Dexcom

Health Care Health Care Equipment San Diego, California Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$4.7B
                    3y CAGR +17.0%
                    
                    P95
                    
                    +15.6%
                    
                    Net income
                    FY2025
                
$836.3M
                    Net margin +17.9%
                    
                    P73
                    
                    +45.1%
                    
                    Total assets
                    FY2025
                
$6.3B
                    ROA +13.2%
                    
                    P82
                    
                    -2.2%
                    
                    Operating cash flow
                    FY2025
                
$1.4B
                    FCF margin +23.1%
                    
                    P84
                    
                    +45.6%

17 yrs · FY2009–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

32 accounts · 10 years

Total assets $6.3B

Total liabilities $3.6B

Shareholders equity $2.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	$917.7M 51.4%	$606.1M 7.0%	$566.3M -11.8%	$642.3M -39.0%	$1.1B 28.7%	$817.6M 83.2%	$446.2M -60.8%	$1.1B 157.5%	$441.5M 367.2%	$94.5M
Short Term Investments	$218.0M -87.4%	$1.7B -19.9%	$2.2B 19.3%	$1.8B 33.1%	$1.4B	—	—	—	$107.1M 266.8%	$29.2M
Accounts Receivable	$1.2B 20.9%	$1.0B 3.3%	$973.9M 36.5%	$713.3M 38.7%	$514.3M 20.0%	$428.5M 49.7%	$286.3M 26.3%	$226.7M 68.8%	$134.3M 32.1%	$101.7M
Inventory	$629.1M 15.9%	$542.6M -3.0%	$559.6M 82.5%	$306.7M -14.2%	$357.3M 52.2%	$234.7M 95.9%	$119.8M 69.4%	$70.7M 56.4%	$45.2M -0.4%	$45.4M
Prepaid Expenses	$189.4M 9.0%	$173.7M 3.2%	$168.3M -12.6%	$192.6M 136.0%	$81.6M 51.4%	$53.9M 79.7%	$30.0M 81.8%	$16.5M -0.6%	$16.6M 80.4%	$9.2M
Other Current Assets	$29.2M -26.4%	$39.7M -19.5%	$49.3M 33.2%	$37.0M	—	—	—	—	—	—
Total Current Assets	$4.0B -6.2%	$4.3B -2.8%	$4.4B 20.6%	$3.7B -0.4%	$3.7B 7.6%	$3.4B 73.9%	$2.0B 15.9%	$1.7B 128.2%	$744.7M 166.0%	$280.0M
Property,Plant and Equipment	$1.6B 16.4%	$1.3B 20.4%	$1.1B 5.4%	$1.1B 31.7%	$801.8M 55.6%	$515.3M 60.4%	$321.3M 75.5%	$183.1M 25.8%	$145.6M 33.1%	$109.4M
Operating Lease Assets	$77.4M 23.2%	$62.8M -12.0%	$71.4M -10.8%	$80.0M -9.2%	$88.1M -5.6%	$93.3M 30.5%	$71.5M	—	—	—
Goodwill	$24.2M 6.1%	$22.8M -9.5%	$25.2M -1.9%	$25.7M -3.0%	$26.5M 37.3%	$19.3M 3.8%	$18.6M -0.5%	$18.7M 54.5%	$12.1M 7.1%	$11.3M
Intangible Assets	$70.8M -31.5%	$103.4M -23.1%	$134.5M -22.4%	$173.3M	$0	$0	$0	$0	$0	$0
Long Term Investments	$218.0M 82.7%	$119.3M 209.9%	$38.5M 102.6%	$19.0M	—	—	—	—	—	—
Deferred Tax Assets	$295.6M -38.6%	$481.2M 14.7%	$419.4M 22.9%	$341.2M 54.5%	$220.8M 2.0%	$216.4M -38.5%	$351.7M 5.3%	$334.1M 19.3%	$280.0M 41.6%	$197.8M
Other Noncurrent Assets	$278.7M 61.1%	$173.0M 130.7%	$75.0M 59.2%	$47.1M 12.1%	$42.0M 96.3%	$21.4M 50.7%	$14.2M -3.4%	$14.7M 764.7%	$1.7M -10.5%	$1.9M
Total Assets	$6.3B -2.2%	$6.5B 3.5%	$6.3B 16.2%	$5.4B 10.9%	$4.9B 13.4%	$4.3B 79.1%	$2.4B 25.0%	$1.9B 111.9%	$904.1M 124.5%	$402.8M
Liabilities
Accounts Payable	$344.3M -0.3%	$345.3M 24.9%	$276.4M 16.2%	$237.9M 21.4%	$196.0M 20.0%	$163.3M 59.6%	$102.3M 35.5%	$75.5M 61.7%	$46.7M 90.6%	$24.5M
Accrued Liabilities	$45.8M 23.5%	$37.1M -8.4%	$40.5M -18.8%	$49.9M 4.2%	$47.9M 9.4%	$43.8M 11.2%	$39.4M 131.8%	$17.0M 58.9%	$10.7M -46.5%	$20.0M
Operating Lease Liabilities	$21.6M -4.0%	$22.5M 6.6%	$21.1M 2.9%	$20.5M 0.0%	$20.5M 24.2%	$16.5M 21.3%	$13.6M	—	—	—
Other Current Liabilities	$7.7M	—	—	—	—	—	—	—	—	—
Total Current Liabilities	$2.1B -26.9%	$2.9B 88.4%	$1.6B -15.4%	$1.8B 155.2%	$720.8M 17.4%	$614.1M 70.5%	$360.2M 62.0%	$222.4M 60.1%	$138.9M 35.6%	$102.4M
Long Term Debt	$0	$0	$0	$0	$0	$0	$0	$0 -100.0%	$8.0M	$0
Operating Lease Liabilities Noncurrent	$73.4M 12.9%	$65.0M -18.9%	$80.1M -15.3%	$94.6M -4.1%	$98.6M -3.1%	$101.8M 40.6%	$72.4M	—	—	—
Other Noncurrent Liabilities	$137.1M -7.3%	$147.9M 17.8%	$125.6M -2.1%	$128.3M 42.6%	$90.0M 11.2%	$80.9M 302.5%	$20.1M 0.5%	$20.0M 9.9%	$18.2M 9.6%	$16.6M
Total Liabilities	$3.6B -18.0%	$4.4B 4.4%	$4.2B 28.7%	$3.3B 24.8%	$2.6B 6.0%	$2.5B 62.9%	$1.5B 20.7%	$1.3B 158.4%	$484.7M 307.3%	$119.0M
Equity
Preferred Stock	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Common Stock	$400.0K 0.0%	$400.0K 0.0%	$400.0K 0.0%	$400.0K 300.0%	$100.0K 0.0%	$100.0K 0.0%	$100.0K 0.0%	$100.0K 0.0%	$100.0K 0.0%	$100.0K
Additional Paid In Capital	$2.3B 9.0%	$2.1B -40.4%	$3.5B 55.6%	$2.3B -9.8%	$2.5B 17.8%	$2.1B 26.8%	$1.7B 7.4%	$1.6B 42.7%	$1.1B 20.8%	$905.7M
Retained Earnings	$2.4B 52.3%	$1.6B 56.4%	$1.0B 112.8%	$479.9M 1112.4%	$-47.4M 76.5%	$-202.1M 71.0%	$-695.7M 12.9%	$-798.9M -18.9%	$-671.8M -8.2%	$-621.0M
Treasury Stock	$2.1B 31.8%	$1.6B -35.5%	$2.5B 311.9%	$595.0M 188.6%	$206.2M 106.2%	$100.0M 0.0%	$100.0M 0.0%	$100.0M	$0	$0
Accumulated Other Comprehensive Income	$115.0M 1537.5%	$-8.0M 52.1%	$-16.7M -44.0%	$-11.6M -2420.0%	$500.0K -84.4%	$3.2M 39.1%	$2.3M 53.3%	$1.5M 157.7%	$-2.6M -160.0%	$-1.0M
Total Stockholders Equity	$2.7B 30.6%	$2.1B 1.6%	$2.1B -3.0%	$2.1B 4.4%	$2.0B 31.6%	$1.6B 75.8%	$882.6M 33.1%	$663.3M 58.2%	$419.4M 47.8%	$283.8M
Total Liabilitiesand Equity	$6.3B -2.2%	$6.5B 3.5%	$6.3B 16.2%	$5.4B 10.9%	$4.9B 13.4%	$4.3B 79.1%	$2.4B 25.0%	$1.9B 111.9%	$904.1M 124.5%	$402.8M

Income Statement

Revenue, expense, and profitability

19 accounts · 10 years

Revenue $4.7B

Operating income $911.8M

Net income $836.3M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	$4.7B 15.6%	$4.0B 11.3%	$3.6B 24.5%	$2.9B 18.8%	$2.4B 27.1%	$1.9B 30.5%	$1.5B 43.1%	$1.0B 43.6%	$718.5M 25.3%	$573.3M
Expenses Cost of Revenue	$1.9B 16.6%	$1.6B 19.6%	$1.3B 29.9%	$1.0B 33.7%	$768.0M 18.8%	$646.6M 18.8%	$544.5M 48.1%	$367.7M 62.4%	$226.4M 16.2%	$194.9M
Expenses Research and Development	$599.1M 8.5%	$552.4M 9.2%	$505.8M 4.5%	$484.2M -6.4%	$517.1M 43.7%	$359.9M 31.6%	$273.5M 37.0%	$199.7M 7.7%	$185.4M 18.8%	$156.1M
Expenses Selling,General and Administrative	$1.3B 0.4%	$1.3B 8.5%	$1.2B 17.6%	$1.0B 24.3%	$810.5M 31.1%	$618.2M 19.9%	$515.7M 19.2%	$432.8M 23.9%	$349.2M 22.0%	$286.2M
Expenses Depreciation and Amortization	$251.8M 15.7%	$217.7M 17.0%	$186.0M 19.3%	$155.9M 52.8%	$102.0M 52.0%	$67.1M 37.8%	$48.7M 67.4%	$29.1M 80.7%	$16.1M 7.3%	$15.0M
Expenses Share Based Compensation	$159.6M -6.3%	$170.4M 13.0%	$150.8M 19.2%	$126.5M 11.6%	$113.4M -5.0%	$119.4M 16.3%	$102.7M 0.8%	$101.9M -4.0%	$106.2M -4.2%	$110.8M
Expenses Operating Expenses	$1.9B 2.8%	$1.8B 8.7%	$1.7B 13.4%	$1.5B 5.5%	$1.4B 44.3%	$980.6M 24.3%	$789.2M -7.2%	$850.2M 59.0%	$534.6M 20.9%	$442.3M
Other Income Expense Gross Profit	$2.8B 14.9%	$2.4B 6.5%	$2.3B 21.5%	$1.9B 12.1%	$1.7B 31.3%	$1.3B 37.4%	$931.5M 40.3%	$663.9M 34.9%	$492.1M 30.0%	$378.4M
Other Income Expense Operating Income	$911.8M 52.0%	$600.0M 0.4%	$597.7M 52.8%	$391.2M 47.2%	$265.8M -11.3%	$299.5M 110.5%	$142.3M 176.4%	$-186.3M -338.4%	$-42.5M 33.5%	$-63.9M
Other Income Expense Interest Expense	$18.3M -3.7%	$19.0M -6.4%	$20.3M 9.1%	$18.6M -1.1%	$18.8M 6.2%	$17.7M -70.6%	$60.3M 165.6%	$22.7M 77.3%	$12.8M 1728.6%	$700.0K
Other Income Expense Other Income/expense	$176.6M 62.0%	$109.0M -3.3%	$112.7M 28275.0%	$-400.0K 95.6%	$-9.0M -155.9%	$16.1M -39.0%	$26.4M 1000.0%	$2.4M -64.2%	$6.7M 1057.1%	$-700.0K
Other Income Expense Income Before Tax	$1.1B 53.5%	$709.0M -0.2%	$710.4M 81.8%	$390.8M 52.2%	$256.8M -13.8%	$297.9M 185.9%	$104.2M 182.4%	$-126.5M -160.3%	$-48.6M 25.1%	$-64.9M
Income Tax Income Tax Expense	$252.1M 89.8%	$132.8M -21.4%	$168.9M 240.5%	$49.6M 24.3%	$39.9M 115.8%	$-251.8M -8222.6%	$3.1M 416.7%	$600.0K -62.5%	$1.6M 128.6%	$700.0K
net Income net Income	$836.3M 45.1%	$576.2M 6.4%	$541.5M 58.7%	$341.2M 57.3%	$216.9M -60.5%	$549.7M 443.7%	$101.1M 179.5%	$-127.1M -153.2%	$-50.2M 23.5%	$-65.6M
net Income Comprehensive Income	$959.3M 64.0%	$584.9M 9.0%	$536.4M 63.0%	$329.1M 53.6%	$214.2M -61.1%	$550.6M 440.3%	$101.9M 182.8%	$-123.0M -137.5%	$-51.8M 21.9%	$-66.3M
Earnings Per Share Basic Eps	$2 46.6%	$1 4.3%	$1 59.1%	$1 57.1%	$1 -61.6%	$1 31.5%	$1 177.1%	$-1 -148.3%	$-1	—
Earnings Per Share Diluted Eps	$2 47.2%	$1 9.2%	$1 58.5%	$1 54.7%	$1 -60.2%	$1 20.9%	$1 176.4%	$-1 -148.3%	$-1	—
Earnings Per Share Weighted Average Shares Basic	$390.2M -0.9%	$393.6M 2.0%	$386.0M -0.9%	$389.4M 0.6%	$386.9M 2.5%	$377.5M 314.4%	$91.1M 3.3%	$88.2M 2.2%	$86.3M	—
Earnings Per Share Weighted Average Shares Diluted	$405.5M -1.7%	$412.7M -3.0%	$425.5M -0.5%	$427.5M -0.3%	$428.8M 2.0%	$420.4M 355.5%	$92.3M 4.6%	$88.2M 2.2%	$86.3M	—

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 10 years

Operating cash flow $1.4B

Investing cash flow $536.0M

Financing cash flow $-1.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	$836.3M 45.1%	$576.2M 6.4%	$541.5M 58.7%	$341.2M 57.3%	$216.9M -60.5%	$549.7M 443.7%	$101.1M 179.5%	$-127.1M -153.2%	$-50.2M 23.5%	$-65.6M
Operating Activities Depreciation and Amortization	$39.5M -1.0%	$39.9M -4.8%	$41.9M -10.3%	$46.7M -51.5%	$96.3M 50.5%	$64.0M 36.5%	$46.9M 64.0%	$28.6M 77.6%	$16.1M 11.8%	$14.4M
Operating Activities Stock Based Compensation	$159.6M -6.3%	$170.4M 13.0%	$150.8M 19.2%	$126.5M 11.6%	$113.4M -5.0%	$119.4M 16.3%	$102.7M 0.8%	$101.9M -4.0%	$106.2M -4.2%	$110.8M
Operating Activities Deferred Income Taxes	$182.2M 516.0%	$-43.8M 20.4%	$-55.0M -154.6%	$-21.6M -236.7%	$15.8M 106.1%	$-260.5M -130350.0%	$200.0K 109.1%	$-2.2M	$0 100.0%	$-200.0K
Operating Activities Changes In Operating Assets and Liabilities	$280.4M 887.3%	$28.4M -94.2%	$493.4M 74.8%	$282.2M 35.0%	$209.0M -19.4%	$259.2M 122.9%	$116.3M -4.4%	$121.7M 202.0%	$40.3M -1.7%	$41.0M
Operating Activities net Cash From Operating Activities	$1.4B 45.6%	$989.5M 32.2%	$748.5M 11.8%	$669.5M 51.3%	$442.5M -7.0%	$475.6M 51.2%	$314.5M 155.3%	$123.2M 33.9%	$92.0M 63.7%	$56.2M
Investing Activities Capital Expenditures	$363.5M 1.3%	$358.8M 51.6%	$236.6M -35.1%	$364.8M -6.3%	$389.2M 95.6%	$199.0M 10.6%	$180.0M 168.3%	$67.1M 1.7%	$66.0M 18.5%	$55.7M
Investing Activities Purchases of Investments	$1.2B -51.6%	$2.6B -19.5%	$3.2B 41.2%	$2.3B -8.4%	$2.5B -19.1%	$3.1B 50.6%	$2.0B 348.7%	$452.5M 163.4%	$171.8M 338.3%	$39.2M
Investing Activities Proceeds From Sale of Investments	$2.2B -23.4%	$2.8B -4.2%	$2.9B 38.5%	$2.1B -20.2%	$2.7B 18.5%	$2.3B 88.1%	$1.2B 205.1%	$392.1M 319.8%	$93.4M 141.3%	$38.7M
Investing Activities Other Investing Activities	$-600.0K -103.9%	$15.5M 915.8%	$-1.9M -850.0%	$-200.0K 98.0%	$-10.1M -189.4%	$11.3M 841.7%	$1.2M 20.0%	$1.0M	—	—
Investing Activities net Cash From Investing Activities	$536.0M 358.3%	$-207.5M 59.1%	$-507.2M 2.7%	$-521.5M -141.3%	$-216.1M 78.8%	$-1.0B -0.3%	$-1.0B -626.2%	$-139.8M 3.2%	$-144.4M -158.3%	$-55.9M
Financing Activities Repurchase of Common Stock	$500.0M -33.3%	$750.0M 8.9%	$688.7M 23.5%	$557.7M	$0	$0	$0 -100.0%	$100.0M	$0	$0
Financing Activities Proceeds From Stock Issuance	$28.1M -0.4%	$28.2M 6.0%	$26.6M 18.2%	$22.5M 10.8%	$20.3M 32.7%	$15.3M 28.6%	$11.9M 10.2%	$10.8M 6.9%	$10.1M -2.9%	$10.4M
Financing Activities Other Financing Activities	$-7.0M 46.2%	$-13.0M -966.7%	$1.5M 108.7%	$-17.3M -74.7%	$-9.9M -5.3%	$-9.4M -683.3%	$-1.2M 36.8%	$-1.9M	$0 100.0%	$-2.3M
Financing Activities net Cash From Financing Activities	$-1.7B -129.5%	$-734.8M -130.6%	$-318.6M 42.3%	$-552.5M -5412.5%	$10.4M -98.9%	$912.1M 8424.3%	$10.7M -98.5%	$710.4M 78.0%	$399.1M 4827.2%	$8.1M
Cash Reconciliation Effect of Exchange Rate On Cash	$21.5M 390.5%	$-7.4M -593.3%	$1.5M 125.9%	$-5.8M -314.3%	$-1.4M -166.7%	$2.1M 400.0%	$-700.0K -138.9%	$1.8M 500.0%	$300.0K	$0
Cash Reconciliation net Change In Cash	$311.8M 683.4%	$39.8M 152.5%	$-75.8M 81.5%	$-410.3M -274.3%	$235.4M -36.7%	$371.8M 153.8%	$-690.7M -199.3%	$695.6M 100.5%	$347.0M 4031.0%	$8.4M
Cash Reconciliation Cash At Beginning of Period	$919.1M 51.3%	$607.3M 7.0%	$567.5M -11.8%	$643.3M -38.9%	$1.1B 28.8%	$818.2M 83.3%	$446.4M -60.7%	$1.1B 157.6%	$441.5M 367.2%	$94.5M
Cash Reconciliation Cash At End of Period	$919.1M 51.3%	$607.3M 7.0%	$567.5M -11.8%	$643.3M -38.9%	$1.1B 28.8%	$818.2M 83.3%	$446.4M -60.7%	$1.1B 157.6%	$441.5M 367.2%	$94.5M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+60.1%	+60.5%	+63.2%	+64.7%	+68.6%	+66.4%	+63.1%	+64.4%	+68.5%	+66.0%
Operating margin	+19.6%	+14.9%	+16.5%	+13.4%	+10.9%	+15.5%	+9.6%	-18.1%	-5.9%	-11.1%
Net margin	+17.9%	+14.3%	+14.9%	+11.7%	+8.9%	+28.5%	+6.8%	-12.3%	-7.0%	-11.4%
FCF margin	+23.1%	+15.6%	+14.1%	+10.5%	+2.2%	+14.4%	+9.1%	+5.4%	+3.6%	+0.1%
Growth
Revenue CAGR (3y)	+17.0%	+18.1%	+23.4%	+25.4%	+33.4%	+38.9%	+37.1%	+36.9%	+40.5%	+53.0%
Returns
ROE	+30.5%	+27.4%	+26.2%	+16.0%	+10.6%	+35.4%	+11.5%	-19.2%	-12.0%	-23.1%
ROA	+13.2%	+8.9%	+8.6%	+6.3%	+4.5%	+12.8%	+4.2%	-6.6%	-5.6%	-16.3%
ROIC	+38.3%	+32.6%	+30.3%	+22.9%	+22.7%	+40.8%	+31.6%	+39.3%	+301.4%	-33.8%
Liquidity
Current ratio	1.88x	1.47x	2.84x	1.99x	5.11x	5.58x	5.47x	7.64x	5.36x	2.73x
Quick ratio	1.00x	0.55x	0.99x	0.74x	2.17x	2.03x	2.03x	6.13x	4.15x	1.92x
Leverage
D/E	1.31x	2.08x	2.03x	1.53x	1.28x	1.59x	1.71x	1.89x	1.16x	0.42x
Interest coverage	49.83x	31.58x	29.44x	21.03x	14.14x	16.92x	2.36x	-8.21x	-3.32x	-91.29x
Efficiency
Asset turnover	0.74x	0.62x	0.58x	0.54x	0.50x	0.45x	0.62x	0.54x	0.79x	1.42x
Cash conversion cycle	+151d	+136d	+176d	+114d	+153d	+121d	+83d	+75d	+66d	+104d

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Dexcom

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