Dropbox, Inc. (DBX)

NASDAQ: DBX · Real-Time Price · USD

30.54

+1.35 (4.62%)

At close: Jul 27, 2026, 4:00 PM EDT

30.54

0.00 (0.01%)

After-hours: Jul 27, 2026, 7:54 PM EDT

Dropbox Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	2,526	2,521	2,548	2,502	2,325	2,158
Revenue Growth	-0.62%	-1.07%	1.86%	7.60%	7.74%	12.75%
Gross Profit	2,014	2,020	2,103	2,023	1,881	1,714
Operating Income	676.8	689.1	486.2	538.7	181.3	274.4
Net Income	472.6	508.4	452.3	453.6	553.2	335.8
Earnings Per Share	1.83	1.86	1.40	1.31	1.52	0.85
EPS Growth	19.61%	32.86%	6.87%	-13.82%	78.82%	-

Revenue by Geography

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
United States	1,417	1,421	1,449	1,419	1,264	1,130
International	1,046	1,100	1,100	1,082	1,061	1,028
Revenue (Total)	2,526	2,521	2,548	2,502	2,325	2,158

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	1,289	1,038	1,594	1,356	1,343	1,718
Total Debt	4,009	3,587	2,997	2,031	2,295	2,369
Net Cash (Debt)	-2,720	-2,549	-1,402	-674.6	-951.2	-650.6
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-10.53	-9.34	-4.34	-1.95	-2.62	-1.64

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	1,003	951.8	894.1	783.7	797.3	729.8
Capital Expenditures	-22.1	-21	-22.5	-24.3	-33.8	-22.1
Free Cash Flow	980.4	930.8	871.6	759.4	763.5	707.7
Free Cash Flow Growth	14.13%	6.79%	14.77%	-0.54%	7.89%	44.22%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	79.72%	80.13%	82.53%	80.87%	80.89%	79.42%
Operating Margin	26.80%	27.33%	19.08%	21.53%	7.80%	12.72%
Pretax Margin	23.34%	24.50%	20.01%	22.16%	8.29%	13.87%
Profit Margin	18.71%	20.17%	17.75%	18.13%	23.79%	15.56%
FCF Margin	38.82%	36.92%	34.20%	30.36%	32.84%	32.80%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul '26 Jul 28, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	16.76	14.95	21.46	22.50	14.72	28.87
Forward PE	9.78	9.45	11.80	14.61	13.34	16.17
P/FCF Ratio	7.27	7.25	10.20	13.07	10.24	13.02
PS Ratio	2.82	2.68	3.49	3.97	3.36	4.27