Strategy Inc logo MSTR - Strategy Inc

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 18
HOLD 8
SELL 3
STRONG
SELL
0
| PRICE TARGET: $304.00 DETAILS
HIGH: $450.00
LOW: $212.00
MEDIAN: $294.00
CONSENSUS: $304.00
UPSIDE: 90.13%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997
Revenue
Revenue 477.2 463.5 496.3 499.3 510.8 480.7 486.3 497.6 503.8 513.6 529.9 579.8 575.9 565.7 537.2 454.6 377.8 360.4 350.7 313.8 268.7 231.2 175.6 147.8 180.4 215.3 151.3 95.5 52.6
Cost of Revenue 149.4 129.5 109.9 103.0 91.9 91.1 100.0 99.5 96.6 93.1 101.1 135.2 138.6 141.1 130.7 106.1 66.6 63.4 60.5 44.4 36.5 32.9 28.0 27.9 45.6 77.6 37.0 16.3 9.9
Gross Profit 327.8 334.0 386.3 396.3 418.9 389.7 386.4 398.1 407.2 420.4 428.8 444.6 437.3 424.6 406.5 348.5 311.2 297.0 290.2 269.4 232.2 198.3 147.6 119.9 134.8 137.7 114.2 79.1 42.7
Operating Expenses
R&D Expenses 93.9 118.5 120.5 127.4 117.1 103.6 109.4 102.5 78.8 73.1 65.2 103.4 98.1 88.2 67.9 50.6 41.8 30.6 36.7 34.1 31.5 24.9 27.7 26.3 32.8 43.9 24.2 12.1 5.0
SG&A Expenses 274.9 278.6 265.0 258.3 255.6 229.0 277.9 291.7 255.2 237.7 229.3 321.4 319.8 303.4 317.7 247.3 183.1 198.6 165.2 135.4 106.8 104.9 90.1 75.8 112.0 184.6 112.1 66.2 37.0
Other Expenses 5,403.5 1,789.9 115.9 1,286.3 830.6 70.7 0 0 0 0.0 0.3 14.7 0 0 0 0 0 0 0.1 0.1 0.1 0.1 1.9 7.4 56.7 27.0 3.2 3.4 1.2
Operating Expenses 5,772.2 2,187.0 501.4 1,672.0 1,203.4 403.3 387.4 394.2 334.0 310.9 294.7 439.5 417.9 391.5 385.6 297.9 224.9 229.2 202.0 169.6 138.3 129.9 119.6 109.5 201.5 255.5 139.5 81.7 43.3
Operating Income
Operating Income (5,444.4) (1,853.0) (115.0) (1,275.7) (784.5) (13.6) (1.0) 4.0 73.2 109.5 134.0 5.1 19.4 33.1 20.9 50.6 86.3 67.8 88.2 99.8 93.9 68.5 28.0 10.4 (66.7) (117.8) (25.3) (2.5) (0.6)
Interest Expense 65.0 61.9 49.0 53.1 29.1 1.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.1 0.1 0 0 0 0 0 0 0
Interest Income 0 0 0 0 0 2.5 10.9 11.9 5.2 2.2 0.3 0.2 0.5 0.1 0.2 0.4 1.0 2.3 3.6 2.8 3.0 1.2 0 0 0 0 0 0 0
Profitability
EBITDA (5,436.9) (1,854.6) (61.0) (1,258.5) (770.9) 70.4 7.6 7.7 88.8 129.5 155.5 45.1 45.8 55.6 38.1 63.4 96.9 74.2 95.8 107.4 102.4 76.8 38.5 27.7 2.3 (78.9) (15.7) 0.9 0.6
EBIT (5,461.0) (1,872.4) (75.6) (1,269.3) (782.2) 57.1 (1.0) 4.0 73.2 109.6 134.3 19.8 19.4 33.1 20.9 50.6 86.3 67.8 88.2 99.8 93.9 68.5 29.7 14.6 (27.3) (108.5) (22.5) (2.5) (0.6)
Income Before Tax (5,526.0) (1,934.3) (124.5) (1,322.5) (811.4) (20.0) 38.3 20.5 71.5 114.9 137.9 11.1 16.8 32.2 25.2 55.0 85.8 70.8 91.2 101.4 98.2 69.3 (7.3) 39.3 (45.6) (213.7) (23.3) 10.3 0
Income Tax Expense (1,677.8) (767.7) (553.6) 147.3 (275.9) (12.4) 3.9 (2.0) 53.3 22.7 31.9 6.0 (9.8) 9.7 3.4 11.2 25.3 29.0 32.7 30.5 33.4 (99.0) (2.6) 1.2 2.5 1.4 1.2 3.4 0
Net Income (4,031.5) (1,166.7) 429.1 (1,469.8) (535.5) (7.5) 34.4 22.5 18.2 92.2 105.9 5.0 83.3 20.5 17.9 43.8 74.8 41.8 58.5 70.9 64.7 168.3 (3.9) 38.1 (80.9) (168.9) (33.7) (2.3) (0.9)
Per Share Data
EPS (Basic) -13.89 -6.06 3.14 -12.98 -5.34 -0.08 0.34 0.20 0.16 0.81 0.93 0.04 0.74 0.19 0.17 0.39 0.63 0.35 0.47 0.55 0.44 1.05 -0.03 0.32 -0.93 -3.28 -0.22 -0.01 -0.10
EPS (Diluted) -15.23 -6.06 2.64 -12.98 -5.34 -0.08 0.33 0.20 0.16 0.80 0.92 0.04 0.74 0.18 0.16 0.37 0.61 0.34 0.46 0.52 0.42 0.98 -0.03 0.31 -0.93 -3.28 -0.22 -0.01 -0.10
Shares Outstanding 294.0 192.5 136.7 113.2 100.2 96.8 102.6 113.8 114.4 114.2 113.5 113.0 113 110.0 107.2 113.8 119.1 118.9 123.2 129.9 147.7 160.6 148.0 116.8 86.6 79.8 154.1 134.0 118.0
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997
Current Assets
Cash & Cash Equivalents 2,303.3 38.1 46.8 43.8 63.4 59.7 456.7 109.9 420.2 402.0 224.8 122.9 68.3 51.9 15.0 38.4 67.7 25.9 27.5 3.5
Short-Term Investments 0 0 0 0 0 0 108.9 466.2 254.9 187.4 0 0 37.8 0.0 0.0 0.9 1.1 0 0 0
Net Receivables 205.7 181.2 183.8 189.3 189.3 197.5 163.5 171.4 165.4 83.3 56.4 49.7 40.9 31.0 28.2 22.3 47.9 37.6 25.4 16.1
Inventory 0 0 0 0 0 0 0 0 0 0 0 36.9 0 0 0 0 0 0 0 0
Other Current Assets 55.0 33.0 37.3 31.5 1.1 1.1 1.1 0.9 2.1 0.7 13.2 (4.6) 21.8 2.6 6.7 0.4 28.9 57.9 10.6 1.4
Total Current Assets 2,564.1 252.3 267.9 264.6 268.0 272.6 753.4 778.4 860.7 685.0 305.2 214.4 175.2 89.3 55.0 67.9 154.9 121.4 63.5 21
Non-Current Assets
Property, Plant & Equipment 75.8 80.9 86.3 93.6 103.3 116.6 135.7 51.9 53.4 57.4 54.9 9.0 16.1 16.1 18.5 26.5 61.4 30.6 13.8 6.9
Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 58,854.0 23,909.4 3,626.5 1,840.0 2,850.2 1,054.3 0 0 2.5 8.5 13.4 14.8 0 0.6 0.8 5.4 34.3 47.2 1.0 0
Long-Term Investments 0 6.8 0 0 0 1,054.3 0 0 0 0 0 (17.1) 0 0 (0.5) 0 0 0 0 0
Other Non-Current Assets 142.6 69.0 24.3 23.9 15.8 (1,038.7) 8.0 8.1 3.3 5.7 3.3 53.9 34.9 5.1 5.6 3.8 8.5 4.2 4.4 2.2
Total Non-Current Assets 59,076.9 25,591.4 4,494.6 2,145.7 3,289.2 1,193.0 163.1 77.4 72.6 83.3 78.1 77.7 161.8 25.5 24.9 35.7 104.2 82.0 19.2 9.1
Total Assets 61,641.1 25,843.7 4,762.5 2,410.3 3,557.1 1,465.6 916.6 855.8 933.2 768.3 383.3 292.1 337.0 114.8 79.9 103.6 259.1 203.4 82.7 30.1
Current Liabilities
Account Payables 50.3 33.4 32.6 43.0 46.1 44.8 33.9 33.7 30.7 33.1 28.5 27.7 18.9 12.8 15.3 18.9 31.0 13.6 11.5 9.4
Short-Term Debt 31.3 10.9 10.9 0.5 0 0 0 0 0 0 0 0 0 0 4.7 1.2 0 0 5 0.9
Deferred Revenue 272.1 238.0 228.2 217.4 209.9 191.2 187.1 176.5 112.6 105.5 77.8 66.5 43.7 28.4 24.0 21.0 42.2 0 0 0
Other Current Liabilities 5.6 5.5 1.5 2.8 1.5 0 0 0 0 3.5 0 6.3 0 0 18.0 36.3 14.9 54.7 18.5 16.5
Total Current Liabilities 456.5 355.4 323.3 317.4 312.0 285.6 269.8 258.3 184.9 185.5 152.6 143.2 89.6 61.7 61.9 91.1 112.3 68.3 35 26.8
Non-Current Liabilities
Long-Term Debt 8,205.0 7,191.2 2,182.1 2,378.6 2,155.2 486.4 0 0 0 0 0 0 0 0 45.0 0 0 0 0 2.7
Deferred Tax Liabilities 1,926.5 0.4 0.4 0.2 0.1 8.2 0.0 0.0 0.0 0.3 0 0 0 0 (1.4) 0 0 0 0 0
Other Non-Current Liabilities (41.4) 5.4 22.2 17.1 26.2 33.4 30.4 61.3 50.1 16.4 12.6 9.3 5.1 6.0 7.4 81.9 132.3 33.3 1.4 1
Total Non-Current Liabilities 10,141.6 7,258.3 2,274.3 2,476.0 2,266.2 626.9 138.2 67.8 60.3 30.7 16.5 10.9 6.7 8.7 52.5 81.9 132.3 33.3 1.4 3.7
Total Liabilities 10,598.1 7,613.7 2,597.6 2,793.4 2,578.2 912.6 408.0 326.0 327.5 216.1 169.1 154.1 96.4 70.4 114.4 173.0 244.5 101.6 36.4 30.5
Stockholders' Equity
Common Stock 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0
Retained Earnings 6,321.8 (2,166.9) (999.2) (1,428.4) 41.4 576.0 583.5 549.1 511.8 494.1 126.6 51.8 (177.6) (345.9) (342.0) (380.1) (299.3) (38.0) (4.2) (0.6)
Accumulated Other Comprehensive Income (5.2) (15.4) (11.4) (13.8) (7.5) (3.9) (9.7) (10.2) (6.0) (10.7) 0.6 1.5 3.2 2.6 2.2 2.4 0.8 0.7 (0.3) (1.1)
Total Stockholders' Equity 51,043.0 18,230.0 2,165.0 (383.1) 979.0 553.0 508.6 529.7 590.5 552.2 214.2 138.0 240.6 44.3 (34.5) (69.4) 14.6 101.8 37.8 (0.4)
Total Liabilities & Equity 61,641.1 25,843.7 4,762.5 2,410.3 3,557.1 1,465.6 916.6 855.8 933.2 768.3 383.3 292.1 337.0 114.8 79.9 103.6 259.1 203.4 82.7 30.1
Debt Metrics
Total Debt 8,282.4 7,258.5 2,254.1 2,446.4 2,231.8 570.7 103.4 0 0 0 0 0 0 0 49.7 1.2 0 0 5 3.6
Net Debt 5,979.1 7,220.3 2,207.3 2,402.5 2,168.4 511.0 (353.3) (109.9) (420.2) (402.0) (224.8) (122.9) (68.3) (51.9) 34.7 (37.2) (67.7) (25.9) (22.5) 0.1
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997
Operating Activities
Net Income (3,848.2) (1,166.7) 429.1 (1,469.8) (535.5) (7.5) 34.4 22.5 18.2 92.2 64.7 168.3 (4.7) 38.1 (48.1) (215.1) (24.5) (2.3) (0.9)
Depreciation & Amortization 39.5 17.8 14.5 10.9 11.4 13.3 8.6 3.7 15.5 19.9 8.5 8.3 8.8 13.1 29.6 29.6 6.8 3.4 1.2
Stock-Based Compensation 0 77.1 69.6 63.6 44.1 11.2 10.2 14.6 14.3 11.8 0 0 0 0 0 0 0 0 0
Change in Working Capital (55.2) (42.7) (21.1) (36.6) 11.1 (22.8) 4.9 (24.0) 31.7 (7.5) 1.9 10.0 4.3 (19.7) (6.5) 0.9 20.5 (5.5) 4.3
Other Non-Cash Items 5,480.9 1,837.3 90.0 1,304.0 847.5 80.3 8.3 2.1 2.3 (1.0) (0.6) (106.8) 27.3 (33.6) 20.1 83.4 (11.9) 1.7 0.3
Operating Cash Flow (67.2) (53.0) 12.7 3.2 93.8 53.6 60.9 10.6 78.3 110.6 102.6 85.6 36.6 (2.7) (4.9) (101.2) (9.0) (2.5) 5.0
Investing Activities
Capital Expenditure (37) (22,086.2) (1,905.2) (290.4) (2,629.2) (1,128.7) (10.2) (6.8) (4.0) (2.3) (1.9) (5.6) (4.2) (4.3) (1.9) (28.7) (14.6) (9.3) (6.0)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments 0 0 0 0 0 (9.9) (320.5) (694.0) (456.5) (355.0) (169.2) (64.1) 0 0 (1.9) (6.5) (24.5) 0 0
Sales/Maturities of Investments 0 0 0 0 0 119.9 684.4 491.8 390.7 361.7 180.3 0 0 0.3 4.7 45.3 5 0 0
Other Investing Activities 0 (22,072.8) (1,902.3) (276.1) (2,626.5) (1,125) 0 0 0 0 (4.9) (4.6) 4.4 (5.7) 25.4 (29.1) 0 0 (1.9)
Investing Cash Flow (22,512.3) (22,086.2) (1,905.2) (278.6) (2,629.2) (1,018.7) 353.7 (209.1) (69.7) 4.3 4.3 (74.4) 0.2 (9.7) 26.4 (19.0) (34.1) (9.3) (7.9)
Financing Activities
Net Debt Issuance 2,015.1 5,697.4 (160.5) 215.5 1,550 650 0 (0.0) (0.0) (0.2) 0 0 (5) (2.6) 0.9 0 (5) (12.8) 4.5
Stock Repurchased 0 0 0 0 0 (123.2) (72.7) (111.0) 0 0 (134.5) (2.3) 0 0 (19.8) 0 0 0 0
Dividends Paid (381.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.2) 0 0 0 0
Other Financing Activities (161.1) 72.2 21.2 3.0 (8.3) 36.5 6.6 2.5 0 (2.5) 0 0 0.3 (10) (0.8) 0 0 0.0 (0.0)
Financing Cash Flow 24,843.5 22,132.6 1,889.9 265.2 2,541.7 563.2 (66.2) (108.5) 1.7 (1.0) (128.8) 3.4 (1.0) (11.6) (15.7) 128.0 42.2 35.7 4.6
Cash Position
Net Change in Cash 2,263.4 (8.8) (2.2) (13.6) 3.7 (397.1) 347.0 (310.4) 18.5 109.8 (26.0) 16.4 36.8 (23.4) 5.2 7.3 (1.6) 24.0 1.8
Cash at Beginning 39.9 48.7 50.9 64.4 60.8 457.8 110.8 421.2 402.7 293.0 68.3 51.9 15.0 38.4 33.2 25.9 27.5 3.5 1.7
Cash at End 2,303.3 39.9 48.7 50.9 64.4 60.8 457.8 110.8 421.2 402.7 42.3 68.3 51.9 15.0 38.4 33.2 25.9 27.5 3.5
Free Cash Flow (104.2) (22,139.3) (1,892.5) (287.2) (2,535.4) (1,075.0) 50.7 3.8 74.3 108.3 100.6 79.9 32.5 (7.0) (6.8) (129.9) (23.6) (11.8) (1.0)
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997
Income Statement
Revenue 477.2 463.5 496.3 499.3 510.8 480.7 486.3 497.6 503.8 513.6 529.9 579.8 575.9 565.7 537.2 454.6 377.8 360.4 350.7 313.8 268.7 231.2 175.6 147.8 180.4 215.3 151.3 95.5 52.6
Gross Profit 327.8 334.0 386.3 396.3 418.9 389.7 386.4 398.1 407.2 420.4 428.8 444.6 437.3 424.6 406.5 348.5 311.2 297.0 290.2 269.4 232.2 198.3 147.6 119.9 134.8 137.7 114.2 79.1 42.7
Operating Income (5,444.4) (1,853.0) (115.0) (1,275.7) (784.5) (13.6) (1.0) 4.0 73.2 109.5 134.0 5.1 19.4 33.1 20.9 50.6 86.3 67.8 88.2 99.8 93.9 68.5 28.0 10.4 (66.7) (117.8) (25.3) (2.5) (0.6)
Net Income (4,031.5) (1,166.7) 429.1 (1,469.8) (535.5) (7.5) 34.4 22.5 18.2 92.2 105.9 5.0 83.3 20.5 17.9 43.8 74.8 41.8 58.5 70.9 64.7 168.3 (3.9) 38.1 (80.9) (168.9) (33.7) (2.3) (0.9)
EPS (Diluted) -15.23 -6.06 2.64 -12.98 -5.34 -0.08 0.33 0.20 0.16 0.80 0.92 0.04 0.74 0.18 0.16 0.37 0.61 0.34 0.46 0.52 0.42 0.98 -0.03 0.31 -0.93 -3.28 -0.22 -0.01 -0.10
Balance Sheet
Cash & Equivalents 2,303.3 38.1 46.8 43.8 63.4 59.7 456.7 109.9 420.2 402.0 224.8 122.9 68.3 51.9 15.0 38.4 67.7 25.9 27.5 3.5
Total Assets 61,641.1 25,843.7 4,762.5 2,410.3 3,557.1 1,465.6 916.6 855.8 933.2 768.3 383.3 292.1 337.0 114.8 79.9 103.6 259.1 203.4 82.7 30.1
Total Debt 8,282.4 7,258.5 2,254.1 2,446.4 2,231.8 570.7 103.4 0 0 0 0 0 0 0 49.7 1.2 0 0 5 3.6
Stockholders' Equity 51,043.0 18,230.0 2,165.0 (383.1) 979.0 553.0 508.6 529.7 590.5 552.2 214.2 138.0 240.6 44.3 (34.5) (69.4) 14.6 101.8 37.8 (0.4)
Cash Flow
Operating Cash Flow (67.2) (53.0) 12.7 3.2 93.8 53.6 60.9 10.6 78.3 110.6 102.6 85.6 36.6 (2.7) (4.9) (101.2) (9.0) (2.5) 5.0
Capital Expenditure (37) (22,086.2) (1,905.2) (290.4) (2,629.2) (1,128.7) (10.2) (6.8) (4.0) (2.3) (1.9) (5.6) (4.2) (4.3) (1.9) (28.7) (14.6) (9.3) (6.0)
Free Cash Flow (104.2) (22,139.3) (1,892.5) (287.2) (2,535.4) (1,075.0) 50.7 3.8 74.3 108.3 100.6 79.9 32.5 (7.0) (6.8) (129.9) (23.6) (11.8) (1.0)