DROPBOX, INC. · Software

DBX

Low riskNext report: Around Nov 5 (est.)

View price ↗

The short version

A profitable company with steady sales.

Going well

Profitable, keeps 20% of sales as profit
Brings in more cash than it spends
Buying back shares: share count down 25% in 3 years

Money moves

Insiders sold $13.2M in the last 30 days, all through pre-planned sales
Institutions cut 0.5% from their holdings in the quarter ending June 2026 (220 bought, 221 sold)
Held by Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$37.73-0.3% that day

Company value: $8.6B; Share price times all shares
Price vs profit (P/E): 21.0x; You pay about $21 for each $1 of yearly profit
Price vs sales: 3.4x; Company value is 3.4 times a year of sales
Cash vs value: 12%; Cash as a share of company value
Debt vs value: 17%; Debt as a share of company value

From DBX's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$631.5M+0.9% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $2.5B, down 0.0% from the 12 months before. Over 5 years, sales grew about 5.7% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of DBX. Starting points are the company's recent numbers.

Sales growth0% a yearRecently: -0.0% a yearProfit margin17%Last 12 months: 17.5%P/E at the end21xToday: 21.0x. Many steady companies trade at 12x to 25xShare count change-5% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$2.5B

Profit in 5 years$430M

Price these guesses point to$51.50+36% vs $37.73 todayAbout +6.4% a year, before dividends

What today's price needs: with a 17% margin and a 21x P/E, sales could shrink about 6.0% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

4/6Mixed

MissDebt under half of equityNot relying on borrowed money.Owes more than it owns
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.20.2%
MissProfitable every yearSteady profits, not one good year.5 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$930.8M
PassShare count not growingNot diluting owners. Falling means buybacks.-24.9% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.80.1%

Revenue: $2.5B; -1.1% vs prior year
5-year growth: +5.7%/yr; revenue, per year
Total debt: $1.4B
Current ratio: 0.63x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 6

Revenue: $631.5M; +0.9% YoY
EPS: $0.42; vs $0.45
Op. margin: 26.1%; -0.8 pts
Gross margin: 80.2%; 0.0 pts
Free cash flow: $235.2M
Share count: -18.0%; vs a year ago

Insider rating

Last 90 days

43Mixed

Pre-planned sales of $13.2M (weaker signal)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 3.5
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Steady-0.5%

Institutions cut 0.5% from their holdings. 220 bought, 221 sold. 6 quarters of net selling in a row.

Shares held by institutions181.2M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-12.9%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

Owes more than it owns

Shares outstandingLatest reported

227M

Earnings reports

Last 12

Next reportAround Nov 5 (est.)Estimated from the same quarter last year

Results filedAug 6
Results filedMay 7
Results filedFeb 19
Results filedNov 6, 2025
Results filedAug 7, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

5%+ holder update (passive)Aug 6 · View filing ↗Big holder 5%+ holder update (passive)Jul 31 · View filing ↗Big holder

Insider trades

Open-market buys and sells, last 90 days

Bought$00 insiders

Sold$13.2M2 insiders, 4 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
Sarah Elizabeth SchubachChief Accounting Officer	Sell	2K	$35.79	$74K	131K	Oct 15Filing ↗
-1.5% of their holdings Pre-planned sale (10b5-1) Filed 4 days after
Andrew HoustonCo-CEO	Sell	30K	$35.09	$1.0M	0	Oct 12Filing ↗
Sold entire stake Held See Footnote Pre-planned sale (10b5-1) Also Director and 10% owner Filed 3 days after
Andrew HoustonCo-CEO	Sell	354K	$34.01	$12.0M	0	Oct 1Filing ↗
Sold entire stake Held See Footnote Pre-planned sale (10b5-1) Also Director and 10% owner Filed 4 days after
Sarah Elizabeth SchubachChief Accounting Officer	Sell	2K	$32.54	$66K	133K	Sep 30Filing ↗
-1.5% of their holdings Pre-planned sale (10b5-1) Filed 2 days after