Dexcom vs ResMed |
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KIRA’s take AI analyst
I put Dexcom and ResMed | side by side, using each one’s latest annual report. Here is what stands out:
- ResMed | is the larger business, with $5.7B of revenue in fiscal 2026 against $4.7B for Dexcom.
- Dexcom grew revenue faster (15.6%, against 9.9%).
- ResMed | kept more of each dollar of sales as operating profit (33.4% operating margin, against 19.6%).
- ResMed | turned more of its sales into free cash flow (29.2% FCF margin, against 23.1%).
- Dexcom earned a higher return on the capital invested in it (44.9%, against 26.7%).
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Dexcom
DXCM
7/11
Revenue growth5-year growthReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDAShare count change
ResMed |
RMD
4/11
Gross marginOperating marginNet marginFCF margin
Side by side
Best in the row
| Latest fiscal year | DXCM FY25 | RMD FY26 |
|---|---|---|
| Size | ||
| Market cap | $30.7B | $37.0B |
| Revenue | $4.7B | $5.7B |
| Free cash flow | $1.1B | $1.6B |
| Net income | $836M | $1.5B |
| Growth | ||
| Revenue growth | 15.6% | 9.9% |
| 5-year growth | 19.3% | 12.1% |
| Share count change | −1.7% | −0.9% |
| Profitability | ||
| Gross margin | 60.1% | 61.1% |
| Operating margin | 19.6% | 33.4% |
| Net margin | 17.9% | 26.9% |
| FCF margin | 23.1% | 29.2% |
| Return on capital | 44.9% | 26.7% |
| Return on equity | 34.5% | 24.3% |
| Balance sheet | ||
| Net debt | −$696M | −$810M |
| Net debt / EBITDA | −0.6x | −0.4x |
| Dividends and buybacks | $500M | $1.0B |
| Valuation & quality | ||
| P/E | 31.2x | — |
| Piotroski F-score | 8 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.