Dropbox (DBX) FCF Margin (2017 - 2026)
Dropbox's FCF Margin was 37.24% in Q2 2026, down 4.07 percentage points from 41.31% a year earlier but up 4.95 percentage points from the prior quarter.
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Analysis
Dropbox (DBX) FCF Margin (2017 - 2026) Analysis & Trends
On a trailing twelve-month basis, Dropbox's FCF Margin was 37.81% through Jun 30, 2026, up 2.56 percentage points year-over-year; for FY2025, it was 36.92%, up 2.72 percentage points from FY2024.
- FCF Margin shows a five-year change of +11.28 percentage points (FY2020 to FY2025).
- In earlier years, FCF Margin was 34.20% in FY2024 (+3.85 pp), 30.36% in FY2023 (-2.48 pp), 32.84% in FY2022 (+0.04 pp) and 32.80% in FY2021 (+7.16 pp).
- Quarterly FCF Margin has moved between 22.58% (Q1 2023) and 46.30% (Q3 2025) over five years.
- Compared with a year earlier, FCF Margin was higher in six of the last eight quarters, with an average year-over-year change of +2.57 percentage points.
- The best year-over-year quarter for FCF Margin over five years was Q1 2026 (a gain of 7.69 percentage points); the worst was Q2 2023 (a drop of 6.30 percentage points).
- Per Business Quant data, DBX's FCF Margin in the three quarters before Q2 2026 was 32.30% (Q1 2026), 35.35% (Q4 2025) and 46.30% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Adobe | 91.17 Bn | 66.42 Bn | 6.00 Bn | 36.07% |
| 2 | Atlassian | 45.78 Bn | 39.06 Bn | 1.53 Bn | 26.87% |
| 3 | Twilio | 44.66 Bn | 34.66 Bn | 725.87 Mn | 24.64% |
| 4 | Autodesk | 42.46 Bn | 30.50 Bn | 1.87 Bn | 27.42% |
| 5 | Zoom Communications | 25.83 Bn | -4.96 Bn | 985.50 Mn | - |
| 6 | Figma | 11.00 Bn | 4.50 Bn | 309.61 Mn | - |
| 7 | Dropbox | 7.18 Bn | 2.82 Bn | 506.50 Mn | 37.24% |
| 8 | Nice | 6.45 Bn | 4.92 Bn | 995.81 Mn | 20.58% |
| 9 | RingCentral | 6.23 Bn | 5.73 Bn | 472.31 Mn | 29.81% |
| 10 | Open Text | 5.40 Bn | 835.18 Mn | 1.01 Bn | 9.04% |
Historic Data
Download Data
Historic 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% |
API Access
Dropbox FCF 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=fcf-margin&ticker=DBX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-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=fcf-margin&ticker=DBX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();