vs
Side-by-side financial comparison of BOX INC (BOX) and DROPBOX, INC. (DBX), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
DROPBOX, INC. is the larger business by last-quarter revenue ($636.2M vs $301.1M, roughly 2.1× BOX INC). DROPBOX, INC. runs the higher net margin — 4.0% vs 17.1%, a 13.1% gap on every dollar of revenue. On growth, BOX INC posted the faster year-over-year revenue change (9.1% vs -1.1%). DROPBOX, INC. produced more free cash flow last quarter ($224.9M vs $71.3M). Over the past eight quarters, BOX INC's revenue compounded faster (7.0% CAGR vs 0.4%).
Box, Inc. is an American public company based in Redwood City, California. It develops and markets cloud-based content management, collaboration, and file sharing tools for businesses. Box was founded in 2005 by Aaron Levie and Dylan Smith. Initially, it focused on consumers, but around 2009 and 2010 Box pivoted to focus on business users. The company raised about $500 million over numerous funding rounds before going public in 2015. Its software allows users to store and manage files in an o...
Dropbox is a file hosting service operated by the American company Dropbox, Inc., headquartered in San Francisco, California, that offers cloud storage, file synchronization, personal cloud, and client software. Dropbox was founded in 2007 by MIT students Drew Houston and Arash Ferdowsi as a startup company, with initial funding from seed accelerator Y Combinator.
BOX vs DBX — Head-to-Head
Income Statement — Q3 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $301.1M | $636.2M |
| Net Profit | $12.1M | $108.7M |
| Gross Margin | 79.6% | 79.2% |
| Operating Margin | 8.3% | 25.5% |
| Net Margin | 4.0% | 17.1% |
| Revenue YoY | 9.1% | -1.1% |
| Net Profit YoY | -6.4% | 5.7% |
| EPS (diluted) | $0.05 | $0.43 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $301.1M | $636.2M | ||
| Q3 25 | $294.0M | $634.4M | ||
| Q2 25 | $276.3M | $625.7M | ||
| Q1 25 | $279.5M | $624.7M | ||
| Q4 24 | $275.9M | $643.6M | ||
| Q3 24 | $270.0M | $638.8M | ||
| Q2 24 | $264.7M | $634.5M | ||
| Q1 24 | $262.9M | $631.3M |
| Q4 25 | $12.1M | $108.7M | ||
| Q3 25 | $13.4M | $123.8M | ||
| Q2 25 | $8.2M | $125.6M | ||
| Q1 25 | $194.0M | $150.3M | ||
| Q4 24 | $12.9M | $102.8M | ||
| Q3 24 | $20.5M | $106.7M | ||
| Q2 24 | $17.2M | $110.5M | ||
| Q1 24 | $99.2M | $132.3M |
| Q4 25 | 79.6% | 79.2% | ||
| Q3 25 | 79.1% | 79.8% | ||
| Q2 25 | 78.0% | 80.2% | ||
| Q1 25 | 79.0% | 81.3% | ||
| Q4 24 | 79.9% | 81.2% | ||
| Q3 24 | 79.4% | 82.5% | ||
| Q2 24 | 78.0% | 83.1% | ||
| Q1 24 | 76.1% | 83.2% |
| Q4 25 | 8.3% | 25.5% | ||
| Q3 25 | 7.0% | 27.5% | ||
| Q2 25 | 2.3% | 26.9% | ||
| Q1 25 | 6.4% | 29.4% | ||
| Q4 24 | 8.5% | 13.7% | ||
| Q3 24 | 7.5% | 20.0% | ||
| Q2 24 | 6.8% | 20.0% | ||
| Q1 24 | 8.1% | 22.7% |
| Q4 25 | 4.0% | 17.1% | ||
| Q3 25 | 4.6% | 19.5% | ||
| Q2 25 | 3.0% | 20.1% | ||
| Q1 25 | 69.4% | 24.1% | ||
| Q4 24 | 4.7% | 16.0% | ||
| Q3 24 | 7.6% | 16.7% | ||
| Q2 24 | 6.5% | 17.4% | ||
| Q1 24 | 37.7% | 21.0% |
| Q4 25 | $0.05 | $0.43 | ||
| Q3 25 | $0.05 | $0.47 | ||
| Q2 25 | $0.02 | $0.45 | ||
| Q1 25 | $1.13 | $0.51 | ||
| Q4 24 | $0.05 | $0.33 | ||
| Q3 24 | $0.10 | $0.34 | ||
| Q2 24 | $0.08 | $0.34 | ||
| Q1 24 | $0.57 | $0.39 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $729.6M | $891.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-286.6M | $-1.8B |
| Total Assets | $1.6B | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $729.6M | $891.3M | ||
| Q3 25 | $757.9M | $730.7M | ||
| Q2 25 | $790.4M | $736.3M | ||
| Q1 25 | $722.8M | $942.2M | ||
| Q4 24 | $697.9M | $1.3B | ||
| Q3 24 | $482.2M | $517.6M | ||
| Q2 24 | $566.1M | $515.1M | ||
| Q1 24 | $480.7M | $548.9M |
| Q4 25 | $-286.6M | $-1.8B | ||
| Q3 25 | $-269.4M | $-1.5B | ||
| Q2 25 | $-280.1M | $-1.3B | ||
| Q1 25 | $-297.0M | $-1.1B | ||
| Q4 24 | $-479.9M | $-752.4M | ||
| Q3 24 | $-439.4M | $-546.1M | ||
| Q2 24 | $-397.9M | $-371.3M | ||
| Q1 24 | $-431.1M | $-277.2M |
| Q4 25 | $1.6B | $2.8B | ||
| Q3 25 | $1.6B | $2.8B | ||
| Q2 25 | $1.6B | $2.8B | ||
| Q1 25 | $1.7B | $3.0B | ||
| Q4 24 | $1.4B | $3.3B | ||
| Q3 24 | $1.1B | $2.6B | ||
| Q2 24 | $1.2B | $2.7B | ||
| Q1 24 | $1.2B | $2.8B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $73.0M | $235.4M |
| Free Cash FlowOCF − Capex | $71.3M | $224.9M |
| FCF MarginFCF / Revenue | 23.7% | 35.4% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 0.6% | 1.7% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 6.05× | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $343.5M | $930.8M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $73.0M | $235.4M | ||
| Q3 25 | $46.0M | $302.1M | ||
| Q2 25 | $127.1M | $260.5M | ||
| Q1 25 | $102.2M | $153.8M | ||
| Q4 24 | $62.6M | $213.8M | ||
| Q3 24 | $36.3M | $274.2M | ||
| Q2 24 | $131.2M | $230.6M | ||
| Q1 24 | $89.3M | $175.5M |
| Q4 25 | $71.3M | $224.9M | ||
| Q3 25 | $43.9M | $293.7M | ||
| Q2 25 | $126.7M | $258.5M | ||
| Q1 25 | $101.5M | $153.7M | ||
| Q4 24 | $62.3M | $210.5M | ||
| Q3 24 | $35.9M | $270.1M | ||
| Q2 24 | $129.9M | $224.7M | ||
| Q1 24 | $89.1M | $166.3M |
| Q4 25 | 23.7% | 35.4% | ||
| Q3 25 | 14.9% | 46.3% | ||
| Q2 25 | 45.9% | 41.3% | ||
| Q1 25 | 36.3% | 24.6% | ||
| Q4 24 | 22.6% | 32.7% | ||
| Q3 24 | 13.3% | 42.3% | ||
| Q2 24 | 49.1% | 35.4% | ||
| Q1 24 | 33.9% | 26.3% |
| Q4 25 | 0.6% | 1.7% | ||
| Q3 25 | 0.7% | 1.3% | ||
| Q2 25 | 0.1% | 0.3% | ||
| Q1 25 | 0.2% | 0.0% | ||
| Q4 24 | 0.1% | 0.5% | ||
| Q3 24 | 0.1% | 0.6% | ||
| Q2 24 | 0.5% | 0.9% | ||
| Q1 24 | 0.1% | 1.5% |
| Q4 25 | 6.05× | 2.17× | ||
| Q3 25 | 3.42× | 2.44× | ||
| Q2 25 | 15.51× | 2.07× | ||
| Q1 25 | 0.53× | 1.02× | ||
| Q4 24 | 4.85× | 2.08× | ||
| Q3 24 | 1.77× | 2.57× | ||
| Q2 24 | 7.62× | 2.09× | ||
| Q1 24 | 0.90× | 1.33× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
BOX
Segment breakdown not available.
DBX
| US | $355.3M | 56% |
| Non Us | $280.9M | 44% |