Dropbox (DBX) EBITDA Margin (2017 - 2026)
Dropbox (DBX) reported EBITDA Margin of 27.45% for Q1 2026, down 197.0% on a YoY basis from 28.3% in Q1 2025, and up 7.67% quarter-over-quarter from 25.5% in Q4 2025.
Dropbox (DBX) EBITDA Margin (2017 - 2026) Analysis & Trends
Dropbox has reported EBITDA Margin for 10 years, with the latest figure at 27.45% in Q1 2026.
- For the quarter ending Q1 2026, EBITDA Margin fell 197.0% year-over-year to 27.45%; the trailing twelve-month figure through Mar 2026 stood at 26.85% (up 613.0% YoY), and the FY2025 full-year result was 27.33%, up 825.0% from the prior year.
- EBITDA Margin for Q1 2026 stood at 27.45%, up from 25.5% in the prior quarter.
- The five-year high for EBITDA Margin was 42.11% in Q4 2023, with the low at 13.43% in Q4 2022.
- Historically, EBITDA Margin has averaged 19.46% across 5 years, with a median of 20.02% in 2024.
- Annual changes were most pronounced in 2023 — EBITDA Margin jumped 5554 bps — and 2024, when it sank 2845 bps.
- Dropbox's EBITDA Margin stood at 13.43% in 2022, then soared by 414 bps to 42.11% in 2023, then slumped by 68 bps to 13.66% in 2024, then surged by 87 bps to 25.5% in 2025, then increased by 8 bps to 27.45% in 2026.
- The last three EBITDA Margin figures came in at 27.45% (Q1 2026), 25.5% (Q4 2025), and 27.54% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,998.30 Bn | 2,920.03 Bn | 56.06 Bn | 46.33% |
| 2 | Alarum Technologies | 1,040.72 Bn | 1,026.57 Bn | 7.23 Mn | 3.18% |
| 3 | Oracle | 590.32 Bn | 551.74 Bn | 15.14 Bn | 31.79% |
| 4 | Palantir Technologies | 316.31 Bn | 308.39 Bn | 1.42 Bn | 46.18% |
| 5 | Palo Alto Networks | 181.17 Bn | 176.63 Bn | 1.91 Bn | 15.30% |
| 6 | CrowdStrike Holdings | 161.69 Bn | 158.63 Bn | 993.68 Mn | 1.06% |
| 7 | Fortinet | 102.35 Bn | 99.06 Bn | 1.49 Bn | 31.36% |
| 8 | Synopsys | 88.25 Bn | 88.13 Bn | 1.77 Bn | 8.43% |
| 9 | Cloudflare | 83.26 Bn | 82.32 Bn | 455.60 Mn | -9.69% |
| 10 | Dropbox | 6.44 Bn | 5.16 Bn | 501.40 Mn | 27.45% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 27.45% |
| Dec 31, 2025 | 25.50% |
| Sep 30, 2025 | 27.54% |
| Jun 30, 2025 | 26.91% |
| Mar 31, 2025 | 29.42% |
| Dec 31, 2024 | 13.66% |
| Sep 30, 2024 | 20.01% |
| Jun 30, 2024 | 20.02% |
| Mar 31, 2024 | 22.73% |
| Dec 31, 2023 | 42.11% |
| Sep 30, 2023 | 20.65% |
| Jun 30, 2023 | 9.08% |
| Mar 31, 2023 | 13.76% |
| Dec 31, 2022 | -13.43% |
| Sep 30, 2022 | 15.11% |
| Jun 30, 2022 | 14.48% |
| Mar 31, 2022 | 15.91% |
| Dec 31, 2021 | 12.41% |
| Sep 30, 2021 | 14.05% |
| Jun 30, 2021 | 15.91% |