Financials Dropbox, Inc.

Equities

DBX

US26210C1045

Software

Market Closed - Nasdaq 04:00:00 2024-04-26 pm EDT 5-day change 1st Jan Change
24.15 USD +0.92% Intraday chart for Dropbox, Inc. +5.09% -18.08%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 7,438 9,178 9,326 7,878 10,193 8,172 - -
Enterprise Value (EV) 1 6,494 9,134 9,081 7,908 10,215 7,666 7,016 6,852
P/E ratio -138 x -35.8 x 28.9 x 14.7 x 22.5 x 24.7 x 21.8 x 17.5 x
Yield - - - - - 0.02% - -
Capitalization / Revenue 4.48 x 4.8 x 4.32 x 3.39 x 4.07 x 3.21 x 3.12 x 2.98 x
EV / Revenue 3.91 x 4.77 x 4.21 x 3.4 x 4.08 x 3.01 x 2.68 x 2.5 x
EV / EBITDA 17.2 x 16.1 x 11.4 x 9.03 x 10.3 x 7.58 x 6.74 x 6.02 x
EV / FCF 16.6 x 18.6 x 12.8 x 10.4 x 13.5 x 8.34 x 7.23 x 7.05 x
FCF Yield 6.04% 5.37% 7.79% 9.65% 7.43% 12% 13.8% 14.2%
Price to Book 9.24 x 27.5 x -32.4 x -26.1 x -59.9 x 92.2 x 22 x 14.7 x
Nbr of stocks (in thousands) 415,323 413,617 380,019 351,991 345,758 338,385 - -
Reference price 2 17.91 22.19 24.54 22.38 29.48 24.15 24.15 24.15
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 2,547 2,621 2,742
EBITDA 1 378.5 568.4 798.4 876.1 989.9 1,012 1,040 1,139
EBIT 1 205 409.1 647 719 819.9 828.4 863.7 940.7
Operating Margin 12.34% 21.38% 29.98% 30.93% 32.78% 32.52% 32.96% 34.31%
Earnings before Tax (EBT) 1 -52 -250.2 299.3 192.7 554.4 440 488.3 606
Net income 1 -52.7 -256.3 335.8 553.2 453.6 338.1 371 462.6
Net margin -3.17% -13.39% 15.56% 23.79% 18.13% 13.27% 14.15% 16.87%
EPS 2 -0.1300 -0.6200 0.8500 1.520 1.310 0.9760 1.107 1.382
Free Cash Flow 1 392.4 490.7 707.7 763.5 759.4 918.8 970.2 972.4
FCF margin 23.62% 25.64% 32.8% 32.84% 30.36% 36.07% 37.02% 35.46%
FCF Conversion (EBITDA) 103.67% 86.33% 88.64% 87.15% 76.71% 90.83% 93.26% 85.36%
FCF Conversion (Net income) - - 210.75% 138.02% 167.42% 271.72% 261.53% 210.2%
Dividend per Share 2 - - - - - 0.004910 - -
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 Q3 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
Net sales 1 550.2 565.5 562.4 572.7 591 598.8 611.1 622.5 633 635 628.8 632.4 642.1 644.1 642.5
EBITDA 1 199.8 209.1 209.7 222.1 225.6 218.7 217 255.8 269.4 247.7 251.6 253.6 255.2 250.9 256.6
EBIT 1 161 168 170.3 182.9 186.7 179.1 174.5 213.1 227.6 204.7 207 206.5 208.4 206.2 212.8
Operating Margin 29.26% 29.71% 30.28% 31.94% 31.59% 29.91% 28.56% 34.23% 35.96% 32.24% 32.93% 32.66% 32.46% 32.01% 33.13%
Earnings before Tax (EBT) 1 76.1 85.8 93.8 79.1 98.2 -78.4 87.6 59 135.5 272.3 116.4 121.1 122.2 124.8 -
Net income 1 75.6 124.6 79.7 62 83.2 328.3 69 43.2 114.1 227.3 85.3 81.85 85.78 84.49 88.51
Net margin 13.74% 22.03% 14.17% 10.83% 14.08% 54.83% 11.29% 6.94% 18.03% 35.8% 13.57% 12.94% 13.36% 13.12% 13.78%
EPS 2 0.1900 0.3200 0.2100 0.1700 0.2300 0.9300 0.2000 0.1300 0.3300 0.6600 0.2435 0.2398 0.2488 0.2442 0.2505
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 11/4/21 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 - - - - -
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 - - 506 1,156 1,320
Leverage (Debt/EBITDA) - - - 0.0349 x 0.022 x - - -
Free Cash Flow 1 392 491 708 764 759 919 970 972
ROE (net income / shareholders' equity) 27.9% 68.5% 1,683% - - 209% 98.8% 44%
ROA (Net income/ Total Assets) 10.4% 15.4% 12.3% 18.5% 22.5% 16.8% 15.7% 10.7%
Assets 1 -506.8 -1,667 2,739 2,989 2,018 2,012 2,357 4,323
Book Value Per Share 2 1.940 0.8100 -0.7600 -0.8600 -0.4900 0.2600 1.100 1.650
Cash Flow per Share 2 1.280 - 1.840 2.190 2.270 2.780 3.090 -
Capex 1 136 80.1 22.1 33.8 24.3 38.2 42.2 78.9
Capex / Sales 8.19% 4.19% 1.02% 1.45% 0.97% 1.5% 1.61% 2.88%
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
13
Last Close Price
24.15 USD
Average target price
29.37 USD
Spread / Average Target
+21.61%
Consensus
1st Jan change Capi.
-18.08% 8.17B
-19.95% 214B
-9.06% 66.6B
-3.37% 56.39B
-10.49% 46.62B
+8.30% 43.93B
-6.51% 34.19B
-7.95% 29.14B
+85.24% 24.32B
+3.45% 21.64B
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