Stocktoria

Strategy Inc MSTR

Nasdaq · stock · Finance Services · website · IPO 1986-09-16 · LEI

Strategy Inc statistics & valuation

Market cap$28.8B
P / S60.4×
P / B0.7×
Net margin-806.3%
Return on equity-8.7%
FCF margin-15.8%
Net debt$5.9B
Enterprise value USD$34.7B
Earnings yield EBIT/EV-15.7%
Return on capital-8.9%

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports.

Profitability & efficiency

Net margin (%)
18.00% 3.60% 4.50% 7.10% -1.60% -104.80% -294.40% 86.50% -251.70% -806.30% 2016201720182019202020212022202320242025
Gross margin (%)
81.90% 80.80% 80.00% 79.40% 81.10% 82.00% 79.40% 77.80% 72.10% 68.70% 2016201720182019202020212022202320242025
Operating margin (%)
21.30% 14.50% 0.80% -0.20% -2.80% -153.60% -255.50% -23.20% -399.80% -1140.80% 2016201720182019202020212022202320242025
Return on equity (%)
16.30% 3.00% 4.20% 6.80% -1.70% -54.70% 19.80% -3.80% -8.70% 2016201720182019202020212022202320242025
Shares outstanding
115.2M 115.5M 114.1M 103.3M 96.8M 100.2M 113.2M 165.7M 192.5M 277.7M 2016201720182019202020212022202320242025
Net debt ($)
$426.7M $2.09B $2.33B $2.14B $7.15B $5.89B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
12.00% 1.90% 2.60% 3.70% -0.50% -15.10% -61.00% 9.00% -4.50% -6.20% 2016201720182019202020212022202320242025
Free cash flow margin (%)
21.10% 14.80% 0.80% 10.40% 10.40% 17.80% 0.10% 2.00% -12.10% -15.80% 2016201720182019202020212022202320242025
Debt / equity (×)
1.09× 2.20× 1.01× 0.23× 0.19× 2016201720182019202020212022202320242025
EPS ($)
$0.80 $0.16 $0.20 $0.33 -$0.08 -$5.34 -$12.98 $2.64 -$6.06 -$15.23 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Strategy Inc trades at about 35.9× earnings — below its 10-year norm (10-year range 17.1×–367.3×, median 54.5×).

17.1× 367.3×

Shaded band = 10-year range (17.1×–367.3×); dot = today's 35.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin68.7%72.1%77.8%79.4%82.0%81.1%79.4%80.0%80.8%81.9%
Operating margin-1140.8%-399.8%-23.2%-255.5%-153.6%-2.8%-0.2%0.8%14.5%21.3%
Net margin-806.3%-251.7%86.5%-294.4%-104.8%-1.6%7.1%4.5%3.6%18.0%
FCF margin-15.8%-12.1%2.0%0.1%17.8%10.4%10.4%0.8%14.8%21.1%
Return on assets-6.2%-4.5%9.0%-61.0%-15.1%-0.5%3.7%2.6%1.9%12.0%
Return on equity-8.7%-3.8%19.8%383.6%-54.7%-1.7%6.8%4.2%3.0%16.3%
Debt / equity0.19×0.23×1.01×-6.21×2.20×1.09×————
Current ratio5.620.710.830.830.860.952.793.013.183.69

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.