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PTC vs Dropbox: PTC and DBX compared
PTC is the larger company: $673M of revenue in its latest quarter (Q4 FY26) against $637M for Dropbox (Q3 2026). Dropbox is growing faster (+0.5% against -25% a year earlier). PTC is more profitable, with an operating margin of 31.6% against 27.5%.
Where the money goes: PTC and DBX
PTC (PTC) · Q4 FY26
PTC, Q4 FY26: revenue $673M (-25% year over year), operating margin 31.6%, net earnings $157M, operating cash flow $47.3M. The chart follows the revenue to costs, profit and cash.
Dropbox (DBX) · Q3 2026
Dropbox, Q3 2026: revenue $637M (+0.5% year over year), operating margin 27.5%, net earnings $116M, operating cash flow $259M. The chart follows the revenue to costs, profit and cash.
| PTC (PTC) | Dropbox (DBX) | |
|---|---|---|
| Latest quarter | Q4 FY26 | Q3 2026 |
| Revenue | $673M | $637M |
| Revenue growth, Y/Y | -25% | +0.5% |
| Gross margin | 82.8% | 80.6% |
| Operating margin | 31.6% | 27.5% |
| Net earnings | $157M | $116M |
| Net margin | 23.4% | 18.2% |
| Operating cash flow | $47.3M | $259M |
| Free cash flow | $37.7M | $252M |
| Market value | $22.4B | $7.8B |
| P/E | 18.3× | 17.9× |
| Analysts’ mean target | $201.00 | $33.50 |
Where the revenue comes from
PTC
- Recurring revenue: $645M (96%)
- Professional services: $24.1M (4%)
- Perpetual license: $3.9M (1%)
Questions
Which is bigger, PTC or Dropbox?
PTC is the larger company: $673M of revenue in its latest quarter (Q4 FY26) against $637M for Dropbox (Q3 2026).
Is PTC or Dropbox growing faster?
Dropbox is growing faster (+0.5% against -25% a year earlier).
Which is more profitable, PTC or Dropbox?
PTC is more profitable, with an operating margin of 31.6% against 27.5%.
More: PTC earnings · how PTC makes money · Dropbox earnings · how Dropbox makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Nov 4, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.