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NASDAQ · FINANCE SERVICES · LARGE CAP

Strategy Inc. MSTR

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$477.2M
▲ 3.0% YoY
$-3.8B
$-75.5M
In brief

What this company does

Its Strategy One platform, a cloud-native analytics platform, is used by enterprises across a wide range of industries to deliver business intelligence and analytics solutions, including visualization, reporting, and embedded analytics capabilities across retail, banking, technology, manufacturing, insurance, consulting, healthcare, telecommunications, and the public sector. In 2025, it structured and issued five classes of Preferred Stock instruments, which provide differentiated indirect economic exposure to its class A common stock and bitcoin holdings. As of February 13, 2026, it held approximately 717,131 bitcoins, acquired at an aggregate purchase price of $54.5 billion and an average purchase price of approximately $76,027 per bitcoin, inclusive of fees and expenses. As of December 31, 2025, it had a total of 1,539 employees, of whom 448 were based in the United States and 1,091 were based internationally. On August 11, 2025, the company changed its name from "MicroStrategy Incorporated" to "Strategy Inc".

Written from the business description in Strategy Inc's annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth
USD 477.2M
Revenue, FY2025 · full 17-year series below
Revenue $B Net income $B
FY2025 · Revenue 0.5 · Net income -3.8
0.2B0.4B-2.0B200920112013201520172019202120232025
Compound annual growth
−1.5%
−0.1%
−1.0%
+0.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −0.1% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−806 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -1140.8% · Net -806.3%
-500%-1000%200920112013201520172019202120232025
ROE
FY2025 · ROE -12.3%
-200%-400%200920112013201520172019202120232025
Gross margin68.7%
Operating margin-1140.8%
Net margin-806.3%
Return on assets-8.8%
EBITDAUSD -5.4B

Each USD of equity lost 12 cents this year.

Cash & shareholders
—
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -75.5
50M100M-40M200920112013201520172019202120232025
Net buybacks $B Dividends $B
FY2022 · Dividends — · Net buybacks -0.0
0.05B0.10B-0.40B-0.80B200920112016201820202022
Dividends paid—
Net buybacks—
Share of profit—
Consecutive raises—

Total assetsUSD 61.6B
EquityUSD 44.1B
CashUSD 2.3B
Gross debtUSD 8.2B
Net debtUSD 5.9B
Current ratio5.62×

Net debt stands at 13% of equity.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.50.50.50.50.50.50.50.50.50.50.50.60.60.60.50.50.4
Operating income $B−5.4−1.9−0.1−1.3−0.8−0.0−0.00.00.10.10.10.00.00.00.00.10.1
EBITDA $B−5.4−1.8−0.1−1.3−0.8−0.00.00.00.10.10.20.00.00.10.00.10.1
Income tax $B−1.7−0.8−0.60.1−0.3−0.00.0−0.00.10.00.00.0−0.00.00.00.00.0
Net income $B−3.8−1.20.4−1.5−0.5−0.00.00.00.00.10.10.00.10.00.00.00.1
Free cash flow $B−0.1−0.10.00.00.10.00.10.00.10.10.10.00.00.00.00.10.1
EPS, diluted $−15.23−6.062.64−12.98−53.44−0.783.331.971.588.019.180.447.371.841.623.726.09
Dividend / sh $·················
Payout %·················
ROE %−12.3−11.448.2−493.4−75.1−1.66.64.03.118.127.21.632.611.111.324.134.9

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 83 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 12 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityFinance Services
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2009

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