Dropbox vs Ringcentral
Dropbox and Ringcentral are similar in size: $2.52bn and $2.52bn of revenue in their latest fiscal years. Ringcentral grew faster (4.8% against -1.1%). Dropbox kept more of each dollar of sales as profit: a net margin of 20.2% against 1.7%.
| Latest fiscal year | DropboxDBX, 2025 | RingcentralRNG, 2025 |
|---|---|---|
| Revenue | $2.52bn | $2.52bn |
| Revenue growth | -1.1% | 4.8% |
| Net income | $508m | $43.4m |
| Operating margin | 27.3% | 4.8% |
| Net margin | 20.2% | 1.7% |
| Return on equity | — | — |
| Free cash flow | $931m | $587m |
| Cash | $891m | $133m |
| Total debt | $2.14bn | $1.26bn |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $1.71bn | $334m |
| Employees | 2,113 | 7,378 |
| Market value | $7.93bn | $6.90bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 53 (Moderate) | 49 (Moderate) |
| Insider trades, 12 months | 0 buys, 74 sales | 0 buys, 80 sales |