Stock Analysis on Net

DexCom Inc. (NASDAQ:DXCM)

$22.49

This company has been moved to the archive! The financial data has not been updated since October 26, 2023.

Price to Book Value (P/BV)
since 2005

Microsoft Excel

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Calculation

DexCom Inc., P/BV, long-term trends, calculation

Microsoft Excel

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

Microsoft Excel

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)

Microsoft Excel

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)