Box Inc Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Box Inc has an operating margin of 7.3%, meaning the company retains $7 of operating profit per $100 of revenue. This results in a moderate score of 37/100, indicating healthy but not exceptional operating efficiency. This is up from 4.9% the prior year.
Box Inc's revenue grew 5.0% year-over-year to $1.1B, a solid pace of expansion. This earns a growth score of 43/100.
Box Inc's current ratio of 1.20 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 28/100, which could limit financial flexibility.
Box Inc converts 30.2% of revenue into free cash flow ($329.7M). This strong cash generation earns a score of 100/100.
Box Inc scores 1.18, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($3.3B) relative to total liabilities ($1.9B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Box Inc passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Box Inc generates $1.36 in operating cash flow ($332.3M OCF vs $244.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Box Inc earns $13.1 in operating income for every $1 of interest expense ($79.6M vs $6.1M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
This page shows Box Inc (BOX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Box Inc generated $1.1B in revenue in fiscal year 2025. This represents an increase of 5.0% from the prior year.
Box Inc's EBITDA was $101.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 0.3% from the prior year.
Box Inc generated $329.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 5.0% from the prior year.
Box Inc reported $244.6M in net income in fiscal year 2025. This represents an increase of 89.6% from the prior year.
Box Inc earned $1.36 per diluted share (EPS) in fiscal year 2025. This represents an increase of 103.0% from the prior year.
Box Inc held $689.6M in cash against $449.2M in long-term debt as of fiscal year 2025.
Box Inc had 145M shares outstanding in fiscal year 2025. This represents a decrease of 0.5% from the prior year.
Box Inc's gross margin was 79.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 4.2 percentage points from the prior year.
Box Inc's operating margin was 7.3% in fiscal year 2025, reflecting core business profitability. This is up 2.4 percentage points from the prior year.
Box Inc's net profit margin was 22.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 10.0 percentage points from the prior year.
Box Inc invested $264.9M in research and development in fiscal year 2025. This represents an increase of 6.5% from the prior year.
Box Inc spent $211.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 19.2% from the prior year.
Box Inc invested $2.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 45.3% from the prior year.
BOX Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $301.1M+2.4% | $294.0M+6.4% | $276.3M+0.1% | $275.9M+2.2% | $270.0M+2.0% | $264.7M+0.7% | $262.9M+0.5% | $261.5M |
| Cost of Revenue | $61.6M+0.1% | $61.5M+1.4% | $60.7M+9.2% | $55.6M+0.1% | $55.5M-4.7% | $58.3M-7.1% | $62.7M-9.4% | $69.2M |
| Gross Profit | $239.5M+3.0% | $232.5M+7.8% | $215.6M-2.2% | $220.4M+2.7% | $214.5M+3.9% | $206.4M+3.1% | $200.2M+4.1% | $192.3M |
| R&D Expenses | $73.9M+3.1% | $71.7M-0.8% | $72.3M+6.5% | $67.9M+3.7% | $65.4M+4.4% | $62.7M+1.2% | $61.9M+1.4% | $61.0M |
| SG&A Expenses | $37.5M-1.4% | $38.0M+0.3% | $37.9M+12.4% | $33.7M+0.3% | $33.6M+1.6% | $33.1M+6.0% | $31.2M-2.4% | $32.0M |
| Operating Income | $25.1M+21.8% | $20.6M+224.7% | $6.3M-72.9% | $23.4M+15.4% | $20.3M+12.6% | $18.0M-14.9% | $21.2M+86.0% | $11.4M |
| Interest Expense | $2.7M+0.1% | $2.7M-0.6% | $2.7M+67.5% | $1.6M+102.3% | $796K-1.1% | $805K | N/A | N/A |
| Income Tax | $15.3M+49.0% | $10.3M+108.0% | $5.0M+12.5% | $4.4M-1.9% | $4.5M-3.4% | $4.6M+106.3% | -$73.7M-3018.0% | $2.5M |
| Net Income | $12.1M-10.3% | $13.4M+64.1% | $8.2M-36.4% | $12.9M-37.1% | $20.5M+19.0% | $17.2M-82.6% | $99.2M+831.3% | $10.7M |
| EPS (Diluted) | $0.050.0% | $0.05+150.0% | $0.02-60.0% | $0.05-50.0% | $0.10+25.0% | $0.08-86.0% | $0.57+1325.0% | $0.04 |
BOX Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.6B-0.9% | $1.6B-1.0% | $1.6B+21.2% | $1.4B+20.8% | $1.1B-4.7% | $1.2B-5.2% | $1.2B+20.1% | $1.0B |
| Current Assets | $1.0B-1.8% | $1.0B-1.3% | $1.1B+9.7% | $962.6M+31.2% | $733.7M-7.0% | $788.7M-6.4% | $842.2M+23.1% | $684.3M |
| Cash & Equivalents | $633.2M-3.7% | $657.8M-4.6% | $689.6M+13.3% | $608.8M+49.7% | $406.6M-9.5% | $449.5M+17.1% | $383.7M+1.5% | $377.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $204.9M+8.1% | $189.6M+6.4% | $178.1M-5.5% | $188.5M+6.2% | $177.5M+24.1% | $143.1M-49.2% | $281.5M+68.7% | $166.9M |
| Goodwill | $81.3M+0.6% | $80.8M+0.3% | $80.5M+2.3% | $78.7M+2.6% | $76.8M+0.5% | $76.4M-0.4% | $76.8M+4.7% | $73.3M |
| Total Liabilities | $1.9B+0.1% | $1.9B-1.4% | $1.9B+4.8% | $1.8B+17.6% | $1.6B-0.9% | $1.6B-5.9% | $1.7B+6.2% | $1.6B |
| Current Liabilities | $853.0M0.0% | $853.2M-2.7% | $876.8M+49.4% | $587.1M0.0% | $586.9M-0.8% | $591.4M-12.9% | $679.3M+19.0% | $570.6M |
| Long-Term Debt | $450.4M+0.1% | $449.8M+0.1% | $449.2M-31.1% | $651.7M+75.3% | $371.8M+0.1% | $371.3M+0.1% | $370.8M+0.1% | $370.3M |
| Total Equity | -$286.6M-6.4% | -$269.4M+3.8% | -$280.1M+41.6% | -$479.9M-9.2% | -$439.4M-10.4% | -$397.9M+7.7% | -$431.1M+20.2% | -$540.4M |
| Retained Earnings | -$928.4M+1.3% | -$940.5M+1.4% | -$953.9M+17.5% | -$1.2B+1.1% | -$1.2B+1.7% | -$1.2B+1.4% | -$1.2B+7.6% | -$1.3B |
BOX Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $73.0M+58.9% | $46.0M-63.8% | $127.1M+103.0% | $62.6M+72.4% | $36.3M-72.3% | $131.2M+46.9% | $89.3M+24.5% | $71.8M |
| Capital Expenditures | $1.7M-16.3% | $2.1M+493.1% | $349K+28.8% | $271K-31.9% | $398K-68.8% | $1.3M+427.3% | $242K-90.2% | $2.5M |
| Free Cash Flow | $71.3M+62.5% | $43.9M-65.4% | $126.7M+103.4% | $62.3M+73.6% | $35.9M-72.4% | $129.9M+45.8% | $89.1M+28.5% | $69.3M |
| Investing Cash Flow | -$7.3M+14.1% | -$8.5M+18.1% | -$10.4M+51.6% | -$21.5M-155.3% | $38.8M+267.5% | -$23.2M+42.2% | -$40.1M-126.7% | -$17.7M |
| Financing Cash Flow | -$89.8M-37.6% | -$65.3M-5.7% | -$61.8M-138.1% | $162.1M+233.5% | -$121.4M-240.1% | -$35.7M+21.3% | -$45.4M+32.7% | -$67.5M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $76.9M+92.5% | $39.9M-19.6% | $49.7M+65.7% | $30.0M-71.9% | $106.6M+231.6% | $32.1M+51.5% | $21.2M-58.4% | $51.0M |
BOX Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 79.5%+0.5pp | 79.1%+1.0pp | 78.0%-1.8pp | 79.9%+0.4pp | 79.4%+1.4pp | 78.0%+1.9pp | 76.1%+2.6pp | 73.5% |
| Operating Margin | 8.3%+1.3pp | 7.0%+4.7pp | 2.3%-6.2pp | 8.5%+1.0pp | 7.5%+0.7pp | 6.8%-1.2pp | 8.1%+3.7pp | 4.3% |
| Net Margin | 4.0%-0.6pp | 4.6%+1.6pp | 3.0%-1.7pp | 4.7%-2.9pp | 7.6%+1.1pp | 6.5%-31.2pp | 37.8%+33.7pp | 4.1% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 0.8%-0.1pp | 0.8%+0.3pp | 0.5%-0.4pp | 0.9%-0.9pp | 1.8%+0.4pp | 1.5%-6.5pp | 8.0%+7.0pp | 1.0% |
| Current Ratio | 1.20-0.0 | 1.22+0.0 | 1.20-0.4 | 1.64+0.4 | 1.25-0.1 | 1.33+0.1 | 1.24+0.0 | 1.20 |
| Debt-to-Equity | -1.57+0.1 | -1.67-0.1 | -1.60-0.2 | -1.36-0.5 | -0.85+0.1 | -0.93-0.1 | -0.86-0.2 | -0.69 |
| FCF Margin | 23.7%+8.8pp | 14.9%-30.9pp | 45.9%+23.3pp | 22.6%+9.3pp | 13.3%-35.8pp | 49.1%+15.2pp | 33.9%+7.4pp | 26.5% |
Note: Shareholder equity is negative (-$280.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is Box Inc's annual revenue?
Box Inc (BOX) reported $1.1B in total revenue for fiscal year 2025. This represents a 5.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Box Inc's revenue growing?
Box Inc (BOX) revenue grew by 5% year-over-year, from $1.0B to $1.1B in fiscal year 2025.
Is Box Inc profitable?
Yes, Box Inc (BOX) reported a net income of $244.6M in fiscal year 2025, with a net profit margin of 22.4%.
What is Box Inc's earnings per share (EPS)?
Box Inc (BOX) reported diluted earnings per share of $1.36 for fiscal year 2025. This represents a 103.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Box Inc's EBITDA?
Box Inc (BOX) had EBITDA of $101.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Box Inc have?
As of fiscal year 2025, Box Inc (BOX) had $689.6M in cash and equivalents against $449.2M in long-term debt.
What is Box Inc's gross margin?
Box Inc (BOX) had a gross margin of 79.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Box Inc's operating margin?
Box Inc (BOX) had an operating margin of 7.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Box Inc's net profit margin?
Box Inc (BOX) had a net profit margin of 22.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Box Inc's free cash flow?
Box Inc (BOX) generated $329.7M in free cash flow during fiscal year 2025. This represents a 5.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Box Inc's operating cash flow?
Box Inc (BOX) generated $332.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Box Inc's total assets?
Box Inc (BOX) had $1.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Box Inc's capital expenditures?
Box Inc (BOX) invested $2.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Box Inc spend on research and development?
Box Inc (BOX) invested $264.9M in research and development during fiscal year 2025.
Does Box Inc buy back shares?
Yes, Box Inc (BOX) spent $211.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Box Inc have outstanding?
Box Inc (BOX) had 145M shares outstanding as of fiscal year 2025.
What is Box Inc's current ratio?
Box Inc (BOX) had a current ratio of 1.20 as of fiscal year 2025, which is considered adequate.
What is Box Inc's debt-to-equity ratio?
Box Inc (BOX) had a debt-to-equity ratio of -1.60 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Box Inc's return on assets (ROA)?
Box Inc (BOX) had a return on assets of 14.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Box Inc's debt-to-equity ratio negative or unusual?
Box Inc (BOX) has negative shareholder equity of -$280.1M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Box Inc's Altman Z-Score?
Box Inc (BOX) has an Altman Z-Score of 1.18, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Box Inc's Piotroski F-Score?
Box Inc (BOX) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Box Inc's earnings high quality?
Box Inc (BOX) has an earnings quality ratio of 1.36x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Box Inc cover its interest payments?
Box Inc (BOX) has an interest coverage ratio of 13.1x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Box Inc?
Box Inc (BOX) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.