My impression is, that when you dismiss them telling them to wait for you at the L38 they go there (and may get killed on the way if it leads through dangerous territory)
They fixed this in the Patch.
It used to be that the companion would walk back to the Lucky 38 going through whatever areas there was. Now, the game is supposed to suspend combat if the PC is not in or near the cell, but that does not always work out. I do remember sending one of my companions back to the Lucky, then later on Fast Traveling to a place in between, only to see my companion come walking up to me as they were passing by.
This is why it could take days for your companions to get back to the Lucky 38, and they might not get back at all.
Now, with the patch, the companion is instantly teleported to the Lucky 38 so they see no combat. In fact, if you dismiss them now in the Lucky 38 Suite, you wil see them dissapear, then reappear a moment later in another spot in the Suite.
I don't know what happens if you send them back to their home base (not have them meet you at the Lucky 38) with the patch. Someone will have to test that.