Box vs Klaviyo
Klaviyo reported revenue of $1.2 billion in fiscal 2025, about the same as Box's $1.2 billion in fiscal 2026. Box's revenue grew 8.0% in its latest year, and Klaviyo's grew 31.6%. Box had an operating margin of 7.1%, against -5.5% at Klaviyo. Free cash flow was $350 million at Box and $209 million at Klaviyo. Their fiscal years end in different months (January 31 and December 31), so the periods don't line up exactly.
Side by side
| Box | Klaviyo | |
|---|---|---|
| Latest fiscal year | FY2026, Jan 31, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $1.2B | $1.2B |
| Revenue growth | 8.0% | 31.6% |
| Revenue growth a year, last 5 years | 8.8% | — |
| Gross margin | 79.2% | 74.7% |
| Operating margin | 7.1% | −5.5% |
| Net margin | 9.8% | −2.6% |
| Free cash flow | $350M | $209M |
| Free cash flow margin | 29.8% | 16.9% |
| Return on capital | — | — |
| Net debt to EBITDA | −0.2x | — |
| Dividends and buybacks | $290M | $0M |
| Change in diluted share count | 0.3% | 9.2% |
| Last close | $43.21 | $20.71 |
| P/E at the last close | 63.5× | — |
| Insider trades, last 12 months | sold $10.4 million | bought $300,311, sold $191.6 million |
| Piotroski F-score | 5 of 9 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
BoxKlaviyo
Operating margin
Percent of revenue
BoxKlaviyo
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
BoxKlaviyo