Box (BOX) AI Stock Analysis

• Market Cap: $4.49B
• Dividend Yield: N/A
• Average Volume (3M): 1.53M
• Price to Earnings (P/E): 24.5
• Beta (1Y): 0.57
• Revenue Growth: 4.88%
• EPS Growth: 80.94%
• Country: US
• Employees: 2,810
• Sector: Technology
• Sector Strength: 94
• Industry: Software - Infrastructure
• EPS (TTM): 0.30
• Shares Outstanding: 144,811,980
• 10 Day Avg. Volume: 1,684,867
• 30 Day Avg. Volume: 1,530,510
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.14
• Enterprise Value/Revenue: 4.63
• Enterprise Value/Gross Profit: 5.85
• Enterprise Value/Ebitda: 44.98
• 1Y Price Target: $38.22
• Price Target Upside: 20.99% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 11

• Rating: 76 Outperform
• Price Target: $37.00 ▲(17.13% Upside)

Box demonstrates solid financial performance and strategic growth initiatives, particularly in AI and enterprise solutions. However, high leverage and macroeconomic uncertainties pose risks. The technical outlook is mixed, with the stock trading below its 50-day moving average, suggesting cautious optimism.

Positive Factors

AI Innovations

Box is expected to introduce a multitude of new AI innovations and announce AI-related collaborations at BoxWorks, heralded as featuring the biggest and most exciting announcements ever on this platform.

Financial Performance

Box reported strong 1Q26 results and raised the FY26 revenue and billings outlook.

Revenue Growth

Billings growth of 27% beat expectations and was helped by early renewals.

Negative Factors

Competitive Environment

A discount to the low-growth software group is warranted given BOX's intensifying competitive environment.

Market Challenges

Competition is fierce, software in transition, and the macro environment treacherous.

Box Business Overview & Revenue Model

Company Description

Box, Inc. (BOX) is a cloud content management and file sharing service for businesses. Founded in 2005, the company provides a platform that allows organizations to store, manage, and collaborate on files securely in the cloud. Box serves a wide range of sectors, including healthcare, financial services, and education, offering solutions designed to enhance productivity and streamline workflows. Its core products include Box Platform, Box Governance, and Box Shield, which are aimed at improving collaboration and security for enterprise customers.

How the Company Makes Money

Box generates revenue primarily through a subscription-based model, offering various pricing tiers that cater to businesses of different sizes and needs. Key revenue streams include monthly and annual subscription fees for its cloud content management services, which vary based on the level of features and storage capacity. The company also offers add-on services such as Box Governance and Box Shield for enhanced compliance and security, providing additional revenue opportunities. Significant partnerships with technology companies, including integrations with Microsoft, Google, and Salesforce, further contribute to Box's earnings by expanding its market reach and enhancing the value of its offerings.

Box Financial Statement Overview

Summary

Box has shown strong financial health with consistent revenue and profit growth, supported by effective cash flow management. Despite high leverage with a debt-to-equity ratio of 3.38, the significant improvement in equity position and robust free cash flow generation indicate a positive trajectory.

Income Statement

Box has demonstrated a strong upward trend in its financial performance, with significant improvements in revenue and profitability metrics. The company achieved a TTM gross profit margin of 79% and a net profit margin of 21.4%, indicating efficient cost management and scalability. Revenue growth has been consistent, with a notable increase from $874 million in 2022 to $1,102 million TTM in 2025. EBIT and EBITDA margins are healthy at 6.2% and 10.3% respectively, showing robust operational efficiency. However, the EBIT margin is slightly below industry leaders, suggesting potential for further improvement.

Balance Sheet

Box's balance sheet reflects a mixed picture with strong equity growth but high leverage. The debt-to-equity ratio is elevated due to substantial debt levels, with a TTM value of 3.38, posing a potential risk in volatile markets. However, the company has improved its equity position significantly from -$395 million in 2022 to $215 million in 2025, enhancing financial stability. The equity ratio stands at 13.1%, which is below optimal levels, indicating a reliance on debt financing. Despite these challenges, the overall trend towards positive equity is encouraging.

Cash Flow

Box has shown impressive cash flow management, with strong free cash flow generation and growth. The TTM free cash flow stands at $303 million, reflecting a solid 37.3% year-over-year increase, driven by effective cost control and operational efficiency. The operating cash flow to net income ratio is robust at 1.39, indicating healthy cash conversion. Additionally, the free cash flow to net income ratio of 1.29 underscores the company's ability to generate cash profits, which supports future growth and debt servicing.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.09B	1.04B	990.87M	874.33M	770.77M
Gross Profit	862.02M	777.13M	738.32M	624.85M	546.03M
EBITDA	113.34M	101.99M	102.83M	50.61M	37.84M
Net Income	244.62M	129.03M	26.78M	-41.46M	-43.43M
Balance Sheet
Total Assets	1.67B	1.24B	1.21B	1.39B	1.35B
Cash, Cash Equivalents and Short-Term Investments	722.82M	480.69M	461.25M	586.27M	595.08M
Total Debt	721.32M	491.80M	535.10M	621.50M	648.15M
Total Liabilities	1.47B	1.18B	1.24B	1.79B	1.20B
Stockholders Equity	197.28M	61.03M	-33.86M	-395.09M	151.06M
Cash Flow
Free Cash Flow	329.68M	300.32M	281.49M	224.33M	180.34M
Operating Cash Flow	332.26M	318.73M	297.98M	234.82M	196.83M
Investing Cash Flow	-23.21M	-82.79M	120.60M	-239.37M	-16.38M
Financing Cash Flow	-62.36M	-272.90M	-396.50M	-172.86M	218.68M

Box Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 31.59
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BOX, the sentiment is Negative. The current price of 31.59 is below the 20-day moving average (MA) of 32.12, below the 50-day MA of 33.46, and below the 200-day MA of 32.67, indicating a bearish trend. The MACD of -0.53 indicates Positive momentum. The RSI at 43.00 is Neutral, neither overbought nor oversold. The STOCH value of 43.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BOX.

Box Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BOX	76 Outperform	$4.49B	24.50	152.34%	―	4.88%	80.94%
QLYS	75 Outperform	$4.66B	25.73	39.53%	―	9.69%	9.50%
VRNS	72 Outperform	$6.38B	―	-25.73%	―	14.29%	-14.42%
S	64 Neutral	$5.51B	―	-26.98%	―	28.19%	-31.34%
Sector *	61 Neutral	$36.30B	7.26	-7.27%	1.97%	7.74%	-7.92%
TENB	60 Neutral	$3.52B	―	-12.60%	―	11.41%	33.76%

Box Corporate Events

Box Approves Key Proposals at Annual Meeting

On June 27, 2025, Box, Inc. held its annual meeting of stockholders, where several key proposals were approved. Notably, amendments to the 2015 Equity Incentive Plan and the Employee Stock Purchase Plan were approved, increasing the number of shares reserved for issuance by 5,000,000 and 6,000,000 shares, respectively. The meeting also saw the election of two Class II directors, approval of executive compensation, an amendment to the company’s certificate of incorporation, and the ratification of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2026. These approvals are expected to impact Box’s operational flexibility and governance structure positively.

The most recent analyst rating on (BOX) stock is a Hold with a $30.00 price target. To see the full list of analyst forecasts on Box stock, see the BOX Stock Forecast page.