Dexcom (DXCM) stock
Health Care · Health Care Equipment
Dexcom (DXCM) is a Health Care Equipment company in the Health Care sector, headquartered in San Diego, California. As of October 23, 2026, DXCM closed at $77.94, a market capitalization of $29.41 billion, the 321st largest company in the S&P 500. Over the last twelve months it generated $4.97 billion in revenue (+13% year over year) and $1.41 billion in free cash flow. The stock trades at 30.9x trailing earnings and 25.0x forward earnings.
- 1-year total return: +9.7% (dividends reinvested)
- 5-year return: -11.3% a year
- 52-week range: $54.11 – $92.59
- Gross margin 62.5%, operating margin 24.3%
- FI Handbook report card: B+ across 10 metrics
- 42nd largest of 60 Health Care stocks in the S&P 500
DXCM price chart
1Y price change: +9.7% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| DXCM | -11.2% | +17.4% | +9.7% | -3.2% | -11.3% | +14.5% | +16.5% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2005.
DXCM key statistics
- Market cap
- $29.4B
- #321 in S&P 500
- P/E (TTM)
- 30.9x
- Forward P/E
- 25.0x
- EPS (TTM)
- $2.52
- Revenue (TTM)
- $5.0B
- +13%
- Free cash flow
- $1.4B
- Gross margin
- 62.5%
- Operating margin
- 24.3%
- Return on equity
- 38.5%
- Dividend yield
- None
- 52-week range
- $54.11 – $92.59
- Beta
- 1.48
- Price / sales
- 5.9x
- EV / EBITDA
- 20.6x
- Debt / equity
- 0.53x
- Employees
- 11,000
DXCM report card
B+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth13.1%B
- Gross margin62.5%A
- Operating margin24.3%B
- FCF margin28.3%A
- Return on equity38.5%A
- Net debt / EBITDA-0.4xA
- Forward P/E25.0xC
- PEG ratio1.4xB
- Shareholder yield1.7%C
- Share count change / yr-0.7%B
DexCom financials
Revenue went from $573.3M in fiscal 2016 to $4.7B in fiscal 2025, growing 26.2% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $573.3M | $718.5M | $1.0B | $1.5B | $1.9B | $2.4B | $2.9B | $3.6B | $4.0B | $4.7B |
| Gross profit | $378.4M | $492.1M | $663.9M | $931.5M | $1.3B | $1.7B | $1.9B | $2.3B | $2.4B | $2.8B |
| Operating income | -$63.9M | -$42.5M | -$186.3M | $142.3M | $299.5M | $265.8M | $391.2M | $597.7M | $600.0M | $911.8M |
| Net income | -$65.6M | -$50.2M | -$127.1M | $101.1M | $549.7M | $216.9M | $341.2M | $541.5M | $576.2M | $836.3M |
| EPS (diluted) | — | $-0.14 | $-0.36 | $0.28 | $1.33 | $0.53 | $0.82 | $1.30 | $1.42 | $2.09 |
| Free cash flow | $500.0K | $26.0M | $56.1M | $134.5M | $276.6M | $53.3M | $304.7M | $511.9M | $630.7M | $1.1B |
| Buybacks | $0 | $0 | $100.0M | $0 | $0 | $0 | $557.7M | $688.7M | $750.0M | $500.0M |
| Diluted shares | — | 345.2M | 352.8M | 369.2M | 420.4M | 428.8M | 427.5M | 425.5M | 412.7M | 405.5M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into DXCM?
A reverse DCF asks what growth the current price requires. With an enterprise value of $28.9B and $1.4B of trailing free cash flow, DexCom needs to grow free cash flow about 11.2% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 31.2% a year over the last five years.
P/E ratio history
Current 37.3x vs. median 100.2x (10th–90th percentile 43.3x–307.9x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
DXCM analyst price targets
26 analysts' average 12-month target is $96.46 (+24% vs. $77.94). Targets range from $79.00 to $115.00. 90% rate it a buy.
DXCM earnings
Next report: October 29, 2026. DexCom has beaten EPS estimates 5 quarters in a row. Last quarter's revenue was $1.3B (+13% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 30, 2026 | $0.61 | $0.70 | +15.1% |
| Apr 30, 2026 | $0.47 | $0.56 | +19.0% |
| Feb 12, 2026 | $0.65 | $0.68 | +4.5% |
| Oct 30, 2025 | $0.57 | $0.61 | +7.5% |
| Jul 30, 2025 | $0.44 | $0.48 | +8.3% |
| May 1, 2025 | $0.33 | $0.32 | -2.6% |
| Feb 13, 2025 | $0.50 | $0.45 | -9.9% |
| Oct 24, 2024 | $0.43 | $0.45 | +3.5% |
Stocks like DXCM
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 ABT Abbott Laboratories | +1.16% | -16% | $179.4B | 38.6x | Compare |
 ISRG Intuitive Surgical | +1.90% | -18% | $159.8B | 54.7x | Compare |
 MDT Medtronic plc. | -1.22% | +5% | $122.0B | 23.4x | Compare |
 SYK Stryker | +0.02% | -19% | $117.8B | 31.8x | Compare |
 BSX Boston Scientific | -0.70% | -55% | $66.2B | 18.5x | Compare |
 BDX Becton, Dickinson and | -0.75% | +39% | $54.2B | 46.3x | Compare |
 EW Edwards Lifesciences Corporatio | -1.13% | +16% | $51.3B | 53.0x | Compare |
 IDXX IDEXX Laboratories | -1.13% | -12% | $44.1B | 39.4x | Compare |
DXCM news
- Why Is DexCom (DXCM) In Focus After Its G7 Trial Reached NEJM? · Oct 22, 2026
- DexCom's G7 Shows Strong Results in Type 2 Diabetes CONNECT Study · Oct 20, 2026
- NEJM study supports CGM use for people with diabetes who don’t take insulin · Oct 15, 2026
- Landmark Dexcom CONNECT Study Published in The New England Journal of Medicine, Redefining the Standard of Care for People with Type 2 Diabetes Not on Insulin · Oct 14, 2026
- Here's Why You Should Retain DexCom Stock in Your Portfolio for Now · Oct 13, 2026
DXCM stock FAQ
What is DXCM's market cap?
Dexcom's market capitalization is $29.41 billion as of October 23, 2026, ranking 321st in the S&P 500.
What is DXCM's P/E ratio?
DXCM trades at a trailing price-to-earnings ratio of 30.9x and a forward P/E of 25.0x. Its median P/E over the period we track is 100.2x.
Does DXCM pay a dividend?
No. Dexcom does not currently pay a regular cash dividend.
How much has DXCM stock returned?
Including reinvested dividends, DXCM returned +9.7% over one year, -11.3% a year over five years, +14.5% a year over ten years through October 23, 2026.
Is DXCM stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Dexcom must grow free cash flow about 11% a year for the next decade. Its free cash flow grew 31% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the DXCM price target?
26 analysts cover DXCM with an average 12-month price target of $96.46, +24% from the current price. 90% of them rate it a buy.
When does DXCM report earnings?
Dexcom is expected to report earnings on October 29, 2026. It has beaten EPS estimates 5 quarters in a row.
How many employees does Dexcom have?
Dexcom has about 11,000 full-time employees, or $451,745 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology