DEXCOM INC (DXCM)

Surgical & Medical Instruments & Apparatus

Latest Price

$83.45

TTM P/E

35.82

Normalized P/E

59.61

Div Yield

Book Value

7.68

P/B Ratio

10.87

Valuation metrics

EPS: $2.09

Book value / share: $7.14

Formula: √(22.5 × EPS × BVPS)

Graham Number

$18.32

78% downside

Norm. op. income: $391M (median of 7yr)

Tax rate: 16%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$10.95

87% downside

Base FCF: $512M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$101.39

+21% upside

EPS: $2.09

Target P/E: 60×

Formula: EPS × P/E

P/E Fair Value

$125.40

+50% upside

91.4% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	38.96M	$2.45B	10.10%	-884.0K	2026-03-31
VANGUARD CAPITAL MANAGEMENT LLC	25.02M	$1.57B	6.48%	--	2026-03-31
VANGUARD PORTFOLIO MANAGEMENT LLC	19.22M	$1.21B	4.98%	--	2026-03-31
STATE STREET CORP	17.93M	$1.13B	4.65%	-158.7K	2026-03-31
BAILLIE GIFFORD & CO	15.60M	$979.0M	4.04%	+46.9K	2026-03-31
ALLIANCEBERNSTEIN L.P.	12.92M	$857.0M	3.35%	+4.30M	2026-03-31
GEODE CAPITAL MANAGEMENT, LLC	12.35M	$772.0M	3.20%	+1.34M	2026-03-31
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC	9.75M	$612.0M	2.53%	+1.75M	2026-03-31
WELLINGTON MANAGEMENT GROUP LLP	9.33M	$585.0M	2.42%	+6.25M	2026-03-31
Amundi	6.33M	$397.0M	1.64%	+1.41M	2026-03-31