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DexCom (DXCM) Financials

DexCom logo
$58.57 -2.57 (-4.20%)
Closing price 05/13/2026 04:00 PM Eastern
Extended Trading
$58.89 +0.32 (+0.55%)
As of 05/13/2026 07:56 PM Eastern
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Annual Income Statements for DexCom

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 2025
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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -58 -66 -50 -127 101 550 217 341 542 576 836
Consolidated Net Income / (Loss)		 -58 -66 -50 -127 101 550 217 341 542 576 836
Net Income / (Loss) Continuing Operations		 -58 -66 -50 -127 101 550 217 341 542 576 836
Total Pre-Tax Income 		-58 -65 -49 -127 104 298 257 391 710 709 1,088
Total Operating Income		 -57 -64 -43 -186 142 300 266 391 598 600 912
Total Gross Profit		 278 378 492 664 932 1,280 1,681 1,883 2,289 2,438 2,802
Total Revenue		 402 573 719 1,032 1,476 1,927 2,449 2,910 3,622 4,033 4,662
Operating Revenue		 402 573 719 1,032 1,476 1,927 2,449 2,910 3,622 4,033 4,662
Total Cost of Revenue		 124 195 226 368 545 647 768 1,027 1,333 1,595 1,860
Operating Cost of Revenue		 124 195 226 368 545 647 768 1,027 1,333 1,595 1,860
Total Operating Expenses		 336 442 535 850 789 981 1,415 1,492 1,691 1,838 1,890
Selling, General & Admin Expense		 198 286 349 433 516 618 811 1,008 1,185 1,286 1,291
Research & Development Expense		 138 156 185 417 274 360 604 484 506 552 599
Total Other Income / (Expense), net		 -0.40 -1.00 -6.10 60 -38 -1.60 -9.00 -0.40 113 109 177
Other Income / (Expense), net		 - - 6.70 2.40 26 16 -9.00 -0.40 113 109 177
Income Tax Expense		 0.10 0.70 1.60 0.60 3.10 -252 40 50 169 133 252
Basic Earnings per Share		 ($0.72) ($0.78) ($0.58) ($1.44) $1.11 $1.46 $0.56 $0.88 $1.40 $1.46 $2.14
Weighted Average Basic Shares Outstanding		 79.80M 83.60M 86.30M 88.20M 91.10M 377.50M 386.90M 389.40M 386M 393.60M 390.20M
Diluted Earnings per Share		 ($0.72) ($0.78) ($0.58) ($1.44) $1.10 $1.33 $0.53 $0.82 $1.30 $1.42 $2.09
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 405.50M
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 384.86M

Quarterly Income Statements for DexCom

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 121 256 146 144 135 152 105 180 284 267 200
Consolidated Net Income / (Loss)		 121 256 146 144 135 152 105 180 284 267 200
Net Income / (Loss) Continuing Operations		 121 256 146 144 135 152 105 180 284 267 200
Total Pre-Tax Income 		240 246 133 188 177 211 154 241 352 341 270
Total Operating Income		 206 217 101 158 152 189 134 213 243 323 255
Total Gross Profit		 623 657 562 627 594 656 589 689 731 793 750
Total Revenue		 975 1,035 921 1,004 994 1,114 1,036 1,157 1,209 1,260 1,192
Operating Revenue		 975 1,035 921 1,004 994 1,114 1,036 1,157 1,209 1,260 1,192
Total Cost of Revenue		 352 378 359 378 400 458 447 468 478 467 442
Operating Cost of Revenue		 352 378 359 378 400 458 447 468 478 467 442
Total Operating Expenses		 418 440 461 469 442 467 455 476 489 470 495
Selling, General & Admin Expense		 286 304 319 333 306 327 310 328 331 322 350
Research & Development Expense		 131 136 142 136 135 140 145 148 158 148 145
Total Other Income / (Expense), net		 35 29 31 30 25 22 21 29 110 18 14
Other Income / (Expense), net		 35 29 31 30 25 22 21 29 110 18 14
Income Tax Expense		 120 -10 -14 44 43 60 49 61 69 73 70
Basic Earnings per Share		 $0.31 $0.66 $0.38 $0.36 $0.34 $0.38 $0.27 $0.46 $0.73 $0.68 $0.52
Weighted Average Basic Shares Outstanding		 386.60M 386M 390.20M 399.20M 394.20M 393.60M 391.10M 392.10M 391.10M 390.20M 385.10M
Diluted Earnings per Share		 $0.29 $0.66 $0.36 $0.35 $0.34 $0.37 $0.27 $0.45 $0.70 $0.67 $0.51
Weighted Average Diluted Shares Outstanding		 426.80M 425.50M 416.70M 416.80M 410.20M 412.70M 407.50M 408.20M 407.40M 405.50M 393.60M
Weighted Average Basic & Diluted Shares Outstanding		 386.37M 385.52M 397.68M 400.73M 390.60M 390.77M 392.11M 392.16M 390.02M 384.86M 385.87M

Annual Cash Flow Statements for DexCom

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 2025
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 12/31/2025
Net Change in Cash & Equivalents		 14 8.40 347 694 -691 372 235 -410 -76 40 312
Net Cash From Operating Activities		 49 56 92 123 315 476 443 670 749 990 1,441
Net Cash From Continuing Operating Activities		 49 56 92 123 310 476 443 670 749 990 1,441
Net Income / (Loss) Continuing Operations		 -58 -66 -50 -127 101 550 217 341 542 576 836
Consolidated Net Income / (Loss)		 -58 -66 -50 -127 101 550 217 341 542 576 836
Depreciation Expense		 11 15 16 29 49 67 102 156 186 218 252
Non-Cash Adjustments To Reconcile Net Income		 121 113 114 264 154 140 240 167 73 131 67
Changes in Operating Assets and Liabilities, net		 -25 -6.30 2.60 -43 6.30 -281 -116 5.10 -52 65 286
Net Cash From Investing Activities		 -52 -56 -144 -140 -1,015 -1,018 -216 -522 -507 -208 536
Net Cash From Continuing Investing Activities		 -52 -56 -144 -140 -1,015 -1,018 -216 -522 -507 -208 536
Purchase of Property, Plant & Equipment		 -33 -56 -66 -67 -180 -199 -389 -365 -237 -359 -364
Purchase of Investments		 -45 -39 -172 -453 -2,030 -3,058 -2,473 -2,281 -3,220 -2,658 -1,266
Sale and/or Maturity of Investments		 28 39 93 392 1,196 2,251 2,666 2,128 2,947 2,824 2,165
Other Investing Activities, net		 - - - -1.00 -1.20 -11 10 0.20 1.90 -16 0.60
Net Cash From Financing Activities		 17 8.10 399 710 11 912 10 -553 -319 -735 -1,686
Net Cash From Continuing Financing Activities		 17 8.10 399 710 11 912 10 -553 -319 -735 -1,686
Repayment of Debt		 -2.30 -2.30 -75 -1.90 -1.20 -9.40 -9.90 -17 -786 -13 -1,215
Repurchase of Common Equity		 - 0.00 0.00 -100 - 0.00 0.00 -558 -689 -750 -500
Issuance of Debt		 0.00 0.00 464 837 0.00 1,189 0.00 0.00 1,231 0.00 0.00
Issuance of Common Equity		 19 10 10 195 12 15 20 23 27 28 28
Other Financing Activities, net		 - 0.00 0.00 -219 - - 0.00 0.00 -101 0.00 0.00
Effect of Exchange Rate Changes		 0.00 0.00 - - -0.70 2.10 -1.40 -5.80 1.50 -7.40 22
Cash Interest Paid		 0.30 0.10 2.40 3.60 10 11 12 12 12 11 11
Cash Income Taxes Paid		 0.10 0.10 1.40 2.30 4.80 3.60 17 114 212 198 94

Quarterly Cash Flow Statements for DexCom

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -551 -77 285 88 -318 -15 299 254 677 -918 199
Net Cash From Operating Activities		 269 134 209 279 200 301 184 303 660 294 526
Net Cash From Continuing Operating Activities		 269 134 209 279 200 301 184 303 660 294 526
Net Income / (Loss) Continuing Operations		 121 256 146 144 135 152 105 180 284 267 200
Consolidated Net Income / (Loss)		 121 256 146 144 135 152 105 180 284 267 200
Depreciation Expense		 48 53 53 52 55 58 60 63 64 65 67
Non-Cash Adjustments To Reconcile Net Income		 22 1.40 33 31 5.40 61 24 47 -37 34 44
Changes in Operating Assets and Liabilities, net		 78 -177 -23 53 4.20 31 -5.40 14 350 -72 215
Net Cash From Investing Activities		 -180 415 75 -189 210 -304 100 -64 193 307 -299
Net Cash From Continuing Investing Activities		 -180 415 75 -189 210 -304 100 -64 193 307 -299
Purchase of Property, Plant & Equipment		 -50 -53 -57 -66 -111 -125 -87 -94 -81 -102 -77
Purchase of Investments		 -798 -272 -992 -784 -307 -574 -463 -608 -194 -1.20 -690
Sale and/or Maturity of Investments		 671 719 1,122 667 631 405 650 639 466 410 468
Other Investing Activities, net		 -2.50 20 2.30 -5.40 -2.20 -10 -0.50 - 1.00 0.10 0.00
Net Cash From Financing Activities		 -637 -632 4.70 -1.40 -737 -1.60 13 -1.70 -175 -1,522 -25
Net Cash From Continuing Financing Activities		 -637 -632 4.70 -1.40 -737 -1.60 13 -1.70 -175 -1,522 -25
Repayment of Debt		 -652 -132 -8.70 -1.40 -1.30 -1.60 -1.70 -1.70 -1.70 -1,209 -1.90
Issuance of Common Equity		 14 - 13 - 15 - 14 - 14 - 13
Other Financing Activities, net		 - - - - - - 0.00 - - - -36
Effect of Exchange Rate Changes		 -3.50 6.10 -3.80 -1.00 8.60 -11 2.30 17 -1.10 3.80 -2.80

Annual Balance Sheets for DexCom

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 2025
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 12/31/2025
Total Assets		 292 403 904 1,916 2,395 4,291 4,933 5,392 6,265 6,485 6,340
Total Current Assets		 231 280 745 1,700 1,969 3,425 3,684 3,669 4,426 4,301 4,033
Cash & Equivalents		 86 95 442 1,137 446 818 1,053 642 566 606 918
Short-Term Investments		 29 29 107 249 1,087 1,890 1,679 1,814 2,158 1,973 1,081
Accounts Receivable		 74 102 134 227 286 429 514 713 974 1,006 1,216
Inventories, net		 35 45 45 71 120 235 357 307 560 543 629
Prepaid Expenses		 6.80 9.20 17 17 30 54 82 193 168 174 189
Plant, Property, & Equipment, net		 55 109 146 183 321 515 802 1,056 1,113 1,340 1,560
Total Noncurrent Assets		 6.00 13 14 33 104 350 447 667 726 843 747
Goodwill		 3.70 11 12 19 19 19 27 26 25 23 24
Intangible Assets		 2.20 - - - - - 32 173 135 103 71
Noncurrent Deferred & Refundable Income Taxes		 - - - - 0.00 216 291 341 419 481 296
Other Noncurrent Operating Assets		 0.10 2.10 1.70 15 86 115 99 127 146 236 356
Total Liabilities & Shareholders' Equity		 292 403 904 1,916 2,395 4,291 4,933 5,392 6,265 6,485 6,340
Total Liabilities		 71 119 485 1,253 1,512 2,464 2,891 3,260 4,196 4,382 3,594
Total Current Liabilities		 67 102 139 222 360 614 721 1,839 1,556 2,932 2,143
Accounts Payable		 39 68 87 147 256 481 573 902 1,346 1,585 1,944
Current Employee Benefit Liabilities		 25 33 49 72 89 114 125 134 171 112 169
Other Current Liabilities		 - - - 0.00 14 17 21 21 21 31 29
Total Noncurrent Liabilities		 3.90 17 346 1,030 1,152 1,850 2,170 1,421 2,640 1,450 1,451
Long-Term Debt		 - 0.00 328 1,010 1,060 1,667 1,982 1,198 2,434 1,237 1,241
Other Noncurrent Operating Liabilities		 3.90 17 18 20 93 183 189 223 206 213 211
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		 221 284 419 663 883 1,827 2,042 2,132 2,069 2,103 2,746
Total Preferred & Common Equity		 221 284 419 663 883 1,827 2,042 2,132 2,069 2,103 2,746
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		 221 284 419 663 883 1,827 2,042 2,132 2,069 2,103 2,746
Common Stock		 777 906 1,094 1,561 1,676 2,125 2,109 2,259 3,515 2,094 2,282
Retained Earnings		 -555 -621 -672 -799 -696 -202 139 480 1,021 1,598 2,434
Treasury Stock		 - - 0.00 -100 -100 -100 -206 -595 -2,451 -1,581 -2,085
Accumulated Other Comprehensive Income / (Loss)		 -0.30 -1.00 -2.60 1.50 2.30 3.20 0.50 -12 -17 -8.00 115

Quarterly Balance Sheets for DexCom

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 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 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 9/30/2025 3/31/2026
Total Assets		 6,821 6,596 6,265 6,482 6,799 6,354 6,485 6,752 7,327 7,500 6,633
Total Current Assets		 5,003 4,698 4,426 4,621 4,848 4,263 4,301 4,554 5,030 5,220 4,332
Cash & Equivalents		 1,195 644 566 851 939 621 606 905 1,159 1,836 1,118
Short-Term Investments		 2,441 2,597 2,158 2,046 2,182 1,871 1,973 1,797 1,770 1,486 1,297
Accounts Receivable		 751 786 974 979 945 1,002 1,006 1,155 1,349 1,110 1,089
Inventories, net		 421 499 560 589 570 586 543 538 571 604 694
Prepaid Expenses		 195 174 168 156 212 182 174 159 181 184 134
Plant, Property, & Equipment, net		 1,078 1,079 1,113 1,109 1,183 1,319 1,340 1,365 0.00 1,471 1,560
Total Noncurrent Assets		 740 819 726 753 768 772 843 833 2,297 809 742
Goodwill		 26 25 25 23 23 24 23 23 24 24 24
Intangible Assets		 154 145 135 123 115 106 103 95 87 79 63
Noncurrent Deferred & Refundable Income Taxes		 417 501 419 461 476 487 481 487 496 376 296
Other Noncurrent Operating Assets		 143 148 146 146 154 156 236 228 1,689 331 359
Total Liabilities & Shareholders' Equity		 6,821 6,596 6,265 6,482 6,799 6,354 6,485 6,752 7,327 7,500 6,633
Total Liabilities		 4,720 4,328 4,196 4,235 4,365 4,375 4,382 4,485 4,754 4,774 3,676
Total Current Liabilities		 2,070 1,679 1,556 1,594 1,722 1,735 2,932 3,037 3,309 3,336 2,224
Accounts Payable		 1,157 1,373 1,346 1,447 1,570 1,593 1,585 1,691 1,944 1,932 2,074
Current Employee Benefit Liabilities		 109 151 171 111 116 106 112 111 129 170 122
Other Current Liabilities		 22 21 21 21 22 22 23 23 23 24 28
Total Noncurrent Liabilities		 2,651 2,650 2,640 2,641 2,643 2,640 1,450 1,448 1,445 1,438 1,453
Long-Term Debt		 2,431 2,432 2,434 2,436 2,438 2,440 1,237 1,238 1,239 1,240 1,242
Other Noncurrent Operating Liabilities		 220 217 206 205 205 201 213 210 206 198 211
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		 2,100 2,268 2,069 2,247 2,434 1,979 2,103 2,267 2,573 2,726 2,957
Total Preferred & Common Equity		 2,100 2,268 2,069 2,247 2,434 1,979 2,103 2,267 2,573 2,726 2,957
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		 2,100 2,268 2,069 2,247 2,434 1,979 2,103 2,267 2,573 2,726 2,957
Common Stock		 2,269 3,618 3,515 2,511 1,993 2,051 2,094 2,143 2,188 2,247 2,338
Retained Earnings		 644 765 1,021 1,168 1,311 1,446 1,598 1,703 1,883 2,167 2,633
Treasury Stock		 -784 -2,080 -2,451 - -832 -1,581 -1,581 -1,581 - -1,769 -2,121
Accumulated Other Comprehensive Income / (Loss)		 -29 -36 -17 -37 -38 63 -8.00 2.20 84 82 106

Annual Metrics And Ratios for DexCom

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 2025
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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 55.09% 42.61% 25.33% 43.58% 43.08% 30.54% 27.08% 18.84% 24.49% 11.34% 15.60%
EBITDA Growth		 -251.91% -5.86% 78.89% -1,402.91% 240.44% 76.04% -6.25% 52.37% 63.97% 3.38% 44.62%
EBIT Growth		 -165.58% -11.91% 43.98% -413.69% 191.73% 87.08% -18.63% 52.18% 81.78% -0.20% 53.51%
NOPAT Growth		 -165.58% -11.91% 33.49% -338.35% 205.87% 300.28% -59.38% 52.14% 33.39% 7.03% 43.68%
Net Income Growth		 -157.14% -13.89% 23.48% -153.19% 179.54% 443.72% -60.54% 57.31% 58.70% 6.41% 45.14%
EPS Growth		 -140.00% -8.33% 25.64% -148.28% 176.39% 443.72% -60.54% 54.72% 58.54% 9.23% 47.18%
Operating Cash Flow Growth		 107.63% 14.69% 63.70% 33.91% 155.28% 51.22% -6.96% 51.30% 11.80% 32.20% 45.60%
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% 124.38%
Invested Capital Growth		 79.90% 47.83% 23.92% 45.16% 42.01% 92.18% 64.47% 27.32% 8.07% 10.45% 1.20%
Revenue Q/Q Growth		 13.08% 7.58% 7.45% 12.79% 9.24% 5.83% 5.58% 4.19% 6.44% 2.00% 3.24%
EBITDA Q/Q Growth		 1.91% -16.47% 73.86% -616.00% 369.06% 0.63% -22.12% 33.11% 18.24% -3.10% 11.37%
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% 13.49%
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% 19.87%
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% 16.04%
EPS Q/Q Growth		 0.00% -18.18% -1.75% -400.00% 158.51% 137.86% -65.76% 30.16% 32.65% -17.92% 16.76%
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% -0.51%
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% 2.58%
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% 7.42%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 69.25% 66.00% 68.49% 64.36% 63.11% 66.44% 68.63% 64.72% 63.19% 60.46% 60.10%
EBITDA Margin		 -11.47% -8.51% -1.43% -15.01% 14.73% 19.86% 14.65% 18.79% 24.75% 22.98% 28.75%
Operating Margin		 -14.20% -11.15% -5.92% -18.06% 9.64% 15.54% 10.86% 13.44% 16.50% 14.88% 19.56%
EBIT Margin		 -14.20% -11.15% -4.98% -17.83% 11.43% 16.38% 10.49% 13.43% 19.61% 17.58% 23.35%
Profit (Net Income) Margin		 -14.33% -11.44% -6.99% -12.32% 6.85% 28.53% 8.86% 11.73% 14.95% 14.29% 17.94%
Tax Burden Percent		 100.17% 101.08% 103.29% 100.47% 97.03% 184.53% 84.46% 87.31% 76.22% 81.27% 76.84%
Interest Burden Percent		 100.70% 101.56% 135.75% 68.79% 61.77% 94.39% 100.00% 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% 23.16%
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% 35.45%
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% 5.15%
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% -0.95%
Return on Equity (ROE)		 -31.88% -25.98% -14.28% -23.48% 13.08% 40.58% 11.21% 16.35% 25.78% 27.63% 34.50%
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% 34.25%
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% 16.97%
Return on Assets (ROA)		 -24.17% -18.88% -7.68% -9.01% 4.69% 16.44% 4.70% 6.61% 9.29% 9.04% 13.04%
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% 34.50%
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% 0.00%
Net Operating Profit after Tax (NOPAT)		 -40 -45 -30 -130 138 553 225 342 456 488 701
NOPAT Margin		 -9.94% -7.80% -4.14% -12.64% 9.35% 28.68% 9.17% 11.74% 12.58% 12.09% 15.03%
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% 30.30%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 8.33% 10.12% 10.73% 17.57%
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% 39.90%
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% 27.69%
R&D to Revenue		 34.20% 27.23% 25.80% 40.46% 18.53% 18.68% 24.68% 16.64% 13.96% 13.70% 12.85%
Operating Expenses to Revenue		 83.46% 77.15% 74.41% 82.42% 53.47% 50.90% 57.78% 51.27% 46.69% 45.58% 40.54%
Earnings before Interest and Taxes (EBIT)		 -57 -64 -36 -184 169 316 257 391 710 709 1,088
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -46 -49 -10 -155 217 383 359 547 896 927 1,340
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 9.43
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 9.76
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 5.55
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 30.95
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% 2.02% 6.19% 1.67% 0.78% 1.13% 1.90% 3.23%
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 12.64
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 5.39
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 18.75
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 23.09
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 35.87
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 17.44
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 37.12
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 0.45
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 0.45
Financial Leverage		 -0.53 -0.47 -0.49 -0.55 -0.55 -0.56 -0.46 -0.30 -0.18 -0.10 -0.18
Leverage Ratio		 1.32 1.38 1.86 2.60 2.79 2.47 2.38 2.47 2.78 3.06 2.65
Compound Leverage Factor		 1.33 1.40 2.52 1.79 1.72 2.33 2.38 2.47 2.78 3.06 2.65
Debt to Total Capital		 1.03% 0.00% 43.86% 60.37% 54.56% 47.72% 49.25% 48.03% 54.06% 53.73% 31.12%
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% 0.00%
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% 31.12%
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		 98.97% 100.00% 56.14% 39.63% 45.44% 52.28% 50.75% 51.97% 45.94% 46.27% 68.88%
Debt to EBITDA		 -0.05 0.00 -31.81 -6.53 4.87 4.36 5.52 3.60 2.72 2.63 0.93
Net Debt to EBITDA		 2.45 0.00 21.46 2.42 -2.18 -2.72 -2.09 -0.89 -0.32 -0.15 -0.57
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 0.93
Debt to NOPAT		 -0.06 0.00 -11.01 -7.75 7.68 3.02 8.83 5.77 5.34 5.01 1.77
Net Debt to NOPAT		 2.82 0.00 7.43 2.88 -3.43 -1.88 -3.34 -1.42 -0.64 -0.28 -1.08
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 1.77
Altman Z-Score		 12.85 5.63 1.97 1.84 3.23 3.57 4.13 9.36 8.59 5.74 6.52
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		 3.46 2.73 5.36 7.64 5.47 5.58 5.11 1.99 2.84 1.47 1.88
Quick Ratio		 2.83 2.20 4.92 7.25 5.05 5.11 4.50 1.72 2.38 1.22 1.50
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -88 -97 -68 -220 17 176 -282 -12 323 302 677
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% 396.34%
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 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 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 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 0.73
Accounts Receivable Turnover		 6.90 6.52 6.09 5.72 5.75 5.39 5.19 4.74 4.29 4.07 4.20
Inventory Turnover		 4.83 4.84 5.00 6.35 5.72 3.65 2.59 3.09 3.08 2.89 3.18
Fixed Asset Turnover		 9.36 6.99 5.64 6.28 5.85 4.61 3.72 3.13 3.34 3.29 3.22
Accounts Payable Turnover		 4.17 3.64 2.92 3.14 2.70 1.75 1.46 1.39 1.19 1.09 1.05
Days Sales Outstanding (DSO)		 52.89 55.96 59.94 63.86 63.43 67.71 70.27 76.99 85.01 89.58 86.98
Days Inventory Outstanding (DIO)		 75.60 75.47 73.03 57.52 63.85 100.06 140.68 118.03 118.57 126.13 114.96
Days Payable Outstanding (DPO)		 87.56 100.19 125.19 116.29 135.24 208.16 250.49 262.15 307.58 335.36 346.25
Cash Conversion Cycle (CCC)		 40.93 31.24 7.79 5.10 -7.96 -40.39 -39.54 -67.13 -104.01 -119.65 -144.32
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 108 160 198 288 409 786 1,293 1,646 1,779 1,965 1,988
Invested Capital Turnover		 4.77 4.27 4.01 4.24 4.24 3.22 2.36 1.98 2.12 2.15 2.36
Increase / (Decrease) in Invested Capital		 48 52 38 90 121 377 507 353 133 186 24
Enterprise Value (EV)		 1,552 1,138 1,026 2,286 4,532 7,835 12,261 43,254 47,655 30,239 25,128
Market Capitalization		 1,665 1,262 1,247 2,661 5,005 8,876 13,011 43,740 47,945 30,377 25,885
Book Value per Share		 $2.72 $3.36 $4.83 $7.47 $9.64 $19.02 $21.07 $5.52 $5.35 $5.38 $7.04
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 $6.80
Total Capital		 224 284 747 1,674 1,942 3,494 4,024 4,102 4,503 4,544 3,987
Total Debt		 2.30 0.00 328 1,010 1,060 1,667 1,982 1,970 2,434 2,441 1,241
Total Long-Term Debt		 0.00 0.00 328 1,010 1,060 1,667 1,982 1,198 2,434 1,237 1,241
Net Debt		 -113 -124 -221 -375 -474 -1,041 -749 -486 -290 -138 -758
Capital Expenditures (CapEx)		 33 56 66 67 180 199 389 365 237 359 364
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 52 54 57 92 76 103 232 146 146 -5.60 -108
Debt-free Net Working Capital (DFNWC)		 167 178 606 1,477 1,609 2,811 2,964 2,602 2,870 2,574 1,891
Net Working Capital (NWC)		 164 178 606 1,477 1,609 2,811 2,964 1,830 2,870 1,369 1,891
Net Nonoperating Expense (NNE)		 18 21 20 -3.31 37 2.95 7.60 0.35 -86 -89 -136
Net Nonoperating Obligations (NNO)		 -113 -124 -221 -375 -474 -1,041 -749 -486 -290 -138 -758
Total Depreciation and Amortization (D&A)		 11 15 26 29 49 67 102 156 186 218 252
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% -2.31%
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% 40.56%
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% 40.56%
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 $2.14
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 390.20M
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 $2.09
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 405.50M
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 $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 384.86M
Normalized Net Operating Profit after Tax (NOPAT)		 -40 -45 -30 -130 138 210 225 342 456 488 701
Normalized NOPAT Margin		 -9.94% -7.80% -4.14% -12.64% 9.35% 10.88% 9.17% 11.74% 12.58% 12.09% 15.03%
Pre Tax Income Margin		 -14.30% -11.32% -6.76% -12.26% 7.06% 15.46% 10.49% 13.43% 19.61% 17.58% 23.35%
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 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 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 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 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% -78.68% 0.00% 0.00% 0.00% 163.45% 127.18% 130.16% 59.79%

Quarterly Metrics And Ratios for DexCom

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 384,864,842.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 384,864,842.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.52
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 26.69% 26.90% 24.21% 15.26% 1.97% 7.64% 12.49% 15.21% 21.64% 13.12% 15.05%
EBITDA Growth		 55.66% 86.22% 74.36% 18.18% -19.37% -9.91% 15.84% 26.76% 78.73% 50.84% 57.07%
EBIT Growth		 64.43% 98.39% 105.43% 17.89% -26.21% -14.18% 16.45% 28.38% 98.59% 61.24% 74.66%
NOPAT Growth		 1.06% 161.27% 214.09% 29.54% 11.78% -39.94% -18.24% 31.32% 69.39% 86.86% 106.93%
Net Income Growth		 19.27% 179.19% 201.23% 23.81% 11.52% -40.81% -28.01% 25.30% 110.85% 76.20% 89.28%
EPS Growth		 20.83% 175.00% 200.00% 25.00% 17.24% -43.94% -25.00% 28.57% 105.88% 81.08% 88.89%
Operating Cash Flow Growth		 -8.19% 0.83% 34.62% 46.82% -25.89% 125.60% -12.14% 8.45% 230.78% -2.46% 185.96%
Free Cash Flow Firm Growth		 66.43% 134.86% 73.07% 135.45% -280.35% -154.07% -260.97% -571.54% 219.44% 557.05% 415.13%
Invested Capital Growth		 11.45% 8.07% 9.04% 4.96% 21.59% 10.45% 12.47% 19.26% -3.92% 1.20% -11.20%
Revenue Q/Q Growth		 11.90% 6.10% -10.97% 9.04% -1.01% 12.00% -6.96% 11.69% 4.51% 4.16% -5.37%
EBITDA Q/Q Growth		 42.17% 3.50% -38.27% 29.68% -3.00% 15.64% -20.36% 41.90% 36.76% -2.40% -17.07%
EBIT Q/Q Growth		 50.91% 2.41% -46.40% 41.74% -5.54% 19.11% -26.98% 56.25% 46.12% -3.29% -20.90%
NOPAT Q/Q Growth		 10.71% 118.84% -50.53% 8.08% -4.47% 17.59% -32.66% 73.60% 23.21% 29.72% -25.42%
Net Income Q/Q Growth		 4.14% 112.34% -42.88% -1.98% -6.20% 12.70% -30.52% 70.59% 57.84% -5.81% -25.36%
EPS Q/Q Growth		 3.57% 127.59% -45.45% -2.78% -2.86% 8.82% -27.03% 66.67% 55.56% -4.29% -23.88%
Operating Cash Flow Q/Q Growth		 41.46% -50.37% 56.59% 33.56% -28.60% 51.08% -39.02% 64.85% 117.79% -55.45% 78.78%
Free Cash Flow Firm Q/Q Growth		 44.28% 255.98% -139.13% 204.22% -697.88% 77.83% -161.27% -36.14% 251.44% -15.15% 80.14%
Invested Capital Q/Q Growth		 -5.06% 12.28% 0.40% -1.93% 9.99% 1.99% 2.23% 4.00% -11.39% 7.42% -10.30%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 63.93% 63.47% 61.01% 62.40% 59.73% 58.90% 56.85% 59.53% 60.48% 62.93% 62.95%
EBITDA Margin		 29.60% 28.87% 20.09% 23.89% 23.41% 24.17% 20.69% 26.28% 34.39% 32.22% 28.24%
Operating Margin		 21.08% 20.97% 10.98% 15.73% 15.29% 16.96% 12.91% 18.37% 20.05% 25.64% 21.42%
EBIT Margin		 24.66% 23.80% 14.39% 18.70% 17.84% 18.98% 14.89% 20.84% 29.13% 27.05% 22.61%
Profit (Net Income) Margin		 12.38% 24.78% 15.90% 14.29% 13.54% 13.62% 10.17% 15.54% 23.47% 21.22% 16.74%
Tax Burden Percent		 50.21% 104.10% 110.49% 76.41% 75.87% 71.79% 68.31% 74.57% 80.56% 78.46% 74.03%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 49.79% -4.10% -10.49% 23.59% 24.13% 28.21% 31.69% 25.43% 19.44% 21.54% 25.97%
Return on Invested Capital (ROIC)		 23.96% 46.17% 26.94% 27.66% 26.13% 26.24% 19.27% 30.69% 38.63% 47.46% 40.29%
ROIC Less NNEP Spread (ROIC-NNEP)		 20.74% 38.31% 20.37% 23.58% 20.90% 18.73% 15.36% 27.05% 19.56% 44.36% 38.82%
Return on Net Nonoperating Assets (RNNOA)		 -5.51% -7.08% -4.80% -5.80% -3.62% -1.92% -2.45% -6.31% -3.86% -8.19% -10.64%
Return on Equity (ROE)		 18.46% 39.10% 22.14% 21.87% 22.51% 24.32% 16.83% 24.39% 34.77% 39.26% 29.65%
Cash Return on Invested Capital (CROIC)		 10.42% 18.85% 22.61% 28.10% 13.25% 16.12% 12.68% 8.51% 34.94% 34.25% 54.00%
Operating Return on Assets (OROA)		 14.60% 14.79% 9.12% 10.80% 10.90% 12.01% 9.34% 12.69% 18.99% 19.67% 16.28%
Return on Assets (ROA)		 7.33% 15.40% 10.07% 8.26% 8.27% 8.62% 6.38% 9.46% 15.30% 15.43% 12.05%
Return on Common Equity (ROCE)		 18.46% 39.10% 22.14% 21.87% 22.51% 24.32% 16.83% 24.39% 34.77% 39.26% 29.65%
Return on Equity Simple (ROE_SIMPLE)		 16.62% 0.00% 28.45% 27.40% 34.40% 0.00% 23.61% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 103 226 112 121 115 136 91 159 195 253 189
NOPAT Margin		 10.58% 21.83% 12.13% 12.02% 11.60% 12.18% 8.82% 13.70% 16.15% 20.12% 15.86%
Net Nonoperating Expense Percent (NNEP)		 3.22% 7.86% 6.57% 4.09% 5.23% 7.52% 3.91% 3.64% 19.06% 3.10% 1.47%
Return On Investment Capital (ROIC_SIMPLE)		 - 5.01% - - - 2.98% 1.94% 3.16% 3.78% 6.36% 4.50%
Cost of Revenue to Revenue		 36.07% 36.53% 38.99% 37.60% 40.27% 41.10% 43.15% 40.47% 39.52% 37.07% 37.05%
SG&A Expenses to Revenue		 29.37% 29.35% 34.67% 33.13% 30.82% 29.40% 29.93% 28.35% 27.40% 25.52% 29.34%
R&D to Revenue		 13.48% 13.16% 15.36% 13.54% 13.62% 12.53% 14.02% 12.81% 13.02% 11.77% 12.19%
Operating Expenses to Revenue		 42.85% 42.50% 50.03% 46.67% 44.44% 41.93% 43.95% 41.15% 40.43% 37.29% 41.53%
Earnings before Interest and Taxes (EBIT)		 240 246 133 188 177 211 154 241 352 341 270
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 289 299 185 240 233 269 214 304 416 406 337
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 15.96 23.18 23.85 18.52 13.57 14.45 11.77 13.30 9.68 9.43 8.17
Price to Tangible Book Value (P/TBV)		 17.25 25.12 25.52 19.63 14.53 15.37 12.42 13.90 10.06 9.76 8.42
Price to Revenue (P/Rev)		 10.63 13.24 14.10 11.46 6.79 7.53 6.43 7.96 5.84 5.55 5.02
Price to Earnings (P/E)		 95.99 88.54 83.83 67.61 39.46 52.72 49.86 59.89 36.61 30.95 25.98
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		 1.04% 1.13% 1.19% 1.48% 2.53% 1.90% 2.01% 1.67% 2.73% 3.23% 3.85%
Enterprise Value to Invested Capital (EV/IC)		 22.41 26.79 29.75 25.35 13.92 15.39 13.16 16.15 13.78 12.64 12.89
Enterprise Value to Revenue (EV/Rev)		 10.43 13.16 13.97 11.29 6.78 7.50 6.37 7.85 5.65 5.39 4.77
Enterprise Value to EBITDA (EV/EBITDA)		 46.83 53.16 54.47 43.87 28.04 32.63 27.64 33.07 21.20 18.75 15.72
Enterprise Value to EBIT (EV/EBIT)		 60.35 67.08 68.25 55.03 36.04 42.65 36.16 43.03 26.60 23.09 19.11
Enterprise Value to NOPAT (EV/NOPAT)		 111.14 104.60 99.28 78.84 46.65 62.01 57.04 67.37 43.65 35.87 28.79
Enterprise Value to Operating Cash Flow (EV/OCF)		 47.50 63.67 66.22 49.82 32.63 30.56 27.41 34.16 17.62 17.44 12.90
Enterprise Value to Free Cash Flow (EV/FCFF)		 226.66 147.63 137.26 92.43 115.26 100.22 109.85 206.41 38.66 37.12 22.46
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.13 1.18 1.08 1.00 1.23 1.16 1.08 0.95 0.90 0.45 0.42
Long-Term Debt to Equity		 1.07 1.18 1.08 1.00 1.23 0.59 0.55 0.48 0.45 0.45 0.42
Financial Leverage		 -0.27 -0.18 -0.24 -0.25 -0.17 -0.10 -0.16 -0.23 -0.20 -0.18 -0.27
Leverage Ratio		 2.81 2.78 2.68 3.00 3.05 3.06 2.93 2.82 2.94 2.65 2.56
Compound Leverage Factor		 2.81 2.78 2.68 3.00 3.05 3.06 2.93 2.82 2.94 2.65 2.56
Debt to Total Capital		 52.99% 54.06% 52.02% 50.04% 55.21% 53.73% 51.88% 48.72% 47.30% 31.12% 29.58%
Short-Term Debt to Total Capital		 2.57% 0.00% 0.00% 0.00% 0.00% 26.51% 25.59% 24.04% 23.33% 0.00% 0.00%
Long-Term Debt to Total Capital		 50.42% 54.06% 52.02% 50.04% 55.21% 27.22% 26.29% 24.69% 23.97% 31.12% 29.58%
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		 47.01% 45.94% 47.98% 49.96% 44.79% 46.27% 48.12% 51.28% 52.70% 68.88% 70.42%
Debt to EBITDA		 3.37 2.72 2.50 2.41 2.55 2.63 2.56 2.40 2.03 0.93 0.85
Net Debt to EBITDA		 -0.90 -0.32 -0.47 -0.67 -0.06 -0.15 -0.27 -0.47 -0.73 -0.57 -0.80
Long-Term Debt to EBITDA		 3.21 2.72 2.50 2.41 2.55 1.33 1.30 1.21 1.03 0.93 0.85
Debt to NOPAT		 8.00 5.34 4.55 4.33 4.24 5.01 5.27 4.88 4.19 1.77 1.55
Net Debt to NOPAT		 -2.14 -0.64 -0.86 -1.21 -0.09 -0.28 -0.56 -0.97 -1.50 -1.08 -1.47
Long-Term Debt to NOPAT		 7.61 5.34 4.55 4.33 4.24 2.54 2.67 2.47 2.12 1.77 1.55
Altman Z-Score		 6.36 8.34 9.06 7.69 5.20 5.49 4.88 5.66 4.78 6.13 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		 2.80 2.84 2.90 2.82 2.46 1.47 1.50 1.52 1.56 1.88 1.95
Quick Ratio		 2.40 2.38 2.43 2.36 2.01 1.22 1.27 1.29 1.33 1.50 1.58
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -60 93 -36 38 -227 -50 -131 -179 271 230 414
Operating Cash Flow to CapEx		 534.13% 254.48% 367.66% 422.69% 179.41% 241.89% 211.26% 322.00% 819.75% 288.52% 686.16%
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		 0.59 0.62 0.63 0.58 0.61 0.63 0.63 0.61 0.65 0.73 0.72
Accounts Receivable Turnover		 5.04 4.29 4.71 4.64 4.42 4.07 3.89 3.75 4.28 4.20 4.29
Inventory Turnover		 3.04 3.08 2.96 2.96 2.79 2.89 2.99 3.11 3.11 3.18 3.01
Fixed Asset Turnover		 3.27 3.34 3.48 3.48 3.30 3.29 3.35 0.00 3.24 3.22 3.30
Accounts Payable Turnover		 1.15 1.19 1.17 1.08 1.02 1.09 1.07 1.01 1.05 1.05 0.99
Days Sales Outstanding (DSO)		 72.39 85.01 77.55 78.65 82.51 89.58 93.88 97.34 85.34 86.98 84.99
Days Inventory Outstanding (DIO)		 120.18 118.57 123.31 123.39 130.69 126.13 122.26 117.42 117.37 114.96 121.21
Days Payable Outstanding (DPO)		 317.27 307.58 311.37 339.32 357.24 335.36 340.25 361.58 347.56 346.25 370.42
Cash Conversion Cycle (CCC)		 -124.70 -104.01 -110.52 -137.28 -144.04 -119.65 -124.11 -146.82 -144.85 -144.32 -164.22
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,584 1,779 1,786 1,751 1,926 1,965 2,009 2,089 1,851 1,988 1,784
Invested Capital Turnover		 2.26 2.12 2.22 2.30 2.25 2.15 2.19 2.24 2.39 2.36 2.54
Increase / (Decrease) in Invested Capital		 163 133 148 83 342 186 223 337 -76 24 -225
Enterprise Value (EV)		 35,505 47,655 53,129 44,406 26,812 30,239 26,428 33,743 25,513 25,128 22,996
Market Capitalization		 36,188 47,945 53,590 45,089 26,865 30,377 26,686 34,227 26,388 25,885 24,170
Book Value per Share		 $5.85 $5.35 $5.76 $6.12 $4.94 $5.38 $5.80 $6.56 $6.95 $7.04 $7.68
Tangible Book Value per Share		 $5.41 $4.94 $5.38 $5.77 $4.61 $5.06 $5.50 $6.28 $6.69 $6.80 $7.46
Total Capital		 4,825 4,503 4,683 4,872 4,419 4,544 4,710 5,018 5,173 3,987 4,199
Total Debt		 2,557 2,434 2,436 2,438 2,440 2,441 2,443 2,445 2,447 1,241 1,242
Total Long-Term Debt		 2,432 2,434 2,436 2,438 2,440 1,237 1,238 1,239 1,240 1,241 1,242
Net Debt		 -684 -290 -461 -683 -53 -138 -258 -484 -875 -758 -1,173
Capital Expenditures (CapEx)		 50 53 57 66 111 125 87 94 81 102 77
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -96 146 130 5.50 36 -5.60 21 -1.70 -232 -108 -307
Debt-free Net Working Capital (DFNWC)		 3,144 2,870 3,027 3,126 2,528 2,574 2,722 2,928 3,090 1,891 2,108
Net Working Capital (NWC)		 3,020 2,870 3,027 3,126 2,528 1,369 1,517 1,722 1,884 1,891 2,108
Net Nonoperating Expense (NNE)		 -18 -31 -35 -23 -19 -16 -14 -21 -88 -14 -11
Net Nonoperating Obligations (NNO)		 -684 -290 -461 -683 -53 -138 -258 -484 -875 -758 -1,173
Total Depreciation and Amortization (D&A)		 48 53 53 52 55 58 60 63 64 65 67
Debt-free, Cash-free Net Working Capital to Revenue		 -2.83% 4.03% 3.41% 0.14% 0.91% -0.14% 0.50% -0.04% -5.13% -2.31% -6.38%
Debt-free Net Working Capital to Revenue		 92.39% 79.23% 79.61% 79.45% 63.94% 63.82% 65.62% 68.07% 68.43% 40.56% 43.75%
Net Working Capital to Revenue		 88.74% 79.23% 79.61% 79.45% 63.94% 33.95% 36.56% 40.03% 41.71% 40.56% 43.75%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.31 $0.66 $0.38 $0.36 $0.34 $0.38 $0.27 $0.46 $0.73 $0.68 $0.52
Adjusted Weighted Average Basic Shares Outstanding		 386.60M 386M 390.20M 399.20M 394.20M 393.60M 391.10M 392.10M 391.10M 390.20M 385.10M
Adjusted Diluted Earnings per Share		 $0.29 $0.66 $0.36 $0.35 $0.34 $0.37 $0.27 $0.45 $0.70 $0.67 $0.51
Adjusted Weighted Average Diluted Shares Outstanding		 426.80M 425.50M 416.70M 416.80M 410.20M 412.70M 407.50M 408.20M 407.40M 405.50M 393.60M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.66 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 386.37M 385.52M 397.68M 400.73M 390.60M 390.77M 392.11M 392.16M 390.02M 384.86M 385.87M
Normalized Net Operating Profit after Tax (NOPAT)		 103 152 71 121 115 136 91 159 195 253 189
Normalized NOPAT Margin		 10.58% 14.68% 7.68% 12.02% 11.60% 12.18% 8.82% 13.70% 16.15% 20.12% 15.86%
Pre Tax Income Margin		 24.66% 23.80% 14.39% 18.70% 17.84% 18.98% 14.89% 20.84% 29.13% 27.05% 22.61%
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		 50.05% 127.18% 0.00% 74.97% 183.61% 130.16% 0.00% 0.00% 25.97% 59.79% 0.00%

Financials Breakdown Chart

Key Financial Trends

DexCom (DXCM) has shown a pattern of expanding margins and stronger cash generation over the last four quarters, with notable improvements in gross and operating profitability alongside sustained revenue growth. Below is a concise, investor-focused summary of trends observed in the quarterly statements across the period.

  • Revenue growth accelerating in 2025: DexCom's quarterly revenue rose through 2025, with Q4 2025 operating revenue of $1,259.6M, up from $1,113.5M in Q4 2024.
  • Gross margin expansion: Gross profit reached $792.7M on $1,259.6M in revenue in Q4 2025, implying a gross margin near 63% (up from the mid-50s to 60% range earlier in 2025).
  • Operating margins improving: Q4 2025 operating income was $323.0M on $1,259.6M revenue, about a 25.6% operating margin, signaling sustained margin expansion vs prior quarters.
  • Net income growth: Net income attributable to common shareholders was $267.3M in Q4 2025, up from $151.7M in Q4 2024, highlighting stronger quarterly profitability.
  • Solid free cash flow: Free cash flow remains robust. For example, Q3 2025 CFO was $659.9M with capex $80.5M (approx. $579M FCF), and Q4 2025 CFO was $294.0M with capex $101.9M (approx. $192M FCF).
  • Liquidity improving on the balance sheet: DexCom's cash position strengthened through 2025, with cash on hand rising to about $1.84B in Q3 2025 (vs. around $0.90B in Q1 2025), underscoring improved liquidity.
  • EPS trends: Diluted EPS progressed to roughly $0.70 in Q3 2025 and $0.67 in Q4 2025, supported by favorable margins and growing net income.
  • Quarterly cash flow variability: Cash flow from continuing operations fluctuated across quarters (e.g., CFO of $659.9M in Q3 2025 vs. $294.0M in Q4 2025), indicating seasonality or working capital effects rather than a structural issue.
  • Debt levels within a manageable range: Mid-year 2025 debt levels (short-term around $1.21B and long-term around $1.24B) are substantial but appear to be balanced by cash reserves and strong cash flow, suggesting manageable leverage for the near term.
  • Financing activity headwinds in Q4 2025: DexCom posted meaningful financing outflows in Q4 2025, including $312.8M in share repurchases and a net financing outflow of about $1.522B, contributing to a negative net change in cash for the quarter.
05/14/26 12:46 AM ETAI Generated. May Contain Errors.

DexCom Financials - Frequently Asked Questions

According to the most recent income statement we have on file, DexCom's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

DexCom's net income appears to be on an upward trend, with a most recent value of $836.30 million in 2025, falling from -$57.60 million in 2015. The previous period was $576.20 million in 2024. View DexCom's forecast to see where analysts expect DexCom to go next.

DexCom's total operating income in 2025 was $911.80 million, based on the following breakdown:
  • Total Gross Profit: $2.80 billion
  • Total Operating Expenses: $1.89 billion

Over the last 10 years, DexCom's total revenue changed from $402 million in 2015 to $4.66 billion in 2025, a change of 1,059.7%.

DexCom's total liabilities were at $3.59 billion at the end of 2025, a 18.0% decrease from 2024, and a 4,976.1% increase since 2015.

In the past 10 years, DexCom's cash and equivalents has ranged from $86.10 million in 2015 to $1.14 billion in 2018, and is currently $917.70 million as of their latest financial filing in 2025.

Over the last 10 years, DexCom's book value per share changed from 2.72 in 2015 to 7.04 in 2025, a change of 158.8%.


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Financial statements for NASDAQ:DXCM last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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