Dropbox (DBX) FCF Margin (2017 - 2026)
Dropbox (DBX) reported FCF Margin of 32.3% for Q1 2026, up 769.0% on a YoY basis from 3.72% in Q1 2025, and down 8.64% quarter-over-quarter from 35.35% in Q4 2025.
Dropbox (DBX) FCF Margin (2017 - 2026) Analysis & Trends
Dropbox has reported FCF Margin for 10 years, with the latest figure at 32.3% in Q1 2026.
- For the quarter ending Q1 2026, FCF Margin rose 769.0% year-over-year to 32.3%; the trailing twelve-month figure through Mar 2026 stood at 38.82% (up 502.0% YoY), and the FY2025 full-year result was 36.92%, up 272.0% from the prior year.
- FCF Margin for Q1 2026 stood at 32.3%, down from 35.35% in the prior quarter.
- The five-year high for FCF Margin was 46.3% in Q3 2025, with the low at 22.58% in Q1 2023.
- Historically, FCF Margin has averaged 33.76% across 5 years, with a median of 35.35% in 2025.
- Annual changes were most pronounced in 2023 — FCF Margin plunged 630 bps — and 2026, when it surged 769 bps.
- Dropbox's FCF Margin stood at 35.55% in 2022, then dropped by 16 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.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,998.30 Bn | 2,920.03 Bn | 56.06 Bn | 19.07% |
| 2 | Alarum Technologies | 1,040.72 Bn | 1,026.57 Bn | 7.23 Mn | - |
| 3 | Oracle | 590.32 Bn | 551.74 Bn | 15.14 Bn | 55.23% |
| 4 | Palantir Technologies | 316.31 Bn | 308.39 Bn | 1.42 Bn | 54.62% |
| 5 | Palo Alto Networks | 181.17 Bn | 176.63 Bn | 1.91 Bn | 14.80% |
| 6 | CrowdStrike Holdings | 161.69 Bn | 158.63 Bn | 993.68 Mn | 30.29% |
| 7 | Fortinet | 102.35 Bn | 99.06 Bn | 1.49 Bn | 55.21% |
| 8 | Synopsys | 88.25 Bn | 88.13 Bn | 1.77 Bn | 34.10% |
| 9 | Cloudflare | 83.26 Bn | 82.32 Bn | 455.60 Mn | 14.55% |
| 10 | Dropbox | 6.44 Bn | 5.16 Bn | 501.40 Mn | 32.30% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 | 35.55% |
| 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% |
| Jun 30, 2021 | 40.71% |