Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
DropboxDBX +1.43%78 Net Cash per Share is $-17.76 as of Jun. 2026. GuruFocus rates DBX with a GF Score™ of 78/100 and a GF Value™ of $35.84 (Fairly Valued). The stock has 5 warning signs investors should review. Among 854 Software companies, Dropbox ranks worse than 117095.9% on this metric.
The historical rank and industry rank for Dropbox's Net Cash per Share or its related term are showing as below:
During the past 11 years, the highest Price-to-Net-Cash Ratio of Dropbox was 1080.67. The lowest was 113.50. And the median was 178.87.
DBX's Price-to-Net-Cash is not ranked *
in the Software industry.
Industry Median: 7.96 * Ranked among companies with meaningful Price-to-Net-Cash only.
Ben Graham invested in situations where the company's stock price was lower than its net-cash. He assigned some value to the company's other current asset. The value is called Net Current Asset Value (NCAV). One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
You can find companies that are traded below their Net Current Asset Value (NCAV) with our Net-Net screener.
Dropbox Net Cash per Share Related Terms
Dropbox Net Cash per Share Historical Data
* Premium members only.
The historical data trend for Dropbox's Net Cash per Share can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
DBX vs ZETA, GTLB, S: Net Cash per Share Comparison
For the Software - Infrastructure subindustry, Dropbox's Price-to-Net-Cash, along with its competitors' market caps and Price-to-Net-Cash data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Dropbox Price-to-Net-Cash vs Software Industry
For the Software industry and Technology sector, Dropbox's Price-to-Net-Cash distribution charts can be found below:
* The bar in red indicates where Dropbox's Price-to-Net-Cash falls into.
In the calculation of a company's Net Cash per Share, assets other than cash and short term investments are considered to be worth nothing. But the company has to pay its debt and other liabilities in full. This is an extremely conservative way of valuation. Most companies have negative Net Cash per Share. But sometimes a company's price may be lower than its net-cash.
Dropbox's Net Cash per Share for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Dropbox (DBX) has a Net Cash per Share of $-17.76 as of Jun. 2026. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on Dropbox and its competitors. According to the industry distribution chart, Dropbox ranks #999999 out of 854 companies in the Software industry.
Is Dropbox's Net Cash per Share too high?
Dropbox's current Net Cash per Share is $-17.76. Based on the distribution chart, Dropbox ranks #999999 out of 854 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Dropbox has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Dropbox's Net Cash per Share compare to ZETA and GTLB?
According to the Software industry distribution chart, Dropbox ranks #999999 out of 854 companies for Net Cash per Share. This places Dropbox in the lower half of its industry. The industry median Net Cash per Share is 7.96. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Cash per Share for a Software company?
The median Net Cash per Share among Software companies is 7.96, based on 854 companies in the industry. Companies in the top quartile (top 25%) have a Net Cash per Share significantly above this median, while those in the bottom quartile fall well below. However, Net Cash per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Cash per Share mean?
A high Net Cash per Share can signal that a stock is expensive relative to its fundamentals. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on Dropbox and its competitors. For the Software industry, the median Net Cash per Share is 7.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dropbox's current Net Cash per Share is $-17.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dropbox stock overvalued right now?
Based on GuruFocus' analysis, Dropbox (DBX) is currently considered Fairly Valued. The stock's GF Value™ is $35.84, compared to a current price of $35.55 — trading 0.8% below its estimated fair value. The current Net Cash per Share is $-17.76. Dropbox's overall GF Score™ is 78/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Cash per Share calculated?
Net Cash per Share is calculated from a company's financial statements. For Dropbox (DBX), the current Net Cash per Share is $-17.76 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Dropbox (DBX) Overvalued in 2026?
Based on GuruFocus' analysis, Dropbox stock appears to be undervalued.
The current stock price of $35.55 is trading 0.8% below its estimated GF Value™ of $35.84.
GuruFocus considers Dropbox to be Fairly Valued.
Key valuation signals for DBX:
Net Cash per Share: $-17.76
GF Value™: $35.84 vs. price of $35.55 (0.8% below fair value)
No single metric tells the full story. See the DBX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dropbox provides cloud storage and content collaboration tools, focusing on individuals and small to midsize businesses. Founded in 2007, Dropbox was a pioneer in the file sync and share market. In recent years, the firm has been emphasizing its Dash product, which facilitates AI-powered universal search across unstructured cloud data.
78GF Score
Get the complete analysis for DBX
Net Cash per Share is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
DBX has been successfully added to your 
