Dropbox (DBX) Net Margin (2017 - 2026)

Dropbox's Net Margin history runs 10 years deep, the most recent figure standing at 18.19% for Q1 2026.

• Quarterly Net Margin fell 587.0% year-over-year to 18.19% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 18.71% (up 21.0% YoY) and the FY2025 annual result came in at 20.17%, up 242.0% from the prior year.
• Net Margin was 18.19% for Q1 2026 at Dropbox, up from 17.09% in the prior quarter.
• Across five years, Net Margin topped out at 54.83% in Q4 2022 and bottomed at 6.94% in Q2 2023.
• A 5-year average of 19.76% and a median of 17.42% in 2024 frame the typical range for Net Margin.
• Annual changes were most pronounced in 2022 — Net Margin jumped 3279 bps — and 2024, when it slumped 1982 bps.
• Dropbox's Net Margin stood at 54.83% in 2022, then sank by 35 bps to 35.8% in 2023, then slumped by 55 bps to 15.97% in 2024, then grew by 7 bps to 17.09% in 2025, then increased by 6 bps to 18.19% in 2026.
• Business Quant data shows DBX's Net Margin at 18.19% in Q1 2026, 17.09% in Q4 2025, and 19.51% in Q3 2025.