Dropbox, Inc. (DBX) vs Amdocs Limited (DOX)

Dropbox, Inc. and Amdocs Limited are both Software Infrastructure companies. Dropbox, Inc. is the larger, with a market value of $7.1B against $6.2B — 1.1× the size. Amdocs Limited trades at the lower P/E: 13.7× against 17.7×. Amdocs Limited grew revenue faster over the last twelve months: 0.14% against −0.05%. Dropbox, Inc. has the higher net margin (17.5% vs 9.56%) and the higher return on invested capital (271.8% vs 9.39%). Both pay a dividend; Amdocs Limited yields more (1.98% vs 0.05%). Across the 22 metrics below, Dropbox, Inc. leads on 12 and Amdocs Limited on 10.

Valuation

Metric DBX DOX Software Infrastructure median
P/E 17.72 13.67 28.02
P/S 2.86 1.28 3.07
P/B n/m 1.79 3.36
Price to free cash flow 7.60 9.34 17.12
EV/EBITDA 11.06 8.17 14.91
EV/Sales 3.79 1.46 3.03
Earnings yield 5.64% 7.32% 0.13%
Free cash flow yield 13.16% 10.71% 1.15%

Profitability

Metric DBX DOX Software Infrastructure median
Gross margin 79.72% 38.28% 61.23%
Operating margin 26.64% 13.47% 0.00%
Net margin 17.49% 9.56% 0.00%
Free cash flow margin 37.68% 13.73% 1.67%
Return on equity (25.35%) 12.95% 0.59%
Return on assets 15.80% 6.98% 0.00%
Return on invested capital 271.80% 9.39% 0.00%

Growth

Metric DBX DOX Software Infrastructure median
Revenue growth (TTM) (0.05%) 0.14% 13.41%
EPS growth (last fiscal year) 32.86% 18.82% —
Revenue growth, 5-year CAGR 5.66% 1.69% 15.81%
Net income growth, 5-year CAGR 0.00% 2.32% 0.00%

Health

Metric DBX DOX Software Infrastructure median
Debt to equity (1.58) 0.32 0.06
Current ratio 1.07 0.94 1.55
Net debt to EBITDA 2.26 0.50 0.08

Dividend

Metric DBX DOX Software Infrastructure median
Dividend yield 0.05% 1.98% 1.53%
Payout ratio 0.00 0.36 0.00

Size

Metric DBX DOX Software Infrastructure median
Market cap 7.10b 6.22b 835.96m

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