Dexcom (DXCM): analysis in plain words
Is Dexcom cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Dexcom (DXCM) is listed on the Nasdaq and we classify it in healthcare and pharma. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Dexcom according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Dexcom (DXCM) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $88.48 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 34.8x | Price over earnings per share |
| Revenue growth | +11.2% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 19.4% | Profit for every 100 of sales |
| Net debt / EBITDA | Net cash (more cash than debt) | Years of operating profit to repay debt |
| Dividend yield | 0.00% | Annual dividend over price |
| Market cap | $33.0 billion | What the stock market values it at |
The Dexcom figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any DXCM figure that is not available shows as N/A: we do not estimate it.
How Dexcom makes money
Dexcom makes continuous glucose monitors, small sensors worn on the skin that send blood sugar readings to a phone. Most revenue comes from disposable sensors that people with diabetes replace regularly, sold through distributors and pharmacies, and it also offers the over-the-counter Stelo. The United States is its largest market.
Over the last 12 months, Dexcom brought in revenue of $5.1 billion. For every 100 it sells, Dexcom keeps 63.4 after the direct cost of what it sells (gross margin) and 24.3 after all operating costs (operating margin). With 11,000 full-time employees, that is about $464,000 of revenue per employee.
Dexcom against its sector
To know whether a Dexcom figure is high or low you have to put it next to similar companies. This table compares Dexcom with the median of the 30 healthcare and pharma companies Fintols covers, with data as of November 4, 2026.
| Figure | Dexcom | healthcare and pharma median |
|---|---|---|
| P/E | 34.8x | 31.3x (30) |
| Revenue growth | +11.2% | +8.3% (33) |
| Net margin | 19.4% | 14.9% (33) |
| Dividend yield | 0.00% | 1.52% (33) |
| Net debt / EBITDA | -0.3x | 1.6x (31) |
In short, against the typical healthcare and pharma company, Dexcom grows faster, earns a wider margin and pays a lower dividend yield. By size, Dexcom ranks number 28 of 28 healthcare and pharma companies quoted in USD on Fintols.
The bull case for Dexcom
What works in favour of Dexcom, according to its figures as of November 4, 2026:
- Dexcom earns 37.7% a year on its shareholders' money (return on equity).
- Dexcom holds more cash than debt (net cash), so it does not depend on lenders to keep investing and is better placed to ride out a bad year.
- Analysts expect Dexcom earnings to rise: its P/E on the next 12 months of estimated earnings is 28.2x, below the current 34.8x.
The main risk for Dexcom
The Dexcom figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: a key drug losing patent protection or a clinical trial failing, plus government pressure on prices.
Frequently asked questions about Dexcom
Is it a good time to buy Dexcom stock?
Fintols does not tell you whether to buy or sell Dexcom, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Dexcom stock trades at $88.48, 4% below its 52-week high ($92.59) and 64% above its low ($54.11). Its P/E is 34.8x against a healthcare and pharma median of 31.3x, and 28.2x on the earnings analysts expect over the next 12 months. With Dexcom, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Dexcom pay a dividend?
No. As of November 4, 2026, Dexcom does not pay a dividend: what it earns stays in the company to grow, invest or, where it does so, buy back shares. Anyone buying Dexcom today is counting on the share price rising, not on income.
Is Dexcom stock expensive?
It depends on what you compare it with. On P/E, Dexcom trades at 34.8x its last 12 months of earnings: in line with the healthcare and pharma median (31.3x). Including its debt, Dexcom is valued at 20.4x its EBITDA (EV/EBITDA). A high P/E alone does not make Dexcom expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Dexcom's competitors?
On Fintols we compare Dexcom with Humana, Moderna and Edwards Lifesciences, which are also in healthcare and pharma. As of November 4, 2026, Humana is worth $50.1 billion and trades on a P/E of 39.5; Moderna is worth $103.2 billion; Edwards Lifesciences is worth $57.3 billion and trades on a P/E of 59.1. Each has a side-by-side comparison with Dexcom below.
Dexcom competitors
- Humana (HUM) analysis · Dexcom vs Humana comparison
- Moderna (MRNA) analysis · Dexcom vs Moderna comparison
- Edwards Lifesciences (EW) analysis · Dexcom vs Edwards Lifesciences comparison
To understand Dexcom better
- DCF and WACC Explained: A Practical Valuation Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Dexcom: healthcare and pharma stocks and S&P 500 companies. Open the full DXCM analysis with its valuation and scenarios. Educational content about Dexcom, not investment advice.