1. Financial Health Check
- Revenue: $1.09B
- Net Income: $244.62M
- Net Margin: 22.44%
- Revenue Growth (3yr CAGR): N/A (Need historical data)
- ROE (Return on Equity): N/A (Missing Equity)
- ROIC (Return on Invested Capital): [ROIC (Return on Invested Capital)]
- Debt/Equity: N/A (Missing Liabilities)
- Free Cash Flow Yield: [Free Cash Flow Yield]
- Free Cash Flow Trend: [Free Cash Flow Trend]
2. Financial Trends
3. Historical Data
| Year | Revenue | Net Income | Gross Profit | Op. Cash Flow |
|---|---|---|---|---|
| 2025 | 1.09B | 244.62M | 862.02M | 332.26M |
| 2024 | 1.04B | 129.03M | 777.13M | 318.73M |
| 2023 | 990.87M | 26.78M | 738.32M | 297.98M |
| 2022 | 874.33M | -41.46M | 624.85M | 234.82M |
| 2021 | 770.77M | -43.43M | 546.03M | 196.83M |
4. Competitive Advantage (Moat)
- Type of Moat: Switching Costs, Network Effect
- Strength: Narrow
- Description: The stickiness of Box's high-value solutions results in a best-in-class churn rate. Continued customer commitment is demonstrated through longer contract terms, and larger deals are increasingly tied to the broader ecosystem.
5. Management Quality
- CEO: Aaron Levie
- Capital Allocation: The company plans to continue share repurchases. They also plan to reinvest in their platform, specifically in AI, workflow capabilities, and a partner ecosystem.
- Tone: Optimistic
- Key Quotes:
- "We are clearly entering one of the biggest shifts in business that we've ever seen. Driven by AI."
- "Our strong financial model provides us with the opportunity to execute on our robust product roadmap. And invest in strategic go-to-market initiatives. Leading to accelerating our revenue growth the long term."
6. Growth Prospects
- Total Addressable Market (TAM): [Size and Growth Rate]
- Market Share: [Current share and potential to gain]
- New Products/Services: [Pipeline]
7. Scuttlebutt & Soft Data
- Customer Reviews: [Trends in customer satisfaction]
- Employee Feedback: [Glassdoor ratings, turnover]
- Channel Checks: [Insights from suppliers or distributors]
8. Valuation
- P/E Ratio: [Current vs. Historical vs. Peers]
- EV/EBITDA: [Current vs. Historical vs. Peers]
- DCF Fair Value: [Estimate]
9. Risks
- [Risk 1: Macroeconomic uncertainty impacting customer purchasing decisions.]
- [Risk 2: Potential impact from dynamics in the US Federal sector.]
- [Risk 3: Headwinds from non-cash deferred tax expenses impacting non-GAAP EPS.] ```
10. Checklist
- Do I understand the business model?
- Is the balance sheet healthy?
- Is management aligned with shareholders?
- Is the valuation reasonable?
- Is there a clear catalyst?