DexCom Inc (DXCM)

Debt-to-capital ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	2,102,600	2,068,600	2,131,800	2,251,500	1,826,500
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $2,102,600K)
= 0.00

DexCom Inc has consistently maintained a debt-to-capital ratio of 0.00 from December 31, 2020, to December 31, 2024. This indicates that the company has not used debt significantly to finance its operations and growth, relying predominantly on equity capital. A debt-to-capital ratio of 0.00 typically suggests a low financial risk, as there is no debt contributing to the company's capital structure. DexCom's conservative approach to debt management may reflect a strategy focused on financial stability and minimizing interest expenses. However, it is important to consider that a very low debt-to-capital ratio could also imply missed opportunities for leveraging debt to enhance returns on equity. Monitoring changes in this ratio over time can provide insights into DexCom's capital structure decisions and overall financial health.