Dropbox, Inc. (DBX) vs Netskope Inc. (NTSK)

Dropbox, Inc. and Netskope Inc. are both Software Infrastructure companies. Dropbox, Inc. and Netskope Inc. are of similar size ($7.6B and $7.1B). Netskope Inc. has negative trailing earnings, so its P/E is not meaningful; Dropbox, Inc. trades at 17.7×. Dropbox, Inc. has the higher net margin (17.5% vs −91.8%) and the higher return on invested capital (271.8% vs 0.00%). Across the 15 metrics below, Dropbox, Inc. leads on 12 and Netskope Inc. on 3.

Valuation

Metric DBX NTSK Software Infrastructure median
P/E 17.72 n/m 28.02
P/S 2.86 8.92 3.07
P/B n/m 45.65 3.36
Price to free cash flow 7.60 n/m 17.12
EV/EBITDA 11.06 n/m 14.91
EV/Sales 3.79 8.46 3.03
Earnings yield 5.64% (14.43%) 0.13%
Free cash flow yield 13.16% (1.04%) 1.15%

Profitability

Metric DBX NTSK Software Infrastructure median
Gross margin 79.72% 69.92% 61.23%
Operating margin 26.64% (94.66%) 0.00%
Net margin 17.49% (91.84%) 0.00%
Free cash flow margin 37.68% (9.31%) 1.67%
Return on equity (25.35%) 106.88% 0.59%
Return on assets 15.80% (86.11%) 0.00%
Return on invested capital 271.80% 0.00% 0.00%

Growth

Metric DBX NTSK Software Infrastructure median
Revenue growth (TTM) (0.05%) — 13.41%
EPS growth (last fiscal year) 32.86% 12.64% —
Revenue growth, 5-year CAGR 5.66% — 15.81%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric DBX NTSK Software Infrastructure median
Debt to equity (1.58) 4.45 0.06
Current ratio 1.07 2.01 1.55
Net debt to EBITDA 2.26 0.79 0.08

Dividend

Metric DBX NTSK Software Infrastructure median
Dividend yield 0.05% — 1.53%
Payout ratio 0.00 — 0.00

Size

Metric DBX NTSK Software Infrastructure median
Market cap 7.10b 7.60b 835.96m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack