Dropbox, Inc. (DBX)

Dropbox Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	435.1	508.4	452.3	453.6	553.2	335.8
Depreciation & Amortization	151.5	157.4	137.3	170	157.1	151.4
Other Amortization	38.8	35.9	34.9	42.8	43.7	36.1
Loss (Gain) From Sale of Assets	-	-	-	-	-	17.7
Asset Writedown & Restructuring Costs	-3.9	-1.3	0.1	-155.2	175.2	-
Loss (Gain) From Sale of Investments	-0.5	-0.7	0.2	-	-5	-
Stock-Based Compensation	302.8	300.8	346.5	338	330.7	287.1
Other Operating Activities	57.8	42.1	19.4	53.2	-333.3	2.4
Change in Accounts Receivable	-2.2	-6.7	-2.4	-14.5	-5.5	-6.2
Change in Accounts Payable	-0.5	-12.6	-4.5	1.2	13	7.6
Change in Unearned Revenue	-3	2	1.5	21.6	25.6	59.8
Change in Other Net Operating Assets	-38.3	-73.5	-91.2	-127	-157.4	-161.9
Operating Cash Flow	937.6	951.8	894.1	783.7	797.3	729.8
Operating Cash Flow Growth	0.80%	6.45%	14.09%	-1.71%	9.25%	27.86%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-22.4	-21	-22.5	-24.3	-33.8	-22.1
Cash Acquisitions	-	-13.1	-57.8	-	-75.4	-140
Sale (Purchase) of Intangibles	-3.3	-0.4	-0.2	-0.3	-1.1	-6.8
Investment in Securities	160.1	126.5	493.1	395.9	42.2	-396.1
Other Investing Activities	15.9	19.9	31.2	23.9	19.6	40.2
Investing Cash Flow	150.3	111.9	443.8	395.2	-48.5	-524.8

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	500	1,000	-	-	1,389
Long-Term Debt Repaid	-	-140.2	-129.4	-126.6	-127.5	-110.4
Net Debt Issued (Repaid)	689.3	359.8	870.6	-126.6	-127.5	1,279
Issuance of Common Stock	-	0.1	0.9	2.5	0.5	6.9
Repurchase of Common Stock	-1,403	-1,865	-1,390	-675	-914.8	-1,183
Other Financing Activities	-25.2	-25.7	-67.8	-0.1	-	-86.1
Financing Cash Flow	-738.6	-1,531	-586.6	-799.2	-1,042	16.2

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-1	12.4	-5.7	2.4	-7.2	-3.1
Net Cash Flow	348.3	-454.6	745.6	382.1	-300.2	218.1

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	915.2	930.8	871.6	759.4	763.5	707.7
Free Cash Flow Growth	-0.13%	6.79%	14.77%	-0.54%	7.89%	44.22%
Free Cash Flow Margin	36.11%	36.92%	34.21%	30.36%	32.84%	32.80%
Free Cash Flow Per Share	3.88	3.41	2.69	2.20	1.71	1.79
Levered Free Cash Flow	763.43	799.94	814.85	781.85	732.66	681.68
Unlevered Free Cash Flow	870.73	861.69	825.94	787.15	736.21	685.81

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	105.9	105.9	15.2	10.5	8.2	8.5
Cash Income Tax Paid	56.9	56.9	61	68.2	27.6	4.2
Change in Working Capital	-44	-90.8	-96.6	-118.7	-124.3	-100.7

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Nov 5, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 8, 2026

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