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BOX Inc key statistics and ratios

In fiscal 2026, BOX Inc had an operating margin of 7.1% and a current ratio of 1.11. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2014Jan 20142015Jan 20152016Jan 20162017Jan 20172018Jan 20182019Jan 20192020Jan 20202021Jan 20212022Jan 20222023Jan 20232024Jan 20242025Jan 20252026Jan 2026LTMJul 2026
Gross margin79.1%78.2%71.2%71.9%73.3%71.5%69.0%70.8%71.5%74.5%74.9%79.1%79.2%79.5%
Operating margin−127.9%−77.0%−66.4%−37.8%−30.4%−22.1%−20.0%−4.9%−3.2%3.7%4.9%7.3%7.1%9.4%
Net margin−135.7%−77.7%−67.0%−38.1%−30.6%−22.1%−20.7%−5.6%−4.7%2.7%12.4%22.4%9.8%10.6%
Free-cash-flow margin−93.6%−57.1%−46.0%−4.4%4.7%6.7%5.6%——29.6%30.3%30.2%29.8%31.5%
Return on equity——−100.0%−142.8%———−50.1%——————
Return on assets—−34.1%−41.0%−30.6%−29.6%−22.4%−17.9%−3.8%−3.0%2.1%10.5%16.8%7.2%8.9%
Asset turnover—0.440.610.800.971.010.860.670.640.760.850.750.730.84
Current ratio—2.451.281.081.010.930.791.431.271.131.241.191.111.06
Debt to equity—14.9%29.0%53.5%267.2%127.4%178.9%197.0%——————
Interest cover (operating income ÷ interest)—————————7.6x13.2x13.1x7.8x11.5x
Effective tax rate—————————22.2%——−16.9%−7.8%
R&D as % of revenue37.0%30.7%33.9%29.1%27.0%26.9%28.7%26.1%25.0%24.6%24.0%24.3%25.0%24.7%
Capital spending as % of revenue19.7%17.9%24.1%3.8%2.3%2.4%0.8%——0.5%0.5%0.2%0.5%0.4%
Free cash flow ÷ net income—————————>999%243.4%134.8%303.7%297.8%
Dividends and buybacks ÷ free cash flow—————————93.6%56.4%64.0%82.7%99.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 5 checks passed · July 31, 2026
What it owns · $1.4bn
Short-term assets $758mLonger-term assets $646m
What it owes, and who funded it · $1.3bn
Short-term liabilities $716mLonger-term liabilities $542mShareholders' equity $-351m
  • Short-term assets cover short-term liabilities $758m of assets due within a year against $716m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $758m short-term assets against $542m of longer-dated liabilities.
  • More cash than debt $343m of cash against $452m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $394m of operating cash flow against $452m of debt.
  • Operating profit covers interest at least five times over Operating income of $116m against $10m of interest.

From BOX Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

40 /100

Weak moat

How hard BOX's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 7 / 20

    Cash operating profit has been a median 6.4% of total assets over 6 years.

  • Pricing power 19 / 20

    Gross margin has been a median 73.0%, moving by 3.3 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -1.8%; its worst year was -33.8%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 7 of 9 years, at a median 7.4% of revenue.

  • Discipline 8 / 20

    The diluted share count fell 4.9% over five years; stock-based pay has been a median 20.0% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (55 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: BOX vs MNDYBOX vs GTMBOX vs FIVN

More: Application Software stocks compared, Technology sector, rankings of US companies

Figures from BOX Inc's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to BOX Inc.