Dropbox (DBX) Invested Capital (2017 - 2026)

Dropbox has reported Invested Capital for 10 years, with the latest figure at -$1.7 billion in Q1 2026.

• For the quarter ending Q1 2026, Invested Capital fell 129.65% year-over-year to -$1.7 billion; the trailing twelve-month figure through Mar 2026 stood at -$1.7 billion (down 129.65% YoY), and the FY2025 full-year result was -$1.5 billion, down 241.02% from the prior year.
• Invested Capital for Q1 2026 stood at -$1.7 billion, down from -$1.5 billion in the prior quarter.
• The five-year high for Invested Capital was $118.9 million in Q4 2023, with the low at -$1.7 billion in Q1 2026.
• Historically, Invested Capital has averaged -$463.2 million across 5 years, with a median of -$237.3 million in 2024.
• Annual changes were most pronounced in 2023 — Invested Capital soared 377.16% — and 2025, when it slumped 35290.48%.
• Dropbox's Invested Capital stood at -$42.9 million in 2022, then soared by 377.16% to $118.9 million in 2023, then plunged by 457.95% to -$425.6 million in 2024, then slumped by 241.02% to -$1.5 billion in 2025, then dropped by 16.93% to -$1.7 billion in 2026.
• The last three Invested Capital figures came in at -$1.7 billion (Q1 2026), -$1.5 billion (Q4 2025), and -$1.2 billion (Q3 2025), per Business Quant data.