Growth Metrics

Dropbox (DBX) FCF Margin (2017 - 2025)

Dropbox (DBX) has disclosed FCF Margin for 9 consecutive years, with 35.35% as the latest value for Q4 2025.

  • For the quarter ending Q4 2025, FCF Margin rose 264.0% year-over-year to 35.35%, compared with a TTM value of 36.92% through Dec 2025, up 272.0%, and an annual FY2025 reading of 36.92%, up 272.0% over the prior year.
  • FCF Margin was 35.35% for Q4 2025 at Dropbox, down from 46.3% in the prior quarter.
  • Across five years, FCF Margin topped out at 46.3% in Q3 2025 and bottomed at 21.27% in Q1 2021.
  • Average FCF Margin over 5 years is 33.36%, with a median of 34.03% recorded in 2024.
  • The sharpest move saw FCF Margin skyrocketed 1566bps in 2021, then plummeted -630bps in 2023.
  • Year by year, FCF Margin stood at 28.54% in 2021, then increased by 6bps to 30.34% in 2022, then fell by -1bps to 29.97% in 2023, then grew by 9bps to 32.71% in 2024, then grew by 8bps to 35.35% in 2025.
  • Business Quant data shows FCF Margin for DBX at 35.35% in Q4 2025, 46.3% in Q3 2025, and 41.31% in Q2 2025.