Dropbox vs RingCentral
Dropbox reported revenue of $2.5 billion in fiscal 2025, about the same as RingCentral's $2.5 billion in fiscal 2025. Dropbox's revenue fell 1.1% in its latest year, and RingCentral's grew 4.8%. Dropbox had an operating margin of 27.3%, against 4.8% at RingCentral. Free cash flow was $931 million at Dropbox and $587 million at RingCentral.
Side by side
| Dropbox | RingCentral | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $2.5B | $2.5B |
| Revenue growth | −1.1% | 4.8% |
| Revenue growth a year, last 5 years | 5.7% | 16.3% |
| Gross margin | 80.1% | 71.2% |
| Operating margin | 27.3% | 4.8% |
| Net margin | 20.2% | 1.7% |
| Free cash flow | $931M | $587M |
| Free cash flow margin | 36.9% | 23.4% |
| Return on capital | — | 14.7% |
| Net debt to EBITDA | 0.8x | 3.3x |
| Dividends and buybacks | $1.7B | $334M |
| Change in diluted share count | −15.7% | −1.0% |
| Last close | $37.73 | $86.31 |
| P/E at the last close | 21.0× | 11.4× |
| Insider trades, last 12 months | sold $45.6 million | sold $24.0 million |
| Piotroski F-score | 5 of 9 | 8 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
DropboxRingCentral
Operating margin
Percent of revenue
DropboxRingCentral
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
DropboxRingCentral
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Dropbox and RingCentral pages.