analyticsCloud Infrastructure / Cloud Storage
Data as of Q1 2026
Summary Verdict
DOCN: 1—DBX: 4wins
Rule of 40
22.4DOCN
25.0DBX
check_circleDBX leads
Revenue Growth
17.5%DOCN
-1.3%DBX
check_circleDOCN leads
Gross Margin
59%DOCN
80%DBX
check_circleDBX leads
FCF Margin
4.9%DOCN
26.3%DBX
check_circleDBX leads
Operating Margin
16.9%DOCN
27.8%DBX
check_circleDBX leads
NRR
—DOCN
—DBX
Metric
Rule of 40Efficiency score
DOCN
22.4
DBX
25.0check_circle
Revenue GrowthYoY
DOCN
17.5%check_circle
DBX
-1.3%
Gross Margin% of revenue
DOCN
59%
DBX
80%check_circle
FCF MarginFree cash flow
DOCN
4.9%
DBX
26.3%check_circle
Operating MarginGAAP
DOCN
16.9%
DBX
27.8%check_circle
NRRNet retention
DOCN
N/A
DBX
N/A
EV / RevenueValuation multiple
DOCN
20.5x
DBX
2.3xcheck_circle
Market CapUSD
DOCN
$17.7Bcheck_circle
DBX
$7.0B
ARR GrowthYoY
DOCN
N/A
DBX
N/A
CAC PaybackMonths to recover
DOCN
N/A
DBX
N/A
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insights
Analysis
As of Q1 2026, DigitalOcean Holdings, Inc. trades at 20.5x EV/Revenue versus Dropbox, Inc. at 2.3x. On the Rule of 40, DigitalOcean Holdings, Inc. scores 22.4 compared to Dropbox, Inc.'s 25.0, placing Dropbox, Inc. ahead in operating efficiency. Gross margins stand at DigitalOcean Holdings, Inc. 59% vs Dropbox, Inc. 80%.