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MARKETS / NASDAQ / DBX
NASDAQ · SERVICES-PREPACKAGED SOFTWARE · LARGE CAP

Dropbox, Inc. DBX

10 fiscal years on record · USD · FY2025 reported · SEC filings only
$2.5B
▼ 1.1% YoY
$508.4M
▲ 12.4% YoY
$930.8M
▲ 6.8% YoY
In brief

What this company does

It offers a range of subscription plans for its users, including a free Basic plan, paid Personal plans, and Business plans. It generates over 90% of its revenue from self-serve channels, meaning users who purchase a subscription through its app or website. In 2025, 2024, and 2023, no customer accounted for more than 1% of its revenue. It has datacenter co-location facilities in Oregon, Texas, Virginia, Paris and Hamburg. As of December 31, 2025, it had 2,113 full-time employees, of whom 1,612 were located in the United States and 501 were located outside of the United States. Dropbox, Inc. was incorporated in May 2007 as Evenflow, Inc., a Delaware corporation, changed its name to Dropbox, Inc. in October 2009, and reincorporated in the state of Nevada in March 2025.

Written from the business description in DROPBOX, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 20 February 2026. Every sentence was checked against that document before publication.

Growth
USD 2.5B
Revenue, FY2025 · full 10-year series below
Revenue $B Net income $B
FY2025 · Revenue 2.5 · Net income 0.5
1.0B2.0B-0.2B-0.4B2016201720182019202020212022202320242025
Compound annual growth
+2.7%
+5.7%
−2.8%
+7.0%
+29.2%
+34.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +5.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
20 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 27.3% · Net 20.2%
10%20%-10%-20%-30%2016201720182019202020212022202320242025
ROE
FY2021 · ROE 1683.2%
500%1000%1500%2016201720182019202020212022202320242025

Cash & shareholders
USD 1.7B
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 930.8
400M800M2016201720182019202020212022202320242025
Net buybacks $B Dividends $B
FY2025 · Dividends — · Net buybacks 1.7
0.8B1.6B20182019202020212022202320242025

USD 1.7B in buybacks — 337% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 2.8B
EquityUSD -1.8B
CashUSD 891.3M
Current ratio0.63×

Equity funds -63% of total assets.

The 10-year record
10 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016
Revenue $B2.52.52.52.32.21.91.71.41.10.8
Operating income $B0.70.50.50.20.3−0.3−0.1−0.5−0.1−0.2
EBITDA $B0.80.60.70.30.4−0.10.1−0.30.1−0.0
Income tax $B0.10.10.1−0.4−0.00.00.00.00.00.0
Net income $B0.50.50.50.60.3−0.3−0.1−0.5−0.1−0.2
Free cash flow $B0.90.90.80.80.70.50.40.40.30.1
EPS, diluted $1.861.401.311.520.85−0.62−0.13−1.35−0.57−1.11
Dividend / sh $··········
Payout %··········
ROE %····1683.2−44.9−7.1−124.4−99.0−171.2

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 48 reconciliationsAUDITED

Reconciled in 10 of 19 fiscal years. 47 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Prepackaged Software
Listed onNASDAQ
Incorporated inNevada
Fiscal year endsDecember 31
Data on record since2016

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