Check 35,000+ stocks against 26 valuation models and 37 quality factors
Data-driven stock valuation
Which stocks are undervalued right now? Check free
Discover now →
Dropbox, Inc (0SGO) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Dropbox, Inc $37.49, price $33.83, upside +10.8%, quality 96 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
- Add to watchlist
DI
Broad data
Sep 24, 2026
Dropbox, Inc
0SGO · LSEQuality WatchlistQuality growthA strong company, but the current price is close to Fair Value.
·Fair value $37.49 · Fairly valued (+10.8%)
✓Quality 96/100
!Mixed Growth (revenue 5y +5.7 %/yr)
✓Solidly profitable · 18.7% net margin (TTM)
✓Negative equity (buybacks among others) · generates free cash flow
✓Wide moat 85/100
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.
How to read this chart
10‑month range $21.79 – $38.04 · fair‑value band $29.00 – $49.81 · the $33.83 price screens below the $37.49 fair value. As of Sep 24, 2026.
Company profile
Dropbox, Inc. provides a content collaboration platform in the United States and internationally. The company's platform enables individuals, families, teams, and organizations to collaborate for free through its website or app, or through a paid subscription plan for premium features.
Show more
Dropbox, Inc. provides a content collaboration platform in the United States and internationally. The company's platform enables individuals, families, teams, and organizations to collaborate for free through its website or app, or through a paid subscription plan for premium features. Its platform consists of various elements, such as unified home for content, global sharing network, and product experiences and integrations. The company serves customers in the professional services, technology, media, education, industrial, consumer and retail, and financial services industries. The company was formerly known as Evenflow, Inc. and changed its name to Dropbox, Inc. in October 2009. Dropbox, Inc. was incorporated in 2007 and is headquartered in San Francisco, California.
Stock analysis
Dropbox, Inc (0SGO) currently trades at $33.83, while our model-based Fair Value estimate is $37.49, implying the stock looks roughly 9.8% undervalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of $34.87 per share, and 7 of the 21 models we run sit above the $33.83 price.
Bear case: the Earnings-Based group reads lowest at $11.11, and 14 of the 21 models stay below the price. Evidence for this calculation is high.
Scenario range: $29.00 (bear) to $49.81 (bull), the price of $33.83 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 96/100 (high quality).
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Dropbox, Inc reported revenue of $2.5B in FY2025 versus $2.2B in FY2021, a compound +4.0%/yr. Reported net income was $508M in FY2025, compounding +10.9%/yr from FY2021.
Key figures
Market cap $9.2B · P/E ratio 0.4 · P/S ratio 0.07 · EPS (TTM) $0.9440 · Net margin 20.2% · Return on assets (EBIT) 15.5% · Operating margin 27.5% · Revenue (TTM) $2.5B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
Fair Value models
Bear $29.00
Fair Value $37.49
Bull $49.81
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.7138 per share) are deliberately not added.
Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF
$30.13
$47.61
$74.75
77
Growth DCF
$30.23
$46.92
$72.31
75
Owner Earnings
$22.12
$34.58
$53.94
73
All 21 models by family
DCF Models
FCF DCF
$30.13
$47.61
$74.75
77
Owner Earnings
$22.12
$34.58
$53.94
73
5Y Revenue Exit
$18.77
$26.71
$36.67
70
5Y EBITDA Exit
$23.84
$36.61
$51.71
72
5Y P/E Exit
$22.96
$34.87
$47.67
68
10Y Revenue Exit
$22.31
$30.73
$42.00
65
10Y EBITDA Exit
$25.86
$37.60
$53.68
66
10Y P/E Exit
$25.30
$36.40
$50.54
62
Earnings-Based
Graham-Dodd
$8.50
$32.11
$43.45
64
Lynch FV
$7.77
$11.11
$14.44
61
PEG = 1.0
$7.77
$11.11
$14.44
57
EPV
$15.13
$17.17
$18.94
70
Multiples
P/E Multiple
$18.76
$25.01
$31.27
63
P/S Multiple
$11.63
$15.50
$19.38
58
EV/EBIT
$25.03
$32.65
$40.26
63
EV/EBITDA
$22.46
$29.22
$35.98
64
EV/Revenue
$13.04
$17.70
$22.35
51
Growth DCF
Growth DCF
$30.23
$46.92
$72.31
75
Rev-Margin DCF
$18.77
$26.94
$36.96
70
Economic Profit
ROIC Compounder
$15.13
$17.17
$18.94
70
Growth Earnings
Growth-Adj P/E
$13.84
$19.78
$25.71
67
Notify me when 0SGO reaches fair value
Put 0SGO on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.
Set up alert →Quality Score breakdown
Overall quality
96/100
Of which business quality 92 · Market factors (momentum, volatility) 72
Profitability
87
Margins and returns on capital today
Quality Growth
67
Are margins and returns improving?
Cashflow
98
Earnings quality: real cash, not paper profit
Fin. Strength
100
Balance sheet, leverage, solvency risk
Investment
100
Disciplined investing over empire-building
Low Volatility
68
Calm price path (market factor)
Momentum
82
Price trend over the last 3–12 months (market factor)
52W Momentum
62
Distance to the 52-week high (market factor)
Net Issuance
100
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.7%
Start year 2020 (pandemic). Over 10 years: +15.4% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.4%
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+17.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+17.0%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.6% → 27%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−6.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−0.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −8.3% a year for the price and −2.4% for the forecasts.
Forecast 2026 (sales)−0.5%
Forecast 2027 (sales)−0.5%
Projected 2028 (sales)−0.2%
Projected 2029 (sales)+0.1%
Projected 2030 (sales)+0.4%
Watch 0SGO, get fair value alerts →
Compare Dropbox, Inc with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: UK Stocks
- Valuation of the UK market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Explore undervalued stocks
All undervalued stocks
TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks
Try a ready-made strategy
Pick a strategy and jump into the live analysis with that exact screen applied.
🥇 Backtested Best
🏆 Big Names
⭐ Top Rated
💎 Quality on Sale
🚀 Profitable Growth
🧊 Quality Compounders
💵 Dividend Stars
📈 Strong Momentum
📉 Fallen Angels
⚖️ Deeply Undervalued
🔍 Small-Cap Gems
🏰 Moat at a Fair Price
💼 Insider Buying
🎩 Buffett-Style Quality
📚 Peter Lynch GARP
🧮 Greenblatt Magic Formula
🛡️ Graham Defensive
Discover tools
Stock screenerFilter by region, size and sector
Compare toolTwo stocks side by side
Extrinsic Value Calculator…Calculator with industry benchmark
Peter Lynch Fair Value Formula &…Calculator with industry benchmark
Run the numbers yourself: free valuation calculators
Frequently asked questions
Is Dropbox, Inc (0SGO) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $37.49 versus a price of $33.83, about +11% upside (undervalued).
What is the fair value of 0SGO?
Our model-based fair value for Dropbox, Inc is $37.49 (as of Sep 24, 2026), built from audited fundamentals. The current price: $33.83.
What is the quality score of 0SGO?
Dropbox, Inc has a Quality Score of 96/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Dropbox, Inc (0SGO)?
Our model-based price target is the fair value of $37.49 (as of Sep 24, 2026) from 21 valuation models. Cautious scenario $29.00, optimistic scenario $49.81. It is a calculation from audited fundamentals, not an analyst target.
What is the Dropbox, Inc stock forecast for 2026?
Our models put fair value at $37.49, about +11% upside versus a price of $33.83 (undervalued). Cautious scenario $29.00, optimistic scenario $49.81. The calculation is refreshed regularly with new filings.
What is the revenue of Dropbox, Inc (0SGO)?
Dropbox, Inc reported trailing-twelve-month revenue of about $2.5B (latest available figure, as of Sep 24, 2026).
What growth is priced into Dropbox, Inc (0SGO)?
For today's price to be fair in a discounted-cash-flow model, Dropbox, Inc would have to grow free cash flow by -6.1 % per year for five years (discount rate 9.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0SGO use?
Our models discount Dropbox, Inc at 9.4 %: a base by market capitalisation (unknown), damped by beta 0.64, country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Dropbox, Inc that is -6.1 % per year a year over ten years, using the same discount rate (9.4 %) and the same formula as our fair value.
How much growth has Dropbox, Inc (0SGO) delivered so far?
Over the past 5 years revenue at Dropbox, Inc grew +5.7 % a year. The price currently implies -6.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
What is the free cash flow yield of Dropbox, Inc (0SGO)?
The free-cash-flow yield on the price is 10.09 %: that much free cash flow Dropbox, Inc produces per unit of market value. When it exceeds the discount rate of our models (9.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Dropbox, Inc (0SGO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dropbox, Inc it is $37.49 per share (as of Sep 24, 2026), against a price of $33.83. It is the blended result of 21 valuation models (cash flow, earnings, asset, dividend).
Is Dropbox, Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0SGO trades below its calculated fair value: price $33.83, fair value $37.49, a gap of about +11% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0SGO?
No. The price is what the market pays today ($33.83); the fair value is what the company's own numbers justify ($37.49). For Dropbox, Inc the two are $3.66 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dropbox, Inc worth?
The market values Dropbox, Inc at about $9.2B (market capitalisation, as of Sep 24, 2026). Per share that is $33.83; our models calculate a fair value of $37.49 per share.
What do the bullish and bearish scenarios say about 0SGO?
Our models span a range for Dropbox, Inc: cautious scenario $29.00, base $37.49, optimistic $49.81 per share (as of Sep 24, 2026, price $33.83). The range comes from different growth and margin assumptions, not from analyst opinions.
Is Dropbox, Inc stock attractive at the current price?
The data as of Sep 24, 2026: price $33.83, calculated fair value $37.49 (+11%), Quality Score 96/100, from 21 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0SGO calculated?
We run Dropbox, Inc through 21 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $37.49, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Dropbox, Inc currently trades 10 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Dropbox, Inc (0SGO)?
The closing price on Oct 2, 2026 was $33.83. Our model-based fair value is $37.49, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dropbox, Inc right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Dropbox, Inc
How large is the market capitalisation of Dropbox, Inc (0SGO)?
The market capitalisation of Dropbox, Inc is $9.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Dropbox, Inc (0SGO)?
The price-to-earnings ratio of Dropbox, Inc is 0.4 (as of Aug 5, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Dropbox, Inc (0SGO)?
The price-to-sales ratio of Dropbox, Inc is 0.07 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Dropbox, Inc (0SGO)?
Earnings per share at Dropbox, Inc are $0.9440 (price ÷ EPS = P/E 0.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Dropbox, Inc (0SGO)?
The net margin of Dropbox, Inc is 20.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Dropbox, Inc (0SGO)?
On an EBIT basis the return on assets of Dropbox, Inc is 15.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Dropbox, Inc (0SGO)?
The operating margin of Dropbox, Inc is 27.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dropbox, Inc (0SGO)?
Revenue at Dropbox, Inc is growing +0.8% versus a year earlier (3y avg +2.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Dropbox, Inc (0SGO)?
Earnings per share at Dropbox, Inc are growing −5.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Dropbox, Inc (0SGO) carry?
The net debt of Dropbox, Inc is $3.1B (fiscal year 2025, ≈ 3.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Continue in the live analysis
Fair value and trend for 35,000+ stocks, watchlist, comparison and the diversification check. You can also try 14 days of Pro there, no card.
Open the live analysis →Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.