Box

BOX

Software - Application · Technology

Also trades as: 0HP1.L

Price

$32.49

-0.34 (-1.04%)

Market Cap

$4.50B

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 12, 2026 · filings through Apr 30, 2026

Share count falling — buybacks

−5.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 155.6M (2022) → 146.4M (2026)

Box, Inc. makes software that lets businesses store, share, and manage files in the cloud. Its main product is an online platform where employees can upload documents, collaborate on them, and control who has access — similar to a shared digital filing cabinet. Box focuses on large companies and government agencies, competing in the cloud content management industry against rivals like Microsoft and Google.

Box makes money by charging businesses a recurring subscription fee based on the number of users and the level of features they need. The company operates globally but earns most of its revenue in the United States, and it generates strong gross margins near 80%, which reflects the efficiency of selling software at scale. Its main competitive advantage is its focus on security and compliance features that highly regulated industries — like healthcare, finance, and government — require, but its biggest risk is pressure from larger tech companies that bundle similar file-sharing tools into products businesses already pay for.

Winston Score History

Politician Trades

3 trades / 12mo

0 Congressional buys and 3 sells on BOX in the last 12 months.

Unlock the full Smart Money Map — every trade plotted on the price chart with politicians, amounts and returns since each trade. Founder's Deal is $57/mo locked for life.

Unlock politician trades

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-59.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$295M/ year

↑ Rising (+11% vs prior year)

25.0% of revenue

1.7x the sector average (15%)

Investing heavily in future products and technology

Insider Activity

3.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$478M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Heavy R&D investment

Box is putting 25% of revenue into R&D and that number is rising. That's 1.7x the sector average. And they're generating enough cash to self-fund it.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

79.5%

Premium pricing power — 79.5% gross margin

Operating Margin

9.0%

Modest — 9.0% operating margin

ROCE

4.5%

Weak — 4.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+9.5%

Steady sales growth (+9.5% YoY)

EPS YoY

-49.8%

Earnings shrinking (-49.8% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

333%

Turns 333% of profit into real cash

FCF Margin

29.2%

Converts sales into free cash efficiently (29.2%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

2.85

Heavy debt load (2.85)

Interest Cover

10.03x

Comfortably covers interest (10.0x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

48.2x

Expensive — P/E 48.2

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+30.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (48.2 → 17.9)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial