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.

Symbol
DBX
Exchange
Nasdaq
Sector
Technology
Industry
Software - Infrastructure
Market cap
$7.18B
52 week range
21.69 - 38.17

Valuation

Share price
$31.92 (close of 2026-09-28)
P/E (TTM)
17.44x
Price to book
-3.28x
Price to free cash flow
7.50x
Enterprise value
$10.04B
Book value per share
$-9.73

Price performance

PeriodChange
1 day-1.24%
5 days-11.36%
1 month-10.59%
3 months+19.82%
6 months+44.11%
Year to date+14.82%
1 year+1.59%
3 years+17.22%
5 years+7.80%
All time+12.08%

Members of Congress who disclosed DBX trades

Julia Letlow · Lisa McClain · Robert Bresnahan

Profitability and growth

Return on equity
-28.29%
Return on invested capital
77.16%
Return on assets
17.87%
Return on capital employed
72.43%
Gross margin
80.13%
Net margin
20.17%
EBITDA margin
32.55%
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)
13.34%
Current ratio
1.07x
Net debt to EBITDA
3.43x

Latest reported year

Period end
2025-12-31
Fiscal year
2025
Revenue
$2.52B
Cost of revenue
$500.80M
Gross profit
$2.02B
EBITDA
$820.70M
Net income
$508.40M
Earnings per share
$1.89
Research and development
$732.00M
Shares outstanding
268.30M

Income statement by year

Period endRevenueGross profitNet incomeEPS
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 endGross marginNet marginReturn on equityReturn on capital
2025-12-3180.13%20.17%-28.29%77.16%
2024-12-3182.53%17.75%-60.11%65.95%
2023-12-3180.87%18.13%-273.58%86.07%
2022-12-3180.89%23.79%-178.80%28.25%
2021-12-3179.42%15.56%-114.26%-
2020-12-3178.34%-13.39%-76.78%-83.43%
2019-12-3175.26%-3.17%-6.52%-12.27%
2018-12-3171.64%-34.84%-71.65%-
2017-12-3166.67%-10.09%-108.55%-
2016-12-3153.76%-24.88%-171.17%-

Cash and debt by year

Period endCash
2025-12-31$1.04B
2024-12-31$1.59B
2023-12-31$1.36B
2022-12-31$1.34B
2021-12-31$1.72B
2020-12-31$1.12B
2019-12-31$1.16B
2018-12-31$1.09B
2017-12-31$430.00M

Free cash flow by year

Period endFree cash flowStock-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

Next earnings report

Next confirmed report
2026-11-05
Consensus EPS estimate
$0.44

Past earnings dates

ReportedFiscal periodEPS estimate
2026-08-06Jun/2026$0.48
2026-05-07--
2026-02-19--
2025-11-06--
2025-08-07--
2025-05-08--
2025-02-20--
2025-02-13--

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 · 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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