Dexcom vs Idexx Laboratories
Add, change or remove companies; up to four.
KIRA’s take AI analyst
I put Dexcom and Idexx Laboratories side by side, using each one’s latest annual report. Here is what stands out:
- 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%).
- Idexx Laboratories turned more of its sales into free cash flow (24.6% FCF margin, against 23.1%).
- 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 40.1x against 31.2x for Dexcom.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Dexcom
DXCM
3/11
Revenue growth5-year growthNet debt / EBITDA
Idexx Laboratories
IDXX
7/11
Gross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityShare count change
Side by side
Best in the row
| Latest fiscal year | DXCM FY25 | IDXX FY25 |
|---|---|---|
| Size | ||
| Market cap | $30.7B | $45.2B |
| 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 | 31.2x | 40.1x |
| Piotroski F-score | 8 | 8 |
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.