What is Box's operating margin?

Box (BOX) reported operating margin of 8.6% in Q1 2026.

How has Box's operating margin changed year-over-year?

Box's operating margin increased by 40.1% year-over-year, from 6.2% to 8.6%.

What is the long-term trend for Box's operating margin?

Over 5 years (2020 to 2025), Box's operating margin has grown at a 7.7% compound annual growth rate (CAGR), from -4.9% to 7.1%.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Box BOX Operating margin

Operating margin at other companies

MicrosoftMSFT

46.8%+1.6pp

Open TextOTEX

18.1%+0.8pp

DocuSignDOCU

10.6%+2.8pp

DropboxDBX

26.8%+6.1pp

Cloudflare, Inc.NET

-9.3%+0.7pp

Alphabet Inc.GOOGL

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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$3.44B-24.3%

Enterprise value$3.63B-21.2%

P/E27.6×+8.3×

P/S2.9×-1.3×

Profitability

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Gross margin79.6%+0.5pp

Net margin10.3%-11.0pp

FCF margin30%+0.4pp

Returns & leverage

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Return on equity-39.2%—

Debt / equity5.9×—

Current ratio1.1×-0.1×

Where this comes from

Calculated from Box’s reported figures.

operating income/total revenue=8.6%

Based on trailing twelve months.

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 operating margin?: Box (BOX) reported operating margin of 8.6% in Q1 2026.
How has Box's operating margin changed year-over-year?: Box's operating margin increased by 40.1% year-over-year, from 6.2% to 8.6%.
What is the long-term trend for Box's operating margin?: Over 5 years (2020 to 2025), Box's operating margin has grown at a 7.7% compound annual growth rate (CAGR), from -4.9% to 7.1%.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.