Box Inc Financials
This page shows Box Inc (BOX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).
Recurring software economics turn modest growth into very high cash generation, even while reported earnings move around more than the business core.
Between FY2025 and FY2026, net income fell by more than half, but free cash flow still rose to$350.4M . With free-cash-flow margin still near29.8% and gross margin holding around79.0% , the earnings swing looks driven more by tax and financing lines than by a weakening operating engine.
The balance sheet is less conservative than the cash balance alone suggests. Cash of
This remains a high-gross-margin model, but not one currently showing much operating leverage. Revenue kept rising into FY2026 and gross margin stayed near
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Box Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Box Inc has an operating margin of 7.1%, 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 down from 7.3% the prior year.
Box Inc's revenue grew 8.0% year-over-year to $1.2B, a solid pace of expansion. This earns a growth score of 44/100.
Box Inc has a moderate D/E ratio of -1.51. This balance of debt and equity financing earns a leverage score of 42/100.
Box Inc's current ratio of 1.11 is below the typical benchmark, resulting in a score of 17/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Box Inc converts 29.8% of revenue into free cash flow ($350.4M). This strong cash generation earns a score of 100/100.
Box Inc scores 1.35, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($3.4B) relative to total liabilities ($1.8B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Box Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Box Inc generates $3.09 in operating cash flow ($356.4M OCF vs $115.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Box Inc earns $7.8 in operating income for every $1 of interest expense ($83.2M vs $10.7M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Box Inc generated $1.2B in revenue in fiscal year 2026. This represents an increase of 8.0% from the prior year.
Box Inc's EBITDA was $116.1M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 14.1% from the prior year.
Box Inc reported $115.4M in net income in fiscal year 2026. This represents a decrease of 52.8% from the prior year.
Box Inc earned $0.58 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 57.4% from the prior year.
Cash & Balance Sheet
Box Inc generated $350.4M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 6.3% from the prior year.
Box Inc held $375.1M in cash against $451.0M in long-term debt as of fiscal year 2026.
Box Inc had 138M shares outstanding in fiscal year 2026. This represents a decrease of 4.4% from the prior year.
Margins & Returns
Box Inc's gross margin was 79.2% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 0.1 percentage points from the prior year.
Box Inc's operating margin was 7.1% in fiscal year 2026, reflecting core business profitability. This is down 0.2 percentage points from the prior year.
Box Inc's net profit margin was 9.8% in fiscal year 2026, showing the share of revenue converted to profit. This is down 12.6 percentage points from the prior year.
Capital Allocation
Box Inc invested $294.5M in research and development in fiscal year 2026. This represents an increase of 11.2% from the prior year.
Box Inc spent $289.8M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 37.3% from the prior year.
Box Inc invested $6.1M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 136.1% from the prior year.
BOX Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $305.9M+1.6% | $301.1M+2.4% | $294.0M+6.4% | $276.3M-1.2% | $279.5M+1.3% | $275.9M+2.2% | $270.0M+2.0% | $264.7M |
| Cost of Revenue | $60.9M-1.1% | $61.6M+0.1% | $61.5M+1.4% | $60.7M+3.2% | $58.8M+5.8% | $55.6M+0.1% | $55.5M-4.7% | $58.3M |
| Gross Profit | $245.0M+2.3% | $239.5M+3.0% | $232.5M+7.8% | $215.6M-2.3% | $220.7M+0.2% | $220.4M+2.7% | $214.5M+3.9% | $206.4M |
| R&D Expenses | $76.6M+3.6% | $73.9M+3.1% | $71.7M-0.8% | $72.3M+5.0% | $68.9M+1.5% | $67.9M+3.7% | $65.4M+4.4% | $62.7M |
| SG&A Expenses | $37.6M+0.3% | $37.5M-1.4% | $38.0M+0.3% | $37.9M+2.1% | $37.1M+10.1% | $33.7M+0.3% | $33.6M+1.6% | $33.1M |
| Operating Income | $31.2M+24.5% | $25.1M+21.8% | $20.6M+224.7% | $6.3M-64.7% | $17.9M-23.4% | $23.4M+15.4% | $20.3M+12.6% | $18.0M |
| Interest Expense | $2.6M-1.6% | $2.7M+0.1% | $2.7M-0.6% | $2.7M-5.9% | $2.9M+77.9% | $1.6M+102.3% | $796K-1.1% | $805K |
| Income Tax | -$47.2M-408.0% | $15.3M+49.0% | $10.3M+108.0% | $5.0M+102.9% | -$173.0M-4032.4% | $4.4M-1.9% | $4.5M-3.4% | $4.6M |
| Net Income | $81.7M+577.0% | $12.1M-10.3% | $13.4M+64.1% | $8.2M-95.8% | $194.0M+1404.8% | $12.9M-37.1% | $20.5M+19.0% | $17.2M |
| EPS (Diluted) | N/A | $0.050.0% | $0.05+150.0% | $0.02 | N/A | $0.05-50.0% | $0.10+25.0% | $0.08 |
BOX Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.5B-3.9% | $1.6B-0.9% | $1.6B-1.0% | $1.6B-1.6% | $1.7B+23.1% | $1.4B+20.8% | $1.1B-4.7% | $1.2B |
| Current Assets | $891.3M-13.0% | $1.0B-1.8% | $1.0B-1.3% | $1.1B-3.8% | $1.1B+14.0% | $962.6M+31.2% | $733.7M-7.0% | $788.7M |
| Cash & Equivalents | $375.1M-40.8% | $633.2M-3.7% | $657.8M-4.6% | $689.6M+10.4% | $624.6M+2.6% | $608.8M+49.7% | $406.6M-9.5% | $449.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $325.1M+58.7% | $204.9M+8.1% | $189.6M+6.4% | $178.1M-39.2% | $292.7M+55.3% | $188.5M+6.2% | $177.5M+24.1% | $143.1M |
| Goodwill | $82.3M+1.2% | $81.3M+0.6% | $80.8M+0.3% | $80.5M+4.6% | $77.0M-2.2% | $78.7M+2.6% | $76.8M+0.5% | $76.4M |
| Total Liabilities | $1.8B-2.7% | $1.9B+0.1% | $1.9B-1.4% | $1.9B-2.2% | $2.0B+7.1% | $1.8B+17.6% | $1.6B-0.9% | $1.6B |
| Current Liabilities | $802.7M-5.9% | $853.0M0.0% | $853.2M-2.7% | $876.8M-4.9% | $922.1M+57.1% | $587.1M0.0% | $586.9M-0.8% | $591.4M |
| Long-Term Debt | $451.0M+0.1% | $450.4M+0.1% | $449.8M+0.1% | $449.2M+0.1% | $448.6M-31.2% | $651.7M+75.3% | $371.8M+0.1% | $371.3M |
| Total Equity | -$299.3M-4.4% | -$286.6M-6.4% | -$269.4M+3.8% | -$280.1M+5.7% | -$297.0M+38.1% | -$479.9M-9.2% | -$439.4M-10.4% | -$397.9M |
| Retained Earnings | -$846.8M+8.8% | -$928.4M+1.3% | -$940.5M+1.4% | -$953.9M+0.9% | -$962.1M+16.8% | -$1.2B+1.1% | -$1.2B+1.7% | -$1.2B |
BOX Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $110.4M+51.1% | $73.0M+58.9% | $46.0M-63.8% | $127.1M+24.4% | $102.2M+63.3% | $62.6M+72.4% | $36.3M-72.3% | $131.2M |
| Capital Expenditures | $1.9M+10.9% | $1.7M-16.3% | $2.1M+493.1% | $349K-44.4% | $628K+131.7% | $271K-31.9% | $398K-68.8% | $1.3M |
| Free Cash Flow | $108.5M+52.1% | $71.3M+62.5% | $43.9M-65.4% | $126.7M+24.8% | $101.5M+63.0% | $62.3M+73.6% | $35.9M-72.4% | $129.9M |
| Investing Cash Flow | -$16.5M-125.5% | -$7.3M+14.1% | -$8.5M+18.1% | -$10.4M+40.3% | -$17.4M+19.0% | -$21.5M-155.3% | $38.8M+267.5% | -$23.2M |
| Financing Cash Flow | -$352.6M-292.5% | -$89.8M-37.6% | -$65.3M-5.7% | -$61.8M+8.3% | -$67.4M-141.6% | $162.1M+233.5% | -$121.4M-240.1% | -$35.7M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $123.4M+60.6% | $76.9M+92.5% | $39.9M-19.6% | $49.7M+17.1% | $42.4M+41.5% | $30.0M-71.9% | $106.6M+231.6% | $32.1M |
BOX Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 80.1%+0.6pp | 79.5%+0.5pp | 79.1%+1.0pp | 78.0%-0.9pp | 79.0%-0.9pp | 79.9%+0.4pp | 79.4%+1.4pp | 78.0% |
| Operating Margin | 10.2%+1.9pp | 8.3%+1.3pp | 7.0%+4.7pp | 2.3%-4.1pp | 6.4%-2.1pp | 8.5%+1.0pp | 7.5%+0.7pp | 6.8% |
| Net Margin | 26.7%+22.7pp | 4.0%-0.6pp | 4.6%+1.6pp | 3.0%-66.4pp | 69.4%+64.7pp | 4.7%-2.9pp | 7.6%+1.1pp | 6.5% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 5.3%+4.5pp | 0.8%-0.1pp | 0.8%+0.3pp | 0.5%-11.1pp | 11.6%+10.7pp | 0.9%-0.9pp | 1.8%+0.4pp | 1.5% |
| Current Ratio | 1.11-0.1 | 1.20-0.0 | 1.22+0.0 | 1.20+0.0 | 1.19-0.4 | 1.64+0.4 | 1.25-0.1 | 1.33 |
| Debt-to-Equity | -1.51+0.1 | -1.57+0.1 | -1.67-0.1 | -1.60-0.1 | -1.51-0.2 | -1.36-0.5 | -0.85+0.1 | -0.93 |
| FCF Margin | 35.5%+11.8pp | 23.7%+8.8pp | 14.9%-30.9pp | 45.9%+9.5pp | 36.3%+13.8pp | 22.6%+9.3pp | 13.3%-35.8pp | 49.1% |
Note: Shareholder equity is negative (-$299.3M), 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 $1.2B in total revenue for fiscal year 2026. This represents a 8.0% 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 8% year-over-year, from $1.1B to $1.2B in fiscal year 2026.
Is Box Inc profitable?
Yes, Box Inc (BOX) reported a net income of $115.4M in fiscal year 2026, with a net profit margin of 9.8%.
What is Box Inc's EBITDA?
Box Inc (BOX) had EBITDA of $116.1M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Box Inc have?
As of fiscal year 2026, Box Inc (BOX) had $375.1M in cash and equivalents against $451.0M in long-term debt.
What is Box Inc's gross margin?
Box Inc (BOX) had a gross margin of 79.2% in fiscal year 2026, 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 7.1% in fiscal year 2026, 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 9.8% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Box Inc's free cash flow?
Box Inc (BOX) generated $350.4M in free cash flow during fiscal year 2026. This represents a 6.3% 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 $356.4M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Box Inc's total assets?
Box Inc (BOX) had $1.5B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Box Inc's capital expenditures?
Box Inc (BOX) invested $6.1M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Box Inc spend on research and development?
Box Inc (BOX) invested $294.5M in research and development during fiscal year 2026.
What is Box Inc's current ratio?
Box Inc (BOX) had a current ratio of 1.11 as of fiscal year 2026, which is considered adequate.
What is Box Inc's debt-to-equity ratio?
Box Inc (BOX) had a debt-to-equity ratio of -1.51 as of fiscal year 2026, 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 7.5% for fiscal year 2026, 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 -$299.3M as of fiscal year 2026, 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 1.35, 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 6 out of 9, indicating neutral 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 to 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 3.09x, 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 7.8x, 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 40 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.