Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
DexCom Inc., liquidity ratios
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Current ratio | 1.99 | 5.11 | 5.58 | 5.47 | 7.64 | |
| Quick ratio | 1.72 | 4.50 | 5.11 | 5.05 | 7.25 | |
| Cash ratio | 1.34 | 3.79 | 4.41 | 4.26 | 6.23 |
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).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | DexCom Inc. current ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | DexCom Inc. quick ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | DexCom Inc. cash ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Current Ratio
DexCom Inc., current ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current assets | 3,668,800) | 3,684,400) | 3,424,800) | 1,969,400) | 1,699,500) | |
| Current liabilities | 1,839,300) | 720,800) | 614,100) | 360,200) | 222,400) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 1.99 | 5.11 | 5.58 | 5.47 | 7.64 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| Abbott Laboratories | 1.63 | 1.85 | 1.72 | 1.44 | — | |
| Cigna Group | 0.73 | 0.83 | 0.77 | 0.74 | — | |
| CVS Health Corp. | 0.94 | 0.88 | 0.91 | 0.94 | — | |
| Elevance Health Inc. | 1.40 | 1.47 | 1.55 | 1.65 | — | |
| Humana Inc. | 1.52 | 1.62 | 1.77 | 1.82 | — | |
| Intuitive Surgical Inc. | 4.40 | 5.08 | 6.86 | 4.53 | — | |
| Medtronic PLC | 1.86 | 2.65 | 2.13 | 2.59 | 2.28 | |
| UnitedHealth Group Inc. | 0.77 | 0.79 | 0.74 | 0.69 | — | |
| Current Ratio, Sector | ||||||
| Health Care Equipment & Services | 1.05 | 1.09 | 1.08 | 1.07 | — | |
| Current Ratio, Industry | ||||||
| Health Care | 1.15 | 1.21 | 1.21 | 1.34 | — | |
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).
1 2022 Calculation
Current ratio = Current assets ÷ Current liabilities
= 3,668,800 ÷ 1,839,300 = 1.99
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | DexCom Inc. current ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Quick Ratio
DexCom Inc., quick ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 642,300) | 1,052,600) | 817,600) | 446,200) | 1,137,000) | |
| Short-term marketable securities | 1,813,900) | 1,678,600) | 1,890,100) | 1,087,100) | 248,600) | |
| Accounts receivable, net | 713,300) | 514,300) | 428,500) | 286,300) | 226,700) | |
| Total quick assets | 3,169,500) | 3,245,500) | 3,136,200) | 1,819,600) | 1,612,300) | |
| Current liabilities | 1,839,300) | 720,800) | 614,100) | 360,200) | 222,400) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 1.72 | 4.50 | 5.11 | 5.05 | 7.25 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| Abbott Laboratories | 1.06 | 1.28 | 1.14 | 0.88 | — | |
| Cigna Group | 0.58 | 0.48 | 0.66 | 0.41 | — | |
| CVS Health Corp. | 0.62 | 0.55 | 0.53 | 0.52 | — | |
| Elevance Health Inc. | 1.27 | 1.33 | 1.42 | 1.52 | — | |
| Humana Inc. | 1.20 | 1.20 | 1.37 | 1.47 | — | |
| Intuitive Surgical Inc. | 3.56 | 4.34 | 5.96 | 3.75 | — | |
| Medtronic PLC | 1.30 | 1.91 | 1.50 | 1.90 | 1.71 | |
| UnitedHealth Group Inc. | 0.70 | 0.72 | 0.68 | 0.63 | — | |
| Quick Ratio, Sector | ||||||
| Health Care Equipment & Services | 0.83 | 0.83 | 0.85 | 0.78 | — | |
| Quick Ratio, Industry | ||||||
| Health Care | 0.85 | 0.89 | 0.90 | 1.00 | — | |
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).
1 2022 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 3,169,500 ÷ 1,839,300 = 1.72
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | DexCom Inc. quick ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Cash Ratio
DexCom Inc., cash ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 642,300) | 1,052,600) | 817,600) | 446,200) | 1,137,000) | |
| Short-term marketable securities | 1,813,900) | 1,678,600) | 1,890,100) | 1,087,100) | 248,600) | |
| Total cash assets | 2,456,200) | 2,731,200) | 2,707,700) | 1,533,300) | 1,385,600) | |
| Current liabilities | 1,839,300) | 720,800) | 614,100) | 360,200) | 222,400) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 1.34 | 3.79 | 4.41 | 4.26 | 6.23 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| Abbott Laboratories | 0.66 | 0.78 | 0.60 | 0.38 | — | |
| Cigna Group | 0.17 | 0.14 | 0.32 | 0.14 | — | |
| CVS Health Corp. | 0.23 | 0.18 | 0.18 | 0.15 | — | |
| Elevance Health Inc. | 0.86 | 0.95 | 1.04 | 1.08 | — | |
| Humana Inc. | 1.10 | 1.08 | 1.29 | 1.37 | — | |
| Intuitive Surgical Inc. | 2.90 | 3.66 | 5.30 | 3.13 | — | |
| Medtronic PLC | 0.85 | 1.27 | 1.06 | 1.16 | 1.11 | |
| UnitedHealth Group Inc. | 0.36 | 0.36 | 0.33 | 0.28 | — | |
| Cash Ratio, Sector | ||||||
| Health Care Equipment & Services | 0.46 | 0.46 | 0.50 | 0.42 | — | |
| Cash Ratio, Industry | ||||||
| Health Care | 0.47 | 0.51 | 0.53 | 0.63 | — | |
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).
1 2022 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 2,456,200 ÷ 1,839,300 = 1.34
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | DexCom Inc. cash ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |