A Business at a Glance
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PART I We are a medical device company primarily focused on the design, development and commercialization of continuous glucose monitoring, or CGM, systems for the management of diabetes and metabolic health by patients, caregivers, and clinicians around the world. We received approval from the Food and Drug Administration, or FDA, and commercialized our first product in 2006. We launched our latest generation systems, the Dexcom G7 Continuous Glucose Monitoring System, or G7, in 2023, and the Dexcom G7 15 Day Continuous Glucose Monitoring System, or G7 15 Day, in late 2025. In August 2024, we launched Stelo, our biosensor designed for adults with prediabetes and Type 2 diabetes who do not use insulin, as the first over-the-counter glucose biosensor in the U.S. Unless the context requires otherwise, the terms “we,” “us,” “our,” the “company,” or “Dexcom” refer to DexCom, Inc. and its subsidiaries.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.7B | 4.7B | 4.0B | 3.6B | 2.9B | 2.4B |
| Net Income | 836M | 836M | 576M | 542M | 341M | 217M |
| EPS | $2.09 | $2.09 | $1.42 | $1.30 | $0.82 | $0.13 |
| Free Cash Flow | 1.1B | 1.1B | 631M | 512M | 305M | 53M |
| ROIC | 22.1% | 20.6% | 15.0% | 24.2% | 9.2% | 11.0% |
| Gross Margin | 60.1% | 60.1% | 60.5% | 63.2% | 64.7% | 68.6% |
| Debt/Equity | 0.49 | 0.49 | 1.78 | 1.23 | 1.34 | 1.03 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 912M | 912M | 600M | 598M | 391M | 266M |
| Operating Margin | 19.6% | 19.6% | 14.9% | 16.5% | 13.4% | 10.9% |
| ROE | 30.5% | 34.5% | 27.4% | 26.2% | 16.0% | 10.6% |
| Shares Outstanding | 400M | 400M | 406M | 417M | 416M | 1,637M |
DEXCOM INC passes 7 of 9 quality checks, indicating strong fundamentals.
DEXCOM INC trades at 30.2x trailing earnings, compared to its 15-year median P/E of 64.1x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 22.6x vs a median of 38.4x. The company's 5-year average ROIC is 16.0% with a gross margin of 63.4%. Total shareholder yield (buybacks) is 2.0%. At current prices, the estimated annualized return to fair value is +39.3%.
DEXCOM INC (DXCM) has a current P/E ratio of 30.2, compared to its historical median P/E of 64.1. The stock is currently considered Cheap based on its historical valuation range.
DEXCOM INC (DXCM) has a 5-year average return on invested capital (ROIC) of 16.0%. This indicates strong capital allocation and a potential competitive advantage.
DEXCOM INC (DXCM) has a market capitalization of $25.3B. It is classified as a large-cap stock.
DEXCOM INC (DXCM) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.98%.
Based on historical P/E analysis, DEXCOM INC (DXCM) appears cheap. The current P/E of 30.2 is 53% below its historical median of 64.1. The estimated fair value CAGR (P/E method) is 23.9%.
DEXCOM INC (DXCM) operates in the Surgical & Medical Instruments & Apparatus industry, within the Healthcare sector.
DEXCOM INC (DXCM) reported annual revenue of $4.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
DEXCOM INC (DXCM) has a net profit margin of 17.9%. This is a healthy margin.
DEXCOM INC (DXCM) generated $1.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
DEXCOM INC (DXCM) has a debt-to-equity ratio of 0.49. This indicates a conservatively financed balance sheet.
DEXCOM INC (DXCM) reported earnings per share (EPS) of $2.09 in its most recent fiscal year.
DEXCOM INC (DXCM) has a return on equity (ROE) of 34.5%. This indicates the company generates strong returns for shareholders.
DEXCOM INC (DXCM) has a 5-year average gross margin of 63.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for DEXCOM INC (DXCM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
DEXCOM INC (DXCM) has a book value per share of $6.86, based on its most recent annual SEC filing.