Zacks Investment Research·Jun 25, 2026
Why Dropbox (DBX) Dipped More Than Broader Market TodayDropbox (DBX) concluded the recent trading session at $25.08, signifying a -4.75% move from its prior day's close.
Dropbox, Inc.(DBX)Earnings, Financials & Key Ratios
DBX•NASDAQ
$28.85
15.5× P/E·Price updated Jul 7, 2026
AboutDropbox, Inc. provides a content collaboration platform worldwide. Its platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. As of December 31, 2021, the company had approximately 700 million registered users. It serves customers in 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.Show more
- Revenue$2.52B-1.1%
- EBITDA$849M+36.2%
- Net Income$508M+12.4%
- EPS (Diluted)1.86+32.9%
- Gross Margin80.13%-2.9%
- EBITDA Margin33.68%+37.6%
- Operating Margin27.43%+43.8%
- Net Margin20.17%+13.6%
DBX Price & Volume
Dropbox, Inc. (DBX) stock price & volume — 10-year historical chart
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Cash Harvesting Strategy Masks Structural Equity Erosion
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Decelerating
Profitability:Strong
Financial:Vulnerable
Cash Flow:Robust
Primary Risk:Negative equity and leverage
Key Thesis Takeaways
- Dropbox has transitioned into a mature cash-harvesting entity, prioritizing aggressive share repurchases over top-line growth, which has stagnated at -1.07% year-over-year.
- While the company maintains robust free cash flow margins often exceeding 35%, the reliance on debt-funded buybacks has resulted in a deteriorating equity position of -$2.0 billion as of 2026Q1.
- Investors should monitor whether this capital allocation strategy remains sustainable given the intensifying competitive pressure from OS-level incumbents and the tightening current ratio of 0.62.
Verdict Logic
while the stock trades at a low forward P/E of 8.62, the combination of negative revenue growth and a deteriorating balance sheet with a 0.62 current ratio warrants significant caution.
DBX Growth Metrics
Dropbox, Inc. (DBX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years15.36%
5 Years5.66%
3 Years2.74%
TTM-0.62%
Profit CAGR
10 Years-
5 Years-
3 Years-2.78%
TTM0.49%
EPS CAGR
10 Years-
5 Years-
3 Years6.96%
TTM19.61%
Return on Capital
10 Years-6.76%
5 Years24.95%
3 Years32.73%
Last Year44.08%
DBX Recent Earnings
Dropbox, Inc. (DBX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 12/12 qtrs (100%)
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$0.76+7.0%
$0.71
Rev
$630M+1.4%
$621M
Q1 2026
Feb 19, 2026Metric
Actual
Est
EPS
$0.68+3.0%
$0.66
Rev
$636M+1.2%
$629M
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.74+14.2%
$0.65
Rev
$634M+1.7%
$624M
Q3 2025
Aug 7, 2025Metric
Actual
Est
EPS
$0.71+12.7%
$0.63
Rev
$626M+0.9%
$620M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $0.76vs $0.71+7.0% | $630Mvs $621M+1.4% |
| Q1 2026 | Feb 19, 2026 | $0.68vs $0.66+3.0% | $636Mvs $629M+1.2% |
| Q4 2025 | Nov 6, 2025 | $0.74vs $0.65+14.2% | $634Mvs $624M+1.7% |
| Q3 2025 | Aug 7, 2025 | $0.71vs $0.63+12.7% | $626Mvs $620M+0.9% |
Based on last 12 quarters of dataView full earnings history →
Latest DBX News
Recent stock market news and headlines for Dropbox, Inc. (DBX)
Zacks Investment Research·Jun 24, 2026
Why Dropbox (DBX) is a Top Value Stock for the Long-TermWondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.
Zacks Investment Research·Jun 22, 2026
Why Investors Need to Take Advantage of These 2 Computer and Technology Stocks NowFinding stocks expected to beat quarterly earnings estimates becomes an easier task with our Zacks Earnings ESP.
Zacks Investment Research·Jun 19, 2026
Should Value Investors Buy Dropbox (DBX) Stock?Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Zacks Investment Research·Jun 18, 2026
Here's Why Dropbox (DBX) is a Strong Growth StockWondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.
Peers Comparison
Key metrics vs top competitors for Dropbox, Inc. (DBX)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $28.85 | $7.34B | 15.51 | -1.07% | 20.17% | — | — | |
| $28.85 | $4B | 48.90 | 7.99% | 9.18% | 150.65% | — | |
| $137.12 | $14.31B | 54.41 | 15.48% | 26.8% | 165.69% | — | |
| $388.84 | $2.89T | 28.51 | 14.93% | 39.34% | 33.13% | — | |
| $367.03 | $4.44T | 33.95 | 15.13% | 37.91% | 38.98% | — | |
| $310.66 | $4.56T | 41.64 | 6.43% | 27.15% | 146.69% | — |
Compare DBX vs Peers
Dropbox, Inc. (DBX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
DBX SEC Filings & Documents
Dropbox, Inc. (DBX) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 7, 2026·SEC
Material company update
Feb 19, 2026·SEC
Material company update
Dec 10, 2025·SEC
10-K Annual Reports
210-Q Quarterly Reports
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DBX Frequently Asked Questions
Dropbox, Inc. (DBX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Dropbox, Inc.'s revenue?
Dropbox, Inc. (DBX) reported $2.53B in revenue for fiscal year 2025. This represents a 318% increase from $603.8M in 2015.
How fast is Dropbox, Inc. growing?
Dropbox, Inc. (DBX) saw revenue decline by 1.1% over the past year.
Is DBX profitable?
Yes, Dropbox, Inc. (DBX) is profitable, generating $472.6M in net income for fiscal year 2025 (20.2% net margin).
Dividend & Returns
What is Dropbox, Inc.'s free cash flow?
Dropbox, Inc. (DBX) generated $980.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.