Saturday 17 October 2026
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Dropbox, Inc.
DBX Technology Software Infrastructure
Dropbox, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, down 1.07% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS fell 6.52%, free cash flow fell 10.3% and total debt rose 35.3%, each against the same quarter a year earlier.
35.57
0.97
−2.65%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
7 | 6 | 6 | 7 | 8 | 3 | 5 | 5 | — | — |
P/E ratio |
14.79 | 21.15 | 21.49 | 14.63 | 27.89 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z-Score |
0.48 | 1.52 | 2.19 | 1.22 | 1.70 | 1.86 | 2.06 | 3.07 | — | — |
P/S ratio |
2.96 | 3.75 | 3.93 | 3.52 | 4.41 | 4.80 | 4.44 | 5.26 | 5.04 | 5.04 |
P/FCF ratio |
8.02 | 10.97 | 13.08 | 10.87 | 13.68 | 18.92 | 19.01 | 20.41 | 18.34 | 18.34 |
Altman Z″-Score (non-manufacturers) |
(4.77) | (1.26) | (1.15) | (1.99) | (0.95) | (3.29) | (1.28) | (3.01) | (5.40) | (5.64) |
Beneish M-Score |
(3.07) | (3.15) | (2.82) | (2.60) | (3.21) | (4.06) | (2.06) | (5.09) | (3.70) | — |
P/Operating CF |
31.69 | 44.71 | 49.06 | 42.10 | 58.52 | 53.86 | 39.46 | 59.23 | 78.47 | 78.47 |
P/B ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 27.54 | 9.12 | 10.82 | 0.00 | 0.00 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 145.00 | 14.00 | 12.95 | 0.00 | 0.00 |
EV/Sales |
3.75 | 4.13 | 4.08 | 3.68 | 4.42 | 4.41 | 3.92 | 4.55 | 4.72 | 4.72 |
EV/EBITDA |
10.72 | 15.98 | 13.57 | 22.40 | 20.65 | 0.00 | 58.58 | 0.00 | 69.89 | 69.89 |
EV/Operating CF |
9.93 | 11.77 | 13.01 | 10.73 | 13.07 | 14.77 | 12.31 | 14.87 | 15.81 | 15.81 |
EV/FCF |
10.16 | 12.08 | 13.58 | 11.36 | 13.71 | 17.36 | 16.79 | 17.63 | 17.16 | 17.16 |
Quick Ratio |
0.59 | 1.37 | 1.19 | 1.17 | 1.50 | 1.07 | 1.18 | 1.33 | 0.62 | 0.58 |
Current Ratio |
0.63 | 1.44 | 1.26 | 1.25 | 1.57 | 1.13 | 1.23 | 1.45 | 0.70 | 0.65 |
Net Debt/EBITDA |
2.26 | 1.46 | 0.25 | 0.96 | 0.04 | 8.22 | (7.77) | 2.94 | (3.42) | (52.84) |
Debt/Assets |
106.70% | 76.93% | 51.83% | 54.97% | 56.19% | 15.06% | 10.94% | 9.67% | 17.12% | 25.65% |
Debt/Equity |
(1.69) | (3.40) | (9.33) | (5.53) | (5.91) | 1.08 | 0.37 | 0.24 | 1.70 | 2.10 |
Asset Turnover |
0.82 | 0.81 | 0.82 | 0.75 | 0.79 | 0.75 | 0.76 | 1.03 | 1.09 | 1.68 |
Operating CF/Net income |
1.87 | 1.98 | 1.73 | 1.44 | 2.17 | (2.23) | (10.03) | (0.88) | (2.96) | (1.20) |
Capex/Depreciation |
(0.11) | (0.13) | (0.12) | (0.17) | (0.15) | (0.44) | (0.72) | (0.37) | (0.14) | (0.63) |
Interest Coverage |
8.77 | (34.98) | (27.77) | (54.94) | 52.77 | 162.94 | 6.44 | (70.57) | (10.34) | (11.80) |
| (39.88%) | (98.52%) | (190.91%) | (183.39%) | 1,683.20% | (44.88%) | (7.10%) | (589.90%) | 22.23% | 41.85% | |
| 16.48% | 14.34% | 14.89% | 17.84% | 12.26% | (10.08%) | (2.40%) | (35.73%) | (11.04%) | (41.86%) | |
ROIC |
215.24% | 143.74% | 1,374.23% | 199.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | (436.60%) |
Return on Tangible Assets |
(156.62%) | 51.03% | 72.66% | 91.94% | 33.71% | (53.57%) | (7.82%) | (70.96%) | (91.86%) | (94.64%) |
Average Days of Receivables |
11.45 | 10.08 | 10.02 | 8.45 | 8.39 | 8.28 | 8.06 | 7.50 | 9.66 | 5.70 |
Research and Development Expense of Revenue |
29.04% | 35.90% | 37.44% | 38.36% | 35.03% | 38.01% | 39.85% | 55.20% | 34.36% | 34.29% |
Selling, General and Administrative Expense of Revenue |
23.82% | 27.54% | 28.11% | 27.20% | 30.22% | 33.99% | 40.25% | 51.94% | 42.58% | 42.38% |
Intangible Assets out of Total Assets |
0.17 | 0.15 | 0.15 | 0.16 | 0.13 | 0.11 | 0.10 | 0.07 | 0.11 | 0.12 |
Share Based Compensation of Revenue |
11.93% | 13.60% | 13.51% | 14.22% | 13.30% | 13.66% | 15.72% | 46.71% | 15.72% | 17.47% |
Graham Net Nets |
(0.46) | (0.24) | (0.17) | (0.24) | (0.16) | (0.09) | (0.09) | 0.03 | (0.07) | (0.07) |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5.79 | 0.00 |
Earnings Yield |
6.76% | 4.73% | 4.65% | 6.83% | 3.59% | (2.84%) | (0.73%) | (10.64%) | (2.00%) | (2.00%) |
Free Cash Flow Yield |
12.47% | 9.12% | 7.64% | 9.20% | 7.31% | 5.28% | 5.26% | 4.90% | 5.45% | 5.45% |
Revenue per Share |
9.40 | 8.01 | 7.33 | 6.44 | 5.56 | 4.62 | 4.04 | 3.88 | 5.65 | 4.47 |
Operating CF per Share |
3.55 | 2.81 | 2.30 | 2.21 | 1.88 | 1.38 | 1.28 | 1.19 | 1.69 | 1.34 |
Capex per Share |
(0.08) | (0.07) | (0.07) | (0.10) | (0.07) | (0.19) | (0.33) | (0.18) | (0.13) | (0.65) |
Free Cash Flow per Share |
3.47 | 2.74 | 2.22 | 2.11 | 1.81 | 1.18 | 0.95 | 1.00 | 1.55 | 0.68 |
Cash per Share |
3.87 | 5.01 | 3.97 | 3.72 | 4.43 | 2.71 | 2.82 | 3.04 | 2.20 | 1.87 |
Shareholders Equity per Share |
(6.70) | (2.36) | (0.49) | (0.86) | (0.76) | 0.81 | 1.96 | 1.89 | 0.53 | 0.65 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
(6.70) | (2.36) | (0.49) | (0.86) | (0.76) | 0.81 | 1.96 | 1.89 | 0.53 | 0.65 |
Free Cash Flow |
930.40 | 871.40 | 759.10 | 762.40 | 700.90 | 490.50 | 390.70 | 359.40 | 304.20 | 128.90 |
Working Capital |
(703.00) | 527.60 | 315.10 | 293.30 | 674.00 | 139.70 | 228.40 | 372.70 | (220.30) | (221.90) |
Capital Expenditures |
(21.40) | (22.70) | (24.60) | (34.90) | (28.90) | (80.30) | (137.80) | (66.00) | (26.10) | (123.70) |
Net Current Asset Value |
(3,451.60) | (2,339.20) | (1,632.70) | (1,929.70) | (1,535.40) | (825.90) | (647.60) | 192.90 | (398.90) | (468.00) |
EV/EBIT |
13.72 | 21.64 | 18.93 | 47.21 | 34.77 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.04 | 0.08 | 0.05 | 0.02 | 0.15 |
Price to Operating Income |
10.82 | 19.66 | 18.24 | 45.18 | 34.70 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.51 | 0.48 | 0.69 | 0.65 | 0.58 | 0.54 | 0.43 | 0.58 | 0.55 | 0.44 |
Cash ROIC |
40.87% | 25.63% | 27.74% | 27.79% | 22.17% | 27.03% | 17.27% | 18.62% | 43.00% | 17.58% |
Accounts Receivable Turnover |
33.73 | 36.64 | 40.84 | 44.97 | 46.41 | 47.79 | 50.88 | 48.07 | 52.08 | 35.05 |
Accounts Payable Turnover |
16.47 | 11.87 | 12.41 | 13.82 | 20.01 | 13.96 | 11.11 | 12.11 | 15.57 | 16.45 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
17.71 | 29.93 | 29.37 | 31.72 | 21.12 | 16.46 | 36.14 | 30.79 | 31.56 | 14.48 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
74.75 | 69.55 | 61.25 | 51.70 | 46.50 | 40.05 | 32.65 | 28.95 | 21.25 | 24.10 |
Average Payables |
30.40 | 37.50 | 38.55 | 32.15 | 22.20 | 29.70 | 37.00 | 32.60 | 23.70 | 23.75 |
Average Assets |
3,085.05 | 3,154.35 | 3,046.80 | 3,100.70 | 2,739.25 | 2,543.20 | 2,196.65 | 1,357.00 | 1,012.05 | 502.10 |
Average Common Equity |
(1,274.80) | (459.10) | (237.60) | (301.65) | 19.95 | 571.10 | 742.60 | 82.20 | (502.45) | (502.25) |
Columns are period end dates