What does debt-to-equity mean?

Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.

Dropbox DBX Debt-to-equity

Discontinued — last reported Q4 '20

Debt-to-equity at other companies

AppleAAPL

0.8×-0.6×

MicrosoftMSFT

0.3×0.0×

AdobeADBE

0.6×0.0×

AmazonAMZN

0.5×0.0×

DocuSignDOCU

0.1×0.0×

Alphabet Inc.GOOGL

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Other financials

Income statement

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Revenue$629.5M+0.8%

Gross profit$501.4M-1.3%

Operating income$172.8M-6.0%

Net income$114.5M-23.8%

EPS (diluted)$0.48-5.9%

Balance sheet

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Cash & equivalents$1.2B+25.4%

Total debt$840.2M-43.1%

Total equity-$2.0B-87.0%

Total assets$3.0B+2.5%

Cash flow

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Operating cash flow$204.5M+33.0%

CapEx$1.2M+1,100%

Free cash flow$203.3M+32.3%

Valuation

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Market cap$6.06B-32.5%

Profitability

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Gross margin79.7%-2.3pp

Operating margin26.8%+6.1pp

Net margin18.7%+0.2pp

FCF margin38.8%+5.0pp

Returns & leverage

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Return on equity-44.9%—

Current ratio1.2×+0.5×

Where this comes from

Calculated from Dropbox’s reported figures.

total debt/total stockholders equity=3.7×

Based on the most recent quarter.

The official record: Dropbox’s 10-Q, filed November 4, 2022, on SEC EDGAR. View the filing →

Questions, answered.

What does debt-to-equity mean?: Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.