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.

Analysis of Short-term (Operating) Activity Ratios 

Microsoft Excel

Short-term Activity Ratios (Summary)

DexCom Inc., short-term (operating) activity ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Turnover Ratios
Inventory turnover 3.35 2.15 2.76 4.55 5.20
Receivables turnover 4.08 4.76 4.50 5.16 4.55
Payables turnover 4.32 3.92 3.96 5.32 4.87
Working capital turnover 1.59 0.83 0.69 0.92 0.70
Average No. Days
Average inventory processing period 109 170 132 80 70
Add: Average receivable collection period 89 77 81 71 80
Operating cycle 198 247 213 151 150
Less: Average payables payment period 85 93 92 69 75
Cash conversion cycle 113 154 121 82 75

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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. DexCom Inc. inventory turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.
Receivables turnover An activity ratio equal to revenue divided by receivables. DexCom Inc. receivables turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. DexCom Inc. payables turnover ratio decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Working capital turnover An activity ratio calculated as revenue divided by working capital. DexCom Inc. working capital turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. DexCom Inc. number of days of inventory outstanding deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. DexCom Inc. number of days of receivables outstanding improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Operating cycle Equal to average inventory processing period plus average receivables collection period. DexCom Inc. operating cycle deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. DexCom Inc. number of days of payables outstanding increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. DexCom Inc. cash conversion cycle deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Inventory Turnover

DexCom Inc., inventory turnover 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)
Cost of sales 1,026,700 768,000 646,600 544,500 367,700
Inventory 306,700 357,300 234,700 119,800 70,700
Short-term Activity Ratio
Inventory turnover1 3.35 2.15 2.76 4.55 5.20
Benchmarks
Inventory Turnover, Competitors2
Abbott Laboratories 3.10 3.59 2.99 3.07
Cigna Group 26.13 31.58 32.70 36.70
CVS Health Corp. 14.05 13.52 11.88 12.06
Intuitive Surgical Inc. 2.27 2.98 2.49 2.30
Medtronic PLC 2.20 2.43 2.23 2.44
Inventory Turnover, Sector
Health Care Equipment & Services 23.27 23.69 20.89 21.66
Inventory Turnover, Industry
Health Care 10.93 10.91 9.96 10.08

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
Inventory turnover = Cost of sales ÷ Inventory
= 1,026,700 ÷ 306,700 = 3.35

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. DexCom Inc. inventory turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Receivables Turnover

DexCom Inc., receivables turnover 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)
Revenue 2,909,800 2,448,500 1,926,700 1,476,000 1,031,600
Accounts receivable, net 713,300 514,300 428,500 286,300 226,700
Short-term Activity Ratio
Receivables turnover1 4.08 4.76 4.50 5.16 4.55
Benchmarks
Receivables Turnover, Competitors2
Abbott Laboratories 7.02 6.64 5.40 5.88
Cigna Group 18.64 19.35 19.47 20.05
CVS Health Corp. 11.79 11.91 12.32 13.04
Elevance Health Inc. 18.81 20.66 19.72 18.20
Humana Inc. 55.25 45.69 66.78 60.97
Intuitive Surgical Inc. 6.60 7.30 6.75 6.94
Medtronic PLC 5.71 5.51 6.22 4.91
UnitedHealth Group Inc. 18.22 20.07 19.86 20.32
Receivables Turnover, Sector
Health Care Equipment & Services 14.72 14.99 15.09 14.97
Receivables Turnover, Industry
Health Care 9.77 9.45 9.50 9.90

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
Receivables turnover = Revenue ÷ Accounts receivable, net
= 2,909,800 ÷ 713,300 = 4.08

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. DexCom Inc. receivables turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Payables Turnover

DexCom Inc., payables turnover 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)
Cost of sales 1,026,700 768,000 646,600 544,500 367,700
Accounts payable trade 237,900 196,000 163,300 102,300 75,500
Short-term Activity Ratio
Payables turnover1 4.32 3.92 3.96 5.32 4.87
Benchmarks
Payables Turnover, Competitors2
Abbott Laboratories 4.15 4.21 3.80 4.07
Cigna Group 7.31 7.68 7.75 9.34
CVS Health Corp. 18.07 19.14 19.72 20.13
Elevance Health Inc. 7.47 7.59 7.75 9.25
Humana Inc. 8.17 8.35 7.57 8.97
Intuitive Surgical Inc. 13.78 14.45 18.35 11.08
Medtronic PLC 4.46 4.98 4.72 4.69
UnitedHealth Group Inc. 7.26 7.63 7.29 7.21
Payables Turnover, Sector
Health Care Equipment & Services 8.91 9.25 9.16 9.95
Payables Turnover, Industry
Health Care 7.55 7.68 7.52 8.05

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
Payables turnover = Cost of sales ÷ Accounts payable trade
= 1,026,700 ÷ 237,900 = 4.32

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. DexCom Inc. payables turnover ratio decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Working Capital Turnover

DexCom Inc., working capital turnover 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)
Current assets 3,668,800 3,684,400 3,424,800 1,969,400 1,699,500
Less: Current liabilities 1,839,300 720,800 614,100 360,200 222,400
Working capital 1,829,500 2,963,600 2,810,700 1,609,200 1,477,100
 
Revenue 2,909,800 2,448,500 1,926,700 1,476,000 1,031,600
Short-term Activity Ratio
Working capital turnover1 1.59 0.83 0.69 0.92 0.70
Benchmarks
Working Capital Turnover, Competitors2
Abbott Laboratories 4.48 3.87 4.06 6.64
Cigna Group
CVS Health Corp.
Elevance Health Inc. 8.37 7.23 6.39 6.11
Humana Inc. 10.27 8.67 7.42 7.19
Intuitive Surgical Inc. 1.29 1.22 0.77 1.23
Medtronic PLC 2.97 2.15 2.48 2.26
UnitedHealth Group Inc.
Working Capital Turnover, Sector
Health Care Equipment & Services 72.82 40.87 44.34 59.48
Working Capital Turnover, Industry
Health Care 18.71 13.72 14.03 9.09

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
Working capital turnover = Revenue ÷ Working capital
= 2,909,800 ÷ 1,829,500 = 1.59

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. DexCom Inc. working capital turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Average Inventory Processing Period

DexCom Inc., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data
Inventory turnover 3.35 2.15 2.76 4.55 5.20
Short-term Activity Ratio (no. days)
Average inventory processing period1 109 170 132 80 70
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Abbott Laboratories 118 102 122 119
Cigna Group 14 12 11 10
CVS Health Corp. 26 27 31 30
Intuitive Surgical Inc. 161 122 147 159
Medtronic PLC 166 150 164 150
Average Inventory Processing Period, Sector
Health Care Equipment & Services 16 15 17 17
Average Inventory Processing Period, Industry
Health Care 33 33 37 36

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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 3.35 = 109

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. DexCom Inc. number of days of inventory outstanding deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Average Receivable Collection Period

DexCom Inc., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data
Receivables turnover 4.08 4.76 4.50 5.16 4.55
Short-term Activity Ratio (no. days)
Average receivable collection period1 89 77 81 71 80
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Abbott Laboratories 52 55 68 62
Cigna Group 20 19 19 18
CVS Health Corp. 31 31 30 28
Elevance Health Inc. 19 18 19 20
Humana Inc. 7 8 5 6
Intuitive Surgical Inc. 55 50 54 53
Medtronic PLC 64 66 59 74
UnitedHealth Group Inc. 20 18 18 18
Average Receivable Collection Period, Sector
Health Care Equipment & Services 25 24 24 24
Average Receivable Collection Period, Industry
Health Care 37 39 38 37

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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 4.08 = 89

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. DexCom Inc. number of days of receivables outstanding improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Operating Cycle

DexCom Inc., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data
Average inventory processing period 109 170 132 80 70
Average receivable collection period 89 77 81 71 80
Short-term Activity Ratio
Operating cycle1 198 247 213 151 150
Benchmarks
Operating Cycle, Competitors2
Abbott Laboratories 170 157 190 181
Cigna Group 34 31 30 28
CVS Health Corp. 57 58 61 58
Intuitive Surgical Inc. 216 172 201 212
Medtronic PLC 230 216 223 224
Operating Cycle, Sector
Health Care Equipment & Services 41 39 41 41
Operating Cycle, Industry
Health Care 70 72 75 73

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
Operating cycle = Average inventory processing period + Average receivable collection period
= 109 + 89 = 198

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. DexCom Inc. operating cycle deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Average Payables Payment Period

DexCom Inc., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data
Payables turnover 4.32 3.92 3.96 5.32 4.87
Short-term Activity Ratio (no. days)
Average payables payment period1 85 93 92 69 75
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Abbott Laboratories 88 87 96 90
Cigna Group 50 48 47 39
CVS Health Corp. 20 19 19 18
Elevance Health Inc. 49 48 47 39
Humana Inc. 45 44 48 41
Intuitive Surgical Inc. 26 25 20 33
Medtronic PLC 82 73 77 78
UnitedHealth Group Inc. 50 48 50 51
Average Payables Payment Period, Sector
Health Care Equipment & Services 41 39 40 37
Average Payables Payment Period, Industry
Health Care 48 48 49 45

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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 4.32 = 85

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. DexCom Inc. number of days of payables outstanding increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.

Cash Conversion Cycle

DexCom Inc., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data
Average inventory processing period 109 170 132 80 70
Average receivable collection period 89 77 81 71 80
Average payables payment period 85 93 92 69 75
Short-term Activity Ratio
Cash conversion cycle1 113 154 121 82 75
Benchmarks
Cash Conversion Cycle, Competitors2
Abbott Laboratories 82 70 94 91
Cigna Group -16 -17 -17 -11
CVS Health Corp. 37 39 42 40
Intuitive Surgical Inc. 190 147 181 179
Medtronic PLC 148 143 146 146
Cash Conversion Cycle, Sector
Health Care Equipment & Services 0 0 1 4
Cash Conversion Cycle, Industry
Health Care 22 24 26 28

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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 109 + 8985 = 113

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. DexCom Inc. cash conversion cycle deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.