Dropbox (DBX) Net Margin (2017 - 2026)
Dropbox's Net Margin came in at 15.17% for Q2 2026, down 4.90 percentage points from 20.07% a year earlier and down 3.02 percentage points from the prior quarter.
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Analysis
Dropbox (DBX) Net Margin (2017 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Dropbox reported Net Margin of 17.49%, down 1.67 percentage points year-over-year; for FY2025, it was 20.17%, up 2.42 percentage points from FY2024.
- Net Margin carries a five-year change of +33.56 percentage points (FY2020 to FY2025).
- Going back by year, Net Margin was 17.75% in FY2024 (-0.38 pp), 18.13% in FY2023 (-5.66 pp), 23.79% in FY2022 (+8.23 pp) and 15.56% in FY2021 (+28.95 pp).
- The Q2 2026 figure represents the lowest quarterly Net Margin since Q2 2023.
- Year-over-year, Net Margin increased in four of the last eight quarters, with an average year-over-year change of -2.78 percentage points.
- The fastest year-over-year change in Net Margin over five years came in Q4 2021 (a gain of 90.63 percentage points), and the weakest in Q4 2024 (a drop of 19.82 percentage points).
- Business Quant data shows DBX's Net Margin at 18.19% (Q1 2026), 17.09% (Q4 2025) and 19.51% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Adobe | 94.52 Bn | 69.77 Bn | 6.00 Bn | 27.03% |
| 2 | Autodesk | 54.99 Bn | 43.02 Bn | 1.87 Bn | 24.05% |
| 3 | Atlassian | 39.98 Bn | 33.26 Bn | 1.53 Bn | 7.87% |
| 4 | Twilio | 30.87 Bn | 20.51 Bn | 760.53 Mn | 10.33% |
| 5 | Zoom Communications | 26.33 Bn | -4.40 Bn | 985.50 Mn | 120.77% |
| 6 | Figma | 10.00 Bn | 3.32 Bn | 314.44 Mn | -20.78% |
| 7 | Dropbox | 7.80 Bn | 3.43 Bn | 506.50 Mn | 15.17% |
| 8 | Open Text | 6.19 Bn | 1.62 Bn | 1.01 Bn | 11.54% |
| 9 | RingCentral | 6.04 Bn | 5.57 Bn | 494.30 Mn | 84.27% |
| 10 | Nice | 5.99 Bn | 4.56 Bn | 1.49 Bn | 9.61% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 15.17% |
| Mar 31, 2026 | 18.19% |
| Dec 31, 2025 | 17.09% |
| Sep 30, 2025 | 19.51% |
| Jun 30, 2025 | 20.07% |
| Mar 31, 2025 | 24.06% |
| Dec 31, 2024 | 15.97% |
| Sep 30, 2024 | 16.70% |
| Jun 30, 2024 | 17.42% |
| Mar 31, 2024 | 20.96% |
| Dec 31, 2023 | 35.80% |
| Sep 30, 2023 | 18.03% |
| Jun 30, 2023 | 6.94% |
| Mar 31, 2023 | 11.29% |
| Dec 31, 2022 | 54.83% |
| Sep 30, 2022 | 14.08% |
| Jun 30, 2022 | 10.83% |
| Mar 31, 2022 | 14.17% |
| Dec 31, 2021 | 22.03% |
| Sep 30, 2021 | 13.74% |
API Access
Dropbox Net 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=net-margin&ticker=DBX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=DBX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();