Stock Analysis on Net

DexCom Inc. (NASDAQ:DXCM)

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

Enterprise Value to FCFF (EV/FCFF) 

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Free Cash Flow to The Firm (FCFF)

DexCom Inc., FCFF calculation

US$ in thousands

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12 months ended: Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Net income (loss) 341,200 154,700 493,600 101,100 (127,100)
Net noncash charges 301,600 419,800 2,800 207,300 291,200
Changes in operating assets and liabilities 26,700 (132,000) (20,800) 6,100 (40,900)
Net cash provided by operating activities 669,500 442,500 475,600 314,500 123,200
Cash paid during the year for interest, net of tax1 10,652 10,319 8,374 10,090 2,844
Purchases of property and equipment (364,800) (389,200) (199,000) (180,000) (67,100)
Free cash flow to the firm (FCFF) 315,352 63,619 284,974 144,590 58,944

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).

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the DexCom Inc. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. DexCom Inc. FCFF decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Interest Paid, Net of Tax

DexCom Inc., interest paid, net of tax calculation

US$ in thousands

Microsoft Excel
12 months ended: Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Effective Income Tax Rate (EITR)
EITR1 12.69% 11.04% 21.00% 2.98% 21.00%
Interest Paid, Net of Tax
Cash paid during the year for interest, before tax 12,200 11,600 10,600 10,400 3,600
Less: Cash paid during the year for interest, tax2 1,548 1,281 2,226 310 756
Cash paid during the year for interest, net of tax 10,652 10,319 8,374 10,090 2,844

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 See details »

2 2022 Calculation
Cash paid during the year for interest, tax = Cash paid during the year for interest × EITR
= 12,200 × 12.69% = 1,548


Enterprise Value to FCFF Ratio, Current

DexCom Inc., current EV/FCFF calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in thousands)
Enterprise value (EV) 30,908,961
Free cash flow to the firm (FCFF) 315,352
Valuation Ratio
EV/FCFF 98.01
Benchmarks
EV/FCFF, Competitors1
Abbott Laboratories 37.93
Cigna Group 10.36
CVS Health Corp. 11.74
Danaher Corp. 37.05
Elevance Health Inc. 13.87
Humana Inc. 9.54
Intuitive Surgical Inc. 180.17
Medtronic PLC 25.48
UnitedHealth Group Inc. 17.30
EV/FCFF, Sector
Health Care Equipment & Services 18.56
EV/FCFF, Industry
Health Care 19.85

Based on: 10-K (reporting date: 2022-12-31).

1 Click competitor name to see calculations.

If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.


Enterprise Value to FCFF Ratio, Historical

DexCom Inc., historical EV/FCFF calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Enterprise value (EV)1 41,016,904 38,537,513 38,474,254 22,641,443 12,793,858
Free cash flow to the firm (FCFF)2 315,352 63,619 284,974 144,590 58,944
Valuation Ratio
EV/FCFF3 130.07 605.75 135.01 156.59 217.05
Benchmarks
EV/FCFF, Competitors4
Abbott Laboratories 23.24 23.47 36.94 33.05
Cigna Group 13.38 14.17 9.16 10.24
CVS Health Corp. 10.00 10.30 9.42 12.30
Danaher Corp. 25.74 28.25 30.66 37.11
Elevance Health Inc. 13.32 12.74 6.04 12.73
Humana Inc. 14.88 42.03 7.92 8.46
Intuitive Surgical Inc. 85.45 56.01 76.70 54.58
Medtronic PLC 20.32 33.84 21.43 22.07 27.88
UnitedHealth Group Inc. 19.30 22.21 15.82 17.51
EV/FCFF, Sector
Health Care Equipment & Services 18.05 20.42 15.95 17.63
EV/FCFF, Industry
Health Care 17.71 17.21 17.77 18.34

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 See details »

2 See details »

3 2022 Calculation
EV/FCFF = EV ÷ FCFF
= 41,016,904 ÷ 315,352 = 130.07

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/FCFF Enterprise value to free cash flow to the firm is whole company valuation indicator. DexCom Inc. EV/FCFF ratio increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.