DexCom Inc., current enterprise value calculation

Current share price (P)	$81.09
No. shares of common stock outstanding	386,373,935
US$ in thousands
Common equity (market value)¹	31,331,062)
Add: Preferred stock, $0.001 par value; no shares issued and outstanding (per books)	—)
Total equity	31,331,062)
Add: Short-term finance lease liabilities (per books)	4,200)
Add: Current portion of long-term senior convertible notes (per books)	772,600)
Add: Long-term senior convertible notes (per books)	1,197,700)
Add: Long-term finance lease liabilities (per books)	59,600)
Total equity and debt	33,365,162)
Less: Cash and cash equivalents	642,300)
Less: Short-term marketable securities	1,813,900)
Enterprise value (EV)	30,908,962)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 81.09 × 386,373,935

DexCom Inc., EV calculation

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Share price^1, 2	$107.24	$101.75	$102.55	$63.05	$36.56
No. shares of common stock outstanding¹	386,413,690	388,262,536	384,709,452	366,376,568	360,007,068
US$ in thousands
Common equity (market value)³	41,439,004)	39,505,713)	39,451,954)	23,100,043)	13,161,858)
Add: Preferred stock, $0.001 par value; no shares issued and outstanding (book value)	—)	—)	—)	—)	—)
Total equity	41,439,004)	39,505,713)	39,451,954)	23,100,043)	13,161,858)
Add: Short-term finance lease liabilities (book value)	4,200)	3,300)	8,800)	600)	—)
Add: Current portion of long-term senior convertible notes (book value)	772,600)	—)	—)	—)	—)
Add: Long-term senior convertible notes (book value)	1,197,700)	1,702,700)	1,667,200)	1,059,700)	1,010,300)
Add: Long-term finance lease liabilities (book value)	59,600)	57,000)	54,000)	14,400)	7,300)
Total equity and debt	43,473,104)	41,268,713)	41,181,954)	24,174,743)	14,179,458)
Less: Cash and cash equivalents	642,300)	1,052,600)	817,600)	446,200)	1,137,000)
Less: Short-term marketable securities	1,813,900)	1,678,600)	1,890,100)	1,087,100)	248,600)
Enterprise value (EV)	41,016,904)	38,537,513)	38,474,254)	22,641,443)	12,793,858)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of DexCom Inc. Annual Report.

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 107.24 × 386,413,690

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	DexCom Inc. EV increased from 2020 to 2021 and from 2021 to 2022.

DexCom Inc. (NASDAQ:DXCM)

Enterprise Value (EV)