Stocks · Technology · Software - Infrastructure
Dropbox, Inc. DBX
$33.90 -0.53% Close, Oct 2, 2026 · NASDAQ · Market cap $8.63B
High qualityLow risk
Next earnings report: Nov 5, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- The diluted share count fell 18.0% in a year, mainly through buybacks.
- Earnings beat analyst estimates in each of the last 14 quarters (average surprise over the last four: +6.4%).
- Net debt is 3.4× EBITDA, a high level of leverage.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 18%
- EPS growth (TTM, YoY)Bottom 44%
- FCF growth (TTM, YoY)Bottom 37%
- Revenue growth, 3-year CAGRBottom 39%
- Revenue growth accelerationTop 49%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 5%
- Gross marginTop 11%
- Operating marginTop 10%
- Cash conversion (OCF / net income)Top 34%
- Accruals (lower is better)Top 14%
- Net debt / EBITDA (lower is better)Bottom 15%
- Interest coverTop 47%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 15%
- Free-cash-flow yieldTop 10%
- EBITDA / enterprise valueTop 22%
- Sales / enterprise valueBottom 46%
- P/E vs own 5-year history (lower is better)Top 50%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 41%
- 6-month returnTop 33%
- 1-year return vs S&P 500Top 43%
- Distance from 52-week highTop 21%
- Trend checklist (0–4)Bottom 40%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 43%
- Consecutive EPS beatsTop 9%
- Share of analysts rating BuyBottom 14%
- Upside to consensus price targetBottom 4%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 19%
- Maximum drawdown, 3 yearsTop 10%
- Beta vs S&P 500 (lower is better)Top 11%
- Net debt / EBITDA (lower is better)Bottom 15%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | -0.6% | -0.0% | ↑ |
| EPS growth (YoY) | 19.6% | 9.8% | ↓ |
| Gross margin | 81.3% | 79.7% | ↓ |
| Operating margin | 22.7% | 26.5% | ↑ |
| FCF margin | 35.2% | 37.8% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | -0.0% | -0.6% | ↑ | Bottom 18% |
| EPS growth (TTM, YoY) | 9.8% | 19.6% | ↓ | Bottom 44% |
| Gross margin | 79.7% | 81.3% | ↓ | Top 11% |
| Operating margin | 26.5% | 22.7% | ↑ | Top 10% |
| Net margin | 17.5% | 19.2% | ↓ | — |
| Free-cash-flow margin | 37.8% | 35.2% | ↑ | — |
| Return on invested capital | 28.6% | — | Top 5% | |
| Revenue growth, 3-year CAGR | 2.7% | — | Bottom 39% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 2.21×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -19.0%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 8.9%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +0.7 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 3.39×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 4.3×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 17.82%
- Shareholder yield
- 17.82%
- Share count change, 1 year
- -18.0%
- Share count change, 3-year CAGR
- -12.9%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 7, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 14
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +6.4%
- Average 2-day reaction, last 8
- -0.5%
- Positive 20 days after report
- 6 of 8
Analysts
- Consensus price target
- $26.83
- Target vs current price
- -20.9%
- Analysts with a rating
- 16
- Share rating Buy or Strong Buy
- 38%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 6, 2026 | +1.5% | -1.3% | -3.9% | -1.4% | — |
| May 7, 2026 | +7.0% | +1.8% | +6.1% | +10.2% | +33.9% |
| Feb 19, 2026 | +3.0% | +0.2% | -1.0% | +1.5% | +6.2% |
| Nov 6, 2025 | +14.2% | -1.6% | +5.9% | +2.2% | -13.8% |
| Aug 7, 2025 | +12.7% | -1.2% | +6.1% | +11.0% | +8.5% |
| May 8, 2025 | +12.5% | +1.0% | +0.7% | +0.3% | -9.3% |
| Feb 20, 2025 | +17.7% | -2.4% | -18.6% | -18.1% | -9.8% |
| Nov 7, 2024 | +12.8% | -0.1% | +0.0% | +3.0% | +17.0% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 6, 2026 | $0.75 | $0.74 | +1.5% | $631.5M |
| May 7, 2026 | $0.76 | $0.71 | +7.0% | $629.5M |
| Feb 19, 2026 | $0.68 | $0.66 | +3.0% | $636.2M |
| Nov 6, 2025 | $0.74 | $0.65 | +14.2% | $634.4M |
| Aug 7, 2025 | $0.71 | $0.63 | +12.7% | $625.7M |
| May 8, 2025 | $0.70 | $0.62 | +12.5% | $624.7M |
| Feb 20, 2025 | $0.73 | $0.62 | +17.7% | $643.6M |
| Nov 7, 2024 | $0.60 | $0.53 | +12.8% | $638.8M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 18.8× | 17.4× | 58th | Top 15% |
| P/E (forward) | 11.1× | — | — | — |
| EV / EBITDA | 13.4× | — | — | Top 22% |
| EV / Sales | 4.56× | — | — | Bottom 46% |
| Free-cash-flow yield | 11.09% | — | — | Top 10% |
| Earnings yield | 5.31% | — | — | Top 15% |
P/E over the past five years
Range 13.1× – 27.1× since Dec 31, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +14.8%
- Earnings per share growth (TTM)
- +9.8%
- Change in P/E multiple
- +17.9%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 68
- 50-day average slope (20 days)
- +7.5%
- 200-day average slope (20 days)
- +2.0%
- Distance from 50-day average
- -1.2%
- Distance from 200-day average
- +20.2%
- RSI (14)
- 47.8
- Relative volume
- 0.54×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 40.4%
- Volatility vs own 5-year history
- 78th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.76
- Correlation with S&P 500
- 0.34
- Current drawdown from 1-year high
- -10.2%
- Maximum drawdown, 3 years
- -37.4%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Aug 9, 2021 | Mar 13, 2023 | -41.5% | 400 days | 216 days (Jan 22, 2024) |
| Feb 9, 2024 | Jun 18, 2024 | -37.4% | 89 days | 166 days (Feb 18, 2025) |
| Feb 18, 2025 | Apr 10, 2026 | -33.7% | 287 days | 75 days (Jul 29, 2026) |
| Sep 16, 2026 | Sep 28, 2026 | -15.4% | 8 days | Not yet recovered |
| Mar 17, 2021 | May 13, 2021 | -12.9% | 40 days | 14 days (Jun 3, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $8.63B
- P/E (TTM)
- 18.8
- EPS, diluted (TTM)
- $1.80
- Revenue (TTM)
- $2.53B
- 52-week range
- $21.70 – $38.17
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $2.16B | $2.32B | $2.50B | $2.55B | $2.52B |
| Gross profit | $1.71B | $1.88B | $2.02B | $2.10B | $2.02B |
| Operating income | $274.4M | $181.3M | $538.7M | $486.2M | $691.5M |
| Net income | $335.8M | $553.2M | $453.6M | $452.3M | $508.4M |
| EPS (diluted) | $0.85 | $1.52 | $1.31 | $1.40 | $1.86 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $638.8M | $643.6M | $624.7M | $625.7M | $634.4M | $636.2M | $629.5M | $631.5M |
| Net income | $106.7M | $102.8M | $150.3M | $125.6M | $123.8M | $108.7M | $114.5M | $95.8M |
| EPS (diluted) | $0.34 | $0.34 | $0.51 | $0.45 | $0.47 | $0.43 | $0.48 | $0.42 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $729.8M | $797.3M | $783.7M | $894.1M | $951.8M |
| Capital expenditure | -$28.9M | -$34.9M | -$24.6M | -$22.5M | -$21.0M |
| Free cash flow | $700.9M | $762.4M | $759.1M | $871.6M | $930.8M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | -$1.05B | -$794.9M | -$537.4M | -$1.24B | -$1.71B |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $1.11B
- Total assets
- $2.83B
- Total liabilities
- $5.01B
- Total debt
- $3.98B
- Net debt
- $2.92B
- Shareholders’ equity
- -$2.19B
As of Jun 30, 2026 (filed Aug 7, 2026).
Short interest
- Shares sold short
- 22,421,302
- Days to cover
- 5.87
- Change vs previous report
- -12.7%
FINRA short interest, settlement date Sep 15, 2026.