Comprehensive Stock Comparison
Compare Dropbox, Inc. (DBX) vs Box, Inc. (BOX) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | BOX | 5.0% revenue growth vs DBX's 1.9% |
| Value | DBX | Lower P/E (8.4x vs 18.3x) |
| Quality / Margins | DBX | 20.2% net margin vs BOX's 19.7% |
| Stability / Safety | BOX | Beta 0.55 vs DBX's 0.75 |
| Dividends | BOX | 0.4% yield; 5-year raise streak; DBX pays no meaningful dividend |
| Momentum (1Y) | DBX | -3.8% vs BOX's -28.0% |
| Efficiency (ROA) | DBX | 17.9% ROA vs BOX's 14.1%, ROIC 33.7% vs 25.8% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Dropbox is a cloud storage and content collaboration platform that enables users to store, sync, and share files across devices. It generates revenue primarily through subscription plans — individual, family, and business tiers — with the vast majority coming from paid users who upgrade from the free tier for additional storage and features. Its competitive advantage lies in its seamless cross-platform integration, simple user experience, and strong brand recognition that has created a large installed base of users.
Box is a cloud content management platform that helps organizations securely store, share, and collaborate on files from any device. It generates revenue primarily through subscription fees for its SaaS platform — with enterprise customers accounting for the majority of its recurring revenue — and additional services like implementation and support. The company's competitive advantage lies in its deep security and compliance features — particularly for regulated industries — and its extensive enterprise integrations that create switching costs.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
DBX leads in 4 of 6 categories — strongest in Financial Metrics and Valuation Metrics. 1 category is tied.
Financial Metrics (TTM)
DBX is the larger business by revenue, generating $2.5B annually — 2.2x BOX's $1.2B. Profitability is closely matched — net margins range from 20.2% (DBX) to 19.7% (BOX). On growth, BOX holds the edge at +9.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | DBXDropbox, Inc. | BOXBox, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $2.5B | $1.2B |
| EBITDAEarnings before interest/tax | $812M | $100M |
| Net IncomeAfter-tax profit | $508M | $227M |
| Free Cash FlowCash after capex | $931M | $335M |
| Gross MarginGross profit ÷ Revenue | +80.1% | +78.9% |
| Operating MarginEBIT ÷ Revenue | +27.3% | +6.1% |
| Net MarginNet income ÷ Revenue | +20.2% | +19.7% |
| FCF MarginFCF ÷ Revenue | +36.9% | +29.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | -1.1% | +9.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +26.5% | -7.8% |
Valuation Metrics
At 17.3x trailing earnings, BOX trades at a 3% valuation discount to DBX's 17.9x P/E. On an enterprise value basis, DBX's 5.8x EV/EBITDA is more attractive than BOX's 34.3x.
| Metric | DBXDropbox, Inc. | BOXBox, Inc. |
|---|---|---|
| Market CapShares × price | $1.9B | $3.4B |
| Enterprise ValueMkt cap + debt − cash | $3.6B | $3.5B |
| Trailing P/EPrice ÷ TTM EPS | 17.85x | 17.32x |
| Forward P/EPrice ÷ next-FY EPS est. | 8.37x | 18.30x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 5.78x | 34.33x |
| Price / SalesMarket cap ÷ Revenue | 0.76x | 3.11x |
| Price / BookPrice ÷ Book value/share | — | 17.74x |
| Price / FCFMarket cap ÷ FCF | 2.22x | 10.30x |
Profitability & Efficiency
On the Piotroski fundamental quality scale (0–9), DBX scores 6/9 vs BOX's 5/9, reflecting solid financial health.
| Metric | DBXDropbox, Inc. | BOXBox, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | — | +108.4% |
| ROA (TTM)Return on assets | +17.9% | +14.1% |
| ROICReturn on invested capital | +33.7% | +25.8% |
| ROCEReturn on capital employed | +25.0% | +12.2% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 5 |
| Debt / EquityFinancial leverage | — | 3.66x |
| Net DebtTotal debt minus cash | $1.7B | $97M |
| Cash & Equiv.Liquid assets | $1.3B | $625M |
| Total DebtShort + long-term debt | $3.0B | $721M |
| Interest CoverageEBIT ÷ Interest expense | 9.54x | 9.33x |
Total Returns (with DRIP)
A $10,000 investment in BOX five years ago would be worth $12,408 today (with dividends reinvested), compared to $10,795 for DBX. Over the past 12 months, DBX leads with a -3.8% total return vs BOX's -28.0%. The 3-year compound annual growth rate (CAGR) favors DBX at 7.0% vs BOX's -11.0% — a key indicator of consistent wealth creation.
| Metric | DBXDropbox, Inc. | BOXBox, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -7.2% | -18.3% |
| 1-Year ReturnPast 12 months | -3.8% | -28.0% |
| 3-Year ReturnCumulative with dividends | +22.5% | -29.4% |
| 5-Year ReturnCumulative with dividends | +7.9% | +24.1% |
| 10-Year ReturnCumulative with dividends | -12.3% | +104.6% |
| CAGR (3Y)Annualised 3-year return | +7.0% | -11.0% |
Risk & Volatility
BOX is the less volatile stock with a 0.55 beta — it tends to amplify market swings less than DBX's 0.75 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. DBX currently trades 77.1% from its 52-week high vs BOX's 60.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | DBXDropbox, Inc. | BOXBox, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.75x | 0.55x |
| 52-Week HighHighest price in past year | $32.40 | $38.80 |
| 52-Week LowLowest price in past year | $23.63 | $21.62 |
| % of 52W HighCurrent price vs 52-week peak | +77.1% | +60.7% |
| RSI (14)Momentum oscillator 0–100 | 45.0 | 45.4 |
| Avg Volume (50D)Average daily shares traded | 3.3M | 2.1M |
Analyst Outlook
Wall Street rates DBX as "Buy" and BOX as "Buy". Consensus price targets imply 52.9% upside for BOX (target: $36) vs 6.0% for DBX (target: $27). BOX is the only dividend payer here at 0.43% yield — a key consideration for income-focused portfolios.
| Metric | DBXDropbox, Inc. | BOXBox, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $26.50 | $36.00 |
| # AnalystsCovering analysts | 15 | 28 |
| Dividend YieldAnnual dividend ÷ price | — | +0.4% |
| Dividend StreakConsecutive years of raises | — | 5 |
| Dividend / ShareAnnual DPS | — | $0.10 |
| Buyback YieldShare repurchases ÷ mkt cap | +64.1% | +6.2% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Dropbox, Inc. (DBX) | 100 | 133.02 | +33.0% |
| Box, Inc. (BOX) | 100 | 153.23 | +53.2% |
Box, Inc. (BOX) returned +24% over 5 years vs Dropbox, Inc. (DBX)'s +8%. A $10,000 investment in BOX 5 years ago would be worth $12,408 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Dropbox, Inc. (DBX) | $845M | $2.5B | +201.6% |
| Box, Inc. (BOX) | $303M | $1.1B | +260.1% |
Box, Inc.'s revenue grew from $303M (2016) to $1.1B (2025) — a 15.3% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Dropbox, Inc. (DBX) | -24.9% | 17.7% | +171.3% |
| Box, Inc. (BOX) | -67.0% | 22.4% | +133.5% |
Box, Inc.'s net margin went from -67% (2016) to 22% (2025).
Chart 4P/E Ratio History — 5 Years
| Stock | 2021 | 2025 | Change |
|---|---|---|---|
| Dropbox, Inc. (DBX) | 28.9 | 21.5 | -25.6% |
| Box, Inc. (BOX) | 142.3 | 22 | -84.5% |
Dropbox, Inc. has traded in a 15x–29x P/E range over 4 years; current trailing P/E is ~18x. Box, Inc. has traded in a 22x–142x P/E range over 3 years; current trailing P/E is ~17x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Dropbox, Inc. (DBX) | -0.59 | 1.4 | +337.3% |
| Box, Inc. (BOX) | -1.67 | 1.36 | +181.4% |
Box, Inc.'s EPS grew from $-1.67 (2016) to $1.36 (2025).
Chart 6Free Cash Flow — 5 Years
Dropbox, Inc. generated $872M FCF in 2024 (+24% vs 2021). Box, Inc. generated $330M FCF in 2025 (+83% vs 2021).
DBX vs BOX: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is DBX or BOX a better buy right now?
Box, Inc. (BOX) offers the better valuation at 17.3x trailing P/E (18.3x forward), making it the more compelling value choice. Analysts rate Dropbox, Inc. (DBX) a "Buy" — based on 15 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — DBX or BOX?
On trailing P/E, Box, Inc. (BOX) is the cheapest at 17.3x versus Dropbox, Inc. at 17.9x. On forward P/E, Dropbox, Inc. is actually cheaper at 8.4x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — DBX or BOX?
Over the past 5 years, Box, Inc. (BOX) delivered a total return of +24.1%, compared to +7.9% for Dropbox, Inc. (DBX). A $10,000 investment in BOX five years ago would be worth approximately $12K today (assuming dividends reinvested). Over 10 years, the gap is even starker: BOX returned +104.6% versus DBX's -12.3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — DBX or BOX?
By beta (market sensitivity over 5 years), Box, Inc. (BOX) is the lower-risk stock at 0.55β versus Dropbox, Inc.'s 0.75β — meaning DBX is approximately 38% more volatile than BOX relative to the S&P 500.
05Which has better profit margins — DBX or BOX?
Box, Inc. (BOX) is the more profitable company, earning 22.4% net margin versus 17.7% for Dropbox, Inc. — meaning it keeps 22.4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: DBX leads at 19.1% versus 7.3% for BOX. At the gross margin level — before operating expenses — DBX leads at 82.5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is DBX or BOX more undervalued right now?
On forward earnings alone, Dropbox, Inc. (DBX) trades at 8.4x forward P/E versus 18.3x for Box, Inc. — 9.9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for BOX: 52.9% to $36.00.
07Which pays a better dividend — DBX or BOX?
In this comparison, BOX (0.4% yield) pays a dividend. DBX does not pay a meaningful dividend and should not be held primarily for income.
08Is DBX or BOX better for a retirement portfolio?
For long-horizon retirement investors, Box, Inc. (BOX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.55), +104.6% 10Y return). Both have compounded well over 10 years (BOX: +104.6%, DBX: -12.3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between DBX and BOX?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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