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Dropbox, Inc (DBX) Fair Value & Analysis

Technology · US · Market cap $6.9B

DI Dropbox, Inc logo Dropbox, Inc DBX · US
Price$30.45
Fair Value$29.27
Upside-3.9%
Quality81/100
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Evidence: High Range $19.15 – $39.38

Fair value as of: Jul 15, 2026

From 24 valuation models · updated yesterday

Fair value updated Jul 15, 2026, revised from $50.52 to $29.27 (−42.1%) since Jun 25, 2026. Share price +11.5% over the past month.

Price vs Fair Value (12 months)

$32.17 $22.06 Fair Value $29.27 Jul 2025 Jul 2026

12‑month range $22.06 – $32.17 · fair‑value band $19.15 – $39.38 · the $30.45 price screens above the $29.27 fair value. As of Jul 15, 2026.

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Analysis

Dropbox, Inc (DBX) currently trades at $30.45, while our model-based Fair Value estimate is $29.27, implying the stock looks roughly 3.9% fairly valued today. We read business quality at 81/100 (high quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Dropbox, Inc generated revenue of $2.5B at a net margin of 18.7%. Revenue grew 0.8% year over year. It earns a return on equity of 16.8%. Net debt stands at $3.1B. Fundamentals as of Jul 15, 2026

Our scenario range runs from $19.15 (bear case) to $39.38 (bull case); at $30.45, the current price sits within that range. The share trades about 6% below its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -76% fair-value upside, at -4%, DBX screens cheaper than that median.

Key figures & financial health

Revenue (TTM) $2.5B
Revenue growth (YoY) +0.8%
Net margin 18.7%
Return on equity 16.8%
Free cash flow $931M FY2025
P/E ratio 16.2
More key figures
Operating margin 27.5%
EPS (TTM) $1.83
EPS growth (YoY) -5.9%
Net debt $3.1B FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 15, 2026. TTM = trailing twelve months.

About the company

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.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Revenue +4.0%/yr
FY21 $2.2B
FY22 $2.3B
FY23 $2.5B
FY24 $2.5B
FY25 $2.5B
Net income +10.9%/yr
FY21 $336M
FY22 $553M
FY23 $454M
FY24 $452M
FY25 $508M

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Cite: Fair Value Calculator (2026). "Dropbox, Inc Fair Value". https://www.fairvalue-calculator.com/stock/DBX

Recent news

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Frequently asked questions

Is Dropbox, Inc (DBX) undervalued?
As of Jul 15, 2026, our model estimates a fair value of $29.27 versus a price of $30.45, about −4% (fairly valued). Model-based estimate, not financial advice.
What is the fair value of DBX?
Our model-based fair value for Dropbox, Inc is $29.27 (as of Jul 15, 2026), built from audited fundamentals. The current price is $30.45.
What is the quality score of DBX?
Dropbox, Inc has a Quality Score of 81/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Dropbox, Inc (DBX)?
Dropbox, Inc reported trailing-twelve-month revenue of about $2.5B (latest available figure, as of Jul 15, 2026).
What is the net profit margin of DBX?
The net profit margin of Dropbox, Inc is about 18.7%, meaning it keeps roughly 18.7% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.