Dexcom (DXCM) | Financial Analysis & Statements
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Mar 2025Income Metrics
Revenue
1.0B
Gross Profit
589.0M
56.85%
Operating Income
133.7M
12.91%
Net Income
105.4M
10.17%
EPS (Diluted)
$0.27
Balance Sheet Metrics
Total Assets
6.8B
Total Liabilities
4.5B
Shareholders Equity
2.3B
Debt to Equity
1.98
Cash Flow Metrics
Operating Cash Flow
167.9M
Free Cash Flow
96.8M
Revenue & Profitability Trend
Dexcom Income Statement From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenue | 4.0B | 3.6B | 2.9B | 2.4B | 1.9B |
| Cost of Goods Sold | 1.6B | 1.3B | 1.0B | 768.0M | 646.6M |
| Gross Profit | 2.4B | 2.3B | 1.9B | 1.7B | 1.3B |
| Gross Margin % | 60.5% | 63.2% | 64.7% | 68.6% | 66.4% |
| Operating Expenses | |||||
| Research & Development | 552.4M | 505.8M | 484.2M | 604.2M | 359.9M |
| Selling, General & Administrative | 1.3B | 1.2B | 1.0B | 810.5M | 620.7M |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 1.8B | 1.7B | 1.5B | 1.4B | 980.6M |
| Operating Income | 600.0M | 597.7M | 391.2M | 265.8M | 299.5M |
| Operating Margin % | 14.9% | 16.5% | 13.4% | 10.9% | 15.5% |
| Non-Operating Items | |||||
| Interest Income | 134.2M | 135.0M | 23.8M | 1.7M | 16.1M |
| Interest Expense | 19.0M | 20.3M | 18.6M | 18.8M | 84.7M |
| Other Non-Operating Income | -6.2M | -2.0M | -5.6M | 8.1M | -5.9M |
| Pre-tax Income | 709.0M | 710.4M | 390.8M | 256.8M | 225.0M |
| Income Tax | 132.8M | 168.9M | 49.6M | 39.9M | -268.6M |
| Effective Tax Rate % | 18.7% | 23.8% | 12.7% | 15.5% | -119.4% |
| Net Income | 576.2M | 541.5M | 341.2M | 216.9M | 493.6M |
| Net Margin % | 14.3% | 14.9% | 11.7% | 8.9% | 25.6% |
| Key Metrics | |||||
| EBITDA | 945.7M | 916.7M | 565.3M | 377.7M | 382.7M |
| EPS (Basic) | $1.46 | $1.40 | $0.88 | $0.40 | $1.31 |
| EPS (Diluted) | $1.42 | $1.30 | $0.82 | $0.39 | $1.27 |
| Basic Shares Outstanding | 393600000 | 386000000 | 389400000 | 386800000 | 377600000 |
| Diluted Shares Outstanding | 393600000 | 386000000 | 389400000 | 386800000 | 377600000 |
Income Statement Trend
Dexcom Balance Sheet From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 606.1M | 566.3M | 642.3M | 1.1B | 817.6M |
| Short-term Investments | 2.0B | 2.2B | 1.8B | 1.7B | 1.9B |
| Accounts Receivable | 1.0B | 973.9M | 713.3M | 514.3M | 428.5M |
| Inventory | 542.6M | 559.6M | 306.7M | 357.3M | 234.7M |
| Other Current Assets | 39.7M | 49.3M | 26.8M | 27.4M | 53.9M |
| Total Current Assets | 4.3B | 4.4B | 3.7B | 3.7B | 3.4B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 62.8M | 71.4M | 80.0M | 88.1M | 93.3M |
| Goodwill | 149.0M | 184.9M | 224.7M | 84.5M | 60.0M |
| Intangible Assets | 103.4M | 134.5M | 173.3M | 31.5M | 21.4M |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 521.1M | 441.5M | 353.1M | 301.0M | 237.8M |
| Total Non-Current Assets | 2.2B | 1.8B | 1.7B | 1.2B | 865.7M |
| Total Assets | 6.5B | 6.3B | 5.4B | 4.9B | 4.3B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 345.3M | 276.4M | 237.9M | 189.4M | 163.3M |
| Short-term Debt | 1.2B | 21.1M | 793.1M | 20.5M | 16.5M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | 15.0M | - |
| Total Current Liabilities | 2.9B | 1.6B | 1.8B | 720.8M | 614.1M |
| Non-Current Liabilities | |||||
| Long-term Debt | 1.4B | 2.6B | 1.4B | 2.1B | 1.8B |
| Deferred Tax Liabilities | - | - | 4.9M | 5.9M | - |
| Other Non-Current Liabilities | 18.1M | 5.2M | 5.9M | 8.2M | 26.9M |
| Total Non-Current Liabilities | 1.4B | 2.6B | 1.4B | 2.2B | 1.8B |
| Total Liabilities | 4.4B | 4.2B | 3.3B | 2.9B | 2.5B |
| Equity | |||||
| Common Stock | 400.0K | 400.0K | 400.0K | 400.0K | 100.0K |
| Retained Earnings | 1.6B | 1.0B | 479.9M | 138.7M | -202.1M |
| Treasury Stock | 1.6B | 2.5B | 595.0M | 206.2M | 100.0M |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 2.1B | 2.1B | 2.1B | 2.0B | 1.8B |
| Key Metrics | |||||
| Total Debt | 2.6B | 2.6B | 2.1B | 2.2B | 1.8B |
| Working Capital | 1.4B | 2.9B | 1.8B | 3.0B | 2.8B |
Balance Sheet Composition
Dexcom Cash Flow Statement From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 576.2M | 541.5M | 341.2M | 216.9M | 493.6M |
| Depreciation & Amortization | 217.7M | 186.0M | 155.9M | 102.0M | 67.1M |
| Stock-Based Compensation | 170.4M | 150.8M | 126.5M | 113.4M | 119.4M |
| Working Capital Changes | 174.6M | -53.3M | 149.8M | -121.1M | -44.5M |
| Operating Cash Flow | 1.1B | 693.9M | 792.8M | 464.9M | 446.0M |
| Investing Activities | |||||
| Capital Expenditures | -358.8M | -236.6M | -364.8M | -389.2M | -199.0M |
| Acquisitions | 0 | 0 | -3.9M | -30.2M | 0 |
| Investment Purchases | -2.7B | -3.2B | -2.3B | -2.5B | -3.1B |
| Investment Sales | 2.8B | 2.9B | 2.1B | 2.7B | 2.3B |
| Investing Cash Flow | -207.5M | -507.2M | -521.5M | -216.1M | -1.0B |
| Financing Activities | |||||
| Share Repurchases | -750.0M | -688.7M | -557.7M | 0 | 0 |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | 0 | 1.2B | 0 | 0 | 1.2B |
| Debt Repayment | 0 | -787.3M | 0 | 0 | -282.6M |
| Financing Cash Flow | -734.8M | -318.6M | -552.5M | 10.4M | 912.1M |
| Free Cash Flow | 630.7M | 511.9M | 304.7M | 53.3M | 276.6M |
| Net Change in Cash | 113.0M | -131.9M | -281.2M | 259.2M | 340.1M |
Cash Flow Trend
Dexcom Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
56.46
Forward P/E
39.49
Price to Book
12.22
Price to Sales
7.31
PEG Ratio
39.49
Profitability Ratios
Profit Margin
13.29%
Operating Margin
18.37%
Return on Equity
22.83%
Return on Assets
6.08%
Financial Health
Current Ratio
1.52
Debt to Equity
100.24
Beta
1.44
Per Share Data
EPS (TTM)
$1.42
Book Value per Share
$6.56
Revenue per Share
$10.97
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| dxcm | 31.4B | 56.46 | 12.22 | 22.83% | 13.29% | 100.24 |
| Abbott Laboratories | 229.3B | 16.53 | 4.53 | 30.93% | 32.43% | 26.50 |
| Boston Scientific | 152.9B | 61.41 | 6.81 | 11.55% | 13.55% | 53.09 |
| Stryker | 144.4B | 50.16 | 6.81 | 14.25% | 12.25% | 80.83 |
| Medtronic plc | 119.0B | 25.72 | 2.48 | 9.51% | 13.90% | 61.39 |
| Edwards Lifesciences | 45.6B | 32.50 | 4.33 | 15.53% | 72.96% | 6.62 |
Financial data is updated regularly. All figures are in the company's reporting currency.