DexCom, Inc. (DXCM) 10-Year Financial Performance & Capital Metrics

DXCM • • Industrial / General

HealthcareMedical DevicesDiabetes & Metabolic DevicesContinuous Glucose Monitoring

AboutDexCom, Inc., a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include DexCom G6, an integrated CGM system for diabetes management; Dexcom Real-Time API, which enables invited third-party developers to integrate real-time CGM data into their digital health applications and devices; Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions; and Dexcom Share, a remote monitoring system. The company's products candidature comprises Dexcom G7, a next generation G7 CGM system. DexCom, Inc. has a collaboration and license agreement with Verily Life Sciences LLC and Verily Ireland Limited to develop blood-based or interstitial glucose monitoring products. The company markets its products directly to endocrinologists, physicians, and diabetes educators. DexCom, Inc. was incorporated in 1999 and is headquartered in San Diego, California.Show more

Revenue $4.03B +11.3%
EBITDA $818M +4.3%
Net Income $576M +6.4%
EPS (Diluted) 1.42 +9.2%
Gross Margin 60.46% -4.3%
EBITDA Margin 20.28% -6.3%
Operating Margin 14.88% -9.8%
Net Margin 14.29% -4.4%
ROE 27.63% +7.2%
ROIC 11% -5.1%
Debt/Equity 1.23 -1.9%
Interest Coverage 31.58 +7.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 23.3%
✓Strong 5Y profit CAGR of 41.6%
✓FCF machine: 15.6% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 22.3%
✓Share count reduced 3.0% through buybacks

✗Weaknesses

✗Expensive at 13.6x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y31.58%

5Y22.27%

3Y18.1%

TTM14.21%

Profit (Net Income) CAGR

10Y-

5Y41.63%

3Y38.5%

TTM5.86%

EPS CAGR

10Y-

5Y39.38%

3Y40.68%

TTM7.78%

ROCE

10Y Avg-1.45%

5Y Avg11.26%

3Y Avg13.02%

Latest14.53%

Peer Comparison

Continuous Glucose Monitoring

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PODDInsulet Corporation	20.15B	286.49	49.57	22.07%	9.76%	17.79%	1.52%	1.17
DXCMDexCom, Inc.	27B	69.24	48.76	11.34%	15.96%	26.44%	2.34%	1.23
AHCOAdaptHealth Corp.	1.44B	10.64	17.44	1.9%	2.81%	4.93%	16.36%	1.35
MODDModular Medical, Inc.	36.82M	0.47	-0.93			-276.23%		0.05
SENSSenseonics Holdings, Inc.	297.04M	7.27	-2.91	0.37%	-209.21%	-82.83%
TNDMTandem Diabetes Care, Inc.	1.43B	21.07	-14.33	25.74%	-20.2%	-152.95%	0.35%	1.80

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	402M	573.3M	718.5M	1.03B	1.48B	1.93B	2.45B	2.91B	3.62B	4.03B
Revenue Growth %	0.55%	0.43%	0.25%	0.44%	0.43%	0.31%	0.27%	0.19%	0.24%	0.11%
Cost of Goods Sold+	123.6M	194.9M	226.4M	367.7M	544.5M	646.6M	768M	1.03B	1.33B	1.59B
COGS % of Revenue	0.31%	0.34%	0.32%	0.36%	0.37%	0.34%	0.31%	0.35%	0.37%	0.4%
Gross Profit+	278.4M	378.4M	492.1M	663.9M	931.5M	1.28B	1.68B	1.88B	2.29B	2.44B
Gross Margin %	0.69%	0.66%	0.68%	0.64%	0.63%	0.66%	0.69%	0.65%	0.63%	0.6%
Gross Profit Growth %	0.58%	0.36%	0.3%	0.35%	0.4%	0.37%	0.31%	0.12%	0.22%	0.07%
Operating Expenses+	335.5M	442.3M	534.6M	850.2M	789.2M	980.6M	1.41B	1.49B	1.69B	1.84B
OpEx % of Revenue	0.83%	0.77%	0.74%	0.82%	0.53%	0.51%	0.58%	0.51%	0.47%	0.46%
Selling, General & Admin	198M	286.2M	349.2M	432.8M	515.7M	620.7M	810.5M	1B	1.19B	1.29B
SG&A % of Revenue	0.49%	0.5%	0.49%	0.42%	0.35%	0.32%	0.33%	0.34%	0.33%	0.32%
Research & Development	137.5M	156.1M	185.4M	417.4M	273.5M	359.9M	604.2M	484.2M	505.8M	552.4M
R&D % of Revenue	0.34%	0.27%	0.26%	0.4%	0.19%	0.19%	0.25%	0.17%	0.14%	0.14%
Other Operating Expenses	0	-700K	3.4M	0	0	0	-1.7M	7.5M	0	0
Operating Income+	-57.1M	-63.9M	-42.5M	-186.3M	142.3M	299.5M	265.8M	391.2M	597.7M	600M
Operating Margin %	-0.14%	-0.11%	-0.06%	-0.18%	0.1%	0.16%	0.11%	0.13%	0.17%	0.15%
Operating Income Growth %	-1.66%	-0.12%	0.33%	-3.38%	1.76%	1.1%	-0.11%	0.47%	0.53%	0%
EBITDA+	-46.3M	-48.9M	-26.4M	-157.2M	191M	366.6M	367.7M	547.1M	783.7M	817.7M
EBITDA Margin %	-0.12%	-0.09%	-0.04%	-0.15%	0.13%	0.19%	0.15%	0.19%	0.22%	0.2%
EBITDA Growth %	-2.53%	-0.06%	0.46%	-4.95%	2.22%	0.92%	0%	0.49%	0.43%	0.04%
D&A (Non-Cash Add-back)	10.8M	15M	16.1M	29.1M	48.7M	67.1M	101.9M	155.9M	186M	217.7M
EBIT	-57.1M	-64.2M	-35.8M	-103.8M	164.5M	309.7M	275.6M	409.4M	730.7M	728M
Net Interest Income+	-400K	-300K	-6.1M	-20.3M	-33.9M	-68.6M	-17.1M	5.2M	114.7M	115.2M
Interest Income	0	400K	6.7M	2.4M	26.4M	16.1M	1.7M	23.8M	135M	134.2M
Interest Expense	400K	700K	12.8M	22.7M	60.3M	84.7M	18.8M	18.6M	20.3M	19M
Other Income/Expense	-400K	-1M	-6.1M	59.8M	-38.1M	-74.5M	-9M	-400K	112.7M	109M
Pretax Income+	-57.5M	-64.9M	-48.6M	-126.5M	104.2M	225M	256.8M	390.8M	710.4M	709M
Pretax Margin %	-0.14%	-0.11%	-0.07%	-0.12%	0.07%	0.12%	0.1%	0.13%	0.2%	0.18%
Income Tax+	100K	700K	1.6M	600K	3.1M	-268.6M	39.9M	49.6M	168.9M	132.8M
Effective Tax Rate %	1%	1.01%	1.03%	1%	0.97%	2.19%	0.84%	0.87%	0.76%	0.81%
Net Income+	-57.6M	-65.6M	-50.2M	-127.1M	101.1M	493.6M	216.9M	341.2M	541.5M	576.2M
Net Margin %	-0.14%	-0.11%	-0.07%	-0.12%	0.07%	0.26%	0.09%	0.12%	0.15%	0.14%
Net Income Growth %	-1.57%	-0.14%	0.23%	-1.53%	1.8%	3.88%	-0.56%	0.57%	0.59%	0.06%
Net Income (Continuing)	-57.6M	-65.6M	-50.2M	-127.1M	101.1M	493.6M	216.9M	341.2M	541.5M	576.2M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.18	-0.20	-0.15	-0.36	0.27	1.27	0.51	0.80	1.30	1.42
EPS Growth %	-1.42%	-0.11%	0.25%	-1.4%	1.75%	3.7%	-0.6%	0.57%	0.63%	0.09%
EPS (Basic)	-0.18	-0.20	-0.15	-0.36	0.28	1.31	0.56	0.88	1.44	1.46
Diluted Shares Outstanding	319.2M	334.4M	345.2M	352.8M	369.2M	390M	428.8M	427.5M	425.5M	412.7M
Basic Shares Outstanding	319.2M	334.4M	345.2M	352.8M	364.4M	377.6M	386.9M	389.4M	386M	404.63M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	231.3M	280M	744.7M	1.7B	1.97B	3.42B	3.68B	3.67B	4.43B	4.3B
Cash & Short-Term Investments	115.2M	123.7M	548.6M	1.39B	1.53B	2.71B	2.73B	2.46B	2.72B	2.58B
Cash Only	86.1M	94.5M	441.5M	1.14B	446.2M	817.6M	1.05B	642.3M	566.3M	606.1M
Short-Term Investments	29.1M	29.2M	107.1M	248.6M	1.09B	1.89B	1.68B	1.81B	2.16B	1.97B
Accounts Receivable	74.1M	101.7M	134.3M	226.7M	286.3M	428.5M	516.6M	752.2M	987.5M	1.03B
Days Sales Outstanding	67.28	64.75	68.22	80.21	70.8	81.18	77.01	94.35	99.51	93.54
Inventory	35.2M	45.4M	45.2M	70.7M	119.8M	234.7M	357.3M	306.7M	559.6M	542.6M
Days Inventory Outstanding	103.95	85.02	72.87	70.18	80.31	132.49	169.81	109.03	153.18	124.18
Other Current Assets	0	0	0	0	0	0	27.4M	37M	64.5M	58.3M
Total Non-Current Assets+	60.7M	122.8M	159.4M	216.5M	425.6M	865.7M	1.25B	1.72B	1.84B	2.18B
Property, Plant & Equipment	54.7M	109.4M	145.6M	183.1M	392.8M	608.6M	889.9M	1.14B	1.18B	1.4B
Fixed Asset Turnover	7.35x	5.24x	4.93x	5.63x	3.76x	3.17x	2.75x	2.56x	3.06x	2.88x
Goodwill	3.7M	11.3M	12.1M	18.7M	18.6M	19.3M	26.5M	25.7M	25.2M	22.8M
Intangible Assets	2.2M	200K	0	0	0	21.4M	31.5M	173.3M	134.5M	103.4M
Long-Term Investments	0	0	0	0	0	0	0	19M	38.5M	119.3M
Other Non-Current Assets	100K	2.1M	1.7M	14.7M	14.2M	0	10.5M	28.1M	36.5M	53.7M
Total Assets+	292M	402.8M	904.1M	1.92B	2.4B	4.29B	4.93B	5.39B	6.26B	6.48B
Asset Turnover	1.38x	1.42x	0.79x	0.54x	0.62x	0.45x	0.50x	0.54x	0.58x	0.62x
Asset Growth %	0.58%	0.38%	1.24%	1.12%	0.25%	0.79%	0.15%	0.09%	0.16%	0.04%
Total Current Liabilities+	66.9M	102.4M	138.9M	222.4M	360.2M	614.1M	720.8M	1.84B	1.56B	2.93B
Accounts Payable	19M	20M	46.7M	75.5M	102.3M	163.3M	189.4M	237.9M	276.4M	345.3M
Days Payables Outstanding	56.11	37.46	75.29	74.95	68.58	92.18	90.01	84.58	75.66	79.03
Short-Term Debt	2.3M	0	0	0	0	0	0	772.6M	0	1.2B
Deferred Revenue (Current)	800K	900K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	2.1M	2.5M	0	0	0	26.6M	48.4M	47.7M	46.4M	56.1M
Current Ratio	3.46x	2.73x	5.36x	7.64x	5.47x	5.58x	5.11x	1.99x	2.84x	1.47x
Quick Ratio	2.93x	2.29x	5.04x	7.32x	5.13x	5.19x	4.62x	1.83x	2.48x	1.28x
Cash Conversion Cycle	115.12	112.32	65.81	75.45	82.53	121.48	156.81	118.81	177.03	138.7
Total Non-Current Liabilities+	3.9M	16.6M	345.8M	1.03B	1.15B	1.85B	2.17B	1.42B	2.64B	1.45B
Long-Term Debt	0	0	327.6M	1.01B	1.06B	1.67B	1.98B	1.2B	2.43B	1.24B
Capital Lease Obligations	0	6.7M	6.7M	7.3M	86.8M	155.8M	155.6M	154.2M	138.7M	123.5M
Deferred Tax Liabilities	0	0	0	0	0	0	5.9M	4.9M	0	0
Other Non-Current Liabilities	3.9M	9.9M	11.5M	12.7M	5.7M	26.9M	11M	44.8M	59.6M	79.9M
Total Liabilities	70.8M	119M	484.7M	1.25B	1.51B	2.46B	2.89B	3.26B	4.2B	4.38B
Total Debt+	2.3M	6.7M	334.3M	1.02B	1.16B	1.84B	2.16B	2.15B	2.59B	2.59B
Net Debt	-83.8M	-87.8M	-107.2M	-119.4M	713.9M	1.02B	1.11B	1.5B	2.03B	1.98B
Debt / Equity	0.01x	0.02x	0.80x	1.53x	1.31x	1.01x	1.06x	1.01x	1.25x	1.23x
Debt / EBITDA	-	-	-	-	6.07x	5.02x	5.87x	3.92x	3.31x	3.16x
Net Debt / EBITDA	-	-	-	-	3.74x	2.79x	3.01x	2.75x	2.59x	2.42x
Interest Coverage	-142.75x	-91.29x	-3.32x	-8.21x	2.36x	3.54x	14.14x	21.03x	29.44x	31.58x
Total Equity+	221.2M	283.8M	419.4M	663.3M	882.6M	1.83B	2.04B	2.13B	2.07B	2.1B
Equity Growth %	0.58%	0.28%	0.48%	0.58%	0.33%	1.07%	0.12%	0.04%	-0.03%	0.02%
Book Value per Share	0.69	0.85	1.21	1.88	2.39	4.68	4.76	4.99	4.86	5.09
Total Shareholders' Equity	221.2M	283.8M	419.4M	663.3M	882.6M	1.83B	2.04B	2.13B	2.07B	2.1B
Common Stock	100K	100K	100K	100K	100K	100K	400K	400K	400K	400K
Retained Earnings	-555.4M	-621M	-671.8M	-798.9M	-695.7M	-202.1M	138.7M	479.9M	1.02B	1.6B
Treasury Stock	0	0	0	-100M	-100M	-100M	-206.2M	-595M	-2.45B	-1.58B
Accumulated OCI	-300K	-1M	-2.6M	1.5M	2.3M	3.2M	500K	-11.6M	-16.7M	-8M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	49M	56.2M	92M	123.2M	314.5M	475.6M	442.5M	669.5M	748.5M	989.5M
Operating CF Margin %	0.12%	0.1%	0.13%	0.12%	0.21%	0.25%	0.18%	0.23%	0.21%	0.25%
Operating CF Growth %	1.08%	0.15%	0.64%	0.34%	1.55%	0.51%	-0.07%	0.51%	0.12%	0.32%
Net Income	-57.6M	-65.6M	-50.2M	-127.1M	101.1M	493.6M	154.7M	341.2M	541.5M	576.2M
Depreciation & Amortization	10.8M	15M	16.1M	29.1M	48.7M	67.1M	102M	155.9M	186M	217.7M
Stock-Based Compensation	82.7M	110.8M	106.2M	101.9M	102.7M	119.4M	113.4M	126.5M	150.8M	170.4M
Deferred Taxes	300K	1.3M	0	-80.1M	4.2M	-277.3M	-4.9M	-21.6M	-55M	-43.8M
Other Non-Cash Items	37.2M	1M	17.3M	240.3M	51.7M	93.6M	209.3M	39.8M	-78M	-39.8M
Working Capital Changes	-24.4M	-6.3M	2.6M	-40.9M	6.1M	-20.8M	-132M	27.7M	3.2M	108.8M
Change in Receivables	-31.7M	-27.2M	-31.8M	-93.2M	-60M	-142.3M	-75.5M	-199.9M	-260.1M	-35M
Change in Inventory	-19.2M	-9.8M	400K	-25.5M	-49.1M	-114.5M	-112.2M	49.3M	-252.6M	12.4M
Change in Payables	17.8M	21.1M	21.1M	56.2M	109M	194.5M	58M	295.1M	466.5M	211.7M
Cash from Investing+	-51.5M	-55.9M	-144.4M	-139.8M	-1.02B	-1.02B	-216.1M	-521.5M	-507.2M	-207.5M
Capital Expenditures	-33.3M	-55.7M	-66M	-67.1M	-180M	-199M	-389.2M	-364.8M	-236.6M	-358.8M
CapEx % of Revenue	0.08%	0.1%	0.09%	0.07%	0.12%	0.1%	0.16%	0.13%	0.07%	0.09%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-17.7M	-500K	-78.4M	-61.4M	-835.2M	-11.3M	10.1M	-14.3M	-17.6M	-15.5M
Cash from Financing+	16.8M	8.1M	399.1M	710.4M	10.7M	912.1M	10.4M	-552.5M	-318.6M	-734.8M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	-37M	-1.2M	-9.4M	-9.9M	-17.3M	-99.8M	-13M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	15.7M	500K	26M	56.1M	134.5M	276.6M	53.3M	304.7M	511.9M	630.7M
FCF Margin %	0.04%	0%	0.04%	0.05%	0.09%	0.14%	0.02%	0.1%	0.14%	0.16%
FCF Growth %	1.12%	-0.97%	51%	1.16%	1.4%	1.06%	-0.81%	4.72%	0.68%	0.23%
FCF per Share	0.05	0.00	0.08	0.16	0.36	0.71	0.12	0.71	1.20	1.53
FCF Conversion (FCF/Net Income)	-0.85x	-0.86x	-1.83x	-0.97x	3.11x	0.96x	2.04x	1.96x	1.38x	1.72x
Interest Paid	300K	100K	2.4M	3.6M	10.4M	10.6M	11.6M	12.2M	12.4M	11.4M
Taxes Paid	100K	100K	1.4M	2.3M	4.8M	3.6M	16.8M	114.2M	212.3M	198M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-31.88%	-25.98%	-14.28%	-23.48%	13.08%	36.44%	11.21%	16.35%	25.78%	27.63%
Return on Invested Capital (ROIC)	-40.71%	-28.75%	-12.54%	-32.64%	9.97%	10.11%	6.65%	8.65%	11.6%	11%
Gross Margin	69.25%	66%	68.49%	64.36%	63.11%	66.44%	68.63%	64.72%	63.19%	60.46%
Net Margin	-14.33%	-11.44%	-6.99%	-12.32%	6.85%	25.62%	8.86%	11.73%	14.95%	14.29%
Debt / Equity	0.01x	0.02x	0.80x	1.53x	1.31x	1.01x	1.06x	1.01x	1.25x	1.23x
Interest Coverage	-142.75x	-91.29x	-3.32x	-8.21x	2.36x	3.54x	14.14x	21.03x	29.44x	31.58x
FCF Conversion	-0.85x	-0.86x	-1.83x	-0.97x	3.11x	0.96x	2.04x	1.96x	1.38x	1.72x
Revenue Growth	55.09%	42.61%	25.33%	43.58%	43.08%	30.54%	27.08%	18.84%	24.49%	11.34%

Revenue by Geography

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
UNITED STATES	224.2M	347.4M	497.5M	596.2M	818.4M	1.16B	1.51B	1.85B	2.14B	2.63B
UNITED STATES Growth	-	54.95%	43.21%	19.84%	37.27%	41.92%	29.96%	22.52%	15.82%	22.56%
Non-US	-	-	-	-	213.2M	314.5M	417.2M	599.1M	767.8M	997M
Non-US Growth	-	-	-	-	-	47.51%	32.66%	43.60%	28.16%	29.85%

Frequently Asked Questions

Valuation & Price

DexCom, Inc. (DXCM) has a price-to-earnings (P/E) ratio of 48.8x. This suggests investors expect higher future growth.

Growth & Financials

DexCom, Inc. (DXCM) reported $4.52B in revenue for fiscal year 2024. This represents a 5821% increase from $76.3M in 2011.

DexCom, Inc. (DXCM) grew revenue by 11.3% over the past year. This is steady growth.

Yes, DexCom, Inc. (DXCM) is profitable, generating $720.7M in net income for fiscal year 2024 (14.3% net margin).

Dividend & Returns

DexCom, Inc. (DXCM) has a return on equity (ROE) of 27.6%. This is excellent, indicating efficient use of shareholder capital.

DexCom, Inc. (DXCM) generated $1.06B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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DexCom, Inc. (DXCM) 10-Year Financial Performance & Capital Metrics

DXCM • • Industrial / General

HealthcareMedical DevicesDiabetes & Metabolic DevicesContinuous Glucose Monitoring

Revenue $4.03B +11.3%
EBITDA $818M +4.3%
Net Income $576M +6.4%
EPS (Diluted) 1.42 +9.2%
Gross Margin 60.46% -4.3%
EBITDA Margin 20.28% -6.3%
Operating Margin 14.88% -9.8%
Net Margin 14.29% -4.4%
ROE 27.63% +7.2%
ROIC 11% -5.1%
Debt/Equity 1.23 -1.9%
Interest Coverage 31.58 +7.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 23.3%
✓Strong 5Y profit CAGR of 41.6%
✓FCF machine: 15.6% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 22.3%
✓Share count reduced 3.0% through buybacks

✗Weaknesses

✗Expensive at 13.6x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y31.58%

5Y22.27%

3Y18.1%

TTM14.21%

Profit (Net Income) CAGR

10Y-

5Y41.63%

3Y38.5%

TTM5.86%

EPS CAGR

10Y-

5Y39.38%

3Y40.68%

TTM7.78%

ROCE

10Y Avg-1.45%

5Y Avg11.26%

3Y Avg13.02%

Latest14.53%

Peer Comparison

Continuous Glucose Monitoring

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PODDInsulet Corporation	20.15B	286.49	49.57	22.07%	9.76%	17.79%	1.52%	1.17
DXCMDexCom, Inc.	27B	69.24	48.76	11.34%	15.96%	26.44%	2.34%	1.23
AHCOAdaptHealth Corp.	1.44B	10.64	17.44	1.9%	2.81%	4.93%	16.36%	1.35
MODDModular Medical, Inc.	36.82M	0.47	-0.93			-276.23%		0.05
SENSSenseonics Holdings, Inc.	297.04M	7.27	-2.91	0.37%	-209.21%	-82.83%
TNDMTandem Diabetes Care, Inc.	1.43B	21.07	-14.33	25.74%	-20.2%	-152.95%	0.35%	1.80

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	402M	573.3M	718.5M	1.03B	1.48B	1.93B	2.45B	2.91B	3.62B	4.03B
Revenue Growth %	0.55%	0.43%	0.25%	0.44%	0.43%	0.31%	0.27%	0.19%	0.24%	0.11%
Cost of Goods Sold+	123.6M	194.9M	226.4M	367.7M	544.5M	646.6M	768M	1.03B	1.33B	1.59B
COGS % of Revenue	0.31%	0.34%	0.32%	0.36%	0.37%	0.34%	0.31%	0.35%	0.37%	0.4%
Gross Profit+	278.4M	378.4M	492.1M	663.9M	931.5M	1.28B	1.68B	1.88B	2.29B	2.44B
Gross Margin %	0.69%	0.66%	0.68%	0.64%	0.63%	0.66%	0.69%	0.65%	0.63%	0.6%
Gross Profit Growth %	0.58%	0.36%	0.3%	0.35%	0.4%	0.37%	0.31%	0.12%	0.22%	0.07%
Operating Expenses+	335.5M	442.3M	534.6M	850.2M	789.2M	980.6M	1.41B	1.49B	1.69B	1.84B
OpEx % of Revenue	0.83%	0.77%	0.74%	0.82%	0.53%	0.51%	0.58%	0.51%	0.47%	0.46%
Selling, General & Admin	198M	286.2M	349.2M	432.8M	515.7M	620.7M	810.5M	1B	1.19B	1.29B
SG&A % of Revenue	0.49%	0.5%	0.49%	0.42%	0.35%	0.32%	0.33%	0.34%	0.33%	0.32%
Research & Development	137.5M	156.1M	185.4M	417.4M	273.5M	359.9M	604.2M	484.2M	505.8M	552.4M
R&D % of Revenue	0.34%	0.27%	0.26%	0.4%	0.19%	0.19%	0.25%	0.17%	0.14%	0.14%
Other Operating Expenses	0	-700K	3.4M	0	0	0	-1.7M	7.5M	0	0
Operating Income+	-57.1M	-63.9M	-42.5M	-186.3M	142.3M	299.5M	265.8M	391.2M	597.7M	600M
Operating Margin %	-0.14%	-0.11%	-0.06%	-0.18%	0.1%	0.16%	0.11%	0.13%	0.17%	0.15%
Operating Income Growth %	-1.66%	-0.12%	0.33%	-3.38%	1.76%	1.1%	-0.11%	0.47%	0.53%	0%
EBITDA+	-46.3M	-48.9M	-26.4M	-157.2M	191M	366.6M	367.7M	547.1M	783.7M	817.7M
EBITDA Margin %	-0.12%	-0.09%	-0.04%	-0.15%	0.13%	0.19%	0.15%	0.19%	0.22%	0.2%
EBITDA Growth %	-2.53%	-0.06%	0.46%	-4.95%	2.22%	0.92%	0%	0.49%	0.43%	0.04%
D&A (Non-Cash Add-back)	10.8M	15M	16.1M	29.1M	48.7M	67.1M	101.9M	155.9M	186M	217.7M
EBIT	-57.1M	-64.2M	-35.8M	-103.8M	164.5M	309.7M	275.6M	409.4M	730.7M	728M
Net Interest Income+	-400K	-300K	-6.1M	-20.3M	-33.9M	-68.6M	-17.1M	5.2M	114.7M	115.2M
Interest Income	0	400K	6.7M	2.4M	26.4M	16.1M	1.7M	23.8M	135M	134.2M
Interest Expense	400K	700K	12.8M	22.7M	60.3M	84.7M	18.8M	18.6M	20.3M	19M
Other Income/Expense	-400K	-1M	-6.1M	59.8M	-38.1M	-74.5M	-9M	-400K	112.7M	109M
Pretax Income+	-57.5M	-64.9M	-48.6M	-126.5M	104.2M	225M	256.8M	390.8M	710.4M	709M
Pretax Margin %	-0.14%	-0.11%	-0.07%	-0.12%	0.07%	0.12%	0.1%	0.13%	0.2%	0.18%
Income Tax+	100K	700K	1.6M	600K	3.1M	-268.6M	39.9M	49.6M	168.9M	132.8M
Effective Tax Rate %	1%	1.01%	1.03%	1%	0.97%	2.19%	0.84%	0.87%	0.76%	0.81%
Net Income+	-57.6M	-65.6M	-50.2M	-127.1M	101.1M	493.6M	216.9M	341.2M	541.5M	576.2M
Net Margin %	-0.14%	-0.11%	-0.07%	-0.12%	0.07%	0.26%	0.09%	0.12%	0.15%	0.14%
Net Income Growth %	-1.57%	-0.14%	0.23%	-1.53%	1.8%	3.88%	-0.56%	0.57%	0.59%	0.06%
Net Income (Continuing)	-57.6M	-65.6M	-50.2M	-127.1M	101.1M	493.6M	216.9M	341.2M	541.5M	576.2M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.18	-0.20	-0.15	-0.36	0.27	1.27	0.51	0.80	1.30	1.42
EPS Growth %	-1.42%	-0.11%	0.25%	-1.4%	1.75%	3.7%	-0.6%	0.57%	0.63%	0.09%
EPS (Basic)	-0.18	-0.20	-0.15	-0.36	0.28	1.31	0.56	0.88	1.44	1.46
Diluted Shares Outstanding	319.2M	334.4M	345.2M	352.8M	369.2M	390M	428.8M	427.5M	425.5M	412.7M
Basic Shares Outstanding	319.2M	334.4M	345.2M	352.8M	364.4M	377.6M	386.9M	389.4M	386M	404.63M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	231.3M	280M	744.7M	1.7B	1.97B	3.42B	3.68B	3.67B	4.43B	4.3B
Cash & Short-Term Investments	115.2M	123.7M	548.6M	1.39B	1.53B	2.71B	2.73B	2.46B	2.72B	2.58B
Cash Only	86.1M	94.5M	441.5M	1.14B	446.2M	817.6M	1.05B	642.3M	566.3M	606.1M
Short-Term Investments	29.1M	29.2M	107.1M	248.6M	1.09B	1.89B	1.68B	1.81B	2.16B	1.97B
Accounts Receivable	74.1M	101.7M	134.3M	226.7M	286.3M	428.5M	516.6M	752.2M	987.5M	1.03B
Days Sales Outstanding	67.28	64.75	68.22	80.21	70.8	81.18	77.01	94.35	99.51	93.54
Inventory	35.2M	45.4M	45.2M	70.7M	119.8M	234.7M	357.3M	306.7M	559.6M	542.6M
Days Inventory Outstanding	103.95	85.02	72.87	70.18	80.31	132.49	169.81	109.03	153.18	124.18
Other Current Assets	0	0	0	0	0	0	27.4M	37M	64.5M	58.3M
Total Non-Current Assets+	60.7M	122.8M	159.4M	216.5M	425.6M	865.7M	1.25B	1.72B	1.84B	2.18B
Property, Plant & Equipment	54.7M	109.4M	145.6M	183.1M	392.8M	608.6M	889.9M	1.14B	1.18B	1.4B
Fixed Asset Turnover	7.35x	5.24x	4.93x	5.63x	3.76x	3.17x	2.75x	2.56x	3.06x	2.88x
Goodwill	3.7M	11.3M	12.1M	18.7M	18.6M	19.3M	26.5M	25.7M	25.2M	22.8M
Intangible Assets	2.2M	200K	0	0	0	21.4M	31.5M	173.3M	134.5M	103.4M
Long-Term Investments	0	0	0	0	0	0	0	19M	38.5M	119.3M
Other Non-Current Assets	100K	2.1M	1.7M	14.7M	14.2M	0	10.5M	28.1M	36.5M	53.7M
Total Assets+	292M	402.8M	904.1M	1.92B	2.4B	4.29B	4.93B	5.39B	6.26B	6.48B
Asset Turnover	1.38x	1.42x	0.79x	0.54x	0.62x	0.45x	0.50x	0.54x	0.58x	0.62x
Asset Growth %	0.58%	0.38%	1.24%	1.12%	0.25%	0.79%	0.15%	0.09%	0.16%	0.04%
Total Current Liabilities+	66.9M	102.4M	138.9M	222.4M	360.2M	614.1M	720.8M	1.84B	1.56B	2.93B
Accounts Payable	19M	20M	46.7M	75.5M	102.3M	163.3M	189.4M	237.9M	276.4M	345.3M
Days Payables Outstanding	56.11	37.46	75.29	74.95	68.58	92.18	90.01	84.58	75.66	79.03
Short-Term Debt	2.3M	0	0	0	0	0	0	772.6M	0	1.2B
Deferred Revenue (Current)	800K	900K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	2.1M	2.5M	0	0	0	26.6M	48.4M	47.7M	46.4M	56.1M
Current Ratio	3.46x	2.73x	5.36x	7.64x	5.47x	5.58x	5.11x	1.99x	2.84x	1.47x
Quick Ratio	2.93x	2.29x	5.04x	7.32x	5.13x	5.19x	4.62x	1.83x	2.48x	1.28x
Cash Conversion Cycle	115.12	112.32	65.81	75.45	82.53	121.48	156.81	118.81	177.03	138.7
Total Non-Current Liabilities+	3.9M	16.6M	345.8M	1.03B	1.15B	1.85B	2.17B	1.42B	2.64B	1.45B
Long-Term Debt	0	0	327.6M	1.01B	1.06B	1.67B	1.98B	1.2B	2.43B	1.24B
Capital Lease Obligations	0	6.7M	6.7M	7.3M	86.8M	155.8M	155.6M	154.2M	138.7M	123.5M
Deferred Tax Liabilities	0	0	0	0	0	0	5.9M	4.9M	0	0
Other Non-Current Liabilities	3.9M	9.9M	11.5M	12.7M	5.7M	26.9M	11M	44.8M	59.6M	79.9M
Total Liabilities	70.8M	119M	484.7M	1.25B	1.51B	2.46B	2.89B	3.26B	4.2B	4.38B
Total Debt+	2.3M	6.7M	334.3M	1.02B	1.16B	1.84B	2.16B	2.15B	2.59B	2.59B
Net Debt	-83.8M	-87.8M	-107.2M	-119.4M	713.9M	1.02B	1.11B	1.5B	2.03B	1.98B
Debt / Equity	0.01x	0.02x	0.80x	1.53x	1.31x	1.01x	1.06x	1.01x	1.25x	1.23x
Debt / EBITDA	-	-	-	-	6.07x	5.02x	5.87x	3.92x	3.31x	3.16x
Net Debt / EBITDA	-	-	-	-	3.74x	2.79x	3.01x	2.75x	2.59x	2.42x
Interest Coverage	-142.75x	-91.29x	-3.32x	-8.21x	2.36x	3.54x	14.14x	21.03x	29.44x	31.58x
Total Equity+	221.2M	283.8M	419.4M	663.3M	882.6M	1.83B	2.04B	2.13B	2.07B	2.1B
Equity Growth %	0.58%	0.28%	0.48%	0.58%	0.33%	1.07%	0.12%	0.04%	-0.03%	0.02%
Book Value per Share	0.69	0.85	1.21	1.88	2.39	4.68	4.76	4.99	4.86	5.09
Total Shareholders' Equity	221.2M	283.8M	419.4M	663.3M	882.6M	1.83B	2.04B	2.13B	2.07B	2.1B
Common Stock	100K	100K	100K	100K	100K	100K	400K	400K	400K	400K
Retained Earnings	-555.4M	-621M	-671.8M	-798.9M	-695.7M	-202.1M	138.7M	479.9M	1.02B	1.6B
Treasury Stock	0	0	0	-100M	-100M	-100M	-206.2M	-595M	-2.45B	-1.58B
Accumulated OCI	-300K	-1M	-2.6M	1.5M	2.3M	3.2M	500K	-11.6M	-16.7M	-8M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	49M	56.2M	92M	123.2M	314.5M	475.6M	442.5M	669.5M	748.5M	989.5M
Operating CF Margin %	0.12%	0.1%	0.13%	0.12%	0.21%	0.25%	0.18%	0.23%	0.21%	0.25%
Operating CF Growth %	1.08%	0.15%	0.64%	0.34%	1.55%	0.51%	-0.07%	0.51%	0.12%	0.32%
Net Income	-57.6M	-65.6M	-50.2M	-127.1M	101.1M	493.6M	154.7M	341.2M	541.5M	576.2M
Depreciation & Amortization	10.8M	15M	16.1M	29.1M	48.7M	67.1M	102M	155.9M	186M	217.7M
Stock-Based Compensation	82.7M	110.8M	106.2M	101.9M	102.7M	119.4M	113.4M	126.5M	150.8M	170.4M
Deferred Taxes	300K	1.3M	0	-80.1M	4.2M	-277.3M	-4.9M	-21.6M	-55M	-43.8M
Other Non-Cash Items	37.2M	1M	17.3M	240.3M	51.7M	93.6M	209.3M	39.8M	-78M	-39.8M
Working Capital Changes	-24.4M	-6.3M	2.6M	-40.9M	6.1M	-20.8M	-132M	27.7M	3.2M	108.8M
Change in Receivables	-31.7M	-27.2M	-31.8M	-93.2M	-60M	-142.3M	-75.5M	-199.9M	-260.1M	-35M
Change in Inventory	-19.2M	-9.8M	400K	-25.5M	-49.1M	-114.5M	-112.2M	49.3M	-252.6M	12.4M
Change in Payables	17.8M	21.1M	21.1M	56.2M	109M	194.5M	58M	295.1M	466.5M	211.7M
Cash from Investing+	-51.5M	-55.9M	-144.4M	-139.8M	-1.02B	-1.02B	-216.1M	-521.5M	-507.2M	-207.5M
Capital Expenditures	-33.3M	-55.7M	-66M	-67.1M	-180M	-199M	-389.2M	-364.8M	-236.6M	-358.8M
CapEx % of Revenue	0.08%	0.1%	0.09%	0.07%	0.12%	0.1%	0.16%	0.13%	0.07%	0.09%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-17.7M	-500K	-78.4M	-61.4M	-835.2M	-11.3M	10.1M	-14.3M	-17.6M	-15.5M
Cash from Financing+	16.8M	8.1M	399.1M	710.4M	10.7M	912.1M	10.4M	-552.5M	-318.6M	-734.8M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	-37M	-1.2M	-9.4M	-9.9M	-17.3M	-99.8M	-13M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	15.7M	500K	26M	56.1M	134.5M	276.6M	53.3M	304.7M	511.9M	630.7M
FCF Margin %	0.04%	0%	0.04%	0.05%	0.09%	0.14%	0.02%	0.1%	0.14%	0.16%
FCF Growth %	1.12%	-0.97%	51%	1.16%	1.4%	1.06%	-0.81%	4.72%	0.68%	0.23%
FCF per Share	0.05	0.00	0.08	0.16	0.36	0.71	0.12	0.71	1.20	1.53
FCF Conversion (FCF/Net Income)	-0.85x	-0.86x	-1.83x	-0.97x	3.11x	0.96x	2.04x	1.96x	1.38x	1.72x
Interest Paid	300K	100K	2.4M	3.6M	10.4M	10.6M	11.6M	12.2M	12.4M	11.4M
Taxes Paid	100K	100K	1.4M	2.3M	4.8M	3.6M	16.8M	114.2M	212.3M	198M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-31.88%	-25.98%	-14.28%	-23.48%	13.08%	36.44%	11.21%	16.35%	25.78%	27.63%
Return on Invested Capital (ROIC)	-40.71%	-28.75%	-12.54%	-32.64%	9.97%	10.11%	6.65%	8.65%	11.6%	11%
Gross Margin	69.25%	66%	68.49%	64.36%	63.11%	66.44%	68.63%	64.72%	63.19%	60.46%
Net Margin	-14.33%	-11.44%	-6.99%	-12.32%	6.85%	25.62%	8.86%	11.73%	14.95%	14.29%
Debt / Equity	0.01x	0.02x	0.80x	1.53x	1.31x	1.01x	1.06x	1.01x	1.25x	1.23x
Interest Coverage	-142.75x	-91.29x	-3.32x	-8.21x	2.36x	3.54x	14.14x	21.03x	29.44x	31.58x
FCF Conversion	-0.85x	-0.86x	-1.83x	-0.97x	3.11x	0.96x	2.04x	1.96x	1.38x	1.72x
Revenue Growth	55.09%	42.61%	25.33%	43.58%	43.08%	30.54%	27.08%	18.84%	24.49%	11.34%

Revenue by Geography

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
UNITED STATES	224.2M	347.4M	497.5M	596.2M	818.4M	1.16B	1.51B	1.85B	2.14B	2.63B
UNITED STATES Growth	-	54.95%	43.21%	19.84%	37.27%	41.92%	29.96%	22.52%	15.82%	22.56%
Non-US	-	-	-	-	213.2M	314.5M	417.2M	599.1M	767.8M	997M
Non-US Growth	-	-	-	-	-	47.51%	32.66%	43.60%	28.16%	29.85%

Frequently Asked Questions

Valuation & Price

DexCom, Inc. (DXCM) has a price-to-earnings (P/E) ratio of 48.8x. This suggests investors expect higher future growth.

Growth & Financials

DexCom, Inc. (DXCM) reported $4.52B in revenue for fiscal year 2024. This represents a 5821% increase from $76.3M in 2011.

DexCom, Inc. (DXCM) grew revenue by 11.3% over the past year. This is steady growth.

Yes, DexCom, Inc. (DXCM) is profitable, generating $720.7M in net income for fiscal year 2024 (14.3% net margin).

Dividend & Returns

DexCom, Inc. (DXCM) has a return on equity (ROE) of 27.6%. This is excellent, indicating efficient use of shareholder capital.

DexCom, Inc. (DXCM) generated $1.06B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.