Question 1

What is DexCom's P/FCF ratio?

Accepted Answer

DexCom (DXCM) P/FCF ratio is 19.7× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. 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 P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for DexCom?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For DexCom specifically, the relevant sector benchmark is the current sector median of 19.1×.

Question 5

Is DexCom's P/FCF ratio high or low?

Accepted Answer

DexCom's P/FCF ratio of 19.7× is below its own 5-year average of 177.7× and above the sector median of 19.1×. That places the current reading at the 2th 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 P/FCF ratio range?

Accepted Answer

In the available daily series, DexCom (DXCM) P/FCF ratio has ranged from a low of 15.9× in 2026 to a high of 10104.6× in 2016. The 5-year average is 177.7× and the 5-year median is 92.7×.

Question 7

What was DexCom's P/FCF ratio in 2025?

Accepted Answer

DexCom (DXCM) P/FCF ratio at the end of 2025 was 23.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does DexCom's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). 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	$1.08B	23.8×	-25.4×	Dec 31, 2025
2024	$31.1B	$631M	49.2×	-43.9×	Dec 31, 2024
2023	$47.7B	$512M	93.1×	-50.5×	Dec 31, 2023
2022	$43.7B	$305M	143.6×	-833.6×	Dec 31, 2022
2021	$52.1B	$53.3M	977.2×	+851.0×	Dec 31, 2021
2020	$34.9B	$277M	126.2×	-22.8×	Dec 31, 2020
2019	$20B	$135M	149.0×	-40.4×	Dec 31, 2019
2018	$10.6B	$56.1M	189.4×	+2.6×	Dec 31, 2018
2017	$4.86B	$26M	186.8×	-9917.8×	Dec 31, 2017
2016	$5.05B	$500K	10104.6×	+9679.9×	Dec 31, 2016
2015	$6.67B	$15.7M	424.7×	-146.5×	Dec 31, 2015
2014	$4.23B	$7.4M	571.2×	—	Dec 31, 2014
2013	$2.52B	-$5.5M	—	—	Dec 31, 2013
2012	$934M	-$42.6M	—	—	Dec 31, 2012
2011	$611M	-$38.1M	—	—	Dec 31, 2011
2010	$776M	-$49.5M	—	—	Dec 31, 2010
2009	$358M	-$42.4M	—	—	Dec 31, 2009
2008	$81.6M	-$39.9M	—	—	Dec 31, 2008
2007	$250M	-$36.7M	—	—	Dec 31, 2007
2006	$269M	-$47.1M	—	—	Dec 31, 2006
2005	$283M	-$27.2M	—	—	Dec 31, 2005


Align Technology (ALGN)	17.8×
McKesson (MCK)	17.8×
Gilead Sciences (GILD)	16.9×
Pfizer (PFE)	16.7×
Humana (HUM)	16.4×
Quest Diagnostics (DGX)	16.3×
UnitedHealth Group (UNH)	15.9×
Labcorp Holdings (LH)	15.9×
Becton, Dickinson and (BDX)	14.0×
HCA Healthcare (HCA)	13.5×
Elevance Health (ELV)	13.4×
Incyte (INCY)	12.9×
CVS Health (CVS)	12.4×
Universal Health Services (UHS)	12.2×
Baxter International (BAX)	12.1×
Cardinal Health (CAH)	11.3×
IQVIA (IQV)	11.3×
Bristol-Myers Squibb (BMY)	10.4×
Biogen (BIIB)	10.3×
Zimmer Biomet Holdings (ZBH)	9.6×
Cigna (CI)	9.1×
Viatris (VTRS)	9.1×
DaVita (DVA)	6.9×
Teladoc Health (TDOC)	3.9×
Centene (CNC)	2.5×

P/FCF Ratio for DexCom (DXCM) 2014-2026

P/FCF Ratio daily chart for DexCom (DXCM)

Historical P/FCF Ratio for DexCom (DXCM) from 2005 to 2025

About P/FCF Ratio at DexCom (DXCM)

DexCom P/FCF Ratio by Year

DexCom P/FCF Ratio 2025: 23.8×

DexCom P/FCF Ratio 2024: 49.2×

DexCom P/FCF Ratio 2023: 93.1×

DexCom P/FCF Ratio 2022: 143.6×

DexCom P/FCF Ratio 2021: 977.2×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

DexCom (DXCM) Key Financials