Dropbox, Inc. (DBX) stock
DBXNasdaqServices-Prepackaged SoftwareFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 6, 2026Score 11/3029% below fair value
$33.51+0.35 (+1.06%)
Close on Nov 12, 2026Market cap $7.56BP/E 18.1Yield –
Dropbox operating margin
Operating margin is operating income as a percentage of revenue.
Dropbox's operating margin for the twelve months ending Sep 30, 2026 was 26.6%. For fiscal 2025 it was 27.3%, against 19.1% the year before. The highest annual figure on record is 27.3% in fiscal 2025.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 27.3% | +8.3 |
| FY2024 | Dec 31, 2024 | 19.1% | −2.5 |
| FY2023 | Dec 31, 2023 | 21.5% | +13.7 |
| FY2022 | Dec 31, 2022 | 7.8% | −4.9 |
| FY2021 | Dec 31, 2021 | 12.7% | +27.2 |
| FY2020 | Dec 31, 2020 | -14.5% | −9.6 |
| FY2019 | Dec 31, 2019 | -4.8% | +30.7 |
| FY2018 | Dec 31, 2018 | -35.5% | −25.2 |
| FY2017 | Dec 31, 2017 | -10.3% | +12.6 |
| FY2016 | Dec 31, 2016 | -22.9% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 27.5% | −0.0 |
| Q2 FY2026 | Jun 30, 2026 | 26.1% | −0.8 |
| Q1 FY2026 | Mar 31, 2026 | 27.5% | −2.0 |
| Q4 FY2025 | Dec 31, 2025 | 25.5% | +11.8 |
| Q3 FY2025 | Sep 30, 2025 | 27.5% | +7.5 |
| Q2 FY2025 | Jun 30, 2025 | 26.9% | +6.9 |
| Q1 FY2025 | Mar 31, 2025 | 29.4% | +6.7 |
| Q4 FY2024 | Dec 31, 2024 | 13.7% | −28.5 |
| Q3 FY2024 | Sep 30, 2024 | 20.0% | −0.6 |
| Q2 FY2024 | Jun 30, 2024 | 20.0% | +10.9 |
| Q1 FY2024 | Mar 31, 2024 | 22.7% | +9.0 |
| Q4 FY2023 | Dec 31, 2023 | 42.1% | +55.5 |
| Q3 FY2023 | Sep 30, 2023 | 20.6% | +5.5 |
| Q2 FY2023 | Jun 30, 2023 | 9.1% | −5.4 |
| Q1 FY2023 | Mar 31, 2023 | 13.8% | −2.2 |
| Q4 FY2022 | Dec 31, 2022 | -13.4% | −25.8 |
| Q3 FY2022 | Sep 30, 2022 | 15.1% | +1.1 |
| Q2 FY2022 | Jun 30, 2022 | 14.5% | −1.4 |
| Q1 FY2022 | Mar 31, 2022 | 15.9% | +7.6 |
| Q4 FY2021 | Dec 31, 2021 | 12.4% | +81.2 |
| Q3 FY2021 | Sep 30, 2021 | 14.0% | +7.9 |
| Q2 FY2021 | Jun 30, 2021 | 15.9% | +13.2 |
| Q1 FY2021 | Mar 31, 2021 | 8.3% | +2.4 |
| Q4 FY2020 | Dec 31, 2020 | -68.8% | −67.3 |
| Q3 FY2020 | Sep 30, 2020 | 6.2% | +10.5 |
| Q2 FY2020 | Jun 30, 2020 | 2.7% | +11.2 |
| Q1 FY2020 | Mar 31, 2020 | 5.9% | +11.4 |
| Q4 FY2019 | Dec 31, 2019 | -1.5% | +1.7 |
| Q3 FY2019 | Sep 30, 2019 | -4.3% | −1.9 |
| Q2 FY2019 | Jun 30, 2019 | -8.5% | −6.3 |
| Q1 FY2019 | Mar 31, 2019 | -5.5% | +141.8 |
| Q4 FY2018 | Dec 31, 2018 | -3.2% | +9.0 |
| Q3 FY2018 | Sep 30, 2018 | -2.5% | +3.2 |
| Q2 FY2018 | Jun 30, 2018 | -2.1% | +7.9 |
| Q1 FY2018 | Mar 31, 2018 | -147.3% | −133.8 |
| Q4 FY2017 | Dec 31, 2017 | -12.2% | – |
| Q3 FY2017 | Sep 30, 2017 | -5.7% | – |
| Q2 FY2017 | Jun 30, 2017 | -10.0% | – |
| Q1 FY2017 | Mar 31, 2017 | -13.5% | – |
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