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

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	79.7%-2.3pp	80.1%-2.4pp	80.6%-1.8pp	81.3%-0.7pp	82.1%+0.6pp
Operating margin	26.8%+6.1pp	27.3%+8.3pp	24.3%-1.9pp	22.4%—	20.7%—
Net margin	18.7%+0.2pp	20.2%+2.4pp	19.9%-2.8pp	19.2%-3.9pp	18.5%-2.0pp
Free cash flow margin	38.8%+5.0pp	36.9%+2.7pp	36.2%+2.7pp	35.2%+2.6pp	33.8%+2.6pp
Returns
Return on assets	15.8%-0.6pp	16.5%+2.1pp	18.7%-1.9pp	17.7%-3.0pp	16.3%-1.5pp
Efficiency
Asset turnover	0.8×0.0×	0.8×0.0×	0.9×0.0×	0.9×0.0×	0.9×0.0×
Liquidity
Current ratio	1.2×+0.5×	0.6×-0.8×	0.6×-0.3×	0.6×-0.4×	0.7×-0.4×
Quick ratio	1.2×+0.5×	0.6×-0.8×	0.6×-0.3×	0.6×-0.4×	0.7×-0.4×
Cash ratio	1×+0.5×	0.5×-0.6×	0.4×0.0×	0.4×0.0×	0.5×+0.1×
Leverage
Debt-to-assets	0.3×-0.2×	0.6×+0.3×	0.6×-0.3×	0.5×-0.2×	0.5×-0.3×
Per Share
Book value per share	-$8.50-134%	-$6.59-183%	-$5.78-235%	-$4.72-311%	-$3.64-347%
Valuation
Market capitalization	$5.29B-32.5%	$6.96B-23.1%	$8.15B+1.2%	$7.88B+9.0%	$7.84B-6.3%
Enterprise value	$4.91B-41.1%	$7.65B-9.6%	$8.97B-7.4%	$8.62B-2.5%	$8.34B-16.2%
Price / earnings	11.2×-5.5×	13.7×-6.3×	16.2×+2.3×	16.2×+3.9×	16.7×+0.5×
Price / sales	2.1×-1.0×	2.8×-0.8×	3.2×+0.1×	3.1×+0.3×	3.1×-0.2×
EV / sales	1.9×-1.3×	3×-0.3×	3.5×-0.3×	3.4×-0.1×	3.3×-0.7×
Free cash flow yield	18.5%+7.6pp	13.4%+3.7pp	11.2%+0.7pp	11.3%-0.1pp	11%+1.5pp
Earnings yield	8.9%+2.9pp	7.3%+2.3pp	6.2%-1.0pp	6.2%-1.9pp	6%-0.2pp

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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.