Dropbox (DBX) FCF Margin (2017 - 2026)
Dropbox's (DBX) quarterly FCF Margin came in at 32.3% in Q1 2026, up 769.0% YoY from 3.72% in Q1 2025, and down 8.64% on a QoQ basis from 35.35% in Q4 2025.
Dropbox (DBX) FCF Margin (2017 - 2026) Analysis & Trends
Dropbox (DBX) has 10 years of FCF Margin data on file, last reported at 32.3% in Q1 2026.
- Quarterly FCF Margin rose 769.0% year-over-year to 32.3% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 38.82% (up 502.0% YoY) and the FY2025 annual result came in at 36.92%, up 272.0% from the prior year.
- FCF Margin fell to 32.3% in Q1 2026, from 35.35% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 46.3% in Q3 2025 to a low of 22.58% in Q1 2023.
- A 5-year average of 33.46% and a median of 32.71% in 2024 frame the typical range for FCF Margin.
- Annual changes were most pronounced in 2023 — FCF Margin plunged 630 bps — and 2026, when it surged 769 bps.
- Tracing DBX's FCF Margin over 5 years: stood at 30.34% in 2022, then dropped by 1 bps to 29.97% in 2023, then increased by 9 bps to 32.71% in 2024, then advanced by 8 bps to 35.35% in 2025, then decreased by 9 bps to 32.3% in 2026.
- The last three FCF Margin figures came in at 32.3% (Q1 2026), 35.35% (Q4 2025), and 46.3% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 21.82% |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 62.08% |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | -9.76% |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 26.25% |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 47.15% |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 9.71% |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 32.19% |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | -223.03% |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | -114.17% |
| 10 | Dropbox | 7.61 Bn | 6.50 Bn | 506.50 Mn | 37.24% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 37.24% |
| Mar 31, 2026 | 32.30% |
| Dec 31, 2025 | 35.35% |
| Sep 30, 2025 | 46.30% |
| Jun 30, 2025 | 41.31% |
| Mar 31, 2025 | 24.60% |
| Dec 31, 2024 | 32.71% |
| Sep 30, 2024 | 42.28% |
| Jun 30, 2024 | 35.41% |
| Mar 31, 2024 | 26.34% |
| Dec 31, 2023 | 29.97% |
| Sep 30, 2023 | 38.94% |
| Jun 30, 2023 | 29.65% |
| Mar 31, 2023 | 22.58% |
| Dec 31, 2022 | 30.34% |
| Sep 30, 2022 | 41.49% |
| Jun 30, 2022 | 35.95% |
| Mar 31, 2022 | 23.24% |
| Dec 31, 2021 | 28.54% |
| Sep 30, 2021 | 40.26% |