Question 1

What is DexCom's EV/EBITDA ratio?

Accepted Answer

DexCom (DXCM) EV/EBITDA ratio is 18.3× as of July 22, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for DexCom?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For DexCom specifically, the relevant sector benchmark is the current sector median of 14.2×.

Question 5

Is DexCom's EV/EBITDA ratio high or low?

Accepted Answer

DexCom's EV/EBITDA ratio of 18.3× is below its own 5-year average of 62.5× and above the sector median of 14.2×. That places the current reading at the 4th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is DexCom's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, DexCom (DXCM) EV/EBITDA ratio has ranged from a low of 14.7× in 2026 to a high of 1962.2× in 2018. The 5-year average is 62.5× and the 5-year median is 52.8×.

Question 7

What was DexCom's EV/EBITDA ratio in 2025?

Accepted Answer

DexCom (DXCM) EV/EBITDA ratio at the end of 2025 was 18.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does DexCom's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$25.7B	$1.36B	18.4×	-14.4×	Dec 31, 2025
2024	$31.1B	$946M	32.8×	-19.0×	Dec 31, 2024
2023	$47.7B	$917M	51.9×	-24.9×	Dec 31, 2023
2022	$43.7B	$566M	76.7×	-67.9×	Dec 31, 2022
2021	$52.1B	$356M	144.6×	+54.3×	Dec 31, 2021
2020	$34.9B	$377M	90.3×	-1.9×	Dec 31, 2020
2019	$20B	$213M	92.2×	—	Dec 31, 2019
2018	$10.6B	-$74.7M	—	—	Dec 31, 2018
2017	$4.86B	-$19.7M	—	—	Dec 31, 2017
2016	$5.05B	-$49.2M	—	—	Dec 31, 2016
2015	$6.67B	-$46.4M	—	—	Dec 31, 2015
2014	$4.23B	-$13.1M	—	—	Dec 31, 2014
2013	$2.52B	-$21.9M	—	—	Dec 31, 2013
2012	$934M	-$49.1M	—	—	Dec 31, 2012
2011	$611M	-$41M	—	—	Dec 31, 2011
2010	$776M	-$51.7M	—	—	Dec 31, 2010
2009	$358M	-$43.1M	—	—	Dec 31, 2009
2008	$81.6M	-$49.2M	—	—	Dec 31, 2008
2007	$250M	-$43.3M	—	—	Dec 31, 2007
2006	$269M	-$45.9M	—	—	Dec 31, 2006
2005	$283M	-$30.7M	—	—	Dec 31, 2005


Gilead Sciences (GILD)	13.2×
Becton, Dickinson and (BDX)	12.9×
Regeneron Pharmaceuticals (REGN)	12.9×
Medtronic (MDT)	12.9×
STERIS (STE)	12.8×
Pfizer (PFE)	12.5×
Align Technology (ALGN)	12.4×
IQVIA (IQV)	12.2×
GE HealthCare (GEHC)	12.0×
Henry Schein (HSIC)	11.9×
Bristol-Myers Squibb (BMY)	11.5×
Zimmer Biomet Holdings (ZBH)	11.2×
AptarGroup (ATR)	11.1×
Viatris (VTRS)	11.0×
Biogen (BIIB)	10.8×
HCA Healthcare (HCA)	10.0×
Elevance Health (ELV)	9.7×
AstraZeneca (AZN)	8.7×
DaVita (DVA)	8.5×
Incyte (INCY)	7.9×
Cigna (CI)	7.6×
Novo Nordisk (NVO)	6.3×
Solventum (SOLV)	5.8×
Universal Health Services (UHS)	5.7×
Humana (HUM)	4.5×

EV/EBITDA for DexCom (DXCM) 2019-2026

EV/EBITDA daily chart for DexCom (DXCM)

Historical EV/EBITDA for DexCom (DXCM) from 2005 to 2025

About EV/EBITDA at DexCom (DXCM)

DexCom EV/EBITDA by Year

DexCom EV/EBITDA 2025: 18.4×

DexCom EV/EBITDA 2024: 32.8×

DexCom EV/EBITDA 2023: 51.9×

DexCom EV/EBITDA 2022: 76.7×

DexCom EV/EBITDA 2021: 144.6×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

DexCom (DXCM) Key Financials