Dropbox, Inc.: stock overview

DBXNASDAQTechnology · Services-Prepackaged Software

Price

$33.53

November 13, 2026Market cap $9.0B

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The full history: 10 fiscal years, from 2016
The estimated fair value, with its range and its certainty
The full analysis, 18 a month
More questions to the chat on its filings
Excel with every year
An email when it reports, changes its dividend or an officer buys

Notes on these figures

Earnings per share here are the last twelve months' earnings over today's shares, so they agree with the P/E. The number of shares changed a lot during the year, so they differ from the earnings per share the company filed, which use the year's average number of shares.

In short

Dropbox had revenue of $2.5B over the last 12 months and net income of $435M, a net margin of 17.2%. Revenue grew by 5.7% a year on average over the last 5 years. At $33.53 the shares trade at a P/E of 20.7, against a median of 21.5 over the last 5 fiscal years. It holds more cash than debt, by $171M. It pays no dividend.

From its SEC filings (latest fiscal year to December 31, 2025) and the price of November 13, 2026.

Its SEC filings

Market cap: $9.0B; 268M shares
P/E: 20.7; Today20.7
Median21.5
Revenue, 12 months: $2.5B; +5.7% a year over 5 years
Net margin: 17.2%; 2025: 20.2%, above 87% of its industry

Worth knowing

What a holder would want to hear from the company's SEC filings of the last three years. Each with its filing, without comment.

3 fiscal years in figures

Each fiscal year's figures as the company filed them, and the share price at its end.

2023–2025 fiscal years

+0.4% a year over 2 years

202510-K
Revenue$2.5B
202410-K
Revenue$2.5B
202310-K
Revenue$2.5B

Year	Revenue	Net income	EPS	Free cash flow	Dividend per share	Price
202510-K	$2.5B	$508M	$1.86	$931M	–	$27.80
202410-K	$2.5B	$452M	$1.40	$872M	–	$30.04
202310-K	$2.5B	$454M	$1.31	$759M	–	$29.48

Fiscal years in figures

DBX's revenue, profit, cash flow and dividend with each year-end price, from 2016 to 2022, 7 more fiscal years

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Key figures

The company's current figures in five groups. Each term is explained behind its ⓘ.

Valuation

Market cap 3-year median: $9.6B: $9.0B
Enterprise value: $8.8B
P/E 3-year median: 21.5: 20.7
EV / EBIT: 13.1
EV / Revenue: 3.5
P/B: –
FCF yield 3-year median: 9.1%: 10.2%
Earnings yield 3-year median: 4.7%: 4.8%

Profitability

Gross margin: 79.9%
Operating margin: 26.6%
Net margin 3-year median: 18.1%: 17.2%
ROIC: –
ROIC, 5-year average: 32.4%
ROE: –

Growth

Revenue, yearly change: -1.1%
EPS, yearly change: +32.9%
FCF, yearly change: +6.8%
Revenue, average a year: +5.7%

The yearly change compares FY2025 with FY2024.

Balance sheet

Cash: $1.1B
Total debt: $1.3B
Of which operating leases: $377M
Net cash: $171M
Net debt / EBITDA: -0.2x
Interest cover: –
Current ratio: 1.07

Balance sheet of September 30, 2026.

Returns to shareholders

Dividend yield: 0.00%
Buybacks: 19.05%
Total returned: 19.05%
Shares, yearly change: -15.7%

Valuation against its own pastEach fiscal year's P/E, P/FCF and P/B beside today's, and the DCF calculator for the company.Valuation

Against its industry

Where its margins and returns stood in fiscal 2025 among the SEC filers of its industry (SIC code 73).

Gross margin

80.1%

Above 88% of the 293 companies in its industry, and 96% of all.

Operating margin

27.3%

Above 92% of the 462 companies in its industry, and 90% of all.

Net margin

20.2%

Above 87% of the 473 companies in its industry, and 82% of all.

ROA

17.9%

Above 94% of the 462 companies in its industry, and 96% of all.

Revenue growth

-1.1%

Above 20% of the 461 companies in its industry, and 26% of all.

From the yearly figures every company files with the SEC, for those with revenue of at least $25 million. The industry is the first two digits of the SIC code.

The company at the SEC

How it is registered and when its fiscal year ends.

Name at the SEC: DROPBOX, INC.
CIK: 1467623
Exchange: NASDAQ
Industry (SIC): 7372 · Services-Prepackaged Software
Fiscal year ends: December 31
Latest annual report: December 31, 2025
Reporting currency: USD
Shares: 268M

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The full analysis

What do Dropbox's filings show?

These are Dropbox's figures. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

A fair value range built from the filings
Earnings quality, debt and red flags
Insider and institutional moves
The case for and the case against

Questions about DBX

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What is DBX's market cap?

Dropbox, Inc.'s market cap is $9.0B, at a price of $33.53 on November 13, 2026 and 268M shares.

What is DBX's P/E?

DBX's P/E is 20.7, on earnings per share of $1.62 over the last 12 months. The median over the last 5 fiscal years was 21.5.

How much revenue does DBX have?

Dropbox had revenue of $2.5B over the last 12 months. Over the last 5 years it changed by +5.7% a year on average.

Does DBX pay a dividend?

No. Dropbox paid no regular dividend over the last 12 months.

Where do the figures come from?

From Dropbox, Inc.'s SEC filings (10-K and 10-Q) and the share price. They hold no analyst estimates and no score, and they are not a recommendation.

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.