DexCom (DXCM)
Market Price (5/24/2026): $72.11 | Market Cap: $27.8 BilSector: Health Care | Industry: Health Care Equipment
DexCom (DXCM)
Market Price (5/24/2026): $72.11Market Cap: $27.8 BilSector: Health CareIndustry: Health Care Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30% Attractive yieldFCF Yield is 5.1% Stock buyback supportStock Buyback 3Y Total is 1.6 Bil Low stock price volatilityVol 12M is 40% Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Digital Health & Telemedicine. Themes include Diabetes Management, Wearable Health Devices, Show more. | Weak multi-year price returns2Y Excs Rtn is -86%, 3Y Excs Rtn is -119% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 23x, P/EPrice/Earnings or Price/(Net Income) is 30x Key risksDXCM key risks include [1] heightened regulatory scrutiny, Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30% |
| Attractive yieldFCF Yield is 5.1% |
| Stock buyback supportStock Buyback 3Y Total is 1.6 Bil |
| Low stock price volatilityVol 12M is 40% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Digital Health & Telemedicine. Themes include Diabetes Management, Wearable Health Devices, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -86%, 3Y Excs Rtn is -119% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 23x, P/EPrice/Earnings or Price/(Net Income) is 30x |
| Key risksDXCM key risks include [1] heightened regulatory scrutiny, Show more. |
Qualitative Assessment
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1. Solid Q1 2026 Financial Performance Offset by Reaffirmed Full-Year Guidance.
DexCom reported strong first-quarter 2026 results, with revenue reaching $1.192 billion, a 15% year-over-year increase, and non-GAAP diluted earnings per share of $0.56, both surpassing analyst consensus estimates of approximately $1.17 billion and $0.47, respectively. Despite this outperformance, the company reaffirmed its full-year 2026 revenue guidance of $5.16 billion to $5.25 billion (an 11-13% growth projection), rather than raising it, which may have tempered a more significant upward movement in the stock price as investors weighed a strong quarter against unchanged annual expectations.
2. Ambitious Long-Term Strategic Vision and Share Buyback Counterbalanced by Market Expectations.
During its Investor Day on May 14, 2026, DexCom unveiled an ambitious long-term strategic roadmap through 2030, targeting organic revenue growth of at least 10% annually and significant margin expansion, including an adjusted EBITDA margin of 36-37% by 2030. Concurrently, the company announced a new $1 billion share repurchase program, replacing a prior $250 million program, demonstrating a commitment to returning capital to shareholders. While these initiatives aim to drive future value, the market's largely stable reaction suggests these long-term positives might have been somewhat anticipated or were balanced by current valuation considerations or execution timelines.
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Stock Movement Drivers
Fundamental Drivers
The -1.3% change in DXCM stock from 1/31/2026 to 5/23/2026 was primarily driven by a -24.7% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5232026 | Change |
|---|---|---|---|
| Stock Price ($) | 73.04 | 72.10 | -1.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,516 | 4,818 | 6.7% |
| Net Income Margin (%) | 16.0% | 19.3% | 21.0% |
| P/E Multiple | 39.6 | 29.8 | -24.7% |
| Shares Outstanding (Mil) | 391 | 385 | 1.6% |
| Cumulative Contribution | -1.3% |
Market Drivers
1/31/2026 to 5/23/2026| Return | Correlation | |
|---|---|---|
| DXCM | -1.3% | |
| Market (SPY) | 8.1% | 33.8% |
| Sector (XLV) | -2.7% | 40.2% |
Fundamental Drivers
The 23.8% change in DXCM stock from 10/31/2025 to 5/23/2026 was primarily driven by a 21.0% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 5232026 | Change |
|---|---|---|---|
| Stock Price ($) | 58.22 | 72.10 | 23.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,516 | 4,818 | 6.7% |
| Net Income Margin (%) | 16.0% | 19.3% | 21.0% |
| P/E Multiple | 31.6 | 29.8 | -5.5% |
| Shares Outstanding (Mil) | 391 | 385 | 1.6% |
| Cumulative Contribution | 23.8% |
Market Drivers
10/31/2025 to 5/23/2026| Return | Correlation | |
|---|---|---|
| DXCM | 23.8% | |
| Market (SPY) | 9.9% | 30.2% |
| Sector (XLV) | 4.8% | 37.6% |
Fundamental Drivers
The 1.0% change in DXCM stock from 4/30/2025 to 5/23/2026 was primarily driven by a 35.2% change in the company's Net Income Margin (%).| (LTM values as of) | 4302025 | 5232026 | Change |
|---|---|---|---|
| Stock Price ($) | 71.38 | 72.10 | 1.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,033 | 4,818 | 19.5% |
| Net Income Margin (%) | 14.3% | 19.3% | 35.2% |
| P/E Multiple | 48.4 | 29.8 | -38.3% |
| Shares Outstanding (Mil) | 391 | 385 | 1.4% |
| Cumulative Contribution | 1.0% |
Market Drivers
4/30/2025 to 5/23/2026| Return | Correlation | |
|---|---|---|
| DXCM | 1.0% | |
| Market (SPY) | 36.0% | 28.0% |
| Sector (XLV) | 8.6% | 29.5% |
Fundamental Drivers
The -40.6% change in DXCM stock from 4/30/2023 to 5/23/2026 was primarily driven by a -81.4% change in the company's P/E Multiple.| (LTM values as of) | 4302023 | 5232026 | Change |
|---|---|---|---|
| Stock Price ($) | 121.34 | 72.10 | -40.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,022 | 4,818 | 59.4% |
| Net Income Margin (%) | 9.7% | 19.3% | 99.6% |
| P/E Multiple | 160.4 | 29.8 | -81.4% |
| Shares Outstanding (Mil) | 387 | 385 | 0.4% |
| Cumulative Contribution | -40.6% |
Market Drivers
4/30/2023 to 5/23/2026| Return | Correlation | |
|---|---|---|
| DXCM | -40.6% | |
| Market (SPY) | 86.3% | 27.6% |
| Sector (XLV) | 18.0% | 25.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DXCM Return | 45% | -16% | 10% | -37% | -15% | 8% | -22% |
| Peers Return | 58% | -33% | -19% | 8% | -8% | -22% | -33% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| DXCM Win Rate | 67% | 42% | 50% | 33% | 58% | 60% | |
| Peers Win Rate | 53% | 43% | 42% | 48% | 45% | 24% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| DXCM Max Drawdown | -24% | -49% | -45% | -54% | -40% | -23% | |
| Peers Max Drawdown | -33% | -49% | -47% | -34% | -40% | -41% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[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 5/22/2026 (YTD)
How Low Can It Go
| Event | DXCM | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -41.9% | -9.5% |
| % Gain to Breakeven | 72.2% | 10.5% |
| Time to Breakeven | 146 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -47.8% | -24.5% |
| % Gain to Breakeven | 91.5% | 32.4% |
| Time to Breakeven | 364 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -34.5% | -33.7% |
| % Gain to Breakeven | 52.6% | 50.9% |
| Time to Breakeven | 28 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -14.4% | -19.2% |
| % Gain to Breakeven | 16.8% | 23.8% |
| Time to Breakeven | 14 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -35.1% | -3.7% |
| % Gain to Breakeven | 54.1% | 3.9% |
| Time to Breakeven | 514 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -45.6% | -12.2% |
| % Gain to Breakeven | 83.8% | 13.9% |
| Time to Breakeven | 854 days | 62 days |
In The Past
DexCom's stock fell -41.9% during the Summer-Fall 2023 Five Percent Yield Shock. Such a loss loss requires a 72.2% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | DXCM | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -41.9% | -9.5% |
| % Gain to Breakeven | 72.2% | 10.5% |
| Time to Breakeven | 146 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -47.8% | -24.5% |
| % Gain to Breakeven | 91.5% | 32.4% |
| Time to Breakeven | 364 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -34.5% | -33.7% |
| % Gain to Breakeven | 52.6% | 50.9% |
| Time to Breakeven | 28 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -35.1% | -3.7% |
| % Gain to Breakeven | 54.1% | 3.9% |
| Time to Breakeven | 514 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -45.6% | -12.2% |
| % Gain to Breakeven | 83.8% | 13.9% |
| Time to Breakeven | 854 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -39.1% | -17.9% |
| % Gain to Breakeven | 64.1% | 21.8% |
| Time to Breakeven | 456 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -85.0% | -53.4% |
| % Gain to Breakeven | 565.5% | 114.4% |
| Time to Breakeven | 418 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -21.0% | -8.6% |
| % Gain to Breakeven | 26.6% | 9.5% |
| Time to Breakeven | 8 days | 47 days |
In The Past
DexCom's stock fell -41.9% during the Summer-Fall 2023 Five Percent Yield Shock. Such a loss loss requires a 72.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About DexCom (DXCM)
AI Analysis | Feedback
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.
AI Analysis | Feedback
Here are the key risks to DexCom's business:
- 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.
- 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.
- 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.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| DexCom Stock On Fire: Up 25% With 6-Day Winning Streak | 05/23/2026 | |
| DexCom Earnings Notes | 12/29/2026 | |
| DexCom Stock Surges 12%, With A 11-Day Winning Spree | 12/12/2025 | |
| DexCom Stock 10-Day Winning Spree: Stock Climbs 9.5% | 12/11/2025 | |
| 8-Day Rally Sends DexCom Stock Up 6.4% | 12/09/2025 | |
| Is 22.6% Fall In DexCom (DXCM) Stock A Buying Opportunity? | 11/08/2025 | |
| ARTICLES | ||
| 6-Day Rally Sends DexCom Stock Up 25% | 05/23/2026 | |
| DexCom Stock Rockets 24% With 5-Day Winning Streak | 05/22/2026 | |
| S&P 500 Movers | Winners: DXCM, FDS, WDAY | Losers: GLW, COIN, F | 05/16/2026 | |
| Stronger Bet Than IDEXX Laboratories Stock: DXCM, BSX Deliver More | 05/12/2026 | |
| Why DXCM, BSX Could Outperform Edwards Lifesciences Stock | 04/25/2026 |
Trade Ideas
Select ideas related to DXCM.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | GEHC | GE HealthCare Technologies | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | IQV | IQVIA | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | UHS | Universal Health Services | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ABT | Abbott Laboratories | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ZBIO | Zenas BioPharma | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 04302026 | DXCM | DexCom | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 10312025 | DXCM | DexCom | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.3% | 2.3% | -5.8% |
| 01312025 | DXCM | DexCom | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -8.7% | -15.9% | -36.8% |
| 07312024 | DXCM | DexCom | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 27.4% | 19.1% | -11.8% |
| 05312022 | DXCM | DexCom | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 48.2% | 57.4% | -8.7% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 75.35 |
| Mkt Cap | 19.3 |
| Rev LTM | 3,859 |
| Op Inc LTM | 770 |
| FCF LTM | 909 |
| FCF 3Y Avg | 566 |
| CFO LTM | 1,201 |
| CFO 3Y Avg | 801 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.5% |
| Rev Chg 3Y Avg | 13.4% |
| Rev Chg Q | 11.9% |
| QoQ Delta Rev Chg LTM | 2.7% |
| Op Inc Chg LTM | 30.0% |
| Op Inc Chg 3Y Avg | 14.5% |
| Op Mgn LTM | 17.3% |
| Op Mgn 3Y Avg | 16.1% |
| QoQ Delta Op Mgn LTM | -0.4% |
| CFO/Rev LTM | 20.7% |
| CFO/Rev 3Y Avg | 18.8% |
| FCF/Rev LTM | 14.3% |
| FCF/Rev 3Y Avg | 13.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 19.3 |
| P/S | 3.6 |
| P/Op Inc | 17.5 |
| P/EBIT | 16.8 |
| P/E | 23.1 |
| P/CFO | 15.8 |
| Total Yield | 3.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.4% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -7.8% |
| 3M Rtn | -22.0% |
| 6M Rtn | -25.4% |
| 12M Rtn | -29.9% |
| 3Y Rtn | -42.6% |
| 1M Excs Rtn | -12.9% |
| 3M Excs Rtn | -32.4% |
| 6M Excs Rtn | -32.8% |
| 12M Excs Rtn | -59.8% |
| 3Y Excs Rtn | -124.6% |
Comparison Analyses
Price Behavior
| Market Price | $72.10 | |
| Market Cap ($ Bil) | 27.9 | |
| First Trading Date | 04/14/2005 | |
| Distance from 52W High | -19.5% | |
| 50 Days | 200 Days | |
| DMA Price | $63.46 | $67.95 |
| DMA Trend | down | down |
| Distance from DMA | 13.6% | 6.1% |
| 3M | 1YR | |
| Volatility | 39.3% | 40.3% |
| Downside Capture | 89.49 | 121.25 |
| Upside Capture | 57.73 | 64.70 |
| Correlation (SPY) | 31.6% | 26.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.34 | 1.13 | 1.09 | 0.88 | 1.02 | 0.87 |
| Up Beta | 1.24 | 1.06 | 0.41 | 0.59 | 1.01 | 0.87 |
| Down Beta | 2.86 | 0.79 | 1.07 | 0.42 | 0.77 | 0.77 |
| Up Capture | 35% | 51% | 89% | 90% | 74% | 33% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 7 | 14 | 24 | 62 | 123 | 376 |
| Down Capture | 437% | 188% | 172% | 124% | 127% | 103% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 15 | 29 | 40 | 63 | 124 | 371 |
[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 | |
|---|---|---|---|---|
| DXCM | -14.5% | 40.2% | -0.29 | - |
| Sector ETF (XLV) | 16.0% | 14.5% | 0.80 | 31.3% |
| Equity (SPY) | 29.5% | 12.0% | 1.86 | 26.4% |
| Gold (GLD) | 35.5% | 26.8% | 1.11 | 8.0% |
| Commodities (DBC) | 42.9% | 18.7% | 1.77 | -11.6% |
| Real Estate (VNQ) | 15.2% | 13.1% | 0.82 | 21.9% |
| Bitcoin (BTCUSD) | -31.3% | 41.8% | -0.78 | 13.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DXCM | |
|---|---|---|---|---|
| DXCM | -2.2% | 46.9% | 0.12 | - |
| Sector ETF (XLV) | 5.7% | 14.7% | 0.21 | 37.7% |
| Equity (SPY) | 14.0% | 17.0% | 0.64 | 40.6% |
| Gold (GLD) | 18.8% | 18.0% | 0.85 | 5.6% |
| Commodities (DBC) | 10.4% | 19.4% | 0.42 | 5.5% |
| Real Estate (VNQ) | 3.8% | 18.8% | 0.10 | 31.0% |
| Bitcoin (BTCUSD) | 11.6% | 55.3% | 0.41 | 18.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DXCM | |
|---|---|---|---|---|
| DXCM | 17.0% | 48.4% | 0.52 | - |
| Sector ETF (XLV) | 9.9% | 16.5% | 0.49 | 35.8% |
| Equity (SPY) | 15.7% | 17.9% | 0.75 | 38.1% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 5.2% |
| Commodities (DBC) | 7.8% | 17.9% | 0.35 | 10.3% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 28.0% |
| Bitcoin (BTCUSD) | 66.7% | 66.9% | 1.06 | 9.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/12/2026 | 5.3% | 3.2% | 1.1% |
| 10/30/2025 | -14.6% | -14.9% | -5.5% |
| 7/30/2025 | -9.3% | -14.2% | -15.7% |
| 5/1/2025 | 16.2% | 21.5% | 21.7% |
| 1/13/2025 | 2.7% | 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 | |||
| # Positive | 10 | 10 | 10 |
| # Negative | 13 | 13 | 13 |
| Median Positive | 9.7% | 10.8% | 11.1% |
| Median Negative | -5.6% | -8.2% | -9.7% |
| Max Positive | 19.4% | 21.5% | 40.6% |
| Max Negative | -40.7% | -34.8% | -31.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 02/08/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/09/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 07/28/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 5.16 Bil | 5.21 Bil | 5.25 Bil | 12.2% | Higher New | Guidance: 4.64 Bil for 2025 | |
| 2026 Revenue Growth | 11.0% | 12.0% | 13.0% | -20.0% | -3.0% | Lower New | Guidance: 15.0% for 2025 |
| 2026 Non-GAAP Gross Profit Margin | 63.0% | 63.5% | 64.0% | 4.1% | 2.5% | Higher New | Guidance: 61.0% for 2025 |
| 2026 Non-GAAP Operating Margin | 22.0% | 22.5% | 23.0% | 9.8% | 2.0% | Higher New | Guidance: 20.5% for 2025 |
| 2026 Adjusted EBITDA Margin | 30.0% | 30.5% | 31.0% | 3.4% | 1.0% | Higher New | Guidance: 29.5% for 2025 |
Prior: Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | 4.63 Bil | 4.64 Bil | 4.65 Bil | 0.6% | Raised | Guidance: 4.61 Bil for 2025 | |
| 2025 Revenue Growth | 15.0% | 3.4% | 0.5% | Raised | Guidance: 14.5% for 2025 | ||
| 2025 Non-GAAP Gross Profit Margin | 61.0% | -1.6% | -1.0% | Lowered | Guidance: 62.0% for 2025 | ||
| 2025 Non-GAAP Operating Margin | 20.0% | 20.5% | 21.0% | -2.4% | -0.5% | Lowered | Guidance: 21.0% for 2025 |
| 2025 Adjusted EBITDA Margin | 29.0% | 29.5% | 30.0% | -1.7% | -0.5% | Lowered | Guidance: 30.0% for 2025 |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Brown, Michael Jon | EVP, Chief Legal Officer | Direct | Sell | 5192026 | 59.91 | 1,700 | 101,847 | 6,560,385 | Form |
| 2 | Heller, Bridgette P | Direct | Sell | 5142026 | 60.01 | 1,012 | 60,730 | 1,500,670 | Form | |
| 3 | Brown, Michael Jon | EVP, Chief Legal Officer | Direct | Sell | 4162026 | 63.04 | 1,700 | 107,168 | 7,010,300 | Form |
| 4 | Brown, Michael Jon | EVP, Chief Legal Officer | Direct | Sell | 3182026 | 64.85 | 1,700 | 110,245 | 7,321,824 | Form |
| 5 | Heller, Bridgette P | Direct | Sell | 2172026 | 68.01 | 1,012 | 68,826 | 1,769,552 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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