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Box
(NYSE:BOX)
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Rating:75Outperform
Price Target:
$38.00
▲(13.81% Upside)
Action:Reiterated
Date:08/27/26
BOX scores well primarily on improving operating performance and very strong free-cash-flow generation, supported by a constructive price trend and a positive earnings update (raised revenue outlook, stronger retention and RPO). The main constraint on the score is valuation (high P/E) and the balance-sheet history of volatility despite recent improvement.
Positive Factors
Strong Cash Generation
Large, recurring cash generation gives Box internal funding for product development, integrations and capital returns while reducing dependence on external financing. Strong conversion of earnings into free cash flow also supports resilience as the company invests in AI and enterprise growth.
Negative Factors
Historically Volatile Balance Sheet
Historical periods of negative equity and sharp leverage swings indicate a less consistent balance-sheet cushion than the latest snapshot suggests. Although current debt is modest, recurring volatility can constrain flexibility and make resilience less predictable through investment or operating shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Cash Generation
Large, recurring cash generation gives Box internal funding for product development, integrations and capital returns while reducing dependence on external financing. Strong conversion of earnings into free cash flow also supports resilience as the company invests in AI and enterprise growth.
Read all positive factors
Box Key Performance Indicators (KPIs)
Any
Total Remaining Performance Obligations
Represents future revenue from contracts yet to be fulfilled, providing insight into revenue visibility and the strength of customer commitments.
Represents future revenue from contracts yet to be fulfilled, providing insight into revenue visibility and the strength of customer commitments.
Data provided by:
The Fly
The FlyBox (BOX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.91B
Dividend YieldN/A
Average Volume (3M)3.11M
Price to Earnings (P/E)49.7
Beta (1Y)0.61
Revenue Growth9.63%
EPS Growth-45.56%
CountryUS
Employees2,912
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.71
Shares Outstanding137,200,780
10 Day Avg. Volume3,611,561
30 Day Avg. Volume3,112,462
Financial Highlights & Ratios
PEG Ratio-0.74
Price to Book (P/B)-12.12
Price to Sales (P/S)3.08
P/FCF Ratio10.35
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$38.50Price Target Upside15.30% Upside
Rating ConsensusHold
Number of Analyst Covering8
EPS Forecast (FY)1.58
Revenue Forecast (FY)$1.28B
Box Business Overview & Revenue Model
Company Description
Box, Inc. delivers a robust cloud-based platform designed for comprehensive content management. This Software-as-a-Service (SaaS) solution empowers organizations of all scales to effortlessly manage, distribute, and access their digital assets acr...
How the Company Makes Money
Box primarily makes money through subscription-based software-as-a-service (SaaS) contracts, generally sold to businesses and other organizations on a recurring term basis (e.g., annual subscriptions). Revenue is largely driven by seat-based and/o...
Box Earnings Call Summary
Earnings Call Date:Aug 25, 2026
(Q2-2027)
| % Change Since: |
Next Earnings Date:Dec 08, 2026
Earnings Call Sentiment Positive
The call was broadly positive: Box reported revenue, billings, RPO and net retention improvements, beat guidance on top- and bottom-line results, raised full-year revenue guidance, generated strong cash flow, and highlighted accelerating Enterprise Advanced and AI adoption with meaningful product and partnership momentum. Headwinds include FX impacts, cloud capacity-driven margin pressure, early-stage AI consumption monetization, and quarter-to-quarter billings lumpiness, but management outlined clear product, go-to-market and governance investments to address these risks.Positive Updates
Revenue Growth Above Guidance
Q2 revenue of $321M, up 9% year-over-year (11% in constant currency), exceeded guidance and marked the fifth consecutive quarter of accelerating revenue growth in constant currency.
Negative Updates
Foreign Exchange Headwinds
FX negatively impacted margins and EPS: Q2 operating margin included a ~100bp FX headwind; Q2 EPS included a ~$0.04 FX headwind. Management expects FY '27 FX headwind of ~150bps on billings/revenue and ~80bps on operating margin, and Q3 EPS FX headwind of ~$0.02.
Read all updates
Q2-2027 Updates
Positive
Negative
Revenue Growth Above Guidance
Q2 revenue of $321M, up 9% year-over-year (11% in constant currency), exceeded guidance and marked the fifth consecutive quarter of accelerating revenue growth in constant currency.
Read all positive updates
Company Guidance
Box guided Q3 revenue of about $329 million (≈9% y/y, 11% in constant currency) with Q3 billings growth roughly in line at ~9% (FX tailwind ~70 bps), Q3 gross margin ~80.5%, Q3 operating margin ~28% (includes ~80 bps FX headwind), Q3 EPS ~$0.39 (including ~$0.02 FX headwind) and weighted average diluted shares of ~142 million; for FY27 they raised revenue to ~ $1.29 billion (≈10% y/y, 11% cc, a $10M increase), expect FY billings growth roughly in line with revenue (FX headwind ~150 bps), FY gross margin ~80.5% (Q4 ~80%), FY operating margin ~28% (FX headwind ~80 bps), FY EPS ~$1.54 (including ~$0.09 FX headwind) with ~141 million diluted shares expected (down from 149M last year); management also noted second-half expenses are more Q4-weighted (BoxWorks and lease) and expects to exit FY27 with a net retention rate of 106% and continues to monitor RPO ($1.7B, +15% y/y, +17% cc; ~55% to be recognized in the next 12 months).Box Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
52
Neutral
Cash Flow
86
Very Positive
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.23B | 1.18B | 1.09B | 1.04B | 990.87M | 874.33M |
| Gross Profit | 981.70M | 932.61M | 862.02M | 777.13M | 738.32M | 624.85M |
| EBITDA | 163.08M | 140.67M | 113.34M | 113.83M | 105.27M | 53.62M |
| Net Income | 116.62M | 101.31M | 244.62M | 129.03M | 26.78M | -41.46M |
Balance Sheet | ||||||
| Total Assets | 1.40B | 1.55B | 1.67B | 1.24B | 1.21B | 1.39B |
| Cash, Cash Equivalents and Short-Term Investments | 444.14M | 478.06M | 722.82M | 480.69M | 461.25M | 586.27M |
| Total Debt | 73.15M | 1.02B | 746.73M | 491.80M | 535.10M | 621.50M |
| Total Liabilities | 1.26B | 1.85B | 1.47B | 1.18B | 1.24B | 1.79B |
| Stockholders Equity | 146.28M | -299.28M | 197.28M | 61.03M | -33.86M | -395.09M |
Cash Flow | ||||||
| Free Cash Flow | 379.58M | 350.38M | 329.68M | 316.88M | 293.55M | 230.12M |
| Operating Cash Flow | 394.46M | 356.45M | 332.26M | 318.73M | 297.98M | 234.82M |
| Investing Cash Flow | -43.98M | -42.70M | -23.21M | -82.79M | 120.60M | -239.37M |
| Financing Cash Flow | -658.89M | -569.52M | -62.36M | -272.90M | -396.50M | -172.86M |
Box Technical Analysis
Positive
33.39
Price Trends
30.77
Positive
27.90
Positive
27.34
Positive
Market Momentum
1.17
Negative
65.65
Neutral
75.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BOX, the sentiment is Positive. The current price of 33.39 is above the 20-day moving average (MA) of 33.32, above the 50-day MA of 30.77, and above the 200-day MA of 27.34, indicating a bullish trend. The MACD of 1.17 indicates Negative momentum. The RSI at 65.65 is Neutral, neither overbought nor oversold. The STOCH value of 75.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BOX.
Box Risk Analysis
Box disclosed 56 risk factors in its most recent earnings report. Box reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Box Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $9.67B | 30.08 | 17.29% | ― | 15.24% | ― | |
75 Outperform | $4.91B | 49.68 | 217.31% | ― | 9.63% | -45.56% | |
70 Outperform | $7.65B | 18.82 | -23.53% | ― | -0.05% | 9.77% | |
69 Neutral | $7.69B | -20.43 | -23.16% | ― | 21.09% | 23.48% | |
67 Neutral | $5.03B | -34.71 | -26.91% | ― | 15.86% | -33.39% | |
63 Neutral | $6.50B | 18.55 | 28.22% | ― | 7.46% | 27.03% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
BOX
Box
34.59
2.23
6.89%
WEX
WEX
192.84
25.67
15.36%
VRNS
Varonis Systems
46.76
-8.67
-15.64%
DBX
Dropbox
34.50
5.53
19.09%
PATH
UiPath
17.99
7.11
65.35%
S
SentinelOne
19.68
1.66
9.21%
Box Corporate Events
Executive/Board ChangesShareholder Meetings
Box shareholders approve equity plan and board directors
Positive
Jul 1, 2026
On June 25, 2026, Box, Inc. held its annual meeting of stockholders, where investors approved an amendment to the company’s Amended and Restated 2015 Equity Incentive Plan to add 7,200,000 shares of Class A common stock reserved for issuance...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.