Dropbox recently announced ‘the new Dropbox’. Here is a link to the video which everyone investing in cloud/saas space must watch. But before I discuss the new Dropbox, a little financial snapshot of what’s going on with the company is needed.
Dropbox currently trades at a TTM EV/revenue multiple of 8.8x. They have non-GAAP operating margins of 11% and have provided 2019 revenue guidance of 17% growth and FCF margin guidance of around 28%. Now I wouldn’t call the stock cheap based on these numbers, but relatively speaking in this bubbly SAAS tape it almost