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Strategy MSTR · USD
Information Technology · Software · US listing · 🇺🇸 United States
Nasdaq-100
125.59
-2.59%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$477.2m
FY2016FY2025
Net income
−$3.85bn
FY2016FY2025
Free cash flow
−$22.58bn
FY2016FY2025
Shareholders' equity
$51.04bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $477.2m | $463.5m | $496.3m | $499.3m | $510.8m | $480.7m | $486.3m | $497.6m | $503.8m | $513.6m |
| Gross profit | $327.8m | $334.0m | $386.3m | $396.3m | $418.9m | $389.7m | $386.4m | $398.1m | $407.2m | $420.4m |
| Research and development | $93.9m | $118.5m | $120.5m | $127.4m | $117.1m | $103.6m | $109.4m | $102.5m | $78.8m | $73.1m |
| Operating income | −$5.46bn | −$1.87bn | −$75.6m | −$1.27bn | −$782.2m | −$13.6m | −$1.0m | $4.0m | $73.2m | $109.5m |
| Net income | −$3.85bn | −$1.17bn | $429.1m | −$1.47bn | −$535.5m | −$7.5m | $34.4m | $22.5m | $18.2m | $92.2m |
| Diluted earnings per share | -13.09 | -5.26 | 2.34 | -12.91 | -5.01 | -0.08 | 0.33 | 0.20 | 0.16 | 0.80 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $61.64bn | $25.84bn | $4.76bn | $2.41bn | $3.56bn | $1.47bn | $916.6m | $855.8m | $933.2m | $768.3m |
| Cash and short-term investments | $2.30bn | $38.1m | $46.8m | $43.8m | $63.4m | $59.7m | $565.6m | $576.1m | $675.2m | $589.4m |
| Total liabilities | $10.60bn | $7.61bn | $2.60bn | $2.79bn | $2.58bn | $912.6m | $408.0m | $326.0m | $327.5m | $216.1m |
| Debt | $8.19bn | $7.19bn | $2.18bn | $2.38bn | $2.16bn | $486.4m | — | — | — | — |
| Shareholders' equity | $51.04bn | $18.23bn | $2.16bn | −$383.1m | $979.0m | $553.0m | $508.6m | $529.7m | $590.5m | $552.2m |
| Shares outstanding | 294m | 222m | 184m | 114m | 107m | 98m | 103m | 112m | 114m | 116m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$67.2m | −$53.0m | $12.7m | $3.2m | $93.8m | $53.6m | $60.9m | $10.6m | $78.3m | $110.6m |
| Capital spending | −$22.51bn | −$22.09bn | −$1.91bn | −$290.4m | −$2.63bn | −$1.13bn | −$10.2m | −$6.8m | −$4.0m | −$2.3m |
| Free cash flow | −$22.58bn | −$22.14bn | −$1.89bn | −$287.2m | −$2.54bn | −$1.08bn | $50.7m | $3.8m | $74.3m | $108.3m |
| Dividends paid | −$381.4m | — | −$4.1m | −$2.1m | −$1.51bn | −$686.5m | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $122.4m | $124.3m | $123.0m | $128.7m | $114.5m | $111.1m | $120.7m | $116.1m |
| Gross profit | $81.5m | $83.4m | $81.3m | $90.7m | $78.7m | $77.1m | $86.5m | $81.7m |
| Operating income | −$8.33bn | −$14.9m | −$10.0m | $3.89bn | $14.02bn | −$15.4m | −$1.01bn | −$460.5m |
| Net income | −$8.22bn | −$12.54bn | −$12.44bn | $2.79bn | $10.02bn | −$4.22bn | −$670.8m | −$340.2m |
| Diluted earnings per share | -23.94 | -36.54 | -42.30 | 9.47 | 34.08 | -14.34 | -3.03 | -1.54 |
| Cash from operations | −$4.0m | $13.0m | −$21.0m | −$8.0m | −$34.0m | −$2.0m | −$17.0m | −$40.0m |
| Capital spending | −$1.0m | — | −$3.09bn | −$6.79bn | −$6.79bn | −$7.67bn | −$18.07bn | −$1.57bn |
| Free cash flow | −$5.0m | — | −$3.12bn | −$6.79bn | −$6.82bn | −$7.67bn | −$18.09bn | −$1.61bn |
| Total assets | $52.56bn | $54.27bn | $61.64bn | $73.62bn | $64.77bn | $43.92bn | $25.84bn | $8.34bn |
| Cash and short-term investments | $2.45bn | $2.21bn | $2.30bn | $54.3m | $50.1m | $62.3m | $38.1m | $46.3m |
| Debt | $6.71bn | $8.20bn | $8.19bn | $8.17bn | $8.16bn | $8.14bn | $7.20bn | $4.21bn |
| Shareholders' equity | $45.33bn | $45.64bn | $51.04bn | $58.12bn | $50.37bn | $33.53bn | $18.23bn | $3.77bn |
Financial ratios
Data as of 20 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 68.7% | 72.1% | 77.8% | 79.4% | 82.0% | 81.1% |
| Operating margin | -1144.3% | -404.0% | -15.2% | -254.2% | -153.2% | -2.8% |
| Net margin | -806.3% | -251.7% | 86.5% | -294.4% | -104.8% | -1.6% |
| Return on equity | -7.5% | -6.4% | 19.8% | 383.6% | -54.7% | -1.4% |
| Return on assets | -6.2% | -4.5% | 9.0% | -61.0% | -15.1% | -0.5% |
| Free cash flow yield | 49.8% | 64.8% | 6.8% | 1.7% | 16.6% | 7.8% |
| Revenue growth | 3.0% | -6.6% | -0.6% | -2.3% | 6.2% | -1.1% |
| Earnings growth | 229.8% | -371.9% | -129.2% | 174.5% | 7017.0% | -121.9% |
| Current ratio | 5.62x | 0.71x | 0.83x | 0.83x | 0.86x | 0.95x |
| Debt to equity | 0.16x | 0.40x | 1.01x | -6.21x | 2.25x | 0.81x |
| Equity ratio | 82.8% | 70.5% | 45.5% | -15.9% | 27.5% | 37.7% |
| Interest coverage | -84.06x | -30.23x | -1.54x | -23.89x | -26.84x | -7.51x |
| R&D as a share of sales | 19.7% | 25.6% | 24.3% | 25.5% | 22.9% | 21.5% |
| Buybacks as a share of market value | -32.7% | -20.6% | -61.4% | -6.6% | -8.4% | 4.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.5% | -0.1% | -1.0% |
| Operating income | 62.6% | 231.6% | — |
| Net income | 37.8% | 248.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 70.4% | 74.6% | 77.0% | 78.7% |
| Operating margin | -779.6% | -448.2% | -323.6% | -167.7% |
| Net margin | -533.1% | -312.7% | -225.4% | -115.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -11.6 | -55.0 | 27.1 | -1.1 | -10.9 | -508.6 | 42.8 | 63.3 | 82.6 | 24.7 |
| Price to sales | 93.6 | 138.5 | 23.4 | 3.2 | 11.4 | 8.0 | 3.0 | 2.9 | 3.0 | 4.4 |
Market value over time
31 Oct 2016 to 18 Sept 2026, in USD
$224.4m$52.84bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | -55% | 512% | 236% | -69% | 72% | 119% | 20% | -11% | -34% | 19% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-for-1 split · 8 Aug 2024
- 10-to-1 reverse split · 31 Jul 2002
- 2-for-1 split · 27 Jan 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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