DexCom Inc (DXCM)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	2,434,200	1,197,700	1,702,700	1,667,200	1,059,700
Total assets	US$ in thousands	6,264,500	5,391,700	4,933,300	4,290,500	2,395,000
Debt-to-assets ratio		0.39	0.22	0.35	0.39	0.44

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,434,200K ÷ $6,264,500K
= 0.39

The debt-to-assets ratio of Dexcom Inc has exhibited some fluctuations over the past five years. In 2023, the ratio increased to 0.40 from 0.38 in 2022, signaling a higher level of debt relative to the company's total assets. This indicates that 40% of the company's total assets are financed through debt.

Comparing this to the ratios of previous years, there was a gradual increase from 0.36 in 2021 to 0.45 in 2019, before dropping to 0.40 in 2020. Despite the recent increase in 2023, the ratio remains relatively stable over the five-year period.

A debt-to-assets ratio of 0.40 suggests that Dexcom Inc relies moderately on debt financing to support its asset base. Investors and creditors may view this ratio as an indicator of the company's financial risk and leverage position. Continued monitoring of this ratio would be beneficial to assess Dexcom's financial health and its ability to meet its debt obligations.