Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
DexCom Inc., solvency ratios
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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | DexCom Inc. debt to equity ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | DexCom Inc. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | DexCom Inc. debt to capital ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | DexCom Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | DexCom Inc. debt to assets ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | DexCom Inc. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | DexCom Inc. financial leverage ratio decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | DexCom Inc. interest coverage ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | DexCom Inc. fixed charge coverage ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Debt to Equity
DexCom Inc., debt to equity 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) | ||||||
| Short-term finance lease liabilities | 4,200) | 3,300) | 8,800) | 600) | —) | |
| Current portion of long-term senior convertible notes | 772,600) | —) | —) | —) | —) | |
| Long-term senior convertible notes | 1,197,700) | 1,702,700) | 1,667,200) | 1,059,700) | 1,010,300) | |
| Long-term finance lease liabilities | 59,600) | 57,000) | 54,000) | 14,400) | 7,300) | |
| Total debt | 2,034,100) | 1,763,000) | 1,730,000) | 1,074,700) | 1,017,600) | |
| Stockholders’ equity | 2,131,800) | 2,251,500) | 1,826,500) | 882,600) | 663,300) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 0.95 | 0.78 | 0.95 | 1.22 | 1.53 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Abbott Laboratories | 0.46 | 0.50 | 0.57 | 0.58 | — | |
| Cigna Group | 0.69 | 0.71 | 0.65 | 0.83 | — | |
| CVS Health Corp. | 0.74 | 0.75 | 0.93 | 1.07 | — | |
| Elevance Health Inc. | 0.66 | 0.64 | 0.60 | 0.63 | — | |
| Humana Inc. | 0.75 | 0.80 | 0.51 | 0.49 | — | |
| Intuitive Surgical Inc. | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Medtronic PLC | 0.46 | 0.51 | 0.49 | 0.51 | 0.51 | |
| UnitedHealth Group Inc. | 0.74 | 0.64 | 0.66 | 0.71 | — | |
| Debt to Equity, Sector | ||||||
| Health Care Equipment & Services | 0.63 | 0.63 | 0.65 | 0.72 | — | |
| Debt to Equity, Industry | ||||||
| Health Care | 0.74 | 0.80 | 0.91 | 0.92 | — | |
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
Debt to equity = Total debt ÷ Stockholders’ equity
= 2,034,100 ÷ 2,131,800 = 0.95
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | DexCom Inc. debt to equity ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Debt to Equity (including Operating Lease Liability)
DexCom Inc., debt to equity (including operating lease liability) 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) | ||||||
| Short-term finance lease liabilities | 4,200) | 3,300) | 8,800) | 600) | —) | |
| Current portion of long-term senior convertible notes | 772,600) | —) | —) | —) | —) | |
| Long-term senior convertible notes | 1,197,700) | 1,702,700) | 1,667,200) | 1,059,700) | 1,010,300) | |
| Long-term finance lease liabilities | 59,600) | 57,000) | 54,000) | 14,400) | 7,300) | |
| Total debt | 2,034,100) | 1,763,000) | 1,730,000) | 1,074,700) | 1,017,600) | |
| Short-term operating lease liabilities | 20,500) | 20,500) | 16,500) | 13,600) | —) | |
| Long-term operating lease liabilities | 94,600) | 98,600) | 101,800) | 72,400) | —) | |
| Total debt (including operating lease liability) | 2,149,200) | 1,882,100) | 1,848,300) | 1,160,700) | 1,017,600) | |
| Stockholders’ equity | 2,131,800) | 2,251,500) | 1,826,500) | 882,600) | 663,300) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 1.01 | 0.84 | 1.01 | 1.32 | 1.53 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Abbott Laboratories | 0.49 | 0.54 | 0.61 | 0.61 | — | |
| Cigna Group | 0.70 | 0.73 | 0.67 | 0.84 | — | |
| CVS Health Corp. | 1.00 | 1.01 | 1.23 | 1.39 | — | |
| Elevance Health Inc. | 0.69 | 0.67 | 0.63 | 0.65 | — | |
| Humana Inc. | 0.79 | 0.84 | 0.54 | 0.53 | — | |
| Intuitive Surgical Inc. | 0.01 | 0.01 | 0.01 | 0.01 | — | |
| Medtronic PLC | 0.48 | 0.53 | 0.51 | 0.51 | 0.51 | |
| UnitedHealth Group Inc. | 0.80 | 0.70 | 0.73 | 0.77 | — | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Health Care Equipment & Services | 0.71 | 0.71 | 0.74 | 0.81 | — | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.80 | 0.86 | 0.97 | 0.98 | — | |
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
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 2,149,200 ÷ 2,131,800 = 1.01
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | DexCom Inc. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Debt to Capital
DexCom Inc., debt to capital 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) | ||||||
| Short-term finance lease liabilities | 4,200) | 3,300) | 8,800) | 600) | —) | |
| Current portion of long-term senior convertible notes | 772,600) | —) | —) | —) | —) | |
| Long-term senior convertible notes | 1,197,700) | 1,702,700) | 1,667,200) | 1,059,700) | 1,010,300) | |
| Long-term finance lease liabilities | 59,600) | 57,000) | 54,000) | 14,400) | 7,300) | |
| Total debt | 2,034,100) | 1,763,000) | 1,730,000) | 1,074,700) | 1,017,600) | |
| Stockholders’ equity | 2,131,800) | 2,251,500) | 1,826,500) | 882,600) | 663,300) | |
| Total capital | 4,165,900) | 4,014,500) | 3,556,500) | 1,957,300) | 1,680,900) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.49 | 0.44 | 0.49 | 0.55 | 0.61 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Abbott Laboratories | 0.31 | 0.34 | 0.36 | 0.37 | — | |
| Cigna Group | 0.41 | 0.42 | 0.40 | 0.45 | — | |
| CVS Health Corp. | 0.42 | 0.43 | 0.48 | 0.52 | — | |
| Elevance Health Inc. | 0.40 | 0.39 | 0.38 | 0.39 | — | |
| Humana Inc. | 0.43 | 0.44 | 0.34 | 0.33 | — | |
| Intuitive Surgical Inc. | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Medtronic PLC | 0.31 | 0.34 | 0.33 | 0.34 | 0.34 | |
| UnitedHealth Group Inc. | 0.43 | 0.39 | 0.40 | 0.41 | — | |
| Debt to Capital, Sector | ||||||
| Health Care Equipment & Services | 0.39 | 0.39 | 0.39 | 0.42 | — | |
| Debt to Capital, Industry | ||||||
| Health Care | 0.43 | 0.44 | 0.48 | 0.48 | — | |
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
Debt to capital = Total debt ÷ Total capital
= 2,034,100 ÷ 4,165,900 = 0.49
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | DexCom Inc. debt to capital ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Debt to Capital (including Operating Lease Liability)
DexCom Inc., debt to capital (including operating lease liability) 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) | ||||||
| Short-term finance lease liabilities | 4,200) | 3,300) | 8,800) | 600) | —) | |
| Current portion of long-term senior convertible notes | 772,600) | —) | —) | —) | —) | |
| Long-term senior convertible notes | 1,197,700) | 1,702,700) | 1,667,200) | 1,059,700) | 1,010,300) | |
| Long-term finance lease liabilities | 59,600) | 57,000) | 54,000) | 14,400) | 7,300) | |
| Total debt | 2,034,100) | 1,763,000) | 1,730,000) | 1,074,700) | 1,017,600) | |
| Short-term operating lease liabilities | 20,500) | 20,500) | 16,500) | 13,600) | —) | |
| Long-term operating lease liabilities | 94,600) | 98,600) | 101,800) | 72,400) | —) | |
| Total debt (including operating lease liability) | 2,149,200) | 1,882,100) | 1,848,300) | 1,160,700) | 1,017,600) | |
| Stockholders’ equity | 2,131,800) | 2,251,500) | 1,826,500) | 882,600) | 663,300) | |
| Total capital (including operating lease liability) | 4,281,000) | 4,133,600) | 3,674,800) | 2,043,300) | 1,680,900) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.50 | 0.46 | 0.50 | 0.57 | 0.61 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Abbott Laboratories | 0.33 | 0.35 | 0.38 | 0.38 | — | |
| Cigna Group | 0.41 | 0.42 | 0.40 | 0.46 | — | |
| CVS Health Corp. | 0.50 | 0.50 | 0.55 | 0.58 | — | |
| Elevance Health Inc. | 0.41 | 0.40 | 0.39 | 0.40 | — | |
| Humana Inc. | 0.44 | 0.46 | 0.35 | 0.34 | — | |
| Intuitive Surgical Inc. | 0.01 | 0.01 | 0.01 | 0.01 | — | |
| Medtronic PLC | 0.32 | 0.35 | 0.34 | 0.34 | 0.34 | |
| UnitedHealth Group Inc. | 0.45 | 0.41 | 0.42 | 0.44 | — | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Health Care Equipment & Services | 0.41 | 0.41 | 0.43 | 0.45 | — | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.44 | 0.46 | 0.49 | 0.49 | — | |
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
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 2,149,200 ÷ 4,281,000 = 0.50
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | DexCom Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Debt to Assets
DexCom Inc., debt to assets 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) | ||||||
| Short-term finance lease liabilities | 4,200) | 3,300) | 8,800) | 600) | —) | |
| Current portion of long-term senior convertible notes | 772,600) | —) | —) | —) | —) | |
| Long-term senior convertible notes | 1,197,700) | 1,702,700) | 1,667,200) | 1,059,700) | 1,010,300) | |
| Long-term finance lease liabilities | 59,600) | 57,000) | 54,000) | 14,400) | 7,300) | |
| Total debt | 2,034,100) | 1,763,000) | 1,730,000) | 1,074,700) | 1,017,600) | |
| Total assets | 5,391,700) | 4,863,600) | 4,290,500) | 2,395,000) | 1,916,000) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.38 | 0.36 | 0.40 | 0.45 | 0.53 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Abbott Laboratories | 0.23 | 0.24 | 0.26 | 0.27 | — | |
| Cigna Group | 0.22 | 0.22 | 0.21 | 0.24 | — | |
| CVS Health Corp. | 0.23 | 0.24 | 0.28 | 0.31 | — | |
| Elevance Health Inc. | 0.23 | 0.24 | 0.23 | 0.26 | — | |
| Humana Inc. | 0.27 | 0.29 | 0.20 | 0.20 | — | |
| Intuitive Surgical Inc. | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Medtronic PLC | 0.27 | 0.28 | 0.27 | 0.28 | 0.28 | |
| UnitedHealth Group Inc. | 0.23 | 0.22 | 0.22 | 0.23 | — | |
| Debt to Assets, Sector | ||||||
| Health Care Equipment & Services | 0.23 | 0.23 | 0.24 | 0.26 | — | |
| Debt to Assets, Industry | ||||||
| Health Care | 0.28 | 0.29 | 0.31 | 0.31 | — | |
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
Debt to assets = Total debt ÷ Total assets
= 2,034,100 ÷ 5,391,700 = 0.38
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | DexCom Inc. debt to assets ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Debt to Assets (including Operating Lease Liability)
DexCom Inc., debt to assets (including operating lease liability) 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) | ||||||
| Short-term finance lease liabilities | 4,200) | 3,300) | 8,800) | 600) | —) | |
| Current portion of long-term senior convertible notes | 772,600) | —) | —) | —) | —) | |
| Long-term senior convertible notes | 1,197,700) | 1,702,700) | 1,667,200) | 1,059,700) | 1,010,300) | |
| Long-term finance lease liabilities | 59,600) | 57,000) | 54,000) | 14,400) | 7,300) | |
| Total debt | 2,034,100) | 1,763,000) | 1,730,000) | 1,074,700) | 1,017,600) | |
| Short-term operating lease liabilities | 20,500) | 20,500) | 16,500) | 13,600) | —) | |
| Long-term operating lease liabilities | 94,600) | 98,600) | 101,800) | 72,400) | —) | |
| Total debt (including operating lease liability) | 2,149,200) | 1,882,100) | 1,848,300) | 1,160,700) | 1,017,600) | |
| Total assets | 5,391,700) | 4,863,600) | 4,290,500) | 2,395,000) | 1,916,000) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.40 | 0.39 | 0.43 | 0.48 | 0.53 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Abbott Laboratories | 0.24 | 0.26 | 0.27 | 0.28 | — | |
| Cigna Group | 0.22 | 0.22 | 0.22 | 0.24 | — | |
| CVS Health Corp. | 0.31 | 0.33 | 0.37 | 0.40 | — | |
| Elevance Health Inc. | 0.24 | 0.25 | 0.24 | 0.27 | — | |
| Humana Inc. | 0.28 | 0.31 | 0.21 | 0.22 | — | |
| Intuitive Surgical Inc. | 0.01 | 0.01 | 0.01 | 0.01 | — | |
| Medtronic PLC | 0.27 | 0.29 | 0.28 | 0.28 | 0.28 | |
| UnitedHealth Group Inc. | 0.25 | 0.24 | 0.24 | 0.26 | — | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Health Care Equipment & Services | 0.26 | 0.27 | 0.27 | 0.29 | — | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Health Care | 0.29 | 0.31 | 0.33 | 0.33 | — | |
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
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 2,149,200 ÷ 5,391,700 = 0.40
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | DexCom Inc. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Financial Leverage
DexCom Inc., financial leverage 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) | ||||||
| Total assets | 5,391,700) | 4,863,600) | 4,290,500) | 2,395,000) | 1,916,000) | |
| Stockholders’ equity | 2,131,800) | 2,251,500) | 1,826,500) | 882,600) | 663,300) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 2.53 | 2.16 | 2.35 | 2.71 | 2.89 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Abbott Laboratories | 2.03 | 2.10 | 2.21 | 2.18 | — | |
| Cigna Group | 3.21 | 3.29 | 3.09 | 3.44 | — | |
| CVS Health Corp. | 3.21 | 3.10 | 3.32 | 3.48 | — | |
| Elevance Health Inc. | 2.83 | 2.70 | 2.61 | 2.44 | — | |
| Humana Inc. | 2.81 | 2.76 | 2.55 | 2.42 | — | |
| Intuitive Surgical Inc. | 1.17 | 1.14 | 1.15 | 1.18 | — | |
| Medtronic PLC | 1.73 | 1.81 | 1.79 | 1.79 | 1.80 | |
| UnitedHealth Group Inc. | 3.16 | 2.96 | 3.01 | 3.02 | — | |
| Financial Leverage, Sector | ||||||
| Health Care Equipment & Services | 2.73 | 2.68 | 2.70 | 2.75 | — | |
| Financial Leverage, Industry | ||||||
| Health Care | 2.70 | 2.79 | 2.96 | 2.93 | — | |
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
Financial leverage = Total assets ÷ Stockholders’ equity
= 5,391,700 ÷ 2,131,800 = 2.53
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | DexCom Inc. financial leverage ratio decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level. |
Interest Coverage
DexCom Inc., interest coverage 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) | ||||||
| Net income (loss) | 341,200) | 154,700) | 493,600) | 101,100) | (127,100) | |
| Add: Income tax expense | 49,600) | 19,200) | (268,600) | 3,100) | 600) | |
| Add: Interest expense | 18,600) | 100,300) | 84,700) | 60,300) | 22,700) | |
| Earnings before interest and tax (EBIT) | 409,400) | 274,200) | 309,700) | 164,500) | (103,800) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 22.01 | 2.73 | 3.66 | 2.73 | -4.57 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Abbott Laboratories | 15.89 | 16.41 | 10.10 | 7.09 | — | |
| Cigna Group | 7.43 | 6.22 | 8.76 | 5.11 | — | |
| CVS Health Corp. | 3.46 | 5.16 | 4.36 | 3.96 | — | |
| Elevance Health Inc. | 10.13 | 10.93 | 8.96 | 9.02 | — | |
| Humana Inc. | 9.89 | 11.49 | 17.52 | 15.34 | — | |
| Intuitive Surgical Inc. | — | — | — | — | — | |
| Medtronic PLC | 10.98 | 5.21 | 4.71 | 4.60 | 5.95 | |
| UnitedHealth Group Inc. | 13.59 | 14.44 | 13.47 | 11.55 | — | |
| Interest Coverage, Sector | ||||||
| Health Care Equipment & Services | 9.34 | 9.06 | 8.21 | 6.70 | — | |
| Interest Coverage, Industry | ||||||
| Health Care | 12.45 | 12.11 | 7.74 | 8.88 | — | |
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
Interest coverage = EBIT ÷ Interest expense
= 409,400 ÷ 18,600 = 22.01
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | DexCom Inc. interest coverage ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Fixed Charge Coverage
DexCom Inc., fixed charge coverage 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) | ||||||
| Net income (loss) | 341,200) | 154,700) | 493,600) | 101,100) | (127,100) | |
| Add: Income tax expense | 49,600) | 19,200) | (268,600) | 3,100) | 600) | |
| Add: Interest expense | 18,600) | 100,300) | 84,700) | 60,300) | 22,700) | |
| Earnings before interest and tax (EBIT) | 409,400) | 274,200) | 309,700) | 164,500) | (103,800) | |
| Add: Operating lease cost | 22,600) | 23,300) | 18,400) | 12,200) | 12,500) | |
| Earnings before fixed charges and tax | 432,000) | 297,500) | 328,100) | 176,700) | (91,300) | |
| Interest expense | 18,600) | 100,300) | 84,700) | 60,300) | 22,700) | |
| Operating lease cost | 22,600) | 23,300) | 18,400) | 12,200) | 12,500) | |
| Fixed charges | 41,200) | 123,600) | 103,100) | 72,500) | 35,200) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 10.49 | 2.41 | 3.18 | 2.44 | -2.59 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Abbott Laboratories | 10.10 | 10.21 | 6.68 | 5.14 | — | |
| Cigna Group | 6.87 | 5.61 | 7.84 | 4.67 | — | |
| CVS Health Corp. | 2.16 | 3.03 | 2.75 | 2.56 | — | |
| Elevance Health Inc. | 8.82 | 8.48 | 6.10 | 7.34 | — | |
| Humana Inc. | 7.10 | 8.05 | 12.02 | 9.76 | — | |
| Intuitive Surgical Inc. | 63.52 | 93.66 | 58.48 | 79.65 | — | |
| Medtronic PLC | 7.79 | 4.31 | 3.98 | 3.97 | 4.87 | |
| UnitedHealth Group Inc. | 8.77 | 8.80 | 8.51 | 7.65 | — | |
| Fixed Charge Coverage, Sector | ||||||
| Health Care Equipment & Services | 6.16 | 5.95 | 5.52 | 4.75 | — | |
| Fixed Charge Coverage, Industry | ||||||
| Health Care | 8.86 | 8.60 | 5.73 | 6.62 | — | |
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
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 432,000 ÷ 41,200 = 10.49
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | DexCom Inc. fixed charge coverage ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |