DOCU - Dropbox: Huge Free Cash Flow Means Low Risk And High Reward

• Dropbox's business is excellent and its services are sticky. Over the years, the number of paying users has continued to increase, managing not to be crushed by the competition.
• The business requires little capital expenditure, and this allows Dropbox to generate tons of FCF. This lowers risk and allows the company to finance acquisitions and buybacks.
• Management has demonstrated a solid long-term vision and is aiming to grow the company while maintaining profitability. Read more on why I rate DBX a Strong Buy.

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