DEXCOM, INC. vs Smith & Nephew plc, two Medical Devices stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Dexcom at 30.1 times earnings is priced for continuous glucose monitoring to keep spreading beyond diabetes; Smith & Nephew at 41.6 times is priced for an orthopedics turnaround to finally deliver margins it has promised for years. The current economics make the cheaper stock the stronger one: Dexcom earns a 21.4% operating margin against 12.9%, a 31.5% return on equity against 11.8%, both debt-free. Free-cash yields sit close, 5.2% and 4.9%. The pair prices demonstrated growth below promised repair, eleven turns apart in the wrong direction by every printed line; the market is betting Smith & Nephew's fix arrives before Dexcom's competition does, and charging for the privilege.
Comparison updated 2026-07-10.
| Metric | DXCM | SNN |
|---|---|---|
| Price | $70.09 | $30.02 |
| Market cap | $27.6B | $26.0B |
| Sector | Medical Devices | Medical Devices |
| Stage | Growth | Mature |
| P/E | 30.1 | 41.6 |
| P/B | 9.33 | 4.92 |
| P/S | 5.73 | 4.22 |
| EV/EBITDA | 20.5 | 32.1 |
| Revenue growth | +16.3% | +4.3% |
| Gross margin | 63.0% | 68.0% |
| Operating margin | 21.4% | 12.9% |
| Net margin | 19.3% | 10.1% |
| Return on equity | 31.5% | 11.8% |
| Return on assets | 14.0% | 6.0% |
| Return on invested capital | 25.9% | 12.0% |
| FCF yield | 5.2% | 4.9% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 1.95 | 2.57 |
| Altman Z (solvency) | 6.29 | 4.86 |
| Piotroski F (quality) | 7 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.