What is Dropbox's price / earnings?

Dropbox (DBX) reported price / earnings of 11.2× in Q1 2026.

How has Dropbox's price / earnings changed year-over-year?

Dropbox's price / earnings decreased by 32.8% year-over-year, from 16.7× to 11.2×.

What is the long-term trend for Dropbox's price / earnings?

Over 4 years (2021 to 2025), Dropbox's price / earnings has grown at a -16.3% compound annual growth rate (CAGR), from 28× to 13.7×.

What does price / earnings mean?

Market capitalization at the quarter end divided by trailing-twelve-month net income. The price the market pays for each dollar of trailing earnings.

Dropbox DBX Price / earnings

Price / earnings at other companies

AppleAAPL

30.4×-3.9×

MicrosoftMSFT

22×-6.9×

AdobeADBE

14.5×-11.1×

AmazonAMZN

28.3×-2.3×

DocuSignDOCU

28.3×+13.4×

BoxBOX

26.8×+8.0×

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%—

Debt / equity3.7×—

Current ratio1.2×+0.5×

Where this comes from

Calculated from Dropbox’s reported figures.

market cap/net income=11.2×

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 price / earnings?: Dropbox (DBX) reported price / earnings of 11.2× in Q1 2026.
How has Dropbox's price / earnings changed year-over-year?: Dropbox's price / earnings decreased by 32.8% year-over-year, from 16.7× to 11.2×.
What is the long-term trend for Dropbox's price / earnings?: Over 4 years (2021 to 2025), Dropbox's price / earnings has grown at a -16.3% compound annual growth rate (CAGR), from 28× to 13.7×.
What does price / earnings mean?: Market capitalization at the quarter end divided by trailing-twelve-month net income. The price the market pays for each dollar of trailing earnings.