Strategy Inc
Strategy Inc
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | |||||||||||||||||
Assets Current | |||||||||||||||||
Cash And Cash Equivalents At Carrying Value | 2,207 | 2,301 | 54 | 50 | 60 | 38 | 46 | 67 | 81 | 47 | 45 | 66 | |||||
Restricted Cash And Cash Equivalents At Carrying V… | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | |||||
Accounts Receivable Net Current | 122 | 206 | 113 | 118 | 105 | 181 | 107 | 112 | 115 | 184 | 129 | 122 | |||||
Prepaid Expense And Other Assets Current | 60 | 55 | 44 | 43 | 37 | 31 | 31 | 27 | 43 | 35 | 24 | 20 | |||||
Assets Current | 2,391 | 2,564 | 214 | 213 | 204 | 252 | 186 | 208 | 242 | 268 | 200 | 210 | |||||
Indefinite Lived Intangible Assets Excluding Goodw… | - | - | 73,206 | 64,363 | 43,546 | 23,909 | 6,851 | 5,688 | 5,074 | 3,626 | 2,451 | 2,323 | |||||
Crypto Asset Fair Value | 51,650 | 58,854 | - | - | - | 23,909 | - | - | - | - | - | - | |||||
Property Plant And Equipment Net | 28 | 29 | 30 | 30 | 28 | 26 | 28 | 28 | 29 | 29 | 30 | 31 | |||||
Operating Lease Right Of Use Asset | 58 | 47 | 49 | 52 | 53 | 55 | 55 | 54 | 55 | 57 | 55 | 58 | |||||
Deferred Income Tax Assets Net | 5 | 5 | 6 | 6 | 5 | 1,525 | 1,173 | 1,032 | 920 | 758 | 614 | 719 | |||||
Assets | 54,269 | 61,641 | 73,619 | 64,773 | 43,920 | 25,844 | 8,344 | 7,053 | 6,352 | 4,763 | 3,374 | 3,363 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Liabilities Current | |||||||||||||||||
Employee Related Liabilities Current | 34 | 70 | 45 | 50 | 33 | 58 | 52 | 47 | 41 | 50 | 43 | 41 | |||||
Interest Payable Current | 6 | 6 | 30 | 6 | 6 | 6 | 6 | 5 | 11 | 1 | 10 | 1 | |||||
Dividends Payable Current | 48 | 27 | - | - | - | 0 | - | - | - | - | - | - | |||||
Long Term Debt Current | 31 | 31 | 0 | 0 | 1 | 1 | 1 | 145 | 0 | 0 | 0 | 0 | |||||
Contract With Customer Liability Current | 231 | 272 | 201 | 214 | 216 | 238 | 184 | 205 | 216 | 228 | 179 | 196 | |||||
Liabilities Current | 395 | 456 | 324 | 315 | 309 | 355 | 288 | 446 | 310 | 323 | 268 | 273 | |||||
Long Term Debt Noncurrent | 8,165 | 8,159 | 8,174 | 8,162 | 8,140 | 7,191 | 4,212 | 3,703 | 3,559 | 2,182 | 2,180 | 2,178 | |||||
Contract With Customer Liability Noncurrent | 5 | 5 | 3 | 4 | 4 | 5 | 6 | 6 | 6 | 9 | 8 | 11 | |||||
Operating Lease Liability Noncurrent | 61 | 46 | 48 | 51 | 54 | 56 | 57 | 57 | 58 | 61 | 60 | 64 | |||||
Other Liabilities Noncurrent | 5 | 5 | 5 | 5 | 4 | 5 | 6 | 6 | 18 | 22 | 18 | 18 | |||||
Deferred Income Tax Liabilities Net | 1 | 1,926 | 6,948 | 5,866 | 1,883 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Treasury Stock Value | - | - | - | - | - | 0 | -782 | -782 | -782 | -782 | -782 | -782 | |||||
Liabilities | 8,632 | 10,598 | 15,502 | 14,402 | 10,394 | 7,614 | 4,570 | 4,218 | 3,951 | 2,598 | 2,534 | 2,544 | |||||
Temporary Equity | |||||||||||||||||
Temporary Equity Carrying Amount Attributable To P… | 8,985 | 6,920 | 5,786 | 2,894 | 1,304 | 0 | - | - | - | - | - | - | |||||
Stockholders Equity | |||||||||||||||||
Preferred Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Additional Paid In Capital Common Stock | 43,130 | 37,807 | 33,390 | 31,158 | 25,881 | 20,412 | 6,060 | 4,785 | 4,248 | 3,958 | 2,726 | 2,559 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -8 | -5 | -5 | -5 | -12 | -15 | -10 | -14 | -13 | -11 | -15 | -13 | |||||
Retained Earnings Accumulated Deficit | -6,471 | 6,322 | 18,945 | 16,324 | 6,352 | -2,167 | -1,495 | -1,155 | -1,052 | -999 | -1,088 | -945 | |||||
Stockholders Equity | 36,651 | 44,123 | 52,331 | 47,477 | 32,221 | 18,230 | 3,774 | 2,835 | 2,400 | 2,165 | 840 | 819 | |||||
Liabilities And Stockholders Equity | 54,269 | 61,641 | 73,619 | 64,773 | 43,920 | 25,844 | 8,344 | 7,053 | 6,352 | 4,763 | 3,374 | 3,363 | |||||
Treasury Stock Common Shares | - | - | - | - | - | 0 | 9 | 9 | 9 | 9 | 9 | - | |||||
A10.00 Series A Perpetual Strife Preferred Stock | - | 0 | - | - | - | 0 | - | - | - | - | - | - | |||||
Variable Rate Series A Perpetual Stretch Preferred… | - | 0 | 0 | - | - | 0 | - | - | - | - | - | - | |||||
Series A Perpetual Strife Preferred Stock | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | |||||
Series A Perpetual Stride Preferred Stock | - | - | 0 | 0 | - | - | - | - | - | - | - | - | |||||
A10.00 Series Perpetual Stream Preferred Stock | - | 0 | - | - | - | 0 | - | - | - | - | - | - | |||||
A8.00 Series A Perpetual Strike Preferred Stock | - | 0 | - | - | - | 0 | - | - | - | - | - | - | |||||
A10.00 Series A Perpetual Stride Preferred Stock | - | 0 | - | - | - | 0 | - | - | - | - | - | - | |||||
Common Class A | 331 | 314 | 266 | -246 | 247 | 0 | 12 | 14 | 166 | 0 | 113 | 1 | |||||
Common Class B | 20 | 20 | 0 | 0 | 20 | 0 | 0 | 0 | 20 | 0 | 18 | 0 | |||||
Series A Perpetual Strike Preferred Stock | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | |||||
Temporary Equity Dividend Rate Percentage | - | 0 | - | - | 0 | - | - | - | - | - | - | - | |||||
Temporary Equity Par Or Stated Value Per Share | 0.001 | - | - | - | - | - | - | - | - | - | - | - | |||||
Temporary Equity Shares Authorized | 425 | - | - | - | - | - | - | - | - | - | - | - | |||||
Temporary Equity Shares Issued | 99 | - | - | - | - | - | - | - | - | - | - | - | |||||
Temporary Equity Shares Outstanding | 99 | - | - | - | - | - | - | - | - | - | - | - | |||||
Temporary Equity Aggregate Amount Of Redemption Re… | 10,005 | - | - | - | - | - | - | - | - | - | - | - | |||||
Temporary Equity Liquidation Preference | 10,005 | - | - | - | - | - | - | - | - | - | - | - | |||||
Preferred Stock Par Or Stated Value Per Share | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | |||||
Preferred Stock Shares Authorized | 580 | 563 | 570 | 690 | 727 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | |||||
Preferred Stock Shares Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Preferred Stock Shares Outstanding | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Treasury Stock Shares | - | - | - | - | - | - | - | - | - | - | - | 9 | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -14.84% | -55.94% | -50.93% | - | - | - | - | - | - | - | - | - |
| 2025 | -4.52% | -0.69% | 5.01% | -10.93% | -17.68% | -23.01% | -33.06% | -40.00% | -38.37% | 7.89% | -0.63% | 44.91% |
| 2024 | 63.85% | 44.30% | 72.96% | -3.29% | 28.70% | 71.15% | 72.55% | 48.96% | 62.17% | -10.92% | -10.18% | 24.57% |
| 2023 | - | - | - | -22.74% | -25.79% | -19.99% | 21.93% | 45.13% | 12.73% | 98.55% | 100.42% | 70.34% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 6.05 | 5.62 | 0.66 | 0.68 | 0.66 | 0.71 | 0.65 | 0.47 | 0.78 | 0.83 | 0.75 | 0.77 | |||||
| Quick Ratio | 5.90 | 5.50 | 0.52 | 0.54 | 0.54 | 0.62 | 0.54 | 0.41 | 0.64 | 0.72 | 0.66 | 0.70 | |||||
| Working Capital | 2.00B | 2.11B | -110.14M | -101.11M | -105.08M | -103.06M | -102.07M | -237.79M | -68.22M | -55.38M | -68.16M | -63.30M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 0.24 | 0.24 | 0.30 | 0.30 | 0.32 | 0.42 | 1.21 | 1.49 | 1.65 | 1.20 | 3.01 | 3.11 | |||||
| Interest Coverage TTM | -281.64 | -83.80 | 156.13 | 95.72 | -112.72 | -29.92 | -15.32 | -9.39 | -6.50 | -2.35 | -5.13 | -4.27 | |||||
| Debt Ratio | 0.16 | 0.17 | 0.21 | 0.22 | 0.24 | 0.29 | 0.55 | 0.60 | 0.62 | 0.55 | 0.75 | 0.76 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.08 | 0.09 | 0.10 | 0.14 | 0.17 | 0.17 | |||||
| Days Sales Outstanding TTM | 84.41 | 147.98 | 84.76 | 90.83 | 87.31 | 143.74 | 92.11 | 88.90 | 94.80 | 137.21 | 86.33 | 87.76 | |||||
| Receivables Turnover TTM | 4.32 | 2.47 | 4.31 | 4.02 | 4.18 | 2.54 | 3.96 | 4.11 | 3.85 | 2.66 | 4.23 | 4.16 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | -36.43 | -13.86 | 24.91 | 15.43 | -20.83 | -6.06 | -2.06 | -1.18 | -0.50 | 2.59 | 0.64 | 1.17 | |||||
| Free Cash Flow Per Share TTM | -0.17 | -0.27 | -0.25 | -0.37 | -0.34 | -0.29 | -0.19 | -0.03 | -0.00 | 0.07 | -0.07 | -0.02 | |||||
| Dividend Per Share TTM | 1.80 | 1.37 | 0.70 | 0.21 | 0.04 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 68.11% | 68.69% | 70.12% | 70.10% | 70.95% | 72.06% | 73.56% | 75.90% | 77.12% | 77.85% | 78.50% | 78.58% | |||||
| Operating Profit Margin TTM | -2,853.08% | -1,140.82% | 2,312.91% | 1,440.90% | -1,648.40% | -399.82% | -188.20% | -98.21% | -60.96% | -23.18% | -52.74% | -46.91% | |||||
| Net Profit Margin TTM | -2,479.84% | -806.35% | 1,654.50% | 1,023.69% | -1,163.04% | -251.73% | -87.05% | -43.69% | -17.40% | 86.47% | 17.91% | 41.32% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 6.79% | 2.97% | 1.65% | -3.81% | -6.19% | -6.61% | -7.35% | -3.92% | -2.45% | -0.60% | 0.62% | -0.72% | |||||
| Net Income Growth (1Y) | 127.70% | 229.84% | -2,032.00% | -2,353.77% | 6,170.17% | -371.87% | -550.29% | -201.60% | -90.30% | -129.20% | -106.89% | -115.67% | |||||
| EPS Growth (1Y) | 74.89% | 128.74% | -1,440.24% | -1,562.48% | 4,103.59% | -293.02% | -424.61% | -190.42% | -91.99% | -129.01% | -106.58% | -113.37% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | -3.43 | -10.96 | 11.66 | 23.51 | -13.84 | -47.80 | -81.78 | -117.16 | -344.04 | 20.12 | 51.69 | 26.34 | |||||
| P/B TTM | 1.14 | 0.96 | 1.75 | 2.34 | 2.29 | 3.06 | 8.81 | 8.68 | 12.21 | 3.99 | 5.56 | 6.65 | |||||
| P/S TTM | 84.96 | 88.41 | 192.93 | 240.66 | 160.98 | 120.33 | 71.18 | 51.19 | 59.86 | 17.40 | 9.26 | 10.88 | |||||
| Market Cap | 41.67B | 42.19B | 91.63B | 111.26B | 73.93B | 55.77B | 33.26B | 24.60B | 29.31B | 8.63B | 4.67B | 5.44B | |||||
| Enterprise Value | 47.66B | 48.08B | 99.75B | 119.37B | 82.01B | 62.92B | 37.43B | 28.38B | 32.79B | 10.77B | 6.80B | 7.56B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | -57.29M | -75.45M | -70.85M | -101.13M | -88.18M | -56.01M | -37.57M | -5.02M | -82.00K | 9.77M | -9.90M | -2.83M | |||||
| Net Debt | 5.99B | 5.89B | 8.12B | 8.11B | 8.08B | 7.15B | 4.17B | 3.78B | 3.48B | 2.14B | 2.14B | 2.11B | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
| Cash Flow Per Share TTM | |||||||||||||||||
| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
| Altman D | |||||||||||||||||
| Altman E | |||||||||||||||||
| Altman Z-Score | |||||||||||||||||
| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
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| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
| Free Cash Flow Yield TTM | |||||||||||||||||
| EV EBITDA TTM | |||||||||||||||||
| EV EBIT TTM | |||||||||||||||||
| Stock Compensation TTM | |||||||||||||||||
| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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Insider Transactions
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Institutional Ownership
Strategy Inc (MSTR) — SEC Financial Statements & Analysis
Strategy Inc (MSTR) is a finance services company, incorporated in DE. Strategy Inc trades on STRK: Nasdaq as: MSTR: Nasdaq, STRC: Nasdaq, STRD: Nasdaq, STRF: Nasdaq. Based on its latest SEC filing (Form 10-Q, period ending 2026-03-31), Strategy Inc reported a 6.79% year-over-year revenue growth, a Gross Profit Margin of 68.11% (TTM), a Debt-to-Equity ratio of 0.24x, a Price-to-Sales (P/S) ratio of 84.96x (TTM), a Price-to-Book (P/B) ratio of 1.14 (TTM), at a market cap of $41.67B. Figures below are sourced from SEC EDGAR, as-filed.
- Net Revenue TTM Growth 1Y
- 6.79%
- Gross Profit Margin TTM
- 68.11%
- Debt To Equity
- 0.24x
- P/S TTM
- 84.96x
- P/B TTM
- 1.14
- Market Cap
- $41.67B
Data as of 2026-03-31 · Source: SEC EDGAR
Frequently Asked Questions
What industry is Strategy Inc in?
Strategy Inc (MSTR) operates in the Finance Services industry.
What is MSTR's market cap?
Strategy Inc (MSTR) has a market capitalization of $41.67B as of 2026-03-31.
What exchange does MSTR trade on?
Strategy Inc (MSTR) trades on the STRK: Nasdaq.
Where is Strategy Inc incorporated?
Strategy Inc is incorporated in DE.