DexCom Inc (DXCM)

Financial leverage 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
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
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
Financial leverage ratio		3.03	2.91	3.25	2.47	2.53	2.69	2.31	2.31	2.42	2.50	2.57	2.67	2.76	2.56	2.60	2.62	2.71	2.86	3.00	2.95

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $6,264,500K ÷ $2,068,600K
= 3.03

The financial leverage ratio of Dexcom Inc has shown some fluctuations over the past eight quarters. In Q4 2023, the ratio stood at 3.03, indicating that the company's level of debt relative to its equity was relatively high. This was an increase compared to the previous quarter, Q3 2023, when the ratio was 2.91.

The ratio peaked in Q3 2023 at 3.25, signifying a higher reliance on debt to finance its operations and investments during that period. On the other hand, the financial leverage ratio was at its lowest in Q2 2022 at 2.31.

Overall, the company's financial leverage has shown variability, suggesting varying levels of indebtedness over the quarters. It would be important to further investigate the reasons behind these fluctuations and assess the potential impacts on the company's financial stability and risk profile.