DXCM vs. MDT: DexCom vs. Medtronic Stock Comparison

November 11, 2026

How do DexCom (DXCM) and Medtronic (MDT) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

DexCom (DXCM) and Medtronic (MDT) are both classified in the Health Care Equipment sub-industry within the broader Health Care Equipment & Supplies industry, placing them in the closest GICS peer bucket.

Company profile comparison for DexCom (DXCM) and Medtronic (MDT)
Profile Item	DXCM	MDT
Name	DexCom Inc.	Medtronic plc
Country/Region	United States	Ireland
GICS Sector	Health Care	Health Care
GICS Industry Group	Health Care Equipment & Services	Health Care Equipment & Services
GICS Industry	Health Care Equipment & Supplies	Health Care Equipment & Supplies
GICS Sub-Industry	Health Care Equipment	Health Care Equipment
Market Capitalization	29.62 billion USD	130.22 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	April 14, 2005	May 2, 1973
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

DXCM

MDT

GSPC

DexCom (DXCM) vs. Medtronic (MDT), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for DexCom (DXCM) and Medtronic (MDT). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

Calendar-year total returns for DexCom (DXCM) and Medtronic (MDT). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for DexCom (DXCM) and Medtronic (MDT)
Metric	DXCM	MDT
Total Return (1Y)	46.33%	15.72%
Total Return (3Y, Annualized)	-4.50%	17.58%
Total Return (5Y, Annualized)	-12.76%	-0.18%

Risk Profile

Drawdown History

DXCM

MDT

GSPC

DexCom (DXCM) vs. Medtronic (MDT), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…

Distribution of monthly total returns for DexCom (DXCM) and Medtronic (MDT). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

DexCom (DXCM) has an aggressive beta of 1.43, indicating higher sensitivity to broad-market moves, while Medtronic (MDT) is defensive at 0.53 and tends to be less market-sensitive — they sit on opposite ends of the beta spectrum.

Risk profile metrics for DexCom (DXCM) and Medtronic (MDT)
Metric	DXCM	MDT
Volatility (1Y, Annualized)	38.37%	25.84%
Beta (5Y)	1.43	0.53
Max Drawdown (5Y)	-66.32%	-39.67%
Avg. Volume (3M)	4.34M	16.48M

Risk-Adjusted Performance

Risk-Return Positioning

DXCM and MDT are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for DexCom (DXCM) and Medtronic (MDT)
Metric	DXCM	MDT
Sharpe Ratio (1Y)	1.10	0.44
Sortino Ratio (1Y)	1.79	0.71

Profitability

ROE (TTM)

DexCom (DXCM) at 37.67% sits in the top ROE quartile, while Medtronic (MDT) at 10.65% is closer to the peer norm — stronger capital efficiency for DXCM.

DXCM

Health Care Equipment & Services industry group

37.67%

Max: 47.61%
DXCM: 37.67%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

MDT

Health Care Equipment & Services industry group

10.65%

Max: 47.61%
Q3: 14.36%
MDT: 10.65%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

DexCom (DXCM) vs. Medtronic (MDT): A comparison of their ROE against the Health Care Equipment & Services industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both DexCom (DXCM) at 19.42% and Medtronic (MDT) at 13.93% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

DXCM

Health Care Equipment & Services industry group

19.42%

Max: 29.35%
DXCM: 19.42%
Q3: 9.33%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

MDT

Health Care Equipment & Services industry group

13.93%

Max: 29.35%
MDT: 13.93%
Q3: 9.33%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

DexCom (DXCM) vs. Medtronic (MDT): A comparison of their net margin against the Health Care Equipment & Services industry group benchmark.

Operating Margin (TTM)

Both DexCom (DXCM) at 24.34% and Medtronic (MDT) at 19.33% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

DXCM

Health Care Equipment & Services industry group

24.34%

Max: 35.43%
DXCM: 24.34%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

MDT

Health Care Equipment & Services industry group

19.33%

Max: 35.43%
MDT: 19.33%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

DexCom (DXCM) vs. Medtronic (MDT): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for DexCom (DXCM) and Medtronic (MDT)
Metric	DXCM	MDT
ROE (TTM)	37.67%	10.65%
ROA (TTM)	11.14%	5.12%
Net Margin (TTM)	19.42%	13.93%
Operating Margin (TTM)	24.34%	19.33%
Gross Margin (TTM)	63.42%	65.27%

Growth

Revenue Growth

Both DexCom (DXCM) at 15.60% and Medtronic (MDT) at 8.43% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

DexCom (DXCM) vs. Medtronic (MDT): A comparison of their Revenue Growth across different time periods.

EPS Growth

DexCom (DXCM) at 47.18% sits in the top EPS growth quartile, while Medtronic (MDT) at 3.32% is closer to the peer norm — faster per-share earnings growth for DXCM.

DexCom (DXCM) vs. Medtronic (MDT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for DexCom (DXCM) and Medtronic (MDT)
Metric	DXCM	MDT
Revenue Growth (YoY)	15.60%	8.43%
Revenue Growth (3Y CAGR)	17.01%	5.21%
EPS Growth (YoY)	47.18%	3.32%
EPS Growth (3Y CAGR)	36.60%	9.77%

Financial Strength

Current Ratio (MRQ)

Both DexCom (DXCM) at 1.74 and Medtronic (MDT) at 2.07 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

DXCM

Health Care Equipment & Services industry group

1.74

Max: 7.59
Q3: 4.00
Median: 1.98
DXCM: 1.74
Q1: 1.37
Min: 0.30

MDT

Health Care Equipment & Services industry group

2.07

Max: 7.59
Q3: 4.00
MDT: 2.07
Median: 1.98
Q1: 1.37
Min: 0.30

DexCom (DXCM) vs. Medtronic (MDT): A comparison of their current ratio against the Health Care Equipment & Services industry group benchmark.

Debt / Equity (MRQ)

Both DexCom (DXCM) at 0.55 and Medtronic (MDT) at 0.55 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

DXCM

Health Care Equipment & Services industry group

0.55

Max: 1.88
Q3: 0.91
Median: 0.58
DXCM: 0.55
Q1: 0.16
Min: 0.00

MDT

Health Care Equipment & Services industry group

0.55

Max: 1.88
Q3: 0.91
Median: 0.58
MDT: 0.55
Q1: 0.16
Min: 0.00

DexCom (DXCM) vs. Medtronic (MDT): A comparison of their debt-to-equity ratio against the Health Care Equipment & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for DexCom (DXCM) and Medtronic (MDT)
Metric	DXCM	MDT
Current Ratio (MRQ)	1.74	2.07
Debt / Equity (MRQ)	0.55	0.55
Net Debt / EBITDA	-0.28	1.86

Dividends

Dividend Yield (TTM)

DexCom (DXCM) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Medtronic (MDT) reports a yield of 2.72%, ranking against industry peers normally.

DXCM

Health Care Equipment & Services industry group

0.00%

DXCM: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

MDT

Health Care Equipment & Services industry group

2.72%

MDT: 2.72%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

DexCom (DXCM) vs. Medtronic (MDT): A comparison of their dividend yield against the Health Care Equipment & Services industry group benchmark.

Dividend Payout Ratio (TTM)

DexCom (DXCM) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Medtronic (MDT) reports a payout of 70.02%, ranking against industry peers normally.

DXCM

Health Care Equipment & Services industry group

0.00%

DXCM: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

MDT

Health Care Equipment & Services industry group

70.02%

MDT: 70.02%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

DexCom (DXCM) vs. Medtronic (MDT): A comparison of their payout ratio against the Health Care Equipment & Services industry group benchmark.

Dividend Metrics

Dividend metrics for DexCom (DXCM) and Medtronic (MDT)
Metric	DXCM	MDT
Dividend Yield (TTM)	0.00%	2.72%
Dividend Payout Ratio (TTM)	0.00%	70.02%

Valuation

P/E Ratio (TTM)

Both DexCom (DXCM) at 31.26 and Medtronic (MDT) at 25.01 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

DXCM

Health Care Equipment & Services industry group

31.26

Max: 80.41
Q3: 47.62
DXCM: 31.26
Median: 29.93
Q1: 21.19
Min: 4.21

MDT

Health Care Equipment & Services industry group

25.01

Max: 80.41
Q3: 47.62
Median: 29.93
MDT: 25.01
Q1: 21.19
Min: 4.21

DexCom (DXCM) vs. Medtronic (MDT): A comparison of their P/E ratio against the Health Care Equipment & Services industry group benchmark.

P/S Ratio (TTM)

Medtronic (MDT) at 3.47 is priced about in line with its industry on P/S ratio, while DexCom (DXCM) at 5.80 sits in the pricier quartile — DXCM costs more per dollar of sales.

DXCM

Health Care Equipment & Services industry group

5.80

Max: 8.80
DXCM: 5.80
Q3: 4.32
Median: 2.13
Q1: 1.10
Min: 0.03

MDT

Health Care Equipment & Services industry group

3.47

Max: 8.80
Q3: 4.32
MDT: 3.47
Median: 2.13
Q1: 1.10
Min: 0.03

DexCom (DXCM) vs. Medtronic (MDT): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

Medtronic (MDT) at 2.59 is valued about in line with its industry on P/B ratio, while DexCom (DXCM) at 11.68 carries an above-peer premium to book — DXCM is pricier on assets.

DXCM

Health Care Equipment & Services industry group

11.68

DXCM: 11.68
Max: 11.68
Q3: 6.12
Median: 3.00
Q1: 1.73
Min: -1.31

MDT

Health Care Equipment & Services industry group

2.59

Max: 11.68
Q3: 6.12
Median: 3.00
MDT: 2.59
Q1: 1.73
Min: -1.31

DexCom (DXCM) vs. Medtronic (MDT): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for DexCom (DXCM) and Medtronic (MDT)
Metric	DXCM	MDT
P/E Ratio (TTM)	31.26	25.01
P/S Ratio (TTM)	5.80	3.47
P/B Ratio (MRQ)	11.68	2.59
Free Cash Flow Yield (TTM)	2.74%	4.16%