Dropbox (DBX) EBITDA Margin (2017 - 2026)
Dropbox (DBX) recorded EBITDA Margin of 32.68% in Q2 2026, down 1.55 percentage points from 34.23% a year earlier and down 1.85 percentage points from the prior quarter.
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Analysis
Dropbox (DBX) EBITDA Margin (2017 - 2026) Analysis & Trends
On a TTM basis, Dropbox's EBITDA Margin came in at 33.69% as of Jun 30, 2026, up 4.16 percentage points year-over-year; for FY2025, it was 34.61%, up 8.95 percentage points from FY2024.
- Annual EBITDA Margin has a five-year change of +39.48 percentage points (FY2020 to FY2025).
- Across earlier years, EBITDA Margin came in at 25.66% in FY2024 (-4.22 pp), 29.87% in FY2023 (+13.62 pp), 16.25% in FY2022 (-4.97 pp) and 21.23% in FY2021 (+26.10 pp).
- The Q2 2026 figure is the lowest quarterly EBITDA Margin since Q4 2024.
- On a year-over-year basis, EBITDA Margin rose in four of the last eight quarters, with an average year-over-year change of +0.08 percentage points.
- Peak year-over-year performance for EBITDA Margin in the last five years was a gain of 80.91 percentage points in Q4 2021, against a drop of 29.42 percentage points in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 34.54% (Q1 2026), 32.79% (Q4 2025) and 34.76% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Adobe | 91.17 Bn | 66.42 Bn | 6.00 Bn | 38.00% |
| 2 | Atlassian | 45.78 Bn | 39.06 Bn | 1.53 Bn | 14.16% |
| 3 | Twilio | 44.66 Bn | 34.66 Bn | 725.87 Mn | 8.70% |
| 4 | Autodesk | 42.46 Bn | 30.50 Bn | 1.87 Bn | 40.27% |
| 5 | Zoom Communications | 25.83 Bn | -4.96 Bn | 985.50 Mn | 26.75% |
| 6 | Figma | 11.00 Bn | 4.50 Bn | 309.61 Mn | -31.69% |
| 7 | Dropbox | 7.18 Bn | 2.82 Bn | 506.50 Mn | 32.68% |
| 8 | Nice | 6.45 Bn | 4.92 Bn | 995.81 Mn | 22.89% |
| 9 | RingCentral | 6.23 Bn | 5.73 Bn | 472.31 Mn | 22.32% |
| 10 | Open Text | 5.40 Bn | 835.18 Mn | 1.01 Bn | 34.54% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 32.68% |
| Mar 31, 2026 | 34.54% |
| Dec 31, 2025 | 32.79% |
| Sep 30, 2025 | 34.76% |
| Jun 30, 2025 | 34.23% |
| Mar 31, 2025 | 36.67% |
| Dec 31, 2024 | 20.79% |
| Sep 30, 2024 | 26.74% |
| Jun 30, 2024 | 26.29% |
| Mar 31, 2024 | 28.89% |
| Dec 31, 2023 | 50.20% |
| Sep 30, 2023 | 28.74% |
| Jun 30, 2023 | 17.56% |
| Mar 31, 2023 | 22.47% |
| Dec 31, 2022 | -5.04% |
| Sep 30, 2022 | 23.42% |
| Jun 30, 2022 | 23.01% |
| Mar 31, 2022 | 24.52% |
| Dec 31, 2021 | 21.22% |
| Sep 30, 2021 | 22.59% |
API Access
Dropbox EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=DBX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "DBX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=DBX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();