Dexcom vs Edwards Lifesciences
Edwards Lifesciences reported revenue of $6.1 billion in fiscal 2025, 1.3 times Dexcom's $4.7 billion in fiscal 2025. Dexcom's revenue grew 15.6% in its latest year, and Edwards Lifesciences' grew 11.6%. Dexcom had an operating margin of 19.6%, against 20.8% at Edwards Lifesciences. Free cash flow was $1.1 billion at Dexcom and $1.3 billion at Edwards Lifesciences.
Side by side
| Dexcom | Edwards Lifesciences | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $4.7B | $6.1B |
| Revenue growth | 15.6% | 11.6% |
| Revenue growth a year, last 5 years | 19.3% | 6.7% |
| Gross margin | 60.1% | 78.0% |
| Operating margin | 19.6% | 20.8% |
| Net margin | 17.9% | 17.7% |
| Free cash flow | $1.1B | $1.3B |
| Free cash flow margin | 23.1% | 22.0% |
| Return on capital | 44.9% | 15.7% |
| Net debt to EBITDA | −0.6x | −2.5x |
| Dividends and buybacks | $500M | $893M |
| Change in diluted share count | −1.7% | −2.2% |
| Last close | $78.57 | $90.56 |
| P/E at the last close | 31.2× | 52.0× |
| Insider trades, last 12 months | bought $1.0 million, sold $12.8 million | sold $27.7 million |
| Piotroski F-score | 8 of 9 | 5 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
DexcomEdwards Lifesciences
Operating margin
Percent of revenue
DexcomEdwards Lifesciences
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
DexcomEdwards Lifesciences
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Dexcom and Edwards Lifesciences pages.