DBX
Dropbox, Inc.
DBX has slightly lower modeled downside risk, despite its lower overall score.
MU
Micron Technology, Inc.
MU 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.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
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 has the edge over MU in the historical PE scenario, which offers more potential upside but is not a forecast.
MU PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 4.6x | $798 | — |
| Cheap | 10x | $777 | -2.7% |
| Current | 11x | $798 | — |
| Fair | 22x | $1,646 | +106% |
| Expensive | 32x | $2,404 | +201% |
Historical ranges are pointers, not guarantees.
MU's PE is in its cheap range at 11x. If earnings grow as analysts expect, today's price would be 4.6x next year's earnings.
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.
MU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Moderate |
MU has the edge over DBX on the outlook, with more favorable revenue expectations.
DBX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.28 | +77% |
| 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.
MU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $174.95 | +135% |
| Q3 2026 | $74.33 | +879% |
| Q2 2026 | $44.17 | +693% |
| Q1 2026 | $21.18 | +405% |
| Q4 2025 | $10.52 | +201% |
| Q3 2025 | $7.59 | +984% |
| Q2 2025 | $5.57 | +$6.99 |
| Q1 2025 | $4.19 | +$7.64 |
| Q4 2024 | $3.49 | +$9.77 |
MU 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.
MU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $54.2B | +379% |
| Q2 2026 | $41.5B | +346% |
| Q1 2026 | $23.9B | +196% |
| Q4 2025 | $13.6B | +57% |
| Q3 2025 | $11.3B | +46% |
| Q2 2025 | $9.3B | +37% |
| Q1 2025 | $8.1B | +38% |
| Q4 2024 | $8.7B | +84% |
MU has the edge over DBX on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 81% | +48 points |
| Q2 2026 | 80% | +57 points |
| Q1 2026 | 68% | +46 points |
| Q4 2025 | 45% | +20 points |
| Q3 2025 | 32% | +13 points |
| Q2 2025 | 23% | +13 points |
| Q1 2025 | 22% | +19 points |
| Q4 2024 | 25% | +49 points |
MU 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's free cash flow has been positive every quarter for seven years: $915M over the past year, about the same as the year before.
MU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $32.9B | +45543% |
| Q2 2026 | $17.6B | +951% |
| Q1 2026 | $5.5B | +$5.6B |
| Q4 2025 | $3B | +7853% |
| Q3 2025 | $72M | -75% |
| Q2 2025 | $1.7B | +322% |
| Q1 2025 | -$113M | +$52M |
| Q4 2024 | $38M | +$433M |
MU has the edge over DBX on cash flow, with more consistent year-over-year improvement.
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 MU 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.
MU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -2M shares |
| 1 year | +1.6% | +18M shares |
| 3 years | +4.6% | +50M shares |
| 5 years | +0.2% | +2M shares |
| Available history | +1.2% | +14M shares |
MU has 1.1B diluted shares, up 1.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $350M |
| Q4 2025 | $300M |
| Q3 2024 | $300M |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
MU has spent almost nothing on buybacks in the past year.
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.
MU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | 0.1x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.6x | Very low |
MU 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).
MU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.1 | Neutral |
| Stochastic | 26.9 | Neutral |
MU's weekly RSI is 47 (neutral) and its Stochastic is 27 (neutral).
DBX PE vs Technology Sector
| Metric | DBX | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 28x | 35% below |
| PE % | 44 | 35 | 9 pts above |
DBX is trading at 18x earnings, a 35% discount to the Technology sector's median of 28x.
MU PE vs Technology Sector
| Metric | MU | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 28x | 61% below |
| PE % | 18 | 35 | 17 pts below |
MU has the edge over DBX on valuation relative to its sector.
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.
MU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $914.5 | 13% below |
| 20 week MA | $931.0 | 14% below |
| 50 week MA | $685.9 | 16% above |
| 100 week MA | $405.4 | 97% above |
| 200 week MA | $246.0 | 225% above |
MU has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 225% above its 200-week average.
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 finished higher in four of the last six years. It's up 20% so far in 2026.
MU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $54.0 | $70.6 | +31% |
| 2021 | $70.6 | $94.4 | +34% |
| 2022 | $94.4 | $50.2 | -47% |
| 2023 | $50.2 | $85.3 | +70% |
| 2024 | $85.3 | $88.6 | +3.9% |
| 2025 | $88.6 | $284.8 | +221% |
| 2026 YTD | $284.8 | $798.4 | +180% |
MU has the edge over DBX on returns for 2026, with the stronger performance.