Price to Book Value (P/BV)
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Calculation
DexCom Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity (deficit)1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 9, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2012 | = | ÷ | = | ÷ | |||||||
| Mar 3, 2011 | = | ÷ | = | ÷ | |||||||
| Mar 9, 2010 | = | ÷ | = | ÷ | |||||||
| Mar 5, 2009 | = | ÷ | = | ÷ | |||||||
| Mar 11, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2006 | = | ÷ | = | ÷ |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of DexCom Inc. Annual Report.
- Share Price Trend
- The share price showed notable volatility and significant growth over the analyzed period. Initially declining from $4.25 in early 2006 to a low of $0.82 in early 2009, the price then strengthened markedly, reaching above $100 by 2021. After peaking at $102.55 in February 2021, the share price stabilized in the range of approximately $101.75 to $107.24 through early 2023.
- Book Value per Share (BVPS) Trend
- The book value per share exhibited fluctuations and negative values in some years, particularly between 2007 and 2010, with a minimum of -$0.21 in early 2009. Thereafter, BVPS turned positive and displayed a clear upward trend, rising from $0.25 in 2011 to a peak of $5.8 in early 2022, before slightly decreasing to $5.52 in early 2023.
- Price-to-Book Value (P/BV) Ratio Analysis
- The P/BV ratio experienced considerable variability aligned with trends in share price and BVPS. The ratio was extremely high in some early periods, notably peaking at 37.61 in 2014 when the share price surged but BVPS remained relatively low. Following this peak, the ratio generally declined, indicating some correction relative to the book value. From 2018 onward, the ratio stabilized within a range of roughly 17.55 to 26.17, suggesting the market price remained significantly higher than the book value, but with less extreme fluctuations than in earlier years.
- Overall Observations
- The data illustrates an early period of financial instability, with negative book values and depressed share prices. Subsequent years show substantial recovery and growth, especially after 2010. The large increase in the share price, particularly post-2013, outpaced book value growth, resulting in high P/BV ratios that reflect strong investor expectations or intangible asset value not captured in book value. The stabilization of both share price and P/BV in recent years may indicate the market's pricing adjustment as financial fundamentals improved.
Comparison to Competitors
DexCom Inc., P/BV, long-term trends, comparison to competitors
| DexCom Inc. | Abbott Laboratories | CVS Health Corp. | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|---|
| Feb 9, 2023 | |||||||
| Feb 14, 2022 | |||||||
| Feb 11, 2021 | |||||||
| Feb 13, 2020 | |||||||
| Feb 21, 2019 | |||||||
| Feb 27, 2018 | |||||||
| Feb 28, 2017 | |||||||
| Feb 23, 2016 | |||||||
| Feb 25, 2015 | |||||||
| Feb 20, 2014 | |||||||
| Feb 21, 2013 | |||||||
| Feb 23, 2012 | |||||||
| Mar 3, 2011 | |||||||
| Mar 9, 2010 | |||||||
| Mar 5, 2009 | |||||||
| Mar 11, 2008 | |||||||
| Feb 27, 2007 | |||||||
| Feb 27, 2006 |
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., P/BV, long-term trends, comparison to sector (health care equipment & services)
| DexCom Inc. | Health Care Equipment & Services | |
|---|---|---|
| Feb 9, 2023 | ||
| Feb 14, 2022 | ||
| Feb 11, 2021 | ||
| Feb 13, 2020 | ||
| Feb 21, 2019 | ||
| Feb 27, 2018 | ||
| Feb 28, 2017 | ||
| Feb 23, 2016 | ||
| Feb 25, 2015 | ||
| Feb 20, 2014 | ||
| Feb 21, 2013 | ||
| Feb 23, 2012 | ||
| Mar 3, 2011 | ||
| Mar 9, 2010 | ||
| Mar 5, 2009 | ||
| Mar 11, 2008 | ||
| Feb 27, 2007 | ||
| Feb 27, 2006 |
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., P/BV, long-term trends, comparison to industry (health care)
| DexCom Inc. | Health Care | |
|---|---|---|
| Feb 9, 2023 | ||
| Feb 14, 2022 | ||
| Feb 11, 2021 | ||
| Feb 13, 2020 | ||
| Feb 21, 2019 | ||
| Feb 27, 2018 | ||
| Feb 28, 2017 | ||
| Feb 23, 2016 | ||
| Feb 25, 2015 | ||
| Feb 20, 2014 | ||
| Feb 21, 2013 | ||
| Feb 23, 2012 | ||
| Mar 3, 2011 | ||
| Mar 9, 2010 | ||
| Mar 5, 2009 | ||
| Mar 11, 2008 | ||
| Feb 27, 2007 | ||
| Feb 27, 2006 |
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).