DBX
Dropbox, Inc.
DBX's outlook is improving, though it still trails on the overall score.
MSFT
Microsoft Corporation
MSFT has the edge over DBX overall, supported by stronger valuation and stronger modeled upside.
DBX Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Stable |
DBX's profitability and cash flow are currently strong, and its revenue and balance sheet are stable.
MSFT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
MSFT's revenue, profitability, cash flow and balance sheet are all currently healthy.
DBX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 10x | $33.51 | — |
| Cheap | 15x | $27.58 | -18% |
| Fair | 18x | $34.00 | +1.5% |
| Current | 18x | $33.51 | — |
| Expensive | 25x | $45.96 | +37% |
Historical ranges are pointers, not guarantees.
DBX's PE is in its fair range at 18x. If earnings grow as analysts expect, today's price would be 10x next year's earnings, in its cheap range.
MSFT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 25x | $523 | — |
| Cheap | 27x | $525 | +0.4% |
| Current | 27x | $523 | — |
| Fair | 34x | $652 | +25% |
| Expensive | 37x | $711 | +36% |
Historical ranges are pointers, not guarantees.
MSFT has the edge over DBX in the historical PE scenario, which offers more potential upside but is not a forecast.
DBX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect DBX's earnings to grow and its profitability to improve, with its revenue holding steady.
MSFT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for MSFT, with profitability holding steady.
DBX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.25 | +76% |
| Q3 2026 | $1.85 | +5.1% |
| Q2 2026 | $1.80 | +10% |
| Q1 2026 | $1.83 | +20% |
| Q4 2025 | $1.86 | +33% |
| Q3 2025 | $1.76 | +2.3% |
| Q2 2025 | $1.63 | -4.7% |
| Q1 2025 | $1.52 | +1.3% |
| Q4 2024 | $1.40 | +6.9% |
DBX earned $1.85 per share over the past year, up 5.1% from the year before.
MSFT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.79 | +8.6% |
| Q3 2026 | $19.15 | +36% |
| Q2 2026 | $17.95 | +32% |
| Q1 2026 | $16.80 | +30% |
| Q4 2025 | $15.99 | +29% |
| Q3 2025 | $14.06 | +16% |
| Q2 2025 | $13.64 | +16% |
| Q1 2025 | $12.93 | +12% |
| Q4 2024 | $12.41 | +12% |
MSFT has the edge over DBX on earnings, with more consistent year-over-year improvement.
DBX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $637.3M | +0.5% |
| Q2 2026 | $631.5M | +0.9% |
| Q1 2026 | $629.5M | +0.8% |
| Q4 2025 | $636.2M | -1.1% |
| Q3 2025 | $634.4M | -0.7% |
| Q2 2025 | $625.7M | -1.4% |
| Q1 2025 | $624.7M | -1% |
| Q4 2024 | $643.6M | +1.4% |
DBX's revenue grew through 2023 and has held roughly level since: $637M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 27% | -0.1 points |
| Q2 2026 | 26% | -0.8 points |
| Q1 2026 | 27% | -2 points |
| Q4 2025 | 26% | +12 points |
| Q3 2025 | 28% | +7.5 points |
| Q2 2025 | 27% | +6.9 points |
| Q1 2025 | 29% | +6.7 points |
| Q4 2024 | 14% | -28 points |
DBX's operating margin was 27% last quarter, about level with the same quarter a year ago.
MSFT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $92.3B | +19% |
| Q2 2026 | $90B | +18% |
| Q1 2026 | $82.9B | +18% |
| Q4 2025 | $81.3B | +17% |
| Q3 2025 | $77.7B | +18% |
| Q2 2025 | $76.4B | +18% |
| Q1 2025 | $70.1B | +13% |
| Q4 2024 | $69.6B | +12% |
MSFT has the edge over DBX on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 50% | +0.9 points |
| Q2 2026 | 45% | +0.2 points |
| Q1 2026 | 46% | +0.7 points |
| Q4 2025 | 47% | +1.6 points |
| Q3 2025 | 49% | +2.3 points |
| Q2 2025 | 45% | +1.8 points |
| Q1 2025 | 46% | +1.1 points |
| Q4 2024 | 45% | +1.9 points |
MSFT has the edge over DBX on profitability, with a higher operating margin.
DBX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $251.8M | -14% |
| Q2 2026 | $235.2M | -9% |
| Q1 2026 | $203.3M | +32% |
| Q4 2025 | $224.9M | +6.8% |
| Q3 2025 | $293.7M | +8.7% |
| Q2 2025 | $258.5M | +15% |
| Q1 2025 | $153.7M | -7.6% |
| Q4 2024 | $210.5M | +11% |
DBX has the edge over MSFT on cash flow, with more consistent year-over-year improvement.
MSFT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $18.6B | -27% |
| Q2 2026 | $19.6B | -23% |
| Q1 2026 | $15.8B | -22% |
| Q4 2025 | $5.9B | -9.3% |
| Q3 2025 | $25.7B | +33% |
| Q2 2025 | $25.6B | +9.6% |
| Q1 2025 | $20.3B | -3.2% |
| Q4 2024 | $6.5B | -29% |
MSFT's free cash flow has been positive every quarter for seven years: $60B over the past year, down 23% from the year before.
DBX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -1.7M shares |
| 1 year | -15% | -40M shares |
| 3 years | -35% | -121M shares |
| 5 years | -43% | -173M shares |
| Available history | -45% | -187M shares |
DBX has the edge over MSFT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $150.2M |
| Q2 2026 | $330.3M |
| Q1 2026 | $366.8M |
| Q4 2025 | $415M |
| Q3 2025 | $389.8M |
| Q2 2025 | $410M |
| Q1 2025 | $499.1M |
| Q4 2024 | $353.3M |
DBX spent $1.3B buying back its own shares over the past year, down 24% from the year before.
MSFT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -7M shares |
| 1 year | -0.3% | -20M shares |
| 3 years | -0.2% | -16M shares |
| 5 years | -1.6% | -121M shares |
| Available history | -3.2% | -245M shares |
MSFT has 7.4B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4.4B |
| Q2 2026 | $4.6B |
| Q1 2026 | $4.6B |
| Q4 2025 | $7.4B |
| Q3 2025 | $5.7B |
| Q2 2025 | $4.5B |
| Q1 2025 | $4.8B |
| Q4 2024 | $5B |
MSFT spent $21B buying back its own shares over the past year, up 5.2% from the year before.
DBX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.8x | Healthy |
| Q2 2026 | 1.9x | Healthy |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 0.7x | Very low |
| Q3 2025 | 0.5x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.0x | Very low |
| Q4 2024 | -0.6x | Net Cash |
DBX's net debt is about 1.8 years of its operating earnings (EBITDA), up from less than a year a year ago.
MSFT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | 0.1x | Very low |
MSFT has the edge over DBX on leverage, with a lower net debt burden relative to earnings.
DBX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.7 | Neutral |
| Stochastic | 53.7 | Neutral |
DBX's weekly RSI is 53 (neutral) and its Stochastic is 54 (neutral).
MSFT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.1 | Neutral |
| Stochastic | 68.0 | Neutral |
MSFT's weekly RSI is 62 (neutral) and its Stochastic is 68 (neutral).
DBX PE vs Technology Sector
| Metric | DBX | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 28x | 35% below |
| PE % | 44 | 35 | 9 pts above |
DBX has the edge over MSFT on valuation relative to its sector.
MSFT PE vs Technology Sector
| Metric | MSFT | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 28x | 2% below |
| PE % | 16 | 35 | 19 pts below |
MSFT is trading at 27x earnings, in line with the Technology sector's median of 28x.
DBX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $34.8 | 3.7% below |
| 20 week MA | $33.7 | 0.7% below |
| 50 week MA | $29.1 | 15% above |
| 100 week MA | $29.0 | 16% above |
| 200 week MA | $27.1 | 24% above |
DBX has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 24% above its 200-week average.
MSFT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $524.7 | 0.3% below |
| 20 week MA | $484.8 | 7.9% above |
| 50 week MA | $446.9 | 17% above |
| 100 week MA | $453.8 | 15% above |
| 200 week MA | $411.5 | 27% above |
MSFT has the edge over DBX on trend strength, trading above more of its moving averages.
DBX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $17.7 | $24.7 | +39% |
| 2021 | $24.7 | $25.0 | +1.3% |
| 2022 | $25.0 | $22.5 | -10% |
| 2023 | $22.5 | $29.5 | +31% |
| 2024 | $29.5 | $30.5 | +3.5% |
| 2025 | $30.5 | $28.0 | -8.3% |
| 2026 YTD | $28.0 | $33.5 | +20% |
DBX has the edge over MSFT on returns for 2026, with the stronger performance.
MSFT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $159.0 | $222.8 | +40% |
| 2021 | $222.8 | $334.7 | +50% |
| 2022 | $334.7 | $238.7 | -29% |
| 2023 | $238.7 | $376.0 | +58% |
| 2024 | $376.0 | $430.5 | +14% |
| 2025 | $430.5 | $487.7 | +13% |
| 2026 YTD | $487.7 | $523.0 | +7.2% |
MSFT has finished higher in five of the last six years, two of them by more than 50%. It's up 7.2% so far in 2026.