DexCom Inc (DXCM)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	2,434,200	2,432,400	2,430,600	1,198,500	1,197,700	1,968,800	1,967,300	1,965,900	1,702,700	1,703,500	1,710,700	1,688,800	1,667,200	1,645,800	1,658,800	1,072,400	1,059,700	1,047,100	1,034,700	1,022,400
Total assets	US$ in thousands	6,264,500	6,596,200	6,820,700	5,515,900	5,391,700	4,899,200	5,217,400	5,057,000	4,933,300	4,775,900	4,503,800	4,389,800	4,290,500	3,833,200	3,521,800	2,447,900	2,395,000	2,185,700	2,065,900	1,974,000
Debt-to-assets ratio		0.39	0.37	0.36	0.22	0.22	0.40	0.38	0.39	0.35	0.36	0.38	0.38	0.39	0.43	0.47	0.44	0.44	0.48	0.50	0.52

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 ranged from 0.37 to 0.48 over the past eight quarters, with an average of approximately 0.40. This ratio indicates that, on average, Dexcom finances 40% of its assets through debt, while the remaining 60% is financed through equity.

A debt-to-assets ratio of 0.40 suggests that Dexcom relies moderately on debt to finance its operations and growth. It seems to maintain a stable level of debt relative to its assets, which may indicate a balanced approach to capital structure management.

However, the slight fluctuation in the ratio over the quarters indicates some variability in Dexcom's debt management. The increase to 0.48 in Q2 2023 could imply a temporary spike in debt compared to assets, which may warrant further investigation into the company's debt levels and repayment capabilities during that period.

Overall, Dexcom's debt-to-assets ratio suggests a strategic mix of debt and equity in its capital structure, supporting its business operations and growth initiatives.