Current Ratio
since 2005
Calculation
DexCom Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 1.99 | = | 3,668,800) | ÷ | 1,839,300) |
| Dec 31, 2021 | 5.11 | = | 3,684,400) | ÷ | 720,800) |
| Dec 31, 2020 | 5.58 | = | 3,424,800) | ÷ | 614,100) |
| Dec 31, 2019 | 5.47 | = | 1,969,400) | ÷ | 360,200) |
| Dec 31, 2018 | 7.64 | = | 1,699,500) | ÷ | 222,400) |
| Dec 31, 2017 | 5.36 | = | 744,700) | ÷ | 138,900) |
| Dec 31, 2016 | 2.73 | = | 280,000) | ÷ | 102,400) |
| Dec 31, 2015 | 3.46 | = | 231,300) | ÷ | 66,900) |
| Dec 31, 2014 | 3.59 | = | 145,900) | ÷ | 40,600) |
| Dec 31, 2013 | 2.90 | = | 93,100) | ÷ | 32,100) |
| Dec 31, 2012 | 3.98 | = | 77,600) | ÷ | 19,500) |
| Dec 31, 2011 | 7.08 | = | 104,410) | ÷ | 14,741) |
| Dec 31, 2010 | 4.36 | = | 66,025) | ÷ | 15,129) |
| Dec 31, 2009 | 1.96 | = | 36,920) | ÷ | 18,796) |
| Dec 31, 2008 | 2.14 | = | 32,058) | ÷ | 14,996) |
| Dec 31, 2007 | 7.97 | = | 67,291) | ÷ | 8,447) |
| Dec 31, 2006 | 10.97 | = | 57,356) | ÷ | 5,230) |
| Dec 31, 2005 | 7.21 | = | 51,013) | ÷ | 7,074) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The liquidity position from 2005 to 2022 is characterized by substantial growth in the scale of current accounts and significant fluctuations in the current ratio. While a current ratio above 1.0 has been maintained throughout the entire period, indicating a consistent ability to cover short-term obligations, the magnitude of this liquidity cushion has varied considerably.
- Scaling of Current Accounts
- Current assets grew exponentially from $51.01 million in 2005 to $3.67 billion by 2022. Current liabilities followed a similar upward trajectory, increasing from $7.07 million in 2005 to $1.84 billion in 2022. The growth in assets generally outpaced the growth in liabilities for the majority of the period, though the gap narrowed significantly in the final year.
- Current Ratio Trends and Volatility
- The current ratio exhibited several distinct phases of volatility. An initial peak occurred in 2006 at 10.97, followed by a sharp decline to 1.96 by 2009. A period of recovery followed, with the ratio rising to 7.08 in 2011 before stabilizing within a range of 2.73 to 3.59 between 2013 and 2016.
- Recent Liquidity Compression
- A secondary peak in liquidity was reached in 2018 with a current ratio of 7.64. Since 2018, a consistent downward trend has been observed, culminating in a ratio of 1.99 in 2022. This compression is primarily attributed to a substantial increase in current liabilities in 2022, which rose to $1.84 billion from $720.8 million in the previous year, effectively reducing the liquidity margin to its lowest level since 2009.
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Comparison to Competitors
DexCom Inc., current ratio, long-term trends, comparison to competitors
| DexCom Inc. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2022 | 1.99 | 1.63 | 1.40 | 4.40 | 1.86 | 0.77 |
| Dec 31, 2021 | 5.11 | 1.85 | 1.47 | 5.08 | 2.65 | 0.79 |
| Dec 31, 2020 | 5.58 | 1.72 | 1.55 | 6.86 | 2.13 | 0.74 |
| Dec 31, 2019 | 5.47 | 1.44 | 1.65 | 4.53 | 2.59 | 0.69 |
| Dec 31, 2018 | 7.64 | 1.62 | 1.56 | 5.28 | 2.28 | 0.73 |
| Dec 31, 2017 | 5.36 | 2.26 | 1.55 | 3.99 | 1.75 | 0.73 |
| Dec 31, 2016 | 2.73 | 4.02 | 1.61 | 5.45 | 3.29 | 0.69 |
| Dec 31, 2015 | 3.46 | 1.54 | 1.62 | 4.46 | 3.36 | 0.74 |
| Dec 31, 2014 | 3.59 | 1.45 | 1.72 | 3.69 | 3.82 | 0.77 |
| Dec 31, 2013 | 2.90 | 2.02 | 1.82 | 5.07 | 4.57 | 0.73 |
| Dec 31, 2012 | 3.98 | 2.36 | 1.78 | 4.71 | 1.62 | 0.78 |
| Dec 31, 2011 | 7.08 | 1.54 | 1.71 | 4.57 | 1.93 | 0.85 |
| Dec 31, 2010 | 4.36 | 1.29 | 1.87 | 4.66 | 1.92 | 0.78 |
| Dec 31, 2009 | 1.96 | 1.79 | 1.91 | 4.18 | 2.37 | 0.82 |
| Dec 31, 2008 | 2.14 | 1.47 | 0.81 | 4.28 | 2.07 | 0.76 |
| Dec 31, 2007 | 7.97 | 1.54 | 0.91 | 4.63 | 3.09 | 0.84 |
| Dec 31, 2006 | 10.97 | 0.94 | 0.77 | 4.64 | 2.36 | 0.87 |
| Dec 31, 2005 | 7.21 | 1.54 | 1.75 | 3.60 | 2.20 | 0.64 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Health Care Equipment & Services)
DexCom Inc., current ratio, long-term trends, comparison to sector (health care equipment & services)
| DexCom Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2022 | 1.99 | 1.13 |
| Dec 31, 2021 | 5.11 | 1.22 |
| Dec 31, 2020 | 5.58 | 1.19 |
| Dec 31, 2019 | 5.47 | 1.17 |
| Dec 31, 2018 | 7.64 | 1.21 |
| Dec 31, 2017 | 5.36 | 1.24 |
| Dec 31, 2016 | 2.73 | 1.43 |
| Dec 31, 2015 | 3.46 | 1.36 |
| Dec 31, 2014 | 3.59 | 1.43 |
| Dec 31, 2013 | 2.90 | 1.54 |
| Dec 31, 2012 | 3.98 | 1.47 |
| Dec 31, 2011 | 7.08 | 1.36 |
| Dec 31, 2010 | 4.36 | 1.29 |
| Dec 31, 2009 | 1.96 | 1.46 |
| Dec 31, 2008 | 2.14 | 1.04 |
| Dec 31, 2007 | 7.97 | 1.14 |
| Dec 31, 2006 | 10.97 | 0.99 |
| Dec 31, 2005 | 7.21 | 1.31 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
DexCom Inc., current ratio, long-term trends, comparison to industry (health care)
| DexCom Inc. | Health Care | |
|---|---|---|
| Dec 31, 2022 | 1.99 | 1.23 |
| Dec 31, 2021 | 5.11 | 1.31 |
| Dec 31, 2020 | 5.58 | 1.30 |
| Dec 31, 2019 | 5.47 | 1.48 |
| Dec 31, 2018 | 7.64 | 1.52 |
| Dec 31, 2017 | 5.36 | 1.55 |
| Dec 31, 2016 | 2.73 | 1.73 |
| Dec 31, 2015 | 3.46 | 1.70 |
| Dec 31, 2014 | 3.59 | 1.92 |
| Dec 31, 2013 | 2.90 | 1.96 |
| Dec 31, 2012 | 3.98 | 1.84 |
| Dec 31, 2011 | 7.08 | 1.94 |
| Dec 31, 2010 | 4.36 | 1.81 |
| Dec 31, 2009 | 1.96 | 1.78 |
| Dec 31, 2008 | 2.14 | 1.44 |
| Dec 31, 2007 | 7.97 | 1.53 |
| Dec 31, 2006 | 10.97 | 1.39 |
| Dec 31, 2005 | 7.21 | 1.63 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).