Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23%

Stock buyback support
Stock Buyback 3Y Total is 1.6 Bil

Low stock price volatility
Vol 12M is 43%

Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Digital Health & Telemedicine. Themes include Diabetes Management, Wearable Health Devices, Show more.

Weak multi-year price returns
2Y Excs Rtn is -85%, 3Y Excs Rtn is -111%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 22x, P/EPrice/Earnings or Price/(Net Income) is 30x

Key risks
DXCM key risks include [1] heightened regulatory scrutiny, Show more.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23%
1 Stock buyback support
Stock Buyback 3Y Total is 1.6 Bil
2 Low stock price volatility
Vol 12M is 43%
3 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Digital Health & Telemedicine. Themes include Diabetes Management, Wearable Health Devices, Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -85%, 3Y Excs Rtn is -111%
5 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 22x, P/EPrice/Earnings or Price/(Net Income) is 30x
6 Key risks
DXCM key risks include [1] heightened regulatory scrutiny, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

DexCom (DXCM) stock has lost about 5% since 12/31/2025 because of the following key factors:

1. DexCom's Q4 2025 earnings beat expectations, but its 2026 revenue outlook slightly lagged analyst consensus, creating a mixed financial sentiment. The company reported Q4 2025 earnings per share (EPS) of $0.68, surpassing analysts' consensus estimates of $0.65. Quarterly revenue for Q4 2025 also rose 13.1% year-over-year to $1.26 billion, exceeding the consensus estimate of $1.25 billion. However, DexCom's initial revenue guidance for fiscal year 2026, projected to be between $5.16 billion and $5.25 billion (an 11-13% growth over 2025), fell slightly below the analyst consensus midpoint of $5.24 billion. This combination of strong past performance and a slightly conservative future outlook likely contributed to the stock remaining largely level as investors balanced these factors.

2. Persistent regulatory scrutiny and product reliability concerns, including past FDA Class I recalls and a recent software correction, weighed on investor confidence. In March 2025, the FDA reported that inspections revealed DexCom's G6 and G7 continuous glucose monitors were "adulterated" due to an unauthorized design change, leading to Class I recalls and a class-action lawsuit alleging inaccurate readings. Furthermore, in January 2026, the FDA issued a Class I software correction for certain Dexcom G6 and G6 Pro Android app versions, citing potential unexpected shutdowns that could halt glucose readings and alerts, posing risks of serious injury or death. These ongoing regulatory and quality issues likely tempered positive investor sentiment from financial performance or product advancements.

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Stock Movement Drivers

Fundamental Drivers

The -3.5% change in DXCM stock from 12/31/2025 to 4/10/2026 was primarily driven by a -17.8% change in the company's P/E Multiple.
(LTM values as of)123120254102026Change
Stock Price ($)66.3764.02-3.5%
Change Contribution By: 
Total Revenues ($ Mil)4,5164,6623.2%
Net Income Margin (%)16.0%17.9%12.4%
P/E Multiple36.029.6-17.8%
Shares Outstanding (Mil)3913871.2%
Cumulative Contribution-3.5%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 4/10/2026
ReturnCorrelation
DXCM-3.5% 
Market (SPY)-5.4%35.8%
Sector (XLV)-4.8%45.3%

Fundamental Drivers

The -4.9% change in DXCM stock from 9/30/2025 to 4/10/2026 was primarily driven by a -35.9% change in the company's P/E Multiple.
(LTM values as of)93020254102026Change
Stock Price ($)67.2964.02-4.9%
Change Contribution By: 
Total Revenues ($ Mil)4,3014,6628.4%
Net Income Margin (%)13.3%17.9%35.0%
P/E Multiple46.229.6-35.9%
Shares Outstanding (Mil)3923871.4%
Cumulative Contribution-4.9%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 4/10/2026
ReturnCorrelation
DXCM-4.9% 
Market (SPY)-2.9%25.9%
Sector (XLV)6.3%33.8%

Fundamental Drivers

The -6.3% change in DXCM stock from 3/31/2025 to 4/10/2026 was primarily driven by a -36.1% change in the company's P/E Multiple.
(LTM values as of)33120254102026Change
Stock Price ($)68.2964.02-6.3%
Change Contribution By: 
Total Revenues ($ Mil)4,0334,66215.6%
Net Income Margin (%)14.3%17.9%25.6%
P/E Multiple46.329.6-36.1%
Shares Outstanding (Mil)3913871.0%
Cumulative Contribution-6.3%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2025 to 4/10/2026
ReturnCorrelation
DXCM-6.3% 
Market (SPY)16.3%39.7%
Sector (XLV)2.3%34.5%

Fundamental Drivers

The -44.9% change in DXCM stock from 3/31/2023 to 4/10/2026 was primarily driven by a -77.5% change in the company's P/E Multiple.
(LTM values as of)33120234102026Change
Stock Price ($)116.1864.02-44.9%
Change Contribution By: 
Total Revenues ($ Mil)2,9104,66260.2%
Net Income Margin (%)11.7%17.9%53.0%
P/E Multiple131.629.6-77.5%
Shares Outstanding (Mil)386387-0.1%
Cumulative Contribution-44.9%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2023 to 4/10/2026
ReturnCorrelation
DXCM-44.9% 
Market (SPY)63.3%27.2%
Sector (XLV)19.1%24.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
DXCM Return45%-16%10%-37%-15%-1%-29%
Peers Return58%-33%-19%8%-8%-9%-22%
S&P 500 Return27%-19%24%23%16%-0%82%

Monthly Win Rates [3]
DXCM Win Rate67%42%50%33%58%75% 
Peers Win Rate53%43%42%48%45%45% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
DXCM Max Drawdown-12%-49%-33%-48%-29%-7% 
Peers Max Drawdown-10%-45%-41%-24%-26%-15% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ABT, MDT, PODD, TNDM, SENS. See DXCM Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/10/2026 (YTD)

How Low Can It Go

Unique KeyEventDXCMS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-58.2%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven139.5%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-36.8%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven58.2%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven29 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-48.0%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven92.3%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven193 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-87.0%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven666.9%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven488 days1,480 days

Compare to ABT, MDT, PODD, TNDM, SENS

In The Past

DexCom's stock fell -58.2% during the 2022 Inflation Shock from a high on 11/17/2021. A -58.2% loss requires a 139.5% gain to breakeven.

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About DexCom (DXCM)

DexCom, Inc., a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include DexCom G6, an integrated CGM system for diabetes management; Dexcom Real-Time API, which enables invited third-party developers to integrate real-time CGM data into their digital health applications and devices; Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions; and Dexcom Share, a remote monitoring system. The company's products candidature comprises Dexcom G7, a next generation G7 CGM system. DexCom, Inc. has a collaboration and license agreement with Verily Life Sciences LLC and Verily Ireland Limited to develop blood-based or interstitial glucose monitoring products. The company markets its products directly to endocrinologists, physicians, and diabetes educators. DexCom, Inc. was incorporated in 1999 and is headquartered in San Diego, California.

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Here are 1-2 brief analogies for DexCom (DXCM):

  • Fitbit for blood sugar: Like how Fitbit continuously tracks activity and heart rate, DexCom continuously monitors glucose levels for people with diabetes.

  • Apple for diabetes management devices: DexCom provides sleek, user-friendly, and integrated continuous glucose monitoring systems that simplify a complex health condition, much like Apple simplifies technology.

AI Analysis | Feedback

  • DexCom G6: An integrated continuous glucose monitoring (CGM) system used for diabetes management.
  • Dexcom Real-Time API: An interface that enables third-party developers to integrate real-time CGM data into their digital health applications.
  • Dexcom ONE: A continuous glucose monitoring system designed to replace finger stick blood glucose testing for diabetes treatment decisions.
  • Dexcom Share: A remote monitoring system that allows for sharing of continuous glucose monitoring data.
  • Dexcom G7: A next-generation continuous glucose monitoring (CGM) system that is part of the company's product candidature.

AI Analysis | Feedback

DexCom (symbol: DXCM) sells primarily to individuals, specifically people with diabetes, through prescriptions facilitated by healthcare providers. The company also states that its systems are "for use by healthcare providers." Based on the provided background information, the major categories of customers it serves are:

  • Individuals with Type 1 Diabetes: These patients often require continuous and precise glucose monitoring for intensive insulin management.
  • Individuals with Type 2 Diabetes: This includes patients who use insulin or require close glucose monitoring to manage their condition effectively.
  • Healthcare Providers: This category encompasses endocrinologists, physicians, and diabetes educators. While not always the direct purchasers, these professionals are crucial customers for DexCom as they prescribe the devices to patients and are the direct recipients of the company's marketing efforts. DexCom also provides its systems for use by these providers, implying direct engagement and support for their clinical practice.

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Here is the management team for DexCom (DXCM):

Jacob Leach – President and Chief Executive Officer

Jacob "Jake" Leach is the President and Chief Executive Officer at Dexcom, a role he assumed effective January 1, 2026, succeeding Kevin R. Sayer. He joined Dexcom in 2004 and has over 20 years of experience in the continuous glucose monitoring industry. Prior to becoming CEO, he served as President and Chief Operating Officer, and before that, as Chief Technology Officer. Mr. Leach has been instrumental in supporting all major technology advancements at Dexcom, including the development of the first commercial Dexcom CGM system and all subsequent generations. He holds a Bachelor of Science degree in Electrical Engineering with a minor in Biomedical Engineering from the University of California, Los Angeles. He also serves on the Board of Directors at AdvaMed and is an Executive Committee member for the San Diego Economic Development Corporation.

Jereme Sylvain – Executive Vice President and Chief Financial Officer

Jereme Sylvain is the Executive Vice President and Chief Financial Officer at Dexcom, a position to which he was promoted in March 2021. In this role, he is responsible for Dexcom's finance organization and investor relations. Mr. Sylvain joined Dexcom in September 2018 as Vice President, Finance and Corporate Controller, and later served as Senior Vice President, Finance and Chief Accounting Officer. Before joining Dexcom, he held various positions at NuVasive, Inc., including Chief Accounting Officer and Vice President, Corporate Controller. His career also includes leadership roles at Thermo Fisher Scientific and experience with the public accounting firm Ernst & Young LLP. Mr. Sylvain received a Bachelor of Science degree in Finance from Arizona State University and a Master of Science in Accountancy from the University of Notre Dame, and is a Certified Public Accountant.

Michael Brown – Executive Vice President and Chief Legal Officer

Michael Brown serves as the Executive Vice President and Chief Legal Officer at Dexcom.

Jon Coleman – EVP, Chief Commercial Officer

Jon Coleman holds the position of Executive Vice President and Chief Commercial Officer at Dexcom.

Matthew Dolan – Executive Vice President, Strategy & Corporate Development & Dexcom Labs

Matthew Dolan is the Executive Vice President, Strategy & Corporate Development & Dexcom Labs at Dexcom.

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Here are the key risks to DexCom's business:

  1. Regulatory Scrutiny and Product Quality/Reliability Issues: DexCom faces significant risks related to regulatory compliance and the quality and reliability of its continuous glucose monitoring (CGM) systems. The U.S. FDA issued a warning letter to DexCom for unauthorized changes to a key sensor coating without submitting a premarket notification, which could increase risks for patients relying on CGMs for insulin dosing. Furthermore, FDA inspectors observed several quality control and process issues at DexCom's San Diego facility. There have been multiple recalls of DexCom G6 and G7 receivers due to defective foam or assembly errors that could lead to speaker malfunctions, preventing audible alerts for critical high or low blood glucose levels and potentially causing serious patient harm. DexCom's G7 system has also faced patient concerns regarding poor accuracy, failed sensor insertions, and abrupt stoppages. The company is currently facing class-action lawsuits alleging that it marketed defective G7 monitors, made unauthorized design changes, and that the devices provided inaccurate readings and failed to deliver critical alerts, leading to patient health risks and potentially severe consequences, including hospitalizations and alleged deaths.
  2. Intensifying Competition: The continuous glucose monitoring market is experiencing increasing competition, posing a formidable threat to DexCom's market share and pricing power. Competitors like Abbott Laboratories, with its FreeStyle Libre solutions, are often cited as a significant rival, offering more competitively priced products and gaining market share. Medtronic is also a notable competitor. The integration of competitors' glucose-ketone dual analyte sensors and pump systems could further complicate DexCom's gains in the Type 1 diabetes segment.
  3. Supply Chain and Manufacturing Challenges: DexCom relies on third-party suppliers and outsourced manufacturing, making its operations vulnerable to supply disruptions, quality issues, and price fluctuations. Manufacturing difficulties or disruptions at its facilities could adversely affect product sales and increase expenses. The company has experienced recent gross margin shortfalls and tempered margin forecasts due to supply issues, tariffs, foreign exchange headwinds, and increased scrap rates stemming from quality initiatives, highlighting vulnerabilities in its production and supply chain management.

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Addressable Markets for DexCom's Main Products and Services

DexCom, Inc. primarily operates within the continuous glucose monitoring (CGM) systems market. The addressable markets for their main products, such as Dexcom G6, Dexcom G7, Dexcom ONE, and Dexcom Stelo, are encompassed by the broader CGM market.

Global Continuous Glucose Monitoring (CGM) Market

The global continuous glucose monitoring market was valued at approximately USD 10.9 billion in 2024. This market is projected to grow significantly, with estimates suggesting it will reach between USD 47.1 billion by 2034 and USD 55.048 billion by 2035, demonstrating a compound annual growth rate (CAGR) ranging from 15.7% to 16% during the forecast periods.

U.S. Continuous Glucose Monitoring (CGM) Market

The U.S. continuous glucose monitoring market was valued at approximately USD 4.9 billion in 2024. Projections indicate robust growth, with the market expected to reach USD 22 billion by 2034, exhibiting a CAGR of 16.2% from 2025 to 2034. Another estimate places the U.S. market at USD 7.43 billion in 2026, growing to USD 17.16 billion by 2031 with an 18.23% CAGR.

Dexcom Stelo Addressable Market (U.S.)

Dexcom's Stelo sensor, an over-the-counter CGM, targets approximately 25 million Americans with Type 2 diabetes who do not use insulin.

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Expected Drivers of Future Revenue Growth for DexCom (DXCM)

Over the next 2-3 years, DexCom (DXCM) is expected to drive future revenue growth through several key initiatives and market expansions:

  • Continued Adoption and Rollout of Dexcom G7: The successful launch and ongoing uptake of the Dexcom G7 and the newer G7 15 Day system are anticipated to be significant contributors to revenue growth. Management projects 2026 revenue growth, in part, due to the broad launch of the G7 15 Day system.
  • Expansion into the Type 2 Non-Insulin Market with Stelo: DexCom plans to significantly expand its addressable market by targeting people with Type 2 diabetes who do not use insulin through its new product, Stelo. This product was submitted to the FDA in Q4 2023 and is expected to launch in the U.S. in summer 2024, aiming to diversify revenue beyond high-acuity patients.
  • International Market Expansion and Increased Access: A consistent driver of growth is DexCom's strategy to broaden its global footprint. The company is actively expanding access and securing reimbursement in various international markets, including strong performance noted in France, Germany, the United Kingdom, Japan, and Canada.
  • Growth in Customer Base and CGM Awareness: The overall increase in awareness of continuous glucose monitoring (CGM) technology and the addition of new customers are fundamental drivers. DexCom has consistently demonstrated an ability to attract new users, reporting over 600,000 new DexCom users in 2023.
  • Expanded Reimbursement and Pharmacy Channel Penetration: DexCom is focused on expanding coverage for its CGM systems globally, particularly for Type 2 non-insulin users. This includes efforts to secure additional access through Medicare and partnerships with Pharmacy Benefit Managers (PBMs) to shift CGM device access toward pharmacy benefits, thereby increasing patient access and adherence.

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Capital Allocation Decisions (2021-2025)

Share Repurchases

  • DexCom announced a share repurchase program of up to $500 million on October 27, 2023, which was valid until October 31, 2024.
  • On May 1, 2025, the company announced a new $750 million share repurchase program.
  • Annual share repurchases amounted to $688.7 million in 2023, $750 million in 2024, and $500 million in 2025.

Capital Expenditures

  • DexCom's capital expenditures for fiscal years ending December 2020 to 2024 averaged $309.7 million, with a median of $358.8 million.
  • Capital expenditures were $389 million in 2021, $365 million in 2022, $237 million in 2023, $359 million in 2024, and approximately $364 million for 2025.
  • Projected capital expenditures are set to increase, with $507 million anticipated for 2026, and further increases to $556 million in 2027 and $623 million in 2028. The primary focus of these expenditures includes investments in manufacturing, software, and organic growth, particularly to expand global manufacturing capacity.

Better Bets vs. DexCom (DXCM)

Trade Ideas

Select ideas related to DXCM.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
PGNY_3312026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03312026PGNYProgynyDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
0.0%0.0%0.0%
CNC_3272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03272026CNCCenteneDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
2.3%2.3%-0.6%
OSCR_3272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03272026OSCROscar HealthDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
3.0%3.0%-2.6%
WAT_3202026_Monopoly_xInd_xCD_Getting_Cheaper03202026WATWatersMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-0.4%-0.4%-3.3%
GILD_3202026_Quality_Momentum_RoomToRun_10%03202026GILDGilead SciencesQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
1.6%1.6%-2.2%
DXCM_10312025_Monopoly_xInd_xCD_Getting_Cheaper10312025DXCMDexComMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
7.9%7.9%-5.8%
DXCM_1312025_Monopoly_xInd_xCD_Getting_Cheaper01312025DXCMDexComMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-8.7%-15.9%-36.8%
DXCM_7312024_Dip_Buyer_High_CFO_Margins_ExInd_DE07312024DXCMDexComDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
27.4%19.1%-11.8%
DXCM_5312022_Dip_Buyer_High_CFO_Margins_ExInd_DE05312022DXCMDexComDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
48.2%57.4%-8.7%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

DXCMABTMDTPODDTNDMSENSMedian
NameDexCom Abbott L.MedtronicInsulet Tandem D.Senseoni. 
Mkt Price64.02100.3087.21196.9319.186.6875.61
Mkt Cap24.8174.4111.913.91.30.319.3
Rev LTM4,66244,32835,4832,7081,015353,685
Op Inc LTM9128,0536,611474-167-68693
FCF LTM1,0777,3955,410350-108-60714
FCF 3Y Avg7406,2685,269228-77-65484
CFO LTM1,4419,5667,285569-10-591,005
CFO 3Y Avg1,0608,4627,016382-6-63721

Growth & Margins

DXCMABTMDTPODDTNDMSENSMedian
NameDexCom Abbott L.MedtronicInsulet Tandem D.Senseoni. 
Rev Chg LTM15.6%5.7%6.9%30.7%7.9%56.9%11.8%
Rev Chg 3Y Avg17.1%0.7%4.9%27.6%9.0%31.3%13.1%
Rev Chg Q13.1%4.4%8.7%31.2%2.7%71.8%10.9%
QoQ Delta Rev Chg LTM3.2%1.1%2.1%7.4%0.8%20.3%2.7%
Op Mgn LTM19.6%18.2%18.6%17.5%-16.5%-193.8%17.8%
Op Mgn 3Y Avg17.0%16.9%18.5%15.1%-19.4%-288.2%16.0%
QoQ Delta Op Mgn LTM2.3%0.6%-0.7%0.2%1.0%16.7%0.8%
CFO/Rev LTM30.9%21.6%20.5%21.0%-1.0%-167.7%20.8%
CFO/Rev 3Y Avg25.4%20.0%20.8%16.8%-0.9%-250.0%18.4%
FCF/Rev LTM23.1%16.7%15.2%12.9%-10.7%-170.9%14.1%
FCF/Rev 3Y Avg17.6%14.8%15.7%9.8%-9.1%-255.2%12.3%

Valuation

DXCMABTMDTPODDTNDMSENSMedian
NameDexCom Abbott L.MedtronicInsulet Tandem D.Senseoni. 
Mkt Cap24.8174.4111.913.91.30.319.3
P/S5.33.93.25.11.38.64.5
P/EBIT22.419.517.834.7-6.7-4.718.6
P/E29.626.724.256.1-6.4-4.425.5
P/CFO17.218.215.424.3-134.2-5.116.3
Total Yield3.4%6.1%7.4%1.8%-15.7%-22.9%2.6%
Dividend Yield0.0%2.4%3.2%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg2.4%3.1%4.7%1.2%-4.6%-20.8%1.8%
D/E0.10.10.30.10.30.10.1
Net D/E-0.00.00.20.00.1-0.20.0

Returns

DXCMABTMDTPODDTNDMSENSMedian
NameDexCom Abbott L.MedtronicInsulet Tandem D.Senseoni. 
1M Rtn-3.5%-9.0%-1.2%-17.5%-13.4%14.4%-6.2%
3M Rtn-5.0%-19.9%-9.9%-31.9%-11.6%-7.5%-10.7%
6M Rtn-1.7%-23.6%-7.2%-37.4%37.0%-20.5%-13.8%
12M Rtn-4.9%-17.9%9.0%-21.7%12.6%-41.5%-11.4%
3Y Rtn-44.3%3.0%18.7%-37.3%-54.8%-44.3%-40.8%
1M Excs Rtn-4.1%-9.6%-1.8%-18.1%-14.1%13.8%-6.8%
3M Excs Rtn-4.9%-18.6%-9.4%-31.3%-13.2%-4.7%-11.3%
6M Excs Rtn-6.5%-25.5%-10.4%-38.5%24.1%-28.6%-18.0%
12M Excs Rtn-31.3%-54.4%-26.9%-57.1%-19.6%-72.8%-42.8%
3Y Excs Rtn-110.9%-62.8%-45.3%-104.7%-119.2%-110.1%-107.4%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment3,6222,9102,4481,9271,476
Total3,6222,9102,4481,9271,476


Operating Income by Segment
$ Mil20252024202320222021
Single Segment598    
Total598    


Net Income by Segment
$ Mil20252024202320222021
Single Segment542    
Total542    


Price Behavior

Price Behavior
Market Price$64.02 
Market Cap ($ Bil)24.8 
First Trading Date04/14/2005 
Distance from 52W High-28.5% 
   50 Days200 Days
DMA Price$68.49$71.22
DMA Trenddowndown
Distance from DMA-6.5%-10.1%
 3M1YR
Volatility33.8%41.7%
Downside Capture0.770.67
Upside Capture187.5586.84
Correlation (SPY)30.3%26.6%
DXCM Betas & Captures as of 3/31/2026

 1M2M3M6M1Y3Y
Beta0.750.940.890.770.910.84
Up Beta-0.09-1.59-0.960.360.970.83
Down Beta-0.050.430.140.680.740.75
Up Capture104%164%198%90%81%36%
Bmk +ve Days7162765139424
Stock +ve Days8172970129381
Down Capture140%150%135%89%105%102%
Bmk -ve Days12233358110323
Stock -ve Days14253456118364

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with DXCM
DXCM6.3%42.8%0.26-
Sector ETF (XLV)12.3%16.8%0.5233.7%
Equity (SPY)31.2%17.3%1.4735.5%
Gold (GLD)60.1%27.8%1.695.4%
Commodities (DBC)29.8%16.6%1.587.5%
Real Estate (VNQ)21.3%15.2%1.0728.0%
Bitcoin (BTCUSD)-5.7%43.7%-0.0117.3%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with DXCM
DXCM-6.9%46.8%0.02-
Sector ETF (XLV)6.3%14.6%0.2537.6%
Equity (SPY)11.1%17.0%0.5041.0%
Gold (GLD)22.1%17.8%1.025.1%
Commodities (DBC)11.8%18.8%0.528.4%
Real Estate (VNQ)3.7%18.8%0.1030.8%
Bitcoin (BTCUSD)4.0%56.5%0.2918.3%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with DXCM
DXCM14.3%48.3%0.47-
Sector ETF (XLV)9.8%16.5%0.4836.0%
Equity (SPY)13.8%17.9%0.6638.1%
Gold (GLD)14.2%15.9%0.744.5%
Commodities (DBC)8.6%17.6%0.4111.5%
Real Estate (VNQ)5.1%20.7%0.2227.8%
Bitcoin (BTCUSD)67.4%66.9%1.0710.0%

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Short Interest

Short Interest: As Of Date3312026
Short Interest: Shares Quantity14.7 Mil
Short Interest: % Change Since 3152026-9.7%
Average Daily Volume4.2 Mil
Days-to-Cover Short Interest3.5 days
Basic Shares Quantity386.6 Mil
Short % of Basic Shares3.8%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
1/12/20265.3%3.2%1.1%
10/30/2025-14.6%-14.9%-5.5%
7/30/2025-9.3%-14.2%-15.7%
5/1/202516.2%21.5%21.7%
1/13/20252.7%8.5%11.1%
10/24/2024-1.9%-5.8%-2.7%
7/25/2024-40.7%-34.8%-31.3%
4/25/2024-9.9%-8.2%-7.7%
...
SUMMARY STATS   
# Positive101010
# Negative131313
Median Positive9.7%10.8%11.1%
Median Negative-5.6%-8.2%-9.7%
Max Positive19.4%21.5%40.6%
Max Negative-40.7%-34.8%-31.3%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202502/12/202610-K
09/30/202510/30/202510-Q
06/30/202507/30/202510-Q
03/31/202505/01/202510-Q
12/31/202402/18/202510-K
09/30/202410/24/202410-Q
06/30/202407/25/202410-Q
03/31/202404/25/202410-Q
12/31/202302/08/202410-K
09/30/202310/26/202310-Q
06/30/202307/27/202310-Q
03/31/202304/27/202310-Q
12/31/202202/09/202310-K
09/30/202210/27/202210-Q
06/30/202207/28/202210-Q
03/31/202204/28/202210-Q

Recent Forward Guidance [BETA]

Latest: Q4 2025 Earnings Reported 2/12/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue5.16 Bil5.21 Bil5.25 Bil12.2% Higher NewGuidance: 4.64 Bil for 2025
2026 Revenue Growth11.0%12.0%13.0%-20.0%-3.0%Lower NewGuidance: 15.0% for 2025
2026 Non-GAAP Gross Profit Margin63.0%63.5%64.0%4.1%2.5%Higher NewGuidance: 61.0% for 2025
2026 Non-GAAP Operating Margin22.0%22.5%23.0%9.8%2.0%Higher NewGuidance: 20.5% for 2025
2026 Adjusted EBITDA Margin30.0%30.5%31.0%3.4%1.0%Higher NewGuidance: 29.5% for 2025

Prior: Q3 2025 Earnings Reported 10/30/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2025 Revenue4.63 Bil4.64 Bil4.65 Bil0.6% RaisedGuidance: 4.61 Bil for 2025
2025 Revenue Growth 15.0% 3.4%0.5%RaisedGuidance: 14.5% for 2025
2025 Non-GAAP Gross Profit Margin 61.0% -1.6%-1.0%LoweredGuidance: 62.0% for 2025
2025 Non-GAAP Operating Margin20.0%20.5%21.0%-2.4%-0.5%LoweredGuidance: 21.0% for 2025
2025 Adjusted EBITDA Margin29.0%29.5%30.0%-1.7%-0.5%LoweredGuidance: 30.0% for 2025

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Collins, Richard Alexander by TrustSell1118202559.052,906171,5992,071,946Form
2Heller, Bridgette P DirectSell1112202558.071,01258,7671,569,690Form
3Leach, Jacob StevenPresident & COODirectBuy1110202555.0418,2001,001,70218,256,127Form
4Collins, Richard Alexander by TrustSell1110202555.173,948217,8112,096,129Form
5Malady, Kyle DirectSell909202580.8666753,9341,832,854Form