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Dexcom vs Solventum: revenue, profit, margins and growth compared

Dexcom brought in $4.7B of revenue in fiscal 2025, Solventum $8.3B in fiscal 2025. Revenue changed by +15.6% at Dexcom and +0.9% at Solventum on the year before, so Dexcom grew faster. Dexcom kept 17.9% of its revenue as net profit, Solventum 18.7%. Free cash flow was $1.1B at Dexcom and -$10M at Solventum.

Side by side, latest fiscal year

DXCMSOLV
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4.7B$8.3B
Revenue growth+15.6%+0.9%
Net income$836.3M$1.6B
Net margin17.9%18.7%
Free cash flow$1.1B-$10M
Free cash flow margin23.1%-0.1%
Earnings per share (diluted)$2.09$8.88
Cash$917.7M$878M
Debtn/a$5B
Price to earnings41.410.1
Market value$32.7B$15.2B
Dividend yieldn/an/a
Rank by revenue in sector#65 of 523 · Health care#49 of 523 · Health care

Over the years

Revenue
DXCM FY2018: $1BDXCM FY2019: $1.5BDXCM FY2020: $1.9BDXCM FY2021: $2.4BDXCM FY2022: $2.9BDXCM FY2023: $3.6BDXCM FY2024: $4BDXCM FY2025: $4.7BSOLV FY2022: $8.1BSOLV FY2024: $8.2BSOLV FY2024: $8.3BSOLV FY2025: $8.3BFY18FY19FY20FY21FY22FY23FY24FY25
DXCM $4.7BSOLV $8.3B
Net income
DXCM FY2018: -$127.1MDXCM FY2019: $101.1MDXCM FY2020: $549.7MDXCM FY2021: $216.9MDXCM FY2022: $341.2MDXCM FY2023: $541.5MDXCM FY2024: $576.2MDXCM FY2025: $836.3MSOLV FY2022: $1.3BSOLV FY2024: $1.3BSOLV FY2024: $479MSOLV FY2025: $1.6BFY18FY19FY20FY21FY22FY23FY24FY25
DXCM $836.3MSOLV $1.6B
Net margin
DXCM FY2018: -12.3%DXCM FY2019: 6.8%DXCM FY2020: 28.5%DXCM FY2021: 8.9%DXCM FY2022: 11.7%DXCM FY2023: 14.9%DXCM FY2024: 14.3%DXCM FY2025: 17.9%SOLV FY2022: 16.5%SOLV FY2024: 16.4%SOLV FY2024: 5.8%SOLV FY2025: 18.7%FY18FY19FY20FY21FY22FY23FY24FY25
DXCM 17.9%SOLV 18.7%
Revenue growth
DXCM FY2019: +43.1%DXCM FY2020: +30.5%DXCM FY2021: +27.1%DXCM FY2022: +18.8%DXCM FY2023: +24.5%DXCM FY2024: +11.3%DXCM FY2025: +15.6%SOLV FY2024: +0.8%SOLV FY2024: +0.7%SOLV FY2025: +0.9%FY19FY20FY21FY22FY23FY24FY25
DXCM +15.6%SOLV +0.9%
Free cash flow
DXCM FY2018: $56.1MDXCM FY2019: $134.5MDXCM FY2020: $276.6MDXCM FY2021: $53.3MDXCM FY2022: $304.7MDXCM FY2023: $511.9MDXCM FY2024: $630.7MDXCM FY2025: $1.1BSOLV FY2022: $1.4BSOLV FY2024: $1.6BSOLV FY2024: $805MSOLV FY2025: -$10MFY18FY19FY20FY21FY22FY23FY24FY25
DXCM $1.1BSOLV -$10M

Fiscal years as each company reports them; the two may end in different months.

Questions about Dexcom and Solventum

Which is bigger by revenue, Dexcom or Solventum?

Solventum is bigger by revenue: $8.3B in fiscal 2025, against $4.7B for Dexcom in fiscal 2025.

Which keeps more of its revenue as profit, Dexcom or Solventum?

Dexcom had a net margin of 17.9% in fiscal 2025; Solventum had 18.7% in fiscal 2025.

Which grew revenue faster, Dexcom or Solventum?

In their latest fiscal years revenue changed by +15.6% at Dexcom and +0.9% at Solventum.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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