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DBX · Nasdaq · United States · Services-Prepackaged Software
In shortDROPBOX, INC. is profitable, generates cash and holds more cash than debt, with revenue stable (−1.1% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 27.3% | 100/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 20.2% | 100/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | – | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.63× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | – | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | -4.77 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 36.9% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.83× | 100/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 5 | 67/100 |
| Revenue growth volatility | 5.4% | 91/100 |
| Operating margin volatility | 7.6% | 40/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 2.7% | 32/100 |
|---|---|---|
| EPS growth, 3-year average | 7.0% | 60/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 2,158 | 2,325 | 2,502 | 2,548 | 2,521 |
| Cost of revenue | 444 | 444 | 479 | 445 | 501 |
| Gross profit | 1,714 | 1,881 | 2,023 | 2,103 | 2,020 |
| Research & development | 756 | 892 | 937 | 915 | 732 |
| Operating income | 274 | 181 | 539 | 486 | 689 |
| Pre-tax income | 299 | 193 | 554 | 510 | 618 |
| Income tax | (37) | (361) | 101 | 58 | 109 |
| Net income | 336 | 553 | 454 | 452 | 508 |
| Diluted EPS | $0.85 | $1.52 | $1.31 | $1.40 | $1.86 |
| Diluted shares (millions) | 396 | 363 | 346 | 323 | 273 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of DROPBOX, INC. are included in the Investor plan. Try free for 7 days →
−4.77 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
7/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 7, 2026