DexCom Inc (DXCM)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	2,068,600	2,267,900	2,100,400	2,233,000	2,131,800	1,824,500	2,255,900	2,189,300	2,042,100	1,912,000	1,754,700	1,644,800	1,551,900	1,499,300	1,353,900	934,500	882,600	764,300	688,300	668,600
Debt-to-capital ratio		0.54	0.52	0.54	0.35	0.36	0.52	0.47	0.47	0.45	0.47	0.49	0.51	0.52	0.52	0.55	0.53	0.55	0.58	0.60	0.60

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,434,200K ÷ ($2,434,200K + $2,068,600K)
= 0.54

The debt-to-capital ratio of Dexcom Inc has shown some fluctuation over the past eight quarters. In Q4 2023, the ratio stood at 0.55, slightly higher than in Q3 2023 when it was 0.54. Comparing Q4 2023 to the same quarter in the previous year (Q4 2022), the ratio has increased from 0.49 to 0.55.

Overall, the trend in the debt-to-capital ratio indicates that the company has been gradually increasing its reliance on debt to finance its operations and investments. A rising debt-to-capital ratio can signify increasing financial leverage and potential risk, as higher debt levels may lead to higher interest payments and reduced financial flexibility. Investors and creditors typically monitor this ratio closely to assess the company's ability to meet its debt obligations and manage financial risks effectively.