Dexcom
DXCM · Health Care Equipment
$77.94
0.5%Idexx Laboratories
IDXX · Health Care Equipment
$560.38
1.1%The short version
- Dexcom is the larger business, with $4.7B of revenue in fiscal 2025 against $4.3B for Idexx Laboratories.
- Dexcom grew revenue faster (15.6%, against 10.4%).
- Idexx Laboratories kept more of each dollar of sales as operating profit (31.6% operating margin, against 19.6% operating margin).
- Idexx Laboratories turned more of its sales into free cash flow (24.6% FCF margin, against 23.1% FCF margin).
- Idexx Laboratories earned a higher return on the capital invested in it (57.3%, against 44.9%).
- Investors pay more for each dollar of Idexx Laboratories’s earnings: a P/E of 39.4x against 30.9x for Dexcom.
| Latest fiscal year | DXCM · FY25 | IDXX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $30.4B | $44.4B |
| Revenue | $4.7B | $4.3B |
| Free cash flow | $1.1B | $1.1B |
| Net income | $836M | $1.1B |
| Growth | ||
| Revenue growth | 15.6% | 10.4% |
| 5-year growth | 19.3% | 9.7% |
| Share count change | −1.7% | −2.7% |
| Profitability | ||
| Gross margin | 60.1% | 61.8% |
| Operating margin | 19.6% | 31.6% |
| Net margin | 17.9% | 24.6% |
| FCF margin | 23.1% | 24.6% |
| Return on capital | 44.9% | 57.3% |
| Return on equity | 34.5% | 66.2% |
| Balance sheet | ||
| Net debt | −$696M | $270M |
| Net debt / EBITDA | −0.6x | 0.2x |
| Dividends and buybacks | $500M | $1.2B |
| Valuation & quality | ||
| P/E | 30.9x | 39.4x |
| Piotroski F-score | 8 | 8 |
FY16
DXCM $573M
IDXX $1.8B
FY17
DXCM $719M
IDXX $2.0B
FY18
DXCM $1.0B
IDXX $2.2B
FY19
DXCM $1.5B
IDXX $2.4B
FY20
DXCM $1.9B
IDXX $2.7B
FY21
DXCM $2.4B
IDXX $3.2B
FY22
DXCM $2.9B
IDXX $3.4B
FY23
DXCM $3.6B
IDXX $3.7B
FY24
DXCM $4.0B
IDXX $3.9B
FY25
DXCM $4.7B
IDXX $4.3B
DXCM
IDXX
FY16
DXCM −11.2%
IDXX 19.7%
FY17
DXCM −5.9%
IDXX 21.0%
FY18
DXCM −18.1%
IDXX 22.2%
FY19
DXCM 9.6%
IDXX 23.0%
FY20
DXCM 15.5%
IDXX 25.7%
FY21
DXCM 10.9%
IDXX 29.0%
FY22
DXCM 13.4%
IDXX 26.7%
FY23
DXCM 16.5%
IDXX 30.0%
FY24
DXCM 14.9%
IDXX 29.0%
FY25
DXCM 19.6%
IDXX 31.6%
DXCM
IDXX
FY16
DXCM $0.5M
IDXX $274M
FY17
DXCM $26.0M
IDXX $299M
FY18
DXCM $56.1M
IDXX $284M
FY19
DXCM $135M
IDXX $304M
FY20
DXCM $277M
IDXX $541M
FY21
DXCM $53.3M
IDXX $636M
FY22
DXCM $305M
IDXX $394M
FY23
DXCM $512M
IDXX $773M
FY24
DXCM $631M
IDXX $808M
FY25
DXCM $1.1B
IDXX $1.1B
DXCM
IDXX
FY16
DXCM —
IDXX —
FY17
DXCM −18.7%
IDXX —
FY18
DXCM −45.8%
IDXX 147.3%
FY19
DXCM —
IDXX 72.1%
FY20
DXCM —
IDXX 62.8%
FY21
DXCM 9.4%
IDXX 60.2%
FY22
DXCM 26.2%
IDXX 53.3%
FY23
DXCM 32.8%
IDXX 58.4%
FY24
DXCM 33.5%
IDXX 49.4%
FY25
DXCM 44.9%
IDXX 57.3%
DXCM
IDXX
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.