DBX · CIK 0001467623 · FY2025 live · 2025-12-31
DROPBOX, INC.
View as
Model
Z″
FY2025
−4.77
Zone
Distress
Prior
—
Market DD
—
1y PD
—
−4.77
Classic Z −0.72
Z″ −4.77 · distress below 1.10, grey to 2.60, safe above.
Z″ factor contributions
X1 Working capital / assets
Short-term liquidity. Carries more weight in Z″ than in classic Z.
−0.256.56 × = −1.62X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
−1.343.26 × = −4.37X3 EBIT / assets
Operating return on assets. Highest weight in Z″.
0.246.72 × = 1.63X4 Book equity / liabilities
Book equity versus the liability stack. Sales / assets is omitted so asset-light names are not punished for turnover.
−0.391.05 × = −0.41
Five-year path
Need two annual 10-Ks to draw a path. The desk will pull this issuer’s filings rather than invent a series.
Overview
rule-v1
DROPBOX, INC. is on Z″ at −4.77 (distress) for FY2025, from an SEC 10-K. Retained earnings / assets is the line that sets the print. This is the first live year on the desk. No market tape loaded. Z″ drops sales/assets so asset-light names are not punished for turnover. X4 is book equity on every name.
Book screen Distress; market PD —. Tape not priced — not a single default call.
Market DD · naive Merton
No market tape yet.
Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.
Sector peers
Closest Z″ scores · 18th percentile in Technology.
- CMRCDistressCommerce.com, Inc.−4.71
- WEAVDistressWeave Communications, Inc.−4.66
- WBSRDistressWebstar Technology Group Inc.−4.62
- LZMHDistressLZ Technology Holdings Ltd−4.96
- SHAZDistressSharonAI Holdings Inc.−4.35
- NTSKDistressNetskope Inc−4.34
- SMSIDistressSMITH MICRO SOFTWARE, INC.−5.29
- CANGDistressCango Inc.−4.15
KPI widgets
Current assets
$1.2B
Total assets
$2.8B
Current liabilities
$1.9B
Total liabilities
$4.6B
Working capital
−$703M
Retained earnings
−$3.8B
EBIT
$689M
Total sales
$2.5B
Book equity
−$1.8B
Accession 0001467623-26-000008. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Z″ is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 12 Sept 2026.