DBX vs. CFLT

Last updated Apr 1, 2026

Compare and contrast key facts about Dropbox, Inc. (DBX) and Confluent, Inc. (CFLT).

Performance

DBX vs. CFLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dropbox, Inc. (DBX) and Confluent, Inc. (CFLT). The values are adjusted to include any dividend payments, if applicable.

DBX vs. CFLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DBX Dropbox, Inc.	-18.27%	-7.46%	1.90%	31.72%	-8.80%	-17.76%
CFLT Confluent, Inc.	2.48%	8.15%	19.49%	5.22%	-70.83%	69.35%

Fundamentals

Market Cap DBX : $5.78B CFLT : $10.90B
EPS DBX : $1.92 CFLT : -$0.85
PS Ratio DBX : 2.39 CFLT : 9.20
Total Revenue (TTM) DBX : $2.52B CFLT : $1.17B
Gross Profit (TTM) DBX : $2.02B CFLT : $866.84M
EBITDA (TTM) DBX : $828.20M CFLT : -$339.97M

Returns By Period

In the year-to-date period, DBX achieves a -18.27% return, which is significantly lower than CFLT's 2.48% return.

DBX

• 1D: 0.71%
• 1M: -9.08%
• YTD: -18.27%
• 6M: -24.79%
• 1Y: -14.94%
• 3Y*: 1.67%
• 5Y*: -3.67%
• 10Y*: —

CFLT

• 1D: 0.00%
• 1M: 1.04%
• YTD: 2.48%
• 6M: 56.52%
• 1Y: 32.21%
• 3Y*: 12.30%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

DBX vs. CFLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBX

DBX Risk / Return Rank: 20
DBX Sharpe Ratio Rank: 18
DBX Sortino Ratio Rank: 18
DBX Omega Ratio Rank: 19
DBX Calmar Ratio Rank: 27
DBX Martin Ratio Rank: 19

CFLT

CFLT Risk / Return Rank: 53
CFLT Sharpe Ratio Rank: 50
CFLT Sortino Ratio Rank: 50
CFLT Omega Ratio Rank: 59
CFLT Calmar Ratio Rank: 52
CFLT Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DBX vs. CFLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dropbox, Inc. (DBX) and Confluent, Inc. (CFLT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DBX	CFLT	Difference
Sharpe ratio Return per unit of total volatility	-0.53	0.22	-0.75
Sortino ratio Return per unit of downside risk	-0.62	0.76	-1.37
Omega ratio Gain probability vs. loss probability	0.93	1.15	-0.22
Calmar ratio Return relative to maximum drawdown	-0.46	0.42	-0.88
Martin ratio Return relative to average drawdown	-1.19	0.97	-2.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBX vs. CFLT - Sharpe Ratio Comparison

The current DBX Sharpe Ratio is -0.53, which is lower than the CFLT Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of DBX and CFLT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DBX	CFLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.53	0.22	-0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.11	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	-0.10	+0.03

Correlation

The correlation between DBX and CFLT is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

DBX vs. CFLT - Dividend Comparison

Neither DBX nor CFLT has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

DBX vs. CFLT - Drawdown Comparison

The maximum DBX drawdown since its inception was -62.64%, smaller than the maximum CFLT drawdown of -83.00%. Use the drawdown chart below to compare losses from any high point for DBX and CFLT.

Drawdown Indicators

	DBX	CFLT	Difference
Max Drawdown Largest peak-to-trough decline	-62.64%	-83.00%	+20.36%
Max Drawdown (1Y) Largest decline over 1 year	-31.15%	-41.83%	+10.68%
Max Drawdown (5Y) Largest decline over 5 years	-41.52%	—	—
Current Drawdown Current decline from peak	-45.90%	-66.89%	+20.99%
Average Drawdown Average peak-to-trough decline	-40.53%	-64.03%	+23.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.17%	18.06%	-5.89%

Volatility

DBX vs. CFLT - Volatility Comparison

Dropbox, Inc. (DBX) has a higher volatility of 9.33% compared to Confluent, Inc. (CFLT) at 1.22%. This indicates that DBX's price experiences larger fluctuations and is considered to be riskier than CFLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBX	CFLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.33%	1.22%	+8.11%
Volatility (6M) Calculated over the trailing 6-month period	20.84%	33.33%	-12.49%
Volatility (1Y) Calculated over the trailing 1-year period	28.25%	63.54%	-35.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.11%	76.23%	-44.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.51%	76.23%	-37.72%

Financials

DBX vs. CFLT - Profitability Comparison

The chart below illustrates the profitability comparison between Dropbox, Inc. and Confluent, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

DBX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Dropbox, Inc. reported a gross profit of 504.10M and revenue of 636.20M. Therefore, the gross margin over that period was 79.2%.

CFLT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Confluent, Inc. reported a gross profit of 235.16M and revenue of 314.82M. Therefore, the gross margin over that period was 74.7%.

DBX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Dropbox, Inc. reported an operating income of 156.10M and revenue of 636.20M, resulting in an operating margin of 24.5%.

CFLT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Confluent, Inc. reported an operating income of -99.17M and revenue of 314.82M, resulting in an operating margin of -31.5%.

DBX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Dropbox, Inc. reported a net income of 108.70M and revenue of 636.20M, resulting in a net margin of 17.1%.

CFLT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Confluent, Inc. reported a net income of -79.25M and revenue of 314.82M, resulting in a net margin of -25.2%.