DBX Stock Analysis: Dropbox | NASDAQ
Software - Infrastructure | NASDAQ, USA | Market Cap: 6.663m USD | 12M Return: 6.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 105M
EPS Trend: 95.0%
Qual. Beats: 1
Rev. Trend: 66.1%
Qual. Beats: 6
Warnings
Tailwinds
Seasonality 8.3 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Dropbox, Inc. (NASDAQ: DBX) is a U.S.-based software company that operates a cloud-based content collaboration platform serving individuals, families, teams, and organizations across multiple international markets. The company follows a freemium business model, offering free access through its website and apps while generating revenue through paid subscription plans that unlock premium features and expanded storage. Its platform is built around a unified content hub, a global sharing network, and integrations with other productivity tools, positioning the company within the broader cloud software and SaaS (Software-as-a-Service) segment of the Information Technology sector. Headquartered in San Francisco and incorporated in 2007 (originally as Evenflow, Inc.), Dropbox went public in March 2018 and currently trades as a mid-cap stock with a market capitalization of roughly $6 billion.
- Paying subscribers decline amid competition from OneDrive and Google Drive
- Operating margins expand to record levels on cost discipline
- Share buyback program accelerates capital returns to investors
| Net Income: 472.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.30 > 0.02 and ΔFCF/TA -1.21 > 1.0 |
| NWC/Revenue: 10.80% < 20% (prev -19.76%; Δ 30.56% < -1%) |
| CFO/TA 0.33 > 3% & CFO 1.00b > Net Income 472.6m |
| Net Debt (3.43b) to EBITDA (871.8m): 3.93 < 3 |
| Current Ratio: 1.23 > 1.5 & < 3 |
| Outstanding Shares: last quarter (236.7m) vs 12m ago -19.95% < -2% |
| Gross Margin: 79.73% > 18% (prev 82.06%; Δ -2.33% > 0.5%) |
| Asset Turnover: 84.36% > 50% (prev 85.94%; Δ -1.58% > 0%) |
| Interest Coverage Ratio: 5.41 > 6 (EBIT TTM 713.5m / Interest Expense TTM 131.8m) |
| A: 0.09 (Total Current Assets 1.45b - Total Current Liabilities 1.18b) / Total Assets 3.03b |
| B: -1.29 (Retained Earnings -3.92b / Total Assets 3.03b) |
| C: 0.24 (EBIT TTM 713.5m / Avg Total Assets 2.99b) |
| D: -0.40 (Book Value of Equity -2.01b / Total Liabilities 5.04b) |
| Altman-Z'' = -2.45 = D |
| DSRI: 1.05 (Receivables 74.7m/71.6m, Revenue 2.53b/2.54b) |
| GMI: 1.03 (GM 82.06% / 79.73%) |
| AQI: 0.87 (AQ_t 0.32 / AQ_t-1 0.36) |
| SGI: 0.99 (Revenue 2.53b / 2.54b) |
| TATA: -0.17 (NI 472.6m - CFO 1.00b) / TA 3.03b) |
| Beneish M = -3.06 (Cap -4..+1) = AA |
As of July 10, 2026, the stock is trading at USD 29.41 with a total of 2,165,332 shares traded. Over the past week, the price has changed by +3.52%, over one month by +7.22%, over three months by +32.30% and over the past year by +6.25%.
Current recommended Stop Loss: 27.40 (which is 6.8% or 2.2 ATR below the current price).
Dropbox has received a consensus analysts rating of 2.83. Therefore, it is recommended to hold DBX.
- StrongBuy: 0
- Buy: 1
- Hold: 8
- Sell: 3
- StrongSell: 0
| Analysts Target Price | 26.2 | -11% |
P/E Trailing = 15.6066
P/E Forward = 9.4697
P/S = 2.638
P/B = 29.8101
P/EG = 13.5286
Revenue TTM = 2.53b USD
EBIT TTM = 713.5m USD
EBITDA TTM = 871.8m USD
Long Term Debt = 3.27b USD (from longTermDebt, last quarter)
Short Term Debt = 212.1m USD (from shortTermDebt, last quarter)
Debt = 4.72b USD (from shortLongTermDebtTotal, last quarter) + Leases 706.6m
Net Debt = 3.43b USD (calculated: Debt 4.72b - CCE 1.29b)
Enterprise Value = 10.1b USD (6.66b + Debt 4.72b - CCE 1.29b)
Interest Coverage Ratio = 5.41 (Ebit TTM 713.5m / Interest Expense TTM 131.8m)
EV/FCF = 10.93x (Enterprise Value 10.1b / FCF TTM 922.7m)
FCF Yield = 9.15% (FCF TTM 922.7m / Enterprise Value 10.1b)
FCF Margin = 36.53% (FCF TTM 922.7m / Revenue TTM 2.53b)
Net Margin = 18.71% (Net Income TTM 472.6m / Revenue TTM 2.53b)
Gross Margin = 79.73% ((Revenue TTM 2.53b - Cost of Revenue TTM 512.1m) / Revenue TTM)
Gross Margin QoQ = 79.65% (prev 79.24%)
Tobins Q-Ratio = 3.33 (Enterprise Value 10.1b / Total Assets 3.03b)
Interest Expense / Debt = 2.80% (Interest Expense 131.8m / Debt 4.72b)
Taxrate = 19.83% (116.9m / 589.5m)
NOPAT = 572.0m (EBIT 713.5m * (1 - 19.83%))
Current Ratio = 1.20 (Total Current Assets 1.45b / Total Current Liabilities 1.21b)
Debt / Equity = -2.34 (negative equity) (Debt 4.72b / totalStockholderEquity, last quarter -2.01b)
Debt / EBITDA = 3.93 (Net Debt 3.43b / EBITDA 871.8m)
Debt / FCF = 3.71 (Net Debt 3.43b / FCF TTM 922.7m)
Total Stockholder Equity = -1.66b (last 4 quarters mean from totalStockholderEquity)
RoA = 15.78% (Net Income 472.6m / Total Assets 3.03b)
RoE = -28.45% (negative equity) (Net Income TTM 472.6m / Total Stockholder Equity -1.66b)
RoCE = 44.22% (EBIT 713.5m / Capital Employed (Equity -1.66b + L.T.Debt 3.27b))
RoIC = 29.47% (NOPAT 572.0m / Invested Capital 1.94b)
WACC = 6.28% (E(6.66b)/V(11.4b) * Re(9.13%) + D(4.72b)/V(11.4b) * Rd(2.80%) * (1-Tc(0.20)))
Discount Rate = 9.13% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -91.11 | Cagr: -15.48%
[DCF] Terminal Value 75.25% ; FCFF base≈928.0m ; Y1≈920.8m ; Y5≈952.4m
[DCF] Fair Price = 72.29 (EV 14.9b - Net Debt 3.43b = Equity 11.4b / Shares 158.0m; r=8.35% [WACC [floored]]; 5y FCF grow -1.42% → 2.50% )
EPS Correlation: 95.02 | EPS CAGR: 16.46% | SUE: 2.14 | # QB: 1
Revenue Correlation: 66.06 | Revenue CAGR: 1.08% | SUE: 2.84 | # QB: 6
EPS current Quarter (2026-06-30): EPS=0.74 | Chg30d=+0.00% | Revisions=-12% | Analysts=7
EPS next Quarter (2026-09-30): EPS=0.78 | Chg30d=+0.00% | Revisions=+38% | Analysts=6
EPS current Year (2026-12-31): EPS=3.07 | Chg30d=+0.00% | Revisions=+50% | GrowthEPS=+8.0% | GrowthRev=-0.5%
EPS next Year (2027-12-31): EPS=3.41 | Chg30d=+0.00% | Revisions=+67% | GrowthEPS=+11.1% | GrowthRev=-0.5%
[Analyst] Revisions Ratio: +50% (up=18, down=5)