Price to Sales (P/S)
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Calculation
DexCom Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenue1 (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 declining trend from 2006 to 2009, dropping from $4.25 to $0.82. Thereafter, a recovery phase commenced, with the price increasing moderately until 2013. A substantial acceleration in share price growth occurred from 2013 onwards, peaking at $102.55 by early 2021. The price then stabilized, retaining values slightly above $100 through early 2023.
- Sales Per Share Trend
- Sales per share data, available starting in 2007, shows a consistent upward trajectory throughout the period. Starting from $0.02 in 2007, this metric increased steadily every year, reaching $7.53 by early 2023. This reflects continuous growth in revenue on a per-share basis, indicating improving operational performance or expansion.
- Price-to-Sales (P/S) Ratio Trend
- The P/S ratio displayed considerable volatility. Initial values in 2007 were extremely high at 110.35, likely indicating the share price was significantly overvalued relative to sales at that time. There was a sharp decline to 9.83 by 2012, suggesting valuation correction or sales growth outpacing price increases. After fluctuating slightly through 2014, it again rose to peak values around 20 in 2020 and 2021 before decreasing modestly to 14.24 in 2023. This suggests the market's valuation relative to sales inflated during the recent share price surge but moderated afterward.
- Overall Insights
- The data reveals a company that initially struggled with declining share prices coinciding with very high valuation multiples relative to sales. Sustained growth in sales per share appears to have supported a substantial rise in share price from 2013 onward. Despite an overall increase in P/S ratios during the recent years, the ratio remained considerably lower than the extremely high levels observed in 2007, indicating a potentially more balanced valuation environment. The stabilization of share price and modest decline in P/S in the final years may reflect market reassessment of growth expectations or maturity in the company's business performance.
Comparison to Competitors
DexCom Inc., P/S, 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/S, 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/S, 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).