Demonstrações financeiras detalhadas de Box, Inc. (BOX): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
Box, Inc. registou receitas de $1.18B no último exercício, com um CAGR de 5 anos de 8.8%.
Margens dos últimos 12 meses: margem bruta 79.5%, margem operacional 9.4%, margem líquida 9.4%. O fluxo de caixa livre cresceu a CAGR de 13.3% em 5 anos.
Ao preço atual de $34.66, BOX negocia a um P/L de 49.14 e um ROE de 217.31%. A capitalização de mercado é de $4.8B.
Demonstração de Resultados (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Receita | $398.6M | $506.1M | $608.4M | $696.3M | $770.8M | $874.3M | $990.9M | $1.04B | $1.09B | $1.18B |
| Custo da Receita | $112.1M | $135.2M | $173.6M | $215.6M | $224.7M | $249.5M | $252.6M | $260.6M | $228.1M | $244.6M |
| Lucro Bruto | $286.5M | $370.9M | $434.8M | $480.7M | $546.0M | $624.8M | $738.3M | $777.1M | $862.0M | $932.6M |
| P&D | $115.9M | $136.8M | $163.8M | $199.8M | $201.3M | $218.5M | $243.5M | $248.8M | $264.9M | $294.5M |
| Despesas Gerais e Administrativas | $321.2M | $388.1M | $405.3M | $420.4M | $382.4M | $434.0M | $457.9M | $477.6M | $517.5M | $554.9M |
| Despesas Operacionais | $437.1M | $524.9M | $569.0M | $620.2M | $583.7M | $652.5M | $701.5M | $726.4M | $782.4M | $849.4M |
| Lucro Operacional | -$150.7M | -$154.0M | -$134.2M | -$139.5M | -$37.6M | -$27.6M | $36.8M | $50.8M | $79.6M | $83.2M |
| EBITDA | -$109.8M | -$111.4M | -$86.6M | -$81.3M | $37.8M | $53.6M | $105.3M | $113.8M | $113.3M | $140.7M |
| Despesas com Juros | $896000 | $1.0M | $316000 | $2.3M | $7.0M | $9.8M | $4.9M | $3.8M | $6.1M | $10.7M |
| Lucro Antes de Impostos | -$150.9M | -$154.2M | -$133.2M | -$142.9M | -$42.2M | -$37.5M | $34.4M | $62.6M | $85.2M | $98.7M |
| Imposto | $914000 | $715000 | $1.4M | $1.4M | $1.2M | $4.0M | $7.6M | -$66.4M | -$159.5M | -$16.7M |
| Lucro Líquido | -$151.8M | -$155.0M | -$134.6M | -$144.3M | -$43.4M | -$41.5M | $26.8M | $129.0M | $244.6M | $101.3M |
| LPA | $-1.19 | $-1.16 | $-0.95 | $-0.98 | $-0.28 | $-0.27 | $0.19 | $0.69 | $1.40 | $0.60 |
| LPA Diluído | $-1.19 | $-1.16 | $-0.95 | $-0.98 | $-0.28 | $-0.27 | $0.18 | $0.67 | $1.36 | $0.59 |
| Ações em Circulação (Diluídas) | $127.5M | $133.9M | $141.4M | $147.8M | $155.8M | $155.6M | $150.2M | $148.6M | $148.6M | $146.4M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Receita | $301.1M | $305.9M | $305.9M | $321.1M |
| Lucro Bruto | $239.5M | $245.0M | $243.2M | $254.0M |
| Lucro Operacional | $25.1M | $31.2M | $27.4M | $32.6M |
| EBITDA | $39.1M | $50.6M | $39.2M | $34.3M |
| Lucro Líquido | $11.2M | $68.5M | $17.7M | $19.2M |
| LPA | $0.05 | $0.48 | $0.09 | $0.09 |
| LPA Diluído | $0.05 | $0.47 | $0.08 | $0.10 |
Balanço (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caixa e Equivalentes | $177.4M | $208.1M | $217.5M | $195.6M | $595.1M | $416.3M | $428.5M | $383.7M | $624.6M | $375.1M |
| Investimentos de Curto Prazo | 0 | 0 | 0 | 0 | 0 | $170.0M | $32.8M | $96.9M | $98.2M | $102.9M |
| Contas a Receber | $120.1M | $162.1M | $175.1M | $209.4M | $228.3M | $256.3M | $264.5M | $281.5M | $292.7M | $325.1M |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $322.1M | $399.2M | $428.6M | $457.7M | $879.3M | $916.6M | $806.8M | $842.2M | $1.10B | $845.2M |
| Imobilizado | $117.2M | $124.0M | $137.7M | $388.8M | $354.4M | $278.6M | $201.1M | $99.4M | $78.0M | $121.5M |
| Ágio | $16.3M | $16.3M | $18.7M | $18.7M | $18.7M | $74.5M | $73.9M | $76.8M | $77.0M | $82.3M |
| Ativos Intangíveis | $543000 | $24000 | $3.5M | $25.1M | $24.8M | $17.7M | $39.2M | $46.8M | $74.5M | $94.3M |
| Ativos Totais | $493.7M | $553.6M | $650.2M | $960.0M | $1.35B | $1.39B | $1.21B | $1.24B | $1.67B | $1.55B |
| Contas a Pagar | $6.7M | $17.0M | $15.4M | $16.8M | $4.5M | $58.9M | $79.8M | $79.5M | $54.7M | $97.0M |
| Dívida de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $203.9M | 0 |
| Passivos Circulantes | $297.9M | $394.0M | $463.2M | $577.4M | $612.8M | $719.0M | $715.8M | $679.3M | $922.1M | $802.7M |
| Dívida de Longo Prazo | $40.0M | $40.0M | $40.0M | $40.0M | $297.6M | $367.5M | $369.4M | $370.8M | $448.6M | $947.4M |
| Passivos Totais | $418.9M | $538.6M | $618.8M | $937.6M | $1.20B | $1.79B | $1.24B | $1.18B | $1.47B | $1.85B |
| Reservas | -$884.1M | -$1.04B | -$1.13B | -$1.28B | -$1.32B | -$1.36B | -$1.34B | -$1.21B | -$962.1M | -$846.8M |
| Patrimônio Líquido | $74.7M | $15.0M | $31.4M | $22.4M | $151.1M | -$395.1M | -$33.9M | $61.0M | $197.3M | -$299.3M |
| Dívida Total | $75.4M | $85.8M | $112.9M | $424.5M | $648.2M | $621.5M | $535.1M | $491.8M | $746.7M | $1.02B |
| Dívida Líquida | -$101.9M | -$122.3M | -$104.6M | $229.0M | $53.1M | $35.2M | $73.9M | $11.1M | $23.9M | $546.3M |
| Capital de Giro | $24.2M | $5.2M | -$34.6M | -$119.7M | $266.4M | $197.6M | $90.9M | $162.9M | $175.7M | $42.5M |
Balanço (Trimestral)
| Ano | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Caixa e Equivalentes | $634.8M | $375.1M | $378.8M | $342.9M |
| Ativos Totais | $1.61B | $1.55B | $1.42B | $1.40B |
| Passivos Totais | $1.40B | $1.85B | $1.26B | $1.26B |
| Patrimônio Líquido | $209.2M | -$299.3M | $158.5M | $146.3M |
| Dívida Total | $727.6M | $1.02B | $563.7M | $73.1M |
Fluxo de Caixa (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Lucro Líquido | -$151.8M | -$155.0M | -$134.6M | -$144.3M | -$43.4M | -$41.5M | $26.8M | $129.0M | $244.6M | $115.4M |
| Depreciação e Amortização | $40.2M | $40.1M | $46.3M | $59.4M | $75.5M | $78.2M | $66.0M | $51.2M | $22.1M | $32.9M |
| Compensação em Ações | $78.4M | $97.5M | $119.3M | $146.0M | $154.3M | $179.0M | $185.6M | $198.8M | $219.0M | $233.7M |
| Variação Capital de Giro | $12.5M | $31.4M | $8.4M | -$42.1M | -$26.6M | -$27.8M | -$37.9M | -$41.7M | -$42.8M | -$41.8M |
| Fluxo de Caixa Operacional | -$1.2M | $35.4M | $55.3M | $44.7M | $196.8M | $234.8M | $298.0M | $318.7M | $332.3M | $356.4M |
| CapEx | -$15.0M | -$11.8M | -$14.8M | -$5.5M | -$9.1M | -$4.7M | -$4.4M | -$1.8M | -$2.6M | -$6.1M |
| Aquisições | $87000 | $107000 | $2000 | $8000 | 0 | -$59.4M | 0 | -$2.7M | $8.4M | $309000 |
| Recompra de Ações | 0 | 0 | 0 | 0 | 0 | -$561.6M | -$274.2M | -$177.1M | -$211.1M | -$289.8M |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | -$9.6M | -$15.1M | -$14.9M | -$15.0M | -$15.0M |
| Fluxo de Caixa Livre | -$16.2M | $23.6M | $40.5M | $39.3M | $187.8M | $230.1M | $293.5M | $316.9M | $329.7M | $350.4M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Fluxo de Caixa Operacional | $73.0M | $110.4M | $140.2M | $70.8M |
| CapEx | -$1.7M | -$1.9M | -$11.1M | -$121000 |
| Fluxo de Caixa Livre | $71.3M | $108.5M | $129.1M | $70.7M |
| Dividendos Pagos | -$3.8M | -$3.8M | -$3.8M | -$3.8M |
| Compensação em Ações | $59.3M | $1900 | $56.3M | 0 |
Crescimento e Margens (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crescimento Receita (anual) | | +27.0% | +20.2% | +14.4% | +10.7% | +13.4% | +13.3% | +4.7% | +5.0% | +8.0% |
| Crescimento Lucro Líquido (anual) | | -2.1% | +13.1% | -7.2% | +69.9% | +4.5% | +164.6% | +381.8% | +89.6% | -58.6% |
| Crescimento LPA (anual) | | +2.5% | +18.1% | -3.2% | +71.4% | +3.6% | +170.4% | +263.2% | +102.9% | -57.1% |
| Variação de Ações (anual) | | +5.1% | +5.5% | +4.5% | +5.5% | -0.2% | -3.5% | -1.1% | +0.0% | -1.5% |
| Crescimento FCF (anual) | | +245.7% | +71.9% | -3.1% | +378.3% | +22.5% | +27.6% | +7.9% | +4.0% | +6.3% |
| Margem Bruta | 71.9% | 73.3% | 71.5% | 69.0% | 70.8% | 71.5% | 74.5% | 74.9% | 79.1% | 79.2% |
| Margem Operacional | -37.8% | -30.4% | -22.1% | -20.0% | -4.9% | -3.2% | 3.7% | 4.9% | 7.3% | 7.1% |
| Margem EBITDA | -27.6% | -22.0% | -14.2% | -11.7% | 4.9% | 6.1% | 10.6% | 11.0% | 10.4% | 11.9% |
| Margem Líquida | -38.1% | -30.6% | -22.1% | -20.7% | -5.6% | -4.7% | 2.7% | 12.4% | 22.4% | 8.6% |
| Margem FCF | -4.1% | 4.7% | 6.7% | 5.6% | 24.4% | 26.3% | 29.6% | 30.5% | 30.2% | 29.8% |
| Taxa Efetiva de Imposto | -0.6% | -0.5% | -1.0% | -1.0% | -2.9% | -10.7% | 22.2% | -106.2% | -187.2% | -16.9% |
Dados por Ação (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Ação | $-0.13 | $0.18 | $0.29 | $0.27 | $1.20 | $1.48 | $1.95 | $2.13 | $2.22 | $2.39 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.06 | $0.10 | $0.10 | $0.10 | $0.10 |
| Ações em Circulação (Básicas) | $127.5M | $133.9M | $141.4M | $147.8M | $155.8M | $155.6M | $143.6M | $144.2M | $144.2M | $143.1M |
O que olhar em empresas de Technology
- Crescimento de receita 3a (≥15%/ano) — Valida tração sustentada, não um ano pontual.
- Margem bruta (Depende do sub-setor) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Receita (≥20%) — Caixa real gerada. Muitas tech maquilham lucros não-GAAP.
- ROIC (≥15%) — Eficiência do capital reinvestido — a primeira métrica de Buffett.
- SBC / Receita (<10% saudável) — Stock-based compensation. Diluição silenciosa: >20% destrói valor.
- Dívida Líquida / EBITDA (≤2x (1,5x SaaS)) — Resistência em recessões e subidas de juros.
Rentabilidade
| Retorno sobre patrimônio | 217.31% |
| Retorno sobre capital investido | 16.90% |
| Retorno sobre ativos | 8.30% |
| Margem bruta | 79.55% |
| Margem operacional | 9.43% |
| Margem líquida | 9.45% |
Saúde financeira
| Dívida / Patrimônio | 0.50 |
| Liquidez corrente | 1.06 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 1.38 |
Índices Chave (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/L | -14.34 | -19.17 | -22.02 | -15.34 | -62.93 | -96.78 | 168.37 | 37.65 | 23.85 | 42.25 |
| P/VP | 29.12 | 199.00 | 94.16 | 99.34 | 18.18 | -10.29 | -135.66 | 61.38 | 24.41 | -12.12 |
| P/V | 5.46 | 5.89 | 4.86 | 3.19 | 3.56 | 4.65 | 4.64 | 3.61 | 4.42 | 3.08 |
| Margem Bruta | 71.9% | 73.3% | 71.5% | 69.0% | 70.8% | 71.5% | 74.5% | 74.9% | 79.1% | 79.2% |
| Margem Operacional | -37.8% | -30.4% | -22.1% | -20.0% | -4.9% | -3.2% | 3.7% | 4.9% | 7.3% | 7.1% |
| Margem Líquida | -38.1% | -30.6% | -22.1% | -20.7% | -5.6% | -4.7% | 2.7% | 12.4% | 22.4% | 8.6% |