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Dropbox, Inc. logo

Dropbox, Inc.

DBX

NASDAQTechnologySoftware - Infrastructure

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Previous close

$34.47

+$0.47 · +1.38%

Aug 21, 4:00 PM ET

DBX company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

84

Deep Value

Momentum

53

Neutral

Sentiment

46

Mixed

Risk resilience

69

Moderate Risk

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Company profile

Company website

Dropbox, Inc. engages in providing file backup, sync, and sharing solutions. Its products include Dropbox, Dropbox Reply, Dropbox Sign, Dropbox Reclaim.ai, Dropbox Dash, Dropbox DocSend, Dropbox Fax, and Dropbox Early access. It operates through the United States and International geographical segments. The company was founded by Andrew W. Houston and Arash Ferdowsi in May 2007 and is headquartered in San Francisco, CA.

Industry
Software - Infrastructure
Sector
Technology
Headquarters
US
CEO
Andrew W. Houston
Listed since
Mar 23, 2018
Employees
2,113

Market position

Day range

Current $34.47

52-week range

Current $34.47

Open
$33.94
Previous close
$34.00
Volume
2.04M
0.52× average
Average volume
3.96M
Average daily volume
Market cap
8.77B USD
Beta
0.64
Market reference 1
50-day average
$30.4024
+13.38% above average
200-day average
$27.411
+25.75% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
10.51B USD
EV / EBITDA
11.81×
Earnings yield
6.82%
Free cash flow yield
12.48%

Profitability & efficiency

Return on equity
-28.29%
Return on assets
17.43%
Return on invested capital
29.51%

Financial health

Current ratio
0.62×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends90%60%30%0%Gross margin, FY2021: 79.42%Gross margin, FY2022: 80.89%Gross margin, FY2023: 80.87%Gross margin, FY2024: 82.53%Gross margin, FY2025: 80.13%Operating margin, FY2021: 12.72%Operating margin, FY2022: 7.80%Operating margin, FY2023: 21.53%Operating margin, FY2024: 19.08%Operating margin, FY2025: 27.43%Net margin, FY2021: 15.56%Net margin, FY2022: 23.79%Net margin, FY2023: 18.13%Net margin, FY2024: 17.75%Net margin, FY2025: 20.17%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 79.42%. Gross margin FY2022 80.89%. Gross margin FY2023 80.87%. Gross margin FY2024 82.53%. Gross margin FY2025 80.13%. Operating margin FY2021 12.72%. Operating margin FY2022 7.80%. Operating margin FY2023 21.53%. Operating margin FY2024 19.08%. Operating margin FY2025 27.43%. Net margin FY2021 15.56%. Net margin FY2022 23.79%. Net margin FY2023 18.13%. Net margin FY2024 17.75%. Net margin FY2025 20.17%.

Income trends

Revenue

2.52B USD-1.07%

Operating income

691.5M USD+42.23%

Net income

508.4M USD+12.40%
Income trends across reported periods2.78B USD1.84B USD891.37M USD−55.39M USDRevenue, FY2021: 2.16B USDRevenue, FY2022: 2.32B USDRevenue, FY2023: 2.5B USDRevenue, FY2024: 2.55B USDRevenue, FY2025: 2.52B USDOperating income, FY2021: 274.4M USDOperating income, FY2022: 181.3M USDOperating income, FY2023: 538.7M USDOperating income, FY2024: 486.2M USDOperating income, FY2025: 691.5M USDNet income, FY2021: 335.8M USDNet income, FY2022: 553.2M USDNet income, FY2023: 453.6M USDNet income, FY2024: 452.3M USDNet income, FY2025: 508.4M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 2.16B USD. Revenue FY2022 2.32B USD. Revenue FY2023 2.5B USD. Revenue FY2024 2.55B USD. Revenue FY2025 2.52B USD. Operating income FY2021 274.4M USD. Operating income FY2022 181.3M USD. Operating income FY2023 538.7M USD. Operating income FY2024 486.2M USD. Operating income FY2025 691.5M USD. Net income FY2021 335.8M USD. Net income FY2022 553.2M USD. Net income FY2023 453.6M USD. Net income FY2024 452.3M USD. Net income FY2025 508.4M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue2.52B USD2.55B USD2.5B USD2.32B USD2.16B USD
Cost of goods sold500.8M USD445.1M USD478.5M USD444.2M USD444.2M USD
Gross profit2.02B USD2.1B USD2.02B USD1.88B USD1.71B USD
Research and development732M USD914.9M USD936.5M USD891.9M USD755.9M USD
Selling, general, and administrative600.4M USD701.9M USD703.1M USD632.3M USD652.1M USD
Operating expenses1.33B USD1.62B USD1.48B USD1.7B USD1.44B USD
Interest income36.2M USD39M USD34.6M USD15.7M USD7.5M USD
Interest expense114.8M USD25.1M USD15.2M USD12.4M USD12.7M USD
Depreciation and amortization157.5M USD137.3M USD170M USD157.1M USD151.4M USD
Operating income691.5M USD486.2M USD538.7M USD181.3M USD274.4M USD
Net income508.4M USD452.3M USD453.6M USD553.2M USD335.8M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
100%
11 beats, 0 misses, 0 met estimates
Average EPS surprise
+10.72%
11 comparable reports
Latest EPS result
0.75
Estimate 0.74 · Beat by 1.49%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.80.730.650.58Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 20, 2025: actual 0.73, estimate 0.62, surprise +17.74%, Beat. Q2 2025, reported May 8, 2025: actual 0.7, estimate 0.622, surprise +12.54%, Beat. Q3 2025, reported Aug 7, 2025: actual 0.71, estimate 0.63, surprise +12.70%, Beat. Q4 2025, reported Nov 6, 2025: actual 0.74, estimate 0.648, surprise +14.20%, Beat. Q1 2026, reported Feb 19, 2026: actual 0.68, estimate 0.66, surprise +3.03%, Beat. Q2 2026, reported May 7, 2026: actual 0.76, estimate 0.71, surprise +7.04%, Beat. Q3 2026, reported Aug 6, 2026: actual 0.75, estimate 0.739, surprise +1.49%, Beat. Q4 2026, reported Nov 5, 2026: actual —, estimate 0.73, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates669.34M644.28M619.22M594.16MQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 20, 2025: actual 643.6M USD, estimate 638.61M USD, surprise +0.78%, Beat. Q2 2025, reported May 8, 2025: actual 624.7M USD, estimate 620.06M USD, surprise +0.75%, Beat. Q3 2025, reported Aug 7, 2025: actual 625.7M USD, estimate 619.91M USD, surprise +0.93%, Beat. Q4 2025, reported Nov 6, 2025: actual 634.4M USD, estimate 623.99M USD, surprise +1.67%, Beat. Q1 2026, reported Feb 19, 2026: actual 636.2M USD, estimate 628.9M USD, surprise +1.16%, Beat. Q2 2026, reported May 7, 2026: actual 629.5M USD, estimate 620.56M USD, surprise +1.44%, Beat. Q3 2026, reported Aug 6, 2026: actual 631.5M USD, estimate 626.69M USD, surprise +0.77%, Beat. Q4 2026, reported Nov 5, 2026: actual —, estimate 629.72M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$26.83

22.16% downside
Past 12 months12-month forecastHigh $32.00Average $26.83Low $20.00

Rating distribution

16 ratings
Strong buy00%
Buy638%
Hold638%
Sell425%
Strong sell00%

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ETFs holding DBX

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Core S&P Mid-Cap ETF logoiShares Core S&P Mid-Cap ETFIJH
Market value
172.82M
Weight
0.13%
AUM
125.92B USD
Expense ratio
0.05%
Price / 1D
$76.77+0.52%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
147.4M
Weight
0.01%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
Vanguard Information Technology ETF logoVanguard Information Technology ETFVGT
Market value
126.16M
Weight
0.08%
AUM
160.2B USD
Expense ratio
0.09%
Price / 1D
$118.42+0.05%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
106.53M
Weight
0.06%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
Vanguard Morningstar Small-Cap Growth ETF logoVanguard Morningstar Small-Cap Growth ETFVBK
Market value
61.92M
Weight
0.14%
AUM
43.8B USD
Expense ratio
0.05%
Price / 1D
$358.65+0.70%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
56.17M
Weight
0.06%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
Pacer US Small Cap Cash Cows ETF logoPacer US Small Cap Cash Cows ETFCALF
Market value
44.77M
Weight
1.13%
AUM
3.89B USD
Expense ratio
0.59%
Price / 1D
$57.80+0.87%
State Street SPDR S&P MIDCAP 400 ETF Trust logoState Street SPDR S&P MIDCAP 400 ETF TrustMDY
Market value
37.29M
Weight
0.14%
AUM
26.72B USD
Expense ratio
0.23%
Price / 1D
$699.6+0.48%

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