Dexcom Inc
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+ FollowMarket Cap$29.62B
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Earnings Call Q3 2026
October 29, 2026 - AI Summary
Strong top-line momentum + share gains (Good)
- Q3’26 revenue: $1.34B, up 11% YoY (reported and organic).
- U.S. revenue: $970M, up 14% YoY, with continued share gains across customer segments.
- Global market characterized as stable (no broad category slowdown per management), while Dexcom says it’s outgrowing by taking share.
- New patient starts: described as near record levels; growth driven by retention/utilization efforts.
Margin expansion and cash generation (Good)
- Gross margin: 65.1% in Q3 vs 61.3% in Q3’25 (+~380 bps YoY), attributed to manufacturing efficiencies, freight, and quality improvements; also aided by G7 15 Day ramp.
- Free cash flow: $900M+ through first 3 quarters, supporting buybacks.
- Cash position: about $1.8B cash/cash equivalents at quarter end.
Capital return accelerates: $1B buyback (Good)
- Dexcom completed a $1B repurchase authorization for 2026 (per Investor Day goal).
- Announced another $1B share repurchase authorization.
- Management reiterates commitment to deploy at least 50% of free cash flow over 2027.
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Share Statistics
| Market cap | $29.62 Billion |
|---|---|
| Enterprise Value | $30.05 Billion |
| Earnings per Share | $2.14 |
| Beta | 1.45 |
| Outstanding Shares | 374,700,000 |
Return
| Return on Equity | 39.09% |
|---|---|
| Return on Assets | 15.88% |
| Return on Invested Capital | 30.87% |
Valuation & Multiples
| P/E Ratio | 30.66 |
|---|---|
| PEG | -1000.16 |
| Price to Sales | 6.41 |
| Price to Book Ratio | 13.89 |
| Enterprise Value to Revenue | 5.89 |
| Enterprise Value to EBIT | 24.42 |
| Enterprise Value to Net Income | 30 |
| Total Debt to Enterprise | 0.05 |
| Debt to Equity | 0.55 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 29, 2026
EPS
$0.73
Est. $0.68Revenue
$1.34 B
Est. $1.33 BNext Earnings Call
Expected Date
February 11, 2027
EPS Estimate
$0.71
Consensus analyst estimateRevenue Estimate
$1.38 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 3.28, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 3.2846▲ 216.82% |
|---|---|
| Total Calls | 65,000▼ 98.52% |
| Total Puts | 213,500▼ 95.64% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 13.89%▼ 87.23% |
|---|---|
| Total Invested | $4.59B▼ 82.48% |
| Investors Holding | 520▼ 506.00% |
About Dexcom Inc
CEO: Kevin Sayer
