Dropbox, Inc. (DBX) vs SentinelOne, Inc. (S)

Dropbox, Inc. and SentinelOne, Inc. are both Software Infrastructure companies. Dropbox, Inc. and SentinelOne, Inc. are of similar size ($7.8B and $7.5B). SentinelOne, Inc. has negative trailing earnings, so its P/E is not meaningful; Dropbox, Inc. trades at 19.7×. SentinelOne, Inc. grew revenue faster over the last twelve months: 21.1% against −0.05%. Dropbox, Inc. has the higher net margin (17.5% vs −31.0%) and the higher return on invested capital (271.8% vs −25.5%). Across the 18 metrics below, Dropbox, Inc. leads on 14 and SentinelOne, Inc. on 4.

Valuation

Metric DBX S Software Infrastructure median
P/E 19.66 n/m 24.43
P/S 3.18 6.71 2.81
P/B n/m 5.09 2.88
Price to free cash flow 8.43 238.85 17.94
EV/EBITDA 11.98 n/m 14.51
EV/Sales 4.10 6.13 2.91
Earnings yield 5.09% (4.68%) 0.00%
Free cash flow yield 11.86% 0.42% 0.49%

Profitability

Metric DBX S Software Infrastructure median
Gross margin 79.72% 72.54% 57.45%
Operating margin 26.64% (29.46%) 0.00%
Net margin 17.49% (30.95%) 0.00%
Free cash flow margin 37.68% 2.81% 0.00%
Return on equity (25.35%) (23.01%) 0.00%
Return on assets 15.80% (14.37%) 0.00%
Return on invested capital 271.80% (25.50%) 0.00%

Growth

Metric DBX S Software Infrastructure median
Revenue growth (TTM) (0.05%) 21.09% 14.28%
EPS growth (last fiscal year) 32.86% (48.91%) 18.26%
Revenue growth, 5-year CAGR 5.66% 60.83% 16.15%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric DBX S Software Infrastructure median
Debt to equity (1.58) 0.00 0.02
Current ratio 1.07 1.45 1.53
Net debt to EBITDA 2.26 3.34 0.05

Dividend

Metric DBX S Software Infrastructure median
Dividend yield — — 1.06%
Payout ratio — — 0.29

Size

Metric DBX S Software Infrastructure median
Market cap 7.78b 7.46b 661.51m

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