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Cloud Storage

Cloud storage and file management SaaS companies provide scalable, API-accessible storage infrastructure for enterprises and developers. Buyers range from IT teams managing compliance requirements to end-users seeking cross-device access. Track 2 public cloud storage companies by EV/Revenue and Rule of 40.

Med EV/Rev3.0x
Total Mkt Cap$10.6B▲ 3.3% vs prior qtr
Avg Rule of 4038Avg Gross Margin80%

What drives multiples in Cloud Storage

Cloud storage multiples reflect competitive intensity from hyperscaler native storage offerings, which creates pricing pressure on pure-play vendors. Companies that command premium multiples have differentiated through compliance-grade features, content collaboration workflows, or API-first developer ecosystems that make storage a platform rather than a commodity.

Top performers in this sector

BO

Box, Inc.

Rule of 40: 52

DB

Dropbox, Inc.

Rule of 40: 25

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Sector vs. all public SaaS

EV / Revenue3.0x vs 3.5x all-SaaS avg
Gross Margin80% vs 75% all-SaaS avg
Rule of 4038% vs 33% all-SaaS avg
Revenue Growth YoY3% vs 15% all-SaaS avg
At or above all-SaaS median
Below all-SaaS median
All-SaaS median

2 Companies

BI

Box, Inc.

BOX
Fastest growtharrow_outward
Market Cap
$3.7B
EV / Rev
3.0x
Rule of 40
52
Gross Margin
79%
DI

Dropbox, Inc.

DBX
Largest in sectorarrow_outward
Market Cap
$6.8B
EV / Rev
2.2x
Rule of 40
25
Gross Margin
80%

Related Benchmarks

NRR benchmarksRule of 40 rankingsEV/Revenue by sectorGross margin comparison
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