BOX INC BOX
Box is the leading Intelligent Content Management (ICM) provider. Box gives organizations a single platform for their unstructured data – which typically represents about 90% of all data within an organization. This data is content – from blueprints to wireframes, videos to documents, proprietary formats to PDFs – and it is the source of an organization's unique value. The Box ICM platform enables our customers to securely manage the entire content lifecycle, from the moment a file is created or ingested to when it is shared, edited, published, approved, signed, classified, and retained. Box keeps content secure and compliant, while also allowing easy access and sharing of this content from anywhere, on any device – both within the organization and with external partners.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.18B | $1.09B | $1.04B | $990.9M | $874.3M | $770.8M | $696.3M | $608.4M | $506.1M | $398.6M |
| Cost of revenue | $244.6M | $228.1M | $260.6M | $252.6M | $249.5M | $224.7M | $215.6M | $173.6M | $135.2M | $112.1M |
| Gross profit | $932.6M | $862.0M | $777.1M | $738.3M | $624.8M | $546.0M | $480.7M | $434.8M | $370.9M | $286.5M |
| R&D | $294.5M | $264.9M | $248.8M | $243.5M | $218.5M | $201.3M | $199.8M | $163.8M | $136.8M | $115.9M |
| SG&A | $150.9M | $137.4M | $129.0M | $126.5M | $135.3M | $106.7M | $102.8M | $93.1M | $84.8M | $68.2M |
| Total operating expenses | $849.4M | $782.4M | $726.4M | $701.5M | $652.5M | $583.7M | $620.2M | $569.0M | $524.9M | $437.1M |
| Operating income | $83.2M | $79.6M | $50.8M | $36.8M | -$27.6M | -$37.6M | -$139.5M | -$134.2M | -$154.0M | -$150.7M |
| Interest expense | $10.7M | $6.1M | $3.8M | $4.9M | — | — | — | — | — | — |
| Pre-tax income | $98.7M | $85.2M | $62.6M | $34.4M | -$37.5M | -$42.2M | -$142.9M | -$133.2M | -$154.2M | -$150.9M |
| Income tax | $16.7M | $159.5M | $66.4M | $7.6M | $4.0M | $1.2M | $1.4M | $1.4M | $715.0K | $914.0K |
| Net income | $115.4M | $244.6M | $129.0M | $26.8M | -$41.5M | -$43.4M | -$144.3M | -$134.6M | -$155.0M | -$151.8M |
| EPS, basic | 0.60 | 1.40 | 0.69 | 0.06 | -0.35 | -0.28 | — | — | — | — |
| EPS, diluted | 0.58 | 1.36 | 0.67 | 0.06 | -0.35 | -0.28 | -0.98 | -0.95 | -1.16 | -1.19 |
| Shares, diluted (wtd. avg.) | $149.2M | $148.6M | $148.6M | $150.2M | $155.6M | $155.8K | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $375.1M | $624.6M | $383.7M | $428.5M | $416.3M | $595.1M | $195.6M | $217.5M | $208.1M | $177.4M |
| Short-term investments | $102.9M | $98.2M | $96.9M | $32.8M | $170.0M | — | — | $0 | $0 | — |
| Receivables | $325.1M | $292.7M | $281.5M | $264.5M | $256.3M | $228.3M | $209.4M | $175.1M | $162.1M | $120.1M |
| Total current assets | $891.3M | $1.10B | $842.2M | $806.8M | $916.6M | $879.3M | $457.7M | $428.6M | $399.2M | $322.1M |
| Property, plant and equipment | $23.8M | $25.0M | $31.4M | $70.0M | $105.8M | $160.1M | $191.0M | $137.7M | $124.0M | $117.2M |
| Goodwill | $82.3M | $77.0M | $76.8M | $73.9M | $74.5M | $18.7M | $18.7M | $18.7M | $16.3M | $16.3M |
| Other intangibles | $94.3M | $74.5M | $46.8M | $39.2M | $17.7M | $0 | — | — | $24.0K | $543.0K |
| Total assets | $1.55B | $1.67B | $1.24B | $1.21B | $1.39B | $1.35B | $960.0M | $650.2M | $553.6M | $493.7M |
| Accounts payable | — | — | — | — | — | $4.5M | $16.8M | $15.4M | $17.0M | $6.7M |
| Short-term debt | $0 | $203.9M | $0 | — | — | — | — | — | — | — |
| Total current liabilities | $802.7M | $922.1M | $679.3M | $715.8M | $719.0M | $612.8M | $577.4M | $463.2M | $394.0M | $297.9M |
| Long-term debt | $451.0M | $448.6M | $370.8M | $369.4M | $367.5M | $297.6M | $40.0M | $40.0M | $40.0M | $40.0M |
| Total liabilities | $1.35B | $1.47B | $1.18B | $1.24B | $1.30B | $1.20B | $937.6M | $618.8M | $538.6M | $418.9M |
| Retained earnings | -$846.8M | -$962.1M | -$1.21B | -$1.34B | -$1.36B | -$1.32B | -$1.28B | -$1.13B | -$1.04B | -$884.1M |
| Total equity | -$299.3M | -$297.0M | -$431.1M | -$523.9M | -$395.1M | $151.1M | $22.4M | $31.4M | $15.0M | $74.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $356.4M | $332.3M | $318.7M | $298.0M | $234.8M | $196.8M | $44.7M | $55.3M | $35.4M | -$2.4M |
| Depreciation and amortisation | $8.3M | $8.2M | $37.0M | $51.2M | $63.9M | $68.1M | $58.2M | $46.3M | $39.5M | $36.8M |
| Stock-based compensation | $233.7M | $219.0M | $198.8M | $185.6M | $179.0M | $154.3M | $146.0M | $119.3M | $97.5M | $78.4M |
| Capital expenditure | $6.1M | $2.6M | $4.7M | $5.0M | — | — | $5.5M | $14.8M | $11.8M | $15.0M |
| Investing cash flow | -$42.7M | -$23.2M | -$82.8M | $120.6M | -$239.4M | -$16.4M | -$13.3M | -$16.2M | -$11.7M | -$7.6M |
| Financing cash flow | -$569.5M | -$62.4M | -$272.9M | -$396.5M | -$172.9M | $218.7M | -$53.4M | -$29.6M | -$19.8M | $479.0K |
| Buybacks | $289.8M | $211.1M | $177.1M | $274.2M | $561.6M | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-021041.
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| SHOP | SHOPIFY INC. | $187.92B | 154.4x | 30.1% |
| NOW | ServiceNow, Inc. | $146.06B | 84.6x | 20.9% |
| SNOW | Snowflake Inc. | $118.96B | — | 29.2% |