DBX
$36.36+1.17%
Dropbox Inc.Stock · TechnologyNasdaq Composite · 0.009% of ONEQRussell 1000 · 0.006% of IWBRussell 3000 · 0.006% of IWVUS Stock Market · 0.005% of VTI
DBX financial statements
The full income statement, balance sheet, and cash-flow statement for Dropbox Inc. (DBX), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 323.7M2024-09 316.4M2024-12 312.3M2025-03 295.7M2025-06 276.7M2025-09 265.1M2025-12 253.9M2026-03 236.7M2026-06 225.7M-30.3% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 2.52B-1.1% | 2.55B+1.9% | 2.50B+7.6% | 2.32B+7.7% | 2.16B+12.7% | |
| 2.02B-3.9% | 2.10B+4.0% | 2.02B+7.6% | 1.88B+9.7% | 1.71B+14.3% | ||
| Cost of revenue | 501M+12.5% | 445M-7.0% | 479M+7.7% | 444M+0.0% | 444M+7.1% | |
| 1.33B-17.7% | 1.62B+8.9% | 1.48B-12.7% | 1.70B+18.1% | 1.44B-19.0% | ||
| Research & development | 732M-20.0% | 915M-2.3% | 937M+5.0% | 892M+18.0% | 756M+3.9% | |
| Selling, general & administrative | 231M-4.4% | 241M+1.7% | 237M+6.4% | 223M-0.8% | 225M-1.4% | |
| General & administrative | 231M-4.4% | 241M+1.7% | 237M+6.4% | 223M-0.8% | 225M-1.4% | |
| Selling & marketing | 370M-19.7% | 461M-1.1% | 466M+13.8% | 409M-4.2% | 428M+1.1% | |
| Amortization of intangibles | 25.9M-6.8% | 27.8M-8.6% | 30.4M+86.5% | 16.3M+4.5% | 15.6M+10.6% | |
| Operating income | 689M+41.7% | 486M-9.7% | 539M+197.1% | 181M-33.9% | 274M+199.1% | |
| Other non-operating income | 7.10M-26.8% | 9.70M+362.2% | -3.70M-145.7% | 8.10M-73.1% | 30.1M+19.9% | |
| Gain (loss) on equity securities | 700K+450.0% | -200K | 0.00-100.0% | 5.00M | 0.00-100.0% | |
| Pre-tax income | 618M+21.1% | 510M-8.0% | 554M+187.7% | 193M-35.6% | 299M+219.6% | |
| Income tax | 109M+89.9% | 57.5M-43.0% | 101M+128.0% | -361M-887.7% | -36.5M-698.4% | |
| Net income | 508M+12.4% | 452M-0.3% | 454M-18.0% | 553M+64.7% | 336M+231.0% | |
| $1.86+32.9% | $1.40+6.9% | $1.31-13.8% | $1.52+78.8% | $0.85+237.1% | ||
| EPS (basic) | $1.89+33.1% | $1.42+6.8% | $1.33-13.1% | $1.53+75.9% | $0.87+240.3% | |
| Weighted-avg shares (basic) | 268M-15.7% | 318M-6.7% | 341M-5.5% | 361M-6.9% | 388M-6.3% | |
| Weighted-avg shares (diluted) | 273M-15.6% | 323M-6.4% | 346M-4.9% | 363M-8.2% | 396M-4.5% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.19B-31.5% | 1.74B+14.6% | 1.52B+1.8% | 1.49B-19.5% | 1.85B+50.7% | ||
| Cash & equivalents | 891M-32.9% | 1.33B+116.0% | 615M+164.1% | 233M-56.3% | 533M+69.3% | |
| Cash & short-term investments | 1.04B-34.9% | 1.59B+17.6% | 1.36B+0.9% | 1.34B-21.8% | 1.72B+53.2% | |
| Accounts receivable | 79.1M+12.4% | 70.4M+2.5% | 68.7M+27.7% | 53.8M+8.5% | 49.6M+14.3% | |
| Prepaid expenses | 73.2M-0.8% | 73.8M-19.7% | 91.9M-0.8% | 92.6M+12.8% | 82.1M+30.7% | |
| 2.84B-14.4% | 3.33B+11.5% | 2.98B-4.1% | 3.11B+0.6% | 3.09B+29.5% | ||
| Property, plant & equipment | 378M+5.5% | 359M+16.0% | 309M+0.3% | 308M-4.2% | 322M-4.9% | |
| Operating lease right-of-use | 271M+70.4% | 159M-13.5% | 184M-29.5% | 261M-37.0% | 414M-12.0% | |
| Goodwill | 455M+2.7% | 443M+10.1% | 402M-0.3% | 403M+13.1% | 357M+50.5% | |
| Intangible assets | 33.7M-38.6% | 54.9M-5.5% | 58.1M-34.2% | 88.3M+64.7% | 53.6M+60.0% | |
| Deferred tax assets | 416M-10.9% | 467M+1.4% | 460M-7.7% | 499M+1110.4% | 41.2M | |
| Other non-current assets | 101M-3.5% | 105M+96.8% | 53.2M-12.8% | 61.0M+12.5% | 54.2M-32.3% | |
| 1.89B+56.4% | 1.21B+0.8% | 1.20B+0.4% | 1.20B+1.8% | 1.18B+8.1% | ||
| Accounts payable | 24.3M-33.4% | 36.5M-5.2% | 38.5M-0.3% | 38.6M+50.2% | 25.7M+37.4% | |
| Deferred revenue | 730M+0.3% | 728M+0.4% | 725M+3.2% | 703M+4.6% | 672M+10.0% | |
| Current lease liability | 51.3M-21.0% | 64.9M+13.1% | 57.4M-16.7% | 68.9M-12.0% | 78.3M-11.7% | |
| Finance lease liability (current) | 144M+17.0% | 123M+6.1% | 116M+1.2% | 115M-4.7% | 120M+20.9% | |
| 4.64B+13.8% | 4.08B+29.5% | 3.15B-7.9% | 3.42B+1.0% | 3.39B+64.9% | ||
| Non-current lease liability | 356M+42.1% | 250M-19.4% | 311M-46.9% | 585M-7.4% | 632M-16.8% | |
| Operating lease liability (total) | 407M+29.1% | 315M-14.3% | 368M-43.7% | 654M-7.9% | 710M-16.3% | |
| Finance lease liability (total) | 346M+5.8% | 327M+14.8% | 285M+6.8% | 267M-7.5% | 288M+6.2% | |
| Finance lease liability | 202M-1.0% | 204M+20.8% | 169M+11.1% | 152M-9.5% | 168M-2.3% | |
| Other non-current liabilities | 67.6M-1.2% | 68.4M-24.7% | 90.8M-19.0% | 112M+184.5% | 39.4M+14.5% | |
| -1.80B-138.9% | -752M-353.8% | -166M+46.4% | -309M-5.3% | -294M-188.0% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Additional paid-in capital | 2.01B-16.3% | 2.40B-7.5% | 2.60B+3.4% | 2.51B+2.6% | 2.45B-4.5% | |
| Retained earnings | -3.82B-21.2% | -3.15B-14.7% | -2.74B+1.1% | -2.77B-1.2% | -2.74B-22.2% | |
| Accumulated other comprehensive income | 5.70M+156.4% | -10.1M+53.0% | -21.5M+56.0% | -48.9M-1780.8% | -2.60M-123.9% | |
| Total liabilities & equity | 2.84B-14.4% | 3.33B+11.5% | 2.98B-4.1% | 3.11B+0.6% | 3.09B+29.5% | |
| Common shares issued | — | — | — | — | 293M-9.2% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 952M+6.5% | 894M+14.1% | 784M-1.7% | 797M+9.2% | 730M+27.9% | ||
| Depreciation & amortization | 158M+14.9% | 137M-19.4% | 170M+8.2% | 157M+3.9% | 151M-5.0% | |
| Intangible amortization | 25.9M-6.8% | 27.8M-8.6% | 30.4M+86.5% | 16.3M+4.5% | 15.6M+10.6% | |
| Share-based compensation | 301M-13.2% | 347M+2.5% | 338M+2.2% | 331M+15.2% | 287M+9.8% | |
| Deferred income taxes | 51.7M+1057.4% | -5.40M-114.1% | 38.4M+109.7% | -396M-956.8% | -37.5M-1400.0% | |
| Change in payables | -12.6M-180.0% | -4.50M-475.0% | 1.20M-90.8% | 13.0M+71.1% | 7.60M+138.2% | |
| 112M-74.8% | 444M+12.3% | 395M+914.8% | -48.5M+90.8% | -525M-124.7% | ||
| Capital expenditure | 21.0M-6.7% | 22.5M-7.4% | 24.3M-28.1% | 33.8M+52.9% | 22.1M-72.4% | |
| Free cash flow | 931M+6.8% | 872M+14.8% | 759M-0.5% | 764M+7.9% | 708M+44.2% | |
| Acquisitions | 13.1M-77.3% | 57.8M | 0.00-100.0% | 75.4M-46.1% | 140M | |
| Other investing activities | -2.80M-354.5% | 1.10M+22.2% | 900K+104.6% | -19.6M+51.2% | -40.2M-132.4% | |
| -1.53B-160.9% | -587M+26.6% | -799M+23.3% | -1.04B-6530.9% | 16.2M+102.8% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 100K-88.9% | 900K-64.0% | 2.50M+400.0% | 500K-92.8% | 6.90M+200.0% | |
| Common stock repurchased | 1.71B+38.0% | 1.24B+130.0% | 540M-32.1% | 795M-24.9% | 1.06B+166.3% | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other financing activities | — | — | — | 0.00 | 0.00+100.0% | |
| FX effect on cash | 12.4M+317.5% | -5.70M-337.5% | 2.40M+133.3% | -7.20M-132.3% | -3.10M-175.6% | |
| Net change in cash | -455M-161.0% | 746M+95.1% | 382M+227.3% | -300M-237.6% | 218M+192.3% | |
| Interest paid | 106M+596.7% | 15.2M+44.8% | 10.5M+28.0% | 8.20M-3.5% | 8.50M-11.5% | |
| Income taxes paid | 56.9M-6.7% | 61.0M-10.6% | 68.2M+147.1% | 27.6M+557.1% | 4.20M-16.0% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 7.06B-24.8% | 9.38B-8.0% | 10.2B+26.6% | 8.06B-14.1% | 9.38B+6.4% | |
| P/E | 13.9×-33.1% | 20.7×+12.8% | 18.4×-20.2% | 23.1×-17.5% | 27.9× | |
| P/S | 2.8×-24.0% | 3.7×-11.0% | 4.1×+17.6% | 3.5×-19.1% | 4.3×-5.7% | |
| P/FCF | 7.6×-29.5% | 10.8×-20.8% | 13.6×+25.3% | 10.8×-18.2% | 13.3×-26.3% | |
| Earnings yield | 7.2%+49.4% | 4.8%-11.3% | 5.4%+25.4% | 4.3%+21.2% | 3.6% | |
| FCF yield | 13.2%+41.9% | 9.3%+26.2% | 7.4%-20.2% | 9.2%+22.3% | 7.5%+35.6% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: DBX’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all DBX filings on SEC EDGAR → Not investment advice.