Dropbox (DBX) vs Toast (TOST)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Dropbox (DBX) has outperformed Toast (TOST) over the past year, gaining 13.6% versus a loss of 16.8%. Over five years, DBX leads with a +9.2% price change compared with -45.7% for TOST. Toast is the larger company by market cap ($17.65 billion vs $7.42 billion), about 2.4 times the size.
On valuation, Dropbox trades at a lower forward P/E (10.3x vs 17.6x for Toast). Dropbox converts more of its revenue into profit, with a net margin of 20.2% versus 5.6%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | DBX | TOST |
|---|---|---|
| Share price | $34.14 | $30.53 |
| Market cap | $7.42B | $17.65B |
| 1-day change | +3.20% | -0.07% |
| YTD return | +18.99% | -14.02% |
| 1-year return | +13.64% | -16.81% |
| 5-year return | +9.21% | -45.69% |
| P/E ratio (TTM) | 18.26 | 38.65 |
| Forward P/E | 10.33 | 17.60 |
| EPS (TTM) | $1.87 | $0.79 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $2.52B | $6.15B |
| Revenue growth (YoY) | -1.07% | +24.05% |
| Net income (latest FY) | $508.40M | $342.00M |
| Gross margin | 80.13% | 25.89% |
| Operating margin | 27.33% | 4.75% |
| Net margin | 20.17% | 5.56% |
| 52-week high | $38.17 | $39.73 |
| 52-week low | $21.70 | $22.26 |
| Distance from 52-week high | -10.56% | -23.15% |
| Analyst consensus | underperform | buy |
| Avg. price target upside | -6.85% | +27.48% |
| Average volume | 4.19M | 9.11M |
| Shares outstanding | 142.30M | 514.00M |
| Employees | 2,113 | 6,500 |
| Sector | Technology | Technology |
| Industry | Software - Infrastructure | Software - Infrastructure |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Toast is about 2.4 times larger than Dropbox by market value ($17.65B vs $7.42B).
- DBX has outperformed TOST by 30.4 percentage points over the past year.
- Toast trades at a higher earnings multiple (38.6x vs 18.3x trailing P/E).
- Dropbox is more profitable, keeping 20.2 cents of every revenue dollar as net income versus 5.6 cents for Toast.
- Toast grew revenue faster in its latest fiscal year (+24.05% vs -1.07%).
About Dropbox
DBX stock →Dropbox, Inc. provides a content collaboration platform in the United States and internationally.
Technology · Software - Infrastructure · 2,113 employees
About Toast
TOST stock →Toast, Inc. operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, India, and internationally.
Technology · Software - Infrastructure · 6,500 employees
DBX vs TOST FAQ
Which is bigger, Dropbox or Toast?
Toast (TOST) is larger, with a market capitalization of $17.65B compared with $7.42B for Dropbox (DBX).
Which stock has performed better over the past year, DBX or TOST?
DBX returned +13.64% over the past 12 months, compared with -16.81% for TOST (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, DBX or TOST?
DBX has the lower trailing P/E at 18.3, versus 38.6 for TOST. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Are Dropbox and Toast in the same industry?
Yes. Both are classified in the Software - Infrastructure industry within the Technology sector.