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BOX BOX

UnknownUnknownN/A📅 Scored March 24, 2026
Price at analysis: $23.66
Crucible Score
70.8
B
Quality × Value Composite
KQI — Quality
69.2
B
Fundamental Quality Index
KVI — Value
72.8
B
Valuation Attractiveness Index
Crucible Verdict — BOX

Box delivers solid fundamentals with a strong competitive moat (84) and consistent earnings execution (79% beat rate), though diversification remains notably weak at 34. BOX trades at a 21% discount to fair value despite decent growth prospects and Aaron Levie's long tenure, creating an attractive entry point for investors willing to accept the company's concentrated risk profile.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality
65.6
Growth Profile⚠
72.0
Moat Durability
83.7
Management Effectiveness⚠
66.9
Diversification & Resilience
34.0
Market Position
58.0
Weakest dimension: Diversification & Resilience (34.0)

◆ KVI Value Dimensions

DCF Margin of Safety
74.1
FCF Yield & Cash Returns
87.6
Relative Valuation
67.9
Growth-Adjusted Value
60.2
Historical Valuation
67.8
Macro Context
63.7

◆ DCF Valuation Scenarios

Bear Case
$20.12
Base Case
$28.74
Bull Case
$39.85
Price at Analysis
$23.66
ScenarioFair ValueRev CAGR (5yr)Terminal MarginWACC
🔴 Bear$20.125.0%12.0%8.5%
🟢 Base$28.747.0%15.0%8.1%
🟢 Bull$39.859.0%18.0%7.8%
Key Assumptions: BOX has shown steady revenue growth of ~7-8% with improving FCF margins (~30% of revenue) but modest GAAP operating margins (7% most recently). Tax rate normalized to 15% reflecting software company effective rates as profitability matures; capex is minimal at ~0.5% of revenue given asset-light SaaS model. WACC derived from CAPM with 4.39% risk-free rate, 0.74 beta, and 5.5% ERP, adjusted modestly across scenarios; net debt of ~$649M subtracted from enterprise value to arrive at equity value.

◆ Financial Snapshot

Profitability

Gross Margin79.2%
Operating Margin7.1%
Net Margin8.6%
ROIC10.6%
ROE-210.9%

Balance Sheet

Balance SheetCR: 1.05
Cash ConversionFCF/EPS: 3.45x
Capital IntensityCapex/Rev: 0.5%
Altman Z-Score1.40 (Distress)
Piotroski F-Score6/9 (Good)

Growth

Revenue CAGR7.7% CAGR
Earnings CAGR62.7% CAGR
Growth ConsistencyCV: 0.52
Segment BreadthNo data
Quarterly TrendMargin↑, WC↓, Exp↓
Earnings CredibilityConsistent Beater

◆ Analyst Consensus & Leadership

Leadership & Governance

CEOAaron Levie · 21 years
CEO Ownership3.9%
Insider ActivitySelling
Capital AllocationROIC 10.6% vs WACC 0.8%
Earnings Beat Rate79% (17/22)

◆ Related Companies in Our Universe

Other Unknown companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+
MethodologyAll ScoresCrucible BriefsPerformance@KaladinCI

Analysis conducted March 24, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.

© 2026 Kaladin Capital Intelligence — Conviction Through Scrutiny