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 · 3 years

Total assets $6.3B

Total liabilities $3.6B

Shareholders equity $2.7B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$917.7M 51.4%	$606.1M 7.0%	$566.3M
Short Term Investments	$218.0M -87.4%	$1.7B -19.9%	$2.2B
Accounts Receivable	$1.2B 20.9%	$1.0B 3.3%	$973.9M
Inventory	$629.1M 15.9%	$542.6M -3.0%	$559.6M
Prepaid Expenses	$189.4M 9.0%	$173.7M 3.2%	$168.3M
Other Current Assets	$29.2M -26.4%	$39.7M -19.5%	$49.3M
Total Current Assets	$4.0B -6.2%	$4.3B -2.8%	$4.4B
Property,Plant and Equipment	$1.6B 16.4%	$1.3B 20.4%	$1.1B
Operating Lease Assets	$77.4M 23.2%	$62.8M -12.0%	$71.4M
Goodwill	$24.2M 6.1%	$22.8M -9.5%	$25.2M
Intangible Assets	$70.8M -31.5%	$103.4M -23.1%	$134.5M
Long Term Investments	$218.0M 82.7%	$119.3M 209.9%	$38.5M
Deferred Tax Assets	$295.6M -38.6%	$481.2M 14.7%	$419.4M
Other Noncurrent Assets	$278.7M 61.1%	$173.0M 130.7%	$75.0M
Total Assets	$6.3B -2.2%	$6.5B 3.5%	$6.3B
Liabilities
Accounts Payable	$344.3M -0.3%	$345.3M 24.9%	$276.4M
Accrued Liabilities	$45.8M 23.5%	$37.1M -8.4%	$40.5M
Operating Lease Liabilities	$21.6M -4.0%	$22.5M 6.6%	$21.1M
Other Current Liabilities	$7.7M	—	—
Total Current Liabilities	$2.1B -26.9%	$2.9B 88.4%	$1.6B
Long Term Debt	$0	$0	$0
Operating Lease Liabilities Noncurrent	$73.4M 12.9%	$65.0M -18.9%	$80.1M
Other Noncurrent Liabilities	$137.1M -7.3%	$147.9M 17.8%	$125.6M
Total Liabilities	$3.6B -18.0%	$4.4B 4.4%	$4.2B
Equity
Preferred Stock	$0	$0	$0
Common Stock	$400.0K 0.0%	$400.0K 0.0%	$400.0K
Additional Paid In Capital	$2.3B 9.0%	$2.1B -40.4%	$3.5B
Retained Earnings	$2.4B 52.3%	$1.6B 56.4%	$1.0B
Treasury Stock	$2.1B 31.8%	$1.6B -35.5%	$2.5B
Accumulated Other Comprehensive Income	$115.0M 1537.5%	$-8.0M 52.1%	$-16.7M
Total Stockholders Equity	$2.7B 30.6%	$2.1B 1.6%	$2.1B
Total Liabilitiesand Equity	$6.3B -2.2%	$6.5B 3.5%	$6.3B

Income Statement

Revenue, expense, and profitability

19 accounts · 3 years

Revenue $4.7B

Operating income $911.8M

Net income $836.3M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	$4.7B 15.6%	$4.0B 11.3%	$3.6B
Expenses Cost of Revenue	$1.9B 16.6%	$1.6B 19.6%	$1.3B
Expenses Research and Development	$599.1M 8.5%	$552.4M 9.2%	$505.8M
Expenses Selling,General and Administrative	$1.3B 0.4%	$1.3B 8.5%	$1.2B
Expenses Depreciation and Amortization	$251.8M 15.7%	$217.7M 17.0%	$186.0M
Expenses Share Based Compensation	$159.6M -6.3%	$170.4M 13.0%	$150.8M
Expenses Operating Expenses	$1.9B 2.8%	$1.8B 8.7%	$1.7B
Other Income Expense Gross Profit	$2.8B 14.9%	$2.4B 6.5%	$2.3B
Other Income Expense Operating Income	$911.8M 52.0%	$600.0M 0.4%	$597.7M
Other Income Expense Interest Expense	$18.3M -3.7%	$19.0M -6.4%	$20.3M
Other Income Expense Other Income/expense	$176.6M 62.0%	$109.0M -3.3%	$112.7M
Other Income Expense Income Before Tax	$1.1B 53.5%	$709.0M -0.2%	$710.4M
Income Tax Income Tax Expense	$252.1M 89.8%	$132.8M -21.4%	$168.9M
net Income net Income	$836.3M 45.1%	$576.2M 6.4%	$541.5M
net Income Comprehensive Income	$959.3M 64.0%	$584.9M 9.0%	$536.4M
Earnings Per Share Basic Eps	$2 46.6%	$1 4.3%	$1
Earnings Per Share Diluted Eps	$2 47.2%	$1 9.2%	$1
Earnings Per Share Weighted Average Shares Basic	$390.2M -0.9%	$393.6M 2.0%	$386.0M
Earnings Per Share Weighted Average Shares Diluted	$405.5M -1.7%	$412.7M -3.0%	$425.5M

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 3 years

Operating cash flow $1.4B

Investing cash flow $536.0M

Financing cash flow $-1.7B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	$836.3M 45.1%	$576.2M 6.4%	$541.5M
Operating Activities Depreciation and Amortization	$39.5M -1.0%	$39.9M -4.8%	$41.9M
Operating Activities Stock Based Compensation	$159.6M -6.3%	$170.4M 13.0%	$150.8M
Operating Activities Deferred Income Taxes	$182.2M 516.0%	$-43.8M 20.4%	$-55.0M
Operating Activities Changes In Operating Assets and Liabilities	$280.4M 887.3%	$28.4M -94.2%	$493.4M
Operating Activities net Cash From Operating Activities	$1.4B 45.6%	$989.5M 32.2%	$748.5M
Investing Activities Capital Expenditures	$363.5M 1.3%	$358.8M 51.6%	$236.6M
Investing Activities Purchases of Investments	$1.2B -51.6%	$2.6B -19.5%	$3.2B
Investing Activities Proceeds From Sale of Investments	$2.2B -23.4%	$2.8B -4.2%	$2.9B
Investing Activities Other Investing Activities	$-600.0K -103.9%	$15.5M 915.8%	$-1.9M
Investing Activities net Cash From Investing Activities	$536.0M 358.3%	$-207.5M 59.1%	$-507.2M
Financing Activities Repurchase of Common Stock	$500.0M -33.3%	$750.0M 8.9%	$688.7M
Financing Activities Proceeds From Stock Issuance	$28.1M -0.4%	$28.2M 6.0%	$26.6M
Financing Activities Other Financing Activities	$-7.0M 46.2%	$-13.0M -966.7%	$1.5M
Financing Activities net Cash From Financing Activities	$-1.7B -129.5%	$-734.8M -130.6%	$-318.6M
Cash Reconciliation Effect of Exchange Rate On Cash	$21.5M 390.5%	$-7.4M -593.3%	$1.5M
Cash Reconciliation net Change In Cash	$311.8M 683.4%	$39.8M 152.5%	$-75.8M
Cash Reconciliation Cash At Beginning of Period	$919.1M 51.3%	$607.3M 7.0%	$567.5M
Cash Reconciliation Cash At End of Period	$919.1M 51.3%	$607.3M 7.0%	$567.5M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+60.1%	+60.5%	+63.2%
Operating margin	+19.6%	+14.9%	+16.5%
Net margin	+17.9%	+14.3%	+14.9%
FCF margin	+23.1%	+15.6%	+14.1%
Growth
Revenue CAGR (3y)	+17.0%	+18.1%	+23.4%
Returns
ROE	+30.5%	+27.4%	+26.2%
ROA	+13.2%	+8.9%	+8.6%
ROIC	+38.3%	+32.6%	+30.3%
Liquidity
Current ratio	1.88x	1.47x	2.84x
Quick ratio	1.00x	0.55x	0.99x
Leverage
D/E	1.31x	2.08x	2.03x
Interest coverage	49.83x	31.58x	29.44x
Efficiency
Asset turnover	0.74x	0.62x	0.58x
Cash conversion cycle	+151d	+136d	+176d

Valuation

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FY2025 fundamentals · no price

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Dexcom

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