DexCom designs and commercializes continuous glucose monitoring systems for diabetic patients. CGM systems serve as an alternative to the traditional blood glucose meter process, and the company is evolving its CGM systems to provide integration with insulin pumps from Insulet and Tandem for automatic insulin delivery.
It is a $31.7B healthcare company. Revenue grew 15.5% over the last year, it keeps 20¢ of every dollar of sales as profit, and its net debt equals ~0.3 years of free cash flow. It trades at 31.7× earnings — near the lowest of its own history.
- Website
- dexcom.com
- Location
- San Diego, CA
- Employees
- 11 100
- Sector
- Healthcare
- Founded
- 1999
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong growth, profitability, health and quality.
Valuation61
- P/E vs own history7th pct · 25/25
- FCF yield4.4% · 12/25
- P/S6.4x · 12/25
- EV/EBITDA22.8x · 12/25
Growth77
- Revenue CAGR17.5% · 20/25
- Net income CAGR52.5% · 25/25
- EPS CAGR ~5Y10.3% · 20/25
- Fwd implied growth6.4% · 12/25
Profitability95
- ROIC25.9% · 25/25
- ROE36.2% · 25/25
- Net margin20.1% · 25/25
- Operating margin22.9% · 20/25
Health88
- Altman Z6.78 · 25/25
- Current ratio1.73 · 18/25
- Interest coverage978.0x · 25/25
- Net cash / debtD/A 8% · 20/25
Quality84
- Piotroski F7/9 · 22/25
- Beneish M-2.91 · 25/25
- FCF conversion141% · 25/25
- Margin stabilityσ 13.0% · 12/25
Moat56
- ROIC >12% years3/8 yrs · 6/25
- Median gross margin64.5% · 25/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst -12.3% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$836M net income
- Apr 20, 2020MilestoneDexcom became a component of the Nasdaq-100, replacing American Airlines Group in the index
- FY2019FinancialTurned profitable$101M net income after a loss year
- FY2018FinancialRevenue crossed $1B$1.03B for the year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2012MilestoneDexcom's first G-series CGM, the G4 Platinum, received a CE mark and FDA approval in 2012 for adults ages 18 and over
- 2005IPODexcom went public in 2005 and is listed on the Nasdaq Global Select Market stock exchange under the ticker symbol DXCM
- 1999FoundedDexcom was founded in 1999 by Scott Glenn, John Burd, Lauren Otsuki, Ellen Preston and Bret Megargel
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (64.3%)
- Strongly profitable — 20.1% net margin
- Revenue growing 15.5% year over year
- Strong cash conversion — FCF is 28.3% of revenue
- Interest covered 978.0× by operating earnings
Watch-outs
- Loss-making in 3 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+15.5% YoY
- Profitable — makes more than it spends$1000M TTM
- Profit growing — earnings are higher than last year+37.2% YoY
- Generates cash — cash left after running and investing$1.41B TTM
- Debt under control — could handle its obligations~0.3y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$31.7B market cap
- Not printing shares — share count not ballooning — you keep your slice+4.0% shares over ~5y
- Proven track record — years of profitability behind it7/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 6.8 — safe
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 31.7
Peer comparisonDexCom, Inc. vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| DXCM this company | $31.7B | 31.7 | +15.5% | 20.1% | Strong |
| LLY Eli Lilly & Co. | $1.0T | 41.6 | +49.6% | 33.5% | Solid |
| JNJ Johnson & Johnson | $630.9B | 29.9 | +8.1% | 21.5% | Mixed |
| ABBV Abbvie Inc. | $488.5B | 77.4 | +10.4% | 9.8% | Mixed |
| MRK Merck & Co., Inc. | $361.0B | 113.2 | +4.6% | 4.8% | Mixed |
| UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) | $340.7B | 24.1 | +6.5% | 3.1% | Mixed |
| NVS Novartis AG | $273.2B | 20.3 | +9.6% | 24.7% | Solid |
Head-to-head: DXCM vs LLY · DXCM vs JNJ · DXCM vs ABBV
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/DXCM
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of DXCM on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $84.11 · market cap $31.7B.