Dropbox price to free cash flow DBX

Market value divided by free cash flow over the last twelve months, since 2019.

Today, Oct 23, 2026: 8.9×
8-year median: 11.8×
Against its 8-year history: 16th; percentile: 0 is its lowest day, 100 its highest
8-year range: 5.7× to 35.3×
Peer median: 19.6×

Dropbox's price to free cash flow is 8.9× as of Oct 23, 2026.

That is below its 8-year median of 11.8×, lower than on 84% of days in the last 8 years.

Over that time it ranged from 5.7× in Apr 2026 to 35.3× in Jul 2019.

The median for 10 infrastructure software stocks of a similar size is 19.6×.

Price to free cash flow over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	8.9×	5.7×	8.9×
2025	7.9×	7.9×	11.9×
2024	11.1×	8.9×	15.3×
2023	13.6×	9.0×	13.9×
2022	10.9×	10.3×	13.7×
2021	13.7×	13.4×	23.1×
2020	18.6×	15.9×	29.2×
2019	23.0×	21.4×	35.3×

Against its peers

Companies in Software - Infrastructure nearest Dropbox's size, closest first, today.

Company	Price to free cash flow
DBXDropbox	8.9×
PCTYPaylocity	18.9×
QLYSQualys	23.9×
APPFAppfolio	27.6×
PATHUiPath	20.3×
CVLTCommvault Systems	27.2×
OTEXOpen Text	8.4×
YOUClear Secure	12.1×
SAICScience Applications International	9.9×
BSYBentley Systems	24.1×
BOXBox	15.2×
Peer median	19.6×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on Dropbox

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.