DexCom, Inc. (DXCM)
SuperavaliadaFundamental
75
Preço
$86.29
Capitalização de Mercado
$33.01B
Parte 1 · Quanto vale a empresa
Visão Geral
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.
Como gera receita
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.
Receita 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.
Vantagem competitiva
Custos de mudança · EstreitaPatients 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.
O que impulsiona a procura
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.
Principais riscos
- 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.
Concentração 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.
Os 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.
Os argumentos 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
Generated on 18 de setembro de 2026 with claude-haiku-4-5 — shared with all users
Abbott's FreeStyle Libre sensors are the direct rival to Dexcom's G7 and Stelo, sold to the same people with diabetes through the same pharmacies, prescriptions and over-the-counter channels worldwide.
Medtronic sells its own glucose sensors (Guardian and Simplera) bundled with its insulin pumps, competing for the insulin-dependent patients who are Dexcom's core customers.
Senseonics offers Eversense, an implantable sensor that lasts up to a year, as an alternative to Dexcom's disposable adhesive sensors for the same continuous-monitoring patients.
Roche's diabetes care division sells glucose monitoring products to the same patients and health systems, and is named by Dexcom itself among its competitors in its annual report.
Ascensia, the privately held owner of the Contour brand, competes for the same diabetes monitoring customers and pharmacy shelf space, in the United States and abroad.
LifeScan, the private company behind the OneTouch brand, sells glucose monitoring products to the same people with diabetes and is listed by Dexcom among its competitors.
Balanço & Liquidez
Receita
$4.97B
Últimos 12 meses (até 30/06/2026)
Resultado Líquido
$1000M
Últimos 12 meses (até 30/06/2026)
Fluxo de Caixa Livre
$1.08B
Capital Próprio Total
$2.75B
Passivo Total
$3.59B
Rácio de Liquidez
1.73
Cobertura de Juros
75.94
Dívida/EBITDA
1.20
Resultados Por Ação
Receita & Resultado Líquido
Fluxo de Caixa Livre
Decomposição dos Resultados
Demonstração histórica
Margens ao longo do tempo
A dívida ao longo do tempo
Quanto pesa a dívida
Grelha do crescimento
Crescimento — Receitas
Estimativa de Valor Justo
Valor Justo
$67.58
Preço Atual
$86.29
Margem de Segurança
-27.7%
Intervalo de Valor Justo
$43.93 - $91.23
Dispersão entre os métodos de avaliação utilizados, não um intervalo de confiança calibrado estatisticamente.
Métodos de Estimativa
Métricas de Avaliação
Rácio P/E
34.24
ROE
30.5%
Rácio P/B
12.42
P/FCF
23.18
Margem Bruta
62.5%
ROIC
22.0%
Radar de Rentabilidade
Criação de Valor (Vantagem Competitiva)
ROIC
22.0%
WACC
12.0%
ROIC − WACC
+9.9 pp
O ROIC supera o custo do capital — a empresa está a criar valor para os acionistas.
Critérios de Análise Fundamental
Aprovado (22)
- EPS shows upward trend
- Price CAGR 19.38%
- ROIC 22.0%
- Gross Margin 62.5%
- P/FCF 23.18
- 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
Reprovado (4)
- P/B Ratio 12.42
- Price below Graham Number
- DCF valuation (Overvalued)
- PEG Ratio 3.46
Indisponível (1)
- Dividend Payout NaN%
Piotroski F-Score
Saúde financeira sólida
Qualidade dos Resultados
Alta qualidade: resultados respaldados por caixa
Diluição de Ações
A recomprar ações. Favorável ao acionista
Participações institucionais
Governação
Equipa Executiva
| Nome | Cargo | Idade |
|---|---|---|
| Mr. Kevin Ronald Sayer | Executive Chairman of the Board | 67 |
| Mr. Jacob Steven Leach | President, CEO & Director | 47 |
| 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 | - |
| Christine Pospisil | Director of Medical Science & Education | - |
Risco de Auditoria
2
Risco do Conselho
7
Risco de Remuneração
5
Risco dos Direitos dos Acionistas
6
Parte 2 · O preço e o momento de entrar
Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.
Documentos
- Ver documento
Relatório anual (10-K)
Uma visão anual do negócio, dos resultados financeiros e dos riscos da empresa.
Arquivado em 2026-02-12
- Ver documento
Relatório trimestral (10-Q)
Uma atualização sobre o desempenho financeiro dos últimos três meses.
Arquivado em 2026-07-30
- Ver documento
Relatório de fato relevante (8-K)
Um aviso sobre um fato relevante, como uma mudança na liderança ou um grande anúncio.
Arquivado em 2026-09-14
via SEC EDGAR
Histórico de Resultados
via SEC EDGAR
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