DEXCOM, INC. vs STRYKER CORP, two Medical Devices stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Neither growth rate prints here, but the multiples imply the ordering: Stryker at 38.5 times earnings out-prices Dexcom at 30.1, the orthopedics compounder valued above the glucose-sensor grower. The income statements read the other way: Dexcom earns a 21.4% operating margin against Stryker's 15.6%, a 19.3% net against 13.2%, and doubles the return on equity, 31.5% against 14.5%, without Stryker's 0.64 turns of acquisition debt. Dexcom also converts more of its price to free cash, 5.2% against 3.6%. What Stryker's premium buys is track record and breadth; what Dexcom's discount carries is single-product concentration and GLP-1 anxiety. The stronger current economics are on sale; the steadier history is not.
Comparison updated 2026-07-10.
| Metric | DXCM | SYK |
|---|---|---|
| Price | $70.09 | $332.30 |
| Market cap | $27.6B | $128.4B |
| Sector | Medical Devices | Medical Devices |
| Stage | Growth | Mature |
| Implied growth (priced in) | — | +23.7% |
| P/E | 30.1 | 38.5 |
| P/B | 9.33 | 5.59 |
| P/S | 5.73 | 5.08 |
| EV/EBITDA | 20.5 | 21.3 |
| Revenue growth | +16.3% | +8.8% |
| Gross margin | 63.0% | 63.3% |
| Operating margin | 21.4% | 15.6% |
| Net margin | 19.3% | 13.2% |
| Return on equity | 31.5% | 14.5% |
| Return on assets | 14.0% | 7.2% |
| Return on invested capital | 25.9% | 11.6% |
| FCF yield | 5.2% | 3.6% |
| Dividend yield | — | 0.5% |
| Debt / equity | 0.00 | 0.64 |
| Current ratio | 1.95 | 2.11 |
| Altman Z (solvency) | 6.29 | 4.73 |
| Piotroski F (quality) | 7 / 9 | 5 / 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.