DexCom, Inc.DXCM
NasdaqGS•Healthcare•Medical Devices
DexCom, Inc., a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems for the management of diabetes and metabolic health in the United States and internationally. The company offers Dexcom G7 and G7 15 Day, an integrated continuous glucose monitoring system; Dexcom G6, a CGM system; Dexcom ONE+ to replace fingerstick blood glucose testing for diabetes treatment decisions; Stelo, a biosensor designed for adults with prediabetes and Type 2 diabetes who do not use insulin; Dexcom Share, a remote monitoring system; and Dexcom Follow application. It markets its products directly to endocrinologists, physicians, and diabetes educators. The company was incorporated in 1999 and is headquartered in San Diego, California.
DexCom, Inc. (DXCM) reported trailing twelve months revenue of $4.82B as of March 2026, a 16.1% increase year-over-year. Quarterly revenue reached $1.19B, reflecting continued top-line momentum.
DexCom, Inc. generated $930.40M in TTM net income, with quarterly EBITDA of $322.40M. The operating margin expanded from 12.9% to 21.4%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (21.4%) and net margin (16.7%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 10.2% a year ago, signaling stronger bottom-line efficiency.
DXCM trades at a P/E of 25.6x (in line with broad market averages) and a P/S of 4.9x. The price-to-book ratio of 8.1x indicates a significant premium over book value.
The company generated $449.00M in free cash flow over the trailing twelve months, a 363.8% increase year-over-year, indicating cash generation ability. The balance sheet shows $6.63B in total assets with no in long-term debt against $2.96B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~18.3%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 27.9% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~22.4% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~21.4% — no sign of cost or pricing stress.
FCF covers net income by 1.3x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 3.5% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation