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Box (BOX)

Market Price (3/9/2026): $25.66 | Market Cap: $3.7 Bil
Sector: Information Technology | Industry: Application Software

Box (BOX)

Market Price (3/9/2026): $25.66
Market Cap: $3.7 Bil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1%, FCF Yield is 8.3%		 Weak multi-year price returns
2Y Excs Rtn is -35%, 3Y Excs Rtn is -94%		 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 20%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%		  Key risks
BOX key risks include [1] the erosion of its premium positioning by giant competitors with potentially superior products, Show more.
2 Low stock price volatility
Vol 12M is 33%		  
3 Megatrend and thematic drivers
Megatrends include Cloud Computing, and Cybersecurity. Themes include Software as a Service (SaaS), and Cloud Security. 		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1%, FCF Yield is 8.3%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%
2 Low stock price volatility
Vol 12M is 33%
3 Megatrend and thematic drivers
Megatrends include Cloud Computing, and Cybersecurity. Themes include Software as a Service (SaaS), and Cloud Security.
4 Weak multi-year price returns
2Y Excs Rtn is -35%, 3Y Excs Rtn is -94%
5 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 20%
6 Key risks
BOX key risks include [1] the erosion of its premium positioning by giant competitors with potentially superior products, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Box (BOX) stock has lost about 15% since 11/30/2025 because of the following key factors:

1. Persistent Market Skepticism Regarding Long-Term Growth and Competitive Pressures.

Despite reporting strong Q4 FY26 results, including a 9% year-over-year revenue increase to $306 million and non-GAAP EPS of $0.49, which surpassed analyst estimates of $0.33, Box's stock saw only a modest increase of 1.44% following the announcement. This muted reaction highlights a pervasive market skepticism concerning the company's ability to achieve accelerated, sustainable growth, especially given that the stock has been "languishing near $23" as of March 3, 2026, significantly below the average analyst price target of $38.00. A major contributing factor to this skepticism is the competitive threat from tech giants like Microsoft and Google, who are perceived to be eroding Box's market share by integrating similar content management functionalities into their broader enterprise offerings.

2. Negative Reaction to Q3 FY26 Earnings Despite Revenue Beat.

Box experienced a negative market reaction following its Q3 FY26 earnings report on December 2, 2025, with shares falling even though revenue of $301 million exceeded guidance and grew 9% year-over-year. The decline was likely driven by a significant year-over-year decrease in non-GAAP diluted earnings per share, which dropped from $0.45 to $0.31. This reduction was partly attributed to unfavorable foreign exchange rates and the recognition of non-cash deferred tax expenses.

Show more

Stock Movement Drivers

Fundamental Drivers

The -13.2% change in BOX stock from 11/30/2025 to 3/8/2026 was primarily driven by a -13.2% change in the company's P/E Multiple.
(LTM values as of)113020253082026Change
Stock Price ($)29.5425.65-13.2%
Change Contribution By: 
Total Revenues ($ Mil)1,1261,1512.2%
Net Income Margin (%)20.3%19.8%-2.5%
P/E Multiple18.716.3-13.2%
Shares Outstanding (Mil)1451440.4%
Cumulative Contribution-13.2%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/8/2026
ReturnCorrelation
BOX-13.2% 
Market (SPY)-1.6%30.4%
Sector (XLK)-4.1%33.0%

Fundamental Drivers

The -21.4% change in BOX stock from 8/31/2025 to 3/8/2026 was primarily driven by a -21.4% change in the company's P/E Multiple.
(LTM values as of)83120253082026Change
Stock Price ($)32.6325.65-21.4%
Change Contribution By: 
Total Revenues ($ Mil)1,1261,1512.2%
Net Income Margin (%)20.3%19.8%-2.5%
P/E Multiple20.716.3-21.4%
Shares Outstanding (Mil)1451440.4%
Cumulative Contribution-21.4%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/8/2026
ReturnCorrelation
BOX-21.4% 
Market (SPY)4.5%28.4%
Sector (XLK)4.8%27.4%

Fundamental Drivers

The -21.6% change in BOX stock from 2/28/2025 to 3/8/2026 was primarily driven by a -48.1% change in the company's P/E Multiple.
(LTM values as of)22820253082026Change
Stock Price ($)32.7025.65-21.6%
Change Contribution By: 
Total Revenues ($ Mil)1,0731,1517.2%
Net Income Margin (%)14.0%19.8%41.7%
P/E Multiple31.316.3-48.1%
Shares Outstanding (Mil)143144-0.6%
Cumulative Contribution-21.6%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/8/2026
ReturnCorrelation
BOX-21.6% 
Market (SPY)14.2%32.4%
Sector (XLK)22.3%32.2%

Fundamental Drivers

The -23.1% change in BOX stock from 2/28/2023 to 3/8/2026 was primarily driven by a -99.3% change in the company's P/E Multiple.
(LTM values as of)22820233082026Change
Stock Price ($)33.3525.65-23.1%
Change Contribution By: 
Total Revenues ($ Mil)9681,15118.9%
Net Income Margin (%)0.2%19.8%9826.3%
P/E Multiple2,461.716.3-99.3%
Shares Outstanding (Mil)142144-1.4%
Cumulative Contribution-23.1%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/8/2026
ReturnCorrelation
BOX-23.1% 
Market (SPY)76.0%30.6%
Sector (XLK)105.2%26.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BOX Return45%19%-18%23%-5%-13%45%
Peers Return26%-30%43%6%20%-11%42%
S&P 500 Return27%-19%24%23%16%-0%82%

Monthly Win Rates [3]
BOX Win Rate58%42%58%58%42%33% 
Peers Win Rate65%37%63%62%58%33% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
BOX Max Drawdown-4%-14%-24%-5%-10%-27% 
Peers Max Drawdown-4%-37%-5%-16%-15%-18% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-1% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: MSFT, GOOGL, DBX, OTEX, VEEV. See BOX Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/6/2026 (YTD)

How Low Can It Go

Unique KeyEventBOXS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-31.5%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven46.1%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven397 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-47.3%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven89.9%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven56 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-55.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven122.6%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven958 days120 days

Compare to MSFT, GOOGL, DBX, OTEX, VEEV

In The Past

Box's stock fell -31.5% during the 2022 Inflation Shock from a high on 2/2/2023. A -31.5% loss requires a 46.1% gain to breakeven.

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About Box (BOX)

Box, Inc. provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features to comply with legal and regulatory requirements, internal policies, and industry standards and regulations. It offers web, mobile, and desktop applications for cloud content management on a platform for developing custom applications, as well as industry-specific capabilities. As of January 31, 2022, the company had approximately 100,000 paying organizations, and its solution was offered in 25 languages. It serves financial services, health care, government, and legal services industries in the United States and internationally. The company was formerly known as Box.net, Inc. and changed its name to Box, Inc. in November 2011. Box, Inc. was incorporated in 2005 and is headquartered in San Francisco Bay Area, California.

AI Analysis | Feedback

Here are 1-3 brief analogies for Box:

  • Dropbox for enterprises.
  • An enterprise-grade Google Drive.
  • Salesforce for document and content management.

AI Analysis | Feedback

  • Box Content Cloud (Service: Cloud Content Management & Collaboration): Provides secure cloud storage, file sharing, and robust tools for team collaboration.
  • Box Sign (Service: E-Signature): Enables secure electronic signature capabilities integrated directly into the Box platform.
  • Box Shield (Service: Security & Compliance): Offers advanced security features, including threat detection, data loss prevention, and compliance controls for content.
  • Box Relay (Service: Workflow Automation): Automates content-centric business processes and workflows across the organization.
  • Box Platform (Service: Developer Platform & Integration): Provides APIs and SDKs for developers to integrate Box functionalities into custom applications and systems.

AI Analysis | Feedback

Box (symbol: BOX) sells primarily to other companies (businesses and organizations) rather than individuals. It provides cloud content management and file sharing services to enterprises across various industries. While Box serves thousands of enterprise customers, and its revenue is generally diversified without a high concentration from any single client, several prominent companies have been identified as customers through Box's own case studies, press releases, and industry reports. Below are examples of such customer companies:
  • Pfizer Inc. (NYSE: PFE)
  • Morgan Stanley (NYSE: MS)
  • The Estée Lauder Companies Inc. (NYSE: EL)
  • Toyota Motor Corporation (NYSE: TM)

AI Analysis | Feedback

Box (BOX) leverages major public cloud providers for its infrastructure. Its primary suppliers include:

AI Analysis | Feedback

Aaron Levie, Chief Executive Officer, Co-founder

Aaron Levie co-founded Box, an enterprise cloud company, in 2005 with Dylan Smith and has served as its CEO since its inception. The idea for Box originated as a college business project, and Levie took a leave of absence from the University of Southern California, where he studied Business, Marketing, and Entrepreneurship, to focus on developing the company. Initially, Box aimed at consumers but shifted its focus to business clients in 2007, becoming a leading content cloud provider for Fortune 500 companies. Mark Cuban was an early investor, providing $300,000 in seed funding.

Dylan Smith, Chief Financial Officer, Co-founder & Director

Dylan Smith co-founded Box with Aaron Levie in 2005 and has been its Chief Financial Officer since April 2005. He leads investor relations and all aspects of Box's financial operations, having been instrumental in the company's growth and in building its business and finance infrastructure. Smith invested $20,000 of his online poker winnings as initial seed capital for the company. He holds a B.A. in Economics from Duke University, where he took a year off to focus on Box before returning to complete his degree while continuing in his CFO role.

Olivia Nottebohm, Chief Operating Officer

Olivia Nottebohm is the Chief Operating Officer at Box, overseeing the company's day-to-day operations and strategic initiatives. She is responsible for driving operational efficiency and ensuring that Box's goals align with its long-term vision. Her professional background includes leadership roles at Google and Dropbox, and she has experience from McKinsey & Company.

Tricia Gellman, Chief Marketing Officer

Tricia Gellman serves as the Chief Marketing Officer at Box. Prior to joining Box, she held significant marketing leadership positions. She was the Chief Marketing Officer at Drift, a conversational marketing platform. Before that, she spent several years at Salesforce in various marketing roles, including Vice President of Marketing for Salesforce Analytics Cloud and Vice President of Marketing for Salesforce Sales Cloud.

Jon Herstein, Chief Customer Officer

Jon Herstein is the Chief Customer Officer at Box. In this role, he focuses on customer satisfaction and guiding the client services for the company. Herstein previously held leadership positions at other technology companies, including serving as Senior Vice President of Customer Success at DocuSign.

AI Analysis | Feedback

The public company Box (symbol: BOX) faces several key risks to its business, primarily stemming from intense market competition, the inherent challenges of data security, and the need for continuous technological innovation.

  1. Intense Competition: Box operates in a highly competitive cloud content management and file-sharing industry. Its primary competitors include major technology companies such as Microsoft (with OneDrive), Google (with Google Drive), and Dropbox, as well as other players like Adobe and Amazon. This competitive landscape can lead to aggressive pricing strategies and may erode Box's premium positioning, potentially challenging its growth outlook and margin expansion. Some analyses suggest that Box's offerings might, in certain respects, be considered inferior to those of its competitors.
  2. Security Risks and Data Breaches: As a cloud platform handling sensitive corporate data, Box is susceptible to security breaches, malware attacks, and data leaks. While Box has invested significantly in robust security features, including encryption, access controls, and automated malware detection, and has an established Enterprise Risk and Resiliency program, the potential for vulnerabilities remains. Historically, misconfigurations by users have led to the exposure of sensitive corporate data, highlighting the ongoing risk associated with data protection. A significant security incident could severely damage Box's reputation and customer trust.
  3. Rapid Technological Advancements and the Need for Continuous Innovation: The cloud content management industry is rapidly evolving, driven by advancements in artificial intelligence (AI) and the increasing demand for secure collaboration solutions. Box must continuously adapt its services and integrate new technologies to meet evolving customer expectations and maintain its competitive edge. While Box is actively investing in AI-powered intelligent content management and acquisitions to enhance its offerings, failure to innovate effectively or keep pace with technological shifts could impact its growth and market relevance.

AI Analysis | Feedback

The deepest and most clearly emerging threat to Box is the accelerating integration of artificial intelligence (AI) directly into dominant enterprise productivity and collaboration suites, primarily Microsoft 365 (with Copilot) and Google Workspace (with Gemini AI).

While Microsoft and Google have long been competitors, the introduction of advanced generative AI capabilities within their ecosystems represents a significant escalation. These AI tools are designed to deeply enhance content creation, summarization, search, and workflow automation directly within their platforms, operating on the vast amounts of enterprise data already stored within OneDrive, SharePoint, Google Drive, and other integrated services. For instance, Microsoft's Copilot can draft documents, summarize meetings, and analyze content across an organization's Microsoft 365 environment, directly competing with Box's value proposition around intelligent content management and workflow.

This trend could increasingly marginalize the need for a separate, specialized cloud content management layer like Box, as enterprises find more comprehensive and deeply embedded AI-powered solutions within their existing, often already-paid-for, productivity suites. The tight integration of AI into these broader platforms, combined with the vast R&D budgets and market penetration of Microsoft and Google, makes it challenging for Box to maintain its unique position as the central content layer for active workflows and content intelligence.

AI Analysis | Feedback

Box, Inc. (symbol: BOX) operates primarily as a cloud content management platform, offering solutions for secure content management, collaboration, and workflow automation. The company's main products and services fall under categories such as Enterprise Content Management (ECM) and Cloud Collaboration, contributing to the broader Digital Workplace market.

Addressable Markets for Box's Main Products and Services:

  • Enterprise Content Management (ECM) / Cloud Content Management (CCM):

    The global enterprise content management market was valued at approximately USD 42.93 billion in 2024. This market is projected to grow significantly, with some estimates suggesting it could reach USD 150.97 billion by 2032. Another report indicates the global cloud content management system (CMS) market is estimated to reach approximately USD 25 billion by 2025. The global cloud-based content management software market was valued at US$17.77 billion in 2024 and is estimated to grow to US$34.22 billion by 2030. North America held the largest market share in the global ECM market in 2024.

  • Cloud Collaboration:

    The global cloud collaboration market size reached approximately USD 52.0 billion in 2024 and is expected to grow to USD 116.8 billion by 2033. Other estimates for the global cloud collaboration market in 2024 range from USD 48.50 billion to USD 48.90 billion. This market is projected to reach USD 124.08 billion by 2033 or USD 116.38 billion by 2030. North America accounted for the largest revenue share in the global cloud collaboration market in 2024.

  • Digital Workplace Solutions:

    The global digital workplace market was valued at approximately USD 48.7 billion in 2024 and is projected to climb to US$341.5 billion by the end of 2034. Other reports indicate the global digital workplace market size was valued between USD 38.64 billion and USD 40.81 billion in 2024 and is projected to reach between USD 181.27 billion by 2032 and USD 293.99 billion by 2032. North America dominated the digital workplace market in 2024.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Box (BOX) over the next 2-3 years:
  1. Increased Adoption of Box AI and Intelligent Content Management (ICM) Platform: Box anticipates significant revenue growth from the continued development and adoption of its AI-powered features and Intelligent Content Management platform. The launch and momentum of offerings like Box AI, Box Hubs, Enterprise Plus, and Enterprise Advanced are crucial, as they enable customers to leverage AI for enhanced workflows, decision-making, and productivity, driving higher-value use cases.
  2. Expansion of Suites Offerings: The company's strategy of bundling its advanced capabilities into "Suites" (such as Enterprise Plus and Enterprise Advanced) is a key growth driver. These comprehensive offerings are leading to a higher percentage of total revenue coming from Suites customers and are enabling Box to capture larger deals and address more sophisticated enterprise needs. Analysts also see substantial opportunity for further adoption of Enterprise Plus.
  3. Growth in Customer Base and Upselling/Cross-selling to Existing Customers: Box continues to grow its base of large customers, with an increasing number paying over $100,000 annually. The company also emphasizes customer stickiness, evidenced by stable churn rates and early contract renewals, indicating successful upselling and cross-selling of additional products and services within its existing client base.
  4. Strategic Pricing Improvements: New product offerings, particularly the Enterprise Advanced plan, are expected to contribute to revenue growth through price increases. Management has indicated a potential for a 20-40% pricing uplift with the adoption of Enterprise Advanced.
  5. Expansion of Partner Ecosystem: Investments in developing and expanding a partner-led sales motion, especially with global and regional systems integrators, are beginning to yield positive results by driving larger deals. This broadened ecosystem helps Box reach new markets and integrate its solutions more deeply into enterprise environments.

AI Analysis | Feedback

Share Repurchases

  • Box significantly repurchased shares over the past two years (as of April 2023), spending approximately $330 million in the prior year.
  • On August 28, 2023, Box increased its equity buyback authority by $100 million, bringing the total authorization to $860 million, with the plan extended until August 28, 2024.
  • Share repurchases were noted as becoming smaller over time (as of October 2023) due to a less robust balance sheet.

Share Issuance

  • Sales of common shares by insiders in October 2025 included shares acquired through Restricted Stock Lapse as equity compensation.
  • Box announced the pricing of $400 million in convertible senior notes due 2029 in September 2024, which are convertible into cash, shares of Box's Class A common stock, or a combination thereof.
  • Despite share repurchases, Box's shares outstanding were projected to grow to 153 million for the year ahead, as of April 2023.

Inbound Investments

  • As of December 31, 2024, institutional investors held a significant portion of Box's shares, with major firms like BlackRock and Vanguard being among the top holders.

Outbound Investments

  • Box's 10-K filings mention future acquisitions of or investments in complementary companies, products, services, or technologies as part of its strategy.
  • Acquisitions have been a source for key product features, with some acquisitions closing in Q1 FY2022 (around February 2021).

Capital Expenditures

  • Box's capital expenditures for fiscal years ending January 2021 to 2025 averaged $5.213 million.
  • Capital expenditures peaked at $9.052 million in January 2021 and reached a 5-year low of $2.573 million in January 2025.
  • Capital expenditures primarily relate to acquiring, improving, or maintaining physical assets such as equipment, facilities, buildings, property, or technology.

Better Bets vs. Box (BOX)

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Trade Ideas

Select ideas related to BOX.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
BMI_2282026_Insider_Buying_45D_2Buy_200K02282026BMIBadger MeterInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days		0.0%0.0%0.0%
VRNS_2282026_Insider_Buying_45D_2Buy_200K02282026VRNSVaronis SystemsInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days		0.0%0.0%0.0%
ITRI_2272026_Dip_Buyer_FCFYield02272026ITRIItronDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		0.0%0.0%0.0%
FSLR_2272026_Dip_Buyer_ValueBuy02272026FSLRFirst SolarDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		0.0%0.0%0.0%
PEGA_2272026_Dip_Buyer_ValueBuy02272026PEGAPegasystemsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		0.0%0.0%0.0%

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Peer Comparisons

Peers to compare with:

Financials

BOXMSFTGOOGLDBXOTEXVEEVMedian
NameBox MicrosoftAlphabet Dropbox Open TextVeeva Sy. 
Mkt Price25.65408.96298.5226.7925.56195.49111.14
Mkt Cap3.73,039.03,604.36.76.432.119.4
Rev LTM1,151305,453402,8372,5215,1803,0804,130
Op Inc LTM70142,559129,0396881,076859968
FCF LTM30877,41273,2669308781,3781,154
FCF 3Y Avg30071,62971,8428547581,124989
CFO LTM348160,506164,7139521,0271,3781,202
CFO 3Y Avg330129,579130,5868779061,1241,015

Growth & Margins

BOXMSFTGOOGLDBXOTEXVEEVMedian
NameBox MicrosoftAlphabet Dropbox Open TextVeeva Sy. 
Rev Chg LTM7.2%16.7%15.1%-1.1%-4.3%16.0%11.2%
Rev Chg 3Y Avg6.0%14.4%12.5%2.8%17.3%14.1%13.3%
Rev Chg Q9.1%16.7%18.0%-1.1%-0.6%16.0%12.6%
QoQ Delta Rev Chg LTM2.2%4.0%4.5%-0.3%-0.1%3.8%3.0%
Op Mgn LTM6.1%46.7%32.0%27.3%20.8%27.9%27.6%
Op Mgn 3Y Avg6.2%45.3%30.5%20.6%18.5%23.2%21.9%
QoQ Delta Op Mgn LTM0.0%0.4%-0.2%2.9%0.0%1.0%0.2%
CFO/Rev LTM30.3%52.5%40.9%37.8%19.8%44.7%39.3%
CFO/Rev 3Y Avg30.4%48.5%36.6%34.7%16.8%41.8%35.7%
FCF/Rev LTM26.8%25.3%18.2%36.9%17.0%44.7%26.1%
FCF/Rev 3Y Avg27.7%27.2%20.5%33.8%14.0%41.8%27.5%

Valuation

BOXMSFTGOOGLDBXOTEXVEEVMedian
NameBox MicrosoftAlphabet Dropbox Open TextVeeva Sy. 
Mkt Cap3.73,039.03,604.36.76.432.119.4
P/S3.29.98.92.71.210.46.1
P/EBIT38.520.422.69.67.337.321.5
P/E16.325.527.313.214.837.320.9
P/CFO10.618.921.97.06.323.314.8
Total Yield6.1%4.8%3.9%7.6%11.0%2.7%5.5%
Dividend Yield0.0%0.8%0.3%0.0%4.2%0.0%0.1%
FCF Yield 3Y Avg7.2%2.3%3.0%10.2%8.7%3.3%5.3%
D/E0.20.00.00.51.00.00.1
Net D/E-0.0-0.0-0.00.40.8-0.2-0.0

Returns

BOXMSFTGOOGLDBXOTEXVEEVMedian
NameBox MicrosoftAlphabet Dropbox Open TextVeeva Sy. 
1M Rtn4.0%2.2%-7.5%7.2%3.1%6.4%3.5%
3M Rtn-18.9%-15.2%-7.0%-8.7%-22.9%-19.2%-17.0%
6M Rtn-21.7%-17.0%27.2%-10.3%-21.6%-28.4%-19.3%
12M Rtn-20.5%4.8%72.4%1.4%0.7%-20.8%1.0%
3Y Rtn-1.5%65.9%225.8%36.6%-20.2%15.4%26.0%
1M Excs Rtn5.8%1.0%-8.3%8.8%12.0%4.6%5.2%
3M Excs Rtn-18.7%-12.6%-4.9%-8.9%-20.6%-17.4%-15.0%
6M Excs Rtn-25.3%-22.8%25.0%-12.6%-25.2%-31.3%-24.0%
12M Excs Rtn-36.2%-12.6%57.9%-13.6%-12.4%-26.5%-13.1%
3Y Excs Rtn-94.2%-0.6%162.3%-40.2%-87.7%-52.9%-46.6%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment1,038991874771696
Total1,038991874771696


Price Behavior

Price Behavior
Market Price$25.65 
Market Cap ($ Bil)3.7 
First Trading Date10/28/2010 
Distance from 52W High-33.5% 
   50 Days200 Days
DMA Price$26.07$30.94
DMA Trenddowndown
Distance from DMA-1.6%-17.1%
 3M1YR
Volatility40.0%33.5%
Downside Capture183.5392.89
Upside Capture71.9853.33
Correlation (SPY)29.0%33.5%
BOX Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta1.691.250.990.730.550.60
Up Beta0.941.751.190.770.650.65
Down Beta0.980.050.190.230.300.55
Up Capture152%54%55%34%28%17%
Bmk +ve Days9203170142431
Stock +ve Days9162653110358
Down Capture265%259%192%141%90%90%
Bmk -ve Days12213054109320
Stock -ve Days12253571139388

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with BOX
BOX-21.7%33.3%-0.70-
Sector ETF (XLK)24.6%27.2%0.7933.4%
Equity (SPY)16.4%19.2%0.6634.1%
Gold (GLD)77.1%26.1%2.17-3.7%
Commodities (DBC)19.6%17.1%0.891.7%
Real Estate (VNQ)3.1%16.6%0.0126.6%
Bitcoin (BTCUSD)-24.9%45.6%-0.4921.9%

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Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with BOX
BOX6.0%33.3%0.24-
Sector ETF (XLK)16.2%24.7%0.5940.2%
Equity (SPY)13.0%17.0%0.6042.8%
Gold (GLD)24.2%17.2%1.144.2%
Commodities (DBC)11.9%19.0%0.519.8%
Real Estate (VNQ)5.0%18.8%0.1734.1%
Bitcoin (BTCUSD)6.5%56.8%0.3421.4%

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Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with BOX
BOX7.9%38.7%0.32-
Sector ETF (XLK)22.2%24.2%0.8444.2%
Equity (SPY)15.0%17.9%0.7243.4%
Gold (GLD)15.1%15.6%0.801.0%
Commodities (DBC)9.0%17.6%0.4315.2%
Real Estate (VNQ)6.1%20.7%0.2629.7%
Bitcoin (BTCUSD)65.9%66.8%1.0514.5%

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Short Interest

Short Interest: As Of Date2132026
Short Interest: Shares Quantity12.0 Mil
Short Interest: % Change Since 13120267.8%
Average Daily Volume3.3 Mil
Days-to-Cover Short Interest3.6 days
Basic Shares Quantity144.4 Mil
Short % of Basic Shares8.3%

Returns Analyses

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/3/202610.2%  
12/2/20256.7%3.7%-5.4%
8/26/20254.2%3.9%3.7%
5/27/202517.2%22.0%8.6%
3/4/2025-3.2%-6.2%-6.0%
12/3/2024-7.7%-5.6%-8.5%
8/27/202410.8%14.1%12.4%
5/28/20248.6%11.6%4.8%
...
SUMMARY STATS   
# Positive151413
# Negative9910
Median Positive6.4%8.2%8.6%
Median Negative-7.7%-6.2%-9.0%
Max Positive17.2%22.0%22.5%
Max Negative-12.9%-19.5%-22.6%

SEC Filings

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Report DateFiling DateFiling
10/31/202512/03/202510-Q
07/31/202508/27/202510-Q
04/30/202505/29/202510-Q
01/31/202503/10/202510-K
10/31/202412/04/202410-Q
07/31/202408/30/202410-Q
04/30/202405/30/202410-Q
01/31/202403/11/202410-K
10/31/202312/06/202310-Q
07/31/202308/31/202310-Q
04/30/202305/31/202310-Q
01/31/202303/13/202310-K
10/31/202212/02/202210-Q
07/31/202208/31/202210-Q
04/30/202206/02/202210-Q
01/31/202203/16/202210-K

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Nottebohm, OliviaChief Operating OfficerDirectSell1229202529.844,612137,60414,155,481Form
2Berkovitch, EliVP Chief Acct Ofr & ControllerDirectSell1217202529.965,163154,6833,705,573Form
3Levie, AaronChief Executive OfficerDirectSell1212202530.5315,000457,89089,197,888Form
4Smith, Dylan CChief Financial OfficerDirectSell1212202530.9717,000526,42243,972,123Form
5Lazar, Jack R DirectSell1205202531.772,50079,420805,478Form

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