BOX vs. CRM

Last updated Jun 3, 2026

BOX (Box, Inc.) and CRM (salesforce.com, inc.) are both stocks. Both are in the Technology sector — BOX in Software - Infrastructure, CRM in Software - Application. Over the past 10 years, BOX returned 9.03%/yr vs 9.46%/yr for CRM. At a 0.47 correlation, their price movements are largely independent.

Performance

BOX vs. CRM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Box, Inc. (BOX) and salesforce.com, inc. (CRM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOX achieves a -7.52% return, which is significantly higher than CRM's -24.00% return. Both investments have delivered pretty close results over the past 10 years, with BOX having a 9.03% annualized return and CRM not far ahead at 9.46%.

BOX

• 1D: -3.92%
• 1M: 10.60%
• YTD: -7.52%
• 6M: -8.32%
• 1Y: -27.42%
• 3Y*: -1.61%
• 5Y*: 2.27%
• 10Y*: 9.03%

CRM

• 1D: -4.18%
• 1M: 9.26%
• YTD: -24.00%
• 6M: -14.08%
• 1Y: -22.66%
• 3Y*: -1.47%
• 5Y*: -2.46%
• 10Y*: 9.46%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BOX vs. CRM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BOX Box, Inc.	-7.52%	-5.35%	23.39%	-17.73%	18.86%	45.10%	7.57%	-0.59%	-20.08%	52.38%
CRM salesforce.com, inc.	-24.00%	-20.25%	27.76%	98.46%	-47.83%	14.20%	36.82%	18.74%	33.98%	49.33%

Correlation

The correlation between BOX and CRM is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jan 26, 2015	0.47

The correlation between BOX and CRM shifts across timeframes, from 0.47 (all time) to 0.61 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap BOX : $3.88B CRM : $174.93B
EPS BOX : $0.71 CRM : $8.59
PE Ratio BOX : 38.70 CRM : 23.37
PEG Ratio BOX : 0.38 CRM : 0.05
PS Ratio BOX : 3.37 CRM : 4.38
Total Revenue (TTM) BOX : $1.21B CRM : $42.83B
Gross Profit (TTM) BOX : $960.21M CRM : $33.25B
EBITDA (TTM) BOX : $145.37M CRM : $12.32B

Return for Risk

BOX vs. CRM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BOX

BOX Risk / Return Rank: 13
BOX Sharpe Ratio Rank: 8
BOX Sortino Ratio Rank: 9
BOX Omega Ratio Rank: 10
BOX Calmar Ratio Rank: 19
BOX Martin Ratio Rank: 19

CRM

CRM Risk / Return Rank: 16
CRM Sharpe Ratio Rank: 15
CRM Sortino Ratio Rank: 16
CRM Omega Ratio Rank: 16
CRM Calmar Ratio Rank: 19
CRM Martin Ratio Rank: 14

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BOX vs. CRM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Box, Inc. (BOX) and salesforce.com, inc. (CRM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BOX	CRM	Difference
Sharpe ratio Return per unit of total volatility	-0.82	-0.61	-0.22
Sortino ratio Return per unit of downside risk	-1.17	-0.68	-0.49
Omega ratio Gain probability vs. loss probability	0.87	0.92	-0.05
Calmar ratio Return relative to maximum drawdown	-0.60	-0.60	0.00
Martin ratio Return relative to average drawdown	-1.03	-1.18	+0.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BOX vs. CRM - Sharpe Ratio Comparison

The current BOX Sharpe Ratio is -0.82, which is lower than the CRM Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of BOX and CRM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BOX	CRM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.82	-0.61	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	-0.07	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.27	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.46	-0.42

Drawdowns

BOX vs. CRM - Drawdown Comparison

The maximum BOX drawdown since its inception was -68.56%, roughly equal to the maximum CRM drawdown of -70.50%. Use the drawdown chart below to compare losses from any high point for BOX and CRM.

Drawdown Indicators

	BOX	CRM	Difference
Max Drawdown Largest peak-to-trough decline	-68.56%	-70.50%	+1.94%
Max Drawdown (1Y) Largest decline over 1 year	-44.57%	-39.46%	-5.11%
Max Drawdown (3Y) Largest decline over 3 years	-44.57%	-54.70%	+10.13%
Max Drawdown (5Y) Largest decline over 5 years	-44.57%	-58.62%	+14.05%
Max Drawdown (10Y) Largest decline over 10 years	-68.56%	-58.62%	-9.94%
Current Drawdown Current decline from peak	-28.25%	-44.85%	+16.60%
Average Drawdown Average peak-to-trough decline	-25.24%	-16.10%	-9.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.20%	20.10%	+6.10%

Volatility

BOX vs. CRM - Volatility Comparison

The current volatility for Box, Inc. (BOX) is 15.54%, while salesforce.com, inc. (CRM) has a volatility of 16.38%. This indicates that BOX experiences smaller price fluctuations and is considered to be less risky than CRM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOX	CRM	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.54%	16.38%	-0.84%
Volatility (6M) Calculated over the trailing 6-month period	29.88%	31.57%	-1.69%
Volatility (1Y) Calculated over the trailing 1-year period	33.53%	37.58%	-4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.02%	36.96%	-3.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.80%	35.31%	+3.49%

Dividends

BOX vs. CRM - Dividend Comparison

BOX has not paid dividends to shareholders, while CRM's dividend yield for the trailing twelve months is around 0.84%.

Position	TTM	2025	2024
BOX Box, Inc.	0.00%	0.00%	0.00%
CRM salesforce.com, inc.	0.84%	0.63%	0.48%

Financials

BOX vs. CRM - Profitability Comparison

The chart below illustrates the profitability comparison between Box, Inc. and salesforce.com, inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BOX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Box, Inc. reported a gross profit of 243.21M and revenue of 305.94M. Therefore, the gross margin over that period was 79.5%.

CRM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, salesforce.com, inc. reported a gross profit of 8.56B and revenue of 11.13B. Therefore, the gross margin over that period was 76.9%.

BOX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Box, Inc. reported an operating income of 27.44M and revenue of 305.94M, resulting in an operating margin of 9.0%.

CRM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, salesforce.com, inc. reported an operating income of 2.35B and revenue of 11.13B, resulting in an operating margin of 21.1%.

BOX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Box, Inc. reported a net income of 11.91M and revenue of 305.94M, resulting in a net margin of 3.9%.

CRM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, salesforce.com, inc. reported a net income of 2.11B and revenue of 11.13B, resulting in a net margin of 18.9%.

Frequently Asked Questions

Can I hold both BOX and CRM in my portfolio?

BOX and CRM have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOX or CRM?

CRM has higher volatility (16.38%) compared to BOX (15.54%). In terms of maximum drawdown, BOX dropped -68.56% vs CRM's -70.50%.

Which has better risk-adjusted returns?

CRM currently has the higher Sharpe Ratio (-0.61 vs -0.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.