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Software - Application · Technology · Fiscal year ends Jan 31
Box reported revenue of $1.2B in the fiscal year ended Jan 2026, up 8.0% from the year before. Operating income was $83M, an operating margin of 7.1%, and net income was $115M. Operating cash flow of $356M less capital expenditure of $6M left free cash flow of $350M. Net debt was $76M.
Ranks among the 83 software - application companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | 874 | 991 | 1,038 | 1,090 | 1,177 |
| Cost of revenue | 249 | 253 | 261 | 228 | 245 |
| Gross profit | 625 | 738 | 777 | 862 | 933 |
| Research & development | 219 | 244 | 249 | 265 | 295 |
| Selling, general & admin | 434 | 458 | 478 | 518 | 555 |
| Operating income | −27.6 | 36.8 | 50.8 | 79.6 | 83.2 |
| Interest expense | – | 4.9 | 3.8 | 6.1 | 10.7 |
| Pre-tax income | −37.5 | 34.4 | 62.6 | 85.2 | 98.7 |
| Income tax | 4.0 | 7.6 | −66.4 | −159 | −16.7 |
| Net income | −41.5 | 26.8 | 129 | 245 | 115 |
| Diluted EPS | −0.35 | 0.06 | 0.67 | 1.36 | 0.58 |
| Diluted shares | 156 | 150 | 149 | 149 | 149 |
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 416 | 428 | 384 | 625 | 375 |
| Receivables | 256 | 265 | 281 | 293 | 325 |
| Current assets | 917 | 807 | 842 | 1,098 | 891 |
| Net PP&E | 106 | 70.0 | 31.4 | 25.0 | 23.8 |
| Goodwill | 74.5 | 73.9 | 76.8 | 77.0 | 82.3 |
| Total assets | 1,392 | 1,207 | 1,241 | 1,668 | 1,546 |
| Deferred revenue | 519 | 544 | 563 | 588 | 648 |
| Current liabilities | 719 | 716 | 679 | 922 | 803 |
| Short-term debt | – | – | 0.0 | 204 | 0.0 |
| Long-term debt | 367 | 369 | 371 | 449 | 451 |
| Total liabilities | 1,299 | 1,241 | 1,180 | 1,470 | 1,349 |
| Shareholders' equity | −395 | −524 | −431 | −297 | −299 |
| Backlog (remaining obligations) | 1,100 | 1,200 | 1,300 | 1,500 | 1,710 |
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 235 | 298 | 319 | 332 | 356 |
| Capital expenditure | – | 5.0 | 4.7 | 2.6 | 6.1 |
| Free cash flow | – | 293 | 314 | 330 | 350 |
| Depreciation & amortisation | 78.2 | 66.0 | 51.2 | 22.1 | 32.9 |
| Stock-based compensation | 179 | 186 | 199 | 219 | 234 |
| Acquisitions | 59.4 | – | 2.7 | – | – |
| Share buybacks | 562 | 274 | 177 | 211 | 290 |
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 13.3% | 4.7% | 5.0% | 8.0% |
| Operating income growth (YoY) | – | – | 37.8% | 56.9% | 4.5% |
| EPS growth (YoY) | – | – | 1016.7% | 103.0% | −57.4% |
| Gross margin | 71.5% | 74.5% | 74.9% | 79.1% | 79.2% |
| Operating margin | −3.2% | 3.7% | 4.9% | 7.3% | 7.1% |
| Net margin | −4.7% | 2.7% | 12.4% | 22.4% | 9.8% |
| ROCEEBIT ÷ (assets − current liabilities) | −4.1% | 7.5% | 9.0% | 10.7% | 11.2% |
| Free cash flow margin | – | 29.6% | 30.3% | 30.2% | 29.8% |
| Cash conversion (CFO ÷ net income) | −5.66x | 11.1x | 2.47x | 1.36x | 3.09x |
| Receivable days | 107 | 97 | 99 | 98 | 101 |
| Interest cover | – | 7.56x | 13.2x | 13.1x | 7.78x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −48.8 | −59.1 | −12.9 | 28.0 | 75.9 |
| Current ratio | 1.27x | 1.13x | 1.24x | 1.19x | 1.11x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.