Financials Dropbox, Inc.

Equities

DBX

US26210C1045

Software

Market Closed - Nasdaq 04:00:00 2024-05-15 pm EDT 5-day change 1st Jan Change
23.86 USD -0.67% Intraday chart for Dropbox, Inc. +2.32% -19.06%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 7,438 9,178 9,326 7,878 10,193 7,931 - -
Enterprise Value (EV) 1 6,494 9,134 9,081 7,908 10,215 7,860 7,528 6,925
P/E ratio -138 x -35.8 x 28.9 x 14.7 x 22.5 x 19.8 x 17.9 x 14.7 x
Yield - - - - - 0.02% - -
Capitalization / Revenue 4.48 x 4.8 x 4.32 x 3.39 x 4.07 x 3.12 x 3.04 x 2.92 x
EV / Revenue 3.91 x 4.77 x 4.21 x 3.4 x 4.08 x 3.09 x 2.89 x 2.55 x
EV / EBITDA 17.2 x 16.1 x 11.4 x 9.03 x 10.3 x 7.87 x 7.23 x 6.29 x
EV / FCF 16.6 x 18.6 x 12.8 x 10.4 x 13.5 x 8.43 x 7.89 x 7.17 x
FCF Yield 6.04% 5.37% 7.79% 9.65% 7.43% 11.9% 12.7% 13.9%
Price to Book 9.24 x 27.5 x -32.4 x -26.1 x -59.9 x -39.6 x 60.6 x 13.6 x
Nbr of stocks (in thousands) 415,323 413,617 380,019 351,991 345,758 330,192 - -
Reference price 2 17.91 22.19 24.54 22.38 29.48 24.02 24.02 24.02
Announcement Date 2/20/20 2/18/21 2/17/22 2/16/23 2/15/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,661 1,914 2,158 2,325 2,502 2,544 2,607 2,717
EBITDA 1 378.5 568.4 798.4 876.1 989.9 999.3 1,042 1,100
EBIT 1 205 409.1 647 719 819.9 838.3 862.6 920
Operating Margin 12.34% 21.38% 29.98% 30.93% 32.78% 32.95% 33.09% 33.86%
Earnings before Tax (EBT) 1 -52 -250.2 299.3 192.7 554.4 486.4 511.5 611
Net income 1 -52.7 -256.3 335.8 553.2 453.6 403.3 411.6 525.6
Net margin -3.17% -13.39% 15.56% 23.79% 18.13% 15.85% 15.79% 19.34%
EPS 2 -0.1300 -0.6200 0.8500 1.520 1.310 1.210 1.341 1.634
Free Cash Flow 1 392.4 490.7 707.7 763.5 759.4 932.5 954.2 965.8
FCF margin 23.62% 25.64% 32.8% 32.84% 30.36% 36.65% 36.6% 35.54%
FCF Conversion (EBITDA) 103.67% 86.33% 88.64% 87.15% 76.71% 93.32% 91.61% 87.79%
FCF Conversion (Net income) - - 210.75% 138.02% 167.42% 231.21% 231.8% 183.76%
Dividend per Share 2 - - - - - 0.005110 - -
Announcement Date 2/20/20 2/18/21 2/17/22 2/16/23 2/15/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 565.5 562.4 572.7 591 598.8 611.1 622.5 633 635 631.3 630 639.6 643.3 637 648.1
EBITDA 1 209.1 209.7 222.1 225.6 218.7 217 255.8 269.4 247.7 262.1 248.4 245.2 241.7 261.3 260.6
EBIT 1 168 170.3 182.9 186.7 179.1 174.5 213.1 227.6 204.7 230.7 207.6 201.9 198 218.9 218
Operating Margin 29.71% 30.28% 31.94% 31.59% 29.91% 28.56% 34.23% 35.96% 32.24% 36.54% 32.95% 31.57% 30.78% 34.36% 33.64%
Earnings before Tax (EBT) 1 85.8 93.8 79.1 98.2 -78.4 87.6 59 135.5 272.3 151.1 129.4 117.4 113 - -
Net income 1 124.6 79.7 62 83.2 328.3 69 43.2 114.1 227.3 132.3 93.34 91.76 89.7 108.4 98.39
Net margin 22.03% 14.17% 10.83% 14.08% 54.83% 11.29% 6.94% 18.03% 35.8% 20.96% 14.82% 14.35% 13.94% 17.02% 15.18%
EPS 2 0.3200 0.2100 0.1700 0.2300 0.9300 0.2000 0.1300 0.3300 0.6600 0.3900 0.2770 0.2748 0.2638 0.3788 0.3295
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 2/17/22 5/5/22 8/4/22 11/3/22 2/16/23 5/4/23 8/3/23 11/2/23 2/15/24 5/9/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - 30.6 21.8 - - -
Net Cash position 1 944 43.7 245 - - 71.2 403 1,007
Leverage (Debt/EBITDA) - - - 0.0349 x 0.022 x - - -
Free Cash Flow 1 392 491 708 764 759 933 954 966
ROE (net income / shareholders' equity) 27.9% 68.5% 1,683% - - 201% 71.6% 43.4%
ROA (Net income/ Total Assets) 10.4% 15.4% 12.3% 18.5% 22.5% 17.9% 17.2% 10.8%
Assets 1 -506.8 -1,667 2,739 2,989 2,018 2,252 2,390 4,867
Book Value Per Share 2 1.940 0.8100 -0.7600 -0.8600 -0.4900 -0.6100 0.4000 1.770
Cash Flow per Share 2 1.280 - 1.840 2.190 2.270 2.870 3.440 -
Capex 1 136 80.1 22.1 33.8 24.3 30.8 40.3 77.4
Capex / Sales 8.19% 4.19% 1.02% 1.45% 0.97% 1.21% 1.55% 2.85%
Announcement Date 2/20/20 2/18/21 2/17/22 2/16/23 2/15/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
12
Last Close Price
24.02 USD
Average target price
27.67 USD
Spread / Average Target
+15.18%
Consensus
1st Jan change Capi.
-18.52% 7.93B
-20.22% 213B
-10.57% 65.5B
-4.46% 55.75B
-11.36% 46.17B
-3.81% 39.05B
-7.47% 33.84B
-10.20% 28.45B
+109.39% 27.45B
+3.18% 21.62B
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