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Dropbox DBX Operating margin

Operating margin at other companies

Apple logo
AppleAAPL
33.2%+1.3pp
Microsoft logo
MicrosoftMSFT
46.8%+1.2pp
Adobe logo
AdobeADBE
36.1%-0.3pp
Amazon logo
AmazonAMZN
12.1%+0.7pp
DocuSign logo
DocuSignDOCU
10.6%+2.8pp
Box logo
BoxBOX
8.6%+2.5pp

Other financials

Income statement

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Revenue$631.5M+0.9%
Gross profit$506.5M+0.9%
Operating income$164.8M-2.1%
Net income$95.8M-23.7%
EPS (diluted)$0.42-6.7%

Balance sheet

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Cash & equivalents$1.1B+38.9%
Total debt$804.1M-46.7%
Total equity-$2.2B-67.6%
Total assets$2.8B+1.7%

Cash flow

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Operating cash flow$238.5M-8.4%
CapEx$3.3M+65.0%
Free cash flow$235.2M-9.0%

Valuation

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Market cap$8.06B+11.3%
Enterprise value$7.79B-2.4%
P/E18.2×+3.3×
P/S3.2×+0.3×

Profitability

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Gross margin79.7%-1.6pp
Net margin17.5%-1.7pp
FCF margin37.8%+2.6pp

Returns & leverage

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Return on equity-44.9%
Debt / equity3.7×
Current ratio1.1×+0.5×

Where this comes from

Calculated from Dropbox’s reported figures.

Based on trailing twelve months.

The source filing: Dropbox’s 10-Q, filed August 7, 2026. Open the filing →

Filed
Aug 7, 2026, 4:06 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001467623-26-000049

FAQ

What is Dropbox's operating margin?
Dropbox (DBX) reported operating margin of 26.6% in Q2 2026.
How has Dropbox's operating margin changed year-over-year?
Dropbox's operating margin increased by 18.8% year-over-year, from 22.4% to 26.6%.
What is the long-term trend for Dropbox's operating margin?
Over 4 years (2020 to 2025), Dropbox's operating margin has grown at a 17.2% compound annual growth rate (CAGR), from -14.5% to 27.3%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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