Dropbox, Inc.

NasdaqGS:DBX Rapport sur les actions

Capitalisation boursière : US$6.1b

Dropbox Résultats passés

Passé contrôle des critères 3/6

Dropbox a connu une croissance annuelle moyenne de ses bénéfices de 32.9%, tandis que le secteur Software a vu ses bénéfices augmenter de en hausse à 21.7% par an. Les revenus ont augmenté de en hausse à un taux moyen de 5.4% par an.

Informations clés

32.91%

Taux de croissance des bénéfices

36.43%

Taux de croissance du BPA

Software Croissance de l'industrie17.33%
Taux de croissance des recettes5.41%
Rendement des fonds propresn/a
Marge nette20.17%
Prochaine mise à jour des résultats07 May 2026

Mises à jour récentes des performances passées

Recent updates

Mise à jour de l'analyse • Apr 23

DBX: Future Earnings Will Depend On Core Resilience And Ongoing Buybacks

Analysts have trimmed Dropbox's implied price target to about $25.50, reflecting a modest adjustment to valuation assumptions as Street research cites mixed recent results, slower growth trends into 2026, and the need for clearer traction from newer products such as Dash. Analyst Commentary Recent Street research on Dropbox reflects a more cautious stance, with several firms lowering price targets and adjusting ratings as they reassess growth, execution on new products like Dash, and how much investors are willing to pay for the story.
Mise à jour de l'analyse • Apr 09

DBX: Future Earnings Profile Will Rely On Core Stability And Capital Returns

Analysts have trimmed their average price targets on Dropbox to a range centered around $25 to $27. This reflects ongoing concerns about growth challenges, mixed recent results, and the need for clearer traction from products like Dash before considering a more constructive stance.
Mise à jour de l'analyse • Mar 26

DBX: Execution And Buybacks Will Shape Future Earnings Multiple Constraints

For Dropbox, the analyst price target in this framework increases from $20.00 to $21.00 as analysts factor in recent target cuts from Citi, UBS, RBC Capital, and JPMorgan, along with updated assumptions for growth, profitability, and future P/E. Analyst Commentary Recent Street research on Dropbox reflects a cautious tone, with several bearish analysts trimming price targets and one downgrade in coverage.
Mise à jour de l'analyse • Mar 11

DBX: Future Earnings Profile Will Depend On Core Stability And New Product Execution

Our updated narrative trims the analyst price target for Dropbox from $28.57 to $25.50, reflecting a series of recent target cuts from $30 to $27, $27 to $23, $35 to $30, and $29 to $25 as analysts point to ongoing growth challenges, mixed results, and limited evidence of traction from newer products like Dash. Analyst Commentary Recent research points to a more cautious stance on Dropbox, with several firms trimming their price targets and emphasizing execution on growth initiatives and new products like Dash as key swing factors for valuation.
Mise à jour de l'analyse • Feb 25

DBX: Buybacks And AI Investment Will Support Higher Future Pricing

The analyst price target for Dropbox has been reduced from $35 to $30 as analysts factor in mixed recent results, ongoing growth challenges, and questions around the pace of adoption and monetization for new products like Dash. Analyst Commentary Recent Street research on Dropbox reflects a cautious stance overall, but there are still some constructive signals for investors who are focused on execution and valuation.
Seeking Alpha • Feb 20

Dropbox: Rich FCF That Can't Be Sustained As Users Leave

Summary Dropbox faces structural headwinds, with Q4 results revealing user contraction and declining ARPU, reinforcing my 'Sell' rating. DBX guides for FY26 revenue of $2.485–$2.5 billion, implying -1.6% to -0.8% y/y growth and margin de-leverage to 39.0–39.5%. Despite a low 8.5x EV/FY26 FCF multiple, DBX's profit sustainability is questionable amid ongoing user and revenue declines. Current operational deterioration is visible in DBX’s metrics, not just theoretical AI risk, warranting continued caution and capital allocation elsewhere. Read the full article on Seeking Alpha
Mise à jour de l'analyse • Feb 11

DBX: Execution And Competitive Pressures Will Constrain Future Earnings Multiple

Analysts kept their $20.00 fair value estimate for Dropbox steady while slightly adjusting assumptions around discount rate, revenue growth, margins and future P/E to reflect updated views on the risk profile and earnings power, without changing the overall valuation anchor. Analyst Commentary While the fair value estimate for Dropbox remains unchanged at $20.00, some elements of Street research highlight risks that readers should keep in mind when thinking about valuation and execution.
Mise à jour de l'analyse • Jan 26

DBX: Q3 Margin Strength And Guidance Shifts Will Shape Fair Value Outlook

Analysts have inched their fair value estimate for Dropbox higher to $28.57 from $28.13, reflecting updated assumptions around a slightly higher discount rate, a modest decline in expected revenue growth, a marginally stronger profit margin, and a lower future P/E multiple in light of recent research that includes RBC Capital's price target move to $38 after what it called decent Q3 results. Analyst Commentary Recent Street research on Dropbox has focused on how the latest quarterly results line up against expectations and what that might mean for valuation.
Mise à jour de l'analyse • Jan 11

DBX: Q3 Outperformance And Buybacks Will Support Higher Future Pricing

Analysts raised their fair value estimate for Dropbox to US$35 from US$32, citing the recent price target increase from US$35 to US$38 at RBC Capital and research that highlights stronger than expected Q3 revenue, billings, and operating margins, despite slightly softer annual recurring revenue. Analyst Commentary For Dropbox, bullish analysts are pointing to the recent price target increase to US$38 as a sign of confidence in how the company is executing against expectations.
Mise à jour de l'analyse • Dec 13

DBX: Rising Execution Risks Will Pressure Long Term Earnings Multiple

Analysts have modestly reduced their fair value estimate for Dropbox from $23.00 to $20.00 per share, reflecting a higher assumed discount rate, while also acknowledging slightly better long term margin prospects and a lower future earnings multiple. Analyst Commentary While recent earnings have demonstrated resilient profitability and solid execution, bearish analysts continue to flag a disconnect between Dropbox's share price and its long term fundamental outlook.
Article d'analyse • May 08

Why We Think Shareholders May Be Considering Bumping Up Dropbox, Inc.'s (NASDAQ:DBX) CEO Compensation

Key Insights Dropbox to hold its Annual General Meeting on 15th of May Total pay for CEO Drew Houston includes...
Seeking Alpha • Mar 21

Dropbox: Losing Customers, Market Share, And Revenue

Summary Dropbox has faced near-zero growth and a stiff decline, struggling to compete with rivals like Box, which shows better growth rates. Despite a 10% gain over the past year, Dropbox's poor Q4 earnings and bleak FY25 outlook signal continued customer loss and revenue decline. Dropbox's subsidiary FormSwift is underperforming, and the company's AI product, Dropbox Dash, lacks compelling differentiation, worsening its competitive stance. Despite a cheap FCF multiple under 10x, given Dropbox's poor outlook and lack of growth prospects, it's advisable to steer clear and invest elsewhere. Read the full article on Seeking Alpha
Seeking Alpha • Feb 26

Dropbox: I Expect Further Downside

Summary Dropbox shares are down around 15% since reporting Q4'24, guiding for revenue and user decline in 2025. The core business looks to be deteriorating with a vulnerable 80% gross margin and increased competition from other cloud storage providers. Dropbox Dash, the company's pivot to universal search, is so far not generating revenue and the product will likely face competition from other AI and big tech alternatives. I previously rated shares a sell at around $31, but I expect more downside from here. Read the full article on Seeking Alpha
Seeking Alpha • Feb 18

Dropbox: Low Growth, Fair Valuation And Competition Risks

Summary Dropbox operates in a competitive market, showing strong features but limited EPS growth, leading to a "hold" rating. The company enhances governance and collaboration, reduces capex, and uses gen AI for productivity. Financially, Dropbox has better gross margins than Box but lags in revenue growth and efficiency, issuing significant debt for buybacks. Workforce restructuring and improved data governance in Dash AI present opportunities, but low growth and competition pose risks. Read the full article on Seeking Alpha
Seeking Alpha • Jan 29

Dropbox: Terminal Value Component Remains An Enduring Question Mark

Summary Dropbox's attractive financials are overshadowed by concerns about terminal value risk, leading to market discounting and heightened stock volatility. Management's continued R&D spending despite stagnant growth raises questions, highlighted by a frustrating earnings call comparison to Netflix's evolution. Dropbox's efforts like Paper, Spaces, and Dash reflect survivorship bias, with many initiatives failing to reignite growth. We anticipated more aggressive acquisitions, but recent moves seem tangential, prompting us to step back and reconsider our investment stance. Read the full article on Seeking Alpha
Seeking Alpha • Dec 27

Dropbox: Redundant With No Credible Pivots

Summary Dropbox is priced as a premium service but offers little more than its competitors. Growth in paying users has come to almost a halt, and canceling subscribers are unlikely to return. DBX's model was made for a different age. Today, users increasingly expect cloud storage to be free or as a benefit of signing up to a big tech ecosystem. Shares traded down to around $20 this year after DBX reported a decline in paying users in Q4'23 and guided below street expectations. Since then, shares have, in my opinion, unjustifiably rallied back to around $30. My outlook for Dropbox suggests shares should be valued at around $16 presenting a significant downside. Read the full article on Seeking Alpha
Seeking Alpha • Nov 12

Dropbox: This Situation Is A Falling Knife

Summary Dropbox's user growth has nearly halted, with revenue growth sliding to low single digits and customer acquisition faltering, signaling more downside ahead. Dropbox faces stiff competition from Box and Google Drive, leading to an existential crisis and a major slowdown in user acquisition. Despite large free cash flows, Dropbox maintains a net debt position and lowered its cash flow guidance, pushing it further from its $1 billion FCF goal. AI features haven't boosted Dropbox's top-line growth, and increased churn rates question the stickiness and value of its subscription revenue base. Read the full article on Seeking Alpha
Seeking Alpha • Oct 03

Dropbox: Business Has A Poor Competitive Position

Summary My recommendation for Dropbox is a hold rating due to its structurally disadvantaged position against larger competitors like OneDrive and Google Drive. Despite its competitive challenges, DBX remains a cash-generative business, with management actively returning capital to shareholders through buybacks and exploring ways to improve its FCF profile. DBX is not able to compete effectively, especially in a challenging macro environment. Read the full article on Seeking Alpha
Seeking Alpha • Sep 02

Dropbox: A Buyout Might Save This From The Stall Warning (Technical Analysis)

Summary Lyn Alden is neutral on Dropbox, citing stalled revenue growth but noting it's priced cheaply and could be an acquisition target. Our methodology focuses on human behavioral patterns in price structures, differing from traditional technical analysis. Current Dropbox chart analysis suggests a bearish scenario, with potential downside plays and risk defined by recent highs. Embrace our unique approach to market analysis for reliable guidance and risk management in trading and investing. Read the full article on Seeking Alpha
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Nouvelle analyse • Aug 27

Expanding Into AI With Dash Could Spur Growth Amidst Team Segment Struggles And Margin Pressures

Enhanced features like AI-enabled Dash and FSS encryption aim to boost revenue by attracting new users and retaining existing ones.
Seeking Alpha • Aug 12

After Earnings Beat, Dropbox Growth Is Worth Keeping An Eye On

Summary Dropbox has seen slowing growth, but beat earnings estimates last week and reported 18.22 million paying users. The company offers various premium services related to data storage and sharing, investing in AI technology for a competitive advantage. Dropbox's balance sheet shows negative shareholder equity, but manageable debt with potential for growth if user conversion to paid services continues. Read the full article on Seeking Alpha
Seeking Alpha • Jun 06

Dropbox: The Growth Engine Has Sputtered (Rating Downgrade)

Summary Dropbox's stock has dropped over 20% this year, with slowing growth and disappointing Q1 results. The company cited conversion issues at the top of its funnel, stemming from its decision to focus on middle-priced SKU tiers. Q1 revenue growth not only decelerated sharply and declined sequentially from Q4, but also lagged several points behind rival Box's growth rate. The only positive offsets for Dropbox are a rich operating margin (~37%) and a cheap FCF multiple, but growth issues will likely keep the stock from re-rating to a normalized multiple. Read the full article on Seeking Alpha
Seeking Alpha • May 07

Dropbox: Attractive Forward Returns With Upside

Summary Dropbox has nearly reached its $1 billion free cash flow target for 2024, demonstrating its resilience and future prospects. The company's consistent recurring revenue and robust cash flow generation make it a great candidate for a private equity style take-out. Dropbox's strength lies in its impressive user retention and "stickiness" factor, giving it an edge over competitors. Read the full article on Seeking Alpha
Seeking Alpha • Apr 02

Dropbox: Revenue Growth May Come Under Pressure (Rating Downgrade)

Summary Dropbox is facing challenges with slowing product adoption and a skewed customer mix, which may put pressure on its revenue growth. The company's financial prudence and margin improvement efforts are commendable, but it fell short of its free cash target in FY23. Dropbox's valuation suggests it is trading in the fair value range, leading to a neutral stance on the stock. Read the full article on Seeking Alpha

Ventilation des recettes et des dépenses

Comment Dropbox gagne et dépense de l'argent. Sur la base des derniers bénéfices déclarés, sur une base LTM.

Historique des gains et des recettes

NasdaqGS:DBX Recettes, dépenses et bénéfices (USD Millions )
DateRecettesLes revenusDépenses G+ADépenses de R&D
31 Dec 252,521508599730
30 Sep 252,528503617757
30 Jun 252,533485642800
31 Mar 252,542470669843
31 Dec 242,548452687885
30 Sep 242,540577691894
30 Jun 242,534584683884
31 Mar 242,522517682893
31 Dec 232,502454695909
30 Sep 232,465555675925
30 Jun 232,423524670937
31 Mar 232,374543657916
31 Dec 222,325553632892
30 Sep 222,292350634855
30 Jun 222,251342647815
31 Mar 222,209368640786
31 Dec 212,158336651756
30 Sep 212,097-135657731
30 Jun 212,034-177655727
31 Mar 211,971-248667727
31 Dec 201,914-256651728
30 Sep 201,85683651728
30 Jun 201,79733650717
31 Mar 201,731-6654694
31 Dec 191,661-53669662
30 Sep 191,591-56654622
30 Jun 191,523-44630582
31 Mar 191,461-27597540
31 Dec 181,392-485723768
30 Sep 181,321-513713735
30 Jun 181,248-521682699
31 Mar 181,175-544656670
31 Dec 171,107-112471380
30 Sep 171,039-103419350
30 Jun 17974-132393328
31 Mar 17900-174369309
31 Dec 16845-210358290
31 Dec 15604-326301202

Des revenus de qualité: DBX a des bénéfices de haute qualité.

Augmentation de la marge bénéficiaire: Les marges bénéficiaires nettes actuelles de DBX sont plus élevées que l'année dernière DBX. (20.2%) sont plus élevées que l'année dernière (17.7%).

Analyse des flux de trésorerie disponibles par rapport aux bénéfices

Analyse de la croissance passée des bénéfices

Tendance des revenus: DBX est devenue rentable au cours des 5 dernières années, augmentant ses bénéfices de 32.9% par an.

Accélération de la croissance: La croissance des bénéfices de DBX au cours de l'année écoulée ( 12.4% ) est inférieure à sa moyenne sur 5 ans ( 32.9% par an).

Bénéfices par rapport au secteur d'activité: La croissance des bénéfices DBX au cours de l'année écoulée ( 12.4% ) n'a pas surpassé celle du secteur Software 14.3%.

Rendement des fonds propres

ROE élevé: Le passif DBX dépasse son actif, il est donc difficile de calculer son rendement des capitaux propres.

Rendement des actifs

Rendement des capitaux employés

Découvrir des entreprises performantes dans le passé

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Analyse de l'entreprise et données financières

DonnéesDernière mise à jour (heure UTC)
Analyse de l'entreprise2026/05/06 21:08
Cours de l'action en fin de journée2026/05/06 00:00
Les revenus2025/12/31
Revenus annuels2025/12/31

Sources de données

Les données utilisées dans notre analyse de l'entreprise proviennent de S&P Global Market Intelligence LLC. Les données suivantes sont utilisées dans notre modèle d'analyse pour générer ce rapport. Les données sont normalisées, ce qui peut entraîner un délai avant que la source ne soit disponible.

PaquetDonnéesCadre temporelExemple de source américaine *
Finances de l'entreprise10 ans
  • Compte de résultat
  • Tableau des flux de trésorerie
  • Bilan
Estimations consensuelles des analystes+3 ans
  • Prévisions financières
  • Objectifs de prix des analystes
Prix du marché30 ans
  • Cours des actions
  • Dividendes, scissions et actions
Propriété10 ans
  • Actionnaires principaux
  • Délits d'initiés
Gestion10 ans
  • L'équipe dirigeante
  • Conseil d'administration
Principaux développements10 ans
  • Annonces de l'entreprise

* Exemple pour les titres américains ; pour les titres non américains, des formulaires réglementaires et des sources équivalentes sont utilisés.

Sauf indication contraire, toutes les données financières sont basées sur une période annuelle mais mises à jour trimestriellement. C'est ce qu'on appelle les données des douze derniers mois (TTM) ou des douze derniers mois (LTM). En savoir plus.

Modèle d'analyse et flocon de neige

Les détails du modèle d’analyse utilisé pour générer ce rapport sont disponibles sur notre page Github; nous proposons également des guides expliquant comment utiliser nos rapports et des tutoriels sur Youtube.

Découvrez l'équipe de classe mondiale qui a conçu et construit le modèle d'analyse Simply Wall St.

Indicateurs de l'industrie et du secteur

Nos indicateurs de secteur et de section sont calculés toutes les 6 heures par Simply Wall St. Les détails de notre processus sont disponibles sur Github.

Sources des analystes

Dropbox, Inc. est couverte par 21 analystes. 7 de ces analystes ont soumis les estimations de revenus ou de bénéfices utilisées comme données d'entrée dans notre rapport. Les soumissions des analystes sont mises à jour tout au long de la journée.

AnalysteInstitution
Edward MagiBerenberg
Zane ChraneBernstein
Matthew BullockBofA Global Research