DROPBOX, INC. DBX

Technology SIC 7372 - Services-Prepackaged Software NAICS Information › Publishing Industries › Software Publishers derived Nasdaq

Dropbox, Inc. (the "Company", "we", or "us") is the one place to keep life organized and keep work moving.

We were founded in 2007 with a simple idea: Life would be a lot better if everyone could access their most important information anytime from any device. We've largely accomplished that mission by building tools to help people work from anywhere—and along the way we recognized that for most of our users, sharing and collaborating on the Dropbox, Inc. platform ("Dropbox") was even more valuable than storing files.

Our market opportunity grew as we've expanded from keeping files in sync to keeping teams in sync. Today, we are focused on reimagining the way work gets done by reducing the inordinate amount of time and energy the world spends on "work about work"—tedious tasks like searching for content, switching between applications, and managing workflows. We believe the need for our platform will continue to grow as teams become more fluid and global, and content is increasingly fragmented across incompatible tools and devices. Dropbox breaks down silos by centralizing the flow of information between the products and services our users prefer, even if they're not our own. In a world where using technology at work can be fragmented and distracting, Dropbox makes it easy to focus on the work that matters.

Last close 37.83 2026-10-23
Market cap $8.50B estimated share count
52-week range 21.70 - 38.17

Valuation FY2025 figures against the last close

P/S3.4x
P/E20.3x
P/FCF9.1x
EV/EBITDA10.4x
Dividend yield—
Diluted EPS1.86

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $2.52B$2.55B$2.50B$2.32B$2.16B$1.91B$1.66B$1.39B$1.11B$844.8M
Cost of revenue $500.8M$445.1M$478.5M$444.2M$444.2M$414.6M$411.0M$394.7M$368.9M$390.6M
Gross profit $2.02B$2.10B$2.02B$1.88B$1.71B$1.50B$1.25B$997.0M$737.9M$454.2M
R&D $732.0M$914.9M$936.5M$891.9M$755.9M$727.5M$662.1M$768.2M$380.3M$289.7M
SG&A $230.5M$241.2M$237.1M$222.9M$224.6M$227.8M$245.4M$283.2M$157.3M$107.4M
Total operating expenses $1.33B$1.62B$1.48B$1.70B$1.44B$1.78B$1.33B$1.49B$851.6M$647.7M
Operating income $689.1M$486.2M$538.7M$181.3M$274.4M-$277.0M-$80.5M-$494.0M-$113.7M-$193.5M
Pre-tax income $617.6M$509.8M$554.4M$192.7M$299.3M-$250.2M-$52.0M-$480.1M-$111.5M-$205.0M
Income tax $109.2M$57.5M$100.8M$360.5M$36.5M$6.1M$700.0K$4.8M$200.0K$5.2M
Net income $508.4M$452.3M$453.6M$553.2M$335.8M-$256.3M-$52.7M-$484.9M-$111.7M-$210.2M
EPS, basic 1.891.421.331.530.87-0.62-0.13———
EPS, diluted 1.861.401.311.520.85-0.62-0.13-1.35-0.57-1.11
Shares, diluted (wtd. avg.) 272.8M323.4M345.6M363.3M395.8M414.3M411.6M———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $891.3M$1.33B$614.9M$232.8M$533.0M$314.9M$551.3M$519.3M$430.0M$352.7M
Short-term investments $146.9M$265.9M$741.1M$1.11B$1.19B$806.4M$607.7M$570.0M$0—
Receivables $79.1M$70.4M$68.7M$53.8M$49.6M$43.4M$36.7M$28.6M$29.3M—
Total current assets $1.19B$1.74B$1.52B$1.49B$1.85B$1.23B$1.24B$1.21B$518.1M—
Property, plant and equipment $378.4M$358.8M$309.2M$308.4M$322.0M$338.7M$445.3M$310.6M$341.9M—
Goodwill $454.9M$442.8M$402.2M$403.3M$356.6M$236.9M$234.5M$96.5M$98.9M$96.0M
Other intangibles $33.7M$54.9M$58.1M$88.3M$53.6M$33.5M$47.4M$14.7M$17.0M—
Total assets $2.84B$3.33B$2.98B$3.11B$3.09B$2.39B$2.70B$1.69B$1.02B—
Accounts payable $24.3M$36.5M$38.5M$38.6M$25.7M$18.7M$40.7M$33.3M$31.9M—
Total current liabilities $1.89B$1.21B$1.20B$1.20B$1.18B$1.09B$1.01B$837.5M$738.4M—
Total liabilities $4.64B$4.08B$3.15B$3.42B$3.39B$2.05B$1.89B$1.02B$917.0M—
Retained earnings -$3.82B-$3.15B-$2.74B-$2.77B-$2.74B-$2.24B-$1.73B-$1.66B-$1.05B—
Total equity -$1.80B-$752.4M-$165.8M-$309.4M-$293.9M$333.8M$808.4M$676.8M$102.9M$122.8M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $951.8M$894.1M$783.7M$797.3M$729.8M$570.8M$528.5M$425.4M$330.3M$252.6M
Depreciation and amortisation $131.6M$109.3M$139.7M$140.9M$135.7M$145.1M$159.9M$158.6M$170.7M$173.8M
Stock-based compensation $300.8M$346.5M$338.0M$330.7M$287.1M$261.5M$261.2M$650.1M$164.6M$147.6M
Capital expenditure $21.0M$22.5M$24.3M$33.8M$22.1M$80.1M$136.1M$63.0M$25.3M$115.2M
Investing cash flow $111.9M$443.8M$395.2M-$48.5M-$524.8M-$233.6M-$320.0M-$633.8M-$23.9M-$118.0M
Financing cash flow -$1.53B-$586.6M-$799.2M-$1.04B$16.2M-$577.7M-$176.7M$300.8M-$231.7M-$134.5M
Buybacks $1.71B$1.24B$539.9M$795.4M$1.06B$397.5M$0$0——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001467623-26-000020.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B Revenue, FY2016: 844.8M Gross profit, FY2016: 454.2M Net income, FY2016: -210.2M Revenue, FY2017: 1.1B Gross profit, FY2017: 737.9M Net income, FY2017: -111.7M Revenue, FY2018: 1.4B Gross profit, FY2018: 997M Net income, FY2018: -484.9M Revenue, FY2019: 1.7B Gross profit, FY2019: 1.3B Net income, FY2019: -52.7M Revenue, FY2020: 1.9B Gross profit, FY2020: 1.5B Net income, FY2020: -256.3M Revenue, FY2021: 2.2B Gross profit, FY2021: 1.7B Net income, FY2021: 335.8M Revenue, FY2022: 2.3B Gross profit, FY2022: 1.9B Net income, FY2022: 553.2M Revenue, FY2023: 2.5B Gross profit, FY2023: 2B Net income, FY2023: 453.6M Revenue, FY2024: 2.5B Gross profit, FY2024: 2.1B Net income, FY2024: 452.3M Revenue, FY2025: 2.5B Gross profit, FY2025: 2B Net income, FY2025: 508.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $844.8M $1.11B $1.39B $1.66B $1.91B $2.16B $2.32B $2.50B $2.55B $2.52B
Gross profit $454.2M $737.9M $997.0M $1.25B $1.50B $1.71B $1.88B $2.02B $2.10B $2.02B
Net income -$210.2M -$111.7M -$484.9M -$52.7M -$256.3M $335.8M $553.2M $453.6M $452.3M $508.4M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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