DexCom Inc (DXCM)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	2,068,600	2,131,800	2,042,100	1,551,900	882,600
Debt-to-equity ratio		1.18	0.56	0.83	1.07	1.20

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,434,200K ÷ $2,068,600K
= 1.18

The debt-to-equity ratio of Dexcom Inc has fluctuated over the past five years, ranging from a low of 0.78 in 2021 to a high of 1.22 in 2019. In 2023, the ratio increased to 1.21, indicating that the company's level of debt relative to its equity has risen compared to the previous year. This suggests that Dexcom Inc may be relying more on debt financing to support its operations or growth initiatives. It is important for stakeholders to monitor this trend closely as a higher debt-to-equity ratio can imply increased financial risk and potential constraints on the company's financial flexibility in the future.