Dropbox, Inc. (DBX)
Dropbox, Inc. provides a content collaboration platform in the United States and internationally. The company's platform enables individuals, families, teams, and organizations to collaborate for free through its website or app, or through a paid subscription plan for premium features. Its platform consists of various elements, such as unified home for content, global sharing network, and product experiences and integrations. The company serves customers in the professional services, technology, media, education, industrial, consumer and retail, and financial services industries. The company was formerly known as Evenflow, Inc. and changed its name to Dropbox, Inc. in October 2009. Dropbox, Inc. was incorporated in 2007 and is headquartered in San Francisco, California.
- Ticker
- DBX
- Exchange
- Nasdaq
- Sector
- Technology
- Industry
- Software - Infrastructure
- Market cap
- $7.31B
- 52-week range
- $21.69 - $38.22
Valuation
- Share price
- $33.51 (close of Nov 12, 2026)
- P/E (TTM)
- 17.79x
- Price to book
- -3.34x
- Price to free cash flow
- 7.99x
- Enterprise value
- $10.13B
- Book value per share
- $-10.02
Price performance
| Period | Change |
|---|---|
| 1 day | +1.06% |
| 5 days | -6.29% |
| 1 month | -3.90% |
| 3 months | -0.36% |
| 6 months | +29.83% |
| Year to date | +20.54% |
| 1 year | +8.66% |
| 3 years | +25.93% |
| 5 years | +24.16% |
| All time | +17.66% |
Short interest
- As of
- Oct 30, 2026
- Short % of float
- 29.21%
- Shares short
- 24.21M
- Days to cover
- 8.62
- Change since prior report
- +5.66%
- Source
- FINRA consolidated short interest
Members of Congress who disclosed DBX trades
Julia Letlow · Lisa McClain · Robert Bresnahan
Super investors holding DBX
Ray Dalio (Bridgewater Associates) · Ken Griffin (Citadel)
Profitability and growth
- Return on invested capital
- 32.40%
- Return on assets
- 17.87%
- Return on capital employed
- 72.43%
- Gross margin
- 80.13%
- Net margin
- 20.17%
- EBITDA margin
- 33.58%
- Revenue growth
- -1.07%
- Net income growth
- 12.40%
- Free cash flow growth
- 6.79%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 12.52%
- Current ratio
- 1.07x
- Net debt to EBITDA
- 3.39x
Latest reported year
- Period end
- Dec 31, 2025
- Fiscal year
- 2025
- Revenue
- $2.52B
- Cost of revenue
- $500.80M
- Gross profit
- $2.02B
- EBITDA
- $846.60M
- Net income
- $508.40M
- Earnings per share
- $1.89
- Research and development
- $732.00M
- Interest expense
- $78.60M
- Shares outstanding
- 268.30M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|---|---|---|---|
| 2025-12-31 | $2.52B | $2.02B | $508.40M | $1.89 |
| 2024-12-31 | $2.55B | $2.10B | $452.30M | $1.42 |
| 2023-12-31 | $2.50B | $2.02B | $453.60M | $1.33 |
| 2022-12-31 | $2.32B | $1.88B | $553.20M | $1.53 |
| 2021-12-31 | $2.16B | $1.71B | $335.80M | $0.87 |
| 2020-12-31 | $1.91B | $1.50B | -$256.30M | -$0.62 |
| 2019-12-31 | $1.66B | $1.25B | -$52.70M | -$0.13 |
| 2018-12-31 | $1.39B | $997.00M | -$484.90M | -$1.35 |
| 2017-12-31 | $1.11B | $737.90M | -$111.70M | -$0.57 |
| 2016-12-31 | $844.80M | $454.20M | -$210.20M | -$1.11 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|---|---|---|---|
| 2025-12-31 | 80.13% | 20.17% | - | 32.40% |
| 2024-12-31 | 82.53% | 17.75% | - | 19.10% |
| 2023-12-31 | 80.87% | 18.13% | - | 23.48% |
| 2022-12-31 | 80.89% | 23.79% | - | 9.13% |
| 2021-12-31 | 79.42% | 15.56% | - | 13.23% |
| 2020-12-31 | 78.34% | -13.39% | -76.78% | -19.06% |
| 2019-12-31 | 75.26% | -3.17% | -6.52% | -4.44% |
| 2018-12-31 | 71.64% | -34.84% | -71.65% | -72.99% |
| 2017-12-31 | 66.67% | -10.09% | -108.55% | -87.26% |
| 2016-12-31 | 53.76% | -24.88% | -171.17% | - |
Cash and debt by year
| Period end | Cash | Debt |
|---|---|---|
| 2025-12-31 | $1.04B | $2.12B |
| 2024-12-31 | $1.59B | $2.34B |
| 2023-12-31 | $1.36B | $1.38B |
| 2022-12-31 | $1.34B | $1.37B |
| 2021-12-31 | $1.72B | $1.37B |
| 2020-12-31 | $1.12B | - |
| 2019-12-31 | $1.16B | - |
| 2018-12-31 | $1.09B | - |
| 2017-12-31 | $430.00M | - |
| 2016-12-31 | $352.70M | - |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|---|---|
| 2025-12-31 | $930.80M | $300.80M |
| 2024-12-31 | $871.60M | $346.50M |
| 2023-12-31 | $759.40M | $338.00M |
| 2022-12-31 | $763.50M | $330.70M |
| 2021-12-31 | $707.70M | $287.10M |
| 2020-12-31 | $490.70M | $261.50M |
| 2019-12-31 | $392.40M | $261.20M |
| 2018-12-31 | $362.40M | $650.10M |
| 2017-12-31 | $305.00M | $164.60M |
| 2016-12-31 | $137.40M | $147.60M |
Investor relations
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-11-05 | Sep 2026 | $0.44 |
| 2026-08-06 | Jun 2026 | $0.48 |
| 2026-05-07 | Mar 2026 | $0.46 |
| 2026-02-19 | Dec 2025 | $0.43 |
| 2025-11-06 | Sep 2025 | $0.41 |
| 2025-08-07 | Jun 2025 | $0.41 |
| 2025-05-08 | Mar 2025 | $0.43 |
| 2025-02-20 | Dec 2024 | $0.36 |
Filings and sources
- Company website
- dropbox.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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