Dropbox, Inc.
DBXUSDropbox, Inc. engages in providing file backup, sync, and sharing solutions. Its products include Dropbox, Dropbox Reply, Dropbox Sign, Dropbox Reclaim.ai, Dropbox Dash, Dropbox DocSend, Dropbox Fax, and Dropbox Early access. It operates through the United States and International geographical segments. The company was founded by Andrew W. Houston and Arash Ferdowsi in May 2007 and is headquartered in San Francisco, CA.
Founded—IPO year2018As of2026-08-04
Market Cap
$8.69B
Enterprise Value
$11.41B
EV / LTM Revenue
4.5x
EV / NTM Revenue
4.5x
Trading multiples
Enterprise value over trailing (LTM) vs. forward (NTM) fundamentals. Click an LTM cell to chart it.
LTM
trailing
NTM
forward
Revenue
4.5x
Gross Profit
5.7x
EBITDA
9.5x
Classification
- Sector
- Application Software
- Sub-sector
- Customer & Revenue Applications
- Listing
- DBX
- Country
- US
Annual financials & analyst forecasts
| $M | CY2021 | CY2022 | CY2023 | CY2024 | CY2025 | CY2026E | CY2027E |
|---|---|---|---|---|---|---|---|
| Revenue YoY | — | 8% | 8% | 2% | -1% | -0% | -0% |
| Revenue | $2.16B | $2.32B | $2.50B | $2.55B | $2.52B | $2.51B | $2.51B |
| Gross Profit | $1.71B | $1.88B | $2.02B | $2.10B | $2.02B | — | — |
| Gross Profit Margin | 79.4% | 80.9% | 80.9% | 82.5% | 80.1% | — | — |
| EBITDA | $469M | $521M | $569M | $657M | $882M | $1.20B | $1.20B |
| EBITDA Margin | 21.7% | 22.4% | 22.7% | 25.8% | 35.0% | 47.7% | 47.7% |
| EBIT | $274M | $181M | $539M | $486M | $691M | $1.07B | $1.07B |
| Net Income | $336M | $553M | $454M | $452M | $508M | $835M | $924M |
| Free Cash Flow | $706M | $764M | $759M | $872M | $931M | — | — |
| FCF Margin | 32.7% | 32.8% | 30.3% | 34.2% | 36.9% | — | — |
| Short-Term Debt | $0M | $0M | $0M | $10M | $906M | — | — |
| Long-Term Debt | $1.37B | $1.37B | $1.38B | $2.34B | $2.48B | — | — |
| Cash & Cash Equivalents | $533M | $233M | $615M | $1.33B | $891M | — | — |
| Net Debt | $837M | $1.14B | $763M | $1.03B | $2.49B | — | — |
| Net Debt / EBITDA | 1.8x | 2.2x | 1.3x | 1.6x | 2.8x | — | — |
| Rule of 40 | — | 40.6% | 37.9% | 36.1% | 35.9% | — | — |
Figures in $M. True calendar years (Jan–Dec) built from quarterly data — income & cash-flow lines summed across the four quarters, balance sheet as of year-end. E columns are calendarized analyst consensus — gross profit, cash flow and balance-sheet lines are not estimated. Net debt = short-term debt + long-term debt − cash & cash equivalents; Rule of 40 = YoY revenue growth + FCF margin.