Explain this page
Arphra AIPlain-English read on DexCom, Inc.’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $2.45B | $2.91B | $3.62B | $4.03B | $4.66B | $5.23B | $5.82B | $6.5B | $7.34B |
| Cost of revenue | $768M | $1.03B | $1.33B | $1.59B | $1.86B | $2.06B | $2.31B | $2.56B | $2.77B |
| Gross profit | $1.68B | $1.88B | $2.29B | $2.44B | $2.8B | $3.28B | $3.51B | $4.09B | $4.49B |
| Gross margin | +68.63% | +64.72% | +63.19% | +60.46% | +60.01% | +62.85% | +60.19% | +62.86% | +61.12% |
| Operating | |||||||||
| Research & development | $604.2M | $484.2M | $505.8M | $552.4M | $594.9M | $706.41M | $785.39M | $902.53M | $984.15M |
| Selling, general & administrative | $810.5M | $1.01B | $1.19B | $1.29B | $1.29B | $1.63B | $1.77B | $1.98B | $2.28B |
| Total operating expenses | $1.41B | $1.49B | $1.69B | $1.84B | $1.89B | $2.34B | $2.53B | $2.91B | $3.34B |
| Operating income | $265.8M | $391.2M | $597.7M | $600M | $911.8M | $902.14M | $1.01B | $1.11B | $1.24B |
| Operating margin | +10.86% | +13.44% | +16.50% | +14.88% | +19.56% | +17.26% | +17.27% | +17.00% | +16.83% |
| EBITDA | $377.5M | $565.3M | $916.7M | $945.7M | $1.16B | $1.25B | $1.44B | $1.56B | $1.8B |
| EBIT | $275.6M | $409.4M | $730.7M | $728M | $911.8M | $1.02B | $1.13B | $1.24B | $1.38B |
| Below the line | |||||||||
| Interest expense | $18.8M | $18.6M | $20.3M | $19M | $18.3M | $24.07M | $28.39M | $31.44M | $34.1M |
| Interest income | $1.7M | $23.8M | $135M | $134.2M | $112.7M | $163.8M | $187.99M | $201.63M | $228.9M |
| Other income / expense | -$9M | -$400K | $112.7M | $109M | $176.6M | — | — | — | — |
| Pre-tax income | $256.8M | $390.8M | $710.4M | $709M | $1.09B | $1.04B | $1.15B | $1.34B | $1.5B |
| Income tax expense | $39.9M | $49.6M | $168.9M | $132.8M | $252.1M | $228.97M | $262.32M | $294.04M | $323.68M |
| Earnings | |||||||||
| Net income | $216.9M | $341.2M | $541.5M | $576.2M | $836.3M | $844.94M | $930M | $1.02B | $1.16B |
| Net income · continuing ops | $216.9M | $341.2M | $541.5M | $576.2M | $836.3M | $829.93M | $908.27M | $1.01B | $1.14B |
| Net margin | +8.86% | +11.73% | +14.95% | +14.29% | +17.94% | +16.17% | +15.97% | +15.64% | +15.78% |
| EPS · basic | $0.56 | $0.88 | $1.44 | $1.46 | $2.14 | $2.75 | $3.27 | $3.81 | $4.63 |
| EPS · diluted | $0.51 | $0.80 | $1.30 | $1.42 | $2.09 | $2.59 | $3.08 | $3.66 | $4.35 |
| EPS · low estimate | — | — | — | — | — | $2.47 | $2.84 | $3.01 | $4.28 |
| EPS · high estimate | — | — | — | — | — | $2.66 | $3.33 | $4.04 | $4.43 |
| Shares · basic | 386.9M | 389.4M | 386M | 404.63M | 390.2M | 388.68M | 387.48M | 390.82M | 387.05M |
| Shares · diluted | 428.8M | 427.5M | 425.5M | 412.7M | 405.5M | 409.32M | 406.28M | 402.54M | 404.94M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 20 | 20 | 20 | 11 |
| Analysts (EPS) | — | — | — | — | — | 14 | 14 | 5 | 1 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
Full income statement, balance sheet, and cash-flow history is included with Pro.
Upgrade to Pro