| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 25 | 32.7x | 17.8x | Bottom tier | |
Growth | 86 | 15.5% | 7.1% | Top tier | |
Quality | 94 | 18.4% | 4.5% | Top tier | |
Safety | 83 | — | 2.6x | Top tier | |
Capital Return | 85 | — | 2.12% | Top tier | |
Momentum | 77 | 10.2% | 2.9% | Top tier | |
Sentiment | 61 | 15 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
DexCom develops continuous glucose monitoring systems that allow users to track glucose levels in real time, and its portfolio includes Dexcom G7, G7 15-day, G6, Stelo, Dexcom Flex, and Dexcom ONE+. Revenue is generated from selling these systems through healthcare channels and commercial and international markets, while expanding the user base from insulin-dependent diabetes patients to type 2 diabetes patients who do not use insulin, in addition to metabolic health applications. The company supports this expansion by improving the user experience, integrating with pumps such as Tandem Mobi, and working to expand insurance coverage.
In fiscal year 2026 Q2, DexCom’s revenue according to EDGAR was approximately $1.3 billion, gross profit was $830.0 million, net income was $249.1 million, and earnings per share were $0.64. Management’s non-GAAP metrics showed revenue of $1.31 billion, with year-over-year growth of 13%, gross profit of $838.5 million at a margin of 64.1% versus 60.1% a year earlier, and operating income of $328.3 million at a margin of 25.1% versus 19.2%. Adjusted net income was $269.1 million and adjusted earnings per share were $0.70, up 46% year over year.
United States revenue was $933 million in fiscal year 2026 Q2, up 11%, and represented approximately 71% of quarterly revenue, while international revenue was $375 million, up 19% on a reported basis and 16% organically, and represented about 29%. DexCom generated free cash flow exceeding $600 million during the first half of fiscal year 2026, more than double its level in the corresponding period of fiscal year 2025, and ended the quarter with approximately $1.9 billion in cash and cash equivalents.
The analyst consensus rates DXCM stock as a Buy, with an average target of $89.71 and a wide range of $64 to $105, reflecting meaningful variation in estimates of the coverage, growth, and margin trajectories. The average target is approximately 3% below the 52-week range high of $92.59, while the highest target exceeds that high and the lowest target falls clearly below it; therefore, the valuation combines expectations of long-term growth with execution and reimbursement risks that could produce a wide range of outcomes. The data does not provide a consistent price-to-earnings multiple that can be used as an additional anchor, so analyst targets and the 52-week range of $54.11–92.59 remain the most important available valuation references.
Figures in the text are as of 2026-08-28; the live price is shown at the top of the page.
Revenue was $1.31 billion, up 13% year over year, with growth of 11% in the United States and 19% internationally. Non-GAAP gross margin increased to 64.1% from 60.1%, driven by manufacturing efficiency, improved quality, and the initial transition to G7 15-day. Operating income was $328.3 million at a margin of 25.1%, while adjusted net income reached $269.1 million and adjusted earnings per share reached $0.70.
CONNECT included approximately 300 people with type 2 diabetes who do not use insulin across 22 primary care sites in the United States. Over 26 weeks, A1C in the Dexcom group improved by 1.6 percentage points, a 0.9-point difference versus the control group, with more than five additional hours per day within the normal range. Median device wear was 97%, and the company submitted the data to CMS in support of expanding coverage to a targeted United States market comprising 25 million people.
G7 15-day became available to all adult G7 users in the United States after its integration with Tandem Mobi, and management aims to convert nearly 50% of the United States customer base to it by the end of fiscal year 2026. The initial conversion to the system contributed to improved gross margin during fiscal year 2026 Q2, and management expects a greater impact as repeat purchases expand in fiscal year 2027. The system also received Health Canada approval, paving the way for international expansion to begin during the second half of fiscal year 2026.
Automated analysis for informational purposes only — not investment advice.
The Road to 100 initiative aims to secure coverage for 25 million people in the United States with type 2 diabetes who do not use insulin. Commercial coverage has become available to more than 7 million of them through the four largest pharmacy benefit managers, while management believes approximately 9 million people already have continuous monitoring coverage but do not use it. The company expects a CMS decision before the end of 2026 and assumes in its plan that expanded coverage will take effect in mid-2027.
In July 2026, DexCom launched the redesigned Stelo application, which includes AI-powered insights and improved food logging through barcode scanning or photographing a meal. During fiscal year 2026 Q2, it acquired Nutrisense, a platform that uses continuous monitoring data to provide personalized nutrition insights and guidance. Management said incremental annual revenue unrelated to the pass-through of monitoring devices does not exceed a few million dollars, while the primary value lies in integrating the technology across Stelo, G7, and the rest of the portfolio.
DexCom expects an approximately $15 million negative impact on international revenue in the second half of fiscal year 2026 due to foreign exchange rates, alongside more difficult international year-over-year comparisons. The ramp-up of the Ireland plant will add hiring, training, and depreciation costs before reaching full productivity, which could temporarily limit margin expansion. Part of the growth opportunity among 25 million United States patients also depends on the CMS decision and the timing of coverage taking effect, while insider net selling reached $8.2 million over the three months through August 20, 2026, with the possibility that these sales were prearranged.
