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Dropbox Overview
About Dropbox
Dropbox provides cloud storage and content collaboration tools, focusing on individuals and small to midsize businesses. Founded in 2007, Dropbox was a pioneer in the file sync and share market. In recent years, the firm has been emphasizing its Dash product, which facilitates AI-powered universal search across unstructured cloud data.
Founded
2007
HQ
Employees
2.1K
Website
Sectors
Financials (LTM)
EV
$9B
Dropbox Financials
Dropbox reported last 12-month revenue of $3B and EBITDA of $1B.
In the same LTM period, Dropbox generated $2B in gross profit, $1B in EBITDA, and $753M in net income.
Revenue (LTM)
Dropbox P&L
In the most recent fiscal year, Dropbox reported revenue of $3B and EBITDA of $1B.
Dropbox expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $3B | XXX | $3B | XXX | XXX | XXX |
| Gross Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Gross Margin | 82% | XXX | 80% | XXX | XXX | XXX |
| EBITDA | $1B | XXX | $1B | XXX | XXX | XXX |
| EBITDA Margin | 47% | XXX | 47% | XXX | XXX | XXX |
| EBIT Margin | 40% | XXX | 41% | XXX | XXX | XXX |
| Net Profit | $753M | XXX | $775M | XXX | XXX | XXX |
| Net Margin | 30% | XXX | 31% | XXX | XXX | XXX |
| Net Debt | — | — | $2B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Dropbox Stock Performance
Dropbox has current market cap of $6B, and enterprise value of $9B.
Market Cap Evolution
Dropbox's stock price is $26.18.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $9B | $6B | 0.0% | XXX | XXX | XXX | $3.33 |
Benchmark Trading Valuation Multiples by Industry
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Start Free TrialDropbox Valuation Multiples
Dropbox trades at 3.4x EV/Revenue multiple, and 7.4x EV/EBITDA.
EV / Revenue (LTM)
Dropbox Financial Valuation Multiples
As of April 5, 2026, Dropbox has market cap of $6B and EV of $9B.
Equity research analysts estimate Dropbox's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Dropbox has a P/E ratio of 8.1x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $6B | XXX | $6B | XXX | XXX | XXX |
| EV (current) | $9B | XXX | $9B | XXX | XXX | XXX |
| EV/Revenue | 3.4x | XXX | 3.4x | XXX | XXX | XXX |
| EV/EBITDA | 7.4x | XXX | 7.3x | XXX | XXX | XXX |
| EV/EBIT | 8.5x | XXX | 8.4x | XXX | XXX | XXX |
| EV/Gross Profit | 4.2x | XXX | 4.3x | XXX | XXX | XXX |
| P/E | 8.1x | XXX | 7.9x | XXX | XXX | XXX |
| EV/FCF | 9.3x | XXX | 9.3x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Dropbox Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Dropbox Margins & Growth Rates
Dropbox's revenue in the last 12 month declined by (1%).
Dropbox's revenue per employee in the last FY averaged $1.2M, while opex per employee averaged $0.6M for the same period.
Dropbox's rule of 40 is 45% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Dropbox's rule of X is 43% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Dropbox Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | (1%) | XXX | (1%) | XXX | XXX | XXX |
| EBITDA Margin | 47% | XXX | 47% | XXX | XXX | XXX |
| EBITDA Growth | (2%) | XXX | (3%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 45% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 43% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.2M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.6M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 14% | XXX | 15% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 7% | XXX | 9% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 21% | XXX | 29% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 53% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Dropbox Public Comps
See public comps and valuation multiples for other Cloud Infrastructure and Data Storage comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Nextdc | XXX | XXX | XXX | XXX | XXX | XXX |
| Rigetti | XXX | XXX | XXX | XXX | XXX | XXX |
| NICE | XXX | XXX | XXX | XXX | XXX | XXX |
| UiPath | XXX | XXX | XXX | XXX | XXX | XXX |
| United Internet | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Dropbox M&A Activity
Dropbox acquired XXX companies to date.
Last acquisition by Dropbox was on XXXXXXXX, XXXXX. Dropbox acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Dropbox
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialDropbox Investment Activity
Dropbox invested in XXX companies to date.
Dropbox made its latest investment on XXXXXXXX, XXXXX. Dropbox invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Dropbox
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Dropbox
| When was Dropbox founded? | Dropbox was founded in 2007. |
| Where is Dropbox headquartered? | Dropbox is headquartered in United States. |
| How many employees does Dropbox have? | As of today, Dropbox has over 2K employees. |
| Who is the CEO of Dropbox? | Dropbox's CEO is Andrew W. Houston. |
| Is Dropbox publicly listed? | Yes, Dropbox is a public company listed on Nasdaq. |
| What is the stock symbol of Dropbox? | Dropbox trades under DBX ticker. |
| When did Dropbox go public? | Dropbox went public in 2018. |
| Who are competitors of Dropbox? | Dropbox main competitors are Nextdc, Rigetti, NICE, UiPath. |
| What is the current market cap of Dropbox? | Dropbox's current market cap is $6B. |
| What is the current revenue of Dropbox? | Dropbox's last 12 months revenue is $3B. |
| What is the current revenue growth of Dropbox? | Dropbox revenue growth (NTM/LTM) is (1%). |
| What is the current EV/Revenue multiple of Dropbox? | Current revenue multiple of Dropbox is 3.4x. |
| Is Dropbox profitable? | Yes, Dropbox is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Dropbox? | Dropbox's last 12 months EBITDA is $1B. |
| What is Dropbox's EBITDA margin? | Dropbox's last 12 months EBITDA margin is 47%. |
| What is the current EV/EBITDA multiple of Dropbox? | Current EBITDA multiple of Dropbox is 7.4x. |
| What is the current FCF of Dropbox? | Dropbox's last 12 months FCF is $932M. |
| What is Dropbox's FCF margin? | Dropbox's last 12 months FCF margin is 37%. |
| What is the current EV/FCF multiple of Dropbox? | Current FCF multiple of Dropbox is 9.3x. |
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