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Dropbox DBX Gross margin

Gross margin at other companies

Apple logo
AppleAAPL
47.9%+1.2pp
Microsoft logo
MicrosoftMSFT
68.3%-0.8pp
Adobe logo
AdobeADBE
89.4%+0.2pp
Amazon logo
AmazonAMZN
50.6%+1.4pp
DocuSign logo
DocuSignDOCU
79.4%+0.2pp
Box logo
BoxBOX
79.6%+0.5pp

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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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.

Based on trailing twelve months.

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 gross margin?
Dropbox (DBX) reported gross margin of 79.7% in Q1 2026.
How has Dropbox's gross margin changed year-over-year?
Dropbox's gross margin decreased by 2.8% year-over-year, from 82.1% to 79.7%.
What is the long-term trend for Dropbox's gross margin?
Over 5 years (2020 to 2025), Dropbox's gross margin has grown at a 0.5% compound annual growth rate (CAGR), from 78.3% to 80.1%.
What does gross margin mean?
Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.