DBX Stock Analysis: Dropbox | NASDAQ
Software - Infrastructure | NASDAQ, USA | Market Cap: 7.802m USD | 12M Return: 23.2% | US26210C1045 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 129M
EPS Trend: 91.4%
Qual. Beats: -1
Rev. Trend: 50.8%
Qual. Beats: 7
Warnings
Tailwinds
Seasonality 8.4 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: 442.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.34 > 0.02 and ΔFCF/TA 1.74 > 1.0 |
| NWC/Revenue: 3.45% < 20% (prev -29.28%; Δ 32.73% < -1%) |
| CFO/TA 0.35 > 3% & CFO 980.5m > Net Income 442.8m |
| Net Debt (3.54b) to EBITDA (861.9m): 4.10 < 3 |
| Current Ratio: 1.07 > 1.5 & < 3 |
| Outstanding Shares: last quarter (226.8m) vs 12m ago -18.03% < -2% |
| Gross Margin: 79.72% > 18% (prev 81.34%; Δ -1.62% > 0.5%) |
| Asset Turnover: 90.32% > 50% (prev 91.13%; Δ -0.81% > 0%) |
| Interest Coverage Ratio: 4.57 > 6 (EBIT TTM 706.1m / Interest Expense TTM 154.5m) |
| A: 0.03 (Total Current Assets 1.27b - Total Current Liabilities 1.18b) / Total Assets 2.83b |
| B: -1.42 (Retained Earnings -4.02b / Total Assets 2.83b) |
| C: 0.25 (EBIT TTM 706.1m / Avg Total Assets 2.80b) |
| D: -0.44 (Book Value of Equity -2.19b / Total Liabilities 5.01b) |
| Altman-Z'' = -3.20 = D |
| DSRI: 1.01 (Receivables 76.3m/75.8m, Revenue 2.53b/2.53b) |
| GMI: 1.02 (GM 81.34% / 79.72%) |
| AQI: 0.87 (AQ_t 0.34 / AQ_t-1 0.39) |
| SGI: 1.00 (Revenue 2.53b / 2.53b) |
| TATA: -0.19 (NI 442.8m - CFO 980.5m) / TA 2.83b) |
| Beneish M = -3.10 (Cap -4..+1) = AA |
As of September 04, 2026, the stock is trading at USD 35.70 with a total of 3,401,451 shares traded. Over the past week, the price has changed by -0.50%, over one month by +8.02%, over three months by +29.39% and over the past year by +23.23%.
Current recommended Stop Loss: 34.20 (which is 4.2% or 1.4 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 | 30.7 | -14.1% |
P/E Trailing = 19.8232
P/E Forward = 11.976
P/S = 3.0818
P/B = 29.8101
P/EG = 29.957
Revenue TTM = 2.53b USD
EBIT TTM = 706.1m USD
EBITDA TTM = 861.9m USD
Long Term Debt = 3.27b USD (from longTermDebt, last quarter)
Short Term Debt = 211.1m USD (from shortTermDebt, last quarter)
Debt = 4.65b USD (from shortLongTermDebtTotal, last quarter) + Leases 675.2m
Net Debt = 3.54b USD (calculated: Debt 4.65b - CCE 1.11b)
Enterprise Value = 11.3b USD (7.80b + Debt 4.65b - CCE 1.11b)
Interest Coverage Ratio = 4.57 (Ebit TTM 706.1m / Interest Expense TTM 154.5m)
EV/FCF = 11.85x (Enterprise Value 11.3b / FCF TTM 957.1m)
FCF Yield = 8.44% (FCF TTM 957.1m / Enterprise Value 11.3b)
FCF Margin = 37.81% (FCF TTM 957.1m / Revenue TTM 2.53b)
Net Margin = 17.49% (Net Income TTM 442.8m / Revenue TTM 2.53b)
Gross Margin = 79.72% ((Revenue TTM 2.53b - Cost of Revenue TTM 513.5m) / Revenue TTM)
Gross Margin QoQ = 80.21% (prev 79.65%)
Tobins Q-Ratio = 4.01 (Enterprise Value 11.3b / Total Assets 2.83b)
Interest Expense / Debt = 3.32% (Interest Expense 154.5m / Debt 4.65b)
Taxrate = 20.84% (116.6m / 559.4m)
NOPAT = 558.9m (EBIT 706.1m * (1 - 20.84%))
Current Ratio = 1.07 (Total Current Assets 1.27b / Total Current Liabilities 1.18b)
Debt / Equity = -2.13 (negative equity) (Debt 4.65b / totalStockholderEquity, last quarter -2.19b)
Debt / EBITDA = 4.10 (Net Debt 3.54b / EBITDA 861.9m)
Debt / FCF = 3.70 (Net Debt 3.54b / FCF TTM 957.1m)
Total Stockholder Equity = -1.88b (last 4 quarters mean from totalStockholderEquity)
RoA = 15.80% (Net Income 442.8m / Total Assets 2.83b)
RoE = -23.53% (negative equity) (Net Income TTM 442.8m / Total Stockholder Equity -1.88b)
RoCE = 50.76% (EBIT 706.1m / Capital Employed (Equity -1.88b + L.T.Debt 3.27b))
RoIC = 32.27% (NOPAT 558.9m / Invested Capital 1.73b)
WACC = 6.23% (E(7.80b)/V(12.5b) * Re(8.37%) + D(4.65b)/V(12.5b) * Rd(3.32%) * (1-Tc(0.21)))
Discount Rate = 8.37% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -99.71 | Cagr: -16.54%
[DCF] Terminal Value 76.34% ; FCFF base≈931.4m ; Y1≈991.0m ; Y5≈1.18b
[DCF] Fair Price = 102.5 (EV 18.1b - Net Debt 3.54b = Equity 14.6b / Shares 142.3m; r=8.35% [WACC [floored]]; 5y FCF grow 7.20% → 2.50% )
EPS Correlation: 91.40 | EPS CAGR: 12.97% | SUE: -2.12 | # QB: -1
Revenue Correlation: 50.84 | Revenue CAGR: 0.50% | SUE: 1.57 | # QB: 7
EPS current Quarter (2026-09-30): EPS=0.73 | Chg30d=-6.66% | Revisions=-67% | Analysts=7
EPS current Year (2026-12-31): EPS=3.05 | Chg30d=-0.69% | Revisions=+0% | GrowthEPS=+7.2% | GrowthRev=-0.1%
EPS next Year (2027-12-31): EPS=3.28 | Chg30d=-3.67% | Revisions=-44% | GrowthEPS=+7.7% | GrowthRev=-0.3%
[Analyst] Revisions Ratio: -48% (up=4, down=14)