What is Box's net debt?

Box (BOX) reported net debt of $184.85M in Q1 2026.

How has Box's net debt changed year-over-year?

Box's net debt increased by 199.6% year-over-year, from $61.7M to $184.85M.

What is the long-term trend for Box's net debt?

Over 5 years (2020 to 2025), Box's net debt has grown at a 11.9% compound annual growth rate (CAGR), from $102.96M to $181.01M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Box BOX Net debt

Discontinued — last reported Q1 '26

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2.8×+1.1×

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1.5×+0.1×

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0.6×-0.3×

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1.6×-0.6×

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7.1×—

APA

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0×-0.1×

Other financials

Income statement

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Revenue$305.9M+10.7%

Gross profit$243.2M+12.8%

Operating income$27.4M+333%

Net income$17.7M+116%

EPS (diluted)$0.08+300%

Balance sheet

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Cash & equivalents$378.8M-45.1%

Total debt$563.7M-25.0%

Total equity-$338.4M-20.8%

Total assets$1.4B-13.4%

Cash flow

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Operating cash flow$140.2M+10.3%

CapEx$1.3M+309%

Free cash flow$138.9M+9.6%

Valuation

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Market cap$3.46B-24.3%

Profitability

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Gross margin79.6%+0.5pp

Operating margin8.6%+2.5pp

Net margin10.3%-11.0pp

FCF margin30%+0.4pp

Returns & leverage

See full

Return on equity-39.2%—

Debt / equity5.9×—

Current ratio1.1×-0.1×

Where this comes from

Calculated from Box’s reported figures.

$563.7Mtotal debt−$378.8Mcash and equivalents=$184.85M

The official record: Box’s 10-Q, filed May 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Box's net debt?: Box (BOX) reported net debt of $184.85M in Q1 2026.
How has Box's net debt changed year-over-year?: Box's net debt increased by 199.6% year-over-year, from $61.7M to $184.85M.
What is the long-term trend for Box's net debt?: Over 5 years (2020 to 2025), Box's net debt has grown at a 11.9% compound annual growth rate (CAGR), from $102.96M to $181.01M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.