DROPBOX, INC.(DBX)Stock Analysis
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Rank #557 of 2,879 stocksTOP 25%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
DBX Stock Analysis & AI Quality Score
AI stock analysis and institutional research for DROPBOX, INC. (DBX), a Technology sector company. 13F Pro's AI-powered ranking engine scores DBX at 65.8/100 on a 32-signal composite quality model, placing it at rank #557 of 2,879 stocks — the top 25% of the AI-ranked universe. DBX scores in the top quartile across balance sheet strength (95.7), free cash flow (88.7), profitability (85.6). Areas of concern include institutional flow (2.5) and revenue growth (33.8), which score below median versus the broader universe. Shareholder dilution risk is elevated at 15.0/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), DROPBOX, INC. reports quarterly revenue of $629.5M, net income of $114.5M, an operating margin of 27.5%. Top institutional holders of DBX by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP, based on the most recent SEC filings. DBX trades on the Nasdaq exchange and files with the SEC under CIK 1467623. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate DBX daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for DROPBOX, INC. directly from SEC EDGAR.
Revenue
Q1 2026
$629.5M
Net Income
Q1 2026
$114.5M
Free Cash Flow
Q1 2026
$203.3M
Operating Margin
Q1 2026
27.5%
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+1.9% YoYNet Income
-0.3% YoYOperating Income
-9.7% YoYEPS (Diluted)
+6.9% YoYTotal Assets
+11.5% YoYOp. Cash Flow
+14.1% YoY| Metric | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Revenue | $2.55B +1.9% | $2.50B +50.6% | $1.66B +19.4% | $1.39B +25.7% | $1.11B +31.0% | $844.8M |
| Net Income | $452.3M -0.3% | $453.6M +960.7% | $-52.7M +89.1% | $-484.9M -334.1% | $-111.7M +46.9% | $-210.2M |
| Operating Income | $486.2M -9.7% | $538.7M +769.2% | $-80.5M +83.7% | $-494.0M -334.5% | $-113.7M +41.2% | $-193.5M |
| EPS (Diluted) | $1.40 +6.9% | $1.31 +1107.7% | $-0.13 | — | — | — |
| Total Assets | $3.33B +11.5% | $2.98B +10.5% | $2.70B +59.3% | $1.69B +66.1% | $1.02B | — |
| Operating Cash Flow | $894.1M +14.1% | $783.7M +48.3% | $528.5M +24.2% | $425.4M +28.8% | $330.3M +30.8% | $252.6M |
AI Insight: DBX Financial Trends
Dropbox revenue is effectively flat over eight quarters while equity deficit has ballooned from -$371M to -$2,012M, signaling aggressive capital returns masking stagnant top-line growth.
• Revenue has barely moved, ranging from $625M to $644M across eight quarters, with Q1 2026 at $630M below the Q4 2024 peak of $644M.
• Operating income recovered from a Q4 2024 trough of $88M to $173M in Q1 2026, suggesting improving cost discipline.
• Operating cash flow reached $302M in Q3 2025, the highest in the period, though Q1 2026 pulled back to $204M.
• Equity deficit deepened every quarter, from -$371M in Q2 2024 to -$2,012M in Q1 2026, reflecting sustained share buybacks.
⚠ Revenue declined sequentially from $644M in Q4 2024 to $625M in Q1 2025 and has not recovered — top-line stagnation is accelerating.
⚠ Net income fell from $150M in Q1 2025 to $114M in Q1 2026 — year-over-year earnings compression despite margin recovery.
⚠ Total debt data is absent across all periods; leverage picture is incomplete and warrants direct disclosure scrutiny.
AI Insight: DBX Ratio Trends
Operating margins have structurally re-rated higher in 2025, holding 25–29% versus the 13–20% range seen through Q4 2024.
• Operating margin surged from 13.7% in Q4 2024 to a range of 25.5%–29.4% across all four quarters of 2025.
• Net profit margin expanded from 16.0% in Q4 2024 to a peak of 24.1% in Q1 2025, before moderating to 18.2% in Q1 2026.
• ROA declined from 20.3% in Q1 2025 to 15.1% in Q1 2026, the lowest reading in four quarters.
⚠ ROA has slipped four consecutive quarters from 20.3% (Q1 2025) to 15.1% (Q1 2026) — monitor for further asset-efficiency erosion.
⚠ Operating margin dipped to 25.5% in Q4 2025 from 27.5% in Q3 2025; Q1 2026 recovered to 27.5% — watch for seasonal softness recurrence.
⚠ ROE, ROIC, and D/E are unavailable across all periods, limiting full capital-structure and returns analysis.
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Top Institutional Holders of DBX
BlackRock, Inc.
$473.5M20,839,091 shVANGUARD PORTFOLIO MANAGEMENT LLC
$277.9M12,229,462 shARROWSTREET CAPITAL, LIMITED PARTNERSHIP
$193.9M8,533,736 shRENAISSANCE TECHNOLOGIES LLC
$175.4M7,721,067 shVANGUARD CAPITAL MANAGEMENT LLC
$159.1M7,001,208 shUBS Group AG
$148.5M6,536,911 shMORGAN STANLEY
$142.1M6,252,381 shSTATE STREET CORP
$131.1M5,768,363 shJACOBS LEVY EQUITY MANAGEMENT, INC
$109.1M4,803,221 shGEODE CAPITAL MANAGEMENT, LLC
$103.1M4,535,475 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $473.5M | 20,839,091 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $277.9M | 12,229,462 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $193.9M | 8,533,736 |
| RENAISSANCE TECHNOLOGIES LLC | $175.4M | 7,721,067 |
| VANGUARD CAPITAL MANAGEMENT LLC | $159.1M | 7,001,208 |
| UBS Group AG | $148.5M | 6,536,911 |
| MORGAN STANLEY | $142.1M | 6,252,381 |
| STATE STREET CORP | $131.1M | 5,768,363 |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $109.1M | 4,803,221 |
| GEODE CAPITAL MANAGEMENT, LLC | $103.1M | 4,535,475 |
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Is DBX a good stock to buy?
13F Pro's AI-powered analysis of DROPBOX, INC. (DBX) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for DBX are available on the DBX stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own DBX?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling DBX. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of DROPBOX, INC.'s investment landscape.