Dropbox, Inc. (DBX) is a publicly traded company in the Technology — Software - Infrastructure industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Dropbox, 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.
Is Dropbox, Inc. stock overvalued or undervalued in 2026?
Dropbox, Inc. (DBX) trades at 19.8× earnings (P/E), below the median of the 317 technology companies over $2bn in Kaplio's universe. At its sector median (31.5×) $57 (+59 %).
Kaplio overview: Dropbox, Inc.
Market cap $8B · 52 weeks $22 – $38 (6 % below the high) · P/E 19.8× · 2027 est. P/E 10.7× · Dividend none · Next earnings November 5, 2026 · expected EPS $0.73 · Closing price, Nov 2 · accounts published Aug 6.
- Valuation: TTM P/E 19.8× (cheap).
- Business: ROIC 29 % (solid).
- Balance sheet: Net debt/EBITDA 3.3× (fragile).
- Earnings: 8 of 8 (on track).
What would it be worth at its usual multiples?
At its sector median (31.5×) $57 (+59 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
What matters in technology: 5 of 8 pass
- 3y revenue growth 13.4 %, fails.
- SBC / Revenue 11.9 %, fails.
- Net debt / EBITDA 3.3×, fails.
- Rule of 40 (SaaS only) 50, passes.
- Gross margin 80.1 %, passes.
- FCF / Revenue 36.9 %, passes.
- ROIC 28.6 %, passes.
- EV/EBITDA vs own 5y 12.5×, passes.
Against its peers (reference peers) — Dropbox, Inc.: P/E 19.8×; EV/EBITDA 12.5×; ROIC 28.6 %; $7.7B. Box, Inc. (P/E 62.1×; EV/EBITDA 33.7×; ROIC 16.9 %; $5.9B), GoDaddy Inc. (P/E 15.9×; EV/EBITDA 12.0×; ROIC 22.2 %; $14.8B), AvePoint, Inc. (P/E 53.3×; EV/EBITDA 48.0×; ROIC 9.5 %; $3.5B).
Profitability
| Return on Equity | -23.53% |
| Return on Invested Capital | 28.56% |
| Return on Assets | 15.67% |
| Gross Margin | 79.72% |
| Operating Margin | 26.49% |
| Net Margin | 17.49% |
Financial Health
| Debt / Equity | -1.82 |
| Current Ratio | 1.07 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 0.47 |
Price Performance
| 1 month | +5.13% |
| 3 months | +1.83% |
| Year-to-date | +28.20% |
| 1 year | +20.00% |
| 3 years | +37.08% |
| 5 years | +14.93% |
Related companies: GDDY · CVLT · AVPT · BOX
Explore sector: Technology · Software - Infrastructure
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