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DXCM

DexCom, Inc.
$80.20
-6.46% Oct 21 close
Health CareS&P 500
-20%-6%+8%+21%+35%Oct 2025Oct 2026Apr 2026
DXCMSPY
1W
-3.9%
1M
-10.1%
3M
+12.3%
6M
+26.5%
YTD
+20.8%
1Y
+15.0%

Live chart

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What they do

DexCom, Inc., a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems for the management of diabetes and metabolic health in the United States and internationally. The company offers Dexcom G7 and G7 15 Day, an integrated continuous glucose monitoring system; Dexcom G6, a CGM system. It markets its products directly to endocrinologists, physicians, and diabetes educators.

Healthcare · Medical Devices

For information only · Important disclosures

Grades vs sector

Momentum
78th percentile in sector
B+
12-1 return: +48.2%
Percentile within its GICS sector across the S&P 1500.
Growth
69th percentile in sector
B
Revenue growth (YoY): +13.1%
Percentile within its GICS sector across the S&P 1500.
Value
22nd percentile in sector
D
Forward E/P: 3.6% · EBITDA/EV: 4.4%
Percentile within its GICS sector across the S&P 1500.
Profitability
86th percentile in sector
A-
Profit margin: +20.1% · Return on equity: +38.5%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth
Outside this model's universe or screens
Momentum Top 15
ranked 115 of 499 · 12-month momentum 35.3%
Momentum Blend
Not in the current book
New Highs Growth
Outside this model's universe or screens
Coteau Long Book
Not in the current book

News

More news
Abbott (ABT): Can Libre Keep Growing as Glucose Monitoring Becomes More Competitive?
Insider Monkey · Oct 20
DexCom's G7 Shows Strong Results in Type 2 Diabetes CONNECT Study
Zacks · Oct 20
Global Wearable Electronics Market Report 2026-2036 | AI, Extended Reality, and Digital Health Drive New Growth and Investment Opportunities
GlobeNewswire · Oct 19
Vaso Stock Surges 149% in a Year: What's Behind the Rally?
Zacks · Oct 16
NEJM study supports CGM use for people with diabetes who don’t take insulin
MedTech Dive · Oct 15

Key stats

Market value$30.3B
P/E (last 12 months)31.8
P/E (next 12 months, estimated)25.7
52-week range$54.11 – $92.59
Revenue growth (latest quarter vs a year ago)+13.1%
Dividend yieldNo dividend
Analyst consensusStrong Buy (26)
Average analyst price target$96.46 (+20%)
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Leans undervalued
Model read-out from the numbers below, not advice. Score +1 (DCF counts double).
•DCF (base case)above the price by 10%
▼Forward P/E vs sector25.7x vs median 17.6x
▲Piotroski F-score7/9
▲Altman Z7.0 (safe)
▲Net debt / EBITDA-1.9x
▲Analyst target+20% (26 analysts)

Discounted cash flow

Bear
$58
-27%
growth 9% · disc. 12.6% · term. 2.0%
Base
$88
+10%
growth 15% · disc. 11.6% · term. 2.5%
Bull
$125
+56%
growth 19% · disc. 10.6% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Today's price assumes free cash flow grows about 11% a year for 10 years.
Implied
+11%/yr
FCF, last 3 yrs
+52%/yr
FCF, last 5 yrs
+31%/yr
Revenue, last 3 yrs
+17%/yr
Revenue, last 5 yrs
+19%/yr
Same inputs as the DCF above: trailing free cash flow 1.4B, 11.6% discount rate, 2.5% growth after year 10, net cash and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.48 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Health Care

P/E (trailing)
sector median 29.9× · 54th pct
31.8×
pricier
Forward P/E
sector median 17.6× · 78th pct
25.7×
pricier
EV / EBITDA
sector median 15.8× · 66th pct
19.7×
pricier
Price / sales
sector median 3.1× · 73rd pct
6.1×
pricier
Price / book
sector median 3.5× · 88th pct
11.5×
pricier
FCF yield
sector median 4.1% · 55th pct
4.6%
cheaper

Forward EPS $3.12 vs trailing $2.52 (+24% expected growth). Forward P/E uses analysts' next-12-month estimate.

Quality & financial health

Gross margin
62.5%
Operating margin
22.9%
FCF margin
28.3%
Net margin
20.1%
Return on equity
38.1%
Return on invested capital
–
Net debt / EBITDA
-1.9×
Current ratio
1.7×
Interest cover
75.9×
Cash conversion (OCF/NI)
1.7×
Piotroski F-score 7/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✗ Long-term debt / assets fell✓ Current ratio improved✓ No share dilution✗ Gross margin improved✓ Asset turnover improved

Altman Z-score 7.0 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$96
+20%
Analysts
26
Strong Buy
Range
$79–$115
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$4.7B$836.3M$1.1B
2024$4.0B$576.2M$630.7M
2023$3.6B$541.5M$511.9M
2022$2.9B$341.2M$304.7M
2021$2.4B$216.9M$53.3M
2020$1.9B$549.7M$276.6M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +17.0%.

Earnings

Next report: 2026-10-29 · after close · EPS est 0.67
24-1025-0225-0525-0725-1026-0226-0426-070.000.70
EstimateActual (beat)Actual (miss)
ReportEPS estActualSurprise
2026-07-300.610.70+15.1%
2026-04-300.470.56+19.0%
2026-02-120.650.68+4.5%
2025-10-300.570.61+7.5%
2025-07-300.440.48+8.2%
2025-05-010.330.32-2.6%
2025-02-130.500.45-9.9%
2024-10-240.430.45+3.5%

Quarterly revenue

QuarterRevenueYoY
2026-06-30$1.3B+13.1%
2026-03-31$1.2B–
2025-12-31$1.3B–
2025-09-30$1.2B–
2025-06-30$1.2B–
Analyst actions
BTIG
2026-10-12 · main
Buy → Buy
PT $96
Barclays
2026-10-07 · init
→ Overweight
PT $115
RBC Capital
2026-10-01 · main
Outperform → Outperform
PT $105
Truist Securities
2026-09-18 · main
Buy → Buy
PT $102
TD Cowen
2026-09-18 · reit
Buy → Buy
PT $95
Argus Research
2026-08-04 · main
Buy → Buy
PT $96

Stats refreshed 2026-10-21 12:05:27 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

COTEAU

Independent research · Not investment advice · Important disclosures · Contact desk@coteau.app

Coteau Systematic Strategies publishes stock research and model portfolios. Results are hypothetical unless marked Live. Data: Yahoo Finance (15-min delayed), SEC EDGAR and the House Clerk.

Beta 0.9 · Oct 21, 2026