Box Inc (BOX)

Debt-to-capital ratio

		Jan 31, 2024	Oct 31, 2023	Jul 31, 2023	Apr 30, 2023	Jan 31, 2023	Oct 31, 2022	Jul 31, 2022	Apr 30, 2022	Jan 31, 2022	Oct 31, 2021	Jul 31, 2021	Apr 30, 2021	Jan 31, 2021	Oct 31, 2020	Jul 31, 2020	Apr 30, 2020	Jan 31, 2020	Oct 31, 2019	Jul 31, 2019	Apr 30, 2019
Long-term debt	US$ in thousands	370,822	370,322	369,823	369,825	369,351	368,878	368,406	367,934	367,463	366,993	366,530	366,061	297,614	50,000	70,000	70,000	40,000	40,000	40,000	40,000
Total stockholders’ equity	US$ in thousands	-431,062	-540,415	-536,964	-512,085	-523,851	-567,594	-579,504	-483,965	-395,087	-273,150	-152,987	124,813	151,065	87,562	59,592	40,848	22,357	20,775	22,266	30,538
Debt-to-capital ratio		—	—	—	—	—	—	—	—	—	3.91	1.72	0.75	0.66	0.36	0.54	0.63	0.64	0.66	0.64	0.57

January 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $370,822K ÷ ($370,822K + $-431,062K)
= —

The debt-to-capital ratio for Box Inc has shown fluctuations over the past several periods, indicating changes in the company's capital structure and financial leverage. The ratio increased from 0.57 in July 2019 to 3.91 in October 2021, suggesting a significant rise in debt relative to total capital during this period. However, there was a subsequent decrease to 1.72 in January 2022 and a further decline to 0.36 in January 2023, indicating a reduction in debt as a proportion of total capital.

Overall, the debt-to-capital ratio has exhibited variability, with both upward and downward trends. It is essential to consider the reasons behind these fluctuations, such as changes in borrowing levels, capital structure adjustments, or strategic financial decisions. Further analysis of Box Inc's financial statements and business operations would be necessary to fully understand the implications of these changes in the debt-to-capital ratio.