DXCM Healthcare

DexCom, Inc.

$82.97-2.11%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Healthcare
Industry: Medical Devices
Country: United States
Market cap: 31.3B USD
Enterprise value: 30.8B USD
Full-time employees: 11,000

Overall health

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.48 vs a peer median of 0.63) and more debt relative to equity (0.53× vs a peer median of 0.22×)higher risk: bigger price swings (beta 1.48 vs peers 0.63) and more debt vs equity (0.53× vs peers 0.22×)
About average: valuation

Ranks #291 of 1,157 healthcare companies (top 26%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year high. 20% in 2025, the best of the last 6 years.
DexCom kept 20% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.
Profits growing faster than sales. Since 2022: revenue +60%, operating profit +133%.
Since 2022, DexCom's revenue grew 60% while operating profit grew 133%: each extra dollar of sales is adding more profit.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $1.9B in 2020 to $4.7B in 2025.
DexCom's fiscal-year revenue rose in each of the five years to 2025, from $1.9B to $4.7B.
Profit is backed by cash. Free cash flow is 141% of reported profit.
DexCom's free cash flow is 141% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

StockQuotient Score

63/ 100

Oct 5 63 → Nov 4 63

Valuation

Is the price right?

57/100

Moderate▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Share count down 2.2%

Valuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 58 → 57

Share price +5.6%-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Helped by:

▲ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield3.2%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 1.16Sector median: 0.0148 · MAD: 0.0148

EBITDA yield4.6%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score 0.14Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield4.5%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield8.4%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

78/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 3.1%

Why

Stronger than most peers on:

▲ EPS growth
▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth81.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.41Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth15.8%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.19Sector median: 0.0584 · MAD: 0.0840

Revenue growth15.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.97Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

97/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ ROIC
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin22.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.30Sector median: 0.0706 · MAD: 0.1217

Return on assets15.5%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 2.47Sector median: 0.0166 · MAD: 0.0537

Return on invested capital59.3%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.81Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin62.5%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity38.1%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.48

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.52Sector median: 0.6250 · MAD: 0.3380

Current ratio1.73×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.62Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.53×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score -1.53Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about DexCom

Is DexCom getting weaker?: Its latest SEC filing (Jul 30, 2026) got stronger: share count down 2.2%. Its overall score is unchanged at 63/100 since Oct 28, 2026.
How is DexCom valued vs its peers?: Priced about in line with its peers. Valuation scores 57/100 against 1,393 healthcare peers. Earnings yield 3.2% vs a peer median of 1.5% (stronger than 64% of peers).Earnings yield 3.2% vs peers 1.5% (stronger than 64% of peers).
Is DexCom growing?: Yes, faster than most of its peers. Growth scores 78/100 against 1,393 healthcare peers. Earnings per share growth 81.8% vs a peer median of 9.8% (stronger than 85% of peers).Earnings per share growth 81.8% vs peers 9.8% (stronger than 85% of peers).
How profitable is DexCom?: More profitable than most of its peers. Profitability scores 97/100 against 1,393 healthcare peers. Return on assets 15.5% vs a peer median of 1.7% (stronger than 95% of peers).Return on assets 15.5% vs peers 1.7% (stronger than 95% of peers).
How risky is DexCom?: Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Beta 1.48 vs a peer median of 0.63 (weaker than 87% of peers).Beta 1.48 vs peers 0.63 (weaker than 87% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 30, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Share count down 2.2%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	4.8B USD	5.0B USD	+3.1%
Net income (12 months)	930.4M USD	999.7M USD	+7.4%
Operating margin	21.4%	22.9%	+1.5 pts
Free cash flow (12 months)	1.4B USD	1.4B USD	−1.7%
Cash	1.1B USD	1.1B USD	−1.2%
Shares outstanding	385.9M	377.4M	−2.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Medical Devices · 33 companies

Valuations in Medical Devices are near the bottom of their range since 2016.

7% of months since 2016 were valued lower than now.
4% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −8% and earnings +33% (medians): earnings grew faster than prices.
Median price-to-sales is +20% vs the whole market, against a usual +109%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	68.6%	64.7%	63.2%	60.5%	60.1%	▼ 0.4 pts
Operating margin	10.9%	13.4%	16.5%	14.9%	19.6%	▲ 4.7 pts
Net margin	8.9%	11.7%	14.9%	14.3%	17.9%	▲ 3.7 pts
Return on assets (ROA)	4.4%	6.3%	8.6%	8.9%	13.2%	▲ 4.3 pts
Return on equity (ROE)	10.6%	16.0%	26.2%	27.4%	30.5%	▲ 3.1 pts
Free cash flow margin	2.2%	10.5%	14.1%	15.6%	23.1%	▲ 7.5 pts
Current ratio	5.11×	1.99×	2.84×	1.47×	1.88×	▲ 28%
Quick ratio	4.62×	1.83×	2.48×	1.28×	1.59×	▲ 24%
Interest coverage	14.14×	21.03×	29.44×	31.58×	49.83×	▲ 58%

DXCM price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

BB Biotech AGBBZA.DE100/ 100

Arbutus Biopharma CorporationABUS97/ 100

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Bringing the fundamentals into focus…

Overall health

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.48 vs a peer median of 0.63) and more debt relative to equity (0.53× vs a peer median of 0.22×)higher risk: bigger price swings (beta 1.48 vs peers 0.63) and more debt vs equity (0.53× vs peers 0.22×)

About average: valuation

Ranks #291 of 1,157 healthcare companies (top 26%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year high. 20% in 2025, the best of the last 6 years.

DexCom kept 20% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.

Profits growing faster than sales. Since 2022: revenue +60%, operating profit +133%.

Since 2022, DexCom's revenue grew 60% while operating profit grew 133%: each extra dollar of sales is adding more profit.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $1.9B in 2020 to $4.7B in 2025.

DexCom's fiscal-year revenue rose in each of the five years to 2025, from $1.9B to $4.7B.

Profit is backed by cash. Free cash flow is 141% of reported profit.

DexCom's free cash flow is 141% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Questions investors ask about DexCom

Is DexCom getting weaker?

Its latest SEC filing (Jul 30, 2026) got stronger: share count down 2.2%. Its overall score is unchanged at 63/100 since Oct 28, 2026.

How is DexCom valued vs its peers?

Priced about in line with its peers. Valuation scores 57/100 against 1,393 healthcare peers. Earnings yield 3.2% vs a peer median of 1.5% (stronger than 64% of peers).Earnings yield 3.2% vs peers 1.5% (stronger than 64% of peers).

Is DexCom growing?

Yes, faster than most of its peers. Growth scores 78/100 against 1,393 healthcare peers. Earnings per share growth 81.8% vs a peer median of 9.8% (stronger than 85% of peers).Earnings per share growth 81.8% vs peers 9.8% (stronger than 85% of peers).

How profitable is DexCom?

More profitable than most of its peers. Profitability scores 97/100 against 1,393 healthcare peers. Return on assets 15.5% vs a peer median of 1.7% (stronger than 95% of peers).Return on assets 15.5% vs peers 1.7% (stronger than 95% of peers).

How risky is DexCom?

Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Beta 1.48 vs a peer median of 0.63 (weaker than 87% of peers).Beta 1.48 vs peers 0.63 (weaker than 87% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

4.8B USD

5.0B USD

+3.1%

Net income (12 months)

930.4M USD

999.7M USD

+7.4%

Operating margin

21.4%

22.9%

+1.5 pts

Free cash flow (12 months)

1.4B USD

1.4B USD

−1.7%

Cash

1.1B USD

1.1B USD

−1.2%

Shares outstanding

385.9M

377.4M

−2.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

68.6%

64.7%

63.2%

60.5%

60.1%

▼ 0.4 pts

Operating margin

10.9%

13.4%

16.5%

14.9%

19.6%

▲ 4.7 pts

Net margin

8.9%

11.7%

14.9%

14.3%

17.9%

▲ 3.7 pts

Return on assets (ROA)

4.4%

6.3%

8.6%

8.9%

13.2%

▲ 4.3 pts

Return on equity (ROE)

10.6%

16.0%

26.2%

27.4%

30.5%

▲ 3.1 pts

Free cash flow margin

2.2%

10.5%

14.1%

15.6%

23.1%

▲ 7.5 pts

Current ratio

5.11×

1.99×

2.84×

1.47×

1.88×

▲ 28%

Quick ratio

4.62×

1.83×

2.48×

1.28×

1.59×

▲ 24%

Interest coverage

14.14×

21.03×

29.44×

31.58×

49.83×

▲ 58%