Forensic Analysis · Technology / Software · as of Aug 11, 2026

Box Inc (BOX)

A forensic read on Box Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Grey Zone

Financial health

2.6

Distress distance

Clean

Earnings quality

Forensic signals

35.3

P / E (ttm)

$4.7B

Market cap

0.34%

Dividend yield

8.0%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Box Inc earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 2.6, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).

What the filings flag

+19.2%

FY2025→FY2026

Accruals ratio (% of NOA). Net operating assets grew +19.2% relative to their own average in FY2026 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by receivables up +11% against revenue +8%. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 97% of net operating assets, diverging from the balance-sheet accrual read.

-0.2%/yr

FY2023–FY2026

Share count. Diluted share count changed -1% over the last 3 years to FY2026 (-0.2%/yr). Roughly flat — buybacks ($290M) are about offsetting stock comp ($234M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.

Key fundamentals

Latest Revenue$1.18B

Revenue Growth YoY+8.0%

Revenue CAGR (3yr)+5.9%

Net Margin9.8%

Free Cash Flow$350.4M

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.