Dropbox, Inc.

SWX:1Q5 Stock Report

Market Cap: CHF 6.2b

Dropbox Valuation

Is 1Q5 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 1Q5 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

CHF 44.42
Fair Value
45.3% undervalued intrinsic discount
8
Number of Analysts

Below Fair Value: 1Q5 (CHF24.32) is trading below our estimate of fair value (CHF44.42)

Significantly Below Fair Value: 1Q5 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1Q5?

Key metric: As 1Q5 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1Q5. This is calculated by dividing 1Q5's market cap by their current earnings.
What is 1Q5's PE Ratio?
PE Ratio16.6x
EarningsUS$502.50m
Market CapUS$7.74b

Price to Earnings Ratio vs Peers

How does 1Q5's PE Ratio compare to its peers?

The above table shows the PE ratio for 1Q5 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average29.3x
TEMN Temenos
19.8x-9.84%CHF 5.0b
600570 Hundsun Technologies
53.2x18.83%CN¥56.0b
532466 Oracle Financial Services Software
29.6x9.50%₹702.4b
NICE NICE
14.7x8.88%₪25.8b
1Q5 Dropbox
16.6x-0.64%CHF 7.7b

Price-To-Earnings vs Peers: 1Q5 is good value based on its Price-To-Earnings Ratio (16.6x) compared to the peer average (29.3x).

Price to Earnings Ratio vs Industry

How does 1Q5's PE Ratio compare vs other companies in the European Software Industry?

8 CompaniesPrice / EarningsEstimated GrowthMarket Cap
1Q5 16.6xIndustry Avg. 26.7xNo. of Companies17PE020406080100+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 1Q5 is good value based on its Price-To-Earnings Ratio (16.6x) compared to the European Software industry average (27x).

Price to Earnings Ratio vs Fair Ratio

What is 1Q5's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

1Q5 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 1Q5's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 1Q5 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 24.32
CHF 22.74
-6.48%
17.68%CHF 30.59CHF 16.10n/a8
Nov ’26CHF 24.32
CHF 22.08
-9.20%
15.48%CHF 27.73CHF 15.84n/a8
Oct ’26CHF 24.32
CHF 22.17
-8.82%
15.48%CHF 27.84CHF 15.91n/a8
Sep ’26CHF 24.32
CHF 22.68
-6.74%
15.34%CHF 28.23CHF 16.13n/a8
Aug ’26CHF 24.32
CHF 22.59
-7.11%
17.28%CHF 28.11CHF 16.06n/a8
Jul ’26CHF 24.32
CHF 21.70
-10.75%
18.53%CHF 27.77CHF 15.87n/a9
Jun ’26CHF 24.32
CHF 22.63
-6.96%
18.53%CHF 28.95CHF 16.54n/a9
May ’26CHF 24.32
CHF 22.14
-8.96%
14.95%CHF 26.19CHF 16.37n/a9
Apr ’26CHF 24.32
CHF 25.21
+3.67%
11.66%CHF 28.71CHF 17.94n/a9
Mar ’26CHF 24.32
CHF 25.21
+3.67%
11.66%CHF 28.71CHF 17.94n/a9
Feb ’26CHF 24.32
CHF 26.41
+8.61%
13.76%CHF 30.74CHF 18.08n/a9
Jan ’26CHF 24.32
CHF 25.44
+4.61%
13.68%CHF 29.72CHF 18.01n/a8
Dec ’25CHF 24.32
CHF 24.44
+0.49%
13.45%CHF 29.06CHF 17.61n/a8
Nov ’25CHF 24.32
CHF 22.45
-7.70%
12.45%CHF 26.98CHF 16.86CHF 24.328
Oct ’25CHF 24.32
CHF 22.45
-7.70%
12.45%CHF 26.98CHF 16.86CHF 24.328
Sep ’25CHF 24.32
CHF 23.44
-3.62%
12.59%CHF 27.67CHF 17.29CHF 24.329
Aug ’25CHF 24.32
CHF 24.73
+1.67%
11.23%CHF 28.71CHF 19.74CHF 24.329
Jul ’25CHF 24.32
CHF 24.73
+1.67%
11.23%CHF 28.71CHF 19.74CHF 24.329
Jun ’25CHF 24.32
CHF 25.07
+3.10%
10.91%CHF 29.00CHF 19.94CHF 24.329
May ’25CHF 24.32
CHF 26.87
+10.47%
13.71%CHF 32.93CHF 21.95CHF 24.3210
Apr ’25CHF 24.32
CHF 26.82
+10.30%
12.57%CHF 32.33CHF 21.55CHF 24.3210
Mar ’25CHF 24.32
CHF 26.64
+9.55%
12.02%CHF 31.69CHF 21.12CHF 24.3210
Feb ’25CHF 24.32
CHF 27.26
+12.07%
13.27%CHF 31.97CHF 20.74CHF 24.3211
Jan ’25CHF 24.32
CHF 25.43
+4.58%
12.38%CHF 30.34CHF 20.22CHF 24.3211
Dec ’24CHF 24.32
CHF 26.31
+8.18%
11.36%CHF 30.57CHF 21.58CHF 24.3211
Nov ’24CHF 24.32
CHF 27.08
+11.35%
10.54%CHF 31.41CHF 21.54CHF 24.3211
CHF 22.26
Fair Value
9.3% overvalued intrinsic discount
8
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/07 23:51
End of Day Share Price 2025/11/07 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Dropbox, Inc. is covered by 23 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Edward MagiBerenberg
Michael FunkBofA Global Research
Matthew BullockBofA Global Research