FirmAtlas
Company handbook · DXCM · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
DXCM · CIK 1093557 · LATEST FILING: 10-Q JUN '26 · FILED JUL 30, 2026
DEXCOM, INC.
$86.04
−1.67 (−1.90%)
Close, Oct 16, 2026 · 52-week $54–93
Last fiscal year
DEXCOM, INC. reported revenue of $4.7B for the year ended Dec 31, 2025 (FY25), up 15.6% from FY24. Net income was $836M, operating cash flow $1.4B and free cash flow $1.1B. Source: 10-K filed Feb 12, 2026.
Market cap
$33.1B
P/E
33.1
EV/EBITDA
27.7x
P/B
12.6
ROIC
40.6%
Revenue 1Y
15.6%/yr
EPS 1Y
47.2%/yr
Shares 1Y
−2%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
HQSan Diego, CA
AuditorDeloitte & Touche LLP
Employees11,100
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
15.5%
−8.8%
2.9%
29.7%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$2.0B deployed
Capex
$722M
36.6%
Buybacks
$1.2B
63.4%
Operating cash flow over the period: $2.4B. Total debt changed by −$4M. R&D of $1.2B is already inside operating costs.
More cash than debt at the end of FY25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Per-share figures are split-adjusted (4-for-1 split after FY20).
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
4,033
4,662+15.6%
4,969
YoY
+15.6%
Gross profit
2,438
2,802+14.9%
3,104
Gross margin
60.5%
60.1%−0.4 pp
—
Operating income
600
912+52.0%
1,139
Operating margin
14.9%
19.6%+4.7 pp
—
EBITDA
818
1,164+42.3%
—
EBITDA margin
20.3%
25.0%+4.7 pp
—
Interest expense
15
14−4.0%
—
Interest coverage
54.88x
81.37x+26.49x
—
Net income
576
836+45.1%
1,000
YoY
+45.1%
Net margin
14.3%
17.9%+3.7 pp
—
EPS (diluted, $)
1.42
2.09+47.2%
2.54
YoY
+47.2%
Balance sheet
Total assets
6,484
6,340−2.2%
6,455
Cash & short-term investments
607
919+51.3%
—
Accounts receivable
1,006
1,216+20.9%
—
Inventory
543
629+15.9%
—
Net PP&E
1,340
1,560+16.4%
—
Other assets
2,989
2,016−32.6%
—
Total liabilities
4,382
3,594−18.0%
3,834
Total debt
65
60−6.8%
52
Other liabilities
4,317
3,533−18.2%
—
Shareholders’ equity
2,103
2,746+30.6%
2,621
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
990
1,441+45.6%
1,749
Net income
576
836+45.1%
—
Depreciation & amortization
218
252+15.7%
—
Stock-based compensation
170
160−6.3%
—
Working capital & other
25
193+665.9%
—
Cash from investing
(208)
536n/m
—
Capex
(359)
(364)n/m
—
Acquisitions
0
—
—
Investments bought
(2,576)
(1,247)n/m
—
Investments sold / matured
2,824
2,165−23.4%
—
Other investing
(97)
(19)n/m
—
Cash from financing
(735)
(1,686)n/m
—
Buybacks
(750)
(500)n/m
—
Shares issued
28
28−0.4%
—
Other financing
(13)
(1,214)n/m
—
Net change in cash
40
312+683.4%
—
Free cash flow (OCF − capex)
631
1,077+70.8%
1,405
Where the cash went
Operating cash flow
990
1,441+45.6%
1,749
Reinvested in the business
359
364+1.3%
—
% of operating cash flow
36.3%
25.2%
Capex
359
364+1.3%
344
Acquisitions
0
—
—
R&D (memo, already in costs)
552
599+8.5%
—
Free cash flow
631
1,077+70.8%
1,405
YoY
+70.8%
Returned to shareholders
750
500−33.3%
—
% of free cash flow
118.9%
46.4%
Buybacks
750
500−33.3%
—
Change in total debt
—
(4)
—
Cash left over
—
573
—
FCF conversion (FCF ÷ net income)
109.5%
128.8%+19.3 pp
—
Owner earnings
—
428
—
Owner earnings margin
—
9.2%
—
Returns & ratios
ROIC (all capital)
31.3%
40.6%+9.4 pp
—
ROIC (operating)
16.9%
22.3%+5.4 pp
—
Net debt / EBITDA
−0.66x
−0.74x−0.07x
—
Debt / equity
0.03x
0.02x−0.01x
—
ROE
27.4%
30.5%+3.1 pp
—
ROA
8.9%
13.2%+4.3 pp
—
ROCE
16.9%
21.7%+4.8 pp
—
NOPAT
488
701+43.7%
—
Invested capital (operating)
2,888
3,405+17.9%
—
Invested capital (all)
1,560
1,887+21.0%
—
Reinvestment rate
—
73.8%
—
Debtor days
91
95+4 d
—
Inventory days
124
123−1 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
1,209
1,260
1,192
1,308
vs year-ago quarter
Gross profit
731
793
750
830
Gross margin
60.5%
62.9%
62.9%
63.4%
Operating income
242
323
255
318
Net income
284
267
200
249
vs year-ago quarter
Net margin
23.5%
21.2%
16.7%
19.0%
EPS (diluted, $)
0.70
0.69
0.51
0.64
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
7,500
6,340
6,633
6,455
Cash & equivalents
1,837
919
1,118
1,105
Total debt
55
60
54
52
Shareholders’ equity
2,726
2,746
2,957
2,621
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
660
294
526
269
Capex
81
102
77
85
Free cash flow
579
192
449
184
vs year-ago quarter