Question 1

What is DexCom's P/B ratio?

Accepted Answer

DexCom (DXCM) P/B ratio is 9.5× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. 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/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for DexCom?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For DexCom specifically, the relevant sector benchmark is the current sector median of 3.2×.

Question 5

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

Accepted Answer

DexCom's P/B ratio of 9.5× is below its own 5-year average of 17.7× and above the sector median of 3.2×. That places the current reading at the 6th 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/B ratio range?

Accepted Answer

In the available daily series, DexCom (DXCM) P/B ratio has ranged from a low of 4.7× in 2006 to a high of 143.7× in 2009. The 5-year average is 17.7× and the 5-year median is 18.3×.

Question 7

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

Accepted Answer

DexCom (DXCM) P/B ratio at the end of 2025 was 9.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). 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	$2.75B	9.3×	-5.4×	Dec 31, 2025
2024	$31.1B	$2.1B	14.8×	-8.3×	Dec 31, 2024
2023	$47.7B	$2.07B	23.0×	+2.5×	Dec 31, 2023
2022	$43.7B	$2.13B	20.5×	-5.0×	Dec 31, 2022
2021	$52.1B	$2.04B	25.5×	+6.4×	Dec 31, 2021
2020	$34.9B	$1.83B	19.1×	-3.6×	Dec 31, 2020
2019	$20B	$883M	22.7×	+6.7×	Dec 31, 2019
2018	$10.6B	$663M	16.0×	+4.4×	Dec 31, 2018
2017	$4.86B	$419M	11.6×	-6.2×	Dec 31, 2017
2016	$5.05B	$284M	17.8×	-12.3×	Dec 31, 2016
2015	$6.67B	$221M	30.1×	-0.0×	Dec 31, 2015
2014	$4.23B	$140M	30.2×	+0.2×	Dec 31, 2014
2013	$2.52B	$84.1M	29.9×	+17.8×	Dec 31, 2013
2012	$934M	$77M	12.1×	+6.3×	Dec 31, 2012
2011	$611M	$105M	5.8×	-6.9×	Dec 31, 2011
2010	$776M	$61M	12.7×	—	Dec 31, 2010
2009	$358M	-$18.4M	—	—	Dec 31, 2009
2008	$81.6M	-$19.5M	—	—	Dec 31, 2008
2007	$250M	$7.12M	35.2×	+30.4×	Dec 31, 2007
2006	$269M	$56.8M	4.7×	-1.0×	Dec 31, 2006
2005	$283M	$49.4M	5.7×	—	Dec 31, 2005


Charles River (CRL)	2.6×
Danaher (DHR)	2.6×
Spruce Biosciences (SPRB)	2.6×
Regeneron Pharmaceuticals (REGN)	2.6×
Henry Schein (HSIC)	2.5×
Labcorp Holdings (LH)	2.5×
Solventum (SOLV)	2.3×
Medtronic (MDT)	2.2×
Elevance Health (ELV)	1.9×
Becton, Dickinson and (BDX)	1.8×
Pfizer (PFE)	1.8×
Cigna (CI)	1.7×
Waters Corporation (WAT)	1.6×
Cooper Companies (COO)	1.5×
Universal Health Services (UHS)	1.5×
Biogen (BIIB)	1.4×
Baxter International (BAX)	1.4×
Zimmer Biomet Holdings (ZBH)	1.4×
Revvity (RVTY)	1.4×
CVS Health (CVS)	1.2×
Humana (HUM)	1.1×
Viatris (VTRS)	1.1×
Ovid Therapeutics (OVID)	0.8×
Centene (CNC)	0.8×
Teladoc Health (TDOC)	0.7×

P/B Ratio for DexCom (DXCM) 2005-2026

P/B Ratio daily chart for DexCom (DXCM)

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

About P/B Ratio at DexCom (DXCM)

DexCom P/B Ratio by Year

DexCom P/B Ratio 2025: 9.3×

DexCom P/B Ratio 2024: 14.8×

DexCom P/B Ratio 2023: 23.0×

DexCom P/B Ratio 2022: 20.5×

DexCom P/B Ratio 2021: 25.5×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

DexCom (DXCM) Key Financials