What is Dropbox's EV / sales?

Dropbox (DBX) reported EV / sales of 1.9× in Q1 2026.

How has Dropbox's EV / sales changed year-over-year?

Dropbox's EV / sales decreased by 40.7% year-over-year, from 3.3× to 1.9×.

What is the long-term trend for Dropbox's EV / sales?

Over 5 years (2020 to 2025), Dropbox's EV / sales has grown at a -9.2% compound annual growth rate (CAGR), from 4.9× to 3×.

What does EV / sales mean?

Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.

Dropbox DBX EV / sales

EV / sales at other companies

AppleAAPL

8.3×-0.2×

MicrosoftMSFT

8.9×-1.7×

AdobeADBE

4.2×-3.6×

AmazonAMZN

3.2×0.0×

DocuSignDOCU

2.7×-2.7×

BoxBOX

2.9×-1.1×

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$6.2B-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%—

Debt / equity3.7×—

Current ratio1.2×+0.5×

Where this comes from

Calculated from Dropbox’s reported figures.

enterprise value/total revenue=1.9×

Based on the most recent quarter.

The official record: Dropbox’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Dropbox's EV / sales?: Dropbox (DBX) reported EV / sales of 1.9× in Q1 2026.
How has Dropbox's EV / sales changed year-over-year?: Dropbox's EV / sales decreased by 40.7% year-over-year, from 3.3× to 1.9×.
What is the long-term trend for Dropbox's EV / sales?: Over 5 years (2020 to 2025), Dropbox's EV / sales has grown at a -9.2% compound annual growth rate (CAGR), from 4.9× to 3×.
What does EV / sales mean?: Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.