Price to Operating Profit (P/OP)
since 2005
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DexCom Inc. pages available for free this week:
- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Calculation
DexCom Inc., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Operating income (loss)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 exhibited a generally upward trajectory from 2006 to 2023, with notable volatility in the earlier years. Initially, the price declined from $4.25 in 2006 to a low of $0.82 in 2009, reflecting a period of significant depreciation. Following this trough, the share price demonstrated a strong recovery and growth trend, rising to $10.86 by 2014 and further accelerating to reach a peak of $107.24 in 2023. This growth indicates improved market confidence and value appreciation over the long term.
- Operating Profit Per Share
- The operating profit per share was negative from 2006 through 2019, indicating sustained operating losses. The losses showed improvement over time, reducing from -$0.32 in 2006 to a low of -$0.07 in 2014, then fluctuating before worsening slightly to -$0.52 in 2019. A significant turnaround occurred starting in 2020, with a positive operating profit per share of $0.39, which further increased to $1.01 by 2023. This shift signifies the company's transition to profitability at the operating level.
- P/OP Ratio Analysis
- The price-to-operating profit (P/OP) ratio is only available from 2020 onwards, reflecting the positive operating profit per share during this period. The ratio values were 162.33 in 2020, 131.73 in 2021, 148.63 in 2022, and 105.93 in 2023. These high ratios suggest that the market price has been valued at a substantial premium relative to operating profits. The declining trend in the P/OP ratio from 2020 to 2023 may indicate either improving operating profits relative to price appreciation or a moderation in market optimism.
- Overall Insights
- The data reveals a company that faced persistent operating losses for over a decade but stabilized and transitioned to operating profitability starting in 2020. The share price performance aligns with this trend, with considerable appreciation occurring primarily after 2013, coinciding with the reduction in losses and eventual profitability. The market has consistently valued the company's shares at a high premium relative to operating profits in recent years, reflecting either strong growth expectations or investor confidence in future performance.
Comparison to Competitors
DexCom Inc., P/OP, long-term trends, comparison to competitors
| DexCom Inc. | Abbott Laboratories | 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).