DXCMNasdaqSurgical & Medical Instruments & ApparatusFiscal year ends December 31
DEXCOM INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$85.98−0.06 (-0.07%)
Close on Oct 19, 2026
- Market cap
- $33.54B
- P/E (TTM)
- 34.1
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
60.1%−6.3 pts over 5 years
Operating margin
19.6%+4.0 pts over 5 years
Net margin
17.9%−10.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +15.6% | +17.0% | +19.3% | +27.8% | |
| Gross profit | +14.9% | +14.2% | +17.0% | +26.0% | |
| Operating income | +52.0% | +32.6% | +24.9% | – | |
| Net income | +45.1% | +34.8% | +8.8% | – | |
| EPS, diluted | +47.2% | +36.6% | +9.5% | – | |
| Free cash flow | +70.8% | +52.3% | +31.2% | +52.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 45.2% | 34.5% | |
| Return on assets | -18.9% | 16.4% | 13.0% | |
| Current ratio | 2.73 | 5.58 | 1.88 | |
| Interest coverage | -91.3× | 16.9× | 49.8× | |
| Inventory turnover | 4.8× | 3.6× | 3.2× | |
| Capex to revenue | 9.7% | 10.3% | 7.8% | |
| Diluted shares | 334M | 420M | 406M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Dexcom generated $4.29B from operations and spent $4.21B on capital expenditure, dividends and share buybacks. 41% of that went back into the business.
Generated
$4.29B
Used
$4.21B
Capital expenditure$1.71B41%Dividends$00%Share buybacks$2.50B59%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin17.9%
×Asset turnover0.73×
×Equity multiplier2.64×
=Return on equity, FY202534.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 17.9% | 0.73× | 2.64× | 34.5% |
| FY2024 | 14.3% | 0.63× | 3.06× | 27.6% |
| FY2023 | 14.9% | 0.62× | 2.78× | 25.8% |
| FY2022 | 11.7% | 0.56× | 2.47× | 16.3% |
| FY2021 | 8.9% | 0.53× | 2.57× | 12.1% |
| FY2020 | 28.5% | 0.58× | 2.75× | 45.2% |
| FY2019 | 6.8% | 0.68× | 2.79× | 13.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$836.30M
- Cash generatingOperating cash flow above zero$1.44B
- Return on assets improvedROA up on the prior year9.2% → 12.9%
- Earnings backed by cashOperating cash flow above net income$1.44B vs $836.30M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.47 → 1.88
- No dilutionShare count did not rise413M → 406M
- Gross margin improvedGross margin up on the prior year60.46% → 60.10%
- More efficientAsset turnover rose0.64 → 0.72