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Strategy Inc's published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.
| Market cap | $58.6B | |
|---|---|---|
| Revenue (ttm) | 498.3M | |
| Net income (ttm) | -31.4B | |
| EPS (ttm) | -$99.3 | |
| Shares out | 384.2M | |
| P/E (forward) | 37.4x | |
| Volume | 9,359,535 | |
| Beta | 3.57 |
Recent price action with selectable time range.
| Item | P1 | P2 | P3 | P4 | Trend |
|---|---|---|---|---|---|
| Period | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Trend |
| Revenue | $499.3M | $496.3M | $463.5M | $477.2M | -1.5% |
| Gross profit | $396.3M | $386.3M | $334.0M | $327.8M | -6.1% |
| Operating income | $-1.27B | $-75.6M | $-1.87B | $-5.46B | — |
| Net income | $-1.47B | $429.1M | $-1.17B | $-3.85B | — |
| EPS (diluted) | $-12.98 | $2.64 | $-6.06 | $-15.23 | — |
| EBITDA | $-1.26B | $-61.0M | $-1.85B | $-5.44B | — |
| R&D | $127.4M | $120.5M | $118.5M | $93.9M | -9.7% |
| SG&A | $258.3M | $265.0M | $278.6M | $274.9M | +2.1% |
Recent company headlines from major financial publishers.
Values only the upper-bound potential of the legacy enterprise software business using expanded EV/Revenue multiples. This fundamentally ignores the digital asset treasury, reflecting only the operating unit.
Our baseline deterministic fair value bridges the isolated software segment via EV/Revenue. The massive downside accurately reflects the mechanical omission of the Bitcoin investment assets from the equity calculation.
| Ke ↓ / g → | 2.0% | 2.5% | 3.0% | 3.5% | 4.0% |
|---|---|---|---|---|---|
| 12.4% | $7.61 | $8.00 | $8.42 | $8.90 | $9.43 |
| 13.4% | $6.94 | $7.26 | $7.61 | $8.00 | $8.42 |
| 14.4% | $6.38 | $6.65 | $6.94 | $7.26 | $7.61 |
| 15.4% | $5.90 | $6.13 | $6.38 | $6.65 | $6.94 |
| 16.4% | $5.49 | $5.69 | $5.90 | $6.13 | $6.38 |
Upcoming earnings date and setup when available.
The rating each month's published research edition carried. A rating compares the price at analysis with the Fair value; it is not a record of whether the call was right.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 |
