TNDM vs. DXCM

Last updated Apr 1, 2026

Compare and contrast key facts about Tandem Diabetes Care, Inc. (TNDM) and DexCom, Inc. (DXCM).

Performance

TNDM vs. DXCM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tandem Diabetes Care, Inc. (TNDM) and DexCom, Inc. (DXCM). The values are adjusted to include any dividend payments, if applicable.

TNDM vs. DXCM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TNDM Tandem Diabetes Care, Inc.	-12.78%	-38.98%	21.77%	-34.19%	-70.14%	57.32%	60.51%	56.99%	1,508.90%	-89.02%
DXCM DexCom, Inc.	-5.38%	-14.66%	-37.33%	9.58%	-15.64%	45.23%	69.02%	82.59%	108.75%	-3.87%

Fundamentals

Market Cap TNDM : $1.30B DXCM : $25.05B
EPS TNDM : -$3.03 DXCM : $2.07
PS Ratio TNDM : 1.28 DXCM : 5.45
PB Ratio TNDM : 8.40 DXCM : 9.12
Total Revenue (TTM) TNDM : $1.01B DXCM : $4.66B
Gross Profit (TTM) TNDM : $546.01M DXCM : $2.80B
EBITDA (TTM) TNDM : -$173.04M DXCM : $1.34B

Returns By Period

In the year-to-date period, TNDM achieves a -12.78% return, which is significantly lower than DXCM's -5.38% return. Over the past 10 years, TNDM has underperformed DXCM with an annualized return of -14.33%, while DXCM has yielded a comparatively higher 14.02% annualized return.

TNDM

• 1D: -2.12%
• 1M: -24.23%
• YTD: -12.78%
• 6M: 57.91%
• 1Y: 0.05%
• 3Y*: -22.14%
• 5Y*: -26.21%
• 10Y*: -14.33%

DXCM

• 1D: 1.45%
• 1M: -14.48%
• YTD: -5.38%
• 6M: -6.67%
• 1Y: -8.04%
• 3Y*: -18.54%
• 5Y*: -7.23%
• 10Y*: 14.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

TNDM vs. DXCM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TNDM

TNDM Risk / Return Rank: 43
TNDM Sharpe Ratio Rank: 41
TNDM Sortino Ratio Rank: 46
TNDM Omega Ratio Rank: 44
TNDM Calmar Ratio Rank: 42
TNDM Martin Ratio Rank: 41

DXCM

DXCM Risk / Return Rank: 34
DXCM Sharpe Ratio Rank: 34
DXCM Sortino Ratio Rank: 31
DXCM Omega Ratio Rank: 32
DXCM Calmar Ratio Rank: 37
DXCM Martin Ratio Rank: 37

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TNDM vs. DXCM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tandem Diabetes Care, Inc. (TNDM) and DexCom, Inc. (DXCM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TNDM	DXCM	Difference
Sharpe ratio Return per unit of total volatility	0.00	-0.18	+0.19
Sortino ratio Return per unit of downside risk	0.62	0.04	+0.59
Omega ratio Gain probability vs. loss probability	1.07	1.01	+0.07
Calmar ratio Return relative to maximum drawdown	-0.01	-0.19	+0.18
Martin ratio Return relative to average drawdown	-0.02	-0.38	+0.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TNDM vs. DXCM - Sharpe Ratio Comparison

The current TNDM Sharpe Ratio is 0.00, which is higher than the DXCM Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of TNDM and DXCM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TNDM	DXCM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.00	-0.18	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.40	-0.16	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.19	0.29	-0.48
Sharpe Ratio (All Time) Calculated using the full available price history	-0.23	0.29	-0.52

Correlation

The correlation between TNDM and DXCM is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TNDM vs. DXCM - Dividend Comparison

Neither TNDM nor DXCM has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

TNDM vs. DXCM - Drawdown Comparison

The maximum TNDM drawdown since its inception was -99.25%, roughly equal to the maximum DXCM drawdown of -94.61%. Use the drawdown chart below to compare losses from any high point for TNDM and DXCM.

Drawdown Indicators

	TNDM	DXCM	Difference
Max Drawdown Largest peak-to-trough decline	-99.25%	-94.61%	-4.64%
Max Drawdown (1Y) Largest decline over 1 year	-56.99%	-38.75%	-18.24%
Max Drawdown (5Y) Largest decline over 5 years	-93.40%	-66.32%	-27.08%
Max Drawdown (10Y) Largest decline over 10 years	-97.99%	-66.32%	-31.67%
Current Drawdown Current decline from peak	-93.61%	-61.43%	-32.18%
Average Drawdown Average peak-to-trough decline	-76.93%	-35.79%	-41.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.59%	19.27%	+8.32%

Volatility

TNDM vs. DXCM - Volatility Comparison

Tandem Diabetes Care, Inc. (TNDM) has a higher volatility of 20.72% compared to DexCom, Inc. (DXCM) at 9.22%. This indicates that TNDM's price experiences larger fluctuations and is considered to be riskier than DXCM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNDM	DXCM	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.72%	9.22%	+11.50%
Volatility (6M) Calculated over the trailing 6-month period	54.98%	27.63%	+27.35%
Volatility (1Y) Calculated over the trailing 1-year period	76.28%	43.67%	+32.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.93%	46.76%	+19.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	77.52%	48.31%	+29.21%

Financials

TNDM vs. DXCM - Profitability Comparison

The chart below illustrates the profitability comparison between Tandem Diabetes Care, Inc. and DexCom, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TNDM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Tandem Diabetes Care, Inc. reported a gross profit of 167.46M and revenue of 290.38M. Therefore, the gross margin over that period was 57.7%.

DXCM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, DexCom, Inc. reported a gross profit of 792.70M and revenue of 1.26B. Therefore, the gross margin over that period was 62.9%.

TNDM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Tandem Diabetes Care, Inc. reported an operating income of 8.29M and revenue of 290.38M, resulting in an operating margin of 2.9%.

DXCM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, DexCom, Inc. reported an operating income of 323.00M and revenue of 1.26B, resulting in an operating margin of 25.6%.

TNDM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Tandem Diabetes Care, Inc. reported a net income of -589.00K and revenue of 290.38M, resulting in a net margin of -0.2%.

DXCM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, DexCom, Inc. reported a net income of 267.30M and revenue of 1.26B, resulting in a net margin of 21.2%.