36	42	44	48	53	53	52	55	58	60
Non-Cash Adjustments To Reconcile Net Income	48	38	14	35	22	1.40	33	31	5.40	61	24
Changes in Operating Assets and Liabilities, net	105	-34	52	-4.70	78	-177	-23	53	4.20	31	-5.40
Net Cash From Investing Activities	229	-194	-187	-556	-180	415	75	-189	210	-304	100
Net Cash From Continuing Investing Activities	229	-194	-187	-556	-180	415	75	-189	210	-304	100
Purchase of Property, Plant & Equipment	-108	-64	-75	-59	-50	-53	-57	-66	-111	-125	-87
Purchase of Investments	-254	-883	-810	-1,340	-798	-272	-992	-784	-307	-574	-463
Sale and/or Maturity of Investments	602	740	698	859	671	719	1,122	667	631	405	650
Other Investing Activities, net	-10	13	0.00	-16	-2.50	20	2.30	-5.40	-2.20	-10	-0.50
Net Cash From Financing Activities	-553	-1.00	11	940	-637	-632	4.70	-1.40	-737	-1.60	13
Net Cash From Continuing Financing Activities	-553	-1.00	11	940	-637	-632	4.70	-1.40	-737	-1.60	13
Repayment of Debt	-7.20	-1.00	-1.10	-1.10	-652	-132	-8.70	-1.40	-1.30	-1.60	-1.70
Issuance of Common Equity	12	-	12	-	14	-	13	-	15	-	14
Effect of Exchange Rate Changes	-7.30	6.80	1.10	-2.20	-3.50	6.10	-3.80	-1.00	8.60	-11	2.30

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	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	292	403	904	1,916	2,395	4,291	4,933	5,392	6,265	6,485
Total Current Assets	231	280	745	1,700	1,969	3,425	3,684	3,669	4,426	4,301
Cash & Equivalents	86	95	442	1,137	446	818	1,053	642	566	606
Short-Term Investments	29	29	107	249	1,087	1,890	1,679	1,814	2,158	1,973
Accounts Receivable	74	102	134	227	286	429	514	713	974	1,006
Inventories, net	35	45	45	71	120	235	357	307	560	543
Prepaid Expenses	6.80	9.20	17	17	30	54	82	193	168	174
Plant, Property, & Equipment, net	55	109	146	183	321	515	802	1,056	1,113	1,340
Total Noncurrent Assets	6.00	13	14	33	104	350	447	667	726	843
Goodwill	3.70	11	12	19	19	19	27	26	25	23
Intangible Assets	2.20	-	-	-	-	-	32	173	135	103
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	0.00	216	291	341	419	481
Other Noncurrent Operating Assets	0.10	2.10	1.70	15	86	115	99	127	146	236
Total Liabilities & Shareholders' Equity	292	403	904	1,916	2,395	4,291	4,933	5,392	6,265	6,485
Total Liabilities	71	119	485	1,253	1,512	2,464	2,891	3,260	4,196	4,382
Total Current Liabilities	67	102	139	222	360	614	721	1,839	1,556	2,932
Short-Term Debt	2.30	-	-	-	-	-	0.00	773	0.00	1,204
Accounts Payable	39	68	87	147	256	481	573	902	1,346	1,585
Current Deferred Revenue	0.80	0.90	3.20	2.90	1.70	2.20	2.10	10	18	8.00
Current Employee Benefit Liabilities	25	33	49	72	89	114	125	134	171	112
Other Current Liabilities	-	-	-	0.00	14	17	21	21	21	23
Total Noncurrent Liabilities	3.90	17	346	1,030	1,152	1,850	2,170	1,421	2,640	1,450
Long-Term Debt	-	0.00	328	1,010	1,060	1,667	1,982	1,198	2,434	1,237
Other Noncurrent Operating Liabilities	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
Total Equity & Noncontrolling Interests	221	284	419	663	883	1,827	2,042	2,132	2,069	2,103
Total Preferred & Common Equity	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
Total Common Equity	221	284	419	663	883	1,827	2,042	2,132	2,069	2,103
Common Stock	777	906	1,094	1,561	1,676	2,125	2,109	2,259	3,515	2,094
Retained Earnings	-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)	-0.30	-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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	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
Total Assets	4,899	5,392	5,516	6,821	6,596	6,265	6,482	6,799	6,354	6,485	6,752
Total Current Assets	3,399	3,669	3,767	5,003	4,698	4,426	4,621	4,848	4,263	4,301	4,554
Cash & Equivalents	698	642	623	1,195	644	566	851	939	621	606	905
Short-Term Investments	1,674	1,814	1,944	2,441	2,597	2,158	2,046	2,182	1,871	1,973	1,797
Accounts Receivable	564	713	637	751	786	974	979	945	1,002	1,006	1,155
Inventories, net	311	307	366	421	499	560	589	570	586	543	538
Prepaid Expenses	152	193	198	195	174	168	156	212	182	174	159
Plant, Property, & Equipment, net	1,003	1,056	1,076	1,078	1,079	1,113	1,109	1,183	1,319	1,340	1,365
Total Noncurrent Assets	498	667	673	740	819	726	753	768	772	843	833
Goodwill	25	26	26	26	25	25	23	23	24	23	23
Intangible Assets	24	173	164	154	145	135	123	115	106	103	95
Noncurrent Deferred & Refundable Income Taxes	342	341	349	417	501	419	461	476	487	481	487
Other Noncurrent Operating Assets	107	127	135	143	148	146	146	154	156	236	228
Total Liabilities & Shareholders' Equity	4,899	5,392	5,516	6,821	6,596	6,265	6,482	6,799	6,354	6,485	6,752
Total Liabilities	3,075	3,260	3,283	4,720	4,328	4,196	4,235	4,365	4,375	4,382	4,485
Total Current Liabilities	901	1,839	1,865	2,070	1,679	1,556	1,594	1,722	1,735	2,932	3,037
Short-Term Debt	-	773	773	774	124	0.00	-	-	-	1,204	1,205
Accounts Payable	764	902	965	1,157	1,373	1,346	1,447	1,570	1,593	1,585	1,691
Current Deferred Revenue	2.70	10	9.60	9.00	9.00	18	16	15	14	8.00	7.80
Current Employee Benefit Liabilities	113	134	95	109	151	171	111	116	106	112	111
Other Current Liabilities	21	21	22	22	21	21	21	22	22	23	23
Total Noncurrent Liabilities	2,174	1,421	1,418	2,651	2,650	2,640	2,641	2,643	2,640	1,450	1,448
Long-Term Debt	1,969	1,198	1,199	2,431	2,432	2,434	2,436	2,438	2,440	1,237	1,238
Other Noncurrent Operating Liabilities	205	223	219	220	217	206	205	205	201	213	210
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	1,825	2,132	2,233	2,100	2,268	2,069	2,247	2,434	1,979	2,103	2,267
Total Preferred & Common Equity	1,825	2,132	2,233	2,100	2,268	2,069	2,247	2,434	1,979	2,103	2,267
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	1,825	2,132	2,233	2,100	2,268	2,069	2,247	2,434	1,979	2,103	2,267
Common Stock	2,073	2,259	2,306	2,269	3,618	3,515	2,511	1,993	2,051	2,094	2,143
Retained Earnings	388	480	529	644	765	1,021	1,168	1,311	1,446	1,598	1,703
Treasury Stock	-595	-595	-595	-784	-2,080	-2,451	-	-832	-1,581	-1,581	-1,581
Accumulated Other Comprehensive Income / (Loss)	-41	-12	-6.50	-29	-36	-17	-37	-38	63	-8.00	2.20

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	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	55.09%	42.61%	25.33%	43.58%	43.08%	30.54%	27.08%	18.84%	24.49%	11.34%
EBITDA Growth	-251.91%	-5.86%	78.89%	-1,402.91%	240.44%	76.04%	-6.25%	52.37%	63.97%	3.38%
EBIT Growth	-165.58%	-11.91%	43.98%	-413.69%	191.73%	87.08%	-18.63%	52.18%	81.78%	-0.20%
NOPAT Growth	-165.58%	-11.91%	33.49%	-338.35%	205.87%	300.28%	-59.38%	52.14%	33.39%	7.03%
Net Income Growth	-157.14%	-13.89%	23.48%	-153.19%	179.54%	443.72%	-60.54%	57.31%	58.70%	6.41%
EPS Growth	-140.00%	-8.33%	25.64%	-148.28%	176.39%	443.72%	-60.54%	54.72%	58.54%	9.23%
Operating Cash Flow Growth	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	-120.45%	-9.61%	29.50%	-223.31%	107.76%	929.22%	-260.66%	95.87%	2,870.59%	-6.53%
Invested Capital Growth	79.90%	47.83%	23.92%	45.16%	42.01%	92.18%	64.47%	27.32%	8.07%	10.45%
Revenue Q/Q Growth	13.08%	7.58%	7.45%	12.79%	9.24%	5.83%	5.58%	4.19%	6.44%	2.00%
EBITDA Q/Q Growth	1.91%	-16.47%	73.86%	-616.00%	369.06%	0.63%	-22.12%	33.11%	18.24%	-3.10%
EBIT Q/Q Growth	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	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	0.35%	-15.70%	-4.15%	-394.21%	159.02%	137.86%	-65.76%	39.78%	43.63%	-15.36%
EPS Q/Q Growth	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	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	-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	30.64%	19.03%	8.89%	23.98%	7.21%	45.21%	13.23%	15.79%	12.28%	1.99%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	69.25%	66.00%	68.49%	64.36%	63.11%	66.44%	68.63%	64.72%	63.19%	60.46%
EBITDA Margin	-11.47%	-8.51%	-1.43%	-15.01%	14.73%	19.86%	14.65%	18.79%	24.75%	22.98%
Operating Margin	-14.20%	-11.15%	-5.92%	-18.06%	9.64%	15.54%	10.86%	13.44%	16.50%	14.88%
EBIT Margin	-14.20%	-11.15%	-4.98%	-17.83%	11.43%	16.38%	10.49%	13.43%	19.61%	17.58%
Profit (Net Income) Margin	-14.33%	-11.44%	-6.99%	-12.32%	6.85%	28.53%	8.86%	11.73%	14.95%	14.29%
Tax Burden Percent	100.17%	101.08%	103.29%	100.47%	97.03%	184.53%	84.46%	87.31%	76.22%	81.27%
Interest Burden Percent	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%	2.98%	-84.53%	15.54%	12.69%	23.78%	18.73%
Return on Invested Capital (ROIC)	-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)	-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)	15.57%	7.35%	2.32%	30.14%	-26.54%	-51.91%	-10.39%	-6.90%	-0.82%	1.57%
Return on Equity (ROE)	-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)	-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)	-23.96%	-18.39%	-5.48%	-13.04%	7.83%	9.44%	5.57%	7.57%	12.19%	11.12%
Return on Assets (ROA)	-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)	-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)	-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)	-40	-45	-30	-130	138	553	225	342	456	488
NOPAT Margin	-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)	-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	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	49.25%	49.92%	48.60%	41.95%	34.94%	32.09%	33.10%	34.63%	32.73%	31.88%
R&D to Revenue	34.20%	27.23%	25.80%	40.46%	18.53%	18.68%	24.68%	16.64%	13.96%	13.70%
Operating Expenses to Revenue	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)	-57	-64	-36	-184	169	316	257	391	710	709
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-46	-49	-10	-155	217	383	359	547	896	927
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	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)	7.73	4.63	3.06	4.13	5.79	4.91	6.56	22.63	25.12	15.37
Price to Revenue (P/Rev)	4.14	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	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%
Earnings Yield	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)	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)	3.86	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	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	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	32.82	14.18	54.62	126.64	104.60	62.01
Enterprise Value to Operating Cash Flow (EV/OCF)	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	265.53	44.61	0.00	0.00	147.63	100.22
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	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	0.00	0.00	0.78	1.52	1.20	0.91	0.97	0.56	1.18	0.59
Financial Leverage	-0.53	-0.47	-0.49	-0.55	-0.55	-0.56	-0.46	-0.30	-0.18	-0.10
Leverage Ratio	1.32	1.38	1.86	2.60	2.79	2.47	2.38	2.47	2.78	3.06
Compound Leverage Factor	1.33	1.40	2.52	1.79	1.72	2.33	2.38	2.47	2.78	3.06
Debt to Total Capital	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	1.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	18.83%	0.00%	26.51%
Long-Term Debt to Total Capital	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%
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%
Common Equity to Total Capital	98.97%	100.00%	56.14%	39.63%	45.44%	52.28%	50.75%	51.97%	45.94%	46.27%
Debt to EBITDA	-0.05	0.00	-31.81	-6.53	4.87	4.36	5.52	3.60	2.72	2.63
Net Debt to EBITDA	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	0.00	0.00	-31.81	-6.53	4.87	4.36	5.52	2.19	2.72	1.33
Debt to NOPAT	-0.06	0.00	-11.01	-7.75	7.68	3.02	8.83	5.77	5.34	5.01
Net Debt to NOPAT	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	0.00	0.00	-11.01	-7.75	7.68	3.02	8.83	3.51	5.34	2.54
Altman Z-Score	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%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.46	2.73	5.36	7.64	5.47	5.58	5.11	1.99	2.84	1.47
Quick Ratio	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)	-88	-97	-68	-220	17	176	-282	-12	323	302
Operating Cash Flow to CapEx	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	-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	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	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	1.65	1.10	0.73	0.68	0.58	0.53	0.56	0.62	0.63
Accounts Receivable Turnover	6.90	6.52	6.09	5.72	5.75	5.39	5.19	4.74	4.29	4.07
Inventory Turnover	4.83	4.84	5.00	6.35	5.72	3.65	2.59	3.09	3.08	2.89
Fixed Asset Turnover	9.36	6.99	5.64	6.28	5.85	4.61	3.72	3.13	3.34	3.29
Accounts Payable Turnover	4.17	3.64	2.92	3.14	2.70	1.75	1.46	1.39	1.19	1.09
Days Sales Outstanding (DSO)	52.89	55.96	59.94	63.86	63.43	67.71	70.27	76.99	85.01	89.58
Days Inventory Outstanding (DIO)	75.60	75.47	73.03	57.52	63.85	100.06	140.68	118.03	118.57	126.13
Days Payable Outstanding (DPO)	87.56	100.19	125.19	116.29	135.24	208.16	250.49	262.15	307.58	335.36
Cash Conversion Cycle (CCC)	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	108	160	198	288	409	786	1,293	1,646	1,779	1,965
Invested Capital Turnover	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	48	52	38	90	121	377	507	353	133	186
Enterprise Value (EV)	1,552	1,138	1,026	2,286	4,532	7,835	12,261	43,254	47,655	30,239
Market Capitalization	1,665	1,262	1,247	2,661	5,005	8,876	13,011	43,740	47,945	30,377
Book Value per Share	$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	$2.65	$3.22	$4.69	$7.26	$9.44	$18.82	$20.47	$5.00	$4.94	$5.06
Total Capital	224	284	747	1,674	1,942	3,494	4,024	4,102	4,503	4,544
Total Debt	2.30	0.00	328	1,010	1,060	1,667	1,982	1,970	2,434	2,441
Total Long-Term Debt	0.00	0.00	328	1,010	1,060	1,667	1,982	1,198	2,434	1,237
Net Debt	-113	-124	-221	-375	-474	-1,041	-749	-486	-290	-138
Capital Expenditures (CapEx)	33	56	66	67	180	199	389	365	237	359
Debt-free, Cash-free Net Working Capital (DFCFNWC)	52	54	57	92	76	103	232	146	146	-5.60
Debt-free Net Working Capital (DFNWC)	167	178	606	1,477	1,609	2,811	2,964	2,602	2,870	2,574
Net Working Capital (NWC)	164	178	606	1,477	1,609	2,811	2,964	1,830	2,870	1,369
Net Nonoperating Expense (NNE)	18	21	20	-3.31	37	2.95	7.60	0.35	-86	-89
Net Nonoperating Obligations (NNO)	-113	-124	-221	-375	-474	-1,041	-749	-486	-290	-138
Total Depreciation and Amortization (D&A)	11	15	26	29	49	67	102	156	186	218
Debt-free, Cash-free Net Working Capital to Revenue	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	41.47%	30.98%	84.31%	143.19%	109.02%	145.88%	121.04%	89.43%	79.23%	63.82%
Net Working Capital to Revenue	40.90%	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	($0.72)	($0.78)	($0.58)	($1.44)	$1.11	$5.23	$1.60	$0.88	$1.40	$1.46
Adjusted Weighted Average Basic Shares Outstanding	81.74M	84.82M	87.00M	90.00M	91.10M	94.40M	96.70M	389.40M	386M	393.60M
Adjusted Diluted Earnings per Share	($0.72)	($0.78)	($0.58)	($1.44)	$1.10	$5.06	$1.55	$0.82	$1.30	$1.42
Adjusted Weighted Average Diluted Shares Outstanding	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	($0.72)	($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	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)	-40	-45	-30	-130	138	210	225	342	456	488
Normalized NOPAT Margin	-9.94%	-7.80%	-4.14%	-12.64%	9.35%	10.88%	9.17%	11.74%	12.58%	12.09%
Pre Tax Income Margin	-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	-142.75	-63.90	-2.80	-8.10	2.80	17.83	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-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	-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	-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%
Augmented Payout Ratio	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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	18.36%	16.76%	17.92%	25.15%	26.69%	26.90%	24.21%	15.26%	1.97%	7.64%	12.49%
EBITDA Growth	30.47%	557.38%	37.26%	64.24%	55.66%	86.22%	74.36%	18.18%	-19.37%	-9.91%	15.84%
EBIT Growth	25.39%	1,711.69%	59.26%	99.13%	64.43%	98.39%	105.43%	17.89%	-26.21%	-14.18%	16.45%
NOPAT Growth	10.72%	17,493.57%	-68.05%	79.06%	1.06%	161.27%	214.09%	29.54%	11.78%	-39.94%	-18.24%
Net Income Growth	15.92%	1,832.08%	-50.05%	127.70%	19.27%	179.19%	201.23%	23.81%	11.52%	-40.81%	-28.01%
EPS Growth	14.29%	2,500.00%	-47.83%	133.33%	20.83%	175.00%	200.00%	25.00%	17.24%	-43.94%	-25.00%
Operating Cash Flow Growth	18.56%	25.24%	118.87%	10.13%	-8.19%	0.83%	34.62%	46.82%	-25.89%	125.60%	-12.14%
Free Cash Flow Firm Growth	65.05%	47.40%	65.90%	63.48%	66.43%	134.86%	73.07%	135.45%	-280.35%	-154.07%	-260.97%
Invested Capital Growth	24.50%	27.32%	11.64%	13.63%	11.45%	8.07%	9.04%	4.96%	21.59%	10.45%	12.47%
Revenue Q/Q Growth	10.54%	5.93%	-9.04%	17.51%	11.90%	6.10%	-10.97%	9.04%	-1.01%	12.00%	-6.96%
EBITDA Q/Q Growth	50.00%	-13.48%	-33.85%	91.33%	42.17%	3.50%	-38.27%	29.68%	-3.00%	15.64%	-20.36%
EBIT Q/Q Growth	82.75%	-15.12%	-48.03%	146.98%	50.91%	2.41%	-46.40%	41.74%	-5.54%	19.11%	-26.98%
NOPAT Q/Q Growth	96.16%	-15.35%	-58.85%	162.06%	10.71%	118.84%	-50.53%	8.08%	-4.47%	17.59%	-32.66%
Net Income Q/Q Growth	98.82%	-9.29%	-47.06%	138.48%	4.14%	112.34%	-42.88%	-1.98%	-6.20%	12.70%	-30.52%
EPS Q/Q Growth	100.00%	0.00%	-50.00%	133.33%	3.57%	127.59%	-45.45%	-2.78%	-2.86%	8.82%	-27.03%
Operating Cash Flow Q/Q Growth	69.68%	-54.81%	17.28%	22.46%	41.46%	-50.37%	56.59%	33.56%	-28.60%	51.08%	-39.02%
Free Cash Flow Firm Q/Q Growth	39.38%	-50.21%	49.35%	20.82%	44.28%	255.98%	-139.13%	204.22%	-697.88%	77.83%	-161.27%
Invested Capital Q/Q Growth	-3.20%	15.79%	-0.50%	1.89%	-5.06%	12.28%	0.40%	-1.93%	9.99%	1.99%	2.23%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	64.22%	66.40%	62.39%	62.71%	63.93%	63.47%	61.01%	62.40%	59.73%	58.90%	56.85%
EBITDA Margin	24.09%	19.68%	14.31%	23.30%	29.60%	28.87%	20.09%	23.89%	23.41%	24.17%	20.69%
Operating Margin	19.17%	15.38%	6.37%	14.70%	21.08%	20.97%	10.98%	15.73%	15.29%	16.96%	12.91%
EBIT Margin	19.00%	15.22%	8.70%	18.28%	24.66%	23.80%	14.39%	18.70%	17.84%	18.98%	14.89%
Profit (Net Income) Margin	13.15%	11.26%	6.55%	13.30%	12.38%	24.78%	15.90%	14.29%	13.54%	13.62%	10.17%
Tax Burden Percent	69.22%	68.92%	75.35%	72.76%	50.21%	104.10%	110.49%	76.41%	75.87%	71.79%	68.31%
Interest Burden Percent	100.00%	107.33%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	30.78%	31.08%	24.65%	27.24%	49.79%	-4.10%	-10.49%	23.59%	24.13%	28.21%	31.69%
Return on Invested Capital (ROIC)	28.91%	21.00%	9.34%	21.81%	23.96%	46.17%	26.94%	27.66%	26.13%	26.24%	19.27%
ROIC Less NNEP Spread (ROIC-NNEP)	29.04%	20.13%	7.36%	18.08%	20.74%	38.31%	20.37%	23.58%	20.90%	18.73%	15.36%
Return on Net Nonoperating Assets (RNNOA)	-10.25%	-5.96%	-2.19%	-5.06%	-5.51%	-7.08%	-4.80%	-5.80%	-3.62%	-1.92%	-2.45%
Return on Equity (ROE)	18.66%	15.04%	7.15%	16.75%	18.46%	39.10%	22.14%	21.87%	22.51%	24.32%	16.83%
Cash Return on Invested Capital (CROIC)	-2.60%	-0.79%	6.85%	7.54%	10.42%	18.85%	22.61%	28.10%	13.25%	16.12%	12.68%
Operating Return on Assets (OROA)	10.97%	8.58%	4.97%	9.71%	14.60%	14.79%	9.12%	10.80%	10.90%	12.01%	9.34%
Return on Assets (ROA)	7.59%	6.35%	3.75%	7.07%	7.33%	15.40%	10.07%	8.26%	8.27%	8.62%	6.38%
Return on Common Equity (ROCE)	18.66%	15.04%	7.15%	16.75%	18.46%	39.10%	22.14%	21.87%	22.51%	24.32%	16.83%
Return on Equity Simple (ROE_SIMPLE)	13.38%	0.00%	13.10%	17.02%	16.62%	0.00%	28.45%	27.40%	34.40%	0.00%	23.61%
Net Operating Profit after Tax (NOPAT)	102	86	36	93	103	226	112	121	115	136	91
NOPAT Margin	13.27%	10.60%	4.80%	10.70%	10.58%	21.83%	12.13%	12.02%	11.60%	12.18%	8.82%
Net Nonoperating Expense Percent (NNEP)	-0.13%	0.87%	1.98%	3.72%	3.22%	7.86%	6.57%	4.09%	5.23%	7.52%	3.91%
Return On Investment Capital (ROIC_SIMPLE)	-	2.11%	-	-	-	5.01%	-	-	-	2.98%	1.94%
Cost of Revenue to Revenue	35.78%	33.60%	37.61%	37.29%	36.07%	36.53%	38.99%	37.60%	40.27%	41.10%	43.15%
SG&A Expenses to Revenue	30.48%	37.45%	39.97%	34.32%	29.37%	29.35%	34.67%	33.13%	30.82%	29.40%	29.93%
R&D to Revenue	14.33%	14.27%	16.05%	13.69%	13.48%	13.16%	15.36%	13.54%	13.62%	12.53%	14.02%
Operating Expenses to Revenue	45.05%	51.02%	56.02%	48.01%	42.85%	42.50%	50.03%	46.67%	44.44%	41.93%	43.95%
Earnings before Interest and Taxes (EBIT)	146	124	65	159	240	246	133	188	177	211	154
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	185	160	106	203	289	299	185	240	233	269	214
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	17.33	20.52	20.10	23.72	15.96	23.18	23.85	18.52	13.57	14.45	11.77
Price to Tangible Book Value (P/TBV)	17.81	22.63	21.97	25.94	17.25	25.12	25.52	19.63	14.53	15.37	12.42
Price to Revenue (P/Rev)	11.32	15.03	14.85	15.58	10.63	13.24	14.10	11.46	6.79	7.53	6.43
Price to Earnings (P/E)	129.53	128.19	153.48	139.34	95.99	88.54	83.83	67.61	39.46	52.72	49.86
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	0.77%	0.78%	0.65%	0.72%	1.04%	1.13%	1.19%	1.48%	2.53%	1.90%	2.01%
Enterprise Value to Invested Capital (EV/IC)	21.96	26.28	27.05	29.60	22.41	26.79	29.75	25.35	13.92	15.39	13.16
Enterprise Value to Revenue (EV/Rev)	11.18	14.86	14.66	15.44	10.43	13.16	13.97	11.29	6.78	7.50	6.37
Enterprise Value to EBITDA (EV/EBITDA)	76.01	79.12	76.97	75.41	46.83	53.16	54.47	43.87	28.04	32.63	27.64
Enterprise Value to EBIT (EV/EBIT)	120.52	110.68	106.79	99.95	60.35	67.08	68.25	55.03	36.04	42.65	36.16
Enterprise Value to NOPAT (EV/NOPAT)	126.73	126.64	159.88	155.09	111.14	104.60	99.28	78.84	46.65	62.01	57.04
Enterprise Value to Operating Cash Flow (EV/OCF)	48.56	64.61	58.76	64.02	47.50	63.67	66.22	49.82	32.63	30.56	27.41
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	416.42	417.71	226.66	147.63	137.26	92.43	115.26	100.22	109.85
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.08	0.92	0.88	1.53	1.13	1.18	1.08	1.00	1.23	1.16	1.08
Long-Term Debt to Equity	1.08	0.56	0.54	1.16	1.07	1.18	1.08	1.00	1.23	0.59	0.55
Financial Leverage	-0.35	-0.30	-0.30	-0.28	-0.27	-0.18	-0.24	-0.25	-0.17	-0.10	-0.16
Leverage Ratio	2.44	2.47	2.39	2.76	2.81	2.78	2.68	3.00	3.05	3.06	2.93
Compound Leverage Factor	2.44	2.66	2.39	2.76	2.81	2.78	2.68	3.00	3.05	3.06	2.93
Debt to Total Capital	51.90%	48.03%	46.89%	60.41%	52.99%	54.06%	52.02%	50.04%	55.21%	53.73%	51.88%
Short-Term Debt to Total Capital	0.00%	18.83%	18.39%	14.59%	2.57%	0.00%	0.00%	0.00%	0.00%	26.51%	25.59%
Long-Term Debt to Total Capital	51.90%	29.20%	28.50%	45.82%	50.42%	54.06%	52.02%	50.04%	55.21%	27.22%	26.29%
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	48.10%	51.97%	53.11%	39.59%	47.01%	45.94%	47.98%	49.96%	44.79%	46.27%	48.12%
Debt to EBITDA	4.79	3.60	3.43	4.89	3.37	2.72	2.50	2.41	2.55	2.63	2.56
Net Debt to EBITDA	-0.98	-0.89	-1.03	-0.66	-0.90	-0.32	-0.47	-0.67	-0.06	-0.15	-0.27
Long-Term Debt to EBITDA	4.79	2.19	2.08	3.71	3.21	2.72	2.50	2.41	2.55	1.33	1.30
Debt to NOPAT	7.99	5.77	7.12	10.06	8.00	5.34	4.55	4.33	4.24	5.01	5.27
Net Debt to NOPAT	-1.64	-1.42	-2.15	-1.36	-2.14	-0.64	-0.86	-1.21	-0.09	-0.28	-0.56
Long-Term Debt to NOPAT	7.99	3.51	4.33	7.63	7.61	5.34	4.55	4.33	4.24	2.54	2.67
Altman Z-Score	7.56	9.20	9.34	7.53	6.36	8.34	9.06	7.69	5.20	5.49	4.88
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	3.77	1.99	2.02	2.42	2.80	2.84	2.90	2.82	2.46	1.47	1.50
Quick Ratio	3.26	1.72	1.72	2.12	2.40	2.38	2.43	2.36	2.01	1.22	1.27
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-178	-267	-135	-107	-60	93	-36	38	-227	-50	-131
Operating Cash Flow to CapEx	270.98%	208.66%	208.03%	322.54%	534.13%	254.48%	367.66%	422.69%	179.41%	241.89%	211.26%
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	0.58	0.56	0.57	0.53	0.59	0.62	0.63	0.58	0.61	0.63	0.63
Accounts Receivable Turnover	5.11	4.74	5.12	4.88	5.04	4.29	4.71	4.64	4.42	4.07	3.89
Inventory Turnover	2.95	3.09	3.04	3.03	3.04	3.08	2.96	2.96	2.79	2.89	2.99
Fixed Asset Turnover	3.20	3.13	3.13	3.17	3.27	3.34	3.48	3.48	3.30	3.29	3.35
Accounts Payable Turnover	1.44	1.39	1.37	1.25	1.15	1.19	1.17	1.08	1.02	1.09	1.07
Days Sales Outstanding (DSO)	71.44	76.99	71.33	74.85	72.39	85.01	77.55	78.65	82.51	89.58	93.88
Days Inventory Outstanding (DIO)	123.54	118.03	120.24	120.38	120.18	118.57	123.31	123.39	130.69	126.13	122.26
Days Payable Outstanding (DPO)	254.09	262.15	266.27	291.97	317.27	307.58	311.37	339.32	357.24	335.36	340.25
Cash Conversion Cycle (CCC)	-59.11	-67.13	-74.70	-96.75	-124.70	-104.01	-110.52	-137.28	-144.04	-119.65	-124.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,421	1,646	1,638	1,669	1,584	1,779	1,786	1,751	1,926	1,965	2,009
Invested Capital Turnover	2.18	1.98	1.95	2.04	2.26	2.12	2.22	2.30	2.25	2.15	2.19
Increase / (Decrease) in Invested Capital	280	353	171	200	163	133	148	83	342	186	223
Enterprise Value (EV)	31,215	43,254	44,298	49,383	35,505	47,655	53,129	44,406	26,812	30,239	26,428
Market Capitalization	31,619	43,740	44,894	49,815	36,188	47,945	53,590	45,089	26,865	30,377	26,686
Book Value per Share	$4.65	$5.52	$5.78	$5.42	$5.85	$5.35	$5.76	$6.12	$4.94	$5.38	$5.80
Tangible Book Value per Share	$4.52	$5.00	$5.29	$4.95	$5.41	$4.94	$5.38	$5.77	$4.61	$5.06	$5.50
Total Capital	3,793	4,102	4,205	5,305	4,825	4,503	4,683	4,872	4,419	4,544	4,710
Total Debt	1,969	1,970	1,972	3,204	2,557	2,434	2,436	2,438	2,440	2,441	2,443
Total Long-Term Debt	1,969	1,198	1,199	2,431	2,432	2,434	2,436	2,438	2,440	1,237	1,238
Net Debt	-403	-486	-595	-432	-684	-290	-461	-683	-53	-138	-258
Capital Expenditures (CapEx)	108	64	75	59	50	53	57	66	111	125	87
Debt-free, Cash-free Net Working Capital (DFCFNWC)	126	146	109	71	-96	146	130	5.50	36	-5.60	21
Debt-free Net Working Capital (DFNWC)	2,498	2,602	2,676	3,707	3,144	2,870	3,027	3,126	2,528	2,574	2,722
Net Working Capital (NWC)	2,498	1,830	1,902	2,933	3,020	2,870	3,027	3,126	2,528	1,369	1,517
Net Nonoperating Expense (NNE)	0.90	-5.38	-13	-23	-18	-31	-35	-23	-19	-16	-14
Net Nonoperating Obligations (NNO)	-403	-486	-595	-432	-684	-290	-461	-683	-53	-138	-258
Total Depreciation and Amortization (D&A)	39	36	42	44	48	53	53	52	55	58	60
Debt-free, Cash-free Net Working Capital to Revenue	4.52%	5.01%	3.59%	2.21%	-2.83%	4.03%	3.41%	0.14%	0.91%	-0.14%	0.50%
Debt-free Net Working Capital to Revenue	89.44%	89.43%	88.52%	115.93%	92.39%	79.23%	79.61%	79.45%	63.94%	63.82%	65.62%
Net Working Capital to Revenue	89.44%	62.87%	62.94%	91.73%	88.74%	79.23%	79.61%	79.45%	63.94%	33.95%	36.56%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.26	$0.24	$0.13	$0.30	$0.31	$0.66	$0.38	$0.36	$0.34	$0.38	$0.27
Adjusted Weighted Average Basic Shares Outstanding	389.80M	389.40M	386.70M	386.70M	386.60M	386M	390.20M	399.20M	394.20M	393.60M	391.10M
Adjusted Diluted Earnings per Share	$0.24	$0.24	$0.12	$0.28	$0.29	$0.66	$0.36	$0.35	$0.34	$0.37	$0.27
Adjusted Weighted Average Diluted Shares Outstanding	425.80M	427.50M	418.50M	431.50M	426.80M	425.50M	416.70M	416.80M	410.20M	412.70M	407.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.24	$0.00	$0.00	$0.00	$0.66	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	386.26M	386.41M	387.64M	387.87M	386.37M	385.52M	397.68M	400.73M	390.60M	390.77M	392.11M
Normalized Net Operating Profit after Tax (NOPAT)	102	86	36	93	103	152	71	121	115	136	91
Normalized NOPAT Margin	13.27%	10.60%	4.80%	10.70%	10.58%	14.68%	7.68%	12.02%	11.60%	12.18%	8.82%
Pre Tax Income Margin	19.00%	16.34%	8.70%	18.28%	24.66%	23.80%	14.39%	18.70%	17.84%	18.98%	14.89%
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	228.47%	163.45%	0.00%	208.78%	50.05%	127.18%	0.00%	74.97%	183.61%	130.16%	0.00%

Key Financial Trends

In Q1 2025, DexCom reported continued top-line growth with revenues of $1.036 billion, up 12.5% year-over-year, while maintaining strong profitability and a healthy balance sheet. Here are the key takeaways from the last several quarters:

Revenue growth of 12.5% year-over-year in Q1 2025, driven by increased system sales and recurring sensor revenue.
Gross margin remained high at about 56.9% in Q1 2025, only slightly below the 58.9% in Q4 2024.
Net cash from operating activities of $183.8 million in Q1 2025, demonstrating strong cash generation despite seasonal patterns.
Net debt turned negative at –$258 million in Q1 2025, reflecting a net cash position and solid liquidity.
Return on invested capital (ROIC) stayed robust at 19.3% in Q1 2025, underscoring efficient capital deployment.
Price-to-earnings ratio remains elevated at about 50×, reflecting growth expectations baked into the share price.
Sequential Q1 2025 revenue was down about 7% from Q4 2024, consistent with typical seasonality for DexCom.
R&D spend remains substantial at roughly 14% of revenue in Q1 2025, supporting new product development but weighing on margins.
Free cash flow to the firm was negative $131 million in Q1 2025, impacted by elevated investments in short-term securities and CapEx.
Net income in Q1 2025 of $105 million declined 28% from Q1 2024’s $146 million, driven by higher operating expenses and investments.

Overall, DexCom’s core business continues to grow, with strong margins and cash conversion, but investors should monitor free cash flow trends and valuation multiples as the company invests for future innovation.

06/19/25 04:40 AMAI Generated. May Contain Errors.

Frequently Asked Questions About DexCom's Financials

When does DexCom's fiscal year end?

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

How has DexCom's net income changed over the last 9 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 -$57.60 million in 2015. The previous period was $541.50 million in 2023. View DexCom's forecast to see where analysts expect DexCom to go next.

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 9 years?

Over the last 9 years, DexCom's total revenue changed from $402 million in 2015 to $4.03 billion in 2024, a change of 903.2%.

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 6,089.1% increase since 2015.

How much cash does DexCom have?

In the past 9 years, DexCom's cash and equivalents has ranged from $86.10 million in 2015 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 9 years?

Over the last 9 years, DexCom's book value per share changed from 2.72 in 2015 to 5.38 in 2024, a change of 97.8%.

Related Companies

This page (NASDAQ:DXCM) was last updated on 6/19/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

DexCom (DXCM) Financials

Key Financial Trends

Frequently Asked Questions About DexCom's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

DexCom (DXCM) Financials

Annual Income Statements for DexCom

Quarterly Income Statements for DexCom

Annual Cash Flow Statements for DexCom

Quarterly Cash Flow Statements for DexCom

Annual Balance Sheets for DexCom

Quarterly Balance Sheets for DexCom

Annual Metrics And Ratios for DexCom

Quarterly Metrics And Ratios for DexCom

Key Financial Trends

Frequently Asked Questions About DexCom's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools