DexCom, Inc. (DXCM)
POSITIVEFundamental
77
Precio
$89.40
Capitalización Bursátil
$34.36B
Parte 1 · Cuánto vale la empresa
Resumen
DexCom makes continuous glucose monitors — small wearable sensors that track blood sugar every few minutes and send readings to a phone or an insulin pump, replacing the finger-prick test that diabetics used for decades. Its main product line is the G7 sensor and its Stelo variant for people not on insulin. It sells almost entirely one category of medical device, in two markets — the United States and abroad — rather than a diversified portfolio.
Cómo genera ingresos
DexCom earns revenue mainly by selling a recurring supply: sensors that must be replaced every 10-15 days and transmitters replaced less often, so once a patient starts, the ongoing sensor purchases resemble a subscription even though they are billed per shipment. Sales flow largely through distributors and pharmacies who bill insurers or government payers on the patient's behalf, and reimbursement approval from insurance or Medicare, not the patient's own spending, determines whether a sale happens at all.
Ingresos por segmento
Sales to US patients, mostly billed through insurance or Medicare via distributors and pharmacies — where DexCom has been established longest.
Sales outside the US, growing faster than the domestic market as DexCom expands reimbursement coverage abroad.
Ventaja competitiva
Costes de cambio · EstrechaPatients build months or years of glucose history and habits around one sensor and app, and DexCom's sensors are integrated with several insulin pump makers' systems, so switching means a new prescription, a new pump pairing and relearning the device. That keeps most patients in place once started, but Abbott's FreeStyle Libre competes closely on price and features, so the advantage is not decisive.
Qué impulsa la demanda
DefensivoDemand is driven by the number of people with diabetes who are prescribed a continuous monitor, a population that grows steadily regardless of the economic cycle, plus the pace at which insurers extend reimbursement to more patient groups. Growth can still slow when a competitor cuts price or when a payer tightens coverage rules, but the underlying need for glucose monitoring does not disappear in a downturn.
Riesgos clave
- Reliance on a small number of distributors — Most sales are routed through a handful of pharmacy and medical-supply distributors rather than direct to patients; losing one or a change in its terms would disrupt a large share of shipments.
- Single-source manufacturing and FDA oversight — Some components come from single-source suppliers, and DexCom's factories and any product change remain subject to FDA inspection and approval; a failed inspection or an unauthorized change can halt shipments.
- Reimbursement decisions by insurers and Medicare — A sale generally only happens if an insurer or government payer agrees to reimburse the device; a coverage cut or a slower approval process for new patient groups directly reduces revenue.
- Competition from Abbott and other monitor makers — Abbott's FreeStyle Libre and other continuous glucose monitors compete directly on price, accuracy and insurer coverage, and a lost contract with a major payer can shift patients to a rival overnight.
Concentración de clientes
DexCom sells through a small number of large distributors and pharmacy partners rather than directly to most patients; the company has not disclosed a current percentage for its largest partners, but historically a handful of them each represented a meaningful share of revenue.
Los argumentos a favor
Buyers argue that the diabetic population needing continuous monitoring keeps growing, that recurring sensor purchases behave like a subscription once a patient is on the device, and that expanding international reimbursement gives DexCom years of runway outside its largest market.
Los argumentos en contra
Sellers fear that Abbott's Libre competes aggressively on price, that reimbursement decisions outside the company's control can cut off whole patient groups, and that dependence on a handful of distributors and single-source suppliers leaves little room for a manufacturing or regulatory setback.
Written by the editors, published on 18 de agosto de 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balance y Liquidez
Ingresos
$4.97B
Últimos 12 meses (hasta 30/6/2026)
Beneficio Neto
$1000M
Últimos 12 meses (hasta 30/6/2026)
Flujo de Caja Libre
$1.08B
Patrimonio Neto Total
$2.75B
Pasivo Total
$3.59B
Ratio de Liquidez
1.73
Cobertura de Intereses
75.94
Deuda/EBITDA
1.20
Beneficio Por Acción
Ingresos y Beneficio Neto
Flujo de Caja Libre
Desglose de Ingresos
Estado histórico
Márgenes en el tiempo
La deuda en el tiempo
Cuánto pesa la deuda
Cuadro de crecimiento
Crecimiento — Ingresos
Estimación de Valor Justo
Valor Justo
$64.89
Precio Actual
$89.40
Margen de Seguridad
-37.8%
Rango de Valor Justo
$42.18 - $87.60
Métodos de Estimación
Métricas de Valoración
Ratio P/E
36.13
ROE
30.5%
Ratio P/B
13.11
P/FCF
24.46
Margen Bruto
62.5%
ROIC
22.0%
Radar de Rentabilidad
Value Creation (Economic Moat)
ROIC
22.0%
WACC
12.2%
ROIC − WACC
+9.8 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Criterios de Análisis Fundamental
Superado (22)
- EPS shows upward trend
- Price CAGR 19.99%
- ROIC 22.0%
- Gross Margin 62.5%
- P/FCF 24.46
- Debt/Equity ratio
- Operating Margin 22.9%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- ROE 36.2%
- Revenue Growth 5Y 19.3%
- Analyst Consensus 86% Buy
- Earnings Surprise avg 12.9%
- Earnings Quality (OCF/NI) 1.75
- Share Dilution -1.4%
- Net Margin Trend 20.1% vs 13.3%
- Piotroski F-Score 8/9
Fallido (4)
- P/B Ratio 13.11
- Price below Graham Number
- DCF valuation (Overvalued)
- PEG Ratio 3.62
No disponible (1)
- Dividend Payout NaN%
Piotroski F-Score
Solidez financiera fuerte
Calidad de los Beneficios
Alta calidad: beneficios respaldados por efectivo
Dilución de Acciones
Recomprando acciones. Favorable para el accionista
Gobernanza
Equipo Directivo
| Nombre | Cargo | Edad |
|---|---|---|
| Mr. Kevin Ronald Sayer | Executive Chairman of the Board | 67 |
| Mr. Jacob Steven Leach | President, CEO & Director | 47 |
| Mr. Jereme M. Sylvain CPA | Executive VP, CFO & Chief Accounting Officer | 45 |
| Mr. Michael Jon Brown J.D. | Executive VP, Chief Legal & Compliance Officer | 55 |
| Ms. Sadie M. Stern | Executive VP, Chief People & Culture Officer | 50 |
| Mr. Jon Coleman | Executive VP & Chief Commercial Officer | 61 |
| Mr. Peter Simpson | Executive VP & CTO | - |
| Mr. Sean Christensen | Vice President of Finance and Investor Relations | - |
| Mr. Matthew Dolan | Executive Vice President of Strategy & Corporate Development | 44 |
| Keri Leone | Senior Director of Global Medical Science & Education | - |
Riesgo de Auditoría
2
Riesgo del Consejo
7
Riesgo de Compensación
5
Riesgo de Derechos del Accionista
6
Parte 2 · El precio y el momento de entrar
Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.
Latest News
Recent headlines for DXCM, sourced from Markets Gazette.
- 5/22/2026POSITIVEHere's How Much You Would Have Made Owning DexCom Stock In The Last 15 Years
An analysis of DexCom Inc. stock reveals a substantial return for long-term investors over the past 15 years. While specific figures are not provided in this snippet, the title implies significant capital appreciation, likely driven by the company's innovative continuous glucose monitoring (CGM) devices. For investors, this historical performance suggests strong market positioning and successful product adoption in the diabetes technology sector, potentially indicating continued growth prospects. The article likely details the key milestones and market factors contributing to this impressive investor return.
- 5/15/2026POSITIVEDexcom’s Bet Beyond Diabetes
Dexcom CEO Jake Leach highlighted the expanding market for continuous glucose monitors (CGMs) beyond diabetes management during a Bloomberg interview. He stated that GLP-1 drug approvals are accelerating CGM adoption and reaffirmed the company's robust growth projections. Leach also detailed Dexcom's strategic expansion into the broader metabolic health and wellness sector. This diversification strategy, coupled with the positive impact of GLP-1 drugs, suggests a significant untapped market potential, positioning Dexcom for sustained revenue growth and market share expansion.
- 3/2/2026POSITIVEHere's How Much You Would Have Made Owning DexCom Stock In The Last 10 Years
DexCom Inc.'s historical stock performance over the past ten years has proven exceptionally profitable for investors. While specific return details were not disclosed in this update, the headline strongly implies that the company, a leader in diabetes management technologies, has generated substantial gains. This information is critical for investors assessing a company's long-term growth potential and stability within the healthcare sector. DexCom's ability to sustain a positive growth trajectory for a decade underscores the strength of its innovation and the increasing demand for its continuous glucose monitoring systems, positioning it as an attractive option for growth-oriented portfolios.
- 2/25/2026POSITIVEGot $10,000? I Think DexCom Stock Could Be a Quiet Winner of the GLP‑1 Wars
DexCom Inc. emerges as a compelling investment opportunity, positioned as a potential 'quiet winner' amidst the competitive landscape of GLP-1 medications. While the focus often remains on pharmaceutical giants, DexCom's innovative medical devices, particularly its continuous glucose monitoring (CGM) systems, are crucial for managing conditions like diabetes, which are intrinsically linked to the GLP-1 drug market. The increasing adoption of GLP-1s could inadvertently boost demand for DexCom's monitoring solutions, as patients and healthcare providers seek better ways to track health outcomes. This synergy presents a robust case for investors looking beyond direct drug manufacturers, highlighting DexCom's strategic importance in the evolving healthcare sector.
via Markets Gazette