Dropbox (DBX) Net Margin (2017 - 2026)

Dropbox has reported Net Margin for 10 years, with the latest figure at 18.19% in Q1 2026.

• For the quarter ending Q1 2026, Net Margin fell 587.0% year-over-year to 18.19%; the trailing twelve-month figure through Mar 2026 stood at 18.71% (up 21.0% YoY), and the FY2025 full-year result was 20.17%, up 242.0% from the prior year.
• Net Margin for Q1 2026 stood at 18.19%, up from 17.09% in the prior quarter.
• The five-year high for Net Margin was 54.83% in Q4 2022, with the low at 6.94% in Q2 2023.
• Historically, Net Margin has averaged 19.76% across 5 years, with a median of 17.42% in 2024.
• Annual changes were most pronounced in 2022 — Net Margin jumped 3279 bps — and 2024, when it tumbled 1982 bps.
• Dropbox's Net Margin stood at 54.83% in 2022, then tumbled by 35 bps to 35.8% in 2023, then plunged by 55 bps to 15.97% in 2024, then advanced by 7 bps to 17.09% in 2025, then climbed by 6 bps to 18.19% in 2026.
• The last three Net Margin figures came in at 18.19% (Q1 2026), 17.09% (Q4 2025), and 19.51% (Q3 2025), per Business Quant data.