Dropbox Management
Management criteria checks 2/4
Dropbox's CEO is Drew Houston, appointed in Jun 2007, has a tenure of 18.92 years. total yearly compensation is $2.17M, comprised of 36.9% salary and 63.1% bonuses, including company stock and options. directly owns 35.17% of the company’s shares, worth $2.09B. The average tenure of the management team and the board of directors is 1.2 years and 6.1 years respectively.
Key information
Drew Houston
Chief executive officer
US$2.2m
Total compensation
| CEO salary percentage | 36.92% |
| CEO tenure | 18.9yrs |
| CEO ownership | 35.2% |
| Management average tenure | 1.2yrs |
| Board average tenure | 6.1yrs |
Recent management updates
Recent updates
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.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.
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.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.
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.Dropbox: Rich FCF That Can't Be Sustained As Users Leave
Feb 20DBX: 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.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.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.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.Why We Think Shareholders May Be Considering Bumping Up Dropbox, Inc.'s (NASDAQ:DBX) CEO Compensation
May 08
Investors Continue Waiting On Sidelines For Dropbox, Inc. (NASDAQ:DBX)
May 06Dropbox: Losing Customers, Market Share, And Revenue
Mar 21Dropbox: I Expect Further Downside
Feb 26Dropbox: Low Growth, Fair Valuation And Competition Risks
Feb 18Dropbox: Terminal Value Component Remains An Enduring Question Mark
Jan 29Dropbox: Redundant With No Credible Pivots
Dec 27Dropbox: This Situation Is A Falling Knife
Nov 12Dropbox: Business Has A Poor Competitive Position
Oct 03Dropbox: A Buyout Might Save This From The Stall Warning (Technical Analysis)
Sep 02
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.After Earnings Beat, Dropbox Growth Is Worth Keeping An Eye On
Aug 12Dropbox: The Growth Engine Has Sputtered (Rating Downgrade)
Jun 06Dropbox: Attractive Forward Returns With Upside
May 07Dropbox: Revenue Growth May Come Under Pressure (Rating Downgrade)
Apr 02CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Dec 31 2025 | US$2m | US$800k | US$508m |
| Sep 30 2025 | n/a | n/a | US$503m |
| Jun 30 2025 | n/a | n/a | US$485m |
| Mar 31 2025 | n/a | n/a | US$470m |
| Dec 31 2024 | US$2m | US$756k | US$452m |
| Sep 30 2024 | n/a | n/a | US$577m |
| Jun 30 2024 | n/a | n/a | US$584m |
| Mar 31 2024 | n/a | n/a | US$517m |
| Dec 31 2023 | US$2m | US$625k | US$454m |
| Sep 30 2023 | n/a | n/a | US$555m |
| Jun 30 2023 | n/a | n/a | US$524m |
| Mar 31 2023 | n/a | n/a | US$543m |
| Dec 31 2022 | US$1m | US$625k | US$553m |
| Sep 30 2022 | n/a | n/a | US$350m |
| Jun 30 2022 | n/a | n/a | US$342m |
| Mar 31 2022 | n/a | n/a | US$368m |
| Dec 31 2021 | US$2m | US$606k | US$336m |
| Sep 30 2021 | n/a | n/a | -US$135m |
| Jun 30 2021 | n/a | n/a | -US$177m |
| Mar 31 2021 | n/a | n/a | -US$248m |
| Dec 31 2020 | US$1m | US$588k | -US$256m |
| Sep 30 2020 | n/a | n/a | US$83m |
| Jun 30 2020 | n/a | n/a | US$33m |
| Mar 31 2020 | n/a | n/a | -US$6m |
| Dec 31 2019 | US$1m | US$700k | -US$53m |
Compensation vs Market: Drew's total compensation ($USD2.17M) is below average for companies of similar size in the US market ($USD8.54M).
Compensation vs Earnings: Drew's compensation has increased by more than 20% in the past year.
CEO
Drew Houston (42 yo)
Mr. Andrew W. Houston, also known as Drew, co-founded Dropbox Inc. and has been its Chief Executive Officer and Director since June 2007 and also serves as its Chairman. He served as President of Dropbox I...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Co-Founder | 18.9yrs | US$2.17m | 35.17% $ 2.1b | |
| Chief Financial Officer | less than a year | US$372.92k | 0.34% $ 19.9m | |
| Chief Technology Officer | 1.2yrs | US$17.20m | 0.017% $ 1.0m | |
| Chief Legal Officer | 1.2yrs | US$5.94m | 0.16% $ 9.7m | |
| GM & Senior VP of Core Products | 1.5yrs | US$17.26m | 0.27% $ 16.1m | |
| Chief Accounting Officer | less than a year | no data | 0.058% $ 3.4m | |
| Chief Communications Officer | no data | no data | no data | |
| Chief People Officer | 6.8yrs | no data | no data | |
| Chief Business Officer | less than a year | no data | no data |
Experienced Management: DBX's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Co-Founder | 18.9yrs | US$2.17m | 35.17% $ 2.1b | |
| Independent Director | 10.1yrs | US$320.65k | 0.13% $ 7.8m | |
| Independent Director | 1.3yrs | US$386.29k | 0.0011% $ 68.4k | |
| Independent Director | 6.8yrs | US$334.39k | 0.0045% $ 268.9k | |
| Independent Director | 5.4yrs | US$310.00k | 0.020% $ 1.2m | |
| Independent Director | 4.2yrs | US$310.00k | 0.013% $ 755.6k | |
| Independent Director | 2.4yrs | US$312.50k | no data | |
| Lead Independent Director | 6.8yrs | US$323.30k | 0.0054% $ 320.7k |
Experienced Board: DBX's board of directors are considered experienced (6.1 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/03 02:24 |
| End of Day Share Price | 2026/05/01 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
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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 21 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Edward Magi | Berenberg |
| Zane Chrane | Bernstein |
| Matthew Bullock | BofA Global Research |