What are Dropbox's profit margins?

Dropbox (DBX) runs a 79.7% gross margin and a 26.8% operating margin, with a 18.7% net margin.

Where do Dropbox's ratios come from?

Every ratio is computed from Dropbox's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Dropbox DBX Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	79.7%-0.4pp	80.1%-0.5pp	80.6%-0.7pp	81.3%-0.7pp	82.1%-0.5pp
Operating margin	26.8%-0.5pp	27.3%+3.0pp	24.3%+1.9pp	22.4%+1.7pp	20.7%+1.6pp
Net margin	18.7%-1.5pp	20.2%+0.3pp	19.9%+0.7pp	19.2%+0.7pp	18.5%+0.8pp
Free cash flow margin	38.8%+1.9pp	36.9%+0.7pp	36.2%+1.0pp	35.2%+1.5pp	33.8%-0.4pp
Returns
Return on assets	15.8%-0.7pp	16.5%-2.2pp	18.7%+1.0pp	17.7%+1.3pp	16.3%+2.0pp
Efficiency
Asset turnover	0.8×0.0×	0.8×-0.1×	0.9×0.0×	0.9×0.0×	0.9×+0.1×
Liquidity
Current ratio	1.2×+0.6×	0.6×+0.1×	0.6×0.0×	0.6×-0.1×	0.7×-0.7×
Quick ratio	1.2×+0.6×	0.6×+0.1×	0.6×0.0×	0.6×-0.1×	0.7×-0.7×
Cash ratio	1×+0.6×	0.5×+0.1×	0.4×0.0×	0.4×-0.1×	0.5×-0.6×
Leverage
Debt-to-assets	0.3×-0.3×	0.6×0.0×	0.6×0.0×	0.5×0.0×	0.5×+0.3×
Per Share
Book value per share	-$8.50-29.0%	-$6.59-14.1%	-$5.78-22.4%	-$4.72-29.7%	-$3.64-56.4%
Valuation
Market capitalization	$5.29B-24.0%	$6.96B-14.6%	$8.15B+3.5%	$7.88B+0.5%	$7.84B-13.5%
Enterprise value	$4.91B-35.8%	$7.65B-14.7%	$8.97B+4.1%	$8.62B+3.4%	$8.34B-1.5%
Price / earnings	11.2×-2.5×	13.7×-2.5×	16.2×0.0×	16.2×-0.4×	16.7×-3.4×
Price / sales	2.1×-0.7×	2.8×-0.5×	3.2×+0.1×	3.1×0.0×	3.1×-0.5×
EV / sales	1.9×-1.1×	3×-0.5×	3.5×+0.1×	3.4×+0.1×	3.3×0.0×
Free cash flow yield	18.5%+5.2pp	13.4%+2.1pp	11.2%-0.1pp	11.3%+0.4pp	11%+1.3pp
Earnings yield	8.9%+1.6pp	7.3%+1.1pp	6.2%0.0pp	6.2%+0.2pp	6%+1.0pp
PEG ratio	22.9×+21.8×	1.1×—	——	——	——

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Questions, answered.

What are Dropbox's profit margins?: Dropbox (DBX) runs a 79.7% gross margin and a 26.8% operating margin, with a 18.7% net margin.
Where do Dropbox's ratios come from?: Every ratio is computed from Dropbox's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.